Economy's affects on used boat prices

[Yamsailor]

OK Folks, here is the question:

Will the current credit crisis change used boat prices? Opinions?

[PBzeer]

I don't think it will have a lot of effect on used sailboats. I think the largest motivator of price is how badly they want to make the sale.

[cardiacpaul]

I don't find that the "credit crunch" is the prime reason.

Almost NO under 35 ft powerboats are being sold here, new or used. Gas prices seem to be the primary concern.

SOME under 25 ft sailboats, usually under 10k are moving, hardly any 26-40 ft sailboats.

Upper end of the spectrum, same as the past couple of years, slow, but steady.

Very few, if more than a half dozen I'd be suprised of the "I'm losing everything" sales.

[hellosailor]

Wait, where'd I leave my marine-grade crystal ball? Darn, it's in the bilge again, isn't it always.

On the one hand, with money tight more folks will be selling boats. On the other hand--more folks will be buying USEd rather than new, if they are buying. On the third hand...a mess a boats just got broke up in Texas, guess where those people are going to find replacements, the folks who do replace them? Used boats again. And with credit being tighter, and folks more concerned about using their reserves, they might be aiming more for the less expensive boats too.

can't get good odds on ANYthing these days, not since Jimmy the Greek died.

[Valiente]

"The crisis" is that some incompetent CEOs might miss out on 20 million dollar golden parachutes.

Hurricanes sell more boats than this panic will.

[Drylander]

Originally Posted by Valiente

"The crisis" is that some incompetent CEOs might miss out on 20 million dollar golden parachutes.

You say "incompetence" - I say "conspiracy"!

[Yamsailor]

I see your points. Do most used boat buyers use a loan?

Seems to me if they do, most people will have difficult getting a loan. Yesterday, Keybank announced it is ending it's 50 year business in boat/Rv loans. Apparently they provided a substantial portion of the boat loan market.

My personal opinion is the future of sailing needs to be assured by getting the 40 and under crowd into affordable sailing programs like fractional ownership and community sailing.

[Yamsailor]

Analysts: KeyBank’s move could create imbalance

[tommays]

People that need to sail WILLfind a way to sail

If a loan make's money someone will make the loan , I love key bank they only sold may last loan 5 times

This nothing compared to the effect the 1973 oil embargo had on boating

[Yamsailor]

I hear you--and I hope you are right!

However, all the "experts" are saying this is going to be worse than the 1973 oil embargo. In fact all the "experts" are claiming the 1929 Crash and subsequent Depression is the only thing that will be worse than the what is coming our way over the next few years.