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Old 25-07-2021, 16:17   #1
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Question Old Full / Modified Keel Are Not Cheap Anymore???

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?
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Old 25-07-2021, 16:43   #2
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

@lyl,

Hmm. Well, are you sure those are sold prices? Asking prices do not always equal selling prices.

Just within the last week a rather well maintained Halberg Rassey 35 sold for $29,000 in the Marquesas Islands. Might be the bargain of the year.

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Old 25-07-2021, 17:56   #3
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

I don't think IPs and Babas in good shape were ever "cheap" were they? Probably need to clarify which monohulls, condition, and which sizes you are talking about. I've seen what I think of as a good, solid old boat, worthy of refitting, go to the crusher.
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Old 25-07-2021, 19:17   #4
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

When were IPs cheap? And they have not been around 40-50 years.
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Old 25-07-2021, 19:18   #5
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

It Covid inflation. Wait a year or so. I bet prices for all these Covid purchases will come down quite a bit.
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Old 26-07-2021, 09:26   #6
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

Quote:
Originally Posted by Mike OReilly View Post
It Covid inflation. Wait a year or so. I bet prices for all these Covid purchases will come down quite a bit.
Exactly! Also, in the northeast, the boating season will start to wind down in a months and a half, and traditionally boat prices drop as the winter storage fee and preparation becomes a factor. People will get motivated to sell to avoid that.

I know a few people who have purchased a boat within the past year and they are now seeing the other costs that are not upfront costs. The true cost is beginning to register!
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Old 26-07-2021, 09:32   #7
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

Quote:
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It Covid inflation. Wait a year or so. I bet prices for all these Covid purchases will come down quite a bit.
I think this is correct. Same with campers/RVs. Last year people wanted to get out of the house but still needed to isolate - boats and campers fit the bill until the buyers figured out "But wait - I don't really like camping and boating."

They'll give it a try again this year and then flood the market whenever camping/boating season is over.
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Old 26-07-2021, 09:33   #8
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

But these boats are pure quality and those coastal cruisers an yoghurt cups are definitively not.
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Old 26-07-2021, 09:51   #9
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

Quote:
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It Covid inflation. Wait a year or so. I bet prices for all these Covid purchases will come down quite a bit.
There are tens of millions of BabyBoomers retiring now and in the upcoming years. I expect the demand side for alternative living spaces to remain high for some time.
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Old 26-07-2021, 10:12   #10
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

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There are tens of millions of BabyBoomers retiring now and in the upcoming years. I expect the demand side for alternative living spaces to remain high for some time.
I agree, however I suspect that the impact on sailboat prices will not be that great. Many will consider it however a lot will opt for an easier to operate vessel such as a trawler. An RV requires even less work, and retirement communities require almost no work.

Many more will find other options that require even less effort. I have an aunt and uncle who considered a boat, however opted for a retirement village, designed to handle all maintenance while offering everything within walking and golf cart distance.

Most retirees I know who have considered it are put off by the effort involved. Those who have been sailing for some time are not, however they are the minority of retirees.
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Old 26-07-2021, 10:23   #11
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

I think it will be 2-3 years before the market flips over
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Old 26-07-2021, 10:29   #12
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

The money printing has been through the roof!


Currencies are worth less so prices are higher for just about everything.


I wouldn't expect any reduction in price going forward.
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Old 26-07-2021, 10:46   #13
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

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When were IPs cheap? And they have not been around 40-50 years.
Actually the IP 26 MKI was built from 1980-1982. The more popular IP 31 was manufactured from 1983-1989 with 262 units built.
So just over 40 years of Yacht building for IP.

https://sailboatdata.com/sailboat/island-packet-26-mki
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Old 26-07-2021, 10:53   #14
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

Quote:
Originally Posted by lyl View Post
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?
You can still find them at good prices if you look around a bit.

Here is a Southern Cross 31 for $31,000

https://www.yachtworld.com/boats/198...-sc31-3847199/
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Old 26-07-2021, 11:10   #15
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Re: Old Full / Modified Keel Are Not Cheap Anymore???

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The money printing has been through the roof!
Currencies are worth less so prices are higher for just about everything.

I wouldn't expect any reduction in price going forward.
I agree, although I can see a few situations where that may not hold true. I also think that conditions will vary from region to region. What might happen in the southeast of the U.S. may not apply to southern Europe, or the Pacific Northwest.

The only way that may change is if there is a crash in the boat market and people are desperate for extra cash, or can't justify the expense of a vessel in a badly depressed market. Having said that, I agree that as the powers that be continue to debase the currencies, the pricing trend will continue to be upwards.
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