Friday, January 29, 2010
Boat Trader's Pets On The Water Contest Continues. Make Sure to Send in Your Photos Today!
We have received a huge response to our Pets on the Water contest. So many great photos have been sent in. You can see our latest entries on Flickr or in the slideshow above. Thank you for all the great submissions! Keep them coming! Judging starts on February 12, so don't delay.
Wednesday, January 27, 2010
Boat Inventories From Bankrupt Dealerships Continue to Grow
National Liqidators’ Matthew Amata says there’s a disconnect between the number of boats repossessed from failed dealerships and those showing up in his yard and those of other boat remarketers.
Repossessions in the fourth quarter at National Liquidators, one of the nation’s largest outlets for auctioning repossessed boats, were up just 9 percent over what they were for the same period in 2008, says Amata. Yet inventories from bankrupt dealerships continue to grow.
Amata says a lot of the boats that floorplan lenders repossess from distressed dealerships wind up at other dealerships, where they sit in the back of the showroom while dealers push their own inventories out the door because they are holding floorplan loans on these boats.
Inventories of boats from distressed dealerships are “increasing significantly,” Amata says. “And I suspect there will be increased levels of wholesale repossessions through 2010.”
Amata believes the best way to stabilize the boat market is to move repossessed inventory now instead of letting it sit in dealer showrooms. He says dealers are not geared up to sell repo boats. “It is our core business,” he says. “Give us a boat and, on average, we sell it in 64 days. That’s a tremendous statistic.”
Amata says National Liquidators has been selling boats at about the same rate as it has been taking in inventory, while operating at just 75 percent of capacity. He believes the remarketing industry has the capacity to move more boats from failed dealerships in 2010 without dramatic disruptions to the marketplace.
In addition to boats from failed dealerships, he says he and other remarketers have been seeing more repossessions of privately owned boats, especially big ones over $500,000. “That business is exploding,” he says. “Just this week alone [in mid-January], we had inquiries on a half-dozen [big boats].”
With repossessions still on the increase, used-boat prices could “dip slightly” again as the slow winter sales season goes forward, says Lenny Sims, a vice president at used-boat price guide NADAguides.com.
The large number of repossessed boats on the market has had a depressing effect on used-boat prices, though not nearly as much as one might expect. In 1995, National Liquidators was selling most of its repo boats at 98 to 102 percent of “book” price, Amata says. “Now we’re selling at 90 to 92 percent of NADA.”
Amata says lenders actually have “held the line pretty well” on the pricing of repossessed boats, but there is a glut of some brands in the repo market — Sea Ray, for one. “We’re not getting close to book on those,” Amata says.
Hinckleys and Tiaras have been doing a lot better and selling closer to book value because there are a lot fewer of them in remarketers’ inventories.
NADA’s Sims says his price guides, updated monthly online, reflect the results of surveys of used- and new-boat sales from some 285 retail dealers and remarketers.
Repossessions in the fourth quarter at National Liquidators, one of the nation’s largest outlets for auctioning repossessed boats, were up just 9 percent over what they were for the same period in 2008, says Amata. Yet inventories from bankrupt dealerships continue to grow.
Amata says a lot of the boats that floorplan lenders repossess from distressed dealerships wind up at other dealerships, where they sit in the back of the showroom while dealers push their own inventories out the door because they are holding floorplan loans on these boats.
Inventories of boats from distressed dealerships are “increasing significantly,” Amata says. “And I suspect there will be increased levels of wholesale repossessions through 2010.”
Amata believes the best way to stabilize the boat market is to move repossessed inventory now instead of letting it sit in dealer showrooms. He says dealers are not geared up to sell repo boats. “It is our core business,” he says. “Give us a boat and, on average, we sell it in 64 days. That’s a tremendous statistic.”
Amata says National Liquidators has been selling boats at about the same rate as it has been taking in inventory, while operating at just 75 percent of capacity. He believes the remarketing industry has the capacity to move more boats from failed dealerships in 2010 without dramatic disruptions to the marketplace.
In addition to boats from failed dealerships, he says he and other remarketers have been seeing more repossessions of privately owned boats, especially big ones over $500,000. “That business is exploding,” he says. “Just this week alone [in mid-January], we had inquiries on a half-dozen [big boats].”
