Buying A Sailboat During Hurricane Season? - Page 2 - SailNet Community
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post #11 of 12 Old 07-09-2018
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Re: Buying A Sailboat During Hurricane Season?

I keep hearing about this so-called "buyer's market". While that may have been true a while back, I am not seeing it any more. I typically track prices on roughly a dozen different boats that represent a broad slice of the market place. I watched as prices dropped dramatically starting around 2008. But they seemed to hit a low about 2-3 years ago and begun to climb out. Not only have prices started creeping up, but some of the boats with the highest prices for their year and model seem to be selling a lot more quickly than some of the boats at the lower prices.

Over the past few years looking at the pictures, my sense is there are a lot of beat to death older boats on the market these days and those boats you almost can't give away. But when a relatively clean older boat comes on the market, they seem to sell pretty quickly and start with asking prices that seem to be maybe 50% higher than the asking prices of the rougher boats.

Since the hurricanes of the past few years, prices on these decent boats seem to have risen pretty quickly and time on the market seems to be much shorter as people seem to trying to replace the boats totaled in the storms. A broker friend of mine mentioned getting a lot more calls out of Florida than usual looking for nice condition shallower draft older boats.

So while there may be a "buyers market" on boats with negative value (it will take more money to make them serviceable than the boat could ever be sold for), the better built and maintained boats seem to be in a seller's market at the moment.

Jeff


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post #12 of 12 Old 07-09-2018
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Re: Buying A Sailboat During Hurricane Season?

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Originally Posted by Jeff_H View Post
I keep hearing about this so-called "buyer's market". While that may have been true a while back, I am not seeing it any more. I typically track prices on roughly a dozen different boats that represent a broad slice of the market place. I watched as prices dropped dramatically starting around 2008. But they seemed to hit a low about 2-3 years ago and begun to climb out. Not only have prices started creeping up, but some of the boats with the highest prices for their year and model seem to be selling a lot more quickly than some of the boats at the lower prices.

Over the past few years looking at the pictures, my sense is there are a lot of beat to death older boats on the market these days and those boats you almost can't give away. But when a relatively clean older boat comes on the market, they seem to sell pretty quickly and start with asking prices that seem to be maybe 50% higher than the asking prices of the rougher boats.

Since the hurricanes of the past few years, prices on these decent boats seem to have risen pretty quickly and time on the market seems to be much shorter as people seem to trying to replace the boats totaled in the storms. A broker friend of mine mentioned getting a lot more calls out of Florida than usual looking for nice condition shallower draft older boats.

So while there may be a "buyers market" on boats with negative value (it will take more money to make them serviceable than the boat could ever be sold for), the better built and maintained boats seem to be in a seller's market at the moment.

Jeff
I'll second Jeff's statements above, as someone who just spent over a year boat shopping for a 32-36ft boat North of the border. The boats that are flogged to death, or are even fatally damaged, are asking similar prices to the RARE well-maintained boat. The difference is the well maintained one generally won't move much in price, and why should they, all the boats beside them are broken. When we found our "holy sh$% this one was actually taken care of and NOT broken" boat we managed to nick about 12% off the asking price, and they were at the mid to upper range for that boat in the current market. We only did the offer\counter-offer round 1 time, but that was also because we didn't want the boat to slip away, especially after witnessing that the majority of the market was polluted with severely damaged boats.

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