Looking for a bargain secondhand boat

[whiteh]

I am potentially interested in trading up to a ~45ft Flybridge boat.
Whilst I don't want to offend or really take advantage of someone else's misfortune, I also can't afford to pay over the odds. Prices have definitely come down a bit but there must be some boats getting repossessed. Problem is these seem impossible to find. Probably in many cases the owners have already lost them, so my gain may be simply taking inventory off a finance co. at a level they need to liquidate. Any thoughts?

 

[Richard Shead]

Just need to know where to look....

 

[timtap]

[ QUOTE ]

Whilst I don't want to offend or really take advantage of someone else's misfortune,

[/ QUOTE ]

But Hell, Why Not eh ??????

 

[paultallett]

Do tell???.....I promise not to tell..... /forums/images/graemlins/wink.gif

 

[Richard Shead]

I think the clue is in the question.....he mentions finance houses, they don't sell boats directly but like a lot of people they use brokers. There is nothing to suggest they will be giving them away though.

Its like anything, if you invest serious time in your search you will probably come up with something as long as you also have a little luck on your side.

As for this chap asking the question on a popular boating forum, well I will leave you to decide whether thats the best approach for securing a bargain!

 

[paultallett]

Damn, and there was me thinking I'd be poping down to a lock up near the back of the slipway and knocking 3 times!!! /forums/images/graemlins/grin.gif

 

[Tranona]

Think you have missed the boat (?). Very few cheap bargains around. Real shortage of good quality boats and finance houses go for highest price.

You might, of course just strike lucky with a desparate person, but unlikely if you have to ask on here where to look!

 

[Nautical]

Contact Inwards marine, I think they have in the past sold stuff for banks etc.

 

[whiteh]

The point is not all buyers have ready cash and not all sellers can afford to be patient, the result is not just a bargain for the buyer but useful for the seller. Buyer happy, seller happy and potentially broker happy. I think you answer my question though that finance houses use brokers, not sell direct or via auctions which could well have been the case.

 

[Nautorius]

You need to do some leg work. UK Repo Brokerages are Inwards Hamble, Essex Boatyards, Prosers Marine Glasgow. Apart from that look on Ebay and the usual sites. If you are willing to go around the main brokerages and get your face known it will help.

The number one place at the moment is the USA, although the £-$ still not quite good enough.

To find the bargains takes leg work and dedication!

Good luck

Paul /forums/images/graemlins/smile.gif

 

[mainshiptom]

EBY work for GE bank, thats how I got mine !

Tom

 

[admillington]

Speak directly to James Barke at Essex Boat Yards - the great thing is that they will part exchange your boat so removing the hassle of trying to sell her.

They buy/get the repos from failed dealers and the finance houses.

-Andrew

 

[AndieMac]

I think any 'real' bargins will be grabbed a lot higher up in the food chain.

 

[seasick]

my local Marina was full of bargains for the larger size vsls about 2-3 months ago. Now the Continentals have bought a lot of them due to the poor value of the Sterling. The Marine broker commented - good for us in making the sales, short term, but future repeat biz selling the same boat is not going to be likely. So far from prices continuing to decline, in my opinion they will go up as the supply diminishes. My opinion-buy now.

 

[Nautorius]

Well,

I would not buy now!

The best UK boats have been snapped up by Euro buyers and the ones left are mainly overpriced/poor spec or unloved (a bit of a generalisation but in the whole right). For the price of boats I think we still have a bit to drop before longer term stability. The boats made 2000-2009 will always be in plentiful supply compared to before and after. I think later models (2010+) will always hold their value as there is less supply and the best 2000-2009 will hold their value as well.

But any strange combination/colour/spec or not loved will suffer worse than before...there are a lot of boats to compare...just look at the number of Sealine S34's for sale in that era.

I am not predicting doom and gloom, just a bit further to drop. The only thing to save current values would be plentiful credit...and I doubt that is coming any day soon.

And yes...I am looking for a 2000-2009 boat of the right spec in the right condition at a good price before I get accused of talking down the 'Buoyant Market'

Paul /forums/images/graemlins/smile.gif