With repossessions still on the increase, used-boat prices could “dip slightly” again as the slow winter sales season goes forward, says Lenny Sims, a vice president at used-boat price guide NADAguides.com.
The large number of repossessed boats on the market has had a depressing effect on used-boat prices, though not nearly as much as one might expect. In 1995, National Liquidators was selling most of its repo boats at 98 to 102 percent of “book” price, Amata says. “Now we’re selling at 90 to 92 percent of NADA.”
Amata says lenders actually have “held the line pretty well” on the pricing of repossessed boats, but there is a glut of some brands in the repo market — Sea Ray, for one. “We’re not getting close to book on those,” Amata says.
Hinckleys and Tiaras have been doing a lot better and selling closer to book value because there are a lot fewer of them in remarketers’ inventories.
NADA’s Sims says his price guides, updated monthly online, reflect the results of surveys of used- and new-boat sales from some 285 retail dealers and remarketers.
Tuesday, January 26, 2010
Annual Outboard Engine Service - Do It Or Don’t?
A Florida Sport Fishing Staff Report
It’s no surprise that outboard engine maintenance is a hot topic. Who wants to be stranded offshore or deep in the backcountry with a mechanical issue that could have easily been avoided with only a bit of preventative maintenance? With just a little TLC and responsible practices you can keep your outboard engine(s) running reliably and smoothly for many years to come.
If you’ve recently purchased a new outboard motor—for approximately the same price you could have purchased a new car—it’s in your best interest to make it last. Although pricey, the benefit of new-age outboard engines is that they offer technologically advanced designs and feature cutting-edge engineering, ensuring they will perform as expected for the term of your vessel ownership—if not longer. However, one downside to modern engineering is that the latest electronically controlled systems are quite complex and if you neglect them in any way, you may be in for an unpleasant surprise.
With the latest and greatest outboard engines, manufacturers have employed a wide variety of technologies and design features in an effort to improve performance and reliability, while simultaneously increasing fuel economy and lowering emissions. You can count on one thing—whether it’s an electronic fuel injected four-stroke, carbureted four-stroke, single-point fuel injected two-stroke, low pressure direct injection or high pressure direct injection two-stroke, modern outboard motors are not designed for owner maintenance. If you’re not a certified, factory trained technician, it is in your best interest to leave the tough task of performing annual service to someone with years of experience.
To get the inside scoop as to what’s involved in annual outboard servicing, we contacted Mike Lund of Outboard Specialties (www.fixboat.com) in Pompano Beach. Lund tells us for many boaters around the country winterizing is a hot topic, but for those who ply their craft in the temperate, sub-tropical climate of Florida, it’s clear that the boating and fishing season never ends. With that being said, it’s still best to perform your annual maintenance during the winter season. This is due to the fact that boatyards and mechanics won’t be as busy and any issues that arise during your annual service can be handled promptly.
While many boaters follow the “When it breaks, I’ll fix it” mentality, this is not a good idea and will surely reduce the reliability and efficiency of your outboard(s). According to Lund, approximately 50-percent of damaged motors that come through his shop are a result of lack of maintenance. Talk to distinguished mechanics around the state and they will likely sing you the same song. Regardless of the hours accumulated, annual service should never be neglected. Many boaters think that an annual service and 100-hour service are interchangeable terms, but this is far from the truth. Contact your manufacturer or local mechanic and see what service plan is best for you.
While you may think of yourself as handy and slightly educated in outboards, that’s fine and dandy, but professional technicians will be able to locate and troubleshoot certain components and aspects that could lead to trouble down the road if not taken care of immediately. If you’re confident in your abilities, changing your own oil will certainly cut costs when it comes to annual service, however, replacing an impeller or checking a thermostat is a different story altogether. Lets say for example your thermostat is stuck half-open. This will cause your engine to idle a bit cooler, but that’s pretty much the only warning signal you’ll receive. You will have no idea that your engine is running richer, effectively diminishing your outboard’s overall efficiency. Another component you may visually inspect and come to the conclusion that everything is okay is your sacrificial zinc anode. While a seasoned zinc and a brand new zinc may look the same, the used zinc will weigh significantly less and lack the integrity to perform effectively.
