Boat prices...

[doug748]

Further to a past post, feedback on the Plymouth Westways auction:
With reserves of between c 5 - 15% of asking/guide prices the Saturday sale found no buyers for any lot. I guess that the potential saving is too limited compared with the potential saving by direct negotiation.

 

[matelot]

dont understand. if reserves are 5 to 15% (ie if the minimum you can win a bid at is 5 to 15% of the asking price) how can direct negotiation be cheaper? discounts of 97.5%?

 

[doug748]

ie 5 - 15% below asking prices.

 

[Marsupial]

We have been discussing this very effect recently, it means that the "market economics" we all know and love is dead, and in this case "boats at auction" there is NO market for these goods almost at any price. They are worthless.

 

[Twister_Ken]

Not worthless, but not worth the reserve value the vendors had assigned to them.

There is a price at which these boats would have sold, but the vendors were not ready to accept it.

 

[doug748]

Interesting that the only boat to nearly sell was a modest Westerly (it probably sold post auction). I can certanly see the day when a 45ft AWB will be worth the same, or even less, than a 35 footer.

 

[njamesphoto]

i understand they sold many of the boats by negotiation before the auction, and probably more will follow after. It would give you a good edge on a deal now on an unsold lot.

 

[lw395]

There are some bargains in bigger boats, I think it's because the marina costs escalate above 38ft or so. But you have to be aware that other costs go up too. When you suddenly discover you need a Harken Unit Two furler instead of a Unit one for instance! Its possible to buy a nice boat cheap(ish) then have it cost a fortune.

 

[asj1]

I have seen an increasing number of fairly large AWB's for sale recently 40 ft plus. After two bad summers (last w/end excepted!) and a future of redundancies and nil bonuses it's no surprise that many are getting tired of their toys. Which have probably cost them circa £12-20k pa out of taxed income. The problem is who is going to buy them - one thing is for sure credit for such purchases will be very difficult to come by !!

Out of curiousity I recently replied to an advert for a Bav 37 about 3 yo for £37,500 ( it turned out actually to be $50,000 but for sale in NY state so of no interest!)

 

[jordanbasset]

Many thanks for the update. Was wondering if any one on the site is aware of any enforced (bankruptcy, excise etc) auctions where boats would have to sell by order of Bank, Government etc, whatever the price.

In these dark economic times, while I do not want to kick people while they are down, was wondering if such auctions do take place. Have noticed increase in forced sales of homes for example.

 

[jonjo]

I think it is time to attach an IQ test to the forum registration form!