What's the Australian market like at the moment?

[bcg1976]

Hi all,

First post. In the markey for a small, sturdy yacht and interested in what people think the market in Australia is doing. Is it buyer, seller, in the middle?

Boats seem to be selling briskly down here in Tassie, but I'm seeing a few in Sydney hanging around for longer than i thought they should.

What say you guys?

Thanks,
Brad

[ozsailer]

Gday Brad, Having recent experience with the selling of boats I can only describe the market as HOT. I will preface my comments stating this is not only my opinion but that of many friends I know buying and selling as well as many brokers. Having sold our 44 ft Catarman I saw first hand how the market was travelling. When considering selling I was overwhelmed by Brokers to list our boat with all saying they could not get stock and if they did the vast majority were not lasting long. Catamarans are selling very quickly with many being sold before being listed. Only yesterday I spoke with friends who just sold their power cruiser. Gone in 12 hours. IMO any good quality vessel, power or sail is selling quickly. I must admit I have only been following boats for sale in the 35 to 50 foot range. I am currently following the market and also looking in Asia and seeing the same thing. if a boat has been on the market for some time I can only make the assumption that it is overpriced or there is an issue ( but I could be totally wrong) Most boats I have seen are also asking way more then what they are worth. We certainly did well out of the sale of our boat. Just the market forcing prices up.


Oz

[Reefmagnet]

It's a seller's market at the moment. A good boat will sell quick.

[bcg1976]

Thanks guys. I suspected this but wasn't sure if things had only picked up here due to the weather improving. Might be waiting until winter.

[HankOnthewater]

As Reefmagnet said, it is a seller's market.
I don't think waiting until winter will offer you better (in your case lower) prices. You just might have a few more boats to chose from then, or prices might be even higher, as the supply dwindles. Not many new boats are brought into Oz, and very few (?none) are sailing the Pacific, coming this direction, to be sold NZ or here in Oz.

It seems that Covid is driving the prices of boats, motorbikes, big 4WD, RVs, and generally all cars and and even real estate. Covid is not going away as yet, so prices will remain firm.

I am just waiting for a person with a wad of cash to offer me 40-50% more than I paid for a few years back..... Just kidding, but I know it is possible.

[ozsailer]

Originally Posted by bcg1976

Thanks guys. I suspected this but wasn't sure if things had only picked up here due to the weather improving. Might be waiting until winter.

I would suggest to keep looking, a bargain always pops up from time to time. Friends just purchased a new boat (to them) and they got a great deal. Always remember there are two prices, the asking price and the price someone accepts


Oz

[bcg1976]

Originally Posted by ozsailer

I would suggest to keep looking, a bargain always pops up from time to time. Friends just purchased a new boat (to them) and they got a great deal. Always remember there are two prices, the asking price and the price someone accepts


Oz

I agree with all. There's two boats right now that will fit the bill (clansman 30 in sydney and a Beneteau 285 in Hervey Bay). My only issue is that in being in northern Tasmania I can't get back if I go anywhere and I don't have the experience to jump in an unknown boat and sail back to my George Town mooring in an unknown boat :-)

I guess the point is I'm not really sure if the covid tax has been applied as I'm 20 years past since last boat.

[Lucky Luke 1]

Originally Posted by bcg1976

I agree with all. There's two boats right now that will fit the bill (clansman 30 in sydney and a Beneteau 285 in Hervey Bay). My only issue is that in being in northern Tasmania I can't get back if I go anywhere and I don't have the experience to jump in an unknown boat and sail back to my George Town mooring in an unknown boat :-)

Speak with your local club, someone will help sail her down. Seems to of been quite a few boats sailed from QLD down to Tassie the last year with new owners.
As everyone else has been saying, sellers market and not a lot of stock, perticuley here in Tas and Covid pricing.

In saying that a few with overseas owners have come up for sale in recent months down South, some very reasonable and snapped up. So keep an eye out and look every day.

Not sure why you cannot come back for? People are flying all over the place, stay out of a hot LGA and your golden.

They will be a Sherwoods Auction in December and a little boat called Gracie will be auctioned off (Devonport slipyards) may be worth having an investigation??

[Macdoug]

Not a lot of stock, but I wonder if things are changing. I got a call from a Sydney broker last week to see if I was interested in buying a yacht having contacted them early last year. I told her I had already bought over 12 months ago. When I said that there would be no trouble shifting it, she said the market had been red hot until about three weeks ago, but now crickets.

Perhaps people had stopped buying because they thought overseas holidays were back. Obviously with omicron etc, overseas travel remains risky so maybe market already restarted.

[bcg1976]

Originally Posted by Macdoug

Not a lot of stock, but I wonder if things are changing. I got a call from a Sydney broker last week to see if I was interested in buying a yacht having contacted them early last year. I told her I had already bought over 12 months ago. When I said that there would be no trouble shifting it, she said the market had been red hot until about three weeks ago, but now crickets.

Perhaps people had stopped buying because they thought overseas holidays were back. Obviously with omicron etc, overseas travel remains risky so maybe market already restarted.

Interesting take. I wonder how uncertainty will play out over the next few weeks.

[ozsailer]

Gday Brad, by co-incidence I live in the Hervey Bay area. I would be happy to look at the Benetau for you and give you my opinion but I tend to give very honest and forthright opinions . I have to say that if I was given a choice and I was sailing between Tassie and the mainland I would be choosing the Clansman every time. An older boat but has a distinguished history. For Just local lake or short coastal hops the Bene is a good boat.


Oz

[bcg1976]

Originally Posted by ozsailer

Gday Brad, by co-incidence I live in the Hervey Bay area. I would be happy to look at the Benetau for you and give you my opinion but I tend to give very honest and forthright opinions . I have to say that if I was given a choice and I was sailing between Tassie and the mainland I would be choosing the Clansman every time. An older boat but has a distinguished history. For Just local lake or short coastal hops the Bene is a good boat.


Oz

Thanks very much for the offer. I think I've been watching too much Beneteau interior porn which got me considering the one near you as it seemed cheap. Agree with you and the old clansman is where I need to be. I can literally throw a rock into bass strait from my mooring at York Cove so any small boat choice I make needs to be very hardy. There was a good looking one sold in Hobart 6 months ago for a good price.

[Galumay]

Definitely a red hot seller's market, we have spent the last 12 months looking and finally just bought a cat. If you are not first in line its gone. Just sold our old boat, owned it for 4.5 years, got $5k less than we payed for it, sold very quickly, no broker.

[bcg1976]

Follow up question. No doubt the market is hot with quick sales but have prices risen on old cruisers as well since covid?

[boatman61]

Originally Posted by bcg1976

Follow up question. No doubt the market is hot with quick sales but have prices risen on old cruisers as well since covid?

They have in the UK... prices for 1960's and '70's boats are now half as to twice as much as they were 2 years ago and the complete rebuilds have moved up to fill their space..