When it comes to outboard maintenance with today’s technologically advanced motors one thing is for certain; seasons of neglect will lead to major expenses. The bottom line is that you should have your outboard(s) serviced annually by a certified technician. Don’t find yourself saying, “If I only would have…”
Annual Service Checklist
It’s no surprise that outboard engine maintenance is a hot topic. Who wants to be stranded offshore or deep in the backcountry with a mechanical issue that could have easily been avoided with only a bit of preventative maintenance? With just a little TLC and responsible practices you can keep your outboard engine(s) running reliably and smoothly for many years to come.
If you’ve recently purchased a new outboard motor—for approximately the same price you could have purchased a new car—it’s in your best interest to make it last. Although pricey, the benefit of new-age outboard engines is that they offer technologically advanced designs and feature cutting-edge engineering, ensuring they will perform as expected for the term of your vessel ownership—if not longer. However, one downside to modern engineering is that the latest electronically controlled systems are quite complex and if you neglect them in any way, you may be in for an unpleasant surprise.
With the latest and greatest outboard engines, manufacturers have employed a wide variety of technologies and design features in an effort to improve performance and reliability, while simultaneously increasing fuel economy and lowering emissions. You can count on one thing—whether it’s an electronic fuel injected four-stroke, carbureted four-stroke, single-point fuel injected two-stroke, low pressure direct injection or high pressure direct injection two-stroke, modern outboard motors are not designed for owner maintenance. If you’re not a certified, factory trained technician, it is in your best interest to leave the tough task of performing annual service to someone with years of experience.
To get the inside scoop as to what’s involved in annual outboard servicing, we contacted Mike Lund of Outboard Specialties (www.fixboat.com) in Pompano Beach. Lund tells us for many boaters around the country winterizing is a hot topic, but for those who ply their craft in the temperate, sub-tropical climate of Florida, it’s clear that the boating and fishing season never ends. With that being said, it’s still best to perform your annual maintenance during the winter season. This is due to the fact that boatyards and mechanics won’t be as busy and any issues that arise during your annual service can be handled promptly.
While many boaters follow the “When it breaks, I’ll fix it” mentality, this is not a good idea and will surely reduce the reliability and efficiency of your outboard(s). According to Lund, approximately 50-percent of damaged motors that come through his shop are a result of lack of maintenance. Talk to distinguished mechanics around the state and they will likely sing you the same song. Regardless of the hours accumulated, annual service should never be neglected. Many boaters think that an annual service and 100-hour service are interchangeable terms, but this is far from the truth. Contact your manufacturer or local mechanic and see what service plan is best for you.
While you may think of yourself as handy and slightly educated in outboards, that’s fine and dandy, but professional technicians will be able to locate and troubleshoot certain components and aspects that could lead to trouble down the road if not taken care of immediately. If you’re confident in your abilities, changing your own oil will certainly cut costs when it comes to annual service, however, replacing an impeller or checking a thermostat is a different story altogether. Lets say for example your thermostat is stuck half-open. This will cause your engine to idle a bit cooler, but that’s pretty much the only warning signal you’ll receive. You will have no idea that your engine is running richer, effectively diminishing your outboard’s overall efficiency. Another component you may visually inspect and come to the conclusion that everything is okay is your sacrificial zinc anode. While a seasoned zinc and a brand new zinc may look the same, the used zinc will weigh significantly less and lack the integrity to perform effectively.
When it comes to outboard maintenance with today’s technologically advanced motors one thing is for certain; seasons of neglect will lead to major expenses. The bottom line is that you should have your outboard(s) serviced annually by a certified technician. Don’t find yourself saying, “If I only would have…”
Annual Service Checklist
- Perform Compression Test
- Replace Spark Plug(s)
- Inspect Thermostat
- Replace Fuel Filters
- Replace Engine Oil Filter
- Replace Lower Unit Oil & Inspect For Water in Lower Unit
- Pressure Test Lower Unit
- Install New Water Pump
- Remove Prop & Inspect Seal
- Replace Zincs
- Grease Fittings, Prop Shaft, Drive Shaft, Trim Steering
- Inspect Popit Valves
- Protect w/ CRC Corrosion Block
- Perform Vital Systems Check
- Inspect Steering Components
Tuesday, January 12, 2010
Our Pets On The Water Slideshow
Here is a slideshow of all the photos we have received so far for the Pets On the Water contest. Click on the photo above to start the show. Make sure you submit your entry soon!
