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10-04-2012, 11:50
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#31
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Registered User
Join Date: Mar 2012
Location: North Carolina
Boat: Seaward 22
Posts: 1,046
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Re: Is there really a buyer's shortage?
I laugh when they say "new electronics (2007)." Really it's 5 year old electronics that would have to be replaced.
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10-04-2012, 12:17
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#32
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Registered User
Join Date: Jun 2010
Location: Gig Harbor, WA
Boat: Prior boats: Transpac 49; DeFever 54
Posts: 2,874
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Re: Is there really a buyer's shortage?
IMHO brokers are their own worst enemies... sure there are a few good ones out there but fortunately, this down market has thinned the herd somewhat. When a seller comes in to list a boat the broker may give him an unrealistic expectation of what to expect it will sell for based on BUC or someother value source that is rigged to keep prices high. The broker doesn't point to the market, he/she points to the book and says that is what to expect. When a prospective buyer comes in they get the same story... look at the BUC value (rigged) and then extolls the virtues of that particular vessel compared to an unseen hypothetical boat. As a result, both buyer and seller are steered to questionable data upon which to make a decision. Hence the rather poor reputation boat brokers generally enjoy. There are some good, honest ones out there but do as much research on the broker as you do on the boat.
The last two boats I bought were through brokers who I had known personally for many years through my delivery business but I sold both boats privately without a broker involved.
One of the best ways to find a good broker is by asking around several boat owners in marinas. Don't ask the marina operators because finder fees for clients regularly change hands in my experience.
There are not the same checks and balances on boat brokers as there are on real estate brokers and they have equally as many problems IMO... Capt Phil
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10-04-2012, 12:36
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#33
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Registered User
Join Date: Aug 2006
Location: Skagit City, WA
Posts: 25,745
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Re: Is there really a buyer's shortage?
I dont know.... I have seen some fantastic opportunities out there in large or small boats, but as mentioned.... in any economy there are a lot of needy boats bargain priced. Finding the real bargain is the challenge. I would imagine boats loans are harder to get just like mortgage loans for the last few years, and as Zee said.... a lot of people lost their retirement investments (or maybe 40% of it) and or work....
__________________
"I spent most of my money on Booze, Broads and Boats. The rest I wasted" - Elmore Leonard
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10-04-2012, 12:44
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#34
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Registered User
Join Date: Aug 2009
Location: between the devil and the deep blue sea
Boat: a sailing boat
Posts: 20,958
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Re: Is there really a buyer's shortage?
Quote:
Originally Posted by ohdrinkboy
I laugh when they say "new electronics (2007)." Really it's 5 year old electronics that would have to be replaced.
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I am not getting this part. Why should 5 year old electronics be replaced?
b.
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10-04-2012, 13:04
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#35
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Senior Cruiser
Join Date: Oct 2007
Location: 29° 49.16’ N 82° 25.82’ W
Boat: Pearson 422
Posts: 16,306
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Re: Is there really a buyer's shortage?
Quote:
Originally Posted by barnakiel
I am not getting this part. Why should 5 year old electronics be replaced?
b.
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Same question. If they still work and get the job done why buy something new and expensive just because it's shinier or has a couple of new bells and whistles that you may never use? Good marine electronics can work reliably for many years. I'm just fine with my 20 year old Raymarine radar. Maybe not the range, definition or low power of a new one but I can still find a channel marker in a major rain storm and freighters show up just fine.
__________________
The water is always bluer on the other side of the ocean.
Sometimes it's necessary to state the obvious for the benefit of the oblivious.
Rust is the poor man's Loctite.
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10-04-2012, 13:10
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#36
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Registered User
Join Date: Aug 2010
Location: Naples, FL
Boat: Leopard Catamaran
Posts: 2,582
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Re: Is there really a buyer's shortage?
I would say buyers market.
I have been trying to sell my Mainship for over 2 years, I have priced it less than the last one that sold 2 years ago, and dropped the price $10,000, still no buyers.
I would like to buy a sailboat, but can't until this one sells. Boats just aren't moving around here, (maybe the drilling ban?).
Yes baby boomers are retiring,...but most have seen 401k's drop to 201k's. And forget a home equity loan.
SO maybe next year?
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10-04-2012, 13:28
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#37
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Registered User
Join Date: Mar 2012
Location: North Carolina
Boat: Seaward 22
Posts: 1,046
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Re: Is there really a buyer's shortage?
Quote:
Originally Posted by barnakiel
I am not getting this part. Why should 5 year old electronics be replaced?
b.
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Something 5 years old is not new. Electronics can last 20 years, but tell that to several of mine that have given up at about 5 years.....and yes they were marine instruments.
I view any electronic over 5 years old as a potential failure and will likely need replaced within the next 5 years as routine.
Your mileage may vary, but electronics in the marine environment get rough treatment.
