Is there a real shortage of secondhand boats?

[Concerto]

Just been looking at the Yachtsnet web site and was surprised to see they only have 3 yachts for sale, all of them quite old but in good condition. Normally they have at least a dozen for sale. Nothing in the AWB class.

John Rodrigeuz (Jonic) has only 5.

We also hear of yachts returning from abroad due to Covid and Brexit causing some marinas to be fully booked.

Has the market become a sellers market? Or are people not selling their boats? Or a combination of both? With lockdowns and restrictions for nearly a year, this does seem very odd.

 

[matt1]

I'd agree. My sense is the supply for 2nd hand boats has been dwindling for at least 18 months and only seems to be getting worse. New boat sales are booming too

 

[wully1]

I had planned a years break in boat ownership but decided it would be prudent to have a boat sitting on my mooring loosing value than have money sitting in the bank doing the same - only quicker..

Plus I can go sailing in my boat

 

[Adios]

Dartmouth harbour office recently said they have been effected by covid and their waiting list has significantly shrunk. Doesn't seem to fit with the above. I bet a lot of people would be thinking of dumping their boat at the moment but can't get to it to take some photos, can't show people the boat or move it. Not surprising that boats are not coming onto the market.

Restricted foreign travel created a boom for second hand camper vans and to a probably lesser degree inland boating last summer but I can't think that many of the 99.9% of people with no experience of coastal sailing will suddenly buy a yacht they don't know how to use because they can't go to Spain for 2 weeks.

 

[Tranona]

Yes. Looking for an early 2000s Bavaria in the smaller sizes which sold in the 100s when new and you find 1 32 and 2 34s. 5 years ago when I was looking there were at least half a dozen of each on the market at any time.

Those that have decent boats are not selling, and in the last 3 o4 years many late model boats have sold to Europe because of the low value of the £.

 

[scruff]

If you were looking to sell your boat, would you list it now knowing that no-one is allowed to view and if someone did buy it unseen they wouldn't be able to move it? If you were looking to buy a boat, would you seriously be looking just now, knowing you cannot view and not move it once purchased but you would start to incur costs for an idle asset?

I'd imagine the market will just be on ice now but defrost pretty rapidly once lockdown lifted, especially with us all (likely) not being allowed to go abroad for our holidays...

 

[TernVI]

Many boats will have been growing green slime all over since October, and it's not possible to get there and clean them.
If you put your boat on the market in a grubby state, people are ulikely to come back for a second look after you've spring cleaned it.

 

[richardbrennan]

I have just put my boat up for sale with a broker. For what it's worth, she tells me that the market for well presented family cruisers is buoyant at present. Essentially she is doing "Virtual" viewings, she believes potential buyers are drawing up short lists with an intention to view and purchase when conditions allow.

I take the point about green slime, apparently my boat still looks pretty good, but I am having it cleaned.

 

[mrming]

I recently sold my trailer sailer without advertising it, viewed via photos etc. Just made it known it was for sale in our club. Was very clear on all aspects of condition / equipment and accepted a fair price which worked for me and the buyer.

 

[richardbrennan]

Further to my previous post on Wednesday, my boat went live on the broker's website yesterday afternoon and I had an offer of the full asking price, subject to survey of course, and another expression of interest by 11 am this morning. It would appear that good boats sensibly priced are indeed in short supply!

 

[pvb]

Further to my previous post on Wednesday, my boat went live on the broker's website yesterday afternoon and I had an offer of the full asking price, subject to survey of course, and another expression of interest by 11 am this morning. It would appear that good boats sensibly priced are indeed in short supply!

The photos on the broker's listing present your boat as a very tidy example.

 

[SimonFa]

I'd agree. My sense is the supply for 2nd hand boats has been dwindling for at least 18 months and only seems to be getting worse. New boat sales are booming too

Boomers, or late boomers, deciding that house arrest is no fun and they might as well blow their money on something they'll enjoy?

 

[roblpm]

Also sorry to mention the B word but paying Vat on top of a vat paid EU boat isn't exactly an enticing prospect. So it must have raised the price of uk boats?

 

[Frogmogman]

Also sorry to mention the B word but paying Vat on top of a vat paid EU boat isn't exactly an enticing prospect. So it must have raised the price of uk boats?

TBF, I think the weakness of the pound had already made buying an EU boat fairly unattractive for a UK buyer. On the other hand, there will be way less Continental buyers looking to take advantage of the favourable exchange rate to buy UK boats, as the advantage will be wiped out by having to pay VAT. Thus, potentially less buyers for UK market boats should if anything have a negative effect on prices.

 

[Kukri]

TBF, I think the weakness of the pound had already made buying an EU boat fairly unattractive for a UK buyer. On the other hand, there will be way less Continental buyers looking to take advantage of the favourable exchange rate to buy UK boats, as the advantage will be wiped out by having to pay VAT. Thus, potentially less buyers for UK market boats should if anything have a negative effect on prices.

Dodging around the B word (?) I think the depreciation in Sterling roughly matches the VAT for an EU buyer.

 

[Tranona]

The £ is steadily rising against the euro from 1.1 a few weeks ago to 1.16. Far cry from the 1.35 when I bought my German boat in 2015 but expectations are for a further rise if the UK economy picks up faster than euroland.

The most attractive euro buys are in Scandinavia not so much lower prices but the availability of certain types of boats that are not available in the UK. The £ has been gaining against the Krona for the last 3 months or so.

 

[Adios]

The £ is steadily rising against the euro from 1.1 a few weeks ago to 1.16. Far cry from the 1.35 when I bought my German boat in 2015 but expectations are for a further rise if the UK economy picks up faster than euroland.

The most attractive euro buys are in Scandinavia not so much lower prices but the availability of certain types of boats that are not available in the UK. The £ has been gaining against the Krona for the last 3 months or so.

I brought 3 boats back from holland in the early 2000s when it was 1.5 euros to the pound. Good business! A guy I spoke to at a marina in Kobenhavn was telling me at some point (maybe 70s?) the scandis were invading the UK and pillaging our boats because of the exchange rate. I hope it goes in our favour and we don't lose our second hand boats! Boat price inflation does none of us any favours

 

[Koeketiene]

Further to my previous post on Wednesday, my boat went live on the broker's website yesterday afternoon and I had an offer of the full asking price, subject to survey of course, and another expression of interest by 11 am this morning. It would appear that good boats sensibly priced are indeed in short supply!

Similar experience when selling last year.
Sold within weeks.

 

[Koeketiene]

TBF, I think the weakness of the pound had already made buying an EU boat fairly unattractive for a UK buyer. On the other hand, there will be way less Continental buyers looking to take advantage of the favourable exchange rate to buy UK boats, as the advantage will be wiped out by having to pay VAT. Thus, potentially less buyers for UK market boats should if anything have a negative effect on prices.

Maybe not everyone's taste, but <1984 boats avoid all the VAT trouble.

 

[steve yates]

I would have thought that any apparent shortage in supply is a result of sellers waiting till they can tart them up and buyers can come and see them, as opposed to a sudden influx of buyers napping everything up.
What was on the market prior has by now mainly been bought as there are not much alternatives available.