Is the Market Really this Bad ?

[Matt Johnson]

The may have a lot of viewers, but it sure isn't marketed well. No year, location or much info. It seems that with the photos they are able to take, they would post more about the boat.

[wolfenzee]

In a world controled by the marketing industry that leads people to believe that they need to have the newest,latest and greatest, something that is older is thought to be inferior solely because it isn't "cutting edge" (even if it actually is superior) add to that the fact that owning a boat is not an investment, then the amount of money someone initially spent on a boat,top it all off with a bad economy and while you are at it through in some sentimental attachment. It is not hard to see why boats are not selling for what the owners feel they are worth, as far as whether or not it is a bad market...that depends on your point of view, it is a "buyers market" and if you are a buyer, don't even think about a new one.

[four winds]

It's a 1982 model.

Currently located in Antigua, where they are refitting their new boat.

Link to sat tracker, http://spotwalla.com/tripViewer.php?...&fillFactor=20

Link to equipment list, https://docs.google.com/document/d/1...hl=en_US&pli=1

[Kettlewell]

It's very simple really. If the boat isn't selling it is priced too high. There is no mystery. Either lower the price and/or do something to make it more attractive like several have suggested, like move the boat to a place like Annapolis or Newport where that type of boat gets a higher price. By the way, don't ever plan on adding your $60K refit to the price of your boat. Honest real estate brokers will tell you the same thing--very few renovations will garner you back your cost except for cleaning and polishing. Take electronics--anything older than a year is probably out of date or broken. Sails are probably worn now. Rigging the same. Engine rebuild has a lot more hours on it. Hull probably needs to be repainted. The exact same problems you'll encounter if you look at a worn, older version of the same model selling for half the price.

[avb3]

Originally Posted by funjohnson

The may have a lot of viewers, but it sure isn't marketed well. No year, location or much info. It seems that with the photos they are able to take, they would post more about the boat.

As fourwinds indicated, there is a LOT of information on the boat.

In fact, that is what lead me to ask the question as OP.

A well regard brand, with known and recent upgrades/refit, priced competitively and not sold. Most things are new or new in the last year or so.

I know that adding $60K of equipment doesn't increase the value, but I would rather buy a boat with that equipment as opposed to one without it... one would think this one has the advantage.

It will be interesting what action it gets at this price.

[wolfenzee]

When my father was selling his Freedom 33 he figured in the devaluation and maintenace of one year and dropped the price accordingly, the boat sold quickly, if he had waited till the next year to drop it to it's "market value" it probably wouldn't have sold.

[Kettlewell]

Exactly, some people refuse to budge on price and instead spend $2K or $3K per year storing the thing until they are forced to sell. The price almost always comes down eventually.

[CHM]

It's an awesome time to buy a boat. I just bought a 1988 Beneteau 430 in good shape for $55k. I have to put another $5k in it to update electronics, but got a great deal.

[avb3]

Originally Posted by Kettlewell

Exactly, some people refuse to budge on price and instead spend $2K or $3K per year storing the thing until they are forced to sell. The price almost always comes down eventually.

We used to have a saying "back in the day" when I worked in a dealership and later on as a dealer consultant, when referring to used car inventory, "It ain't like whiskey, it doesn't get better with age". The moral was, sell it as soon as possible, before the inevitable "lot rot" sets in (stuff that breaks). 9 times out of 10, your first deal was going to be your best deal and there was no sense in holding out for "the big bucks".

[wolfenzee]

Back when I worked for the US importer of a Swedish built boat I observed the buying habits in the boat industry, people would rather go for a larger bare bones boat that they could barely afford than a slightly smaller and much less expensive boat with all the bells and whistles...they may have been under equipped and not been able to sail as much because they were busy paying off such a big loan....but their boat was bigger than the other guys.

[zeta]

Probably would have sold quickly @$19,000 if refit was forgone.

[tropicalescape]

Originally Posted by avb3

We used to have a saying "back in the day" when I worked in a dealership and later on as a dealer consultant, when referring to used car inventory, "It ain't like whiskey, it doesn't get better with age". The moral was, sell it as soon as possible, before the inevitable "lot rot" sets in (stuff that breaks). 9 times out of 10, your first deal was going to be your best deal and there was no sense in holding out for "the big bucks".

Fast nickel or the slow dime and if the latter it ends up being the slow penny this day and time...DVC

[savoir]

He appears to be a shipwright and she is a fashion industry apparatchick, making him the only sailor of the pair. He bought the boat before meeting her and planned a world cruise then she came along and made it a double act. Chances are he paid around 100 for it before starting work. I reckon 79 is a great price. For starters the sails and electronics were new when they left Spain.

If anything, this little episode shows that women can be an expensive luxury.

Their new boat will no doubt suck up a pile of $$$$ as well. It needs plenty of work.

[Lagoon4us]

"When the going gets tough the toy's get going"

[Doodles]

I'd guess location is the biggest negative. He needs to get it up to Annapolis for example or back to Europe where more buyers can get a look at it. From what I've read about the improvements Alex made is seems very well priced now at $79K, but how many buyers are willing to make the trip down to Antigua to give a look? If it were a $300k+ boat, sure you maybe can justify the expense of the trip, but not for a $80K boat, not unless you are fairly sure you are going to buy and even then you've got the problem of finding a good surveyor down there or paying to send one down. And there's the expense of getting it home. IMO of course.