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Old 10-04-2012, 11:50   #31
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Re: Is there really a buyer's shortage?

I laugh when they say "new electronics (2007)." Really it's 5 year old electronics that would have to be replaced.
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Old 10-04-2012, 12:17   #32
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Re: Is there really a buyer's shortage?

IMHO brokers are their own worst enemies... sure there are a few good ones out there but fortunately, this down market has thinned the herd somewhat. When a seller comes in to list a boat the broker may give him an unrealistic expectation of what to expect it will sell for based on BUC or someother value source that is rigged to keep prices high. The broker doesn't point to the market, he/she points to the book and says that is what to expect. When a prospective buyer comes in they get the same story... look at the BUC value (rigged) and then extolls the virtues of that particular vessel compared to an unseen hypothetical boat. As a result, both buyer and seller are steered to questionable data upon which to make a decision. Hence the rather poor reputation boat brokers generally enjoy. There are some good, honest ones out there but do as much research on the broker as you do on the boat.
The last two boats I bought were through brokers who I had known personally for many years through my delivery business but I sold both boats privately without a broker involved.
One of the best ways to find a good broker is by asking around several boat owners in marinas. Don't ask the marina operators because finder fees for clients regularly change hands in my experience.
There are not the same checks and balances on boat brokers as there are on real estate brokers and they have equally as many problems IMO... Capt Phil
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Old 10-04-2012, 12:36   #33
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Re: Is there really a buyer's shortage?

I dont know.... I have seen some fantastic opportunities out there in large or small boats, but as mentioned.... in any economy there are a lot of needy boats bargain priced. Finding the real bargain is the challenge. I would imagine boats loans are harder to get just like mortgage loans for the last few years, and as Zee said.... a lot of people lost their retirement investments (or maybe 40% of it) and or work....
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Old 10-04-2012, 12:44   #34
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Re: Is there really a buyer's shortage?

Quote:
Originally Posted by ohdrinkboy View Post
I laugh when they say "new electronics (2007)." Really it's 5 year old electronics that would have to be replaced.
I am not getting this part. Why should 5 year old electronics be replaced?

b.
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Old 10-04-2012, 13:04   #35
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Re: Is there really a buyer's shortage?

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Originally Posted by barnakiel View Post
I am not getting this part. Why should 5 year old electronics be replaced?

b.
Same question. If they still work and get the job done why buy something new and expensive just because it's shinier or has a couple of new bells and whistles that you may never use? Good marine electronics can work reliably for many years. I'm just fine with my 20 year old Raymarine radar. Maybe not the range, definition or low power of a new one but I can still find a channel marker in a major rain storm and freighters show up just fine.
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Old 10-04-2012, 13:10   #36
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Re: Is there really a buyer's shortage?

I would say buyers market.

I have been trying to sell my Mainship for over 2 years, I have priced it less than the last one that sold 2 years ago, and dropped the price $10,000, still no buyers.

I would like to buy a sailboat, but can't until this one sells. Boats just aren't moving around here, (maybe the drilling ban?).

Yes baby boomers are retiring,...but most have seen 401k's drop to 201k's. And forget a home equity loan.

SO maybe next year?
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Old 10-04-2012, 13:28   #37
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Re: Is there really a buyer's shortage?

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Originally Posted by barnakiel View Post
I am not getting this part. Why should 5 year old electronics be replaced?

b.
Something 5 years old is not new. Electronics can last 20 years, but tell that to several of mine that have given up at about 5 years.....and yes they were marine instruments.

I view any electronic over 5 years old as a potential failure and will likely need replaced within the next 5 years as routine.

Your mileage may vary, but electronics in the marine environment get rough treatment.
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Old 10-04-2012, 13:36   #38
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Re: Is there really a buyer's shortage?

I'm not going for the electronics forecast.Sure if the boat has one of the old flasher type sounders, it should be replaced. But if it's a common electronics manufacturer and works, why replace it? What you should really look at is the engine,the sail inventory (quantity and condition) as well as rigging. those are the big ticket items to replace.
My experience with buyers are those who really want to buy a vessel and those who live in the perpetual dream of cruising.
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Old 10-04-2012, 14:01   #39
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Re: Is there really a buyer's shortage?

The word "new" in a boat ad just means the boat didn't originally come with "it". Just like the phase "rebuilt engine" in an ad means maybe the oil got changed in fairly recent past!
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Old 10-04-2012, 16:12   #40
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Re: Is there really a buyer's shortage?

Quote:
Originally Posted by ohdrinkboy View Post
I laugh when they say "new electronics (2007)." Really it's 5 year old electronics that would have to be replaced.
Huh, some of my electronics are over 10 years old and still working well
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Old 10-04-2012, 16:18   #41
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Re: Is there really a buyer's shortage?

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The word "new" in a boat ad just means the boat didn't originally come with "it". Just like the phase "rebuilt engine" in an ad means maybe the oil got changed in fairly recent past!
If you had an engine rebuilt, you also have an invoice from a reputable company showing that they have done an in-depth rebuild with many 5 digits $ on the bottom. That is more than an oil change. I have both engine and tranny rebuilt and keep the invoices preciously for the day I will resale.
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Old 10-04-2012, 16:56   #42
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Re: Is there really a buyer's shortage?

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If you had an engine rebuilt, you also have an invoice from a reputable company showing that they have done an in-depth rebuild with many 5 digits $ on the bottom. That is more than an oil change. I have both engine and tranny rebuilt and keep the invoices preciously for the day I will resale.
Seeing this kind of attention to detail and paperwork is what turns your boat over before the "like-priced" one next to yours on Yachtworld. Good thinking
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Old 10-04-2012, 17:11   #43
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Re: Is there really a buyer's shortage?

Thats going all out. Many just change the valve cover gasket, one injector, alt. belt, and put 2 new clamps on the stufing box. Then at every call/meeting they repeat the words rebuilt and overhaul as many times as possible till it sticks. It's always the cheap or free boats that get this high tech service. Then you hear a proud new owner boasting joyfully as he continually repeats rebuilt ovehaul as one word. Minutes later he asks for your help to change a waterpump impeller because it won't start.

I'm a mechanic and have seen the rebuilt overhaul used to describe it all.
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Old 10-04-2012, 17:38   #44
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Re: Is there really a buyer's shortage?

I'm also a marine mechanic in my past life, and the word "rebuilt" just scares the hell out of me!!! A boat I'm looking at right now states it has a "Rebuilt Gererator" and it is in for repairs as I write this.

The cost of replacing it with a new one will have to come out of the asking price.
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Old 10-04-2012, 18:01   #45
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Re: Is there really a buyer's shortage?

I'm trying to sell an 97 Hunter I purchased just 3 years ago. I think I'll be lucky to get 2/3 of what I paid for it, despite fixing many expensive problems.

In addition to people just having less disposable income as Zeehag mentioned, I think the huge increases in dockage and insurance have made many people shy away from some of the under 30K boats. These days one can easily spend if 5 years what the boat cost, just for dockage, insurance and minimal maintenance.
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