Market Maddness... - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > General Interest Forums > Boat Review and Purchase Forum
 Not a Member? 


Reply
 
LinkBack Thread Tools
  #1  
Old 04-25-2011
F15EWSO's Avatar
Senior Member
 
Join Date: Feb 2011
Location: Going to SW Florida
Posts: 102
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 4
F15EWSO is on a distinguished road
Market Maddness...

I am looking to buy a boat and recent trips have turned up what were once nice boats when placed in the ads are now boats languishing on the hard or at the dock receiving little to no attention.

With the market being flat apparently these boats are spending lots of time sitting and waiting.

I have this theory that boats go on the market 2-3 years after the current owners are no longer using the boat very much, generally different interests, getting older, suspect there is a laundry list of reasons. Regardless, the boat sits 2-3 yrs with little use, a decision is then made to put the boat on the market and add another year or two waiting and you have some nice photos taken when some "cleaning" was done and now the boat is not looking so sharp.

I have a figure in my head for the price and size we want, I also have money set aside for the "other stuff" that is needed when buying a used boat. The problem is the price being asked and quality of the boat and equipments offered is pretty far from reality of what the ads show based on the inevitable march of time.......

The other part of this is the current owner is lowering the price in the dead market, paying bills and fees and seeing the value of the boat decrease due to age, neglect and enter a death spiral of "No sale".

Have any other buyers seen this trend? Is this a by product of the current market? Is this common based on my notional scenario? Or in summary am I full of shyte?

Thoughts?
__________________
F15E_WSO + 1
Deale Md, to Caribbean Oct 2012-Aug 2013
Boat Type Irwin 43 Mk III Center Cockpit--Sold it
Boat Yr, 1989
Boat Length 43'

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #2  
Old 04-25-2011
LandLocked66c's Avatar
Sunsets and Warm Beer....
 
Join Date: Dec 2009
Location: The Bottom of a Pint Glass...
Posts: 2,111
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 5
LandLocked66c is on a distinguished road
I think you are right on, especially at this time with the economy.
__________________
1971 23' Oday Pop Top
S/V Frida

You can't steer a boat that isn't moving? Just like a life - P. Lutus
Reply With Quote Share with Facebook
  #3  
Old 04-25-2011
bljones's Avatar
Senior Member
 
Join Date: Oct 2008
Location: South Coast Ontario
Posts: 8,066
Thanks: 31
Thanked 68 Times in 61 Posts
Rep Power: 7
bljones has a spectacular aura about bljones has a spectacular aura about
Trying to explain to a seller that his pride and joy is not really worth what he/she thinks it is worth can be a tough row to hoe.
Whizz, the best way to get a deal when buying a boat is to get proactive, rather than reactive. Instead of reacting to boats that you see advertised, place some ads yourself:
"New sailor with CASH looking for cruising sailboat, up to 36 ft in length, with four or more berths, enclosed head and diesel inboard." or similar. You will get responses from people who haven't even put their boats on the market yet, children who want to off-load dad's old boat etc., and because the price has not been set, you have the ability to gently show them reality.
Additionally, look at retaining a buyer's broker. Get some referrals, and talk to the guy who is referred most often. Explain to him what you want, what you are willing to spend, that you are serious and that you want the right boat, right now. It will also save you a ton of time talking to different brokers in different places.
__________________
It's 5 o'clock somewhere:


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #4  
Old 04-26-2011
GeorgeDog's Avatar
Chesapeake Sailor
 
Join Date: Mar 2010
Location: Baltimore, MD
Posts: 158
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 5
GeorgeDog is on a distinguished road
One year ago I was in your position and experienced exactly the same problems. I traveled throughout New England and in most cases the boats were junk compared to their YachtWorld images and descriptions. Perhaps “aged” is a more polite way to say that. My advice is to be very skeptical of any boat that has been listed more than a few weeks or a couple of months.

If you are internet savvy I would not use a buyer’s broker. My search went much better once I started contacting listing brokers directly as they are very interested in selling you the boat themselves because they don’t have to split the commission.

Be prepared to move on a new listing quickly if the boat is in great shape as they sell quickly. Always get a survey.

I think the idea of posting a proactive “buyers” ad on area Craigslists and such is a great one. Last year I was so frustrated I wanted to create a YachtBuyersWorld for just that purpose. What class/type/era boat are you looking for?

Chris
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
1968 Hinckley Pilot 35, Audra.
(c) Joe McCary.
Reply With Quote Share with Facebook
  #5  
Old 04-26-2011
Senior Member
 
Join Date: Feb 2011
Location: San Francisco Bay area
Posts: 1,944
Thanks: 0
Thanked 22 Times in 22 Posts
Rep Power: 4
MarkSF is on a distinguished road
Going straight to a good sellers broker worked well for me too.

Be patient as the well-cared for boats are out there. The previous owner of my boat had the engine serviced AFTER I'd put an offer in - he really looked after the boat and continued to do so even after it was put up for sale.

When you find the right boat, then is the time NOT to be patient. Put an offer in quickly as the good ones do seem to be selling very rapidly even (I hate this term) "in this economy"

The phenomenon where something starts overpriced, and then the price is lowered too slowly, resulting in no sale, is not confined to boats. It is very common in the housing market right now. Unrealistic expectations based on what something USED to be worth.
Reply With Quote Share with Facebook
  #6  
Old 04-26-2011
Tim R.'s Avatar
Senior Member
 
Join Date: Mar 2003
Location: Portland, Maine
Posts: 1,513
Thanks: 1
Thanked 26 Times in 25 Posts
Rep Power: 12
Tim R. is on a distinguished road
I have seen this trend for the at least the last 10 years. It is just more pronounced now and seems to be affecting more boats as they sit longer.

