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Discussion Starter · #1 ·
Yes, another good time to buy question.

I've had my boat listed for sale for a little while, and not a lot of activity. I've lowered the price and still nothing.

There is another larger boat I'd like to purchase, and that would be a great deal right now.

So, is it smart to own two boats right now in this economy?

With one boat, I was prepared that if I didn't sell, I'd just keep. No problem. BUT, with TWO boats, just curious what input people would have on whether or not that is smart (well, smart for a boat owner...none of us are smart for buying anything that floats in the first place..LOL!)

What would you do?
 

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There are a few problems I see with being a two boat owner (done it TWICE now).

1) Potential buyers who are wise to the fact seem to think you are borderline bankrupt and desperate.
2) You can only drive one at a time.
3) You could become borderline bankrupt and desperate.

It's a catch 22, market is so good you can't stand to pass up a deal on a larger (less fuel efficient) boat. At the same time, gas and US economic woes are killing just about the WHOLE boat market, not just the bigger ones.

What would I do?

Just what I did, be realistic about what my "old" one is REALLY worth before I make any decisions. Buy the bigger boat.

And, yes, "smart" and boat ownership do not go together under any circumstances. ;)
 

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I'm in the same situation. I've had no hits on my boat and there are a couple boats I would buy tomorrow if mine sold.

If it wasn't for rising gas prices and the crappy economy I would buy another boat and hope my current boat sells in the meantime. But I'm convinced I might have this boat awhile. I get limited use of this one (still in storage), I don't need 2 boats not being used.
 

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Later in the summer it gets, the scarier that proposition will become too. I took my chances in March, not July...... :rolleyes:
 

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Yes, had to make some hard decisions this year based on some similar factors. Realized that it just was not worth the risk, it would have put my family in a tight place.

Sit tight, I think it's going to be a long ride before the boating market looks brighter.
 

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Discussion Starter · #6 ·
275Boss said:
I'm in the same situation. I've had no hits on my boat and there are a couple boats I would buy tomorrow if mine sold.

If it wasn't for rising gas prices and the crappy economy I would buy another boat and hope my current boat sells in the meantime. But I'm convinced I might have this boat awhile. I get limited use of this one (still in storage), I don't need 2 boats not being used.
I JUST got our Fountain out of storage last weekend and still have yet to use it, or even put the batteries back in it. So, same situation......

Is there a therapist anyone can recommend?
 

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Discussion Starter · #7 ·
PJDiesel said:
There are a few problems I see with being a two boat owner (done it TWICE now).

What would I do?

Just what I did, be realistic about what my "old" one is REALLY worth before I make any decisions. Buy the bigger boat.

And, yes, "smart" and boat ownership do not go together under any circumstances. ;)
Did you buy? And did you sell the other this year?
 

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Bought at the end of last year and have yet to sell the other. It has been for sale on and off for about a year. Have been a 2 boat owner for the past 2 almost three years.
 

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32fever said:
Did you buy? And did you sell the other this year?
Yes, did end up buying (wife was relentless).

Sold mine within a few weeks of getting the "new" one. My "old" boat was worth just under $20K though, so I imagine the market is/was better in that price range.

I had A LOT of activity on my boat though, right from the get go. Only really had two people out of about 20 or so that called actually stop by. The second one bought it.

So, I guess there was some confidence in the fact that it would sell this summer.
 

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hot shot388 said:
Bought at the end of last year and have yet to sell the other. It has been for sale on and off for about a year. Have been a 2 boat owner for the past 2 almost three years.
See, thats the thing that scared me. I knew my boat was not APPRECIATING in value, so I was really worried about having two boats (and probably only using one).
 

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I was thinking the same. My conclusion, for me anyway is the insurance and storage would be a killer. Plus, if fuel hits $7.00+ a gallon, I will be hardly riding around at all. On the other hand, I larger boat will be more comfortable for the long days out at the cove or weekend trips. More sitting less running. If I buy the boat I want I figure it could be almost two years before I get out on the water again on a regular basis. If I thought I could sell my boat I would have done it by now.
 

