Join Date: Sep 2007
Location: NE Mass
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"Buyer's Market" - any data to back it up?
It is "common knowledge" that it is now a buyer's market for new and used boats. It is often repeated here, as well as the popular press.
Does anybody have any data to back it up - plots of final sale prices, days on the market etc. Trying to get my hands around how much I might want to offer if I come across the right boat. Like anyone I don't want to pay too much now, especially if selling prices are in a free fall - better to wait (unless it is the perfect boat).
As a single data point, A Freedom 28 for sale in RI was appraised at $27 to $30K in May of 2008 as part of a survey the source being the BUC value book. I did an appraisal via BUC online today, value listed as $23.7 to $26.3K for average condition. NADA $22.5 to $25.3K, BoatUS $22.3K.
Seller is asking $29.5K. I think they are a bit out of line, while appearing to be in fine shape, she needs new sails and a new dodger and doesn't have any upgrades to speak of.