$500K for a Used Cat... What do you buy?

[Dave_S]

Originally Posted by boatingnewbie

The "key" is knowing you're actually buying at market value. And that IS a lot harder to determine with smaller volume boats where this is less historical sales to look at for 'comps' and know what the market is saying things are worth -- which is far easier with prices for more popular boats simply because more of them are for sale and one can track the going prices & sales; hence knowing they are closer to market value.

We are going to have to disagree. It's an easy idea to sell this throw away line that puts people (like yourself) of buying something that they may have been happier with.

Market value rate of change isn't different to other boats. Don't get scared off without having a look for yourself.

[boatingnewbie]

Originally Posted by Dave_S

We are going to have to disagree. It's an easy idea to sell this throw away line that puts people (like yourself) of buying something that they may have been happier with.

Market value rate of change isn't different to other boats. Don't get scared off without having a look for yourself.

For the record, I'm not one of those people that puts "Resale Value" at the top of the decision list. I'm well aware that boats, regardless of make/model/year/demand are still going to contain a considerable factor of depreciation.

I personally don't have a problem with buying a more obscure, or little-known boat model if it's high quality and what I'd want. But back to the original topic of market value... it is a bit tricky to tell what that actually is on a certain boat when there aren't many of them for sale to make a comparison in asking prices or how long they've each been on the market.

Furthermore, there are solid reasons why that matters... valuations for boat loans, marine insurance, etc.

[Dave_S]

As a general guide which I use and is surprisingly acurite be it lawn mowers, boats or push bikes.

New price at time of production $ X

Second hand, "as new" condition $X x 0.66 be prepared to loose a little on sale
A bit of wear and tear $X x 0.55, maintain it well and get your original price back
Tired and needs work $X x 0.40 improve it and make purchase price back + a bit

Add to that desirability and low supply
Less for age and excess supply

You have to apply some not so common sense to this.

[jbinbi]

Currently, due to market conditions, it is a sellers market for young used boats in good condition. 3 to 5 year old owner's production cars are going for between 80 to 100 % of what the owner paid a few years ago. This due to demand and increased prices of the new boat.

[ranchero76]

Originally Posted by jbinbi

Currently, due to market conditions, it is a sellers market for young used boats in good condition. 3 to 5 year old owner's production cars are going for between 80 to 100 % of what the owner paid a few years ago. This due to demand and increased prices of the new boat.

You found the way to explain in short what I was trying to say

[Palarran]

Originally Posted by boatingnewbie

Any idea why that 450 is so cheap? Compared to others on the market it's about $100K less.

IMO, any catamaran located in the Caribbean needs to be suspect for hurricane damage. From a little to totaled, the number of boat affected last year is a real high percentage.

The photos you are viewing very well could be the ones taken when the boat was brand new. That is very common.

[Tornadosailing]

Originally Posted by ranchero76

For many sellers it takes MANY YEARS to realize realistic price.

That was the case for my boat. I found ads for it going back at least 3 years. His price was just too high, even though it was an extremely low hour, virtually unused dock queen. The market wouldn't support his price. I saw the boat listed a little more than $100K less than what he was previously asking, and didn't go look because it was still too high. Then the broker and/or manufacturer irritated me with my new boat purchase, and I had another look. The price had come down $49K, so I offered $11K less than that. He took it.

A boat, or anything else, is only worth what someone will pay for it. The price you ask has very little bearing on it.

[ssmoot]

Back to the thread topic:

It'd be a tough choice. I've never been near a Lagoon 440, but the price is so nice. So much money left over for a refit.

Next up would be a Lagoon 450 Fly, Bali 4.3 or Bali 4.0 in that order.

A new Bali 4.1 might just squeeze in at $500K though? That'd be a tough choice. Do I want a 440 with a really amazing refit, a larger, nicer, WYSIWYG 450F or a new in box Bali 4.1?