Used boat values

[philld]

No, No, don't give up, what with C-19 issues its been most entertaining...

A boat is simply worth what you can get for it which if it coincides with someone actually wanting to buy it, works out well for all parties, like selling cucumbers on a stall down the market, oh dear, exposing my routes now.....;-)

Should that be roots?

 

[John100156]

Oh dear.... well after a couple of bottles of red what do you expect...levity or literacy...…?

 

[Refueler]

No, No, don't give up, what with C-19 issues its been most entertaining...

A boat is simply worth what you can get for it which if it coincides with someone actually wanting to buy it, works out well for all parties, like selling cucumbers on a stall down the market, oh dear, exposing my routes now.....;-)

Well it does make a change from Brexit linked with CV 19 !!

 

[philld]

Oh dear.... well after a couple of bottles of red what do you expect...levity or literacy...…?

I shouldn't post so late at night after finishing my bottle of red!

 

[John100156]

I just had a friend from our marina in Sant Carles saying he's going to reduce the sale price of his boat, as follows:

"I don't suppose we will find a buyer for Dolphin just now but I plan to drop the price as the stock markets are well down to invest any proceeds and with the pound/euro rate down too it may attract a local buyer."

Interesting times - now time to seek liquid sustenance I think ???

 

[Deleted User YDKXO]

Buy a boat now before your money becomes of insufficient .

I admire your optimism but every economic recession in the last 50yrs has depressed used boat values. It is possible that in a few years time, with all the cash swilling about in the global economy that govts around the world are currently injecting into their economies, that we do see an asset price boom as we saw a few years after the 2008/9 financial crash but thats only going to happen when the global economy recovers and who knows when thats going to happen

 

[jrudge]

The reality is the price will fall - there will be less money about. In the short to medium term you either dont need the money so its value is moot, or you do need the money to inject in to your business or whatever and to shift it you will probably need to make a deep discount to achieve a sale in the short term as everyone is running scared.

Does not matter what you had 2 weeks ago - property, shares, a job, a business - they are all impacted to some degree or other and unless you are in food, home delivery or medical supplies that impact is universally negative.

 

[BruceK]

With a few exceptions at the large end of the market, I've always thought of my boat as an expendable asset, a toy. I appreciate I'm bottom feeding running around in a mid 90's boat that doesn't hold much value, but isn't that the point? Everything is a sliding scale of personal means vs a depreciating asset so whatever is lost is lost comfortably. I can only surmise some people have over extended themselves to be overly concerned about a drop in value. It should all balance out. If you're loosing 30% on your sale you recuperate with 30% off your next buy. I dont really get the worry.

 

[jrudge]

Agree. That is the travesty of the housing market. Hey my house has doubled in value.

Emm. All that means is the gap for the bigger one you want to buy has doubled also. Inflation is seems is only good when it involves property !

i am happy with mine. Snag is I can’t get to it !!!

 

[Deleted User YDKXO]

With a few exceptions at the large end of the market, I've always thought of my boat as an expendable asset, a toy. I appreciate I'm bottom feeding running around in a mid 90's boat that doesn't hold much value, but isn't that the point? Everything is a sliding scale of personal means vs a depreciating asset so whatever is lost is lost comfortably. I can only surmise some people have over extended themselves to be overly concerned about a drop in value. It should all balance out. If you're loosing 30% on your sale you recuperate with 30% off your next buy. I dont really get the worry.

Well the worry is if you are forced to get out of your boat for other financial reasons, as does happen to some people, and then you are faced with crystallising the depreciation loss. And your example of taking a 30% loss on your existing boat but gaining a 30% price reduction on your new boat doesnt really hold water either because at some stage we all have to get out of boating and have to take the depreciation hit. Nobody avoids that

 

[Deleted User YDKXO]

Emm. All that means is the gap for the bigger one you want to buy has doubled also. Inflation is seems is only good when it involves property !

Hey but your kids benefit from that when you peg it (and HMRC)

 

[BruceK]

Well the worry is if you are forced to get out of your boat for other financial reasons, as does happen to some people, and then you are faced with crystallising the depreciation loss. And your example of taking a 30% loss on your existing boat but gaining a 30% price reduction on your new boat doesnt really hold water either because at some stage we all have to get out of boating and have to take the depreciation hit. Nobody avoids that

I understand that, but that is what I meant by over extending yourself. Of course we are all guilty to some extent when the man maths and must have desire grabs hold of the wallet, but my view is a boat should loosely follow the lines of a car, truck, plane etc or similar depreciating asset. When you buy you know you're going to take a depreciation hit and you buy and set expectations accordingly over the lifespan of the vehicle.

 

[oldgit]

Chum with a boat for sale is very pleased that he sold his boat, has agreed a price and the buyer still wants to proceed even considering the chaos.
The buyer has no previous boat to sell, however is funding the purchase from a house sale.
Have just heard that HMG has requested that all house completions are put on hold.

