Boat prices starting to fall
- Thread starter Ian h
- Start date
oldgit
Well-Known Member
Market 100K plus is still alive down here .
Recent up grades from P330 to P360 and from Nimbus 35 to nearly new
Beneteau Trawler ,this week alone
The money is there, just a reluctance of skippers to pay daft staycation prices.
Course pre *""**t the choice of boats was much better without that 20% tax hike. ?
Recent up grades from P330 to P360 and from Nimbus 35 to nearly new
Beneteau Trawler ,this week alone
The money is there, just a reluctance of skippers to pay daft staycation prices.
Course pre *""**t the choice of boats was much better without that 20% tax hike. ?
Portofino
Well-Known Member
You might not have noticed but since brexit taking a 50 ftr to the med from the U.K. attracts EU VAT .Anyone..? ??
A 50 ish ftr is a typical med boat as it doubles up as a floating apartment .
Uk weather sea temps , driving hassle if based 20 miles from Manchester , Birmingham, Leeds = May as well base it in the Med .
This removes a whole raft of buyers for H s boat . They can buy one already in the Med vat paid , less delivery as well .
Then using the £2M new figure to drive up a 7-10 yr one @ 50% say £1M ain’t gonna happen .Very few sensible folks will sink £1M in a a piece of old out of date plastic fantastic .Bricks + mortar a U.K. holiday home yes .Boat nope .
So how much is do able to waste on a old Prinny out of date = As I said a “ few hundred grand “ so we have gone full circle back to PYB s point 20-25/% of new .Forgive me for doing the maths for you Ari , but I can’t assume anything , that’s 20-25 % of £ 2 M the new price = £400K to £500 K ….…worth chucking into depreciation plastic to keep in the U.K.
ST840
Well-Known Member
With respect, I've read this post twice and (don't know if it's just me?) it makes no sense! ??
ontheplane
Well-Known Member
Not just you.....
andy59
Well-Known Member
Nope, me neither ?
Portofino
Well-Known Member
deleted - duplicate/ marina wifi !
ari
Well-Known Member
With respect, I've read this post twice and (don't know if it's just me?) it makes no sense! ??
It's not just you
It does remind me of the good old days when Guldy? Gludy? was banging on about the change in red diesel tax status was going to decimate diesel boat values. I remember some remarkable calculation he'd concocted that was something to do with how much interest you'd make on savings if the money you were spending on diesel was... No, never did work it out. Anyway, nett result was the same, all diesel boats would be worth about £2.50.
Ah, good times.
Seastoke
Well-Known Member
Had an email from Burton waters today , with boat reductions, but they were still high with money off.
oldgit
Well-Known Member
Folks moaning like hell about fuel prices, club is having an organised day cruise in few weeks time.
Biggest number of boats going along for ages.
Biggest number of boats going along for ages.
PowerYachtBlog
Well-Known Member
People get used to Diesel, and change boat usage., as I said in another post.
Yes many sadly buy 12-20 meters and use them more as condos then as boats, but that is another story.
I spoke with an Italian refitted Hatteras 52 twin GM 1080hp drinking like 12 liters per nautical mile doing the Adriatic - Sicily - then up to Sardinia.
When I asked him about the fuel he told me the numbers, then told me that is the best spending on a boat because it means you are using it.
The rest like running after mechanics, electricians, and people is what pisses him off and what might get him off boating.
He said even fuel at 5 euros per liter is not a bad deterrent as an usable boat waiting for a part or a mechanic to come and fix it.
I think he is very right....
Momac
Well-Known Member
I have probably spent £500 extra in the year on diesel for the boat compared to the same volume of diesel at last years prices.
But still it seems tolerable and is probably the new normal.
Two grandchildren born this month are presently distracting us from our motor boating.
We are going sailing in September for a few days (not with the grandchildren) and wind power is still the same cost as before.
Maybe we will spend more time at the boat over winter as its going to be cheaper than heating the house .
The marina has a a fixed rate deal on electricity which runs to December 2024 and that will make electricity at the marina cheaper than home after the proposed home utility price cap increases in October 2022 .
But still it seems tolerable and is probably the new normal.
Two grandchildren born this month are presently distracting us from our motor boating.
We are going sailing in September for a few days (not with the grandchildren) and wind power is still the same cost as before.
Maybe we will spend more time at the boat over winter as its going to be cheaper than heating the house .
The marina has a a fixed rate deal on electricity which runs to December 2024 and that will make electricity at the marina cheaper than home after the proposed home utility price cap increases in October 2022 .
oldgit
Well-Known Member
"Maybe we will spend more time at the boat over winter as its going to be cheaper than heating the house . " 
When the gas runs out at home and hopefully before the bailiffs arrive to shut off the supply, have already made plans to move any gas bottles with any LNG in them down to the boat.
