Ridiculous Seawind 1160 Prices

[Strikhedonia]

Okay, I get the whole free market thing and all, but seriously is part of owning a Seawind that you must be delusional? Before I get into it – yes it is an awesome boat, yes there are people who would like to buy these boats, yes you are free to list your boat for whatever price you would like. Now on to the reality check:
1. Boats are a depreciating asset – they are like a car, the older they are and the longer you own them the less they are worth
2. 2006-2007 Seawinds were sold NEW for about $400k, with outfitting for cruising an owner is probably into it $475k-$500k
3. 40 foot FPs from the same time are listed for about $240K, 40 foot Lagoons are about $270k

Can someone please explain to me why Seawinds are listed for around $400k? If they were selling I could chalk it up to, “Hey charge whatever you can.” But in the last six months of watching the listings it is clear that these boats are not selling. So anyone have any good insights to why Seawind owners stick to a ridiculous price for their boats?

[cat man do]

Are the seawinds in Australia and the FP's etc in the states?
Look to the economies of these two areas for the answer.
Muppets in Australia have been happy to pay 100% more for damn near everything for so long, but things are changing.

[neilpride]

A Hummer here in St marteen cost around 29000$ , same car in Argentina is listed at 90000u$ , you talk about AUS prices v USA or???

[rossad]

What it is mnfish, a club thing. There is this group of people that all know and watch the club of Seawinds owners closely as they themselves are part of the club and owner of a Seawind. Basically it creates a belief that my boat must be worth this much cause my club members boat is worth it too. These cat's are good though, and many people know it.

[ausaviator]

Good observations.

They are expensive to buy and always have been.
Owners seem to expect get back what they paid for them regardless of age.
They are an ok vessel but do have plenty of pitfalls and are not perfect for everyone.

I must admit if I paid too much for a boat like that or a house perhaps, I'd be keen to get it back even if it had to sit in the market for a year!

[44'cruisingcat]

Any second-hand item is worth what someone is willing to pay for it. If these boats are overpriced they won't sell, and eventually the prices will come down. Provided the owners really want to sell them.

[Strikhedonia]

The boats I was quoting are listed in the US, Caribbean, and Europe but maybe the Aussie mindset is instilled in the Seawind Owners. I still find it shocking that, other than one per year, these boats don't sell and yet the prices (while lower now than a year ago) remain so much higher than comparable. Time will tell but I am hopefully to be able to afford one in a year or two assuming the pricing comes more in line the overall cat market.

[smj]

I've owned 8 cats and only one was a depreciating asset. If you buy the right cat and maintain it well chances are you will either break even or make a little profit. As far as Seawinds go, great boats and they definetly hold their value.

[Nessus]

I would assume that most of these cats were mortgaged. Since you pay your interest upfront there's not a lot of equity in these vessels. The owners may be in a position where they can't or or not willing to come out of pocket to make the sale.

If I'm paying $500-$600K for a cat is damn sure going to be an Outremer. Something that actually sails.

[Strikhedonia]

SMJ, you have seriously done very well. I hope I can have similar results but I have a hard time believing that your experience is typical. Anyone else have a similar success story? I'd also point out that the Seawind 1160's aren't selling, my belief is that the owners have the financial means to hold on to them for a long time with the hope of the market turning and supporting their asking price. Time will tell.

[Strikhedonia]

Nessus, excellent point. I hadn't thought of underwater mortgage issues. Heck, I'd guess the bank would really not want to deal with repossessing a cat in a foreign location as it must add a whole other layer of legal issues and costs.

[LostAtSea2011]

Here's one for you...reduced.


http://www.easybreeze.com/

[ausaviator]

And that is the reduced price????

[Therapy]

And the virtual tour is from Seawind site.

I do like that boat though.


Not sure it is worth twice a crappy Leopard, FP, or Lagoon though.

[ausaviator]

It is interesting how its marketed as 1160 and most others are 38, 40, 42 etc, it sort of puts them in a class of their own until you realize that it's only 38ft.

Even the asking prices for second hand 1000 models are often more than Lagoon 38's.