The Market Has Turned

[Dragon Lady]

Gee, just when I thought the USD couldn't go any lower and manufacturers wouldn't drop their prices any lower.
It all happened this week.
You're right Sandy the market has turned.
But it's alright, Alan Greenspan says don't worry about it.

[dave777]

Originally Posted by sww914

You know, I doubt that the boat market has turned up.

If a dealership has all it's boat repo'd by one of the banks, does that count as a sale for the industry stats? Technically, it wouldn't be a traditional reposession - they don't have to steal it. But I thought I'd read something about the floor plan financiers changing hands a few times. What are they counting as sales? Are they counting bank owned sales from national liquidators? Were they counting sales to Europe before the Sterling and Euro started their own crashes?

Yeah, I'm thinking like the other posters who think that boat stats and real estate stats seem to ignore the same obvious truth that you can see looking around your own neighborhood.

Why are the same boats still for sale?

What I'd really like to see is some yachtworld stats of time on the market before sale. And why won't they show us how long a current listing has been on the market? There are some other threads about that.

[zeehag]

would be nice to see the selling prices of boats instead of the asking prices.

[jkleins]

I actually put five boats in my bookmarks over the past year and four have been sold. They were all in the 40-50 foot trawler category although one was a sailboat. Not all were common brand names with most of them being custom designs or builds. All were listed at what seemed to be pretty fair prices which was why I wanted to see if they would go. They were all in the 100-250K range.

While it may seem like a lot of boats aren't moving, there are some being purchased. This is why I would trust the stats rather then the general feeling of the crowd. Gloom can have a depressing effect on our perceptions that will flavor our view of what is the "obvious truth". This is why so few people actually see the upturn of the stock market when it happens, they are still depressed from all the previous news and influenced by the opinions of peers that may move slower then the market itself.


Jim

[jkleins]

Originally Posted by zeehag

would be nice to see the selling prices of boats instead of the asking prices.

I remember when I was growing up in the south it seemed like every contract for selling something was always for "one dollar and other considerations". I don't know if this was to avoid the public knowledge of the selling price or to avoid the tax man but it was common. I suspect there would be a number of those contracts if the sales price was always made public.

Jim

[Khagan1227]

I've been watching the price of boats for months since we are in the market and as a generalization prices are continuing to fall.

I am of the opinion that because the sales of the 50+ ft (15 M) boats are down about 20%, their prices have lowered considerably and put pressure on the price of smaller boats below them.

With the current economic crisis in Europe and the general belief in the U.S. that we are going into another recession, I'm betting the prices of boats will continue to fall.

I'm with Zee, I'd like to see the sold price vs the asking prices of the boats currently trading hands.

[JRM]

Originally Posted by Khagan1227

I've been watching the price of boats for months since we are in the market and as a generalization prices are continuing to fall.

<SNIP>

I'm with Zee, I'd like to see the sold price vs the asking prices of the boats currently trading hands.

While not exhaustive, your local boat broker has access to a list of sold boats, and it can be very informative. For instance, the boat we're interested in was sold to the current owners 8 years ago, and not only was he able to clue us in on the actual (reported) purchase price, but printed out the full yachtworld listing from the purchase as well. I also got the (reported) list of sales of that model for the last 15 years so that we can get a better idea of where we should aim. It's like "comps" for boats.

JRM

[Captain Hunter]

Where, show me a Caliber sailboat thats selling at a 40% discount from 2006! BS

[denverd0n]

I find it pretty amusing that a year after this thread was started, with an article that claimed that the market had turned and prices were starting to go back up, prices are STILL going down.

[zeehag]

beware of false changes. this is gonna get a lot worse before it gets any better.

[Jamel]

"There's life Jim but not as we know it"!
With the coming maelstrom looming, ecomomic, financial and social confusion will, I believe pervade everyones life. One day you have a job , the next you're out, bills to pay mouths to feed, confusion! Your savings in the bank may disappear overnight as people clammer for their money! Money in the stock market vanishes in an instant as stocks decline!

What to do.....where to go....how to live? On a boat, ofcourse, get away where the air is free and the living is easy! I feel a song coming on!!

On a boat living can be really cheap and a wonderful experience.....bring it on!

I need to get out more!!!

[K33pnitr3al]

Stuffs gettin better, better that you pray!!!

[welshdiver]

We have been looking out for a Catamaran for 2 years & have decided to head for USA in February "5 months time" to hopefully get one. As for the prices yes I have also seen new models drop in price from 600.k to 450k & cheaper ones from 200k to 175k but we are hopping to find one in good condition that has everything like solar, water maker etc & can go blue water for around 100k That will take 2 to 4 people & dive gear. We have found most boats for the 135k price only drop 10k if your lucky. Most of the web sites I have looked at only have a couple on them but have read on this forum that there are lots in the marinas that are not advertising with Brokers. If any one knows where the repo boats go in USA i would love to know as we are in NZ. Thanks to every one

[VirtualVagabond]

Originally Posted by welshdiver

We have been looking out for a Catamaran for 2 years & have decided to head for USA in February "5 months time" to hopefully get one. As for the prices yes I have also seen new models drop in price from 600.k to 450k & cheaper ones from 200k to 175k but we are hopping to find one in good condition that has everything like solar, water maker etc & can go blue water for around 100k That will take 2 to 4 people & dive gear. We have found most boats for the 135k price only drop 10k if your lucky. Most of the web sites I have looked at only have a couple on them but have read on this forum that there are lots in the marinas that are not advertising with Brokers. If any one knows where the repo boats go in USA i would love to know as we are in NZ. Thanks to every one

Even in this market that sounds like a lot to expect for the price.
But I have seen some unbelievable deals in the last 12 months. You just have to be at the right place at the right time, with cash you can peel slowly from the wad, puffin' a fat cigar, smirkin'...
Good luck.

[Dragon Lady]

The bottom end of the market usually stays strong during downturns because most people can only afford to buy there and demand stays there.
If you want the bargains you have to go further up the market were people are desperate and there aren't many buyers.
I'm not sure where that is right now, but I would guess that late model boats owned by people who need to get out would be a good place to start looking.