Good news if you are buying a boat? - SailNet Community
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post #1 of 19 Old 02-29-2012 Thread Starter
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Good news if you are buying a boat?

Talked to a friend who has been a broker for 30+ years and really knows his stuff. He said that it has been the busiest winter in several years and that boats are selling very well on the Great Lakes and Atlantic Canada - not so much in New England and Long Island Sound. Apparently sellers have reduced their prices by something like 40% from the peak and this has made the market quite hot of late. Perhaps a new normal has been discovered, at least for the eastern Canadian market. Where it goes from here who knows?

Back home on Lake Ontario after something over 36,000 nm circumnavigator. Not surprisingly there is a lot of stuff I want to get done on Ainia both cosmetically and functionally. Getting an early start so it will be ready to go for next summer (Lake Superior?).
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post #2 of 19 Old 02-29-2012
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Florida point of view here...this the first year that I've seen more boats heading *NORTH* than south. Seems like the Canadians are buying up good stock and driving it back home!

Also, Lake Sylvia has been jam packed every weekend with what appear to be cruisers waiting to make a passage. I suspect that in a year or two, the islands will be pretty crowded again vs the past 3-4 years. Bahamas are still hurting pretty bad.

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post #3 of 19 Old 03-01-2012
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It's never been a better time to buy a boat or trade up. In some categories, I am seeing less than one boat a month sell (out of thirty-plus currently on the market). Manufacturers are are weighing in with aggressive discounts and new features on their 2012 models. Some new boat prices are less now than they were 15 or 20 years ago. If you don't have to sell your yacht and can cover the operating costs, stay out of the market and go sailing. If you want to sell your boat, be prepared to offer the BEST value, not just a good value. There could be anywhere from 15 to 30 (or more) comparable boats competing for the one or two real buyers in the market.
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post #4 of 19 Old 03-01-2012
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Do you think in about a year and a half it will still be like this. That's when I plan on buying
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post #5 of 19 Old 03-01-2012
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Originally Posted by Simon_Says View Post
....Some new boat prices are less now than they were 15 or 20 years ago.......
Perhaps, but the Jeanneaus and Beneteaus that I'm familiar with are apples and oranges to about 5 or 6 years ago. You can buy a brand new 53 for almost exactly the cost of my used 54 right now (nearly the same boat). That is because Jeanneau and Bene substantially reduced the quality of everything from real teak to "manufacturered teak", brass seacocks to plastic, reduced winch sizes, etc, etc. They are still good boats. These guys didn't become the largest selling production sailboat manufacturer for nothing. They adapted to a global recession by making a less expensive product, not just selling it for less. Pretty smart, just not comparable.
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post #6 of 19 Old 03-01-2012 Thread Starter
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Originally Posted by Realm333 View Post
Do you think in about a year and a half it will still be like this. That's when I plan on buying
I think if anyone could know they would be on Wall Street cleaning up rather than here. If I had to guess I would say that prices might be similar or slightly higher, but not down or up very much.
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Back home on Lake Ontario after something over 36,000 nm circumnavigator. Not surprisingly there is a lot of stuff I want to get done on Ainia both cosmetically and functionally. Getting an early start so it will be ready to go for next summer (Lake Superior?).
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post #7 of 19 Old 03-01-2012
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@Minnewaska: This is a whole other topic for a good conversation. I agree with your statements about Beneteau. Give me an earlier, French-built Bene any day! Awesome boats, but no comparison to what they are producing today. I don't see how making a lesser quality product will help Beneteau in the long run. It dilutes their reputation and brand strength, and as you noted, hurts the resale of earlier models. When it comes to companies, bigger is not always better: Walmart and McDonald's are the biggest in their industry. That's great for them, but it doesn't make the quality of their product better for me.
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post #8 of 19 Old 03-01-2012
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@Realm333: I can't predict when the overall economy will shift. When things do begin to pick up you will see new boat prices begin to rise. This should have an affect on brokerage sales, as more people will see better value in a used boat. An in-flux of buyers in the brokerage market will do away with all the best values first. In a year and a half, if things pick up, all the cherry listings (the one's you would have loved to brag about finding) will be long gone. Wait as long as you want to buy a boat. The deals are here now. If you are planning to own it for 5-10 years anyhow, you won't regret that you purchased now.
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post #9 of 19 Old 03-01-2012
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It's good news for me.

I decided on the Catalina 25 as my next boat a few months ago and started looking at prices with the intention of sailing my C-18 for 2 more seasons.

I found one an hour away asking $4,995 and thought I'd swing by in the next few weeks to look at it (I'd never seen one in the real world); a week later it drops to $4,200 and I'm in the car driving north. Three weeks later I own it (well, under contract; closing at the end of the month). Even with the cost of moving it to the coast (no trailer) the price was very good.

I'm losing some of my comforts (no roller furling, and everything is tired) but I've got 3 times the boat.

I've already had some nibbles for the sale of my C-18.

My brother is looking for a 30' boat and expects to pay $8-12k for a decent one; he'll probably find it. With no boat to sell, he's in a really good position.
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post #10 of 19 Old 03-01-2012
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Quote:
Originally Posted by Simon_Says View Post
......It dilutes their reputation and brand strength, and as you noted, hurts the resale of earlier models......
This is very true. My boat is only 8 years old and when I'm asked what she is by passers by, all are very surprised to hear she is a Jeanneau. They have indeed diluted the brand.

When I bought her, I was actively considering a new model instead, flirting with the idea of having a warranty! There turned out to be much more value in buying this boat when only a few years old from someone who changed their mind on their plans. I got a much higher quality boat and paid less.


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Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.

Last edited by Minnewaska; 03-02-2012 at 11:05 AM. Reason: Remove last para that was responding to a diff thread
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