impossible boat market :-(

[Birdseye]

Looking for something +/- 30 ft, bilge or drop keel with sporty pretentions. Like Sadler 290 or Parker 325. Getting nowhere fast because adverts are left showing on line when boats are sold or under offer. Google produces lots of these aglomerator sites that arent up to date. Boats advertise on a Tuesday are under offer by Thursday which is no good for someone living miles away.

You would think that the heat would have gone out of the market nbow people can go abroad but that doesnt seem to be the case.

 

[Telstar26]

https://parkerseal.org.uk/for-sale/parker-325-335/lucky-devil-45-000

As far as I know, not sold yet

 

[BurnitBlue]

There are solid indications that inflation of 30% is hovering for next year. Paying for Covid, supply and demand because of manpower shortage in manufacturing and transport, profiteering etc. Boats are attractive as a hedge because they are affordable unlike houses which need solid commitment.

A person with £50,000 to £100,000 or whatever cash has a single place to spend it. Automobiles lose 10% on the forecourt. Likewise washing machines, cameras not so good, too small. Bit coin or gold or a yacht are good.

 

[Habebty]

There are people queuing up waiting for a Sadler 290 to be come available on the Sadler 290 Facebook group , where they seem to be selling within hours! Bearing in mind there are only about 50 in existence, it could be a case of “right place right time”.
Good luck with your search, it certainly is a strange market at the mo.

 

[V1701]

Friend of mine has been after a narrowboat for a while and it has been bonkers how quickly they've gone but hang on in there, I think things are slowing down a bit now - I've seen a few adverts with reduced prices coming up & as BurnitBlue says inflation is, well, inflating...

 

[Kwik Decision]

I was about to post what Habebty has said above. 290s don't get anywhere near a broker at the moment. Join the Facebook group would be my advice, but you'll need to be patient I'm afraid.

 

[slawosz]

There are solid indications that inflation of 30% is hovering for next year.

Could you give some sources please?

 

[Concerto]

Chatting with my local agent recently, he said that as soon as holidays abroad opened up again, enquiries nose dived. He doubted prices would not drop for a while, possibly several years, but boats will become more plentiful this autum and remain on the market for slightly longer than currently.

 

[Csfisher]

I wish I was in a position to buy a boat last year.

I worry that if I buy, even in a year's time when more are on the market it will drop in value almost instantly...

But I agree, it's difficult right now. I too am hoping that now COVID is hopefully starting to be behind us things will improve. Maybe everyone that bought a boat for COVID will realise it isn't really for them?

 

[Zing]

The boat market is nuts. Second hand boats 1 year old going for new prices. 3 to 4 year waiting list for many new boats. Second hand stock is down 80% compared to recent years. Older boats selling for higher prices they went for ten years earlier. Crazy.

 

[KompetentKrew]

I worry that if I buy, even in a year's time when more are on the market it will drop in value almost instantly...

You can't look at boats that way - they're not an investment.

My boat gives me joy, but don't buy a boat if you need the money for something else.

For me it's worth cutting all other "discretionary" expenses out of my life to have one, though - I don't have children, a house or a car; I eat out twice a year, and I wear supermarket clothes. I think most people would not understand.

 

[BurnitBlue]

Could you give some sources please?

Sources are everywhere. Energy and petrol prices are (right now) going through the roof in USA. Demand on consumer goods likewise outstripping supply chains. USA today UK tomorrow.

 

[lustyd]

I agree the evidence is everywhere if you’ve been paying attention. The inflation is already there, we’re just being told it’s not. Fuel prices have massively increased and many jobs have been given massive pay rises, for instance lorry drivers in some instances doubling salary. Even some NHS workers have had 4-5% increase which suggests inflation this year is at least 10%. Literally everything available for purchase is under constraint and prices rising accordingly. 3 year old cars are selling for new prices, if that doesn’t scream unprecedented inflation to you then good luck!

 

[syvictoria]

Yes, but 30%???!

 

[BurnitBlue]

Yes, but 30%???!

Look at gasoline prices at the pumps in USA. From 3$ to 4$ in the last few month. I don' know official sources based on average pump price because it varies between states and location. Chain brands, freeway, local garage etc. Governments can fudge the figures big time using selected items. It can also be fudged with QE printing money. The USA apparantly have not rurned off the printers since 2008.

Back to boats. I bought a brand new Prout Quest for £3000 from the Earls court boat show some years ago. I have seen that boat (which I sold in USA for 10,000$) is now for sale asking 26,000$. Not a bad investment considering it has been in use giving fun.

I have seen asking prices this year in Greece up at leaxt 10% and rising because the boats are being snapped up. This is end of season. Why? Because smart folk with a brain know that printing money or borrowing with bonds hax its own built in inflation albeit delayed. It wiil trickle down and quite soon. Anywzy that is the total summ of my economic knowledge. Observation and speculation so I have nothing definitive to add further.

 

[Ink]

Sources are everywhere. Energy and petrol prices are (right now) going through the roof in USA. Demand on consumer goods likewise outstripping supply chains. USA today UK tomorrow.

Rubbish. #CNN quotes the latest US inflation rate at 5.5% up from 5.4% in August.

Quote your 'sources'.

Ink

 

[jamie N]

It's a CA comment of course (& we should be careful perhaps), but the upwards pressure for wages by the 'basically skilled', or those with basic skills only, will knock on to inflation led by wages growth, as seen in the late 70's and early 80's, won't it?
However, I'm a retired ROV pilot, NOT an economist!
I can't see boat prices going through the sky though, as people don't have as much disposable income if there's great inflation, surely?

 

[Concerto]

You can't look at boats that way - they're not an investment.

My boat gives me joy, but don't buy a boat if you need the money for something else.

For me it's worth cutting all other "discretionary" expenses out of my life to have one, though - I don't have children, a house or a car; I eat out twice a year, and I wear supermarket clothes. I think most people would not understand.

Ah, you must be one of those super rich who can afford a yacht according to journalists in most media like tabloid newspapers.

 

[Tranona]

Rubbish. #CNN quotes the latest US inflation rate at 5.5% up from 5.4% in August.

Quote your 'sources'.

Ink

But that is the consequence of past economic policy decisions and past world commodity prices. The previous poster was suggesting the possible consequence of the current and future decisions which will be quite different 30% is perhaps OTT, but gone are the days of low inflation (2.5%). Challenge for governments and central banks is to control the impact of Covid and its aftermath.

 

[matt1]

Used Hunter Channel 31 for sale (Sailing Boats) | TheYachtMarket

This one has done an Atlantic circuit - no idea of condition but a great design, and quick too