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Old 03-18-2020, 05:46 AM   #1
Soulakala
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Default Boat Deals Coming Up

With the economy tanking and unemployment numbers likely to hit astronomical highs the toys will be hitting the market soon. If your thinking about a boat and have the cash this could be the best buyers market in history.
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Old 03-18-2020, 05:59 AM   #2
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With the economy tanking and unemployment numbers likely to hit astronomical highs the toys will be hitting the market soon. If your thinking about a boat and have the cash this could be the best buyers market in history.
I think you are spot on. I was actually looking at that this morning. It may take a bit for the dealers to start slashing prices though. I believe they are going to try and hang on to the profit margin for now.
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Old 03-18-2020, 06:04 AM   #3
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One difference compared to previous financial crashes, the fundamentals of the economy were very strong when the panic started. Some of the worry might turn out to be real, but we really don’t know. We also don’t know how fast the economy would come roaring back.

I found this statement humorous on another site ... they were serious.

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If you are over reacting, you've got it right.
No body knows yet was is to come.
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Old 03-18-2020, 07:01 AM   #4
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Sadly, I think you may be right but I don't expect to see huge savings at a dealerships. I think guys may be forced to sell stuff privately at huge discounts.

I might be just optimistic, but I think that whenever we get a green light, Americans are going to spend money at full speed- restaurants, vacations, big tips...
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Old 03-18-2020, 08:01 AM   #5
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Default Re: Boat Deals Coming Up

I'd planned on being in Florida today to pick up a boat. I'm not there. Might be some real deals in another month or two when travel won't be so challenging.
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Old 03-18-2020, 08:02 AM   #6
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Originally Posted by Soulakala View Post
With the economy tanking and unemployment numbers likely to hit astronomical highs the toys will be hitting the market soon. If your thinking about a boat and have the cash this could be the best buyers market in history.
Buy stocks with the cash buy boat at 3% interest
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Old 03-18-2020, 08:28 AM   #7
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If you have to sell your toys you probably shouldn't have them in the first place. They are a want,not a need. I have mine and they are paid for. I put a tremendous amount of time and thought in before I bought them. They were NOT NEW. I'm also glad that I'm retired. Sadly many people live beyond their means. And when something like this happens they get hit the worst. Being in the Lumber industry all my life I was in a couple of severe layoffs. Remember 1980? No one cared about the Logger's and Sawmill guys.If it isn't happening to you people don't give it much of a thought. But even then I found work to support my family as best I could. It wasn't pretty but we survived. The biggest thing about this is all the conjecture about what could happen and not what will happen. I hope this does not get that bad. There are a lot of businesses and people making a killing on this. And back to the OP'S point they will probably be some great deals around. It is what it is.
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Old 03-25-2020, 12:51 PM   #8
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If you have to sell your toys you probably shouldn't have them in the first place. They are a want,not a need. I have mine and they are paid for. I put a tremendous amount of time and thought in before I bought them. They were NOT NEW. I'm also glad that I'm retired. Sadly many people live beyond their means. And when something like this happens they get hit the worst. Being in the Lumber industry all my life I was in a couple of severe layoffs. Remember 1980? No one cared about the Logger's and Sawmill guys.If it isn't happening to you people don't give it much of a thought. But even then I found work to support my family as best I could. It wasn't pretty but we survived. The biggest thing about this is all the conjecture about what could happen and not what will happen. I hope this does not get that bad. There are a lot of businesses and people making a killing on this. And back to the OP'S point they will probably be some great deals around. It is what it is.

It's when the tide goes out you find out who's been swimming naked.
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Old 03-26-2020, 05:06 AM   #9
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Default Re: Boat Deals Coming Up

And the tide is receding. I have been watching the SW Washington housing market since last summer. We have the down pop and can make the payments but the price of houses these days is ridiculous. Low interest will make buying possible but the over extended who can't make the payment won't benefit from a 0% interest rate. I'm seeing a lot of pre-foreclosure sales already.
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Old 03-19-2020, 10:07 AM   #10
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Buy stocks with the cash buy boat at 3% interest


I actually like this advice. Even in better times, the market will likely outperform the interest you throw away on a boat loan. And It will compound over time.

