The Boat Market Bubble is bursting...

[dlsanz25]

It is

Limited or Limited S?

Either way, that is a unicorn boat that will hold it's value beyond COVID. Those hulls are sought after by those that want the space of the 242, but the older, supposedly more durable, pre 2010 hulls.

It was inflated during COVID, so NADA is reflecting what some have gotten. But they are just so rare that there are few sales to base the value on. So each sale is unique. There are two for sale in our region, a Limited with third party tower and a limited S. Stick to your guns on that animal if selling. And if you see one in the $29-$30K range, it seems to be a good buy. Even when some 242LS have sold under $30 a few years ago. (Not now of course, but they did when I bought mine)

Good luck.

It is the limited S.

 

[dlsanz25]

It is

It is the limited S.

I want the 242 but also don't want to pay the premium for it. But you are saying the hull is better. Why? We don't currently have a Jet boat. We have a deck boat with inboard/outboard and I am trying to learn everything I can about them before purchasing. It makes us really nervous especially for the low speed controls with docking and trailering.

 

[Julian]

@Evil Sports Its setting records!!!!







Evil grin....

 

[Scottintexas]

We don't currently have a Jet boat. We have a deck boat with inboard/outboard and I am trying to learn everything I can about them before purchasing. It makes us really nervous especially for the low speed controls with docking and trailering.

If you update your profile with your location there may be a member nearby that could take you out for a few hours to get you familiar with Yamahas, maybe create a thread, "looking for a test ride in or near ......"

is steering/low speed different, yes, definitely, is it something that can be easily learned, yes, definitely,

 

[biffdotorg]

I want the 242 but also don't want to pay the premium for it. But you are saying the hull is better. Why? We don't currently have a Jet boat. We have a deck boat with inboard/outboard and I am trying to learn everything I can about them before purchasing. It makes us really nervous especially for the low speed controls with docking and trailering.

Honestly, I don't know if there really is much difference. It may be just owners being nostalgic for all I know. If you look at the inside of the boats, they are nearly identical, other than the much larger/wider bow. And of course, the more powerful 1.8ltr engines.

I don't think there is much premium for the 242, it's just that the nameplate was used for so many years, folks get the idea that their 2010 is worth as much as a 2020 etc. Yamaha does this with motors, Bikes, Sleds etc to maintian market value for their customers. Many products should have had name changes mid production to help differentate them when major changes were made.

For example, the articulating keel models should have had a name change, this was a big deal. The units with E-series features got that, but many don't notice that little name change. All in all, a 2010 242 and a 2009 232 will be valued very similarly and rightly so.

It's the main reason we bought a 2011 242LS. We got the bigger engines, wider bow, and the lower cost of an older vintage. But most of the advantages of the latest year other than keel and electronics. I have no idea what I would replace it with, for the crazy cost it would be to buy another. So we are tickled to keep running it.

 

[Guy in a Boat]

From what I am seeing for used boats, it's obvious that many were holding out till after the holiday this past weekend. The market is starting to fill, no flood yet, with quality used boats.

This is not true everywhere, but if you were thinking of taking advantage of this insane covid market, better do it quick. Businesses and offices are opening back up, and we have passed that magical mid-point of summer known as July 4th. I have seen plenty of boats hitting FB marketplace and C-list this week. Prices are still insane, but it's obvious that it has to burst soon. Especially since new boats are shipping.


I got reprimanded in FB messenger by a seller last night. And if he is here, I should actually apologize. As I posted a "laughing emoji" on his 2020 AR190 ad. No comments, just that emoji, as it's not my place to point out the obvious MSRP new. As I found it truly funny, that he had it listed for $4,000 more than the boats MSRP in the fall of 2019. As I have said before, you can ask anything you want, and if the market bears you a buyer, good on you. But if anyone thinks that these boats are actually selling for that price, they are fooling themselves.

Well the joke wasn't totally on me, but upon looking up NADA to find the MSRP of that AR, the actual average closing price was just below MSRP. That actually sounds right, as it was a 2020. So little drop sounds good. And he had the premium black cover. But $4000 over, that was funny. Good starting point for negotiation I guess.

This bubble is going to burst, as I see a couple more boats listed here. Fine boats too, but a bit inflated.

Good luck to the sellers, and good luck to those still looking to buy! It's a fun show to watch.

No you did the right thing. There is no accountability in the world anymore and people need to have the piss slapped out of them for price gouging. Home market is the same way.

 

[Jim_in_Delaware]

Not related to the specific question above, but I read an article recently questioning the NADA values of used boats. One of the points was that in the COVID-19 environment, a lot of boat sales have been done personally, seller to buyer. Apparently, private sales are not taken into account in the NADA values. Have to admit, however, I don't know if this would increase or decrease real life values.

Jim

 

[swatski]

Ok so whats yall opinion on purchasing a 2009 232 Limited s for 29-30? it books 33-37 according to NADA? I currently have a boat that I can put up for sale and will make money on but will be priced within NADA guidelines or I can wait and see how the market plays out.

That is probably the best boat Yamaha Boats has ever made. In my opinion, anyway.
We almost got one a few years back, and I'm still kicking myself.