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10-04-2012, 13:36
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#38
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Registered User
Join Date: Nov 2006
Location: Back in Northern California working on the Ranch
Boat: Pearson 365 Sloop and 9' Fatty Knees.
Posts: 10,481
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Re: Is there really a buyer's shortage?
I'm not going for the electronics forecast.Sure if the boat has one of the old flasher type sounders, it should be replaced. But if it's a common electronics manufacturer and works, why replace it? What you should really look at is the engine,the sail inventory (quantity and condition) as well as rigging. those are the big ticket items to replace.
My experience with buyers are those who really want to buy a vessel and those who live in the perpetual dream of cruising.
__________________
"Life is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming: Wow - what a ride!"
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10-04-2012, 14:01
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#39
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CLOD
Join Date: Jul 2007
Location: being planted in Jacksonville Fl
Boat: none
Posts: 20,770
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Re: Is there really a buyer's shortage?
The word "new" in a boat ad just means the boat didn't originally come with "it". Just like the phase "rebuilt engine" in an ad means maybe the oil got changed in fairly recent past!
__________________
Don't ask a bunch of unknown forum people if it is OK to do something on YOUR boat. It is your boat, do what you want!
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10-04-2012, 16:12
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#40
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Registered User
Join Date: Oct 2008
Location: St-Lazare, Qc. Canada
Boat: Whitby 42 - Esmeralda II
Posts: 160
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Re: Is there really a buyer's shortage?
Quote:
Originally Posted by ohdrinkboy
I laugh when they say "new electronics (2007)." Really it's 5 year old electronics that would have to be replaced.
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Huh, some of my electronics are over 10 years old and still working well
__________________
Roland on Esmeralda II - Whitby 42
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10-04-2012, 16:18
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#41
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Registered User
Join Date: Oct 2008
Location: St-Lazare, Qc. Canada
Boat: Whitby 42 - Esmeralda II
Posts: 160
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Re: Is there really a buyer's shortage?
Quote:
Originally Posted by Don Lucas
The word "new" in a boat ad just means the boat didn't originally come with "it". Just like the phase "rebuilt engine" in an ad means maybe the oil got changed in fairly recent past!
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If you had an engine rebuilt, you also have an invoice from a reputable company showing that they have done an in-depth rebuild with many 5 digits $ on the bottom. That is more than an oil change. I have both engine and tranny rebuilt and keep the invoices preciously for the day I will resale.
__________________
Roland on Esmeralda II - Whitby 42
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10-04-2012, 16:56
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#42
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Registered User
Join Date: Mar 2011
Location: Washington DC
Boat: Buying Jun 2012
Posts: 54
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Re: Is there really a buyer's shortage?
Quote:
Originally Posted by rolandgilbert99
If you had an engine rebuilt, you also have an invoice from a reputable company showing that they have done an in-depth rebuild with many 5 digits $ on the bottom. That is more than an oil change. I have both engine and tranny rebuilt and keep the invoices preciously for the day I will resale.
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Seeing this kind of attention to detail and paperwork is what turns your boat over before the "like-priced" one next to yours on Yachtworld. Good thinking
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10-04-2012, 17:11
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#43
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cruiser
Join Date: Dec 2011
Location: Key West FL - Burlington VT
Boat: O'day 32 CC Ketch
Posts: 493
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Re: Is there really a buyer's shortage?
Thats going all out. Many just change the valve cover gasket, one injector, alt. belt, and put 2 new clamps on the stufing box. Then at every call/meeting they repeat the words rebuilt and overhaul as many times as possible till it sticks. It's always the cheap or free boats that get this high tech service. Then you hear a proud new owner boasting joyfully as he continually repeats rebuilt ovehaul as one word. Minutes later he asks for your help to change a waterpump impeller because it won't start.
I'm a mechanic and have seen the rebuilt overhaul used to describe it all.
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10-04-2012, 17:38
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#44
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Registered User
Join Date: Mar 2007
Posts: 207
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Re: Is there really a buyer's shortage?
I'm also a marine mechanic in my past life, and the word "rebuilt" just scares the hell out of me!!! A boat I'm looking at right now states it has a "Rebuilt Gererator" and it is in for repairs as I write this.
The cost of replacing it with a new one will have to come out of the asking price.
__________________
David
69Morgan30'
CarolAnn
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10-04-2012, 18:01
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#45
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Registered User
Join Date: Jul 2008
Location: Live Iowa - Sail mostly Bahamas
Boat: Beneteau 32.5
Posts: 2,307
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Re: Is there really a buyer's shortage?
I'm trying to sell an 97 Hunter I purchased just 3 years ago. I think I'll be lucky to get 2/3 of what I paid for it, despite fixing many expensive problems.
In addition to people just having less disposable income as Zeehag mentioned, I think the huge increases in dockage and insurance have made many people shy away from some of the under 30K boats. These days one can easily spend if 5 years what the boat cost, just for dockage, insurance and minimal maintenance.
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