Will then hibernate aboard until Spring, or the second coming, which ever can be bothered to turn up first ?
When the gas runs out at home and hopefully before the bailiffs arrive to shut off the supply, have already made plans to move any gas bottles with any LNG in them down to the boat.
Will then hibernate aboard until Spring, or the second coming, which ever can be bothered to turn up first ?
SoulFireMage
Well-Known Member
Well I can definitely confirm the silly season prices are stubbornly high still.
One particular broker seemed surprised that folks would question why a particular boat appears to be £30+ k over priced for a 30 year old 45 foot boat LOL.
Reckon this price crash is way over due!#nobiasofcourse
One particular broker seemed surprised that folks would question why a particular boat appears to be £30+ k over priced for a 30 year old 45 foot boat LOL.
Reckon this price crash is way over due!#nobiasofcourse
limecc
Well-Known Member
It's what price they achieve, not what they're on the market for. Some folk are still in cuckoo land.
And the housing market is broken so cant compare
ontheplane
Well-Known Member
At the moment there will also be "big plums syndrome" - brokers not wanting to be the one to tell owners the drop is happening, owners still seeing the high prices out there...
But what will happen is that over time (say a year) reality will bite. The "I'll put it up for £40k and I want 40k will become "I'll put it up for £38k but take £35k." That will then become, " hell - prices are falling, I'll beat the curve, list at £35k which is the cheapest on there and hope for a quick sale..." and so on.
Pricing in used market is about confidence. If you think prices are going up you will hold out, if you think they are falling you will take the first proper sensible offer as you figure in 4 months you might get offered a lot less.... Then at some point it bottoms out again....
But what will happen is that over time (say a year) reality will bite. The "I'll put it up for £40k and I want 40k will become "I'll put it up for £38k but take £35k." That will then become, " hell - prices are falling, I'll beat the curve, list at £35k which is the cheapest on there and hope for a quick sale..." and so on.
Pricing in used market is about confidence. If you think prices are going up you will hold out, if you think they are falling you will take the first proper sensible offer as you figure in 4 months you might get offered a lot less.... Then at some point it bottoms out again....
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Portofino
Well-Known Member
It doesn’t take much to tip it . At the mo 3 going for 2 boats keeps the sale price up . Once it’s 1 buyer looking at 3 boats then ^^^ happens .
Unlike the housing mkt the the underlying big four are always there driving it . Death , Divorce and Bankruptcy and births ie families wanting more beds .No body needs a boat .
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SoulFireMage
Well-Known Member
That's what I'm relying on for this silly bubble to burst. Probably a year's wait mind, folks can be a little entrenched.
I've come across a few first time owners who are certain they ought to get ALL their money back including every little repair bill - after owning it less than a couple of years or even far less. Which in times prior to the Madness, was naïve.
Still, it is fed by a clutch of buyers who perhaps don't do a lot of research into prices before hand - and unlikely to be regular members here!
ontheplane
Well-Known Member
And as so rightly posted up above - the huge thing here is that no-one HAS to have a boat. If you feel in life that you HAVE to have a boat, you can have an older, cheaper boat. If everything goes to rat s^%t and things get incredibly tight a big saving to the household budget can be saved by getting rid of the boat.
You have to have a house, and in general have to heat it, eat and so forth. So once the mortgage / rent is paid, the house is heated and you are all fed, then what's left is up to you how you spend it. If people see boats are going to drop there will be lots who bale:-
a) Those who dive in and sell now, hoping to either buy back in after the crash or leave boating
b) Those who just can't afford it
c) Those who could never afford it, but were relying on their house keep going up like a meteor, re-mortgaging all the way and stupidly cheap interest rates meaning it cost chump change..... Now they might find the mortgage is too much to manage, the boat upkeep is too much and if they don't sell quick they could be in trouble if prices fall.
I genuinely think at the lower end (Sub 50k boats) these could all become a factor....
You have to have a house, and in general have to heat it, eat and so forth. So once the mortgage / rent is paid, the house is heated and you are all fed, then what's left is up to you how you spend it. If people see boats are going to drop there will be lots who bale:-
a) Those who dive in and sell now, hoping to either buy back in after the crash or leave boating
b) Those who just can't afford it
c) Those who could never afford it, but were relying on their house keep going up like a meteor, re-mortgaging all the way and stupidly cheap interest rates meaning it cost chump change..... Now they might find the mortgage is too much to manage, the boat upkeep is too much and if they don't sell quick they could be in trouble if prices fall.
I genuinely think at the lower end (Sub 50k boats) these could all become a factor....
stelican
Well-Known Member
It's a great shame this was not pointed out prior to purchasing.
