Overall Boat Prices

[tf2ttt]

Went to the Cincinnati boat show over the weekend and found that the prices for boats have really jumped. Now most boats had lots of options and it appears that you can certainly get a base model for cheaper, but it seems that on average at the show a 21 to 23 foot boat is now going to cost you around $90,000. These were all open bow from a few different manufacturers (not just Rinker). Anything over 23 foot is well over $100,000. What is going on in the industry that is causing these huge price hikes? It seems prices have jumped $10 - $15k just in the last year or so. I recall looking at a Rinker 223 cuddy with a fair set of options and 350 mag for $32,000 10 years ago. How does your average family afford to buy a new boat these days? Do any of you think this is a bubble and prices will come back down to earth once it pops? Or are these just what prices will be from now on?

Man am I glad we bought a new boat in 08 because I wouldn't even come close to being able to afford the same boat at today's prices.

[Rinker342]

I don't think the boating business is every going to be the way it was 5 years ago.  Manufacturers have cut their costs (including employee costs) to the bone and they don't have the ability to make or inventory as many boats.  Many delaers won't floor plan expensive boats, so that leave the manufacturers with making boats to order.... again, fewer boats.  Since dealers don't want to make the investment, many of them are in bed wth investors who cover the cost of their inventory, so negotiating with a dealer is not as productive as it used to be either.  Bottom line, boats are more expensive, harder to find and not nearly as affordable as a few years back.

[Lifes Good]

And why I love my 2006!

Here are some of the reasons why the cost of a boat has inflated over the past few years. Welcome to inflation!

1)   Resin – Petroleum based.  We are all paying more for that stuff!
2)   Copper – Wiring is all over the boat
3)   Carpet – Again Petroleum based
4)   Supply and Demand – Generally this works in our favor but with less consumer’s means volume can’t make up for the margin dollar loss needed to support the production floor, molds and tooling.  Hence price increase to make reasonable profit.
5)   Boats are getting smaller with more stuff.  
a.   Example.  The 310 and 320.  34ft X 11.5.  Replaced by the 2011 310.  33ft X 10.6.  Add up the stuff we have on our boats and put it on a new boat and they charge the same we did a few years ago… Just a smaller boat that looks bigger…. Hence, keeping costs down and suggested retail price in check.  Like a can beans.  Was 14oz now 12.5 oz but the same price.
6)   Electronics – Really good stuff available these days.  Go back 5 years and you’ll see the difference in what you pay for today. Got love them toy’s!   BUT if these things break down it will COST YOU!   
a.   GPS (Touch screen ah feels so good!)
b.   Radar (Look I can see the log now!)
c.   Sonar (Wow look at the size of that fish!)
d.   Fly by wire controls (She is sexy smooth!)
e.          Joy stick docking.  (Look my 5 year old can dock the boat!) Not sure the insurance guy wants to know that...
f.   Electronics’ out the yin yang on the power plant.  (Look mom she can talk to me!) (5 years ago it was just a block with an outdrive and had to listen for something not right).
g.   Vendor shipment cost to get all the parts to the boat builder
h.   Vendor costs are increasing and passing costs on to boat builder
i.- z.   The list goes on!  

OK I am done ranting and raving…

PS… I do love the boat shows!  What can I add to my boat that I cannot live with out????


And why I love my 2006!


LG

[pepmyster]

At the Toronto show, the Rinker 2012 290 (same size as my 280 but different floor plan,that dosen't make sense) was 79,995$. That wasn't a bad price in my opinon. I found that the dealers were aggressive. They,the show, as of the 2nd to last day of the show has sold 595 boats.

[tf2ttt]

@ pepmyster Yeah that is a lot cheaper price than what was at the show here in Cincy. All the boats down here were spec with towers and speakers everywhere and all kinds of options. All those options add up fast I guess.

[alswagg]

I believe the new boat builders, including Rinker, needs to take a step back and locate their customers again.  Basically they have lost their way.  I believe Rinker lost track of its customers back in 2006.   The New boat market is flat,  many manufacturers are still floundering.  Since most used boats are EFI, they are lasting much longer and really no need to buy a new boat.  For the standard runabout market, really boats have not changed much.  It is much cheaper to upgrade your current boat than buy a new.  Al

[DaleM]

Didn't make any boat shows this year but $90,000+ for a 23' boat, I don't care how much petroleum based product you have in there that's WAY overpriced.  I guess the nice thing about is that the used market can boost their prices a bit.  I have a real nice 1996 232 CC with the 7.4L Bravo 1 drive, last I looked it wasn't worth much more than $8500, that's why I kept it after buying my 270.  Maybe I can get $17,000 now.     

[Le Meez]

I've only been on the boating scene for a little over 2 years, and from what I see at the Toronto boat show as well as the used market, prices appear as aggressive as ever. Maybe the advertised list price and what they really sell for is what you are seeing.

[pepmyster]

Yes, you got that right, very agressive.Good for the buyer, good for everyone. The used market still, and will always , play a large role .

[markbellino]

Hey tf2tt

Those prices are ridiculous. The toronto boat show had much better prices. At least $15000 off the prices you saw in Cincinnati.

[tf2ttt]

@ markbellino: Yeah like I said I think these boats were spec with just about every option. I'm sure a base model would be cheaper but that didn't seem to be what the dealers were trying to push. Usually you'll see one boat that is totally tricked out to be the show piece for them but it seemed just about all the boats everyone had were like this. They were fun to check out but those price tags were hard to swallow. With all the dealers that have gone out of business in the last year and half you would think the ones left in the Cincy/Dayton area would try to make things a little more affordable for the average joe.

A Cobalt had a hydraulic swim platform that raised and lowered into the water  among a ton of other options. Again this was a 23' boat priced at $115,000.

The only boats that were somewhat in a reasonable range were the Stingrays, although I still thought they were a bit pricey for what you get.

[Capt Ron]

Boat prices for new ones at the TO show where pretty reasonable this year. Better prices for used because of the high demand and lower numbers. I've had people leave notes on my boat asking me to sell it to them. Like Life's Good said...I love my 320. At 34' 8" LOA and 11' 8" beam, not many can compare to the size of lounge and cabin. Rinker doesn't make these boats anymore...a real pity. I guess I will be keeping her as long as possible.

[AndyDale]

Nobody has mentioned product liability insurance costs going up every year. Trial lawyers get rich off suing when people get hurt, often when it is no fault of the manufacturer and is even frivolous. Companies will often settle because it's cheaper than litigating and because they carry insurance policies that pay the claims.

I know in the aviation business a company like Cessna is potentially liable for accidents involving any Cessna, all the way back to the founding of the company. Hence the sky high cost of general aviation aircraft.

Andy