Value of a boat
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MuskieWannabe
- Bronze Participant
- Posts: 344
- Joined: Sun Jul 04, 2004 6:57 pm
- Location: Carleton Place
I did just get it a year ago. It's an awesome boat, caught a ton of fish, handled water amazingly. I haven't even decided if I wanted to sell it. I see similar boats going for 7-8K...if I could get that I'd upgrade it and buy something a little bigger so I could tackle BoQ and the Larry, even though I did take it on the BoQ one day this past fall. Just for the record, no bench seating in the boat, al open with swivel seats. I'll try later to post a pic of it when I bought it, without trolling motor and fishfinder, and not nearly as cleaned up as it is now...
Boat Pricing
Unfortunately you may be very surprised at how low the resale value of your boat is these days. JP is in the correct ball park! I purchased a boat last year in May. The boat was a 14ft Princecraft Fishermen with a 15hp Mercury 4stroke. When we purchased it, the boat, motor and trailer combo was selling for roughley $6500.00 or so. With taxes, freight and what not, the total was just under $8000.00.
This year when we went to the Toronto boat show, they had a 16ft Princecraft Springbok with a Mercury 25hp 4stroke and trailer selling for the same price as the much smaller, less powered boat I bought the year before! I almost freaked!
When I made enquiries, the sales guy told me that due to the strong Canadian Dollar and other factors, new boat prices have gone down considerably since this same time last year. Not only was this reality a smack in the chops, but when we considered trading in our boat we got the previous spring on a larger boat, the trade in Value on the 2007 model we paid $6500.00 on, was $4000.00!!! Brutal! That is a $2500.00 depreciation in 8 months!
The other reality is this as well, due to the fact that new boat prices have dropped considerably, there are more people buying new as opposed to used because the value is just greater at this time! Then those such as myself who own a newer model boat and want to sell it but paid much more for it, are usually trying to recover an unrealistic price in this market! The whole thing just sucks!
In any event, we took the hit, sold privately and purchased a bigger, better boat. It sucks to get soaked like that, but I truly think we will be much happier with the new purchase all the same. Having said all this, my advice would be simple... if you like and are happy with the boat you have and it fulfills your current needs, stick with it! Wait a while for this whole currency thing to settle down and for prices to restabalize. Then sell or upgrade.
AB
This year when we went to the Toronto boat show, they had a 16ft Princecraft Springbok with a Mercury 25hp 4stroke and trailer selling for the same price as the much smaller, less powered boat I bought the year before! I almost freaked!
When I made enquiries, the sales guy told me that due to the strong Canadian Dollar and other factors, new boat prices have gone down considerably since this same time last year. Not only was this reality a smack in the chops, but when we considered trading in our boat we got the previous spring on a larger boat, the trade in Value on the 2007 model we paid $6500.00 on, was $4000.00!!! Brutal! That is a $2500.00 depreciation in 8 months!
The other reality is this as well, due to the fact that new boat prices have dropped considerably, there are more people buying new as opposed to used because the value is just greater at this time! Then those such as myself who own a newer model boat and want to sell it but paid much more for it, are usually trying to recover an unrealistic price in this market! The whole thing just sucks!
In any event, we took the hit, sold privately and purchased a bigger, better boat. It sucks to get soaked like that, but I truly think we will be much happier with the new purchase all the same. Having said all this, my advice would be simple... if you like and are happy with the boat you have and it fulfills your current needs, stick with it! Wait a while for this whole currency thing to settle down and for prices to restabalize. Then sell or upgrade.
AB
That is one hell of a hit to the wallet! Especially when every dealer I have spoken to this year about price change have said that the price of boats have dropped maybe 1%. I was looking at a new princecraft starfish last fall and the best price I could find was $3200 before tax and freight, I came back this spring and the price had dropped $50. 