Heard something concerning today.

[CaughtMeABiggun]

I saw today where a bass boat that had a msrp of 68 grand 3 years ago now has an msrp of 92 grand. I know that we have record inflation, but that just seems insane. I could be wrong but it seems like people have less disposable income now and that kind of price hike is just pouring salt into the wound. I’m planning on making my first bass boat purchase in the next year and at the rate of these increases I’m not sure it’s going to be worth it. I’m also not crazy about the idea of paying 30 grand plus for a 20 year old boat that cost not much more than that new. I’m not sure what would be being the bigger fool. The more I look at it the more I realize that for what I want fiberglass is not an option. More than anything this bothers me because I love this pastime. I hate seeing the fishing industry doing things to destroy itself from within. Kayaks have replaced bass boats for the average fisherman.  For whatever reason the bass boat industry doesn’t seem to view this as a threat to their business. Sorry to be a downer on this but it’s tough to see. 

[DaubsNU1]

That's rough for sure!

 

 

Picture of my then brand new 1999 Silverado...sticker right around $30k. Parents could not believe it cost more than their first house in the 1960's. 

 

 

The 1986 GMC on the right was purchased by my Dad new at cost right around $14k. 

 

I like my Brother's quote: "Buy the boat...get it now...before the price goes up...you aren't getting any younger, and that boat ain't getting any cheaper. Get it now, while you are healthy and can enjoy it. Buy the boat." 

 

So I did : ) 

 

 

 

 

 

[Elkins45]

I can't imagine how the average middle class person with a family could ever have enough disposable income to buy a $62K boat. $92K is just laughable. I think people need to temper their expectations about how much boat they need in order to have a workable fishing rig.

 

It doesn't take 22 feet of fiberglass and 250 HP to catch fish. Don't be a victim of marketing and consumer envy.

[padlin]

Same happened to RV’s, it probably has as much to do with Covid as inflation.

[Captain Phil]

I believe much of the current inflation is artificially created.   For sure, labor and materials cost more, but it seems to be getting out of hand.  My wife and I had breakfast a few weeks ago at a small local restaurant.  All we had was an omelet, some eggs, bacon, toast and coffee. When the bill came, it was $32.  When I questioned the amount, the girl told me that was the price and started telling me about the price of straws.  I told her I don't need a straw!  Needless to say, I'm not going back there.  I bought a car for my wife recently.  The dealer wanted $750 a month for a compact Honda SUV.   That is insane. After 5 hours of haggling and two more dealerships, I walked out with a better car for $32K cash.  You are only a victim if you let it happen.   Buyers need to go on strike.  Only then will we see prices go down.

[Susky River Rat]

Batteries, electronics, TMs could easy add 15k plus to a boat just saying.  
 

10 years ago high end trucks have the stuff low end trucks have now. It’s moving forward with technology.  

[Tennessee Boy]

8 hours ago, CaughtMeABiggun said:

For whatever reason the bass boat industry doesn’t seem to view this as a threat to their business.

I doubt the increase in price is due to the manufacturer increasing their profit margin.  It’s more likely that their cost have increased that much.  Most fishermen can’t afford the bass boats they buy so they borrow the money.  Interest rates have skyrocketed in the last three years so the monthly payments on that boat have probably tripled.

 

I bought my aluminum Ranger five years ago.  I didn’t finance it but if I remember correctly the interest rate was 3.9%.  I just checked the Ranger website and they are currently charging 9.9%.  
 

I have no doubt that the executives at every bass boat manufacturer are wondering how they will survive. 

[Jig Man]

I used to be the sales manager at a boat dealership.  I only remember 2 cash buyers.  The rest needed financing.  I worked with many banks seeking financing for them.  Their terms and conditions varied according to their credit history.  The truly sad thing was a lot of them needed to include the sales tax as part of the loan and their primary concern was, HOW MUCH IS MY MONTHLY PAYMENT.

[Captain Phil]

1 hour ago, Tennessee Boy said:

I have no doubt that the executives at every bass boat manufacturer are wondering how they will survive. 

