Is the Market Really this Bad ?

[David_Old_Jersey]

Originally Posted by boatman61

'Banana's'......

You want buy Banana Mister?

I give you good price . Special price - only you....me like Pakistan man . Pakistan man no.1 . Velly handsome man .

No hair good have power............ .

[Notpopeye]

Originally Posted by Curmudgeon

I don't know which dollar you re talking about but the U.S. Dollar has in fact maintained an average inflation rate of around 3% recently and that rate is in fact dropping. When the economy is bad, there is actually deflation of the currency, not inflation, as was the case in mid 2009 in the depths of the recession.

United States Inflation Rate

The U.S. is 14 trillion in debt, 15 trillion by the end of the year. Do you honestly believe the dollar will hold it's value?
Do you ever look at gold or silver prices? Perhaps you do not realize that the tremendous increase in the value of those two metals is due to the devaluation of the U.S. dollar.
Nonetheless, let us not get into a discussion of politics or economies, the OP merely inquired into the reasoning behind a drop in used boat prices.

[boatman61]

Originally Posted by David_Old_Jersey

You want buy Banana Mister?

I give you good price . Special price - only you....me like Pakistan man . Pakistan man no.1 . Velly handsome man .

No hair good have power............ .

ROFLMAO.....
Leave my hair out of it...
I do....

[speedoo]

Originally Posted by sailingfool

Thanks for the link! I recently signed up for the mailing list, as the KP's are at the top of my list! Plus it's an order of magnitude closer to my budget

You are very welcome. It's a great boat, don't know this particular one, but it does look well cared for with a recent repower. Go take a look, and let me know if you get serious, as an owner I can tell you about things to check carefully.

[Celestialsailor]

Originally Posted by Notpopeye

The U.S. is 14 trillion in debt, 15 trillion by the end of the year. Do you honestly believe the dollar will hold it's value?
Do you ever look at gold or silver prices? Perhaps you do not realize that the tremendous increase in the value of those two metals is due to the devaluation of the U.S. dollar.
Nonetheless, let us not get into a discussion of politics or economies, the OP merely inquired into the reasoning behind a drop in used boat prices.

...uhmmm...not sure about that if you look at the gold chart the last 6 months and our dollar to the Euro. Not to mention other factors I'm hearing on the news wire.

[Rhapsody-NS27]

I just called a broker about a boat that's listed at almost $18k He said it was in need of a little bit of work and said someone else looked at it a week ago and put in a 50% offer and the owner turned it down. I've read stories here on CF that are similar. Some owners do not seem to have realistic ideas of their boats worth.

[tartansail]

Originally Posted by Dan_78

I just called a broker about a boat that's listed at almost $18k He said it was in need of a little bit of work and said someone else looked at it a week ago and put in a 50% offer and the owner turned it down. I've read stories here on CF that are similar. Some owners do not seem to have realistic ideas of their boats worth.

It's hard to tell who's being unrealistic from the info you gave. If a boat is priced right for the model, the market and the condition, a seller would be foolish to sell it for 50% of that. On the other hand, there are boats that are priced as if they were without flaws when the owner or a survey shows that significant work is required. At that point the owner is the one being unrealistic.

My last boat was initially listed at $X dollars. I had an offer at about 75% of X, but a couple of significant issues showed up at the survey and the potential buyer walked. I dropped the price to 66% of the original and told my broker to let prospective buyers see the survey information so that they would understand the pricing. The lower price generated a lot of interest. The survey weeded out those who were put off with the idea that a 35 yo boat might need a little work. I ended up getting an offer in less than a month for 90% of the price and the deal was done.

The market value of the boat is not just what a buyer offers. It is also what a seller accepts. IMNHO, it's better for the seller to be up front about the flaws and price the boat accordingly. If that is done, it doesn't make sense to accept a lowball offer just because it's a lousy market.

[Celestialsailor]

Also too...consider that no matter what you pay for a boat, many more thousands will go in over the years that you will never get back. So...not to buy a boat because you can't get it for 1/2 price which is only $9,000 is a dead issue as far as I am concerned.

[Notpopeye]

the problem with a 25-30 year old fiberglas boat is that it either has soft spots/core rot/delamination or it will very soon have soft spots/core rot/delamination. If the new owner can and will do the repairs himself, the cost is not extenisive in terms of money, but if the new owner has to hire the services of a boatyard, the cost could be tens of thousands of dollars.
In my opinion, this prohibits many old boats from being great deals, regardless of the low price.

[Rhapsody-NS27]

Well, the broker even sounded like the boat was overpriced and mentioned wanting to talk to the owner about lowering the asking price.

Of course, much would go into the boat over the years. Although I'm mostly looking for a boat that can be sailed right away and get the experience on the water, I am almost considering getting something that needs some work. I guess it depends on the boat I find. Lots to look at in the meantime.

[speedoo]

Originally Posted by Notpopeye

the problem with a 25-30 year old fiberglas boat is that it either has soft spots/core rot/delamination or it will very soon have soft spots/core rot/delamination. If the new owner can and will do the repairs himself, the cost is not extenisive in terms of money, but if the new owner has to hire the services of a boatyard, the cost could be tens of thousands of dollars.
In my opinion, this prohibits many old boats from being great deals, regardless of the low price.

I think it would be far more correct to say that SOME 25-30 year old fiberglass boats will have such problems. Decks are usually more susceptible than hulls especially if care has not been taken to properly seal hardware attachment points. In any case a good survey or even an inspection by a potential owner will reveal such problems.

My guess is that most boats that old will be largely free of such problems as long as they have not been abused or neglected.

[Mike OReilly]

Originally Posted by speedoo

I think it would be far more correct to say that SOME 25-30 year old fiberglass boats will have such problems. Decks are usually more susceptible than hulls especially if care has not been taken to properly seal hardware attachment points. In any case a good survey or even an inspection by a potential owner will reveal such problems.

My guess is that most boats that old will be largely free of such problems as long as they have not been abused or neglected.

Thanks Speedoo, I have a 40-year-old fiberglass boat that does not have core rot or any hull problems, based on a 2009 survey. It's also righty price at $18,000

[zeta]

Dan 78,
Getting a boat that requires some work is not a bad thing. If you can find one from a charity and have an area to work on her, the work itself will be educational. Working on boats is not rocket science as has been noted. Minimum hr. employees at a yard do most of the work and may or may not be competent to do such. Fiberglass work can be nasty work, but taking your time you will gain experience and have a since of pride for your labors. Getting to know your boat from the inside out will also instill confidence that you and your boat can tackle most any situation that arises.

[Rhapsody-NS27]

Originally Posted by zeta

employees at a yard do most of the work and may or may not be competent to do such.

I think I would fall into the "not be competent" category when it comes to repairs (of course I am starting out).

If I were to do any major work, I would definately take my time and try to make sure it as done right. I have books and could search CF if needed.

5 weeks to go and I fly back to US then I can go on a road trip to search for my boat.

[speedoo]

Originally Posted by Dan_78

I think I would fall into the "not be competent" category when it comes to repairs (of course I am starting out).

If I were to do any major work, I would definately take my time and try to make sure it as done right. I have books and could search CF if needed.

5 weeks to go and I fly back to US then I can go on a road trip to search for my boat.

If you don't already have this book, I can't recommend it strongly enough:

http://www.amazon.com/Caseys-Complet.../dp/0071462848

It's the best single volume all purpose sailboat maintenance reference I have ever seen. It includes a very good guide for inspecting a boat under consideration for purchase, that can help you find problems before committing to an expensive survey. Invaluable if you are looking for a boat.

Really great value at $36 shipped. I may get myself a second copy.