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Old 07-02-2021, 21:01   #1
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Covid and Sailboat Prices

Has anyone seen sailboat prices drop, plummet, or otherwise fall off a cliff?
I see Bluewater sailboats holding their price, I think,,, but I wonder if the sailing community as a whole is becoming victim to hurricane CoVid? What's it like out there?
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Old 07-02-2021, 21:12   #2
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Re: Covid and Sailboat Prices

The biggest problem for me is the location of potential boats.
Travel restrictions make it almost impossible to travel to find 'deals'.
The only boats I can buy must be located in the east part of Canada...
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Old 07-02-2021, 21:20   #3
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Re: Covid and Sailboat Prices

There's been several threads on this, and no, good boats have actually increased in price. If any, it's the older beat-up boats that you might find at fire-sale prices.

The truth is that the people who could afford decent boats are also likely to have not been seriously hurt by the pandemic or closures. They (ok, who am I kidding... WE) have not been ruined financially by the past year, so no need to dump their our boats for fast cash. And many of us have taken early retirement, or decided that it's better to buy our dream boat and enjoy life now, rather than waiting. So that's made for a seller's market.

Same thing's happened to vacation property sales. People are coughing up for their dream now.
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Old 07-02-2021, 22:05   #4
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Re: Covid and Sailboat Prices

Prices are up quite a bit in PNW
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Old 08-02-2021, 09:21   #5
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Re: Covid and Sailboat Prices

Ditto MikeHoncho!!

Have not seen sailboat prices drop due to Covid in the San Francisco Bay and California Delta. One local boat broker told me 2020 boat sales in 2020 was at a 10 year high. But you can still get a good deal on a sailboat that has been sitting for sale for some time due poor condition, if you are qilling to spend some money to fix it up. As an example, I just purchased a 44 ft sundeck power boat that was listed for $99,000 last spring for $61,000 since it needed to be cleaned up and deferred maintenance performed.
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Old 08-02-2021, 09:36   #6
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Re: Covid and Sailboat Prices

I’m expecting that when some semblance of Normal returns, those not so committed recent buyers will be selling. And likely at a reduced price. I’m waiting for that.
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Old 08-02-2021, 09:41   #7
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Re: Covid and Sailboat Prices

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Originally Posted by chasmains View Post
Iím expecting that when some semblance of Normal returns, those not so committed recent buyers will be selling. And likely at a reduced price. Iím waiting for that.
Why wait???............being on a boat is one of the safest activities during Covid.
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Old 08-02-2021, 09:51   #8
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Re: Covid and Sailboat Prices

Just got off the phone with a broker after seeing a new listing we are very interested in. We have a lock down in Ontario, Canada and we are 20th on the list to see the boat when lockdown comes off. I asked the borker if we can give him our spec's for our desired boat and he could give us a heads up when one is coming up... His reply , "in this market there are 200 people wanting the same thing and there is no way to guarantee I'd get back to you, best just to watch the adds on our web site." Definitely a sellers market and it would be like winning the lottery to actually be able to put in an offer on a boat before its gone.
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Old 08-02-2021, 10:04   #9
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Re: Covid and Sailboat Prices

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I’m expecting that when some semblance of Normal returns, those not so committed recent buyers will be selling. And likely at a reduced price. I’m waiting for that.

Don't hold your breath, please. This past year has brought permanent changes in how we live and work:
  • more people working from home, so able to relocate, and to spend more time on recreation
  • more people waking up to the fact that life is short and fragile, so live your dream NOW, don't wait
  • Also, the supply of good used boats is dwindling (good used boats eventually become decrepit old boats, and finally landfill or artificial reefs), and there's not enough rich folks priming the supply with new boat purchases
So, no I don't expect a serious buyers market for good used boats any time soon.
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Old 08-02-2021, 10:50   #10
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Re: Covid and Sailboat Prices

I work for a online brokerage company and since last March every month since has been a record month for sales. Even boats that have been listed and neglected for years are selling. Now the ones with barnacles living on the hull are not selling that fast.
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Old 08-02-2021, 10:58   #11
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Re: Covid and Sailboat Prices

Anecdotally, last spring I went from being a long-time racing crewmember to buying a boat with a friend so that I wouldn't have to sit on the dock all season.

During the search process, I was very aware that given my relatively tiny budget and search radius, I might be competing with other first-time boat buyers in similar circumstances. I think we still got a fair price in June 2020 without much competition, but I haven't researched or considered how that has changed since.

I think every market has such different factors affecting price, that there isn't a major trend. Clearly, Ontario is being affected in one direction, and I'm sure you can find a deal if you hunt through off the beaten path locales, but I wouldn't predict a clear trend that would be worth delaying buying a boat.

"You can maybe save 10% if you spend the next three months at home instead of on your new boat" No thanks.
If you already have a boat, and just want to keep you eyes open for a deal, then great.
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Old 08-02-2021, 11:00   #12
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Re: Covid and Sailboat Prices

Prices are definitely up. I bought in June 2019 and the price of same make and model boats are now higher even though they are now older.
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Old 08-02-2021, 11:04   #13
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Re: Covid and Sailboat Prices

Quote:
Originally Posted by Lake-Effect View Post
Don't hold your breath, please. This past year has brought permanent changes in how we live and work:
  • more people working from home, so able to relocate, and to spend more time on recreation
  • more people waking up to the fact that life is short and fragile, so live your dream NOW, don't wait
  • Also, the supply of good used boats is dwindling (good used boats eventually become decrepit old boats, and finally landfill or artificial reefs), and there's not enough rich folks priming the supply with new boat purchases
So, no I don't expect a serious buyers market for good used boats any time soon.
Wow, I just saw in the news today that Greece is looking at offering a special Visa to Digital Nomads. They want to invite these folks to Greece. People who bring technical knowledge and taxable income. So yep boats will be increasing in cost, perhaps not value, but prices are likely to rise as the market changes.
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Old 08-02-2021, 11:04   #14
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Re: Covid and Sailboat Prices

I heard a lot of boats sold to first time buyers... so hopefully they'll sell again in a few years time. But far from guaranteed that prices drop of course.
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Old 08-02-2021, 12:04   #15
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Re: Covid and Sailboat Prices

I was sitting on my boat recently getting it ready to sail up the coast and a gentleman walked down the wharf..... I was tied up to a public one, and bought it on the spot. Transfered to funds on the spot into my account. No survey, nothing. I loved that boat but he had a good story as to why he wanted it. I'm now driving up to Brisbane to look at another one as I have sellers remorse. First time without a boat for 35 years.
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