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Old 01 September 2021, 07:50   #1
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Has The World Gone Mad?

I’ve been keeping an eye out for another RIB/engine. What has happened to the prices? Are people actually paying the money folks are asking?
Older engines that should be 6-800 are now up at 14-1600, boats are several thousand more than they should be. Even older jet skis with blow engines are several thousands.

People must have money to burn.
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Old 01 September 2021, 08:19   #2
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Yup. People do have money to burn. 12 months of not being able to roam highstreets shopping, eat out at expensive establishments or go on holiday and all that leisure spend has been funnelled into fewer areas. Plus, the whole disruption to new supply as factory output had to fall due to reduced work spaces, reduced component availability and reduced staff numbers etc.

And finally, things like fibreglass hulls are pretty hard to increase supply of so it doesn't take much of an increase in demand for new supply capacity to be completely removed in normal market conditions so the only place that demand can go is into the used market, which itself has a fixed supply so prices ramp up to reduce the demand.

As for whether stuff is selling? It does seem to be for the most part. There are a few things where the price looked really OTT at the start of the summer and are still sitting there for sale.

I just wonder what the fallout will be in a couple of seasons time? It hasn't been the best of summers so I wonder how many people new to boating, who dived in will be seeking to sell up once the conventional holiday market is back? A lot of boats must have been bought this year using the annual holiday allowance but unlike a week in the Caribbean, the boat keeps sending bills and needing work all year. After a 2022 of boat spend plus normal
Holiday spend one has to imagine that there will be big ownership capitulation by 2023?

Manufacturers may have been expanding production to cater so more new supply but less money next year as that money goes back to traditional spends.

And the final pleasantries are that taxes on us are bound to increase starting next year and all the new money printing has significantly devalued the currency that assets and goods are priced in.

It's difficult these days to predict markets due to State interventions to stave off the consumer debt collapse but I suspect that RIBs will follow puppies with large numbers of rapid, ill thought out purchases becoming unwanted as the funding, maintenance and storage costs clash with instagramming plates of food, airplane seats and people who were once on TV.

In a couple of years there could be some superb boats up for sale at deflated prices. Although knowing our luck the GBP will have devalued so strongly that the prices are the same as now.
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Old 01 September 2021, 08:54   #3
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Quote:
Originally Posted by A1an View Post
I’ve been keeping an eye out for another RIB/engine. What has happened to the prices? Are people actually paying the money folks are asking?
Older engines that should be 6-800 are now up at 14-1600, boats are several thousand more than they should be. Even older jet skis with blow engines are several thousands.

People must have money to burn.
Yes is defiantly the answer Alan!!! For MANY reasons
As for inflated Bost prices ... another consumer (mostly credit led) "Bubble" Alan...bit like the Old Dutch Tulip Bulb market
But all bubbles do/must burst in the end....
Like so much lately ....The sums just just don't add up!
That's the real thing to worry about Mate.
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Old 01 September 2021, 09:14   #4
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I recently advertised a small hard dinghy and 8hp 1990 Suzuki and within days had an offer of £750 for just the outboard, I almost felt guilty accepting. It was still like new under the hood & very little used, but it seemed a lot of money. I paired the boat with another smaller engine and that too sold in days for a good price.
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Old 01 September 2021, 10:36   #5
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Hmm..I don’t know A1an..there are some real bargains on Gumtree at the moment. How about this boat Im selling..not a RIB but a very decent deep V fishing boat ..perfect for catching the big skate in the Sound of Mull.



Project boat for sale

Will make an ideal family leisure or fishing boat , perfect for the first time buyer. Woodwork needs a little TLC and then a lick of paint but nothing a handyman couldn’t repair. Hull was sound last time it was at sea. Must sell as I can no longer afford the mooring fees... hence bargain price of £2000 (Or make me a sensible offer) No time wasters or dreamers please as I wont reply. First to see will buy.
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Old 01 September 2021, 10:56   #6
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You should get a job at Foxtons.
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Old 01 September 2021, 17:52   #7
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Yes it really has gone mad, but it will end, if not next year maybe in 2023.
RIBs, SIBs, outboards, Motorhomes, Caravans all are being sold for stupid money.
2 months ago I was offered £2k more than I paid for my caravan 5 years ago! I was really tempted, then realised I would have to spend it all and more on a new caravan so it would have been a pointless exercise.
Same with my OB, I know I could sell my 15 EFI for a few hundred more than I paid (I did get a good deal!) but then I'd have to spend much, much more for a 20 EFI which is what I should have bought in the first place. So I'll bide my time and wait for things to get back to some sort of normality. Probably by then, back, knees and shoulder will have totally gone and I'll be looking for something much lighter and probably much more expensive!
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Old 01 September 2021, 18:28   #8
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If you have been keeping an eye on the various selling sites for boats you will see that prices are already starting to become more as they were before all this. I predict a sharp drop in price when many of the new boaters realize what boating is really about and try to sell. Also many boats that were tucked away for years are now back in circulation.

I also feel that prior to all this many boats were actually too cheap
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Old 01 September 2021, 18:39   #9
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Quote:
Originally Posted by A1an View Post
I’ve been keeping an eye out for another RIB/engine. What has happened to the prices? Are people actually paying the money folks are asking?
Older engines that should be 6-800 are now up at 14-1600, boats are several thousand more than they should be. Even older jet skis with blow engines are several thousands.

People must have money to burn.
This has created some awkward situations ,personally i have two boats which serve two different situations ,so at the start of the season i decided i would sell both and add a bit of cash to get a "super brit built " do both newish boat ,as it would probhably be my last trailered rib ,
well despite both boats being well valued ,i have actually not done it as i think i will sell both easily only too get left hunting for something half reasonable to meet my needs ,so athough i could buy first and then sell i dont think 3 boats on the back lawn may not end well with her indoors
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