What's the Australian market like at the moment?

[Which Ways West]

I’d be interested to hear peoples opinions on this question four months later, from my buyers perspective the market was crazy hot when we started seriously looking in November, but seems like it’s cooling down now with the over priced boats pilling up and not moving for at least a few months now. Those that are fairly priced still go fast, but I’m putting my bet on waiting out the dreamers (there’s a cat that shall not be named that is currently listed at $155,000 more than the owners paid 4 years ago…that hasn’t moved in three months and counting).

[HankOnthewater]

I think it is still a seller's market, but slightly less so compared with 2021.
But then again, 10 days ago I was considering buying another boat, very reasonably priced, checked it out, and said I will sleep on it...... and next day it was sold. Obviously that sleep made the decision for me, and the other buyer did not need a sleep.

[Which Ways West]

It does seem like well priced boats (still probably $30,000 to $50,000 more than what would have been considered well priced pre-COVID for the boats that I'm looking at) do move quickly. What I find hopeful is that those $100,000 over priced are faltering and not selling. It will probably take a few more months yet of them sitting on the market for unreasonable sellers to readjust their price expectations, at which time I hope that due to interest rate increases around the world the boat market is not nearly as hot as it once was. There's also the hope of borders opening across the South Pacific and boats coming across this season once again to be sold in Aus later this year when they head south to get out of the way of cyclone season.

[Steveburt48]

Hi all
Im not sure about the market as yet as ive only just listed my Bavaria 50 so i may be able to tell you shortly how active it is at the 50ft cruising end, i hope lol

[Fore and Aft]

I am still doing lots of pre-purchase surveys here in Queensland. The brokers I talk to say it's slowed down but you get a well looked after reasonably priced boat and they still sell in days.
Nice yacht Steve, no mention of engine hours or interior photos on your ad? 50 foot is an interesting market just because costs go up, draft and lots of newbies who have fuelled the hot market find 50 foot a big first boat. I have done two surveys recently on 50 footers and you could see the look on the buyers (first time yachties) faces when we are manoeuvring around the marina. They must have thought it was just like parking a car.
Cheers

[clownfishsydney]

My old boat is advertised for more than $140k above what the current owners paid me for it only 2.5 years ago!

[Traveltosea]

Lots more catamarans piling up on yachthub at the moment. Seems like a lot of dreamers out there still trying for crazy prices though. Any that are reasonable (maybe 30-50k more than they would be pre covid) seem to be selling pretty quick still.

A lot of delusional sellers have obviously heard stories about how they can get twice the value of their boat at the moment but I think a truer thing to say would be you can get a good price but no ones going to pay $600k for a boat that went for $350k pre covid. How well kept and updated the boat is also varies widely but poorly maintained vessels still seem to be trying for the same high prices as well. I think a part of the problem is someone trying to price a boat right now looks at what others are advertised for and tries for about that much but doesn't realise the first seller was also dreaming and that boat has not sold for months.

Clownfishsydney I notice Catlypso is definitely one of those. Been up for about 5 months now with no sale. Unlikely to sell unless it drops by close to 100k I think.

Lady D is another funny one just listed. A Leopard 40 that sold 5 months ago as Lady Daka in Victoria, listed at 379k at the time. Now advertised in NSW by the new owner at 465k with likely only 40-50k spent on her in the meantime. Amazing appreciation of 86k there in 5 months. (People expecting to get back every cent they spent on maintenance/upgrades also seems to be a thing)

My thought is these cats are likely to just keep piling up for a while until people realise they aren't going to sell at those prices then get discounted to still somewhere above pre covid prices but not what some of these sellers are dreaming up they can get.

Interest rates are going to make a lot of people feel less secure as they keep going up. Also boats will finally start arriving through the pacific in increased numbers just as demand seems to be levelling off. Tides turn slowly and it's sometimes hard to see at the time but eventually it will start rushing the other direction and a lot will be caught off guard.

[goboatingnow]

Dreamer starts looking for a boat

Dreamer is shocked at pricing

Dreamer rants about how over heated the market is and it will all end in tears.

[Traveltosea]

Perhaps

But I'm still expecting to pay more than pre covid. Just not double.

Those that come up at 30-50k more than pre covid levels sell fast and when I am ready to buy I will probably end up paying this premium.

Interesting to note the boats that are priced at even more of a premium than this though seem to have completely stopped selling in the past 4 months, at least in Australia. Those willing to buy at any price seem to have already got their boat.

[goboatingnow]

Originally Posted by Traveltosea

Perhaps

But I'm still expecting to pay more than pre covid. Just not double.

Those that come up at 30-50k more than pre covid levels sell fast and when I am ready to buy I will probably end up paying this premium.

Interesting to note the boats that are priced at even more of a premium than this though seem to have completely stopped selling in the past 4 months, at least in Australia. Those willing to buy at any price seem to have already got their boat.

I would agree, actually , the peak price lift is now centred at under 200k , high end boats with big brand names in the 400-600K mark are struggling to make anywhere near asking price and the sales cycle is slowing

A friend recently got a pristine discovery 56 at a very good discount from asking