Cruisers Forum
 


Join CruisersForum Today

Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on Cruisers Forums. Advertise Here
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 16-03-2020, 09:29   #1
Registered User

Join Date: Feb 2020
Posts: 38
Used catamaran prices, availability during recession or crisis?

Hello,

Before y'all start, I know, the best place to be right now is on a boat (not selling it!). Unfortunately, I'm a few months late and looking to buy a catamaran (to get on the water!). I have no idea what the lasting impact of the current health and economic chaos will lead to. But, let's assume this is going to drag us into a recession.

For anyone that remembers 2008, what happened to the boat market during that time?

Is it a bad time to buy a boat because in a recession prices come down and availability goes up?

Thanks for your insight!
__________________

Astroman is offline   Reply With Quote
Old 16-03-2020, 14:07   #2
Registered User
 
Sand crab's Avatar

Join Date: Oct 2010
Location: Gig Harbor, WA
Boat: 34' Crowther tri sold 16' Kayak now
Posts: 4,105
Re: Used catamaran prices, availability during recession or crisis?

It's definitely going to affect sales in the Caribbean and South Pacific because most potential buyers can't travel there. Locally we will probably see depressed prices too because of the possibility of limited travel. Boat prices were down in 2008. Gas went way up just after that so power boats were not the best investments.
__________________

__________________
We don't need no stinking badges.
Sand crab is offline   Reply With Quote
Old 16-03-2020, 14:10   #3
smj
Registered User

Join Date: Nov 2007
Boat: Searunner 38 catamaran
Posts: 4,743
Re: Used catamaran prices, availability during recession or crisis?

We bought and sold a catamaran during that time and prices were down.
smj is online now   Reply With Quote
Old 16-03-2020, 14:14   #4
Writing Full-Time Since 2014
 
thinwater's Avatar

Cruisers Forum Supporter

Join Date: Nov 2008
Location: Deale, MD
Boat: PDQ Altair, 32/34
Posts: 7,059
Re: Used catamaran prices, availability during recession or crisis?

In general used cats sell pretty well, and I think you will find the owners will just wait. Additionally, I doubt most sellers believe this will be a long downturn. Bad for some businesses, neutral for others, and not long. Or at least they won't believe it until they see it.


The other problem is buying. Financing it, OK, but selling beaten down assets would be ugly.
__________________
Gear Testing--Engineering--Sailing
https://sail-delmarva.blogspot.com/
thinwater is online now   Reply With Quote
Old 16-03-2020, 14:16   #5
smj
Registered User

Join Date: Nov 2007
Boat: Searunner 38 catamaran
Posts: 4,743
Re: Used catamaran prices, availability during recession or crisis?

Quote:
Originally Posted by thinwater View Post
In general used cats sell pretty well, and I think you will find the owners will just wait. Additionally, I doubt most sellers believe this will be a long downturn. Bad for some businesses, neutral for others, and not long. Or at least they won't believe it until they see it.


The other problem is buying. Financing it, OK, but selling beaten down assets would be ugly.


How many owners of boats and 2nd homes can afford to hold on in a big downturn? The fluff goes first.
smj is online now   Reply With Quote
Old 16-03-2020, 14:38   #6
Registered User
 
Mr B's Avatar

Join Date: Aug 2011
Location: Melbourne Australia
Boat: Paper Tiger 14 foot, Gemini 105MC 34 foot Catamaran Hull no 825
Posts: 2,456
Re: Used catamaran prices, availability during recession or crisis?

Financial downturns usually last about two years,
2008, I lost 50 grand off my property investment, On Paper,
I didnt sell,
Two years later, I had gained 100 grand on it,

You only lose if you sell in a recession or financial down turn,
The same happened in 2001, The previous down turn or recession,

For you, wait till the market crashes and then buy a cheap boat,
Your a Buyer, Cheap as possible, Its to your advantage buying in a recession,

I dont think you will have to wait long, The market has lost 10% and is going down,
People will start panic selling soon, Its just the way it is,
Mr B is online now   Reply With Quote
Old 16-03-2020, 15:16   #7
Writing Full-Time Since 2014
 
thinwater's Avatar

Cruisers Forum Supporter

Join Date: Nov 2008
Location: Deale, MD
Boat: PDQ Altair, 32/34
Posts: 7,059
Re: Used catamaran prices, availability during recession or crisis?

Quote:
Originally Posted by smj View Post
How many owners of boats and 2nd homes can afford to hold on in a big downturn? The fluff goes first.

Most, if they are older, well invested, and everything is paid for. They don't even blink. They are wise enough to know it is exactly the wrong time to sell.
__________________
Gear Testing--Engineering--Sailing
https://sail-delmarva.blogspot.com/
thinwater is online now   Reply With Quote
Old 16-03-2020, 15:24   #8
smj
Registered User

Join Date: Nov 2007
Boat: Searunner 38 catamaran
Posts: 4,743
Used catamaran prices, availability during recession or crisis?

Quote:
Originally Posted by thinwater View Post
Most, if they are older, well invested, and everything is paid for. They don't even blink. They are wise enough to know it is exactly the wrong time to sell.


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.
Itís a sad but true fact.
smj is online now   Reply With Quote
Old 16-03-2020, 15:38   #9
Registered User
 
Mr B's Avatar

Join Date: Aug 2011
Location: Melbourne Australia
Boat: Paper Tiger 14 foot, Gemini 105MC 34 foot Catamaran Hull no 825
Posts: 2,456
Re: Used catamaran prices, availability during recession or crisis?

