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Old 14-09-2017, 00:29   #76
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Re: Irma and the local boat market

What puzzles me is, there will be a lot black sheep out there that will try to sell this hurricane damaged boats overpriced on the marked after some cosmetics as "well maintained" with no issues - especially the un-insured ones where you cannot check the boat history.
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Old 14-09-2017, 03:36   #77
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Irma and the local boat market

Regarding the points made about the charter boat market, note that before the storm this industry was fairly balanced in terms of the number of new owners vs. charter companies' needs to replace older boats phasing out. Now the companies will have a largely increased need to replace their fleets. Some of this increased need will be met by previous owners with insurance checks but many of these owners will not get back in the business and thus there will be a gap. So although from the boat manufacturer perspective there will be an increased demand for new boats, charter companies will likely have an unmet need for new owners and may be forced to reduce their brokerage commissions to incentivize those on the fence. In sum, my prediction for new boats is that the market will be very tight for those buying non charter boats but there will be some attractive offers (in the form or reduced selling brokerage commissions) at the shows from the charter companies in need to replace their fleets.
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Old 14-09-2017, 09:45   #78
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Re: Irma and the local boat market

Our Florida broker just got in touch and sounds excited. Wants to lower the price a bit and get agressive. Even undamaged $30K cruising boats are gonna be in demand.
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Old 14-09-2017, 22:50   #79
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Re: Irma and the local boat market

Quote:
Originally Posted by StuM View Post
No worries and no use.

If it is always slipped, why own a boat?
Well ever heard of Noah's arche?
He's probably a prepper, waiting for the promised global warming flood, I guess.
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Old 15-09-2017, 01:24   #80
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Re: Irma and the local boat market

I looked closely at drone footage of Nanny Cay...Unbelievable amount of very nice boats damaged. Really nice ones, $500K and more (before Irma). Both catamarans and monohulls. Many did not sink, but were dismasted/hull damaged by debris/other boats, ripped off bimini etc. Including ones on hard. Most likely there's at least some water in them, so damage amount increases every day. Not sure if all of these boats were insured (including these on hard). Not all of them might be total loss.
But I think some of them will be fixed by their owners and will be for sale at "slightly reduced" price. Not in near future though, right now there does not seem to be any possibility to work on them.
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