Yacht prices in Australia, are they plummeting ?

[ribbony]

I had not really looked at Yacht prices for a long time, too busy dealing with the current vessel. But last week while searching for equipment, some yacht adds appeared in the advertising around the search results page (clutter).

Ummmh, the boats were way under what would have been asked for them 5 -10 years ago. So, I looked around eBay and other yacht sites, similar situation from first impression.

The notable thing was that the yachts looked like good vessels, not projects or wrecks, damaged, write offs, etc.

Is this going to continue for a while, a downhill run for prices (in Australia). I know that will happen in the US and Europe (as per the other thread recently).

[Boracay]

I take a look at the for sale board in my favorite marina from time to time.

It looks like the well priced boats with "motivated sellers" are selling, others are not.

There are two "nice" boats that have not sold. Both are priced (in my opinion) 50% over market and neither owner is in any hurry to sell.

[Coops]

There are a lot of boats for sale at prices that were unheard of even a couple of years ago. Especially in the smaller range, seems like if you can still afford a boat it's most likely to be a big one.From my point of view this is a good thing, hoping to buy another one later this year so, plummet away me lovelies.

Coops.

[ribbony]

It is a double edged sword, nice to pick up another yacht in a depressed market, but then you can not recoup even half of what you have put in to the existing vessel.

The thought at the moment is that if a nice sized single hander vessel came up then we could consider that to supplement Orca, which takes two to sail her. The other half the crew has less sailing aspirations. Orca is too much for me alone and it was never set up for single handed sailing, though some of that is also our skill level in play.

There seemed to be some nice 30 - 32 footers.

[ausaviator]

I have a theory that at the moment the only things that are selling are new items and bargains. Seems that the averaged price boats aren't selling but people are still happy to buy new. Seems to be the same situation with aircraft at the moment.

[hoppy]

It looks to me that the sellers are not willing to lower the prices enough to offset the strength of the dollar and the "bargain" prices of boats, new & used.

I just noticed a Sun Odyssey 40 for sale in QLD listed for $198k. I paid $85k for mine and if I factor in $60k shipping & $25k for duties & customs, I'd be still ahead.

I'm pretty sure that there are a few buyers who would have bought domestically will now also buy in places like the med and plan on a season or two there before shipping it home.

[ribbony]

Sun Odyssey 40 for $85k - Wow, that is awesome, was it in good nick or damaged ?

[hoppy]

It was in pretty good nick other than the sails being tired originals. I did find out much later from others at the marina that the PO was in financial "trouble" and was motivated to sell and priced it accordingly

[Kenif]

Guys

I am of the opinion that prices have slumped. Bought my boat 18 months ago for $73K. Was originally listed at $89K. Other boats comparable to mine have recently been sold for under $60K.
I know of 2 NS 38 sold in Melb for under $65K. 12 months previously these boats were getting $95K.
Great time to enter may even be a good time to upgrade if you get a good price on a much more expensive boat, bad time to get out of the market.

[ribbony]

Does one generally get the good deals through the broker networks, or through private sales ?

[Budawang]

I'm looking to upgrade from my old Bounty 35 and have been looking at 10-13 year old production monohulls in the 36-37 foot range. However, it appears the asking prices in Australia are still at least 50% higher than North America and Europe. Does this just mean the spread between asking and selling prices in Australia is a lot greater than overseas? What are peoples' thoughts?


AUSTRALIAN BOATS

A 2002 Jeanneau Sun Odyssey 36.2 in Fremantle $144K:

Used Jeanneau 36.2 Sun Odyssey (2 Cabin Version) for Sale | Yachts For Sale | Yachthub

Another Fremantle boat, a 2001 Sun Odyssey 37 $165K:

Used Jeanneau Sun Odyssey 37- Pen Available for Sale | Yachts For Sale | Yachthub

A 1999 Mackay, QLD Sun Odyssey 36.2 $110K

Used Jeanneau Sun Odyssey 36.2 for Sale | Yachts For Sale | Yachthub

A 2000 Gold Coast Beneteau 361 $160K

Used Beneteau 361 Oceanis Clipper for Sale | Yachts For Sale | Yachthub

OVERSEAS BOATS

A 2001 Jeanneau 37 lying in British Columbia $94K:

http://au.yachtworld.com/core/listin...g_id=2224&url=

A 2002 Jeanneau 37 lying in Los Angeles $86K

A 2002 Jeanneau 37 lying UK $80K (new engine and rigging)

2002 Jeanneau Sun Odyssey 37 Sail New and Used Boats for Sale

A 2000 Beneteau 361 lying San Diego 86K

http://au.yachtworld.com/core/listin..._id=77288&url=

[The cockpit kid]

Originally Posted by hoppy

It looks to me that the sellers are not willing to lower the prices enough to offset the strength of the dollar and the "bargain" prices of boats, new & used.

I just noticed a Sun Odyssey 40 for sale in QLD listed for $198k. I paid $85k for mine and if I factor in $60k shipping & $25k for duties & customs, I'd be still ahead.

I'm pretty sure that there are a few buyers who would have bought domestically will now also buy in places like the med and plan on a season or two there before shipping it home.

When you bought your yacht back into aus do you know how the duty was calculated ie average price of same boat here or price paid overseas ?
I have plans of buying overseas and sailing back but not directly hopefully a few years after buying

[stillbuilding]

My impression is that the Aust economy has taken a dive in recent months. Lots of project boats for sale , very little work available, boat builders and chandlers off-loading inventory, eBay items selling slowly. OTOH prices for work done not falling so projects work out expensive unless DIY and buy carefully. Some good used boats available at 50% of asking prices a year ago. Housing market also down I suspect - have a friend who is unable to sell his house so he can buy a US yacht.

[The cockpit kid]

I,m in the same position as your mate , have my house on the market, getting lookers but no bites ,hanging in there though hope to be buying around easter next year

[40 South]

Me too..........sort of..........

Trying to sell my current boat to buy the next, but no takers, not even a tyre kicker. May have to humour the price a bit!