 

[Deleted User YDKXO]

I understand that, but that is what I meant by over extending yourself. Of course we are all guilty to some extent when the man maths and must have desire grabs hold of the wallet, but my view is a boat should loosely follow the lines of a car, truck, plane etc or similar depreciating asset. When you buy you know you're going to take a depreciation hit and you buy and set expectations accordingly over the lifespan of the vehicle.

Agree entirely on that. Its wise to borrow to buy an appreciating asset but its not wise to borrow to buy a depreciating one

 

[Bouba]

The majority of boat buyers are probably like the majority of house buyers, they are in a chain to buy you need to sell first so the benefit of a falling or rising market tend to balance out. New to market buyers tend to be rare in a recession

 

[AdeOlly]

No where have I said that everyone is paying the asking price, never has that been the case. But there's no question that popular model good used boats have been in short supply. As I say, that's simple fact for the reasons above (shortage of new buyers from 08 on and weakness of pound sending a lot of UK stock aboard).

Agree 100%. We’ve been looking hard for a decent sensibly priced circa 7-10yr old 27-32’ pilot house style boat since last summer. Very difficult. No less than four boats went under offer before we managed to get to see them despite us making appointments promptly once spotted with viewings twice cancelled. One boat sold within 48 hours of the broker letting me know they’d taken it on. Asking prices have been very strong. With the covid position the country is in I have given up for this season. The position may we’ll be different higher up the pecking order of size and price. I will admit that we are being picky, after 15 years boating we know what we want and need.

 

[ari]

Yup, exactly my experience, and that of many others. Brokers I've been speaking to have been tearing their hair out for lack of quality brokerage listings and stock. My boat is a very common popular model and I keep an eye on sales sites just to keep a weather eye on values (or at least asking prices). There hasn't even been one for sale in the UK for months.

I don't see that changing overly, since the stock either never existed due to depressed post 2008 sales for many years or has gone abroad never to return, but what this current situation will do to boat values of those that do exist and are for sale remains to be seen. I certainly wouldn't like to be having to sell right now (and I guess there will be people who will have to) and I guess prices will be soft.

I wouldn't like to be a broker either come to that!

 

[volvopaul]

Yesterday the Daily Telegraph reccomended people in the process of buying houses reduce their offer by up to 20%. What is the prediction for boat prices?

The brokers are going to love you !!
The reason boats have gone up is simply supply and demand , the demand over the last 3 years has outstripped supply .
The reason is that people are not buying new boats because the cost is stupidly high .
The uk builders had it really good a few years back , then with the demise of Sealine in the uk slowed it right down .
The main 3 don’t build anything that the average boater can afford to buy new , there not interested in grass root boat building anymore , well at the moment they aren’t.
Maybe after this C19 era things might change , I remember 4 years ago when I sold my Phantom 43 , I wanted a Targa 47 , there was t much about that was nice , as time went on the numbers got less but the prices went up, after a year what was left we’re projects .
Eventually I made a choice not to bother uk boating , filed my cash elsewhere for an easier working life, and put a bit more into motorsport .

i can’t see the 20% drop coming , owners are waiting to enjoy there boats though those of them that haven’t had their winter servicing , antifouling, and polish done by now will be waiting as there will be a backlog as no boats are being lifted out at the moment

i just hope that things don’t crash in the next few months .
stay safe everyone .

 

[Kola]

happy with mine. Snag is I can’t get to it !!!

+1

 

[superheat6k]

The brokers are going to love you !!
The reason boats have gone up is simply supply and demand , the demand over the last 3 years has outstripped supply .
The reason is that people are not buying new boats because the cost is stupidly high .
The uk builders had it really good a few years back , then with the demise of Sealine in the uk slowed it right down .
The main 3 don’t build anything that the average boater can afford to buy new , there not interested in grass root boat building anymore , well at the moment they aren’t.
Maybe after this C19 era things might change , I remember 4 years ago when I sold my Phantom 43 , I wanted a Targa 47 , there was t much about that was nice , as time went on the numbers got less but the prices went up, after a year what was left we’re projects .
Eventually I made a choice not to bother uk boating , filed my cash elsewhere for an easier working life, and put a bit more into motorsport .

i can’t see the 20% drop coming , owners are waiting to enjoy there boats though those of them that haven’t had their winter servicing , antifouling, and polish done by now will be waiting as there will be a backlog as no boats are being lifted out at the moment

i just hope that things don’t crash in the next few months .
stay safe everyone .

My attitiude is that we are not taking it with us, and despite the reported odds being touted by governements, this crisis is making most focus on their mortality. So the boat stays and if nothing else at least I have something to be pyred in !