Depending on the current condition, of course. YOu could expect to have to do some work on the pumps (main bearing), steering linkages etc. etc.
But - it is an AMAZING hull, and still great MR-1HO motors, albeit they are no longer replaceable.

Yamaha quality back then was first class.

--

 

[the MfM]

No you did the right thing. There is no accountability in the world anymore and people need to have the piss slapped out of them for price gouging. Home market is the same way.

You say tomato, I say free market.

 

[Beachbummer]

I have not seen that closeness of price on 230 vs 240 series. The 2010 have a significant premium over 2009. (Makes the 2009 a better value in my mind for sure) but the market is not always reasonable or makes sense.

The SX230s are getting older but they continue to be generally reliable. Hopefully as issues come up the market will provide replacements for what Yamaha stops making.

 

[Guy in a Boat]

You say tomato, I say free market.

You are correct on the free market

 

[Guy in a Boat]

I want the 242 but also don't want to pay the premium for it. But you are saying the hull is better. Why? We don't currently have a Jet boat. We have a deck boat with inboard/outboard and I am trying to learn everything I can about them before purchasing. It makes us really nervous especially for the low speed controls with docking and trailering.

Low speed control of any jet boat is like driving a space shuttle, a floating brick with no brakes. About 2-3 times around the dock and youll be a pro, dont let it intimidate you. 242 is a nice boat even in the older models, I bought a 2012.

 

[Hadowajp]

I had bought the wooded 1.25 acre lot next to my property for only 20 grand a few years ago and it was on the market for years. In the past few months i have been approached multiple times with offers from 50 to 60 grand. I will never sell my property, its my forever home and i love it. I am into my house and all the 2.5 acres for only 217k since 2016 and its now worth over 350k. I am still working on purchasing another acre on the other side of my property.

Nice lots are hard to find around here. Houses for sale here with 1/4 acre lots are selling in a few days at stupid inflated prices.

We recently tried to purchase the two lots next to us, the owners asked for a half million??? We have three 1.5ac lots on the st croix, that we purchased in 2018(moved from the Bay Area). One of those lots included a newer home and we still paid far less than what they’re asking for the two 1ac empty lots, it’s bananas right now. I really am thinking of selling my home back in Cali that we kept just in case we ever wished to return.

 

[Hadowajp]

I don’t understand how a thread about the boat market bubble bursting turns into another California bashing thread. I suspect many people bashing California have never been here. I understand state pride but …

I love Cali was born at Travis and spent the better part of my life in Oakland/Emeryville. It’s not the state that’s terrible or the fact that it’s so nice people only enter nobody leaves(historically now it seems to be changing) and everything is crowded everywhere has traffic people think they can toss trash out the window of a vehicle. Some people are just terrible and when you have 40+ million your bound to have many terrible people

 

[anmut]

Back to the subject at hand, and anecdotally only, I have seen a HUGE chunk of boats come up for sale on the FB groups over the last couple of weeks. There have even been a couple boats that were selling at pre-covid prices. Particularly, it looks like Supra is coming out with a new hull design in 2022, so lots of 2021 Supra boats with low hours are for sale. However I only see them once and they're gone, so demand seems to be high as well.

 

[HangOutdoors]

@anmut I am seeing the same thing in a lot of places around here and on the web. They are getting bought quick, but the prices are definitely coming down.

 

[biffdotorg]

Not related to the specific question above, but I read an article recently questioning the NADA values of used boats. One of the points was that in the COVID-19 environment, a lot of boat sales have been done personally, seller to buyer. Apparently, private sales are not taken into account in the NADA values. Have to admit, however, I don't know if this would increase or decrease real life values.

Jim

This is correct. NADA is based on sales by dealerships. In general, dealerships are slightly higher priced. At least the asking price is. They do have a market that many times will not buy private. That being said, I'm a shopper and have always done better in the private market.

A seller or buyer will always try to convince themselves that NADA is wrong for one reason or another. But it truly is surprising how the boat values were reflected pretty accurately over the past 18 months during this crazy market. Just from the few boats I have helped friends buy and sell this past couple years, it has been spot on, and both parties were happy with their deals.

So take NADA as just one source of value, as mentioned, you still need to find someone willing to pay the price for it to be valid. And more importantly, you need to find someone that will put value on the product if you vary from NADA.

 

[Guy in a Boat]

2012 242 LS custom paint, full seadecking blown port engine 50K I know what I got lol. honestly if you guys know anyone I will sell my boat if it means not having to pull that engine, not looking forward to it. I paid 38 in May, owe 35, put 3k in it and the trailer. I posted a thread on here, 242 Overhaul or something like that.

 

[suke]

2012 242 LS custom paint, full seadecking blown port engine 50K I know what I got lol. honestly if you guys know anyone I will sell my boat if it means not having to pull that engine, not looking forward to it. I paid 38 in May, owe 35, put 3k in it and the trailer. I posted a thread on here, 242 Overhaul or something like that.

Confirmed the motor is blown? What happened to it?

 

[Guy in a Boat]

Confirmed the motor is blown? What happened to it?

Clean out plugs blew out flooded the boat. Bilge pump was junk. Installed a new float activated already. I have not pulled the motor down but it is seized.