Rib market prices

TerMc1 · 29 May 2022, 09:08

Hi Everyone, I'm looking buy a rib circa 2nd hand 6m, 115hp double consel from the likes of humber, redbay, ribcraft etc but was wondering given economic outlook it would be wise to hold off till next year.

I know it's a bit crystal ball gazing but is there a feeling that the prices will come back a little from the COVID peak of the 2 last years? Cheers

fastasfox · 29 May 2022, 14:11

Have you ever purchased house? Has the price ever gone down....no, and that my friend is pretty much the answer..when they put our balls in a vice they don't back off. The only positive is that when boat makers get back on track (and lots it seems are made in the Ukraine) there will be more choices and you will no longer have to pay top dollar for the absolute basket cases...but I can't see dealer prices come back down. Good luck.

Lemonbonbon · 29 May 2022, 17:35

Quote:

Originally Posted by fastasfox

Have you ever purchased house? Has the price ever gone down....no, and that my friend is pretty much the answer..when they put our balls in a vice they don't back off. The only positive is that when boat makers get back on track (and lots it seems are made in the Ukraine) there will be more choices and you will no longer have to pay top dollar for the absolute basket cases...but I can't see dealer prices come back down. Good luck.

Not sure you can compare boats to Houses. Very different items

fastasfox · 29 May 2022, 18:30

Quote:

Originally Posted by Lemonbonbon

Not sure you can compare boats to Houses. Very different items

It's a perfect comparison. During boom they go up....and stay up. What do you think boat manufacturers are going to tell their staff that have all had pay rises...sorry lad's we're going to have to take that back....errr no. Diesel is around £1.80/2.00 per litre...it was at £1.22 do you suppose it will go back to £1.22.....nope.
I have been round the block a few times and have seen it happen over and over again.

TerMc1 · 29 May 2022, 19:33

Thanks lads, so do we think prices are set to stay as is even for 2nd hand market? Cheers

Lemonbonbon · 29 May 2022, 19:51

Quote:

Originally Posted by TerMc1

Thanks lads, so do we think prices are set to stay as is even for 2nd hand market? Cheers

No I think they are dropping already. Look on Facebook Market place

TmMorris · 29 May 2022, 20:24

It's an expensive hobby. Plenty of owners will start to curtail usage over the next season or two as they seek to curb their outgoings during the inflationary squeeze. Plenty will opt to focus on mortgage payments which will be going up as people slowly come off existing fixes.

It seems likely that over the next 24 months demand could pull back while supply increases and we will get softening in prices.

The cost of building them won't get cheaper but you'd expect used values to pull back plus builder will have the margins squeezed by competition as they have to fight for fewer buyers.

Sutty · 29 May 2022, 20:45

Quote:

Originally Posted by fastasfox

It's a perfect comparison. During boom they go up....and stay up. What do you think boat manufacturers are going to tell their staff that have all had pay rises...sorry lad's we're going to have to take that back....errr no. Diesel is around £1.80/2.00 per litre...it was at £1.22 do you suppose it will go back to £1.22.....nope.
I have been round the block a few times and have seen it happen over and over again.

Supply and demand controls prices, fuel will come down, luxury toys will come down as the staycation boom comes down. As for house prices and values they also have been know to come down, remember the crash of 2007/8

fastasfox · 29 May 2022, 21:04

Quote:

Originally Posted by TerMc1

Thanks lads, so do we think prices are set to stay as is even for 2nd hand market? Cheers

If the purchase is something you have thought about in depth then I would say crack on and get yourself sorted for summer....life is too short to worry about trivial matters such as money lol. I have watched the market for years now and ribs have always been pricey it's an expensive hobby and the only thing that has changed in the used market is that people have taken the opportunity to get rid of their rubbish.
What's your budget btw?

fastasfox · 29 May 2022, 21:12

Quote:

Originally Posted by Sutty

Supply and demand controls prices, fuel will come down, luxury toys will come down as the staycation boom comes down. As for house prices and values they also have been know to come down, remember the crash of 2007/8

I do remember the last recession I also remember the recession in the 90's I also remember the slump in the 70's and the last recession doesn't even come close to the latter. House prices in some counties may of dipped but in london the market grew...go figure. Look at house prices now.

gpsguru · 29 May 2022, 22:31

Quote:

Originally Posted by TerMc1

Hi Everyone, I'm looking buy a rib circa 2nd hand 6m, 115hp double consel from the likes of humber, redbay, ribcraft etc but was wondering given economic outlook it would be wise to hold off till next year.

I know it's a bit crystal ball gazing but is there a feeling that the prices will come back a little from the COVID peak of the 2 last years? Cheers

Yep, boat prices are already dropping like a stone. Increased price of fuel and potentially less discretionary income, due to inflation and rising energy prices, will potentially see more boats to market.

Miss Guided · 30 May 2022, 05:34

Buy after the summer. The entire market will be awash, so to speak, with nearly new, second hand boats.

You'll get a top quality bargain!

MGx

TerMc1 · 30 May 2022, 06:39

Thanks Fastasfox and everyone

I had sold my old rib before COVID and was slow making a purchase before prices went mad

My budget is 20k and so I think I will hold off till autoimm and see what value there is then

Thanks all

Lemonbonbon · 30 May 2022, 10:23

Quote:

Originally Posted by TerMc1

Thanks Fastasfox and everyone

I had sold my old rib before COVID and was slow making a purchase before prices went mad

My budget is 20k and so I think I will hold off till autoimm and see what value there is then

Thanks all

In the meantime buy a sib to play with over the Summer. A new Honwave T38 IE3 is only about £1,350. Of course you also have to get an engine etc

TerMc1 · 30 May 2022, 15:16

A great idea thanks

treerat · 30 May 2022, 16:12

Quote:

Originally Posted by Lemonbonbon

No I think they are dropping already. Look on Facebook Market place

Agreed - some great ribs appearing on Boat Jumble, some in you neck of the world too at more like sensible 2nd hand prices.

spartacus · 30 May 2022, 21:04

I love these sort of discussions, it’s a bit like having a greyhound in a race and finding out what other people are doing.

As mentioned, RIBs are expensive, always have been and likely always will be. It’s about compromise. If you have the cash, then go for it, the market is only going one way just now.

Get a feel for the market. In my opinion 115hp seems underpowered for a 6m. Also, if you’re looking at Ribeye and Ribcraft, then that will skew prices somewhat. Ribeye A600s for example even from 2010 are still commanding upwards of £27k with a Yamaha 100hp.

Quick scan on Apollo Duck and FAFB should give you a gauge for what’s out there.

If you can narrow your search that helps too, as you san spot a donkey at a 100 yards, and let’s face it you don’t won’t to be travelling around the country to view every so call bargain just because it has double console seating.

Anyway, my tuppence worth.