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Old 28-08-2014, 13:49   #1
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Is The Used Cat Market Getting Cheaper?

I've been browsing cats online for a few years now and solely based on my memory, it would seem that nicer used cats are now becoming cheaper than when I began my searching. I assume this is due to an increased number of cats on the market due to the aging fleet. I'm guessing cat sales (no pun intended) really started taking off in the early 90's and those older cats are the ones flooding the market. Am I right?

Tom
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Old 28-08-2014, 21:15   #2
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Re: Is The Used Cat Market Getting Cheaper?

I do think the prices are going down, but it's on same year cats, so the age is getting to them. It's hard to ask for 60% of the value on a 15 year old cat compared to a 5 year old one.

Now, it think there are some really high prices on new builds also. Their, IMO, built cheaper and cost more. But they have a good sex appeal and make Admirals happy.
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Old 28-08-2014, 21:33   #3
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Re: Is The Used Cat Market Getting Cheaper?

Well and the used charter cats are just starting to really flood the market. Its been about 12 years since they really started to get popular above 38 feet. IMO you will start to see the market start to adjust downwards; just go into any moorings/sunsail brokerage and take a look at all the exact same monohulls just sitting waiting to be sold. It won't be long before you start seeing the same thing with cats.
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Old 28-08-2014, 22:26   #4
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Re: Is The Used Cat Market Getting Cheaper?

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Well and the used charter cats are just starting to really flood the market. Its been about 12 years since they really started to get popular above 38 feet. IMO you will start to see the market start to adjust downwards; just go into any moorings/sunsail brokerage and take a look at all the exact same monohulls just sitting waiting to be sold. It won't be long before you start seeing the same thing with cats.
Its already happening. They have Lagoon 410's that have been for sale for years in oyster pond.
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Old 28-08-2014, 22:39   #5
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Re: Is The Used Cat Market Getting Cheaper?

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Well and the used charter cats are just starting to really flood the market. Its been about 12 years since they really started to get popular above 38 feet. IMO you will start to see the market start to adjust downwards; just go into any moorings/sunsail brokerage and take a look at all the exact same monohulls just sitting waiting to be sold. It won't be long before you start seeing the same thing with cats.
Yup - I'm depending on it...

A 5-year old 40 footer in the $200k range would be nice.

Imagine what happens to the 15-20 year olds...
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Old 29-08-2014, 07:15   #6
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Re: Is The Used Cat Market Getting Cheaper?

I am glad to hear this, I am a few years from getting the house paid off and finally being able to get a cat. When I first started my search I was a bit downtrodden by the high cost of a decent cat. With prices falling as they seem to be I can now see a reasonably priced cat in my future. Another advantage I have is that charter cats appeal to me and my large family. Most see the extra bunks as wasted space, I see it as rooms for each of the kids.

Tom
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Old 29-08-2014, 14:08   #7
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Is The Used Cat Market Getting Cheaper?

Seems true, and an of outcome supply/demand.

I personally am watching with interest how time bends the used price arc of leopard 39 & lagoon 39 models. The lagoon 39 just hit the market In 2013(?), but the leapord 39 model has been out since 2010(?).

Another cat favorite for me is Mahe evolution. Ii think those maintain semi stable prices given production start since 2011 ( present evo model) but there is less of a charter fleet so production numbers are depressed compared to other production cats for charter. The spoiler I anticipate is when FP replaces the Mahe with another model. Like what happened to the lavezzi.
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Old 29-08-2014, 23:38   #8
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Re: Is The Used Cat Market Getting Cheaper?

G'day Tom
I have been following the sailboat market very closely for about 8 years now. With the global financial crisis, prices of luxury items have dropped at least one third and the older model boats much, much more! Europe is now cheaper than the US. Just a few years ago it was the other way around, there are some real bargains out there, you just need to watch and have the money ready for the deposit. The catamaran market is a little stronger, but once again if you find someone who wants to sell, you can sometimes get up to 20-30% off the asking price if you have cash and are ready to deal.
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Old 30-08-2014, 16:12   #9
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Re: Is The Used Cat Market Getting Cheaper?

