Is the Market Really this Bad ?

[wolfenzee]

I liked what I saw on the boat I got (it was before the market ""crashed") so I didn't hesitate or haggle. Turned out alot of other people were looking at the boat....they were all playing the "waiting game". I got the boat for way under the market value, all the people that missed out only have them selves to blame. How much to pay....an amount you feel comfortable paying , something that will leave you enough money left over for repairs and/or upgrades and operating costs. Don't bite off more than you can chew...actually leave some on the plate to make your meal more enjoyable

[deluxe68]

There is a leftover new 2009 IP460 for sale at $389K, quite a steal if that is the type of boat you are considering.

[wolfenzee]

My brother bought a house for $1.4mil a couple of years ago and it is now worth $500K....I told him if he paid $1.4 for the house it is because that is how much it was worth to him. You don't buy a boat as a finacial investment (possibly a spiritual investment). You pay what the boat is worth to you.
$380K for a boat?....<than half that you can get a 60'loa (50'lod) classic design wooden sailing schooner...with all the bells and whistles.

[savoir]

And the maintenance costs on this boat will be . . . . . .

[downunder]

Originally Posted by savoir

And the maintenance costs on this boat will be . . . . . .

More than those of the 46ft Schonning linked by Cat-man-do

[savoir]

For sure.

[Nessus]

Originally Posted by savoir

And the maintenance costs on this boat will be . . . . . .

"one million dollars"

[Mr B]

Multihullsolutions are saying they are selling One catamaran a week and going great, But also mentioned that the market was sluggish, I dont know if thats because of dropping prices or not,

Cat Man Do is saying the prices are dropping like flies,

I didnt look at Yachthub, So is the market bad or not, Its very hard to tell with These conflicting reports,

Then it depends on the sellers financial situation as well, They may be in a have to sell situation,

[savoir]

Originally Posted by Nessus

"one million dollars"

Cash or cheque ?

[downunder]

Prices certaninly seem to have come down in Aus.e

New imported vessels also have dropped due to our dollar.

Even Seawind has become more competetive since moving to Vietnam.

[cat man do]

Originally Posted by Mr B

Then it depends on the sellers financial situation as well, They may be in a have to sell situation,

I can assure you that at least one of the boats I linked to is not in this predicament, but they are bleeding a $k or more a mth on storage and upkeep on a boat they no longer use, not to mention lost opportunity costs.

[westsail374]

So now it looks like we will fall off the budget cliff. More uncertainty, meaning fewer itchy trigger fingers, i.e. less folks likely to pull the trigger on buying boats.

[Doodles]

Originally Posted by westsail374

So now it looks like we will fall off the budget cliff. More uncertainty, meaning fewer itchy trigger fingers, i.e. less folks likely to pull the trigger on buying boats.

Look on the bright side, the world didn't end yesterday like it was suppose to so now you've got another chance to buy that boat you've always wanted.

[David_Old_Jersey]

Originally Posted by westsail374

So now it looks like we will fall off the budget cliff. More uncertainty, meaning fewer itchy trigger fingers, i.e. less folks likely to pull the trigger on buying boats.

The goods news is that the Cliff is now more of a slope - at least that is how the reporting is now being done over here......which kinda makes me suspect that no deal will be done by 1 Jan (with us being warmed up to that!, actually does kinda make sense - Obama gets his tax increases, and one thing is for sure folks in Congress will keep on voting for more spending even if not in one go as part of a Budget, after all it is how the US got into the financial mess in the first place!).

[tartansail]

The basic problems with the market are that there are way too many perfectly serviceable used boats around, more people are leaving the market than coming in, and the economy is stagnant. I wonder whether the losses from Sandy will turn into a positive blip in the Eastern US as Spring approaches. A fair amount of inventory was lost so there may be a temporary correction to the supply imbalance. Many of the people who lost their boats will want to replace them. Many were insured so there will be some money available.

Not all scenarios are complete disasters though even if there is a bump, it's not likely to last beyond this year. And the cliff. Political brinksmanship that has gotten blown up to the point it could be a self-fulfilling prophecy.