Impact of Corona on used motor boat prices? (60-80 ft) any experts on hunting a boat here?

[JohnSmith1234]

Pretty self-explanatory topic. Do you think this situation and the ensuing economic depression will lead to fall in prices of motor boat yachts? I am looking in particular for a 60-80ft long one made in 2013-2017.
What would be a good way to hunt for nice deals? Preferably avoiding a middleman and making both sides happy.
If anyone is based in Europe and can give me some tips, please DM me. I am happy to pay something for consultation, just tired of salesmen. Thanks

 

[jrudge]

As ever the value is where the seller and buyer meet.

If the seller is compelled to sell given their economic position prices will come down. If not they probably won’t. Interest rates are low.

I am sure that there will be some distress sales as some businesses will be hugely impacted and owners may need cash but I don’t think anyone yet knows how widespread this will be. The U.K. is “ only “ 4 weeks in. Personally I don’t think it will end any time soon and then how long does it take to come back to normal ?

 

[oldgit]

At guess a few boats that end up on the distress market may have some sort of finance involved.
Friend of mine had contacts in Majorca who were involved with snatch backs and repossesions.
They found him a Fairline that an Italian bank had an interest in.No problems .The owner literally handed it back and walked.
It was not a steal but he was able to sell it on after a few years at a small profit.His real problem even back then was finding a berth.
The folks who did have to actually go and retrieve some of the vessels did have some tales to tell as some of the owners did their best to hide the boats and tried physically to prevent its removal.

 

[rubberduck]

I think prices will go up as people decide life is too short after this & invest in pleasure more. After a long illness I bought a boat for this very reason.

 

[Deleted User YDKXO]

For sure used boat values will be adversely affected just like in any recession. FWIW I think this time around the early bargains will be found amongst dealer and manufacturer stock because the CV19 situation happened so rapidly that dealers and manufacturers did not have any time to ramp down their stock levels. It will take a little longer for bargains to start appearing in the private boat market for the same reason. The CV19 situation hit so quick that many private owners wont even know if they have suffered financially yet.

So I think if you fancy a dealer stock boat maybe now is the time to make a lowball offer but if youre in the private market, probably this coming autumn/ winter will be the time to go bargain hunting

 

[Sticky Fingers]

... FWIW I think this time around the early bargains will be found amongst dealer and manufacturer stock because the CV19 situation happened so rapidly that dealers and manufacturers did not have any time to ramp down their stock levels. ...

Funny you should say that I'd say that's a dead cert.

 

[MapisM]

I think this time around the early bargains will be found amongst dealer and manufacturer stock

I half recall to have read that ABYS has a F720 on stock, M.
Just a thought..... ?

 

[petem]

I think prices will go up as people decide life is too short after this & invest in pleasure more. After a long illness I bought a boat for this very reason.

Yeah, but you could afford it!

 

[Deleted User YDKXO]

I half recall to have read that ABYS has a F720 on stock, M.
Just a thought..... ?

Like the SL72, the boss will need a lot of persuasion! She hates the idea of a closed off galley

 

[MapisM]

Well, the F720 does have an open galley.
Different than yours because it's on the other side of the p/house rather than near the cockpit, but still open anyway, IIRC.

 

[Deleted User YDKXO]

Well, the F720 does have an open galley.
Different than yours because it's on the other side of the p/house rather than near the cockpit, but still open anyway, IIRC.

The latest Ferretti 720 'New' has an open galley but the earlier 720 version had a closed galley. Unfortunately I wont be in the market to buy a new one

 

[MapisM]

But my whole point was about "bargains" on dealers' stock!
Btw, ain't ABYS based right in PV?
A cheeky offer on top of a beautifully maintained 630 might be tempting for them....

 

[Deleted User YDKXO]

But my whole point was about "bargains" on dealers' stock!
Btw, ain't ABYS based right in PV?
A cheeky offer on top of a beautifully maintained 630 might be tempting for them....

Yes but dealers stock used boats just as they stock new ones and both burn holes in their cash just the same

 

[MapisM]

Yup, of course. Better a bit smaller hole, though!
Besides, I suspect that a 630 at the right price might be much easier for them to sell than a new 720.
After all, she's comparably beamy, has bigger engines, is much faster, has internal stair to f/b...
...Coming to think of it, not a very good idea, probably!

 

[Deleted User YDKXO]

After all, she's comparably beamy, has bigger engines, is much faster, has internal stair to f/b...
...Coming to think of it, not a very good idea, probably!

I think you've come to the same conclusion I came to after viewing several new boats over the last 2-3yrs. Certainly Ferretti has been on a cost reduction exercise since 2010. Narrower beam and lighter weight which means smaller engines. Make non structural GRP mouldings less substantial and cut down on expensive timber inside as well as cutting back on marginal features like interior steps. To be fair, other manufacturers have been treading this path too but it leaves owners like me asking why should I spend 3-4 times the value of my existing boat on a new boat when my existing boat is better in many ways

 

[Sailorsam101]

I'm trying to sell my Targa 33 at the mo..well i was!

I've taken it off the market again as no bites..nothing at all from October to now..and no it's not over priced...just nobody has been being from Brexit till all this now.

Also i'm in the middle of moving house..got everything ready to go and then the lockdown...so I'm stuck paying rent on two houses..long story...and cannot move in with my lady.

We are stuck on Limbo.

But and here is a moan.....I wish people..such as the press..would stop saying how house prices are going to crash...this talk is going to MAKE them crash!!!

I wish all the newspaper idiots would just shut up and do one!!!

 

[Deleted User YDKXO]

I've taken it off the market again as no bites..nothing at all from October to now..and no it's not over priced...just nobody has been being from Brexit till all this now.

I assume you have been trying to sell in the UK? Another unusual factor about this recession is that Sterling hasnt taken a dive as it usually does in a recession although it was weak at the start of the CV19 outbreak. So there wont be any foreign buyers in the UK market looking for bargains based on Sterling weakness alone as there was during the last recession in 2009/10 when Scandinavian buyers were active in the UK market

 

[Portofino]

There just won’t be the volume of money around for big discretionary purchases.Those that can continue to maintain the boat will have to hang on it.
Co directors and self employed business owners will be cash starved and unable to cross the mental barrier of a boat in the £100k to £2M .
Turn over will shrink .....think of the effect that will have on brokers ? Not good .
New orders will evaporate for the manufacturers, they will lay off staff by Christmas.

Because cash is king now ! Only a very few ( unsustainably number to support the status quo **) will buy a large ish boat .
For an owner with £100k - £2M tied up in a piece of frivolous plastic who wants out ......it’s gonna be difficult the direction of travel of the value is only imho gonna head south .

Time span of the above next 24/36 months min.

Those perfectly content as they are , and happy to hang on with there boat , can fund its running costs etc are need not to worry .

***. Equity holders involved in .......
Funeral directors + veneers industry ( coffins to you and I )
Administrators+ insolvency practitioners
Delivery industry
Food supply chain industry
Transport industry for ^^^ ....brakes , tyres etc for HGV .

 

[Deleted User YDKXO]

***. Equity holders involved in .......
Funeral directors + veneers industry ( coffins to you and I )
Administrators+ insolvency practitioners
Delivery industry
Food supply chain industry
Transport industry for ^^^ ....brakes , tyres etc for HGV .

I understand Mr Bezos is also doing quite well out of this so he should be able to afford a new boat too

 

[Bouba]

The fall in light crude futures into negative territory shows how far people are willing to take a haircut to offload a liability