Put a stove and pooper in that boat and call it a second home so you can write off the interest!!!


With this current market spiral, my wife and I have doubled our 401K contribution percentage, and maxed out two Roth IRAs for the year. Our initial plan was to work on knocking our mortgage down, but we stand to gain much more with the investments than the 3.125% we pay on the house. I’d like to not have that interest, but we can deduct it from our taxable income, which gets us under the max that we can “earn” and still be able to purchase Roths. Once the mortgage is gone, we will have to recognize all of our earnings and pay through the nose for it. We’re limited to how much we can put in a 401K each year, so we will be just handing it all over...


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Old 03-19-2020, 07:02 PM   #11
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I actually like this advice. Even in better times, the market will likely outperform the interest you throw away on a boat loan. And It will compound over time.

Put a stove and pooper in that boat and call it a second home so you can write off the interest!!!


With this current market spiral, my wife and I have doubled our 401K contribution percentage, and maxed out two Roth IRAs for the year. Our initial plan was to work on knocking our mortgage down, but we stand to gain much more with the investments than the 3.125% we pay on the house. I’d like to not have that interest, but we can deduct it from our taxable income, which gets us under the max that we can “earn” and still be able to purchase Roths. Once the mortgage is gone, we will have to recognize all of our earnings and pay through the nose for it. We’re limited to how much we can put in a 401K each year, so we will be just handing it all over...


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Might not be as bad as you think when you pay off your house. The standard deduction went way up with the new tax code. Saved us ~10k in taxes last year.
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Old 03-20-2020, 11:35 AM   #12
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Might not be as bad as you think when you pay off your house. The standard deduction went way up with the new tax code. Saved us ~10k in taxes last year.

Ya it’s not easy to find the deductions for us anymore to beat the standard deduction since our house is paid off!

Even if you are in the final stretch of your mortgage the standard might be more than property and mortgage interest.


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Old 03-20-2020, 04:49 AM   #13
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I actually like this advice. Even in better times, the market will likely outperform the interest you throw away on a boat loan. And It will compound over time.

Put a stove and pooper in that boat and call it a second home so you can write off the interest!!!


With this current market spiral, my wife and I have doubled our 401K contribution percentage, and maxed out two Roth IRAs for the year. Our initial plan was to work on knocking our mortgage down, but we stand to gain much more with the investments than the 3.125% we pay on the house. I’d like to not have that interest, but we can deduct it from our taxable income, which gets us under the max that we can “earn” and still be able to purchase Roths. Once the mortgage is gone, we will have to recognize all of our earnings and pay through the nose for it. We’re limited to how much we can put in a 401K each year, so we will be just handing it all over...


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Yep. Under the new tax bill SALT goes away for many (including myself). Close to maxing out that 19.5k in the Roth but it really hurts on taxes at the end of the year. Gonna move more money from bonds to stocks here shortly.
On the OP I sure hope some good deals pop up but it'll be a little longer. I'd like to jump on a great deal but I'm pretty happy with my current boat that I would then have to sell in a down market.

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Old 03-20-2020, 05:49 AM   #14
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The average American across all social demographics and income is cash poor and debt HEAVY...

Even the folks that make the SIX figures have large debt on average.