The issue for us is not that we could not afford a used cat... It's that we could not afford a used owners version cat. That's a big difference. If we are getting a cat we don't need four berths. It would be nice to have an owners berth, a guest berth, and a shop/office area.

You are not going to see a downward adjustment on owners versions.


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Old 30-08-2014, 16:48   #10
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Re: Is The Used Cat Market Getting Cheaper?

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Yup - I'm depending on it...

A 5-year old 40 footer in the $200k range would be nice.

Imagine what happens to the 15-20 year olds...
I wouldnt count on them dropping that much, look at a 30 or 40 year old monohull, they are selling for more than they did new. Cats will depreciate but even a beaten rough 20 year old Gemini is bringing in 50 to 60% or more of what they cost new. I wouldnt count on any cat that cost 4-500k new to sell for much less than 40-50% unless its really rough and needing a 30-50k refit.

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Old 30-08-2014, 17:35   #11
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Re: Is The Used Cat Market Getting Cheaper?

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Originally Posted by Tscott8201 View Post
I am glad to hear this, I am a few years from getting the house paid off and finally being able to get a cat. When I first started my search I was a bit downtrodden by the high cost of a decent cat. With prices falling as they seem to be I can now see a reasonably priced cat in my future. Another advantage I have is that charter cats appeal to me and my large family. Most see the extra bunks as wasted space, I see it as rooms for each of the kids.

Tom
I'm in exactly the same boat. My goal was to pay off the house in 5 yrs and sell it to buy a used cat. I don't have kids, but the extra cabins can be stocked with food for longer voyages, or used for guest rooms when in the Caribbean.

I don't mind buying a 10-15 yr old cat, as long as it's still in good shape. It does look like prices have dropped slightly over the last year, and hopefully more so in the next 4 or 5 yrs.
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Old 30-08-2014, 18:12   #12
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Re: Is The Used Cat Market Getting Cheaper?

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I wouldnt count on them dropping that much, look at a 30 or 40 year old monohull, they are selling for more than they did new.
I think this is an important point when planning on a long term purchase be it a cat or mono.

Quality retains value.

A well built/designed 30 year larger custom yacht that has been Professionally built and well maintained /upgraded thru the years.... will always attract a buyer that appreciates what has now become a classic in that particular design genre.
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Old 30-08-2014, 18:38   #13
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Re: Is The Used Cat Market Getting Cheaper?

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I wouldnt count on them dropping that much, look at a 30 or 40 year old monohull, they are selling for more than they did new. Cats will depreciate but even a beaten rough 20 year old Gemini is bringing in 50 to 60% or more of what they cost new. I wouldnt count on any cat that cost 4-500k new to sell for much less than 40-50% unless its really rough and needing a 30-50k refit.

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I would guess that most the 20 year old cats are selling for more than what they did when new. The Gemini May be an exception.
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Old 30-08-2014, 18:46   #14
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Re: Is The Used Cat Market Getting Cheaper?

Quote:
Originally Posted by Dulcesuenos View Post
I wouldnt count on them dropping that much, look at a 30 or 40 year old monohull, they are selling for more than they did new. Cats will depreciate but even a beaten rough 20 year old Gemini is bringing in 50 to 60% or more of what they cost new. I wouldnt count on any cat that cost 4-500k new to sell for much less than 40-50% unless its really rough and needing a 30-50k refit.

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I'll remain optimistic - LOL...

Here is a quick and dirty. No deep analysis here but 3 Lagoon 380s at around $230. The newest is a 2007.

Boats For Sale

Yes one won't get an owners version with all the bells and whistles any time soon. The Leopards are in charter now at sunsail in Asia. I met the dealer. His recommendation was to get on their mailing list for used cats (when I get serious) and he predicts many of the first tranche will sell word of mouth via mailing lists.

The second tranche, selling in 202X may be even better...

Well at least that's my plan and I'm sticking to it for now -
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Old 30-08-2014, 18:46   #15
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Re: Is The Used Cat Market Getting Cheaper?

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I would guess that most the 20 year old cats are selling for more than what they did when new. The Gemini May be an exception.
So, are you a new owner (again). I was at West Marine a couple of weeks ago. They said you and your wife were in Florida looking.

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