STOL71
Member
I would’ve thought that the inevitable recession and possible tax increases following this corona crisis will have a negative effect on boat prices.
One reason is that it would take united action from much of the world. If the UK taxes Amazon on its UK profits, there's nothing to stop Amazon moving abroad to somewhere that will cut them a good deal. Google the same. Apple just has to get its stores to buy the kit in from Apple SARL or GMBH and make no profit.
Ain't saying it's right, but it's the reality. The big international companies always have smarter tax lawyers than governments 'cos they pay more.
They were a great group; an 80's group too!
Their best was 'Too Much Pressure' and 'Missing Words' although they did plenty of other fine tunes in their day. An ace time was the 80's. ?
I hope you're right. I'm a potential buyer.There is also the bareboat rental market. Many of these boats will be on finance with most, of not all, achieving zero rental income. So many of the owners will likely need to sell them or the creditors will repossess them and sell them. That’s a lot of boats flooding into the market.
supply up + demand down = reduced prices
Knowing who does not pay their fair share has certainly changed my behaviour. I don’t use amazon or Starbucks or any big coffee shop chain. I try to shop local as much as I can
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Well done! I try to use Ebay over Amazon wherever possible. Private Eye pointed out that the founder of Amazon had donated $100m to Covid research. Sounds generous till you see that his stockholding had gone up by $28 BILLION
Harold Wilson did that, or his chancellor in fact, to cheers from the Labour benches, as Ted Heath was a keen sailor. (At that time.)It has been suggested VAT will go to 25% to pay for the crisis. Don’t know why governments don’t just windfall tax those companies that offshore their profits. Amazon, Starbucks, Google, Apple, Vodaphone.......and on and on
won’t come close to covering the cost but it would be a help
I think you're right; that's why I'm waiting and watching. "The early bird gets the worm, but the second mouse gets the cheese."Many posters on this thread have got the future position correct.
There will be far more 'clearing of the decks' and asset realisation happening, not just on the yachting arena. that lovely cottage in Brittany or Umbria will be offered up to realise capital. That treasured classic car will go under the hammer.
There will so much less distributable income available that those who can buy will be embarrassed by the bounty on offer.
Those selling will, initially, believe their asset is worth top dollar. So sales will be advertised at unattainable levels.
Two or three months on, as desperation bites,and ongoing costs continue, the light will dawn and prices will begin to fall.
Do you bite at the first seeming bargain, or hold your nerve until the price is really unrepeatable?
Don't forget. Most people who want a yacht, will already have one. So the influx of boats on the market are oversupplying the need.
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Yes, I can see that argument may be true too. Particularly in a country that has a "near miss" but, through prudent behaviour, was not badly affected.Here in NZ (not representative of the world I know ?) one respected broker tells me he is busier than ever with demand outstripping supply. His explanation is that a load of people who have harboured lifelong dreams of owning a boat have suddenly realised “it’s now or never”. He knows my Jeanneau 42DS is a clean excellent example and has a queue of people who recently missed out on buying other similar boats in the last 3-4 weeks. He reckons I would sell within a week at the same price I paid for it 2 years ago.
Certainly, here in S England, the marinas that go bust will be snapped up for posh housing developments. But, as I keep telling myself, "There's always another boat."That will be a very temporary effect. The real savings to be made will be a few months down the line. When those needing to get shut realise they are overpriced for the remaining market. It'll be a bit like a Dutch auction, knowing when to jump in, or parhaps holding your nerve.
There will probably be a fair few boatyards and small marinas on the market,for the very brave.