Used catamaran prices, availability during recession or crisis?

[scargo]

Just today price dropped by 100k € in Italy. Not that much 11% approximately.

BTW, the US just became the third most affected country, just behind China and Italy.

[smj]

Simple supply and demand. There will be less demand as people can’t afford to buy, and more supply as people can’t afford cost of ownership. Pretty simple really.

[AndrewA2]

Originally Posted by scargo

Just today price dropped by 100k € in Italy. Not that much 11% approximately.

What just dropped ?

[Matt Johnson]

The deals may already be here. We just got offered 30% off a boat we looked at earlier this year... which indicates to me they're panicking and would likely take less. Add in the strong USD (another 10% in value) and it might be a good time to start making offers on the boats currently listed. Of course, that's if you think thing will turn quickly around. -Matt

[valhalla360]

Originally Posted by tomfl

Not sure everybody knows "there will be much better buying oppotunities down the road".

While I have no doubt there will be lots of jobs lost the huge majority of the jobs will be things like fast food, or slow food, workers, Uber and Lyft drivers, and other low income jobs; not the type of folks who would buy a decent cat. ............

People buying 30-45ft cats tend to be small business owners and professionals:
- Small business is letting go low end employees to survive. They will also shed discretionary toys like boats if they need to survive.
- Professionals...Ford and GM are closing up shop and putting people on layoffs. Unless you are in health care, most industries are looking at ways to trim costs and unpaid leave or layoffs are a popular situation.

Far more of the upper-middle class live paycheck to paycheck than you might think and if this lasts for more than a couple months, they will need to shed expenses and raise cash.

[Mr B]

Its too early to tell yet,
We in OZ have just gone into Lockdown,
I dropped into my mates bike shop today, He is uncertain what is going to happen,
One thing he is very certain about, If this goes on for very long, He is out of business,
This would be a very common situation for many small businesses,
At the moment, They are just waiting to see what happens and for how long it will last,

We were discussing a cheap lathe for his business, Getting one cheap due to the recession,
But if your out of business, You dont have the money to buy anything,
Every thing you own is for sale, Just to pay the rent and put food on the table,

So the market will soon be flooded with Firesales of every thing that will bring in some cash,
Cars Trucks, Boats Bikes, Any thing that can be sold, will be,

[Sailing Hanse37]

Originally Posted by smj

Yes, but in the US I would guess the vast majority of 2nd home owners and boat owners are mortgaged to the hilt living paycheck to paycheck.
It’s a sad but true fact.

Well that’s definitely not so true in Europ. We have a boat, have no loans and have spare money

[eaglemac]

Part of the stress associated with boat ownership is monthly costs.. Loan costs, Marina costs, maintenance, etc.. These are fixed ownership costs without adding in operating costs. Financial hard times, with a boat owner's monthly income reduced can make those costs excessive. Recreational items need to be sold to hold on to essentials. The buyer needs to be patient to allow the financial stress to build. Remember, you are doing the seller a good deed by taking the financial burden off while you are taking it onto yourself. Patience will also allow the buyer to see if a boat is really a wise purchase during hard times.

[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.

[Astroman]

Look, it's simple and supported by facts (just google 'hardest hit industries in a recession). Yes, some owners have money and are going to be fine, but the facts are consistent with the dozens of recessions in the pat 60 years. In a recession EVERYTHING declines, especially luxury purchases for the middle and upper middle class (including boats).

New boat sales will decline. Used boat availability will rise. Charters will drop. People that are over leveraged will choose house over boat.

Anyone that says otherwise is too young to have lived through 2001 & 2009 or simply does not want to remember it.

It will be a good time to buy in a month. The question is now bad will it get and how long is this mess going to last?

[Sailing Hanse37]

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 am sorry, but in the actual situation i consider this remark as disgusting

[smj]

Originally Posted by Sailing Hanse37

Well that’s definitely not so true in Europ. We have a boat, have no loans and have spare money

As do we, but I don’t believe we are the norm.

[GBR134]

HS37 - You’re probably right but with my 3 closest family members all on the NHS frontline a sense of humour and perspective is still an asset. I ‘m not sure that 6 pages of responses revelling in how to snag a bargain is entirely laudable either.

I will now attempt to delete my tasteless post.

[rabbi]

Originally Posted by Sailing Hanse37

I am sorry, but in the actual situation i consider this remark as disgusting

I think he wants to point out that this whole thread is disgusting. Which it is to some extend.

[Happ]

It is a buyer’s market during downturns. Of course some will own their boats and have liquid cash to carry on. Here is an ugly truth. Over the past 40 years we have become an asset based economy. People get rich when their assets go up in a good economy. If they have mortgages and their income is disrupted they have to sell their nonessential asset(s). It also brings into play someone who may own a boat outright may need to sell as their other assets require cash and the boat gets cashed out. I have already seen numerous ads with price drops asking for offers to be submitted.

There will be deals out there for sure. Just make sure you are going through the buyer beware scenarios and don’t short cut your due diligence. Get the surveys done right. Cash is King during a recession.