Cheap Post-Covid Yachts!

[langstonelayabout]

Yes, there were a few threads talking about the bargain boat s that would be available soon, courtesy of the Covid crisis.

So where are they? I’ve chased a couple of boats in adverts and found they have already sold at very close to their (high) asking prices. Where are these bargains we discussed please?

 

[Sealong]

The logic that underpinned a deluge of boats coming onto the market and thereby reducing the price was flawed.
There are no cheap boats because there is now a demand for them.
The demand has arisen because people are less likely to want to fly to holiday destinations, or to stay in campsites, or to rent cottages or stay in hotels.
A boat is a perfect way of achieving a holiday away from the risks of becoming infected by Covid-19.
So, more demand and the price does not drop.
Well that's my theory.

 

[Achosenman]

There's no such thing as a cheap boat...simple.

 

[TernVI]

Mate of mine is just back from delivering one to Europe....
They've onl;y got 6 months to snaffle all the bargains.
Most would-be sellers are just waiting at the moment.

 

[doris]

The interesting bit will be when the whole economy stutters come the autumn, and this runs through into next summer, will there be owners who come to their collective senses, unlike most of us here, and recognise the money pit that boat owning is. The whole industry is up for a shake out and where it finishes up will be subject to loads of projects in assorted business schools in the coming years.

 

[[165264]]

I HOPE we are witnessing a "dead cat bounce" caused by those who were contemplating getting a boat during the winter and early spring rushing to get one. I'm with Doris. How will it look come January? I for one am not forking out loads of dosh. I can afford to wait, though patience isn't high on my list of virtues. But you're right- I've been watching and have been concerned by these boats flying off the shelves. If it continues I shall remain boatless and waste my money on other forms of debauchery.

 

[Sealong]

The interesting bit will be when the whole economy stutters come the autumn, and this runs through into next summer, will there be owners who come to their collective senses, unlike most of us here, and recognise the money pit that boat owning is. The whole industry is up for a shake out and where it finishes up will be subject to loads of projects in assorted business schools in the coming year.

The sky is falling down again !

 

[DJE]

I heard Rishi Sunak was buying them all.

 

[[165264]]

I would add that for me personally, a recession would be great; Europe wide as I might even consider getting a small house in Croatia and could then do my boating there but I don't think I could live with my conscience as millions would be damaged by the economic fall out. I'd rather the economy recover and I remain land-bound. BTW one's conscience can be clear about buying a house there. Prices are low in areas away from the coastal strip as the country is losing people to emigration.

 

[[165264]]

Yes, there were a few threads talking about the bargain boat s that would be available soon, courtesy of the Covid crisis.

So where are they? I’ve chased a couple of boats in adverts and found they have already sold at very close to their (high) asking prices. Where are these bargains we discussed please?

Various other thoughts come to mind.

1. A disproportionate number of deaths come from BAME people. Generally, they don't have boats.
2. Many of the deaths are in the frail elderly in care homes. They were long past sailing.
3. The recession hasn't bitten yet. I hope it won't be as bad as predicted but at least we won't have some cretin like Osbourne spouting on about "austerity" this time.
4. If sailing people have died, their executors won't have got round to selling boats yet.
5. Pound is weak, so perhaps interest from abroad?
6. Deaths are disproportionately high in the lower socio-economic groups. They don't sail.

 

[lw395]

I would add that for me personally, a recession would be great; Europe wide as I might even consider getting a small house in Croatia and could then do my boating there but I don't think I could live with my conscience as millions would be damaged by the economic fall out. I'd rather the economy recover and I remain land-bound. BTW one's conscience can be clear about buying a house there. Prices are low in areas away from the coastal strip as the country is losing people to emigration.

It's an ill wind which blows nobody any good.

Personally I think the financial impact isn't happening yet.
The economic fallout hasn't really filtered through to the boat-owning classes.
Most of us are still comfortably retired/WFH/business as usual.
We haven't been hit by the taxes to balance the books yet.

 

[[165264]]

True- those taxes will need to be high.

