Market Madness?

Farmer Piles

Farmer Piles

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Kinda in reference to the thread of a couple of months ago regarding "prices cooling?".
I was alerted to a boat coming on the market late yesterday, phoned about it this morning, just under £100K, and they had already had a full price offer and the purchaser wasn't bothered about a sea trial or survey.
So I guess things have yet to cool!
 
I am just starting to notice “recently reduced” in relation to house prices, no doubt boat prices will follow at some point
 
Farmer Piles said:
Kinda in reference to the thread of a couple of months ago regarding "prices cooling?".
I was alerted to a boat coming on the market late yesterday, phoned about it this morning, just under £100K, and they had already had a full price offer and the purchaser wasn't bothered about a sea trial or survey.
So I guess things have yet to cool!
Click to expand...

We are rapidly racing towards another global financial meltdown so it might be a good idea to keep your cash under you mattress for a while

Then you might get a great deal as everyone rushes to offload their boats

(y)
 
Cars sales slowing, rest will follow suit.

Decent houses seem to walk themselve off the shelves pdq.
Neighbours had 20 viewings over 2 days, bloke at work has 6 viewing booked for his house, neither house anything special.
 
I see a lot of boats atm still “hanging around” when I would‘ve thought theyd fly out the door. Dunno if it’s because it’s end of season & not many ppl want to buy boats for winter etc etc.
 
As noted on another thread I think there are a few more boats coming onto the market now. Some are still buying without survey but we didn't and still got first refusal on both boats we went after (sub £100k).

You do have to be prepared to move quickly though and if it is decent boat be prepared to offer asking price.

On both ours we were first to view and made an offer on the same day subject to survey. First boat had 8 in queue but survey was a bit grim, second had 2 other viewings same weekend but took our offer.

I think the less desirable boats are now starting to slow down whereas a couple of months ago anything that floated would sell.

We looked local to help us move quick and have been looking for many months so knew roughly what we were looking for which I think helps.

Just our experiences over last few months.

Cheers

TC
 
We looked at a boat recently. €269k. Present owner we believe bought it in 2016 for €219k, doubled the engine hours and not much in the way of additions/enhancements.
 
lynallbel said:
Cars sales slowing, rest will follow suit.

Decent houses seem to walk themselve off the shelves pdq.
Neighbours had 20 viewings over 2 days, bloke at work has 6 viewing booked for his house, neither house anything special.
Click to expand...

Car sales slowing as the dealers can’t get new cars, I know quite a few people ready to change cars but can’t due to the shortages.
 
The thread I started was aimed at sub £20,000 boats where I felt prices were levelling out and there was more availability
 
Things in the sub £100k market don't appear to be cooling too much. Yesterday I was notified by a broker of a boat, identical to mine but 3 years older, on the market for £23k more than I paid 15 months ago. Admittedly it looks in better nick than mine did when I bought it, and judging by the pristine engine room in the photos, its long time owner has looked after it very well, but a hike of 35% would either indicate the market's still hot or the owner/broker is over optimistic.
 
Its November / December, people tend to cool off. I had three closed deals with buyers which cooled off and did not close it.
There mistake come January prices will be where they are now if not worse considering the following.
1. new boats are not available for 2022
2. not many boats are coming into the market (and most which have in October are testing it rather then selling right away).

Point one is extremely important, as it will see new buyers following the Paris and Dusseldorf boat show looking for a used boat for 2022.
Things by what I see are even worse in the UK, with brexit and all.

The chain supply issues will hunt us in the coming year (possibly more), considering that a cold war with China is cooking itself up.
 
I think PYB is broadly correct - supply shortages are going to affect new boat deliveries next year, which should keep demand for second hand boats strong.

The UK market seems to be a special case, now that bringing a boat in from europe has been made at least 20% more expensive, it has reduced the pool of second hand boats available to the uk quite considerably.
 
I’ve only had my boat almost 2 years but I’ve had an offer considerably higher than what I paid …………..but what do you replace these boats/cars with when everything has gone up in value, you only make money if cashing out.
 
Interest rates also plays a big role, suppose you had a mortgage on a house paying 4-5%, now is down to 1% or so. More money to spend financing a boat that - what coincidence - also has a 2% interest rate only. Win-Win ! And your house is worth 50% more so let's do it !

Until inflation starts to rise again (or better is forced to rise by the central banks) and suddenly you will find yourself with the bank at the door and no money to pay the plastic toy. Already Germany had 4.4% inflation projected on 12 months based on the rise in fuels etc. The enormous amount of cash sitting around needs to be wiped out and inflation (or world war which is tiresome) is the best weapon.

A correction will come and boats / luxury cars / holidays villas are first in line to fall. Of course timing is difficult but I guess 2 years max. Better 3 so we can have more choices in buying used boats.
 
julians said:
I think PYB is broadly correct - supply shortages are going to affect new boat deliveries next year, which should keep demand for second hand boats strong.

The UK market seems to be a special case, now that bringing a boat in from europe has been made at least 20% more expensive, it has reduced the pool of second hand boats available to the uk quite considerably.
Click to expand...
I spoke to a boat dealership last week and he said any new orders are 2023 delivery and have been for a while.
 
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