What Do You Think Is the Current State of the Sailboat Market ?

[BobSmith]

Hi, new to the forum and have 2 boats and definitely can say it's a buyers market. Banks are willing for short-sales. Trouble is many boats are upside down and owners bought leveraging mortgages, so can't take lower offers without consequences. If you're after a boat the deals are there - aim high...

[VirtualVagabond]

Hi Bob. Welcome to CF.
Sydney and San Diego? One boat in each maybe??

[tropicalescape]

Originally Posted by VirtualVagabond

Hi Bob. Welcome to CF.
Sydney and San Diego? One boat in each maybe??

And a 3rd to get back and forth to the other two..

[Bash]

I just asked a broker friend what he thought of the current market. He replied that small, inexpensive boats are selling like wildfire, but that larger yachts are not.

[dave777]

Originally Posted by BobSmith

Hi, new to the forum and have 2 boats and definitely can say it's a buyers market. Banks are willing for short-sales. Trouble is many boats are upside down and owners bought leveraging mortgages, so can't take lower offers without consequences. If you're after a boat the deals are there - aim high...

Of course there are lots of houses that are done with short sales. This is the first I've heard of boats done with a short sale.

Has anyone else heard of this being done? What banks have allowed it? Is it only the Seller who initiates the short sale?

The alternative is to stop making payments on the boat, but then it gets foreclosed. Boat's are repo'd much quicker than houses, where you can live in them for up to and sometimes over a year before the banks do anything. Plus, banks are sitting on millions of homes in pre-foreclosure.

I'm not sure the boat owner has near as much negotiation room as a house owner.

[Privleoplag]

Originally Posted by Bash

I just asked a broker friend what he thought of the current market. He replied that small, inexpensive boats are selling like wildfire, but that larger yachts are not.

My broker friend says the same.. but did he? That small, inexpensive boats (in the 600K - 1M range) are selling like wildfire, but the big expensive ones are at a stand still, except for a few.

[TomandAnitas34]

I'd love to get into the market with a big boat, but I have to be realistic. There is so much more than just getting the boat. I could get into a $100k boat, but with a net worth on just over $190k, I would be sacrificing the exit strategy. I know that one day, I will choose to get off the boat. Zee is so cool, but I just can't commit to the open ended cruse. After three to ten years, I'm gonna be sick of it. Better I rent my house and use the income to shore up the kitty, than to sell the house, buy the dream boat, and have nowhere to go when I'm too old to do this anymore. I want the Mason, the TaShing, the Hinkley, the whatever, too. I know better than to count on the boat to be a source of wealth when I need to get back on the land. Evey day I see folks who need that cash from their boat to re-establish themselves on land and it just isn't there. If I do walk up the dock and offer those people $58k for their $125k boat, it will be a sad day for us both. I'll be doing it with the full knowledge that soon it will be my turn, I'll be lucky to get $27k. My reward for being such a good shopper, will be to see the despair in their eyes as their hopes die on the broker''s office desk. Not a great picture. I will buy a bigger boat when I can, but I will not be without an awareness of all that is involved. I will pay cash and I will cover my donkey.

[Cheechako]

Originally Posted by TomandAnitas34

I'd love to get into the market with a big boat, but I have to be realistic. There is so much more than just getting the boat. I could get into a $100k boat, but with a net worth on just over $190k, I would be sacrificing the exit strategy. I know that one day, I will choose to get off the boat. Zee is so cool, but I just can't commit to the open ended cruse. After three to ten years, I'm gonna be sick of it. Better I rent my house and use the income to shore up the kitty, than to sell the house, buy the dream boat, and have nowhere to go when I'm too old to do this anymore. I want the Mason, the TaShing, the Hinkley, the whatever, too. I know better than to count on the boat to be a source of wealth when I need to get back on the land. Evey day I see folks who need that cash from their boat to re-establish themselves on land and it just isn't there. If I do walk up the dock and offer those people $58k for their $125k boat, it will be a sad day for us both. I'll be doing it with the full knowledge that soon it will be my turn, I'll be lucky to get $27k. My reward for being such a good shopper, will be to see the despair in their eyes as their hopes die on the broker''s office desk. Not a great picture. I will buy a bigger boat when I can, but I will not be without an awareness of all that is involved. I will pay cash and I will cover my donkey.

i dont know... are you sure you're a cruiser? You're making too much sense!

[zeehag]

what about sailing opb for a while?? this current market sukks bad for selling..now is a buyers market and a great time to buy a sailboat.

[LoveMyWoodie]

The sailboat market is concurrent to the world market.

The sabre rattlers want to start more wars and the kings who run the money markets want to threaten bankruptcy.

Seems like the sailboat market will be much more amiable to people looking for an escape pod to sail off away from here.

If you want to sell your boat you can because there are wise buyers out there.

If you want to get what you think its worth than you may have to keep it.

But -yes-it is a great time to buy!

I'm looking and I don't think I will have to look very far to get one that is sail able for 50 sense on the dollar.

[tropicalescape]

Originally Posted by LoveMyWoodie

The sailboat market is concurrent to the world market.

The sabre rattlers want to start more wars and the kings who run the money markets want to threaten bankruptcy.

Seems like the sailboat market will be much more amiable to people looking for an escape pod to sail off away from here.

If you want to sell your boat you can because there are wise buyers out there.

If you want to get what you think its worth than you may have to keep it.

But -yes-it is a great time to buy!

I'm looking and I don't think I will have to look very far to get one that is sail able for 50 sense on the dollar.

I have a 1974 Pearson 33 for sale ..Cheap,and in real good shape..did I say cheap...DVC

[LoveMyWoodie]

I love Pearson's-how cheap?

I need a Hunter because I'm 6-6 and i need the headroom.

Whats the headroom in your Pearson.

And why is it still for sale?

If its such a nice boat?

[SaltyMonkey]

The market is shocking. Last year at this time things were unusually low and no one seemed to see and end to the down cycle. But checking out prices this fall, they've dropped dramatically - really dramatically over the last 2 months.

Fall is a good time to buy a boat. People don't want to get strapped with winter storage expenses. But this year seems to be a bottom bargain at least on the east coast.

Go shopping if you have the cash.

[zeehag]

have been trying to sell my ericson 35 for 4 years or so now--mighta finally done that-- lol
but for half price of what i wanted and originally listed her for.

[Jd1]

Not all people have gotten the message of the sellers market - I put an offer in at about 50% and the seller didn't bother to counter. We will see what spring brings ....