benjenbav
Well-known member
I’ll need all the help I can get.@benjenbav if you fancy going to check either or both of these out I’ll be very happy to tag along…
A fall in boat prices on horizon?
- Thread starter ashtead
- Start date
wonkywinch
Well-known member
You Tuber "Chasing Latitudes" has been talking the US market down recently ..
https://m.youtube.com/@ChasingLatitudes/videos
https://m.youtube.com/@ChasingLatitudes/videos
Irish Rover
Well-known member
Another email today - 2018 JEANNEAU SUN ODYSSEY 419 | @€140,000k. Seem cheap compared to motors.
Fr J Hackett
N/A
You should take the hint and leave the dark side for the light.
Irish Rover
Well-known member
Definitely seems to be where the value is but I've no idea how to use the clothes lines or hang out the bed sheets. Then again, at least 90% of the raggies I see in the med never hang out the bedsheets.
Bouba
Well-known member
And none of them go out when it’s windy
wonkywinch
Well-known member
SaltyC
Well-known member
Is that code for Med Sailors never use their sails??? Will get my tin hat and retire.
Bouba
Well-known member
No...they put out a tiny bit of sail, just so you have to give way and they don’t have to look where they are going
Fr J Hackett
N/A
How would you know you never go out when there is any wind.
Bouba
Well-known member
Exactly...I go out when all the yotties go out
Fr J Hackett
N/A
One wouldn't want to spill the G&T would one
Simon__
Member
I’m still not seeing any downward movement (Pilothouse / deck saloons still appear to be rising). Ive been tracking a particular marque since 2021 and Nov ‘21 is the best example at the best price I’ve seen.
All I’m seeing at the moment is tired boats with old engines, rigging, and sails which are being listed for the same value good examples were in 2021. Some are even listed and appear to be selling for 10-20% more!
So much for cost of living, inflation, and COVID panic buys leading to more realistic valuations..
All I’m seeing at the moment is tired boats with old engines, rigging, and sails which are being listed for the same value good examples were in 2021. Some are even listed and appear to be selling for 10-20% more!
So much for cost of living, inflation, and COVID panic buys leading to more realistic valuations..
lustyd
Well-known member
I've seen a couple of good boats for reasonable money. Unfortunately in both instances the survey found issues the owners were unaware of so we had to back out, but the crazy asking prices have calmed in my opinion and people are accepting reasonable offers.
mrming
Well-known member
I look at a hundred or so ads a week in the price range up to £100k / €115k. Prices have softened on less fancy boats, but imo the people who own relatively modern deck saloon models do not need to sell urgently. That plus a lack of secondhand boats coming in from the EU is keeping prices fairly high in that section of the market.
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I always think that the correlation between cost of living/inflation and similar metrics to boat prices is not as strong as some commentators suggest. Frankly, if you’ve spent £200k on a boat then it’s unlikely you’re that bothered if the weekly shop increases by £50. The quality boats are often owned by silver surfers with no mortgage so interest rates increasing is generally a good thing. Boat prices are simply supply and demand. Supply is very slow and demand increases, demographic change over the next decade maybe upset that equilibrium.
RunAgroundHard
Well-known member
The largest transfer of wealth through inheritance, ever seen, is underway from the baby boomers to the Gen Xs, hence the next decade might not be as upsetting as you think.
lustyd
Well-known member
Inheritance doesn’t help most people as inheritance tax takes a huge chunk and the absolutely insane rise in house prices means the remainder isn’t usually enough for a deposit on a house let alone a boat. House prices are predicted to rise sharply as interest rates come down over the next year or two so everyone but the super rich (people whose income isn’t from working) will be much, much worse off. This is an effect of the unthinkably large gift of money given to the wealthy during Covid, which they don’t need so will buy assets when sensible to do so. Those assets will be houses for the most part.
RunAgroundHard
Well-known member
You might be right, but in the context of the next 10 years, the small number of people who may will buy boats, and the first tranche of GenXrs, I don't think the conditions that you state will restrict use of inherited wealth too much. For example, many of the first GenXrs received the workplace benefits that the baby boomers took for granted, some also survived the changes in pensions and job stability and thus have cleared debt and built good pensions. Their parents own property in many cases either through aspirational lifestyle choices or right to buy schemes. Hence, an early GenXer that has a good pension pot, owns their own home with low debt levels, inherits a modest house from their parents, might very well have sufficient cash to upgrade the boat or even buy new. Boat ownership became relatively egalitarian from the late 80s, but still predominantly a luxury activity. I still see that mix today. Not all of todays GenXers children are struggling to buy homes.
Simon__
Member
I’m not quite looking that high but I think the problem is they’re highly sought after, “last” boats for a lot of people and their reputation helps keep the prices up along with the fact people hold onto them once they have them. My problem seems to be that the models I’m seeing aren’t being maintained (or maybe upgraded is the correct word) and paying £80k+ for a 30 year old 30ish ft boat with its original engine, sails, and standing rigging seems poor value. Especially when models with these items replaced and additional windvanes & bow thrusters were available for less in late 2021. Hindsight is a wonderful thing but I wish I’d offered a bit more in 2021 for a well kitted out version but I was waiting for this elusive crash!
I think you’re right and I’ve not considered the demographic of buyers after these boats (or the fact that the modern alternatives, such as Sirius, are eye-wateringly expensive and few and far between). We still have a boat so aren’t “missing out” so to speak. But if the prices of the boats I’m after don’t soften or versions available become more appealing, I’ll have to consider an AWB instead which may be in a different market where some of these pressures will allow better value.
Anyway, I find it interesting to re-visit some of these old threads on value and see how our predictions turned out. I certainly got mine wrong post COVID.