Learning the HARD way...
Join Date: Jan 2007
Location: Boston / Ft Myers Area
Thanked 191 Times in 187 Posts
Rep Power: 11
Some of you know that I have been looking closely at a particular make and model of boat for the past 3 years. The boat is a mid to late '80s fiberglass cruiser that has been described as "the Chevy of boats." Three years ago, realistic asking prices for that boat were in the $60-70K range. There have always been between 6 to 9 of these available in YW at any given time.
One dreamer (whose boat is still for sale) was asking $97K, and there was one virtual wreck for $49K. I know of one couple that bought one of these boats for $40K, then spent +30K fixing her up, and then sailed around the Carribean for a year.
In that time I have seen asking prices come down slightly, but the number of boats available has jumped. Right now there are 14 of this model available, with asking prices from $59-89K. The dreamer that wanted $97 is now asking $88.9K, and the guy that put $30K into his $40K boat is asking $69K. I don't know whatever happened to the virtual wreck.
I lost my job in the fall of last year, but I am *still* looking, and hope to find one for less than $50K.