Maybe not quite as rosy at Princess
- Thread starter admillington
- Start date
PowerYachtBlog
Well-known member
It will be a tough cookie for the Brits with the strong sterling this coming fall.
Forecasts of the EURO are all pointing it going down, and unless the Greek crisis is resolved for good I am not seeing a strong recovery for this.
You can also see it from Sunseeker btw who seem that they will not have a new model launch at Southampton, where they will present two projects for early 2016.
As far as I know this never happened since the eighties or since I have been following Sunseeker and boat shows.
It has been about five years of cheap pound, so it will be interesting how they will cope now that the Pound vs EURO is like pre-recession before 2009 levels.
Forecasts of the EURO are all pointing it going down, and unless the Greek crisis is resolved for good I am not seeing a strong recovery for this.
You can also see it from Sunseeker btw who seem that they will not have a new model launch at Southampton, where they will present two projects for early 2016.
As far as I know this never happened since the eighties or since I have been following Sunseeker and boat shows.
It has been about five years of cheap pound, so it will be interesting how they will cope now that the Pound vs EURO is like pre-recession before 2009 levels.
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Whitelighter
Active member
Euro 1.42/43 last week. Low today 1.34, though a small bounce back to 1.36. Still sterling weakened by over 7%
petem
Well-known member
Richard.C
Active member
I struggle with the bit where 55 people lost their job last month yet everyone else now expects a pay rise.
Any company in a position that needs to make redundancies (assuming it's for the right reasons) should not be giving pay increases to any members of workforce, senior executives included.
Any company in a position that needs to make redundancies (assuming it's for the right reasons) should not be giving pay increases to any members of workforce, senior executives included.
admillington
Active member
Princess know how to charge:-
http://www.boats.co.uk/boats-for-sale/princess-60-flybridge-1284
closing on £1.6 million for a Princess 60
http://www.boats.co.uk/boats-for-sale/princess-60-flybridge-1284
closing on £1.6 million for a Princess 60
Whitelighter
Active member
Is the Squadron 60 much less? So far as I can tell a basic one is £1.2m plus VAT
D
Deleted User YDKXO
Guest
I agree it seems a silly amount of money for a 60 footer but does anybody pay that or is that just a starting price against which the dealer lobs in a huge discount as a sweetener?
Going back to Princess and exchange rates, I find it hard to believe that the success of a company like Princess, which has been around for many years, hangs on whether some wide boy in the City decides its a good day to buy Sterling or not. Firstly I guess many of the components and materials that boat builders have to purchase are denominated in non Sterling currencies anyway; for example I presume that Cat or Volvo engine prices are denominated in USD or EUR. Second, whilst Sterling has indeed appreciated significantly since the depths it plumbed post 2008, it is still weaker now than it was much of the time pre 2008 so you could argue that UK manufacturers are still actually still benefiting from a weak Sterling rather than being hampered by a strong Sterling
The problem is not Sterling but the market. Like many markets, the new boat market is a lot tougher place now than it was during the boom years pre 2008 but in retrospect those years were a total aberration fuelled by easy money and hubris and never represented any kind of normality. Now manufacturers like Princess are going through a painful but necessary process of adjustment to what is probably going to be the new market reality for the foreseeable future. Boat manufacturing is just one of many industries that is having to make that adjustment and whilst I feel every sympathy for Princess' loyal and hardworking employees who are facing another year without a pay rise, the reality is that the market dictates what Princess are able to offer
petem
Well-known member
PowerYachtBlog
Well-known member
Stupid money for a production motor yacht when you consider what this size costed in 2010 or before.
Is that real? 60-64 where going for 1 to 1.4 million EUROS.
Was not the 60 a re-development of the 58? Which costed about 750k UK£????
admillington
Active member
I paid £951k for my Squadron 58 in 2012 with a high spec. Haven't seen the latest price for the SQ60
I believe that new boat prices have got up a lot recently. I have heard of some great deals on V52/V48 from PMYS but the deals seem to have got in the 60ft bracket.
Whitelighter
Active member
I think that's nearer 4% Jez
1.44 to 1.34 is a drop of 0.1 which is 6.9% of 1.44
Is you take 1.42 and 1.36 then I conceed its 4.2%.
I think
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Whitelighter
Active member
There is a 2015 biat advertised at £1,150,000 plus vat
Couldn't actually find a Fairline price list. Makes you wonder how you decide to buy one
admillington
Active member
The P60 is a big boat as the Resin Infused Hull allows for more space and this example is a high spec with Vector Stabilisers but still it isn't twice as much as a P58 plus some inflation. I am on boat 15 in 17 years and always managed to upgrade with a sensible cash amount (man maths applied) but now it is stupid money - I could buy a Princess 43 plus a large chuck of change for the price to upgrade to a P60 from my Fairline.
wonky
Member
MapisM
Well-known member
I was curious to check the fins size, so I just looked for the model on Sleipner website (http://side-power.com/kategori/1960/stabilizer-revolution/), and couldn't help noticing the statement "Fins have zero weight in water". Can anyone think of a logical reason for specifying that?
With apologies for the o/t....
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Vitesse
New member
Princess do have a reputation for hire and fire. Google says they lay off workers most years.
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PowerYachtBlog
Well-known member
Now this. With the risk involved, and I see quite a few failures coming from Infusion it is not supposed to make a boat cheaper.
50% less resin used, less glass used, less bonding time etc etc. What they forgot to tell you may be is the increased warranty issues they got.
The stabilizers I can understand though as they increase the price by about 50k in a 60 footer.
But anyways the real problem might be this. Customer sees a new 60 footer at 1.5 million, while he sees a used one or two year old at 1 million.
You can understand that not many are prepared to go for New, considering that is a hit for 1/2 a million or 35% of the price in a year.
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D
Deleted User YDKXO
Guest
Agreed. The other part of the market problem is that the used boat market is no longer supporting the prices of new boats. Gone are the days when depreciation on new boats was a few % per year because the used boat market was eager to snap up nearly new part exchanges. If you are moving up a range of boats, the dealer can probably afford to cushion depreciation on your part exchange by subsidising it from his profit on the new boat but at some stage that deferred depreciation has to be paid by the buyer. There are just too many new and used boats out there chasing too few buyers
Nick_H
Active member
Just a guess, but maybe part of a marketing battle with gyros, as a gyro adds displacement? Alternatively, maybe to highlight that the hydraulics aren't wasting energy lifting heavy fins, and can be more responsive. Either way, i'm pretty sure it came from the marketing department, not the technical one