DEALS are a'coming!
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Old 03-18-2020, 08:20 AM   #15
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Till everyone remembers last summer.
And the wide open tuner bite.
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Old 03-18-2020, 08:48 AM   #16
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I'm going to be in the market for a new truck soon.
I'll take 0% financing, thanks much.
The problem for private sellers of toys will be lack of cash buyers.
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Old 03-18-2020, 09:09 AM   #17
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I'm going to be in the market for a new truck soon.
I'll take 0% financing, thanks much.
The problem for private sellers of toys will be lack of cash buyers.
Yep, and that will even further depress prices.
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Old 03-18-2020, 09:54 AM   #18
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I look for real estate to take a hit also.
I hope I'm wrong.
Although you can get a loan at 2.75 % right now, if you can qualify.
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Old 03-18-2020, 10:23 AM   #19
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One of those boats might be my friends. He JUST bought a brand new Alumaweld, and is (or was) about 5 years from retiring. With his 401k in the pooper, hes seriously regretting buying it now. Couple that with him being in the construction industry, hes pretty worried. I feel bad for him.
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Old 03-18-2020, 10:45 AM   #20
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One of those boats might be my friends. He JUST bought a brand new Alumaweld, and is (or was) about 5 years from retiring. With his 401k in the pooper, hes seriously regretting buying it now. Couple that with him being in the construction industry, hes pretty worried. I feel bad for him.
Going to be a lot of people in the same boat, no pun intended. One tiny example, the Dennys where I had breakfast on Monday is now take out only. Guess how many servers are out of work. One dozen, two dozen? Multiply that by all the food services shutting down or blocking sit-down service. Then the question is whether a traditional sit-down restaurant can survive of put the owner in bankruptcy. And that's just food services. There will be a lot 'toys' for sale within a month or two when people face repossessions.
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Old 03-18-2020, 10:28 AM   #21
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Good luck to those planning to make a special purchase.



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Old 03-18-2020, 12:17 PM   #22
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Mine was paid for many years ago, no way would I even consider selling. Too much sweat and labor put into in customizing. And it has new Yamaha's. Motors paid for with cash.

Besides I enjoy being out on the water, be it fishing, crabbing or just cruising and marking interesting fishing areas with the chart plotter. Lots of territory up here on the Straits.

If a guy has to sell his boat every time the economy shifts, then he had no business buying in the first place.
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Old 03-18-2020, 01:50 PM   #23
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Mine was paid for many years ago, no way would I even consider selling. Too much sweat and labor put into in customizing. And it has new Yamaha's. Motors paid for with cash.

Besides I enjoy being out on the water, be it fishing, crabbing or just cruising and marking interesting fishing areas with the chart plotter. Lots of territory up here on the Straits.

If a guy has to sell his boat every time the economy shifts, then he had no business buying in the first place.


While I do agree that toys are best purchased without large debt, it is the reality that a lot of people have boat payments. Some of them big ones. For a long time.

This appears to be a bit more than a typical “economic shift”, as you put it. Many businesses are going to feel a major pinch, if they aren’t already. Jobs will be lost; hopefully short term. For some, freeing up that $300-800 per month for a boat that is not a necessity may eliminate all of the additional stresses that reduced income could mean.

You say your boat has been paid for many years ago. Assuming you’d financed it, would you have had to make a decision about it if your income was cut in half?


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Old 03-18-2020, 06:16 PM   #24
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While I do agree that toys are best purchased without large debt, it is the reality that a lot of people have boat payments. Some of them big ones. For a long time.

This appears to be a bit more than a typical “economic shift”, as you put it. Many businesses are going to feel a major pinch, if they aren’t already. Jobs will be lost; hopefully short term. For some, freeing up that $300-800 per month for a boat that is not a necessity may eliminate all of the additional stresses that reduced income could mean.

You say your boat has been paid for many years ago. Assuming you’d financed it, would you have had to make a decision about it if your income was cut in half?


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No financing for the boat, saved up the cash and paid for it on delivery.
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Old 03-18-2020, 06:31 PM   #25
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We did the same.
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Old 03-18-2020, 08:15 PM   #26
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Its a shame that some will end up needing money and the quick source is the toy sell off. My mindset is I may find a deal but I am also helping out someone that is cash scraped. I hope this ends up to be a big media hype when its over but time will tell.

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Old 03-18-2020, 09:26 PM   #27
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My three favorite words in a classifieds ad:

Divorce
Forces
Sale!


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Old 03-23-2020, 04:26 PM   #28
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My three favorite words in a classifieds ad:

Divorce
Forces
Sale!


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Me too. Especially because there isn't much fight left...