Learn more about our Pets on the Water contest.
Monday, January 11, 2010
The First Submissions to the Boat Trader Pets On The Water Contest
Echo the dog with goggles.
Dorito the dog at sea.
Not so much on the Water… “W” is our friendly Marina Cat. Here he is on one of our Inventory PURSUIT in the showroom.
We have two dogs, a 12 year old Labrador named Yampa after the county of Steamboat Springs Colorado and a 2 year old Springer Spaniel named Kiwi after we stayed in New Zealand with a family that had Springer Spaniel's and knew we needed to get one of our own. Here is Yampa behind our house in West Palm Beach where my family and I ski every weekend.
Here is Kiwi in Jupiter Florida on an afternoon cruise
Ty the dog.
You can see more pets on the water on the Boat Trader Flickr account
Submit Your Photos To Boat Trader's "Pets On The Water" Contest. You Could Win a Flip Camcorder
Do you have photos or even video of you and your pets enjoying the boating lifestyle? If so, send them to us for the Boat Trader "Pets on the Water" photo and video contest.
Three Finalists will be selected and then it's up to you to vote for the best "Pet on the Water!" The winner will receive a Flip Camcorder courtesy of Boat Trader.
How it works:
- Submit your photos or videos by emailing to us at boatblog@traderonline.com. Be sure to put "Pets On The Water" in your email subject line.
- Judges select three Finalists.
- Boat Trader users (that's you!) vote for their favorite between February 12-28.
- Winners will be announced on March 3, 2010 Keep up with the latest news about the contest, as well as new entries on Facebook!
Become a FaceBook Fan of Boat Trader.
Wednesday, January 06, 2010
Boat Trader to Attend 2010 Miami International Boat Show
Boat Trader will be attending the 2010 Miami International Boat Show & Strictly Sail Miami on February 11-15, 2010. Look for Boat Trader at Booth 065.
According to the show's organizers, the five-day event draws tens of thousands of visitors each year and hosts more than 2,000 exhibitors from around the world, filling the Miami Beach Convention Center and Sea Isle Marina & Yachting Center with thousands of boats and hundreds of booths showcasing the latest gear and accessories.
Here are other upcoming boat shows:
24th Nashville Boat & Sportshow
January 6-10, 2009 | Nashville Convention Center | Nashville, TN
www.nashvilleboatshow.com
40th New Orleans Boat & Sportshow
January 6-10, 2009 | New Orleans Morial Convention Center | New Orleans, LA
www.neworleansboatshow.com
56th Kansas City Boat & Sportshow
January 7-10, 2009 | H. Roe Bartle Hall | Kansas City, MO
www.kansascitysportshow.com
80th Chicago Boat, RV & Outdoors Show
January 13-17, 2009 | McCormick Place - North | Chicago, IL
www.chicagoboatshow.com
According to the show's organizers, the five-day event draws tens of thousands of visitors each year and hosts more than 2,000 exhibitors from around the world, filling the Miami Beach Convention Center and Sea Isle Marina & Yachting Center with thousands of boats and hundreds of booths showcasing the latest gear and accessories.
Here are other upcoming boat shows:
24th Nashville Boat & Sportshow
January 6-10, 2009 | Nashville Convention Center | Nashville, TN
www.nashvilleboatshow.com
40th New Orleans Boat & Sportshow
January 6-10, 2009 | New Orleans Morial Convention Center | New Orleans, LA
www.neworleansboatshow.com
56th Kansas City Boat & Sportshow
January 7-10, 2009 | H. Roe Bartle Hall | Kansas City, MO
www.kansascitysportshow.com
80th Chicago Boat, RV & Outdoors Show
January 13-17, 2009 | McCormick Place - North | Chicago, IL
www.chicagoboatshow.com
Tuesday, January 05, 2010
What Were Your Best Boating Memories of 2009?
Now that 2010 is here, we would like to know what your best memories were of 2009.
Did you decorate your boat for Christmas? Did you attend a boating party on the water? Aquapalooza? Poker runs? July 4th on the water?
We want to hear about it! Leave a comment below.
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