I ve lost my confidence

[gjgm]

not in my mediocre helmsmanship-though a rather embarrasing episode in the lock over the w/end where I managed to get the boat sideways.
No, we ve been taking a hard look at moving up;deals are "ok", but not enticing.;boats in question are ok; we are fortunate enough to be able to afford it. But in the end , I m just uncomfortable; I cant find any positive news-everything seems to be pointing the wrong way. Hopefully, things look better in the Spring, but it just doesnt feel like the right time.
Am I alone (or wrong)?

 

[maybh1]

For goodness sake - don't fret about putting your boat sideways into a lock. I have seen a Yachtmaster Instructor do exactly the same thing.

And if you could have seen us on the way up to Paris this year, I am sure the lcoals and bargees are still talking about our little flotilla of boats and their antics in the locks /forums/images/graemlins/blush.gif

 

[Nick_H]

You're being far too rational, buy the damn boat and worry about it afterwards like the rest of us.

 

[DAKA]

I agree with Mrs Mayb, getting sideways in a lock used to happen to me all the time /forums/images/graemlins/smile.gif

I remember having to exit back wards once /forums/images/graemlins/blush.gif

Getting a bigger boat solves the problem /forums/images/graemlins/smile.gif

It did for me anyway as at least it is too long to turn round completely /forums/images/graemlins/smile.gif

 

[Nautorius]

Gigm,

You are not alone! We went to Sibs to buy new, chickened out and decided on secondhand. We then talked to some brokers and people were getting desperate to shift their boats..which they could not. So lots of deals to be had. Of course the more boats around and less demand means a very volatile market. Just got off the phone to a guy selling a S34. He borrowed against his house (equity release ) to buy boat 2 years ago. Now interest rates have gone up he is struggling to pay Mortgage, never mind the boat running costs. Has had her up for 6 months and very little interest. Now wants rid of boat running costs and recoup whatever to pay down mortgage. He is willing to lose £45k on her in only 2 years...mind you he overpaid anyway. It is tempting at that kind of price!

He is not the only one out there. I think the Mortgage increases are hurting a lot of people who have over borrowed. This means they are running out of Cash to live and their credit is drying up fast. This means that quite a few boats will be punted on over the next few months. I do reckon that this is a short term situation (i.e. giveaway boats) because Interest rates have settled and may soon drop again. If I get a good deal I will buy ASAP, if not I will wait for one. Mind you it does depend on what boat you want, I doubt many Nimbus owners will be needing to Punt their boats! I have made two offers on two seperate boats in the last 2 days alone. Sooner or later I will get one! Having not sold mine I need a good deal to take the risk..... /forums/images/graemlins/smile.gif

Cheers

paul

 

[Deleted User YDKXO]

I suspect your reticence has more to do with the time of year than anything. Weather is shite, daylight is short so what's the point in having a big shiny new boat consuming all your hard earned whilst you can't use it? Perfectly understandable but, come next Spring, you'll be absolutely gagging to get out on the water and jolly pleased you got that shiny new boat
Maybe you have'nt found the right boat either. If every boat you've seen is just 'ok', then maybe you should'nt be buying those anyway

 

[jimmy_the_builder]

Hi Gavin

Actually, you're not alone. We're in a similar position as well - as you know we sold the T37 in May with a plan to be boatless for the summer because of work commitments - and then go back into the market about now. But all the pointers seem to be wrong at the moment, for me I think it's this general air of economic uncertainty which is dragging confidence down, and the market with it. So for now we are sitting on our hands, like many others I think, waiting to see what will happen with the economy, red diesel, interest rates, property prices - all the usual stuff.

Cheers
Jimmy

 

[David_J]

We are in a very similar position. We have a 9m boat and idealy fancy something like 12m but it probably means going from one engine to two, plus more mooring fees, plus more maintenance, plus the fuel cost situation. So for us upsizing now is all about those usual increases, plus the increasing fuel costs and all at a time of increasing uncertainty in the economy. We were going to buy new but the cost of new builds are not going to plunge as raw materials and labour are increasing all the time but the cost of used boats may dip. Gawd knows how much if at all, that has been debated to death on here, but my feeling is even if that dip is only small there may be a smaller market looking to buy a 12m, twin engine, 30 kt boat in two or three years if we wanted to change. A smaller target market may hit the boats value. Who knows! So it would mean paying current new boat prices to be hit (possibly) by bigger than ever depreciation. That is exactly the point it is pure guesswork so my feeling is to sit tight in my 9m economical boat with its good fuel economy and low cost of ownership and review again next year. The numbers are too big to gamble with.

