"Buyer's Market" - any data to back it up? - Page 4 - SailNet Community
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post #31 of 87 Old 10-02-2008
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Soundings today reported that many boats are in foreclosure (power and sail) and banks are offering them at 15% below BUC/Nada value thereby depressing all values. This may be more of an issue with power boats but it is the first hard evidence that there is some decline in selling prices that I have seen.

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post #32 of 87 Old 10-02-2008
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this may or may not apply...
You might want to call the "American Bank of Texas".
They're VERY boat loan friendly as I remember.
Lacy Harbor, a "good ol' boy" is central to the operations, (as well as oil/gas equipment, airplane stuff & lord knows what else) and he owns a great big-o pile of docks at at least 8 marinas in Texas and Oklahoma.

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post #33 of 87 Old 10-02-2008
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Cam,
went to an auction last Sat. AM. 3 midsize generic powerboats between 30 and 35 ft, no condition, none went over 15k. One "Prairie" 32 ft sailboat, no sails, rough shape, 8500.00 (over 8k in slip fees due)

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post #34 of 87 Old 08-05-2012
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Re: "Buyer's Market" - any data to back it up?

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Originally Posted by hazmat17 View Post
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.
Those price guide books are and can not be good guides because there is not a large enough or transparent enough market.

Guide books don't write checks... buyers do.



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post #35 of 87 Old 08-05-2012
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Re: "Buyer's Market" - any data to back it up?

Guess I should have looked at the date of the posting... regardless my point stands.



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post #36 of 87 Old 08-05-2012
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Re: "Buyer's Market" - any data to back it up?

Good time to update:

All indicators suggest that well kept used boats are selling exceedingly well these days. Poorly kept boats still languish.
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post #37 of 87 Old 08-05-2012
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Re: "Buyer's Market" - any data to back it up?

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Good time to update:

All indicators suggest that well kept used boats are selling exceedingly well these days. Poorly kept boats still languish.
I concur that well kept will sell, but not sure if $$$ are there. It may simply be that because there is such a large inventory out there, buyers will naturally gravitate to the well kept one. It doesn't make them more valuable, it makes them more saleable, if that makes any sense.



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post #38 of 87 Old 08-05-2012
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Re: "Buyer's Market" - any data to back it up?

Prices appear to be firming

The last 2 brokerage boats in the Harbor Daysailer line sold for fat numbers.
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post #39 of 87 Old 08-06-2012
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Re: "Buyer's Market" - any data to back it up?

Still looks like a buyers market here in Florida. Even the well-kept boats that are selling seem to be going for quite a bit less than they would have 5 or 6 years ago.
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post #40 of 87 Old 08-06-2012
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Re: "Buyer's Market" - any data to back it up?

Don, five or six years ago would be 2006-2007, when things were still booming and before the 2008 crash.

No surprise that the price of anything big would have dropped as folks have gone broke.

Except of course, groceries. Which often seem to have DOUBLED since the crash.
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