Join Date: Feb 2000
Location: Annapolis, Md
Thanked 444 Times in 374 Posts
Rep Power: 10
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.
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Curmudgeon at Large- and rhinestone in the rough, sailing my Farr 11.6 on the Chesapeake Bay