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Old 29-01-2015, 16:06   #16
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Re: $ vs. Euro for purchase of French Cats

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Originally Posted by jbinbi View Post
Also, having never purchased a cat before but have purchased monos, will lagoon or fp dealers negotiate on price, or is the price the price? The guys I speak to don't have inventory, so it is build to order. It is not the same as with monos, where they do showroom some stuff, and have dealer options.

That depends. Would you prefer pick it up from ten factory or have it delivered somewhere..
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Old 29-01-2015, 18:50   #17
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Re: $ vs. Euro for purchase of French Cats

I tried to deal with catana direct - got redirected to the Australian and UK dealers. Wasnt "allowed" to deal with the french direct even though I was in france at the time. The problem with that is many of these dealers charges remain in $'s not euros.

Interested in FP lagoon etc experience on this?

Have also used ozforex but got the best rate with my own aussie bank Westpac (10bps off wholesale and a direct contact on their dealing desk) I set a limit order with the dealer (ie set your price and let natural volatility get it for you in time) I would suggest explaining to your local bank this isnt going to be retail amount of $ and see what they offer.
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Old 07-02-2015, 01:43   #18
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Re: $ vs. Euro for purchase of French Cats

We began the purchase of a new Outremer 5X last September, launch date is currently June 15. The purchase was brokered by our local dealer, but then handed off to the factory. All the detailed discussions on design, options and payments (in Euros) have been directly with Outremer in France. I accelerated the progress payments as the Euro dropped with 95% of the total price now paid at 1.13 USD/Euro. I compared the Ozforex rates with JPMorgan Chase and Ozforex was 0.02 less.
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Old 07-02-2015, 10:09   #19
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Re: $ vs. Euro for purchase of French Cats

Poozer, sounds like you did exactly what I'm thinking of doing. No problems sending a large amount of $$'s via OzForex? I read their web site, they say they wave the fees is the amount is large enough, is that true?

Forex forecasters think the EUR/US can move toward 1:1 later in the year. I'm not waiting for that day but something under 1.10. I'm just trying to get my ducks in a row right now before I pull the trigger.
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Old 07-02-2015, 14:55   #20
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Re: $ vs. Euro for purchase of French Cats

Yes, I have found Ozforex to be excellent. I have moved USD from my accounts in the USA to Australia and from USA to France (for the 5X). All transfers have gone through with no problems at all. Their process is very easy and they keep you notified of progress every step, which is nice. They didn't charge any fees on any of my transfers.
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Old 18-02-2015, 20:54   #21
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Re: $ vs. Euro for purchase of French Cats

Bought a new French boat being built and delivered shortly. My dealer said the manufacturer hedged euro so I didn't need to worry much about strengthening euro. Implies I also wouldn't see the benefit. Given so much of the boat is not really European I doubt there is a direct correlation. However, it will be very interesting to watch.


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Old 18-02-2015, 21:59   #22
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Re: $ vs. Euro for purchase of French Cats

That assumes the Euro goes up. If it continues to fall you won't get the savings. I saved 20% of the purchase price on our boat by pre-paying when the Euro fell.


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Old 19-02-2015, 09:04   #23
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Re: $ vs. Euro for purchase of French Cats

You're absolutely right. I'm excited to here you saved 20%. Some are forecasting dollar/euro parity within the year. If the prices stay euro fixed there will be huge savings. For me the problem was that I was buying a boat and not speculating in currency. I lost whatever savings the stronger dollar provided, but I locked the price in the currency I earn money and have savings in. I needed to place the order about 5 months before the majority of the payment. I just was unwilling to take the risk that the euro would strengthen. Congratulations on your new boat. I'm only a bit jealous about your lower price!
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Old 19-02-2015, 16:55   #24
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Re: $ vs. Euro for purchase of French Cats

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You're absolutely right. I'm excited to here you saved 20%. Some are forecasting dollar/euro parity within the year. If the prices stay euro fixed there will be huge savings. For me the problem was that I was buying a boat and not speculating in currency. I lost whatever savings the stronger dollar provided, but I locked the price in the currency I earn money and have savings in. I needed to place the order about 5 months before the majority of the payment. I just was unwilling to take the risk that the euro would strengthen. Congratulations on your new boat. I'm only a bit jealous about your lower price!
I think you definitely made the right call. I would have done the same thing if I was offered the option to buy at a fixed price USD. I could only buy in Euros, and just got lucky on the timing of the exchange rate movements.
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Old 01-03-2015, 15:31   #25
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Re: $ vs. Euro for purchase of French Cats

Depending on your "home" currency the exchange rate is a huge deal. In my case, I earn US dollars and I'm buying a boat manufactured in Euros. The boat manufacturer might hedge their currency risk, but that is for their benefit not mine. If the manufacture keeps their boat prices constant in Euro's any strengthening of the US dollar will be a direct savings for US dollar based buyers. There's absolutely no benefit or penalty to Euro buyers. For all the European boat manufacturers labor and material costs are in Euros, so as long as they charge the appropriate amount of Euros, they don't care about the dollar, they actually welcome it because their product is more affordable for US dollar buyers. For me personally, the strengthening of the US dollar allowed me to buy a new boat instead of a used one.
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Old 01-03-2015, 22:24   #26
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Re: $ vs. Euro for purchase of French Cats

How about used boat? But used boat in Europe now will it be cheaper?


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Old 01-03-2015, 23:26   #27
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Re: $ vs. Euro for purchase of French Cats

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How about used boat? But used boat in Europe now will it be cheaper?


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I've discussed this with a seasoned broker and he agreed with me that the drop in the value of the Euro will impact the sales price of used boats in the USA. Used boats for sale in Greece or Spain are still priced at the same Euro price but in relation to the dollar they are now more than 20% less. The biggest sellers of boats are the charter company's and at the moment they are still trying to hold their pre Euro devaluation prices but I am aware that real sales prices for used french boats have dropped dramatically. So if you see a US or carabean boat being advertised I would be asking for at least 20% to 30% off their ask price and that's before you start negotiations after the survey. IMHO
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Old 02-03-2015, 08:48   #28
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Re: $ vs. Euro for purchase of French Cats

Ditto what 'Going Walkabout' just said.

Simple finance, you'll begin hearing travel companies promoting European holidays this summer because the euro is cheap relative to the dollar, so your dollar will buy a lot more over there. That same principle works when buying a European boat.
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Old 02-03-2015, 13:51   #29
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Re: $ vs. Euro for purchase of French Cats

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So if you see a US or Caribbean boat being advertised I would be asking for at least 20% to 30% off their ask price and that's before you start negotiations after the survey. IMHO
This is an important observation. Since the new boats have devalued by 20% in USD terms, the sellers of used European boats (regardless of location) will have to discount. Otherwise you could wind up paying more for a used Lagoon in the USA than a new one in France, which of course makes no sense. And, if the European boats have to discount, the non-European boats will also have to discount to stay price competitive.

There are two winners in this scenario, buyers that earn in US dollars and the European builders, who will see additional demand with no change in internal costs. The losers are the non-European builders who have to cut margins to compete.
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Old 02-03-2015, 14:08   #30
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Re: $ vs. Euro for purchase of French Cats

Hi Pooser you are right suppose this a prefect world as my finance professor always said need to under this assumption but than it always is not.


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