Prices of Used Boats

[thomsonjd]

I have been looking to buy a 37ft sailboat for the past 6 weeks. My broker tells me that prior to the terrorist activity boats were generally transfering ownership at around 85% of asking price. Has anyone got any experience / knowledge of what has happenned since September 11. What are other potential buyers intending to do? (Go in with low offers, delay purchase until next year etc.?

[aasault]

The economy and boat sales have obviously been robust over the past few years, but I sure wouldn''t delay buying a sailboat, hoping for prices to drop significantly.

After 6 months of boat shopping I recently bought my first sailboat, just before the terrorist attacks. The agreed upon price was $35,000, the asking price $40,000. I plan on keeping this boat until I retire in about 10 more years, and then buying something capable of long offshore passages.

If the economy completely tanks, maybe I could buy the same boat two years from now for $25,000. The mythical $10,000 savings spread out over ten years is beer change (I like beer), and probably won''t be much of a concern when I''m anchored in my favorite cove next month, instead of two years from now.

The "85% of asking price" theory sounds like a brokerism. Heard lots of em whilst shopping.

Art

[RobGallagher]

I have been shopping for a 30 ft sailboat for the last couple of months. It doesn''t appear to me that prices are dropping more than usual for this time of year (new england sailing season is almost over).

For me, since most of my sailboat budget is in securities, I don''t have as much to spend today as I did 3 weeks ago. I am now inclined to look at a 28 footer.

So far, I have looked at many sailboats and pricing is rarely "on an even keel". It depends on how much the current owner needs to sell the boat. For the most part, sail boats are a luxury. If you can afford one to begin with, then you are probably not in a hurry to part with the boat for less than you think it''s worth.

It can be very frustrating. I have driven an hour to look at a boat that is supposed to be in great condition. Only to get there and find it in less than "bristol" shape. Then have the owner try and talk me out of having it surveyed!!

I think the road to sailboat ownership will be a long one.

[halyardz]

Patience will prevail. At least in my case it did and came out of it with a discount of about 20+% from asking price. I was focused on two Tartan models and boat condition and accessories were two major points. In my case, I waited until mid-late summer to make
a firm move...but was willing to wait.

Once you find a boat you like, make sure the broker knows you are a serious prospect.
Remember, the broker will likely extract 10% from the final sale, not asking, price. As such most their boats artificially high. If the boat is financed, knowing the balance of the seller''s loan is handy but not always available.

The drop in the stock market will have a lag effect. The wealthy are still comparatively wealthy but the market and layoffs will hit the middle class with a sort-of lag effect.
My guess...think December to February, then start again in July...but if you find one that is fairly priced, move quickly.

Solid classic plastic boats are holding their
value and are likely to for some time...so don''t wait for those prices to significantly drop anytime soon.

[Jeff_H]

One minor disagreement with Halyardz, with all due repect, the type of folks who buy ''classic plastic'' are more often than not on a more restrictive budget and so are often harder hit by a stock turn down or tight economy. As a result, if things turn really ugly ''classic plastic'' will probably plummet in value more quickly and may get harder to sell.

Jeff

[Dogg6054]

I have been looking for a good used salt water fishing boat. I would like it to be a Cuddy from 19 to 21 feet. It needs to come with a gal. trailer and a single axle. Must be an outboard. I would like it be be from 1989 to 1998. I looking for a price range of 4000. to 8000. Prefer a walk around cuddy but it doesn''t have to be a walk around. The locations I''m looking for are: MS,La,AL,and maybe Pensacola FL area. Please help.

Thanks