Boat prices.

[Allan]

I have been looking at boat adverts for about a year, whilst trying to decide whether to change my boat. I have now sold my boat and, to my surprise, it seems prices have reduced slightly. I am wondering if it may be an idea to have a year without a boat and see if they continue to slide. I have offers of sailing from a number of people who seem to rate my abilities higher than I do, so I will still have plenty of sailing. I have also been told by a number of people that boats are selling a long way below the prices they are being advertised for. I would be interested to hear any comments and/or experiences.
Allan

 

[StugeronSteve]

Ever the optimist, but, where the economy is concerned, fear may be worse than reality and you might well get a better deal by making somebody a silly offer now.

 

[Tranona]

There is never a right (or a wrong) time to buy a boat. The price is merely the entry fee to the real costs - mooring, maintenance, using it, beer, sun cream etc.

Observation at the moment is that asking prices are not rising and there is plenty on the market, so if your objective is getting on the water in your own boat, now is as good a time as any. The real choice is your opportunity cost. Would you rather do something different with your £Xk (including leaving it in the bank or not borrowing it) than owning a boat?

If the answer is that you want a boat, get out and buy one. If not keep your money and sail with others! Only you can make that choice - today's prices, next year's prices etc are irrelevant to that decision.

 

[graham]

I think its definitely a buyers market.If in your position I would carry on looking at boats and see how it goes.You may save a few bob waiting but you will also lose a seasons sailing which is difficult to put a value on in money terms.

I have a strong feeling that you will see a boat for sale that appeals to you and all the above thoughts will go out the window. /forums/images/graemlins/grin.gif

 

[gjgm]

while no one wants to throw money away, I think its more a question of whether you want to own your own boat. If you are going to keep it for a few years, and you DO want your own boat, I doubt, over a few years, it will make an enormous difference. If its for one year, it might well do. In the end, its a hobby, and not an investment strategy !
As regards boat prices, it would be hard to see why they wouldnt be a bit softer now, but a good boat, well looked after, will always be the one in demand, whenever you jump in. It could be that if there are less buyers, the one in best condition might actually be the one chased harder...

 

[Sans Bateau]

If you are able to go sailing, sit on the money for a while, look around until you find the right boat at the right money. Don't be rushed into a purchase. Buy what you want when the right one turns up.

 

[gavin_lacey]

Unless you are going to live on board and therefore compare boating costs with housing costs it rarely makes economic sense to buy a boat. Sailing friends boats or chartering will inevitably be cheaper. However it is just not the same as owning your own boat. Even in periods of downturn good boats sell for good prices. Less good boats can be bought at depressed prices so if you are into DIY restoration bargains are around. Dont be afraid of making very low offers on scruffy boats and then holding on. You will probably be told to get lost initially but two months down the line ......

 

[fastjedi]

In my experience, people who are selling desirable, well maintained boats will usually hold out to get market value in any climate .... the rest are easy to buy!

Start looking, don't compromise and buy as soon as you find the right boat (The right boat is often more ellusive than you think)

 

[retsina]

Economy is poor and winter time boats are cheaper anyway, they will go up again this summer; however, the time to buy a boat will be next winter where the economic forecast is very negative and borrowing will be avoided by many. Good luck; PS; dont forget to look at Macwester Wights, great boats

 

[wotayottie]

You are quite right - second hand boats depreciate. Not as fast as cars, but they go down nevertheless. And why shouldnt they?

In the past with inflation at 10/20%, this was hidden. But now with inflation at 3/5% (if you believe the govt) it is not. Part of the impetus is of course the price of new boats, which has become lower in real terms over the years with the intro of Bav and Polish boats etc.

So you may be able to save a few pounds by waiting. How much is a year of boat owning pleasure worth to you? How many years of boating do you have left? Not everything can be measured in £

If ownership is the way you like to get your boating, then buy one now and dont waste your life for a few quid. If it isnt, then dont buy one at all.

Its much easier to make decisions for someone else! /forums/images/graemlins/grin.gif