 

I have experienced many of these cycles in my lifetime.   In the 80s, I had an 18% negative interest home mortgage that makes today's 6% rates seem free.  If you need something and can afford it, you pay the price.   If you don't "need" it, don't buy it.  This is not a good time to buy anything unless you can't live without it.

[TOXIC]

Let’s be honest, a fully rigged 20 foot bass boat is inching over 100k.  If people weren’t buying them, they wouldn’t be making them.  As for not needing a decked out 20ft bass boat, half of us don’t need the vehicles we have to get from point A to point B.  Argument could be made that if you fish big water you do need that 20-21ft and 250.  I’ve never questioned how another man spends his $$, I just make sure I have full grasp on where mine goes.  Yes, I have a 21ft Ranger with a 250 Yamaha but it’s a 2005 model and I am still running gen 1 electronics.  Suites me just fine.  

[AlabamaSpothunter]

It's America, the land of 20yr/zero down loans.  We printed and handed out for free as much money from 2020-2023 as all the money before that point.  

 

Our dollar is little more than Monopoly Money at this point.   Grocery bills have gone up 25-50% for many in the last few years.   

 

Just like in 08-09, the first things that will be sold are Glitter Rockets, RVs, Side by Sides, etc.   That time creeps nearer and nearer.   Eventually they can't keep kicking the can down the road.    

 

Interestingly enough according to guys like Swindle and Hackney, the professional Bass fishing money for anglers has never returned to the pre 2009 days.   

[Glenn]

Same story, different dates.

 

Example: Way back when, a new 1974 Camero cost $2,000, which was considered absurdly high, given the 9% inflation rate (which ballooned to over 14% a few years later) and 6% unemployment rate. Plus the Arab oil embargo of 1973 put the United States economy in a tail-spin, causing fuel shortages, a quadrupling of oil prices and long lines at gas stations.  Mortgage rates were over 13% by the end of the decade.

 

$2,000 was crazy-high back then.

 

Rinse, lather, repeat.

[Team9nine]

From the looks of my FB feed, there are plenty of bass guys that are willing to drop $60-$90k on a boat these days. If nobody was buying, the companies couldn’t charge that much, or stay in business. I just read a news story this past week that the lowest salary people consider worth changing jobs for these days is now $80k. My wife and I combined never made that much for most of our working lives. Needless to say, I’ll never have a $90k boat, but there appear to be plenty of people that can afford and do have them. Everything just goes up in scale; houses, salaries and toys ??

[Woody B]

A quick search tell me the inflation rate from 2020 until now is ~18%.   That would make the $68K boat be priced at ~$80K.   It makes sense to me that "luxury items" like boats would have a higher inflation rate than some other stuff.   Also, the 2020 price may have been lower than the 2018 or 2019 price due to covid.   

 

I'm going to try to stay inside the lines here.   It's my belief that the current inflation is by design.   It's a redistribution of wealth.   It works multiple ways.  The money I've saved all my life (accumulation of wealth?) isn't worth as much as it was in 2020.  I can't buy as many bass boats and new trucks with my savings as I could 3 years ago. 

I'm a well paid experienced professional.   I'm not using 2020 for an example due to covid.  In 2022 I made ~4% more than I did in 2019.   The average worker at an entry level job made as much as 50% more in 2022 compared to 2019.   I still work just as hard, and have the same in demand skill set I had in 2019,  but my pay isn't keeping up with entry level pay.   If this trend keeps up I'm going to quit my current job and get a job flipping burgers.   

[gimruis]

I went to the Minneapolis Boat Show in January and this is what I saw.  Special Edition.  It was at least nice to sit in it.

 

Anyone that has kids knows that a boat is cheap.  I have both.  The boat costs far less.

[CaughtMeABiggun]

Woody B you just hit the nail on the head. At some point all salaries have to start going up to. The entry level pay going up has now de-valued higher skilled jobs. Meanwhile consumer goods are

rising at break neck speed. I do agree with you that this is by design. It’s a design that can only lead to one thing.