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32fever said:
I JUST got our Fountain out of storage last weekend and still have yet to use it, or even put the batteries back in it. So, same situation......

Is there a therapist anyone can recommend?
why would you buy another boat if you don't use or have time for the one you have now ??
 

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jb said:
take the hit on your current ride and buy the other if the deal is that good...
Right, you might just try out lowering your asking price down into the lower 50's for a while to see if you can spark some activity.
 

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Discussion Starter · #16 ·
MarkyMark said:
why would you buy another boat if you don't use or have time for the one you have now ??
Well, we live in MI, so we have 4 months to use it. We have twins that are 3 years old, so the last 3 years have been limited use and I work a lot of hours.

So, I can work and afford 2 boats, or quit and have no boat :)

Can I use yours while you are at work?
 

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Discussion Starter · #17 ·
PJDiesel said:
Right, you might just try out lowering your asking price down into the lower 50's for a while to see if you can spark some activity.
Normally, you'd get calls with "lowball" offers, but I haven't even seen that.

If we only knew when the market would bottom out and at what point that is, that would be nice. However, if any of us knew that, we'd all be rich enough to afford 10 or 12 boats (and the fuel!) :winker:

I wish I could afford a 2nd home on LOTO, I'd just keep one boat there.
 

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32fever said:
Well, we live in MI, so we have 4 months to use it. We have twins that are 3 years old, so the last 3 years have been limited use and I work a lot of hours.

So, I can work and afford 2 boats, or quit and have no boat :)

Can I use yours while you are at work?
4 months? Where do you live Houghton?

I get almost 9 months out of my boat last summer...and started in April this year and expect to make it through mid november.
 

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Discussion Starter · #19 ·
UP_ROKTOY said:
4 months? Where do you live Houghton?

I get almost 9 months out of my boat last summer...and started in April this year and expect to make it through mid november.
Yep, I'm a wussy. I don't get out until June at least and usually put away in Sept. Too many other things to do when the weather is nice. By the time I finish our spring projects around the house, it's usually mid June. And I put away early and enjoy some of the cars I collect and do more cruises and fall car shows. If it's not 80 degrees and the water warm enough to at least stand in, I'm not interested in boating much.

We all have different priorities and other hobbies and interests. boating is one of mine. It was at one time the main hobby, but in time, other things have taken time away from boating. Makes a 2 boat decision more difficult. But, with a new to me boat, I'd probably get more motivated to use it more often.

The kids enjoy it, so that's a nice bonus. A typical season for me is 40 hours on the boat. Even when I used to take 12 weeks of vacation in a year, I still didn't use it that much more.
 

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32fever said:
Yep, I'm a wussy. I don't get out until June at least and usually put away in Sept. Too many other things to do when the weather is nice. By the time I finish our spring projects around the house, it's usually mid June. And I put away early and enjoy some of the cars I collect and do more cruises and fall car shows. If it's not 80 degrees and the water warm enough to at least stand in, I'm not interested in boating much.

We all have different priorities and other hobbies and interests. boating is one of mine. It was at one time the main hobby, but in time, other things have taken time away from boating. Makes a 2 boat decision more difficult. But, with a new to me boat, I'd probably get more motivated to use it more often.

The kids enjoy it, so that's a nice bonus. A typical season for me is 40 hours on the boat. Even when I used to take 12 weeks of vacation in a year, I still didn't use it that much more.
With your story, unless you have money to burn, I wouldn't even think of being a two boat owner. But, if you must then have your old boat well prepared to sell at a very reasonable price. I did the 2 boat owner for a while, but I listed mine well below NADA pricing. Still I was very nervous and if I hadn't sold it at the end of May then I would not have done a whole lot of boating until it was sold.
 
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