Boat Market

[Irish Rover]

Steering clear of politics, the phenomenon of “Covid pricing” interests me. In saying that, I entirely accept that it was real and that boat prices did indeed shoot up.

The trite answer is, of course, ‘supply and demand’.

But what underlies that?

I remember the onset of the pandemic as a time when people were fearful for their jobs, their health and, indeed, their lives and against that backdrop why would people pay more for something they really don’t need in any sense other than as a source of enjoyment?

Perhaps folk had spare cash because they couldn’t spend it on holidays, given that the airlines weren’t flying and hotels were largely closed. Similarly with other spending that couldn’t be done - concert tickets etc.

Perhaps, the idea of a boat where one could stay in a protective bubble but get away from home was appealing?

Or was it FOMO - ‘If I’m going to die sooner than I want, I’m going to have that thing that I didn’t think I could afford because what’s the point of money in the bank when I’m 6 feet under’?

I bought from them recently. On completion of the lease ownership was transferred to a company owned by the de facto owner and Sunsail charged VAT. I bought the boat from the owner's company excluding VAT. When I took possession we went through an export procedure which enabled them to reclaim the VAT.
One of the benefits of buying like this was that the owner had already had an extensive survey done as part of the hand-back as the contract obliges Sunsail to hand back in good condition and with a full original inventory. I got full access to this and related correspondence.

 

[benjenbav]

Varies. Some are wholly owned but most are owned by individuals under a management contract. The entity that owns the boat and operates it will be VAT registered and therefore reclaim the VAT. At the end of the contract the beneficial owner can either take the boat or the operator will sell it, charging VAT on the sales value unless the buyer is non resident and therefore does not have to pay EU VAT. So potentially attractive to UK buyers wanting a boat based in the Med. not quite simple as they still need to comply with TA rules, although in Greece and Croatia that is not a real hardship.

I bought my first Bavaria in Greece through one of these contracts. Paid half the non VAT price up front, got 6 years of holidays and at the end paid VAT on the other half.

Thank you.

 

[Irish Rover]

€79,000 each excl VAT.

 

[Tranona]

At that price could be tempting to spend a couple of months sailing to UK where they would fetch well over £100k or even USA with even higher asking prices of $150k.

 

[mrming]

€79,000 each excl VAT.
View attachment 184996

Here’s a listing for one, in case anyone wants to see any more pics (no connection). Difficult to judge condition imo.

 

[Irish Rover]

Here’s a listing for one, in case anyone wants to see any more pics (no connection). Difficult to judge condition imo.

Obviously I cannot offer any opinion on the condition of these boats, except to say I bought a powercat from Sunsail in Agana earlier this year and it was in really good condition.

 

[Tranona]

Put it on a truck (about £8k) to UK, pay VAT and would still be well under £80k. No problems with certification as 2017 RCD. Only downside is small engine. Hours seem right, much the same as my first Bavaria after 7 years chartering.

 

[Irish Rover]

Seems a lot of boat for €155k

 

[Fr J Hackett]

Is Paddy on commission ?

 

[Irish Rover]

Is Paddy on commission ?

Anything for the price of a few pints

 

[mrming]

Checking back in on this thread. As some of you know I look at many boat ads every week, in the area up to around £100k. I've started to notice apparently good condition 35/36 foot boats from the early to mid 2000s, dropping in price, hanging around or both. We're entering a slower part of the season, but I think these effects are longer term, with many boats for sale for over a year. It seems to me like the softening affecting the lower end of the market is starting to creep up to slightly larger and newer boats. A good time to be a buyer.

 

[lustyd]

I also look at a lot of ads, and the ones hanging around are almost always the ones which have very little equipment and have had no updates. Often they also lack basic maintenance.
None of these things is a deal breaker, but when your boat is the basic model with old equipment and no maintenance then it should be reflected in the price. Well equipped updated boats sell like hotcakes and can be priced accordingly.