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Old 22-03-2015, 19:47   #1
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Selling a cat in CA vs. FL

I'm headed for Panama next week from the USVI. Our intent has always been to transit the canal, sail across the Pacific and sell our Leopard 45' in Fiji to an Aussie or Kiwi. Over the last 6 months the AUD$ has depreciated 25% vs the USD$ and my kids have voiced concerns about making the trip. While I've prepped the boat for the trip across the South Pacific, I'm now considering other options once we wrap up hurricane season in Panama. This could be a lengthy thread if I ask what should I do, so I want to limit it to the finanacial aspect, i.e. selling the boat.. do I 1) continue as planned 2) sail back to FL to sell or, 3) transit the canal and sail up to CA to sell there? I hadn't considered the third option until recently when a fellow cruiser said that was what he was doing because the market was strong in southern CA due to the lack of inventory.
What say you?
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Old 22-03-2015, 19:49   #2
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Re: Selling a cat in CA vs. FL

Oh yeah- US duty has already been paid on the boat. It spent most of its life in Annapolis, MD.
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Old 22-03-2015, 20:37   #3
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Re: Selling a cat in CA vs. FL

I have followed the boat market for about 18 months and CATs on the west coast always have a higher asking price. That doesn't mean they sell for more, but they definately have a higher asking price. It also seems the farther up the west coast, the more you can ask.

Hell, sail a CAT up to washington and the asking price seems to be about 20-25% higher than Florida.

Now... Let me give you some advise as if we were sitting in bar bullsh!ttin...
You don't buy a boat as a financial investment. You buy a boat as a life investment. If you need to cut your dream short cause you may make some extra money selling in a different locaiton, then you made a very POOR investment. Sail that sucker to Austrailia and soak up every minute!
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Old 23-03-2015, 08:01   #4
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Re: Selling a cat in CA vs. FL

Interesting question with a lot of possibilities which include not going to panama, sailing to the US for hurricane season, hauling out in the Caribbean or spending hurricane season in Grenada or abc's. I wonder how the cost of new cats has been effected in Australia. Given that they are bought in euros there may not be a huge increase, which would in turn increase the used market prices. Also given that the usd has gained against the euro, now new boats are less expensive for Americans which will effect the used market in turn. It's possible you might be 50k better off to sell in usd while the used market is still buoyant.
Sorry, no answers, just more questions
I think panama will put you in a corner that may be difficult to sail out of though unless you head to the pacific so I'd be looking at all the options first. It depends a lot on how much you want to see the pacific and how long you have before you need to return to Aus.
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Old 23-03-2015, 08:12   #5
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Re: Selling a cat in CA vs. FL

Just make sure you have your game plan figured out before you get to Panama. That is a challenging place to sell a boat which means a low price. It can be a good place to sail a boat however.
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Old 25-03-2015, 20:51   #6
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Re: Selling a cat in CA vs. FL

Thanks for the insights, guys 'n gals. Regarding the specifics of our trip, we had always intended it as a 2-3 year adventure with our kids before we had to get them back to the states for junior/high school. We did Grenada this past hurricane season. Had a great time, but already done that. We're definitely headed to Panama because it's about the trip and the experiences. We're also planning land travel around Central and South America, once there. We don't want to sacrifice our travels based on selling the boat, but want to be better informed about the CA option in the event we decide not to go the South Pacific route.
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Old 27-03-2015, 07:03   #7
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Re: Selling a cat in CA vs. FL

Quote:
Originally Posted by Four Coconuts View Post
Thanks for the insights, guys 'n gals. Regarding the specifics of our trip, we had always intended it as a 2-3 year adventure with our kids before we had to get them back to the states for junior/high school. We did Grenada this past hurricane season. Had a great time, but already done that. We're definitely headed to Panama because it's about the trip and the experiences. We're also planning land travel around Central and South America, once there. We don't want to sacrifice our travels based on selling the boat, but want to be better informed about the CA option in the event we decide not to go the South Pacific route.
Hi. I'll be happy to joined your trip' and buy the boat at the end
E-mail me evenzur.daniel@gmail.com
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