Join Date: Mar 2006
Thanked 7 Times in 7 Posts
Rep Power: 12
I don't know what price range you are looking in, but for early 90's production boats 32-36' <$80k, it seems owners realize its not the time to sell and there aren't that many nice boats on the market. The boats that seem to stay listed for a while are older with higher odds of age related issues, or boats that are overpriced. The higher quality 80's boats I've looked at such as Tartans 37's, Pretorians and Sabres also seem to be languishing on the market, so I suppose you could argue that sellers expectations are not yet in line with buyers.
A couple of months ago, I made an offer well below asking price, but what I considered fair, on a nice Catalina 36 and the sellers counter left a gap that I was not willing to bridge. He's since dropped his asking price and I've advised the broker I'll slightly increase my offer and still nothing, even though I'm willing to pay within 10-12% of his asking price, which in this market I think is all one could expect.
All in all, the market in my size/price range and area (Ches. Bay) seems pretty stagnant. I see the exact same boats, at the exact same prices every time I check YW. Never-the-less, it seems few sellers are ready to cut their losses at this point. IMHO, I think its wishful thinking that they will reap more by holding on to their boats. The odds are at least even that this downturn will be deeper and longer than a lot of folks think.
Honestly, my feelings about the economy have me very close to bagging the boat idea, at least for the foreseeable future. My wife and I both love being out on the water, but not if the expense weighs too heavily on our budget.
s/v Palmetto Moon
1991 Catalina 36