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post #83 of Old 09-23-2012
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Re: "Buyer's Market" - any data to back it up?

Originally Posted by TomandKarens34 View Post
After reading my posts, I have to confront the fact that I am working from a bottom feeder's point of view. The prices of new, or even newish boats are SO far over my price target, that my perspective has been skewed. I would like to frame my posts as pricing on boats over 10 years old and 38 to 43 feet long.
I'm not sure I understand - you were looking at an Irwin for $75-100k, which is hardly "bottom feeder" material. What is your price range for a 38-43 foot boat? And if you are on a tight budget, traveling to Florida to seek out bargains could be a costly mistake if those boats are not up to an ocean passage. Would you trust a "bottom feeder" boat with your life? (Or were you planning to ship it, which could cost more than a "bottom feeder boat.")

Originally Posted by TomandKarens34 View Post
...That said, the tide lifts and drops all the boats, so with a grain of salt, my comments might still be useful.
What you say is literally true as it relates to tidal waters. However, if you are attempting a metaphor for market conditions, I would beg to differ. A lot of the "bottom feeder" boats can now be had for free - a 100% drop in price. But well cared for boats have dropped, but by much less. There is no single percentage number that can describe the price change of vastly different boats in this economy.

If you are truly a "bottom feeder," you need to be very careful to budget adequate money for repairs and maintenance. Purchase price is just the admission fee to play the game. Often (usually) the bigger, cheaper boat will cost much more in repairs and maintenance. Once again, maintenance costs cannot be calculated as a percentage of purchase price, because a more expensive boat that's in better condition will likely cost less to repair and maintain than a similar cheaper boat, at least for the first 5 years of ownership.

Rick S., Swarthmore, PA
USCG Certified Captain, 50 Ton Master and OUPV
ASA Certified 101/103/104/105/106

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2001 Catalina 34MkII Tall Rig Breakin' Away, Universal Diesel M35B, Mantus 35 lb. anchor, sailing out of Rock Hall Landing Marina
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