Has the market been worse?

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PeterC

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I dont understand the yacht market?

I have been looking for a while intending to purchase a blue water cruiser up to £300K. So many of the yachts of this type seem to be on the market for month after month. Very few sell and very few new examples appear.

It seems in recent months to have become even more noticeable.

Is this normal? Will good examples eventually sell or would you expect to have to take a very substantial reduction to force a sale?

Do people think the market has fundamentally changed?
 
Is it the ease with which people are able to release capital that's changed? If you have the money available I'd have thought you'd be in an excellent position to get a good buy...
 
PeterC said:
I dont understand the yacht market?

I have been looking for a while intending to purchase a blue water cruiser up to £300K. So many of the yachts of this type seem to be on the market for month after month. Very few sell and very few new examples appear.

It seems in recent months to have become even more noticeable.

Is this normal? Will good examples eventually sell or would you expect to have to take a very substantial reduction to force a sale?

Do people think the market has fundamentally changed?
Click to expand...

Most would agree the present UK market, somewhat for currency reasons, is not identical to the continent. And all markets are slower at the moment - but there was a flurry recently when overpriced Euros bought good value in the UK, so hastening the UK market.

If your Q is really "where do I get best choice for a substantial amount of cash" I would look wider in the N hemisphere. I could think your cash would buy you a very nice boat in N America. I would also look to Holland which has a very good and well serviced pre-used market. Tooling around Holland this summer I was amazed at the value on offer there; have a look at Hindelopen dealers as a taster.

PWG
 
The market is flat because there are few boats on the market and many that are may not be seriously for sale. That is they are priced too high for what the few buyers are prepared to pay. So, sellers, unless pushed for the cash would rather leave them on the market than accept a lower price.

Particular types of boats always tend to take a long time to sell because the potential number of buyers is very small. In busier times, they tend to get lost in the volume of quick sellers, but if you look at brokerage listings now compared with say 5 years ago there are subtantially fewer boats available. However, popular well priced boats sell quickly, often without showing in advertisements, accentuating the visibility of boats that take months to sell.

Subjectively suspect that economic uncertainty has depressed the sell up and sail or cash in the business and trip of a lifetime market, leaving lots of existing boats surplus to requirements.

Could be a good time for cash rich buyer to get a good deal, particularly as new boats have become so expensive.
 
PeterC said:
I dont understand the yacht market?

I have been looking for a while intending to purchase a blue water cruiser up to £300K. So many of the yachts of this type seem to be on the market for month after month. Very few sell and very few new examples appear.

It seems in recent months to have become even more noticeable.

Is this normal? Will good examples eventually sell or would you expect to have to take a very substantial reduction to force a sale?

Do people think the market has fundamentally changed?
Click to expand...

Can't comment on the market, but with this and this and this for sale, why look any further?

3 perfect boats (I have seen them all), all within your budget.
 
I think a number of sellers have a fixed idea of what their boat is worth and won't budge from that. If they're being pushed into selling reluctantly (by economics, matrimony or failed dreams for example) it's easy to cling on by refusing to sell at a lower price. meanwhile the boat, if unused and uncared for deteriorates.

I suspect the trick is to find a serious seller
 
the market for boats is very low

the market is pretty flat, a boat close to us sold for less than 50% of the asking price, the asking price was silly low at £50.000 for a seaworthy blue water cruiser. So if you have money there's someout there who MUST sell - just pray its not you one day!
 
On reading, then re-reading the op I get the feeling that a sale rather than a purchase is the desire here.
There are plenty of boats around of the size you are looking for and if you are looking to buy you should be cock-a hoop at the state of the market.
 
Have you considered that the approach you are taking is the very cause of everyone over inflating their prices by 20% in the first place? (yes, I know the math is not perfect). :)
 
A purchase is very much what I have in mind.

Solent Boy

Firstly I should have thanked you for your suggestions - sorry. I am grateful. I will look at these again it was a type I had considered and I didnt realise they were nearly the correct size.

Sorry, what approach?
 
Solent Boy

Yes, I see the Bowman 48 would probably fit the bill BUT it says the yacht is in Malaysia - for me I wouldnt want to get involved in a purchase from that distance. The Bowman 42 is too small.
 
Having sold my boat and now looking at good quality 32 and 33 footers from the 80's I am delighted at the state of the market - several possibilities which would have been out of my price range some years ago.
 
If you have 300k to spend on a blue water cruiser then I'd suspect the field is open for you to go out and chose what YOU want and make the offer YOU feel is appropriate. I'd bet a dime to a dollar that somebody will take you up on your offer. Anybody serious will be prepared to negotiate as that is the basis of any deal. There are also the formalities of survey which usually provide some scope for negotiation.

You have a lot of buying power, i'd be using that muscle, in the nicest way possible to test the market limits. My fear in spending that much would be of a slide in market values after making a purchase. But if you want a boat that is the risk we all take, though in my case its a tiny risk by comparison..which is why I can sleep most nights:D

Good luck finding the boat you want.

Tim
 
Someone that has a £300k yacht, for sale or not, probably has £3m in other assets. They're more concerned with how their investments are performing than they are about a floating, one-off, hobby-buy that they bought when they wanted to 'fit in' with the yacthy crowd in their club. It's money spent that they no longer look at as an asset in their financial portfolio; if it rots, well no real loss. If it's for sale then it's probably their accountant telling them to remove it from the books.
 
PeterC said:
I dont understand the yacht market?

I have been looking for a while intending to purchase a blue water cruiser up to £300K. So many of the yachts of this type seem to be on the market for month after month. Very few sell and very few new examples appear.

It seems in recent months to have become even more noticeable.

Is this normal? Will good examples eventually sell or would you expect to have to take a very substantial reduction to force a sale?

Do people think the market has fundamentally changed?
Click to expand...

Eh? This is a troll surely.

To have 300k in ones back pocket means one of three things to me:
1: Lottery winner
2: Selling up and sailing off
3: Oi am conseederably reecher than yow.

If 3, then you're an astute enough businessman to know the answer for yourself: we're probably heading into a double-dip recession where people flogging their boats for the same dosh as 3 ferraris are willing (and able) to hold off selling at a discount rate.

If 2, with the current state of the market, then you're in luck and should try hard to negotiate a blinkin good deal for yourself.

If 1, can I borrow a tenner?:D
 
PeterC said:
Solent Boy

Yes, I see the Bowman 48 would probably fit the bill BUT it says the yacht is in Malaysia - for me I wouldnt want to get involved in a purchase from that distance. The Bowman 42 is too small.
Click to expand...

I understand. The only reason I mentioned is that it is a very smart boat. I know the owner. He is a very finicky guy and has the boat professionally maintained so he can fly out and use it when he wants to. He reason for selling it is simple. He wants to buy a Rustler 44 which is the boat I have. The Rustler 42 is a bit bigger than the Bowman 42, but if you are looking around 50 ft I can see that these are too small for you.

50 foot is a difficult length in terms of blue water cruisers. I had this discussion with several people at the boat show. Most builders seem to go from mid forties to mid fifties. Must be something to do with numbers of cabins.

P.S the approach I mentioned was a reply to another message- the one from Malo.
 
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