Sadly I was there too once..
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Old 03-23-2020, 04:30 PM   #29
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Fair market value is the price at which a willing buy and a seller, neither under obligation to make a transaction, agree to an exchange. Doesn't matter what anyone else thinks.
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Old 03-23-2020, 04:31 PM   #30
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Me too. Especially because there isn't much fight left...



Sadly I was there too once..


You know why divorce is so expensive, don’t you?











Because it’s worth it...






<Jokingly says the guy who has no personal experience in the divorce arena.>.


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Old 03-18-2020, 09:38 PM   #31
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Was ready with cash in hand during the great recession... never did see the deals everyone predicted.
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Old 03-18-2020, 09:49 PM   #32
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My buddy picked up a 19’ Seahawk brand new on the coast, in 2008 from a dealership for 28k. 12 years later with a fishfinder and kicker, he could sell it for the same amount. Next month probably not.
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Old 03-19-2020, 12:04 AM   #33
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With the economy tanking and unemployment numbers likely to hit astronomical highs the toys will be hitting the market soon. If your thinking about a boat and have the cash this could be the best buyers market in history.
Boat deals, gun deals, motorcycle deals, housing deals. It's all coming if aren't the unlucky victims of the coming depression.
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Old 03-22-2020, 01:44 PM   #34
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Boat deals, gun deals, motorcycle deals, housing deals. It's all coming if aren't the unlucky victims of the coming depression.

In Seattle and beyond, the majority of these workers who can afford these toys and million dollar homes are working remote. I doubt we'll see the deals that everyone is hoping for.
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Old 03-20-2020, 06:18 AM   #35
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Ive been contemplating selling my NR Seahawk... Guess I will hold onto it a little longer now. Not sure how many buyers will be out there until this settles... Lucky it's paid for along with all my other toys. Never been a payment fan and all this just makes me feel stronger about that.
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Old 03-20-2020, 06:41 AM   #36
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5thGen: Yup. Debt has no income boundary. Those who appear to have the most can just as easily have the least. Folks should not envy anyone who appears on the surface to have it all. You may be way ahead of them and should be happy that you are.



Kinda like this... Fellow says, I bought a new truck, boat, camper, trailer, etc., payments are only $XXX..... Wait a minute, you said you bought the boat. Sounds like the bank bought it and they're letting you use it.



Nobody owns anything till they can hold the title in their hand.
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Old 03-20-2020, 10:13 AM   #37
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The average American across all social demographics and income is cash poor and debt HEAVY...

Even the folks that make the SIX figures have large debt on average.

DEALS are a'coming!
A full driveway doesn't mean you actually own anything. Way too many people make major purchasing decisions based on how much of a payment they can squeeze out of their income. I guess that's great while it works but really sucks when the piper comes with his hand out.
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Old 03-20-2020, 10:25 AM   #38
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Buy a boat or go spend a lot of money at local stores and restaurants to help them back on their feet? Tough decisions....

Neighbor just put his house up for sale a couple of days ago. I feel bad for that guy. Who is going to buy a house now? Makes zero sense.
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Old 03-20-2020, 11:10 AM   #39
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Who is going to buy a house now? Makes zero sense.
I know a couple of people who did in the '08/'09 timeframe in the area near Sisters; they scored big time.
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Old 03-20-2020, 11:36 AM   #40
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I know a couple of people who did in the '08/'09 timeframe in the area near Sisters; they scored big time.
Bought the lot my house in now on for less than half of the ask. Disputed the appraised value with the tax office and got it lowered to purchase price. That's saved a tidy sum in the 5 years since I moved in.
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Old 03-20-2020, 11:44 AM   #41
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I know a couple of people who did in the '08/'09 timeframe in the area near Sisters; they scored big time.
Right, they got it after it went down, not right before it dropped. Same thing here.

Now is a terrible time to buy. 6 months from now though?
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Old 03-20-2020, 12:39 PM   #42
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Now is a terrible time to buy.
...at the price being asked.

A great time to buy if somebody takes a lowball cash offer.

