Boat Value

[bharris6]

Good afternoon,
My parents are looking to part ways with their 2007 SANTE 220 and step into the slower pontoon boat life. We have no real idea of the current boat market and what to asked for it. Would love any insight. The boat is in great shape; 420 hours, updated faria gauges, everything works as it should.

[UG_ALLSTAR]

Purchased my 08' sante 210 for $37k with 315hrs on the clock. I'd imagine you're right around $35-37k depending on location, color, package, tower, accessories.

[bturner]

It may be a lot better down south but up here boats are not moving. Mine is up for sale at a price that only a year ago should have at least gotten some traction but barely any action so far. I have 2 friends that listed their 08 and 2018 Malibu's. The 08 was listed for $35K, he's had 4 calls and one person come look at it, it's still for sale. The 2018 is listed over just shy of $90K last time I talked to him, he's had a couple emails but no one come to look at the boat.

I think there's multiple factors at play here, at least in Michigan.

Weather
So far the season has been a bust. As I write this it's currently 56° and we're looking at a 70° high with overcast skies, With a couple exceptions, it's been like this for the last 3 weeks. Not great boat selling weather.

Interest rates
Used boat loans are currently between 8.5% and 10.5%. You might be okay in the lower market like your boat will be in but with anyone looking to borrow $50 - $80K that's a nasty loan rate to deal with.

Boating fatigue
Thought I would jump on the latest catch phrase "fatigue" since that seems to be the thing these days but there's a lot of truth to this one. The honeymoon from Covid is over with boating. There are a ton of people that bought boats because it was something you could do and not get busted or canceled for being with your family. Many of these people never really wanted a boat or understood the time, effort and cost to participate in boating. Now they want out and it's killing the market as they dump their boats.

Uncertainty
Lots going on in the country and the world and the media is hyping it all up keeping people in a constant state of anxiety and uncertainty. The housing market is still nuts and inflation is still a concern as we haven't (or at least I haven't) adjusted to the crazy prices from the last couple years. This kills about any market especially if you need to buy a car truck to the mix.

As far as pricing on your boat goes, it depends on how bad you want it gone and how quickly. I would start by heading for a dealer to see what kind of deal they'd cut you on a trade in. Dealers here are sitting on inventory from last year and depending on what you're looking for they may still have 23's left. If you want to sell it yourself I'd start with Only Inboards to get a base price then add or subtract $5K to the average based on how quickly you want it gone and condition. My base guess without seeing or knowing the boat would be $32K - $35K to get some action on the boat. I know 08 MasterCraft X2's around here that were going in the low to mid 40's are being listed in the low to mid 30's. Come July Fourth, anything not sold will be in the buyer's market part of the season, at least here in the north. We're a little over 2 weeks away from the holiday so if you haven't listed yet you're way behind the curve getting it listed. After the fourth here, knock another 3K - 5K off the price.

[bharris6]

I appreciate the reply's and insight. I agree we are behind the curve on the decision and with uncertainty in the market. I'm in the ag and turf equipment business and we are slower than we have been in years past.