Join Date: Feb 2002
Location: Oceanside CA
Thanked 27 Times in 27 Posts
Rep Power: 16
Re: "You make your money buying the boat, not selling it."
In our search we ran across a boat that appears to have been originally listed in 2007. It looks like the same owner. The original asking price was high (no surprise there!) Then he dropped it 20% after a couple of years. Then another 5% and has stayed there since.
I don't think anything that has happened in the last 6 years is indicative of long term values. In this time people have sunk their boats to avoid paying marina fees, have had their houses foreclosed on and parked their multi-million dollar jets to avoid paying the insurance.
If you wanted to sell any asset 2007 was the time to do it. Probably 2011 was the best time to buy anything as it looks like prices are going up. I still think the prices are fairly depressed compared to long term valuation and it is still a buyers market.
West Wight Potter 14 "Lemon Drop"
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