Whiterose
Active member
I am addicted to boat selling sites..UK Brokers and Private sales seem very high for very old boats..especially in todays financial climate.Peoples thoughts?
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Inflated boat prices
- Thread starter Whiterose
- Start date
ylop
Well-known member
Supply currently ourstrips demand with many boats selling within a few days or weeks of being listed. How long will it last? Well there's delays on new boats and I expect that to last at least a few years as most major builders are sold our for 2023 and some even for 2024 delivery dates. Importing used boats from the continent has become complex after Brexit. I expect not many people who have disposable cash for boats are the worst off in the cost of living crisis. Poor airline experiences this summer mean many will not be that keen on overseas travel until it has been proven to be fixed.
LittleSister
Well-known member
Deflated boat prices are more competitive. ?
I'll get my coat . . .
I'll get my coat . . .
PeterV
Active member
I actually think older boat prices are ridiculously low. Buy a good solid cruiser about 30’ for near £10K or less, update and replace all the gear, doing all the work yourself and you’ve got a nice boat that sails well, will last you years and for less than about £20 or £25K.
jac
Well-known member
A boat is worth what someone is willing to pay.
I suspect that we’re in for a dose of inflation for a couple of years but suspect that will not hurt that many in the market for boats. They will probably have fairly small (relatively) mortgages, which may go up when current fixes expire but i suspect pay rises will compensate.
a low pound makes brings;g in a boat form the eu even less attractive and we might even be getting to the point where a UK priced boat is affordable even paying VAT to import to the EU .
all in all I can’t see demand falling soon
I suspect that we’re in for a dose of inflation for a couple of years but suspect that will not hurt that many in the market for boats. They will probably have fairly small (relatively) mortgages, which may go up when current fixes expire but i suspect pay rises will compensate.
a low pound makes brings;g in a boat form the eu even less attractive and we might even be getting to the point where a UK priced boat is affordable even paying VAT to import to the EU .
all in all I can’t see demand falling soon
scozzy
Member
I think we are in for an extended era of "buyers market"conditions and once your bills triple,the mortgage doubles and things continue on current trajectories I can see quite a few bargains in the boxing day sales on Apollo duck....
steveeasy
Well-known member
Buyers tend to think prices are high and sellers think they are low. I probably think buyers looking at older designs are doing so because it’s a cheaper option and hence the feeling they should be cheaper.
If I’m honest that’s why I got an older boat. It was a cheap boat. That said of course no such thing exists. You need to go thru it to come out the other side wiser and of course enriched
Steveeasy
If I’m honest that’s why I got an older boat. It was a cheap boat. That said of course no such thing exists. You need to go thru it to come out the other side wiser and of course enriched
Steveeasy
ylop
Well-known member
I think you are mistaken. The long term owners probably are fairly committed to sailing and won't be easily parted from their pride and joy. The relatively recent arrivals in the scene (e.g. post brexit/covid) have been conditioned to believe their boat is worth 2021 prices - they won't be flogging them for 2017 prices. For everyone shafted by energy costs, mortgage rates etc there is someone else reaping the benefits (wage increases, tax reductions, landlords with rental properties etc), who will maintain demand. Price caps, plus many people being locked into mortgages etc also means many people won't actually feel the real pain this winter. There's still little supply of new boats so the trickle down in good second hand, etc will remain high until there is shiny new stuff for not much more to keep cash rich people at the top of the chain happy.
Jim@sea
Well-known member
A boat I bought in June 2020 had more than doubled in value when I put it up for sale in August 2022, And I had people queing up for viewings.
Sandy
Well-known member
That depends on the market. If people want to buy boats the price is high, if they don't it falls.
thinwater
Well-known member
The average sailor is about 60. If they decide to sail, by and large, they've got the money and have decided it is time to spend it.
jac
Well-known member
The thing is i suspect that for many boat owners, mortgages are irrelevant. They are either fixed or have been held for so long that 15-20 years of pay rises have eroded the monthly payments as a % of income. Fuel bills might be challenge for some but i think even then payrises will cover
thinwater
Well-known member
Mortgage? Paid that off 25 years ago. Yes, I bought new houses, but I did not use that as an excuse to extend the term.
Wansworth
Well-known member
Internet has just informed me there has been a price drop from 7000 to 5500 euros on a potential purchase!
oldgit
Well-known member
We have around 90 boats on our moorings, there has been some noticeable movement regards sales and purchases over last year or so .
Many boats have been sold due the the unavoidable results of age plus Covid.
Much talk of how hard life is and how expensive it is to run a boat, from a certain, more mature section of the community, but unaware of a single instance of any boat going due to financial problems.
On the contrary there have been several instances of folks trading up and having no problem selling their existing boats, taking advantage of the increase in boat prices to be able to offer their boats at a more attractive price to get a fast sale, one or two selling at more than they paid a while ago.
Many boats have been sold due the the unavoidable results of age plus Covid.
Much talk of how hard life is and how expensive it is to run a boat, from a certain, more mature section of the community, but unaware of a single instance of any boat going due to financial problems.
On the contrary there have been several instances of folks trading up and having no problem selling their existing boats, taking advantage of the increase in boat prices to be able to offer their boats at a more attractive price to get a fast sale, one or two selling at more than they paid a while ago.
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MAGTRAD
Member
A lot of people bought boats during Covid, some with no experience of sailing or having set foot on a boat before. A lot of it was prompted by the restrictions in foreign travel with the move to 'staycations.' I believe once things fully get back to normal a lot of those boats will re-enter the market. A lot of people during that time were able to sell their boats for more than the original purchase price however, everything is relevant.
(I do a little work as a part-time broker)
(I do a little work as a part-time broker)
Scillypete
Well-known member
holy carp ! ! It’s taken over 30 years of boat ownership to become an average sailor but where’s my money? ?
Daydream believer
Well-known member
I think all of this is irrelevant. When I come to sell my boat due to my age limiting my ability to sail any more it will sell for what the market holds. I will not be looking to sell at a higher or lower period in the cycle. It will be nice to get a good deal, but one should always leave a bit for the prospective buyer.
Likewise, if I was going to buy, I would do what I did when I bought it new. . I did not bother to look to see the exchange rate. I just bought the thing. I would do the same if I was buying second hand. I would find what I wanted, shake hands & go sailing. If prices fell 6 months later, so what.
Posting that there has been a price drop of £1500 on a particular boat that one probably never intended to buy anyway, is probably of no consequence .
If you cannot afford to buy it, then you certainly cannot afford to run it.
Putting off because things might change is a waste of one's life, which one does not get back.
Likewise, if I was going to buy, I would do what I did when I bought it new. . I did not bother to look to see the exchange rate. I just bought the thing. I would do the same if I was buying second hand. I would find what I wanted, shake hands & go sailing. If prices fell 6 months later, so what.
Posting that there has been a price drop of £1500 on a particular boat that one probably never intended to buy anyway, is probably of no consequence .
If you cannot afford to buy it, then you certainly cannot afford to run it.
Putting off because things might change is a waste of one's life, which one does not get back.
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Bobc
Well-known member
To some degree, used boat prices are related to new boat prices. As new boats get more expensive, used boats look better value and more buyers go that route, pushing the prices up, so long as the overall demand is there of course.
Rhylsailer99
Active member
maybe its just inflation and now would be a good time to buy about from the UK especially if you live in the USA.