Quote:
Originally Posted by smj View Post
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.
Itís a sad but true fact.
Mercenary,
But its a good time for the buyers when these people start selling their boats and First or second houses, At heavily discounted or give away prices,
They cant afford the Marina dock fees, Is one good example,

Even international exchange rates make a big difference,
I bought when the AUD rate was higher than the USD rate,
It took $11.000-00 AUD off the price I paid for my boat, Includes GST,
Mr B is online now   Reply With Quote
Old 16-03-2020, 16:16   #10
Registered User

Join Date: Jun 2012
Location: Port Aransas, Texas
Boat: 2019 Seawind 1160 Lite
Posts: 1,531
Re: Used catamaran prices, availability during recession or crisis?

How many times have I read "oh, now owners will have to sell their boats for cheap, and we can finally get that great deal!"

I have a friend that lost his boat in a hurricane over two years ago. Still looking for that great deal. Now wasted 2+ more years of his life shopping, instead of enjoying a boat. Cruising to Bahams, etc.

As a data point, I paid cash for my boat and dont have a mortgage, or any debt for thst matter. None of my friends borrow money for boats or play toys. But you guys can always hope. I always figured that for every year I wait, it reduced my cruising time by one year. Maybe your health will bE such that you live forever.
sailjumanji is offline   Reply With Quote
Old 16-03-2020, 16:24   #11
smj
Registered User

Join Date: Nov 2007
Boat: Searunner 38 catamaran
Posts: 4,743
Re: Used catamaran prices, availability during recession or crisis?

Quote:
Originally Posted by sailjumanji View Post
How many times have I read "oh, now owners will have to sell their boats for cheap, and we can finally get that great deal!"

I have a friend that lost his boat in a hurricane over two years ago. Still looking for that great deal. Now wasted 2+ more years of his life shopping, instead of enjoying a boat. Cruising to Bahams, etc.

As a data point, I paid cash for my boat and dont have a mortgage, or any debt for thst matter. None of my friends borrow money for boats or play toys. But you guys can always hope. I always figured that for every year I wait, it reduced my cruising time by one year. Maybe your health will bE such that you live forever.


We are both lucky as I havenít made an interest payment in 31 years.
That said we got a great deal on our first Seawind as the owner was facing a foreclosure on his house and couldnít afford his boat payment. This was in 2009.
Hopefully your friend can find the boat he wants at a great price with the economic downturn.
What kind of boat is he looking for?
smj is online now   Reply With Quote
Old 16-03-2020, 16:33   #12
Registered User

Join Date: Apr 2012
Location: Winter Germany, Summer Med
Boat: Lagoon 380 S2
Posts: 1,630
Re: Used catamaran prices, availability during recession or crisis?

Problem is at least for those wanting to buy in Europe:
You can't get anywhere. Borders closed, flights cancelled, hotels closed, ... Also you can't sail in many countries. You can't even stock up in some regions. Everything is locked down.

Its not a great time to be on a boat in Europe. Personally I feel lucky that I sold mine and haven't found a new one yet


Financially:
Charter revenue will be extremely low in Europe this year as most people will actually go nowhere for the next few weeks / months. Also we will see how many people will still have the money to charter, as unemployment and debt levels will massively increase with this crisis.

By end of the season there could be a few charter boats on the market as people can't afford them anymore with every asset class being down significantly.
rabbi is offline   Reply With Quote
Old 16-03-2020, 16:43   #13
Registered User

Join Date: Mar 2013
Posts: 2,660
Re: Used catamaran prices, availability during recession or crisis?

Quote:
Originally Posted by smj View Post
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.

I wouldn't bet on that at all.

Particularly as the market has had a record run up in value.

I know from shopping for boats that a lot of people are content to pay to keep their boat in a marina before selling it for less than they think it's worth.

I doubt that has changed.

But there will likely be fewer buyers with lots of money laying around.
letsgetsailing3 is online now   Reply With Quote
Old 16-03-2020, 16:50   #14
smj
Registered User

Join Date: Nov 2007
Boat: Searunner 38 catamaran
Posts: 4,743
Re: Used catamaran prices, availability during recession or crisis?

Quote:
Originally Posted by letsgetsailing3 View Post
I wouldn't bet on that at all.


Particularly as the market has had a record run up in value.


I know from shopping for boats that a lot of people are content to pay to keep their boat in a marina before selling it for less than they think it's worth.


I doubt that has changed.


I guess the key here is think what itís worth vs. recession and actual value.
Iíve got no problem with people holding onto their boats paying slip rent, insurance and maintenance while the value steadily goes down during a recession. Their prerogative and many have done the same in the past.
As I said earlier, I purchased a cat at a good deal during a recession but also had to sell our other cat at a good deal, because I realized it was a recession.
smj is online now   Reply With Quote
Old 16-03-2020, 17:09   #15
Registered User

Join Date: Jun 2012
Location: Port Aransas, Texas
Boat: 2019 Seawind 1160 Lite
Posts: 1,531
Re: Used catamaran prices, availability during recession or crisis?

Oh, and the guys sitting there with money to buy haven't seen their available funds drop with the market?
__________________

sailjumanji is offline   Reply With Quote
Reply

Tags
catamaran, price

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Cruising and the Coming Storm ~ Recession, Depression, Climate Change, Peak Oil jtbsail Off Topic Forum 162 13-10-2015 12:17
The Ghost Fleet of the Recession - Singapore Patient General Sailing Forum 17 16-09-2009 22:02
beneteau pricing during recession virgovirtus Monohull Sailboats 6 31-03-2009 10:38
Haul-out / Bottom Paint Recession Specials? windsaloft Construction, Maintenance & Refit 0 15-03-2009 21:42
Prices! Material, Man-Hours, Local Prices (Kit-Catamaran) freetime Multihull Sailboats 8 27-08-2008 01:16

Advertise Here


All times are GMT -7. The time now is 08:20.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.