 

[volvopaul]

Same here im not buying till either it picks up or something comes along thats absolutely right, better making the right decision than a half cocked one.

I once got caught out in the lock at hythe last year, I aimed to moor port side to, as the flag at the entrance was telling me the wind was that way, but we ended up loosing the bow to starboard, Adrian came out and took a line his explanation was that the wind swirls round in the lock entrance and blows the opposite way.

 

[MapisM]

How comfortable you feel re.moving up or not, that's something you can only judge yourself.

But loosing your confidence based on that episode... Is it a joke, or what?
If you just keep an eye at the news, you'll regularly find ferries, ships, tugs - you name it - running aground, sinking, being involved in collisions, and so on. And many of those accidents are due to mistakes made by professionals who spend most of their life in command bridges...
You should actually look at that story the other way round: the next time you'll be helming in a lock, your confidence can and will only be better, after the previous experience!

 

[Overdraught]

I have watched the debates for some time over the future of boating. I think that most years there are similar concerns that the property market will crash because of differing economic circumstances. It doesn't. Maybe I am less concerned about the change to diesel prices than I should be, but I am going from a single petrol to twin diesels and am not too concerned. I appreciate that my fuel costs will be about the same post price rise as I was paying with the petrol but I struggle with the intense doom and gloom floating about.

Boating is a luxury and luxury items are neither rational or cheap.

Personally I know of two people aside from me making significant moves from petrol to twin diesel boats. Of the 5 boats I looked at 3 have been sold. Mine sold within one week of putting her up for sale (at more than I paid 2 yrs ago)

It is really that bad?

 

[Moody]

I understand exactly what you are going through, I have been wrestling with my conscience for some time now about the rationale of a new boat.

The thing is all the reasons for not doing it, state of the economy, diesel, interest rates etc, are all perfectly rational, unfortunately the decision to have a boat in the first place is probably the most irrational decision you will ever make.

All that said I have still been unsure, and then 2 weeks ago I went and had a heart attack (I'm only 46), and that was it, decision made I'm definately having a new boat, and sod the consequences.

Neil

 

[Nautorius]

Jeez Moody!

A heart attack is serious stuff! Hope you are now fine. I agree, life is too short but given I change my boats like the weather I need start making some right longer term decisions. Also I love a 'percieved' bargain!

Cheers

Paul /forums/images/graemlins/smile.gif

 

[gjgm]

hey guys, no, NOT in my mediocre helmsmanship... /forums/images/graemlins/grin.gif
they might need a concrete mixer to fix the wall, but didnt even mark the boat!
Oh bloody hell, now I m beginning to think I should buy /forums/images/graemlins/shocked.gif

 

[Channel Ribs]

[ QUOTE ]
Oh bloody hell, now I m beginning to think I should buy /forums/images/graemlins/shocked.gif

[/ QUOTE ]

The best answer is to sit tight on the current boat and get someting frivolous like a RIB or a sailing dinghy, or a project to keep in the garage over Winter. /forums/images/graemlins/grin.gif

 

[maybh1]

Quite right Moody - we worked out long ago there are no pockets in a shroud.

Sod working all hours just to leave it all behind - the kids would only blow it on something frivolous (like a boat) anyway /forums/images/graemlins/laugh.gif

 

[gjgm]

actually, we have much the same philosophy... only this time we both suddenly paused.

 

[Nick_H]

Wow, if this thread is anything to go by then now is the time to buy, how could the market get any more depressed than this?

What about the upsides? New wealth in Eastern Europe and Russia all potentially looking to buy luxury items, new boat prices still rocketing will drag second hand prices with them, interest rates levelling off and maybe about to fall, and its October and forecast to be 20 degs this weekend. I can't think of a better time to buy a boat.

 

[Overdraught]

Well said!

 

[ChrisKaye]

Thank Christ for that comment, I'm in the process of buying a slightly larger boat at the mo and with all the doom, gloom and despondency I've been getting very nervy !

Please someone else tell me it's not going to "end in tears"