The last boat I bought off YW sold in less than a week. Seller needed money for 3 kids in college and decided to sell in May and accepted my offer 6 days later.

All of my boats have sold through private markets. All have been restored and in much better condition then when I bought them. Each one was sold as a consequence of an upgrade. Never because I stopped using them. None of them sat on the market for more than 2 weeks and all sold above the average market value. The most recent being one year ago in this "soft" market. The last boat I bought was through a private deal. Much better for knowledgeable buyers and sellers.

I believe that some of the best boats never get to YW. Ask around the yacht clubs and marinas in your area. You may find a very nice boat that has not yet had the chance to deteriorate from neglect.
__________________
Tim R.
Living aboard in Portland, Maine
1997 Caliber 40LRC

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

-----------------------------------------------------

Last edited by Tim R.; 04-26-2011 at 03:47 PM.
Reply With Quote Share with Facebook
  #7  
Old 04-26-2011
F15EWSO's Avatar
Senior Member
 
Join Date: Feb 2011
Location: Going to SW Florida
Posts: 102
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 4
F15EWSO is on a distinguished road
interesting feedback

Thanks to all for the insight,
nothing here that I am too surprised at. I do have the option of time right now, can go another 12 months before I "need" the boat. I'm trying to get a feel for the ebb and flow and from what I am reading is the good ones go fast, the overpriced ones just sit and make the search a cluttered mess. I'll keep my eyes peeled and continue to evaluate. Every month I don't own a boat between now and summer I save $1,000 (money I can put to the price or upgrades).

I'll keep in mind the more aggressive/proactive approach for when I have more urgency and time.

Cheers
__________________
F15E_WSO + 1
Deale Md, to Caribbean Oct 2012-Aug 2013
Boat Type Irwin 43 Mk III Center Cockpit--Sold it
Boat Yr, 1989
Boat Length 43'

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #8  
Old 04-27-2011
BarryL's Avatar
Senior Member
 
Join Date: Aug 2003
Location: Long Island, NY
Posts: 1,536
Thanks: 3
Thanked 17 Times in 16 Posts
Rep Power: 11
BarryL is on a distinguished road
Hello,

About how much $ are you looking to spend. In my experience, if you are looking to spend under 10K most brokers don't want to deal with you and you will most likely deal with owners directly. And dealing with owners is always a crap shoot. Some are realistic, many are just crazy. If you do deal with brokers, finding a good one is the most important thing. A good broker won't waste your or his time, will know the boats he represents, and can accurately state the condition of them. A bad broker won't be able to find half the boats he represents, and won't have any idea of condition.

Good luck,
Barry
__________________
Barry Lenoble
Day To Remember, 1986 O'day 35 For Sale
Deep Blue C, 2002 C&C 110 For Sail
Mt. Sinai, NY

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #9  
Old 04-27-2011
F15EWSO's Avatar
Senior Member
 
Join Date: Feb 2011
Location: Going to SW Florida
Posts: 102
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 4
F15EWSO is on a distinguished road
Quote:
Originally Posted by BarryL View Post
Hello,

About how much $ are you looking to spend. In my experience, if you are looking to spend under 10K most brokers don't want to deal with you and you will most likely deal with owners directly. And dealing with owners is always a crap shoot. Some are realistic, many are just crazy. If you do deal with brokers, finding a good one is the most important thing. A good broker won't waste your or his time, will know the boats he represents, and can accurately state the condition of them. A bad broker won't be able to find half the boats he represents, and won't have any idea of condition.

Good luck,
Barry

Barry,
hoping to keep the entire thing under $100k; for example buy/finance $80K boat and keep the "extras" and repairs and other incidentals to under $20K. Of course if I find the right boat for $75K for lock, stock and barrel then even better. I have a broker, he seems quite knowledgeable and understands our goals. My frustration, if that's the right word, is about the load of less than sterling boats on the market. I have plenty of time I guess, just thought this would be a might easier.
__________________
F15E_WSO + 1
Deale Md, to Caribbean Oct 2012-Aug 2013
Boat Type Irwin 43 Mk III Center Cockpit--Sold it
Boat Yr, 1989
Boat Length 43'

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #10  
Old 04-28-2011
Member
 
Join Date: Jul 2007
Posts: 30
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
Parclan is on a distinguished road
Just sold our `99 36' sailboat "in this market" with little fuss, really. Had a good broker, who had a good buyer looking for a well cared for boat, and we priced it at the upper middle of the price range for this boat. My son is about to buy a boat, has done some traveling to see what was advertised, and has had only positive experiences. But he has, as I did when I went 750 miles to see the boat I bought, insisted the seller or seller's broker e-mail him current pics - like taken in the past week - or he would not travel to see the boat.
Reply With Quote Share with Facebook
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
in the market bhouse8 Introduce Yourself 1 11-02-2009 10:27 AM
After market AC NorfolkSailor Gear & Maintenance 9 05-11-2007 12:27 PM
Market for sails? Shaggydog General Discussion (sailing related) 6 01-12-2007 06:46 PM
How far is too far, or When to look outside your market brodgers Boat Review and Purchase Forum 5 08-26-2006 07:43 AM


All times are GMT -4. The time now is 06:31 AM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012