Used catamaran prices, availability during recession or crisis?

[Cadence]

Come on children.

[smj]

Originally Posted by Cadence

Come on children.

Now that’s about as childish as one can get.

[Cadence]

Originally Posted by smj

Now that’s about as childish as one can get.

If you think adults going tit for tat totally off topic isn't childish, then I guess I have a childish viewpoint.

[smj]

Originally Posted by Cadence

If you think adults going tit for tat totally off topic isn't childish, then I guess I have a childish viewpoint.

Obviously your doing just that, tit for tat and totally off topic. Welcome to your 2nd childhood!

[rabbi]

Well, back to the point.

You can bet that there will be deals and higher availability. Probably more for almost new or even unused charter boats than for pre-owned ones.


I read a couple of FB posts that DreamYachtCharter has suspended payments for their "guaranteed income" program.

And DYC are not honoring contracts people have to get new boats into their fleets. Someone with a new Lucia due for delivery was asked to switch over to a 3yr old Bali instead.
That unlucky fella is now left with the choice of writing off his 100k Euro deposit, or throwing another installment into a fragile company hoping to get a boat he never wanted...
Or sue them, but that is like throwing more money into the fire.

[rallyman1122]

Originally Posted by GBR134

Oh come on if you are really keen to exploit the situation wait a few more weeks. A high proportion of big cat owners are elderly and vulnerable. Study the obituary columns with a copy of the boat register in the other hand. Tap up the widow just after the funeral.

I really hope that was sarcasm. Just remember, we are all in this together, just a little further apart.

Taking advantage of people at such a time as indicated above is disgusting..

[Cadence]

Originally Posted by rallyman1122

I really hope that was sarcasm. Just remember, we are all in this together, just a little further apart.

Taking advantage of people at such a time as indicated above is disgusting..

I guess the taping on the window is sarcasm. I'm afraid referring to the elderly is not and I'm one. As a caveat who would want to buy a boat they can't get to or move?

[Chotu]

Originally Posted by Cadence

who would want to buy a boat they can't get to or move?

That's exactly what's going on in the market.

I have buyers lined up like crazy on my boat for sale. Not a single one can get to it.

The virus has paused business. It is not changing it to that great an extent.

Everyone is just waiting it out until the pause is over.

[rabbi]

Originally Posted by rallyman1122

I really hope that was sarcasm. Just remember, we are all in this together, just a little further apart.

Taking advantage of people at such a time as indicated above is disgusting..

there is always to sides of a coin.

A widow in bad need of money will probably be happy if someone pays 50% of december's value now, compared to 100% in a few years.

Originally Posted by Chotu

That's exactly what's going on in the market.

I have buyers lined up like crazy on my boat for sale. Not a single one can get to it.

The virus has paused business. It is not changing it to that great an extent.

Everyone is just waiting it out until the pause is over.

I think it depends where you are I guess.
A good part of all catamaran sales used to be international. Like buyer in Germany, seller in UK, boat in Greece. These are simply impossible today.
If somebody lists a Lagoon 400 for 150k Euro in Italy now I simply won't be able to buy it. Not even for 100k Euro or 50k. Its just impossible, so for these everything is on pause as you say.

If some owner is in urgent need of money then a local person can get deals for sure.


But this is not just a small recession. This is a full stop for many sectors.
We are talking about millions of unemployed in every country, region, and almost every sector. Tenhousands of businesses closing forever, with tourism being hammered badly.
People will have to sell any of their assets to raise some money. Just wait a few more weeks.


At the same time almost nobody feels the urge to buy, as there is no need to own a boat one can't use for at least a year or two.


This won't leave any market unaffected.

[smj]

There is no doubt in my mind that the boat market will be hit pretty hard.
And the idea that a buyer would be taking advantage of a seller giving a low offer and buying a boat for under what the market would bare a couple of months ago is absolute BS. If the seller accepts the offer then that is market value for that boat. And if the seller accepts a low price I’m guessing they have to sell and would probably appreciate the fact they found a buyer in a falling market.

[tomfl]

Originally Posted by rabbi

SNIP

A good part of all catamaran sales used to be international. Like buyer in Germany, seller in UK, boat in Greece. These are simply impossible today.
If somebody lists a Lagoon 400 for 150k Euro in Italy now I simply won't be able to buy it. Not even for 100k Euro or 50k. Its just impossible, so for these everything is on pause as you say.


SNIP

I live in NW Florida and could not get to South Florida if I saw a boat I wanted to buy there. Not to mention in addition to govt limits on travel many marinas also have restrictions on entry. I would bet very few boats are selling now no matter what the price.

It is also not clear just how long things will be crazy. Not just in the boat market but in the financial area as well. While I understand the 'cash is king' issue truth be told many banks are limiting how much cash you can withdraw. On the other hand many governments seem to be throwing money at the problem. I have seen ideas about me getting a $US1,200 to $US3,400 check from Uncle Sugar. I know that is not enough to buy a boat, at least I think so. On the other hand govts are also headed to negative interest rates which means it makes sense to spend money; something that will drive up prices.

I still think most people who will take real hits are those who have low paying jobs. A lot of effort is being made to assure a month or two of financial assistance for what I call normal workers. Not saying folks won't be hurt just that it is not clear that folks who own nice boats will wind up having to have a fire sail. Sure there will be some; but so far I have not really seen any huge price drop.

I am still looking for some flavor of an Fboat from something like a Pulse to the C37; if the price and condition are right. Have not seen any real price drop in that type of boat.

[Chotu]

Originally Posted by smj

There is no doubt in my mind that the boat market will be hit pretty hard.
And the idea that a buyer would be taking advantage of a seller giving a low offer and buying a boat for under what the market would bare a couple of months ago is absolute BS. If the seller accepts the offer then that is market value for that boat. And if the seller accepts a low price I’m guessing they have to sell and would probably appreciate the fact they found a buyer in a falling market.

I think this is an important concept to remember in all markets. Labor market works the same way. If a job is filled, despite people saying it should pay more (or less), it was the right salary/hourly.

Same with the boat market. If it sells, that's the right price.