$ vs. Euro for purchase of French Cats

[yah mon]

Originally Posted by GoingWalkabout

lets see who's right.

bouncing so far, not below par long shot
meantime got 500 k cad for 400 k usd

[Barra]

Originally Posted by Gpolar

Is the boat price in eur zone dropped too? Anyone in the eur zone now? What do they see?

The Internet price is only the listing price,so it does not tell much.



Sent from my iPhone using Cruisers Sailing Forum

I get what you mean - European boat prices denominated in EURs for newer cats are not really moving any more than they have in the past 4 years from what ive seen. Its a funny market where there is still plenty of local wealth around. Its mainly the lower middle and working classes that have been screwed in Europe. They arent your near new cat owners. Those that were owners with too much debt bailed in 2009 or soon after.

In fact im tipping price rises in EUROS of new boats due to additional demand from non EUR buyers and higher input costs. That flows onto the used market as well with less price negotiation room from sellers.

The windfall is on the USD strength EUR weakness and as just a few weeks moves shows it is volatile. Very volatile for such a major currency cross.

[sailingforfun]

At the end of the day Lagoon and all other French boat manufacturers want to sell as many boats as possible. All French manufacturers "home" currency is the Euro. As long as they receive the "right amount" of Euros they should be indifferent to where the dollar goes. If anything they should be delighted with a rising dollars because it will generate sales they otherwise wouldn't get. Sales generated by a strong dollar.

Reading this thread, it's obvious a lot of people are getting off the fence and buying NOW, because of the currency discount. That includes me too.

[GoingWalkabout]

Originally Posted by yah mon

bouncing so far, not below par long shot
meantime got 500 k cad for 400 k usd

[yah mon]

Originally Posted by Going Walkabout

tough to decide to pull the trigger when 1 cent equals 1000 dollars. seen the canadian worse but at the same token i don't have that much faith in the usd.

[GoingWalkabout]

It all depends on your appetite for risk. At these levels buying a Euro boat has never been better for those with $US. We could see another Euro plunge based on Greece and the general revaluation of the Euro. Or we could see a Euro strengthening. When you have a sideways move anything can happen up or down. My bet long term is an even lower Euro but currency moves can happen "san" logic.

Their is an old saying on Wall Street that pigs get slaughtered. It's good advise not to get too greedy and when you made a pretty sum take your profit and run.

[sailingabroad]

Originally Posted by leftbrainstuff

The banks will screw you on foreign currency transactions.

We use ozforex. Very cheap rates. We've been using them for years. They easily connect with your in country bank and foreign country account. Very personal service too.



Sent from my SM-N900T using Cruisers Sailing Forum mobile app

Thanks informing members of the massive savings people get by using OzForex when they require to make payments abroad.

I work for OzForex and I'm happy to answer any questions regarding international transfers. We help thousands of individual buy yachts from overseas and pay international bills each year.

Looking forward to learn more about the yachting industry and the solving hurdles people have to overcome with regards to international purchases.

Regards,

Ed

[sailingforfun]

Monte turned me onto Ozforex. I'm US dollar based so I was directed to their US sister company USforex.

International Bank Transfer - The Safe Online Way to Make Bank Transfers | USForex

Great rates and great service. 3 days from the time you send them your dollars until Euros hit the vendors account.

[monte]

Well I'm about to make an ozforex transaction to pay my insurance in euros. Maybe I qualify for a special rate for spreading the word

[sailingforfun]

I would second that Monte. I've told a half dozen people locally myself.

[sailingabroad]

Yes any CruisersForum members are welcome to two Fee Free Transfers.

Please email me for further information on edwardwileyatozforex.com.au just replace the at with the @ sign, as my last post had to be verified by a mod for having an email address.

I am happy to see what I can do with regards rate, Monte and Sailingforfun.

More than happy to assit and talk boating as a keen boater myself.

Regards,

Ed

[valhalla360]

WOOHOO!!!!

Took advantage of the Euro situation. (at least once all the paperwork and the wire transfer clears)

Back a few years when the Euro was runing upwards of $1.60, the list price would have worked out to $56k but between negotiating the price down a bit and the drop in the Euro, it worked out to $28k.

On top of that the marina is very reasonable working out to around $300/month for a nice marina with pool and all the amenities.

[lamadriver]

WOW.

Crazy relevant.

I signed a purchase agreement last week for a boat in Cape Town. I needed to transfer the deposit and was shocked when I saw my banks difference between the spot rate and what they were going to charge me.


We are talking 5% + of my purchase price.. all said and done if i transferred the purchase money using my bank.

I tired to open an account with oz Forex's competitor, got transferred to a call center, struggled with a non english speaker and gave up. I made the deposit transfer and took the hit. I immedaitly started researching other currency traders to use for the purchase.and stumbled across OZ forex/ US forex.

My accounts are in the US, my plan was to call the us tonight (im in Asia working).

Stoked to hear OZForex has worked well for others here.

LD

*** side note*** while there is value in Europe a the moment there is also incredible value in South Africa with the US>ZAR.. i never thought id buy a boat in South Africa, and even with the logistics and the cost of delivery I got a hell of a deal *****

sailingabroad- please look for a PM form me.

[EllisElectric]

I'm trying to understand how a person determines whether they are or aren't getting a reduced price by taking into account the Eur/Usd difference. Can someone draw a picture showing a specific scenario such as a St.Francis 50 cat when the Eur was higher to present day price? Or any other example would be fine, just make it plain and simple. thanks

[valhalla360]

Originally Posted by EllisElectric

I'm trying to understand how a person determines whether they are or aren't getting a reduced price by taking into account the Eur/Usd difference. Can someone draw a picture showing a specific scenario such as a St.Francis 50 cat when the Eur was higher to present day price? Or any other example would be fine, just make it plain and simple. thanks

Obviously, you need to know the going rate for a boat and if it is ultimately a good deal. Half off a boat priced 4 times the value, isn't a good deal.

In our case, I had been following the prices and the $56k was pretty close to the going rate. We did negotiate a pretty good deal but even we paid the list price it would have taken the price down to about $40k. (of course that's comparing to the euro peak of around $1.60).