 

[ridgy]

Here is a starter for ten, tidy looking Fulmar with new engine, offers on 12k...

Westerly fulmar 32ft sailing boat yacht , one owner from new ! | eBay

 

[[159032]]

The logic that underpinned a deluge of boats coming onto the market and thereby reducing the price was flawed.

I think I contributed to that thread. The bargains are not now. You will just have to be patient. People are trying to sell boats at daft expensive prices at present. They want to realise the perceived value.
It will take a while for those daft enough to pay too much to become a rare commodity. Then vendors will have to start lowering their prices.
The big kick in this will be when the furlough scheme has ended in November and people realise there are many job losses.
Estimates are 4 million unemployed.

Then the 'forced sale' prices will become prevalent.

Wait a while.

 

[[165264]]

I think I contributed to that thread. The bargains are not now. You will just have to be patient. People are trying to sell boats at daft expensive prices at present. They want to realise the perceived value.
It will take a while for those daft enough to pay too much to become a rare commodity. Then vendors will have to start lowering their prices.
The big kick in this will be when the furlough scheme has ended in November and people realise there are many job losses.
Estimates are 4 million unemployed.

Then the 'forced sale' prices will become prevalent.

Wait a while.

I love you and want to have your babies.

 

[Benny257]

I put my Beneteau on the market recently and have had a flood of interest. I had an offer at the asking price (market value) within 2 days . I spoke to an Ancasta broker who told me in the last 4 weeks they had broken all previous records on yacht sales. Friends of mine looking for a boat have lost out on a boat simply because they were not quick enough. Sellers market in my experience.

 

[RJJ]

Anecdotal steer from a few pals at the yard - a broker, a surveyor, and an engineer - is the market is buoyant for cruisers, somewhat less so for racers.

I would surmise that while the market is a feature of the broader economy (people buying boats need to be able to earn that money somehow) it also compares well to other forms of holiday. Basically, for all the reasons many of us have always liked it:. No need to fly; no need to share your resort with other people; no need for cleaners/staff; no dependence on public transport; no need necessarily to cross borders should that be a challenge; easy to self-cater.

For all those reasons, it is a "safe" bet compared to most other summer holidays taken by moderately affluent people. I don't see those reasons going away in a hurry. Lots of people with an inkling of experience would rationally be considering buying in, and I am aware of a couple.

Further, more and more people and employers, including mine, are looking at increased home-working as "business-as-usual". For those who considered a weekend a bit short (,get to the boat, stock up, do your checks, make your plan, go, return, tidy away, clean up, offload, missed the water taxi so SUP ashore, children grumpy, get home late and knackered on Sunday)...if you can work on board on Friday it becomes far more favourable.

 

[[165264]]

I put my Beneteau on the market recently and have had a flood of interest. I had an offer at the asking price (market value) within 2 days . I spoke to an Ancasta broker who told me in the last 4 weeks they had broken all previous records on yacht sales. Friends of mine looking for a boat have lost out on a boat simply because they were not quick enough. Sellers market in my experience.

Blimey! That could so easily have been me looking too! It wasn't in Lymington, was it?

 

[dgadee]

Here is a starter for ten, tidy looking Fulmar with new engine, offers on 12k...

Westerly fulmar 32ft sailing boat yacht , one owner from new ! | eBay

I passed this onto a friend who is looking, but not for him he thinks after speaking to seller. But keep the ideas coming.

 

[Koeketiene]

Yes, there were a few threads talking about the bargain boat s that would be available soon, courtesy of the Covid crisis.

So where are they? I’ve chased a couple of boats in adverts and found they have already sold at very close to their (high) asking prices. Where are these bargains we discussed please?

Recently concluded the purchase of a boat (April).
Was actively viewing from end January to mid March.
Viewed 5 boats.

All the boats I have viewed have since sold.
Of the remaining 7 on the list of possibles all but 3 have sold.

IMHO, those cheap Covid boats are a myth.
Though I did not pay anywhere near asking price.