[Born 2 fish]

I looked at and got a quote on a bass boat in 2020 I just bought that same exact boat in 2023 the price was almost exactly 10k more. But if you want a new boat I’d buy it the price isn’t going to come down. If brand x manufacturers are selling them now at this price they will not be lowering their prices. You might save on whatever a dealer has in stock. Of find a jem of someone looses their job. 

[Goldstar225]

As with everything else in life, buy what you can comfortably afford and be content.  For some that will be a basic jon boat and 9.9 outboard, for others a 100K+ boat that they can pay cash for.  (FWIW even a 40K boat is not in my future?)

[Vilas15]

6 hours ago, Woody B said:

I'm a well paid experienced professional.   I'm not using 2020 for an example due to covid.  In 2022 I made ~4% more than I did in 2019.   The average worker at an entry level job made as much as 50% more in 2022 compared to 2019.   I still work just as hard, and have the same in demand skill set I had in 2019,  but my pay isn't keeping up with entry level pay.   If this trend keeps up I'm going to quit my current job and get a job flipping burgers.   

Me too but I'm at 20% in that time. Could have easily changed jobs for even more than that. Demand more from your employer or find a new job. If you think the low earners are the ones benefitting these last few years you're out of your mind. I locked in a low interest rate on my house while people are seeing crazy rent increases eating up any increases in wages.

 

Boats are getting more expensive partly  because theyre constantly adding features. Every year theyve got to add more and more to compete. Think of a new boat today vs if you bought a 20 yeard old boat new today. Same with vehicles.

[Elkins45]

The “arms race” to own the latest version of electronic gizmos isn’t helping either, and nothing loses value faster than technology. My 2007 outboard is every bit as functional as it was the day it left the factory but my 2007 sonar/GPS might as well be an Atari 2600 Pong game compared to the giant screens people are buying today. And I doubt I could sell it for $15 on eBay.

[volzfan59]

The fiberglass boat and vehicle industry have priced themselves out of the market for me, I don't finance anything. Could I purchase a new, fully loaded fiberglass and/or truck? Yep, by the grace of God I sure can. Will I throw the money away on something that in no way is worth what they're asking? Not only no, but heck no! Looking for a lake or river lot right now. Like I told my wife at the last boat show that we attended, if it doesn't come with a zip code I'm not going to throw away that kind of money. I look at the new boat advertisements in Bassmasters magazine and just chuckle. P.T. Barnum was correct.

[airshot]

21 hours ago, DaubsNU1 said:

That's rough for sure!

 

 

Picture of my then brand new 1999 Silverado...sticker right around $30k. Parents could not believe it cost more than their first house in the 1960's. 

 

 

The 1986 GMC on the right was purchased by my Dad new at cost right around $14k. 

 

I like my Brother's quote: "Buy the boat...get it now...before the price goes up...you aren't getting any younger, and that boat ain't getting any cheaper. Get it now, while you are healthy and can enjoy it. Buy the boat." 

 

So I did : ) 

 

 

 

 

 

Neighbor just bought a new pickup....80K plus...

I bought a 1992 side console aluminum boat and outboard last summer, like new, mint condition, a garage queen.  Paid 4500 cash, went to Bass Pro just to compare....same size, model etc almost 30K.....

[TnRiver46]

If people are buying them, they will keep selling them 

[Bankc]

Over the past 40-50 years we've been on a trend of more and more money being concentrated into fewer and fewer hands.  As a result, there are more people than ever before that can afford a $100k bass boat, and fewer people than ever before that can afford a boat of any kind.  So the manufacturers are just making whatever will make them the most money.  And since there's more profit in churning out one high-end bass boat than churning out 5, low-cost boats, that's what they'll concentrate on.  The middle of the market has largely been hollowed out.  It's either luxury bass boat or kayak/jon boat.  

 

Companies aren't in the business of making customers.  They're in the business of making money.  And unfortunately, it's just not good business sense to make affordable boats right now.  Kind of the same thing with housing and automobiles.  

[TnRiver46]

@Bankc, no matter the topic, you always seem to be able to step back and see the bigger picture. I wish I could pay as close attention to the details as you do