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JBsurfin · 30-07-2021, 12:27

Quote:

Originally Posted by lyl

lately, I've been seeing quite a few 40-50-year-old IPs and Babas that are being sold for around $100K. No more cheap old monohulls anymore? Party is over?

From a local Broker/ I know Ive read even small(30ft or less) power boats are on back order.
The Sellers Market Might be Transitioning
Emails & Phone calls are on the Rise
From January 1st of 2021 to July 29th, 2021 we only we received 3 calls from folks who wanted to discuss selling there boats. In years past we averaged 20-30 calls during the same time frame. In addition, since July 15th we have received 14 calls from parties interested in listing. In addition, Yachtworld.com listing's have increase dramatically in the last three weeks. Our assessment is many savvy boaters may be starting to take advantage of elevated values.

lyl · 30-07-2021, 12:38

Quote:

Originally Posted by JBsurfin

From a local Broker/ I know Ive read even small(30ft or less) power boats are on back order.
The Sellers Market Might be Transitioning
Emails & Phone calls are on the Rise
From January 1st of 2021 to July 29th, 2021 we only we received 3 calls from folks who wanted to discuss selling there boats. In years past we averaged 20-30 calls during the same time frame. In addition, since July 15th we have received 14 calls from parties interested in listing. In addition, Yachtworld.com listing's have increase dramatically in the last three weeks. Our assessment is many savvy boaters may be starting to take advantage of elevated values.

ArmyDaveNY · 30-07-2021, 12:46

Quote:

Originally Posted by LittleWing77

Further to this, at the last Toronto International Boat Show before Covid (January 2020), the hottest boat sales were for Ranger Tugs: https://rangertugs.com/

Go figure,
LW77

A friend of mine had a Ranger Tug and I was impressed with it. While it and similar vessels are not my cup of tea, I can understand the appeal. He wasn't terribly interested in the nautical knowledge aspect of boating and really just liked being on the water in very calm conditions. For him, it was perfect.

I have known a few people with sailboats who did more motoring than sailing since they too just liked being on the water. Eventually they also sold their sailboats and moved into some sort of power boat.

When you said go figure, I feel the same way at many auto shows, particularly when it comes to an automatic gearbox!

ArmyDaveNY · 30-07-2021, 12:51

Quote:

Originally Posted by JBsurfin

From a local Broker/ I know Ive read even small(30ft or less) power boats are on back order.
The Sellers Market Might be Transitioning
Emails & Phone calls are on the Rise
From January 1st of 2021 to July 29th, 2021 we only we received 3 calls from folks who wanted to discuss selling there boats. In years past we averaged 20-30 calls during the same time frame. In addition, since July 15th we have received 14 calls from parties interested in listing. In addition, Yachtworld.com listing's have increase dramatically in the last three weeks. Our assessment is many savvy boaters may be starting to take advantage of elevated values.

This is not surprising to me. There have always been a fair number of people who bought boats without a reasonable understanding of what it actually means to own a boat. This was true before the lock downs, and when the lock downs hit, this number increased. I have read that RV sales were up also. People were tired of being locked down and wanted to get out; some bought boats.

Now that they have had some time with them, a fair number, just like before, have tired of the work, expense, etc. of owning a boat. It stands to reason that the number of those selling will go up.

goboatingnow · 30-07-2021, 15:04

Quote:

Originally Posted by ArmyDaveNY

This is not surprising to me. There have always been a fair number of people who bought boats without a reasonable understanding of what it actually means to own a boat. This was true before the lock downs, and when the lock downs hit, this number increased. I have read that RV sales were up also. People were tired of being locked down and wanted to get out; some bought boats.

Now that they have had some time with them, a fair number, just like before, have tired of the work, expense, etc. of owning a boat. It stands to reason that the number of those selling will go up.

The view in Greece is more yachts are being listed because pricing is so high that people are “ cashing out “

Whether this tips the market is unclear.

Cheechako · 30-07-2021, 15:11

Must be big Baba's. They haven't been too expensive last I looked a year or two back....
Baba 30: $39k and up https://www.yachtworld.com/boats/1984/baba-30-3688468/
Baba 35: $65 and up https://www.yachtworld.com/boats/1979/baba-35-3576760/

Cape Dory's are usually pretty reasonable. Don't let asking price deter you, make an offer.

ArmyDaveNY · 30-07-2021, 15:18

Quote:

Originally Posted by goboatingnow

The view in Greece is more yachts are being listed because pricing is so high that people are “ cashing out “

Whether this tips the market is unclear.

I think that is a part of it. I suspect that those who are cashing out were less convinced of their need or desire to have a boat, and thus took advantage of a strong market. It is also possible that those who sold wanted to keep the boat but needed the money.

Icarus · 30-07-2021, 16:37

Quote:

Originally Posted by lyl

lately, I've been seeing quite a few 40-50-year-old IPs and Babas that are being sold for around $100K. No more cheap old monohulls anymore? Party is over?

Sounds about right, however just because a vessel is older it doesn't mean it's bad.
It really depends on each individual case.
I rather have a well built 40 year old yacht in good condition then a floating condo.

lyl · 31-07-2021, 12:57

Quote:

Originally Posted by Cheechako

Must be big Baba's. They haven't been too expensive last I looked a year or two back....
Baba 30: $39k and up https://www.yachtworld.com/boats/1984/baba-30-3688468/
Baba 35: $65 and up https://www.yachtworld.com/boats/1979/baba-35-3576760/

Cape Dory's are usually pretty reasonable. Don't let asking price deter you, make an offer.

To be honest, I did a bad job averaging the prices and years. It was not the best idea to gather Baba and IP in one basket for this particular post. And I've found quite a few old, but still very sailable, sailboats recently; my worries were unfounded. The dream still is going on. ~45k can still make dreams come true and cover the fixes (excluding the future maintenance.)

lifeofreilly57 · 31-07-2021, 14:19

We've been in Grenada this covid season, I've been amazed at the number of people who've bought boats sight unseen with little or no experience. I figure many will be up for sale next year. Out of 8 boats we befriended sailing the islands in 18/19 only our boat and one other are still sailing, all the others ran back to the states and sold. We're just waiting for the covid restrictions to ease, I suspect you'll see the same turnover next year, buying this year is like buying a house during a housing frenzy.

The one positive thing I've seen come out of all this is the number of younger cruisers deciding to get in, they've pretty much stuck it out through the changing rules and regulations, it's mostly baby boomers who ran out then ran back.
If I had someplace to stay I'd sell my boat currently and wait til next year to buy back in. But, I've just gotten mine where I want it, and don't need another project just yet.

ArmyDaveNY · 31-07-2021, 15:18

Quote:

Originally Posted by lifeofreilly57

The one positive thing I've seen come out of all this is the number of younger cruisers deciding to get in, they've pretty much stuck it out ....

But, I've just gotten mine where I want it, and don't need another project just yet.

This is encouraging!

Your last sentence reminded me of when I bought my first sailboat. I thought I would be bored sailing, entertaining my friends, etc. Then I discovered the joy of wiring, maintenance, repairs, bottom paint, and so on!

I am sure the joy I discovered is also going to cause a fair number to sell.

**hpeer** · 31-07-2021, 15:40

Well we are boomers and have had our 1987 steel cutter since about 2010. She has been to Labrador and Grenada in that time. We have pit a LOT of money and work into her and she should reasonably be worth more now than when we bought her.

BUT we have no interest in selling and hope to make it back to the Eastern Caribbean in November. I have waaay to much sweat equity and also am very happy with her.