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Niagara 35 market values

I just want to express my disappointment with the drop in value of the used boat market.In particular the Niagara 35's.Does anyone feel the same? Is it the brokers telling the owners what they can sell for? I hope not.
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post #2 of 9 Old 06-05-2015
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Re: Niagara 35 market values

LM.. I've moved your post into it's own thread.. the other thread title was not appropriate and it was years old.

Used boat values do seem to be dropping, it looks like there's a bit of a 'cliff' these days once you're into boats older than 1990 or so. Comparing a 1985 boat to a similar 1995 boat is often a near twofold difference in 'value'.

I doubt it's a broker driven issue, that's not logical, but more a glut of decent, used boats partly as a result of somewhat stronger new boat sales, and the apparent longevity of the older boats. Anytime you have such a buyer's market prices suffer.

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Re: Niagara 35 market values

Thanks for your comment.I wanted to know who sets the price? When you go to a broker the first responce is to go to Yacht world and bring up what the selling price was in the last say 10 years. So owners are guided by the selling price of previous sellers creating a downward trend.This is not representative in my opinion of their true value.Certainly not ours.Luckily we don't have to sell and are still sailing.If everyone would hold firm at a fair price we could correct this injustice.
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Re: Niagara 35 market values

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Originally Posted by lenoramarie View Post
Thanks for your comment.I wanted to know who sets the price? When you go to a broker the first responce is to go to Yacht world and bring up what the selling price was in the last say 10 years. So owners are guided by the selling price of previous sellers creating a downward trend.This is not representative in my opinion of their true value.Certainly not ours.Luckily we don't have to sell and are still sailing.If everyone would hold firm at a fair price we could correct this injustice.
Ahh.. in a perfect world, yes. Sadly many sellers are often desperate, or motivated or under some other form of pressure.

Anyone who has an especially pristine example of a particular model may well eventually get top dollar but that requires patience and a serendipitous meeting of the seller and 'that discerning' buyer who knows what they want and recognizes the value of a turnkey boat. And even that person is going to be aware of market history and perhaps unwilling to go for a full true value offer.

I suspect we all have a somewhat unrealistic idea of our boat's value.. until you actually have to/try to sell. Not that different from cars, actually....

Ron

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Re: Niagara 35 market values

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Ahh.. in a perfect world, yes. Sadly many sellers are often desperate, or motivated or under some other form of pressure.

Anyone who has an especially pristine example of a particular model may well eventually get top dollar but that requires patience and a serendipitous meeting of the seller and 'that discerning' buyer who knows what they want and recognizes the value of a turnkey boat. And even that person is going to be aware of market history and perhaps unwilling to go for a full true value offer.

I suspect we all have a somewhat unrealistic idea of our boat's value.. until you actually have to/try to sell. Not that different from cars, actually....
Or houses. Or anything else you value more than the market does. The market is the market. There are several other threads about this here (that usually devolve into pseudopolitics or thinly veiled politics), but they all come down to: If you want to sell, and others are selling at X, you can only be so far from X or no one will buy. The internet is helping to drive things down as well, as there used to be a more 'local' market that is getting eaten away by the availability of more national pricing.
It is what it is, unfortunately. Which is, incidentally why I (and others) would NEVER buy a new boat (or car) as the original owner takes the massive lion's share of the depreciation.

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post #6 of 9 Old 06-05-2015
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Re: Niagara 35 market values

With older boats, its much to do with ability to get FINANCING. For boats over 20 years, its *HARD* to get financing. For boats over 30 years, that goes from hard to *IMPOSSIBLE*. So without the liquidity of credit (and lets be honest, its people that cant afford the boat that buy the boat), you're left with cash buyers only. Couple that with the fact that older bluewater boats are now going to need SERIOUS capital infusion to stay bluewater worthy (new engine, new stnading rigging, likely paint, new bimini/dodger, and of course the consumables like running rigging and sails), you further deplete the available consumer.

Unfortunately, unlike classic or vintage cars, there's just not a "concours' market for sailboats. I dont think there ever will be to be honest. I do see in the RV space, people flocking to vintage rides like airstreams and dodge travcos. But its just not there for the bread/butter of the sailboat market from 30-40 years ago. Sure, Hinkleys get all the eyes from years past and may even appreciate. But not likely a middle market boat like NIagara.

So whats likely to happen is these boats will successively go from owner to owner...the subsequent one more cheap or broke than the prior. I foresee many of them sitting in mooring fields, sinking or even meeting the chainsaw in the future. However, a few pearls and well taken care of boats will survive. Maybe the market will suddenly look favorably on their design aesthetic and they may even tick up in value. For a Niagara 35, however, I'm not holding my breath.

Its not right, its not wrong.... it just *is* this way.

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post #7 of 9 Old 06-06-2015
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Re: Niagara 35 market values

The value of a boat is set by the market not the seller. It is mostly about supply and demand. They have been making fiberglass boats for a but over 60 years now and most are still floating. So there are more boats than ever but fewer sailors so that sets the price. Just think if say 80% of all cars made in the last 60 years were still in good shape and ran like new yet their were fewer drivers. Cars would not be worth much right? That is basically what has happened to the boat market. Basic economics.

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Re: Niagara 35 market values

Demographics may have a lot to do with prices. With so many baby boomers getting older, and putting their boat on the market, with no need of a huge price, vs the need to eliminate her as an expense, the used boat market is flooded.
The best way to avoid a huge loss, is by not spending too much on a boat in the first place. That also increases the number of potential buyers who can buy her without the need for bank financing.
Keep it simple!

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Re: Niagara 35 market values

Mid market boats seem to be hurt more unless they have something unique like the Nonesuch though they seem to not be moving quickly so perhaps there values have gone down more than many owners are willing to admit. (at least the ones I have seen listed have been listed for years) High end boats seem to still be doing well. And their is always a market for the big production boats, but at a much lower price.
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