Yachtworld and Greece

[MBLittle]

Seems like 80% of boats listed on YW these days are in Greece (and Croatia). The result of crashing markets, fed up cruisers, scam artists or a combination of all?

Thoughts?

[de0xyrib0se]

Originally Posted by MBLittle

Seems like 80% of boats listed on YW these days are in Greece (and Croatia). The result of crashing markets, fed up cruisers, scam artists or a combination of all?

Thoughts?

Well both places have excess of boats. You won't find any fed-up cruisers I can tell you that much.

In Greece you have a very tense political situation, skyrocketing debt and unemployment, so people are trying to turn assets into liquidity. They have an extremely bureaucratic system, buying boats there is a very slow process that puts off lots of potential buyers. But if waiting a month to take your boat out of Greek waters doesn't bother you, all is well. Then again, spending a month in Greek waters is a blessing in itself.

Croatia is a great charter destination with excellent location opening up to the Adriatic, Ionian, Med and etc. In the past 3-4 years everyone tried to cash in on it that has caused a build-up of inventory and not enough customers. So like any other bubble, it has to burst at some point.

Btw, Turkey has some great offers too.

[MBLittle]

Originally Posted by de0xyrib0se

Well both places have excess of boats. You won't find any fed-up cruisers I can tell you that much. In Greece you have a very tense political situation, skyrocketing debt and unemployment, so people are trying to turn assets into liquidity. They have an extremely bureaucratic system, buying boats there is a very slow process that puts off lots of potential buyers. But if waiting a month to take your boat out of Greek waters doesn't bother you, all is well. Then again, spending a month in Greek waters is a blessing in itself. Croatia is a great charter destination with excellent location opening up to the Adriatic, Ionian, Med and etc. In the past 3-4 years everyone tried to cash in on it that has caused a build-up of inventory and not enough customers. So like any other bubble, it has to burst at some point. Btw, Turkey has some great offers too.

They do seem to be an abundance of ex-charter yachts. Prices aren't really all that competitive either. At least considering Florida and the Caribbean.