As the King of Debt said: "...hey guess what, the economy crashed. I’m going to give you back half.”
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Old 03-20-2020, 01:00 PM   #43
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...at the price being asked.

A great time to buy if somebody takes a lowball cash offer.

As the King of Debt said: "...hey guess what, the economy crashed. I’m going to give you back half.”
After a few weeks of no-shows at their open houses, that could work.

My guess is that a lot of sellers don't realize how much their home value is about to drop so they may hold out while it continues to drop further.
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Old 03-22-2020, 04:21 PM   #44
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Its sad to see poeple hoping some body can't make it, so they can snatch up a boat on some guys hard ship....
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Old 03-22-2020, 04:39 PM   #45
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Its sad to see poeple hoping some body can't make it, so they can snatch up a boat on some guys hard ship....


Look at it for a different angle.

Some people are just waiting for the chance to help someone out by taking a burden off of them.


Yeah. It’s the same thing... I hate to see people in a pickle, but don’t see it as a problem when a fella picks up on the deal.

Capitalize?
Take advantage?
Swoop down?

Lots of ways to look at the situation, but I don’t believe that anyone should be chastised or looked down upon because they were able to pick up what another was unable to hold on to.

I suppose there should certainly be a difference between waiting for an opportunity and wishing for another’s misfortune...


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Old 03-22-2020, 04:50 PM   #46
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Its sad to see poeple hoping some body can't make it, so they can snatch up a boat on some guys hard ship....
I don't see anyone in this thread posting they want someone to go belly up so they can take advantage of them. Maybe I missed it? It's simply a fact that when the economy goes south people lose their source of income and the choice for toys bought with debt is to have it repossessed or sell it and save their credit rating. Offering to help someone out of the hole they're in isn't a bad thing.
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Old 03-23-2020, 05:59 AM   #47
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Its sad to see poeple hoping some body can't make it, so they can snatch up a boat on some guys hard ship....

I'm sure the guy needing money and posting toys for sale would want to hear people say I wouldn't buy your stuff as I would be taking advantage of your hardship. However "lowballing" someone in this situation is not fair negotiations in my opinion and only ads to the persons hardship. If its a good deal don't squeeze the deal.
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Old 03-23-2020, 06:14 AM   #48
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I'm sure the guy needing money and posting toys for sale would want to hear people say I wouldn't buy your stuff as I would be taking advantage of your hardship. However "lowballing" someone in this situation is not fair negotiations in my opinion and only ads to the persons hardship. If its a good deal don't squeeze the deal.
Amen. I don't think sticking it to a guy who is already down is "helping him out." It is taking advantage of a person.
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Old 03-23-2020, 06:24 AM   #49
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I never try to tell someone what their stuff is worth. If I don't like the asking price, that's my problem. Lowballing isn't my style, think it shows a lack of character.
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Old 03-22-2020, 05:12 PM   #50
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Quote:
Originally Posted by Reel fortunate View Post
Its sad to see poeple hoping some body can't make it, so they can snatch up a boat on some guys hard ship....


Look at it for a different angle.

Some people are just waiting for the chance to help someone out by taking a burden off of them.


Yeah. It&#226;€&#x2122;&#xfe0f;s the same thing... I hate to see people in a pickle, but don&#226;€&#x2122;&#xfe0f;t see it as a problem when a fella picks up on the deal.

Capitalize?
Take advantage?
Swoop down?

Lots of ways to look at the situation, but I don&#226;€&#x2122;&#xfe0f;t believe that anyone should be chastised or looked down upon because they were able to pick up what another was unable to hold on to.

I suppose there should certainly be a difference between waiting for an opportunity and wishing for another&#226;€&#x2122;&#xfe0f;s misfortune...


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Point well taken .

You could be the buyer they need to take the burden of a bad choice or change of heart that helps put food back on the table and gas in the truck.

I guess I have a soft heart for tough times of some, always thinking that could be me.

