"Buyer's Market" - any data to back it up?

[PalmettoSailor]

Originally Posted by sck5

I have been looking at boats lately and the brokers have said there are really two different markets - People who are selling generic production boats are more often inexperienced sailors than are those selling higher end boats...snip...

I'm not sure sailing experience has a lot to do with the market. Experienced owners/sailors are always better postioned to know what they want and to recognize a deal than less experienced folks, but in todays market the vast majority buyers are not going to be able/willing to pay what they would have last year. Everybody's buying power is less now than it was last year regardless of sailing experience.

[RandyonR3]

I think you hit the nail on the head with the life-style change..Its not the boat market falling as much as its the economy going to crap and some boat owners are selling their toys to make ends meet.
You see it every year in those in the construction industry, as in the spring when the funds are comming in, there is a boom in 4x4 trucks and speed boats and in the fall, the same people are selling the toys to make ends meet as they're out of work and the cycle goes on the next year.
As for the swap between power and sail for a savings.. I figured it out a couple years ago as my brother has a large power boat compared to our 42 foot sail boat..
Every 10 to 15 years we can figure a new set of sails and standing rigging at 25 to 30 thousand dollars. and figureing fuel cost, thats 2 thousand dollars per year for the power boat for fuel and maintance.
You can buy a-lot of fuel and do a-lot of maintance for 2k per year..

[cardiacpaul]

"You can buy a-lot of fuel and do a-lot of maintance for 2k per year"

Ummm,
on a 32ft sundancer, with twin 7.4's, (200 gal. tanks @ $4.50 a gal) that'll buy 2.5 tanks of fuel, just about enough for 3 weekends of putting around.

[jadkkd]

Just look at the financial institutions that are gettiing out of the boat lending business. Citizens Bank, and Keybank announced last Friday they are out. The process alone is going to depress the market.

[JohnRPollard]

Originally Posted by RandyonR3

...As for the swap between power and sail for a savings.. I figured it out a couple years ago as my brother has a large power boat compared to our 42 foot sail boat..
Every 10 to 15 years we can figure a new set of sails and standing rigging at 25 to 30 thousand dollars. and figureing fuel cost, thats 2 thousand dollars per year for the power boat for fuel and maintance.
You can buy a-lot of fuel and do a-lot of maintance for 2k per year..

Maybe when the fuel was <$2/gal. Most boaters were paying close to $5/gallon this past summer.

Also, a 42 footer is a fairly large sailboat, about 3X the maintenance cost of a 30 footer. For our 31 footer, I bought a new genny AND mainsail (to replace sails that were original 18+ years) for about half the cost of my B-I-L's annual (4 month season) fuel budget on a Trojan 33. He needs about $2K in fuel for a one week family vacation. Times have changed.

[ckgreenman]

Originally Posted by JohnRPollard

Maybe when the fuel was <$2/gal. Most boaters were paying close to $5/gallon this past summer.


Times have changed.

That's the truth. The most I paid this past summer for fuel was $4.50 and they were the cheapest on the lake. Almost all the fuel docks on the lake had to start selling by the half gallon since their pumps wouldn't go any higher than 3.99/gal. I wonder how long it will be before they have to start selling by the quart.

[hellosailor]

On the bright side, if you do not need a loan or are pre-qualified for a loan, and you can make your offer contingent on survey and sea trials alone (without making it contingent on financing) then you've got something extra to offer the seller, who won't have to wait and see if the deal can get past the financing.

[CaptKermie]

Originally Posted by ckgreenman

That's the truth. The most I paid this past summer for fuel was $4.50 and they were the cheapest on the lake. Almost all the fuel docks on the lake had to start selling by the half gallon since their pumps wouldn't go any higher than 3.99/gal. I wonder how long it will be before they have to start selling by the quart.

In all likelyhood the next unit of measure should be by the Litre, like most of the rest of the world.

[ckgreenman]

Originally Posted by CaptKermie

In all likelyhood the next unit of measure should be by the Litre, like most of the rest of the world.

Bwahahaha. Good one.


Actually I think I would prefer metric. As long as we don't get stuck halfway like the did in Great Britain. If you order a beer in a pub it comes in a pint. Order a Soda, and it's 330ml. Distance is measured in miles but Gas is sold in litres. And don't get me started on "stones"

[jgeissinger]

Here in Southern California, and probably in other all-year sailing locations like Florida, the major boat expense is simply the parking space. For example, slip rents in Dana Point are over $600 a month for a 35 footer, and progressively higher as the size increases. With insurance, bottom cleaning, the occasional haulout and the boat stuff that is always needed, it's a pretty big expense, even if the boat is long since paid for. Face it, this is a luxury. If it comes down to some other needed expense in these economic times, vs. the boat, guess which is going to go. There are a lot of boats of various sizes on the market in this area, and some stay on the market a very long time. Fairly frequently, some smaller (less than 30 ft.) boats are actually offered for free.