Is it time to buy a big boat now?

Question

I've been looking at big boat prices now. Larger older boats which had an asking price of $125k-$150K about a year ago, now have asking prices of ranging from $60K-$99K. These are very low prices for well kept older Chris Craft, Hatteras, and Bertams. Obviously the economy is hurting boat prices, My question: Is now the time to buy, or do you think prices will go down even more over the next year?

Answer 1

I'm in the recreation business, My thought is with fuel prices so high and the economy down prices are going to continue to fall for the next 6 months  

Answer 2

The rumor on the waterfront is to buy just before the elections.

Answer 3

All recreational items like this will continue to come down this year. If you have cash, deals will continue to get better into 2009 as the crunch deepens and tightens.  

Answer 4

The first thing a new President does is stimulate the economy with incentives. It will take a couple of months for them to go into effect, but prices will start up as soon as the incentives are announced.

So buy this winter when boats are not in demand and the economic incentives haven't been announced.

Answer 5

If you are in the market, and ready to pay for gas this is the time.

Its a buyers market.

I was just down on the Gulf and I was blown away by how cheap the boats seemed to be. I kept threatening my girlfriend that we were going to buy a 40 footer and take her home up the river.