Thanks for pointing out the obvious.
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Old 03-23-2020, 06:28 AM   #51
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I don’t lowball, but if they take the price, is it really lowballing?
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Old 03-23-2020, 06:35 AM   #52
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If the ad says, or best offer, this opens the door for negotiations. I would never offer less than what something is worth... to me, just to take advantage of someone.
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Old 03-28-2020, 08:49 AM   #53
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If the ad says, or best offer, this opens the door for negotiations. I would never offer less than what something is worth... to me, just to take advantage of someone.
The question is what is it worth when prices are moving? Some would say it is worth whatever you can either sell or buy it for.
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Old 03-23-2020, 07:52 AM   #54
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In the world of professional negotiations the rule or guide is a good negotiation is where both parties walk away feeling it was fair.

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Old 03-23-2020, 08:04 AM   #55
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In the world of professional negotiations the rule or guide is a good negotiation is where both parties walk away feeling it was fair.

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Once I knew a master dealer who had a slimy rep but when he did a deal with someone that person would walk away knowing he got skinned but somehow he was satisfied with it.

My experience with all the above posters' hopes of getting smoking deals off other people's misfortunes is that most who have to sell toys owe more on them than street value when the mkt goes soft.

Guys who own their toys rarely give them away because they arent debt laden.

In the usa nowadays, owning means you have the keys and not a clear title in your safe.
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Old 03-23-2020, 08:35 AM   #56
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I'll take em' all.
Contact me at ...
Need to start a new fleet.
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Old 03-23-2020, 09:02 AM   #57
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I have been looking for an ocean worthy aluminum boat for quite some time... Currently have a 16ft JetCraft (paid off) and would be happy to trade plus cash for an off shore boat....22ft would be ideal with an outboard...
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Old 03-23-2020, 09:08 AM   #58
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Quote:
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Its sad to see poeple hoping some body can't make it, so they can snatch up a boat on some guys hard ship....

I'm sure the guy needing money and posting toys for sale would want to hear people say I wouldn't buy your stuff as I would be taking advantage of your hardship. However "lowballing" someone in this situation is not fair negotiations in my opinion and only ads to the persons hardship. If its a good deal don't squeeze the deal.
I think at one time or another each one of us have been there. Probably the older we get the more we respect both parties situation .
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Old 03-23-2020, 04:21 PM   #59
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Simple. It's only worth what someone well pay for it. Not a penny more. Not what you owe on it. Not what Nada says it's worth.
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Old 03-23-2020, 06:24 PM   #60
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Default Re: Boat Deals Coming Up

There are definitely still some people out there looking to take advantage of people. I listed my 2016 Alumaweld Columbia for sale, absolutely loaded, its allot of boat and will take a special buyer in my mind. I wanted to sell it because the river fishing for me has really died the last 3 years and the boat just sits in a storage shed getting used maybe 10 days a year. Since springers and winter steel has declined on the lower CR and tribes it just sits so i thought why not try to sell. Boat i think went for around 115k or more in 2016, 185 hours on main motor...loaded ...I asked 70 k, and I would negotiate some. I had a couple of tire kickers but 1 guy called and seemed sincerely interested since he said he was going to order a brand new one until he saw mine. Sent pics, fielded many calls, never really said anything about price but wanted to come see it. Set up a time and he came down, pulled it out of storage, he went over it front to back, I even installed the full top for him then he asked to test run...I said no problem since he seemed extremely excited and serious. Hauled it to ilwaco and ran out in the Cr for about a 1 hour round trip maybe. Was back at the dock and he said ...ok I have done the math and figure you cant owe more than maybe 40k and thats what I am looking to spend and all I have (how were you going to buy a new one)...I thought he was joking and I laughed. I said well thats not going to cut it the boat is worth allot more and I have the tile in my safe. He basically called me a liar saying no way could I have paid this boat off already (I paid cash for it when I bought it) and tried to bully me into selling...That went south really quick and he was told to get off my boat (not nicely at all trust me).. I literally thought I had been set up by a buddy thats how crazy it was.... but there are those guys out there for sure.... I would cash that boat in for scrap before I would sell to a bottom feeding leach like that...
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