Are old boat prices dropping again?

[steve yates]

Suddenly seems to be plenty of boats for sale again, and seen a few that were lockdown/furlough purchases being put back on the market.

 

[Povremeni pomorac]

On a purely personal level, I'm pleased. I hope the market changes to a buyers one. There are a lot of AWBs out there now. I shall no doubt offend someone, but I thought the gadarene rush to buy a boat: any boat, it seemed, a few months ago was potty. Now some of these people, having rushed into it, will be "dreeing their ain wierd" as they discovere they are bored with their boat, but then can't sell it, whilst still having to pay c £600 pcm for it in a Hamble marina over the winter. I have no sympathy for them. It might turn out to be negative equity with a capital N.

 

[Tranona]

Highly unlikely anyone will end up in "negative equity" with a boat as few are bought with significant finance - lenders are well aware of potential falling values so limit loan to value ratios to avoid such a situation.

Not unusual for stock of boats for sale to rise at this time of year as sellers seek to avoid winter coasts and buyers have other things on their mind.

 

[Seven Spades]

Boat traditionally depreciate at about 8% a year in real terms, so if inflation is 4% the boat value will go down by 4%. However once inflation creeps up capital values are unlikely to continue falling so whilst in real terms the boat continues to lose value against new boats its own value may just stop depreciating all together.

 

[peteK]

There were a few in this area that bought "project" boat came a few times,and now you never see them.

 

[Wing Mark]

It's maybe 'that time of year'?
If you didn't sell your boat in October, it was probably over-priced.
So people who were 'trying the market' are now faced with keeping it until Summer. or reducing the price.

I may have paid slightly on the high side for my boat, but I have the chance to get it shipshape for next season.
If you're looking at a boat now, it will be a rush to get it surveyed and actually yours by January, then it will be tough to sort it by Easter.

I think the value of any boat varies seasonally by at least a few % and is generally uncertain by at least 10%, so small changes in the market are easily hidden by the 'noise'.

I know of a couple of boats for sale at lower prices now, having been through the offer/survey/buyer-on-his-toes process.

 

[Concerto]

If you're looking at a boat now, it will be a rush to get it surveyed and actually yours by January, then it will be tough to sort it by Easter.

When I purchased Concerto, I managed to view in early December, then surveyed 2 days later and completed within 5 days, but 2 to 3 weeks should be quite normal.

 

[AngusMcDoon]

...then surveyed 2 days later...

Have you tried booking a surveyor this year? 6 weeks wait not unusual.

 

[roblpm]

Have you tried booking a surveyor this year? 6 weeks wait not unusual.

Can you start a surveyor wait index please? This might give a good pointer to the state of the market and a better time to buy in the future!

 

[Tranona]

Not my experience at all with my recent purchase, even though my choice was limited because I wanted a wooden boat specialist. 5 days for one and 10 days for the second. Only had one turn me down for time reasons and then was booked less than 3 weeks ahead.

Depends on where you are in the country of course, but along the south coast plenty of choice at relatively short notice.

 

[Momac]

Can't say there are many boats for sale with brokers near me.

One that has been reduced to half its original asking price has gone under offer . The half price is still inflated.
I can see holidaying at home due to Covid being a thing for another year or two which will keep up the demand for boats .
Also the supply of used boats from the EU is very much limited by the VAT ad RCD requirements may well mean used boat prices remain high.

 

[Koeketiene]

Have you tried booking a surveyor this year? 6 weeks wait not unusual.

Maybe this might be a local thing?
When I was buying last year, I contacted a couple of surveyors and all could do the survey within a week - 10 days.

 

[Wing Mark]

Maybe this might be a local thing?
When I was buying last year, I contacted a couple of surveyors and all could do the survey within a week - 10 days.

This time of year, it can take a while to organise a lift out, if the boat's not ashore.
If it is ashore, it can be an issue to launch it, as it may be 'parked in' by a lot of boats!

If the survey throws up any issues, it can take time to get quotes, second opinions etc, and negotiate.
The bloke I bought my boat from is finding it takes time.
This time of year, if you have to line up a few people, the right tide and some daylight together, it can be a problem.
Sometimes plans don't happen due to it blowing a gale.

 

[oldgit]

Can't say there are many boats for sale with brokers near me.

Despite expanding my search down to a P380 and up to a P440 via the 40 or 420 . Nada .

 

[lustyd]

If the survey throws up any issues, it can take time to get quotes, second opinions etc, and negotiate

It can, but you don't have to do all of that you can just crack on and buy the boat. Personally I value my boats based on their value so don't negotiate. People doing the above will find that they've wasted time and money, and right now almost certainly lost out while someone else understood the value and made an offer.

 

[Sticky Fingers]

Despite expanding my search down to a P380 and up to a P440 via the 40 or 420 . Nada .

I thought you'd said you have a drop dead 42' limit?

 

[Simon__]

Thoughts in April? Still not a great deal of new stock to market but there seems to be many “wallflowers” as Berthon labels them. i.e. while the stock is still low, the limited number of marketed boats don’t seem to be selling.

 

[oldgit]

High Water.?
In the Mobo world still boats surfacing at very some optimistic asking prices, most not in the most wanted class and probably simply taking advantage of a shortage of stuff that people would really like to buy.

 

[steve yates]

Theres a lot of westerlys suddenly appeared for sale in the woa classifieds section.

 

[jac]

I have been looking for a while - From the search on yachtworld that I use 32 in total on the market - but looking at age of advert, boats added with :
<7 days 3
<14 days 9
<30 days 11
<60 days 15

So a lot in April so far.

That said, market still seems to be split. There are some that have been on the market for years. Others go quickly - of the 9 on for less than 14 days, 4 are under offer. The one i have seen recently, i sent an enquiry the evening it went online, got a reply next day saying already under offer. So the good ones go fast.

So be ready to move and if anyone is selling Dufour Classic 38 3 cabin layout in good condition can i have first refusal !!!!!!