Second hand boat prices

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bedouin

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I haven't had a look round for a while but browsing the Ads now it seems that 2nd hand prices are somewhat lower than they were a few years ago with few if any exceptions (looking mostly at sailing boats in the 35-45' range).

If this is true then is are they going to stabilise at this level, recover again, or continue to slide in real terms?
 
bedouin said:
I haven't had a look round for a while but browsing the Ads now it seems that 2nd hand prices are somewhat lower than they were a few years ago with few if any exceptions (looking mostly at sailing boats in the 35-45' range).

If this is true then is are they going to stabilise at this level, recover again, or continue to slide in real terms?
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I can't see them doing anything but slide.

There are still a lot of hulls being made.
The number of old boats falling off the end and being scrapped is tiny. Especially in that size bracket.
The number of people in their 30s or 40s who can afford a boat (and who want a boat) is falling.
As the boomer generation retires from sailing over the next decade or so, a lot of boats will hit the market.
The step change in cruising boats in the last 10 years or so is going to make a lot of the boats from the 90s and early 2000s look comparatively unappealing to any younger buyers that do come onto the scene.
Buyers market for the foreseeable I think, especially in AWB/MAB territory.

However, if your boat is especially desirable then it may well still sell relatively easily. There was a spate in late 2016 when the Europeans took advantage of the drop in the pound and raided the solent race boat scene. A whole heap of successful boats went to France or the low countries. It happened to a point with cruising boats as well, my Dad's boat went to Holland in that time, but race boats were being snapped up left right and centre. And it's still happening to a point. I can think of 3 or 4 boats that have gone abroad this season, I can't think of any that have gone the other way.
 
My boat (2017 AWB) has just been sold (subject to final payment... ), went in a few weeks at almost the asking price. Most of the potential buyers were Europeans. The new owners are from Denmark. So I guess the relative weakness of sterling against euroland is a significant factor.
 
I agree with flaming above.

Granted I am a sample size of 1, but I've been keeping an eye on the 33-38ft yacht market as keen to buy one and have cash in the pocket.

However firstly, there is too much uncertainty in the next few years re:Brexit and talk of a global recession for me to want to buy one just now - can't be certain about my job being around in a year or two.

Secondly like you mention, boats are not moving and prices are falling so there is no rush to buy one. Boats I saw on the market 18 months ago are still there unsold (and at the same asking price!)

Thirdly the boat fund is currently getting very good returns in global equities atm.

It currently makes no sense for me to convert equities into GRP at the present time. At this rate in a few years not only can I have a far cheaper yacht, but enough capital to go on a circumnavigation for several years...
 
Hmm, I wonder whether you are overthinking the business of buying a boat - they are toys, after all. When I bought mine 2 years ago the surveyor quite forcefully pointed out that it was worth as much or as little as I was prepared to pay, it wasn't a rational decision; well I was prepared to pay £x and that's what I did. Was it good value, a sound investment? I don't know; I only know I've had a lot of fun sailing her for the last two years and that's worth me then any notional change in asset value.
 
With that diagnosis (and I tend to agree) there is no reason to think the current trends will continue and that in turn means the same doubts over buying now will still exist in 2 or 5 years time.

From looking at what is on the market there seem to be a lot of "average" boats for sale that suggests that they must have been on the market for a long time (years?) - fewere of the premium marques so they may be selling better
 
Scala said:
My boat (2017 AWB) has just been sold (subject to final payment... ), went in a few weeks at almost the asking price. Most of the potential buyers were Europeans. The new owners are from Denmark. So I guess the relative weakness of sterling against euroland is a significant factor.
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I think a 2017 boat is going to buck the trend somewhat anyway, as in boat terms it's basically new...
 
flaming said:
I think a 2017 boat is going to buck the trend somewhat anyway, as in boat terms it's basically new...
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It was also a very desirable model and fully-toyed. Not at all surprised it went quickly at the right money.
 
flaming said:
I think a 2017 boat is going to buck the trend somewhat anyway, as in boat terms it's basically new...
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Bobc said:
It was also a very desirable model and fully-toyed. Not at all surprised it went quickly at the right money.
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flaming said:
Of course! Still going to be easier to sell than a 20 year old boat though...
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Yes. It went more quickly than I dared hope TBH, saves me marina fees and winter lift and service and what ell else. So it was 'priced to sell', maybe I could have gotten a bit more if I'd hung on, but then those collateral costs keep on arising, and the chance of a buyer drops...
 
Scala said:
Yes. It went more quickly than I dared hope TBH, saves me marina fees and winter lift and service and what ell else. So it was 'priced to sell', maybe I could have gotten a bit more if I'd hung on, but then those collateral costs keep on arising, and the chance of a buyer drops...
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Yep... Selling boats is often complicated by the fact that the boat not selling involves not insignificant costs... I've seen boats online that are clearly very overpriced, then finally drop to a more reasonable price to sell... But in the mean time they must have cost the seller way more than he potentially stood to gain if it had sold at the initial asking price.
 
For what its worth I see our Bav which we sold in 2015 is up for sale again and under offer. While clearly I dont know the offer price now maybe little movement in prices after a certain age driven by shortage of certain specs even with Bavs .
 
flaming said:
Yep... Selling boats is often complicated by the fact that the boat not selling involves not insignificant costs... I've seen boats online that are clearly very overpriced, then finally drop to a more reasonable price to sell... But in the mean time they must have cost the seller way more than he potentially stood to gain if it had sold at the initial asking price.
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Indeed. As my boat was moved from Chichester to Swanwick, I was now in the one of most expensive marinas in the Hamble....! Concentrated my mind a bit.
 
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At the bottom end of the market, last year we sold our 18ft 1980's boat, that we had for about 8 years, for £400 less than I paid for it. And it sold very quickly.

Then earlier this year I helped a friend sell a 1970's 21 ft boat for similar money and that sold very quickly.

Both sold locally and only advertised on gumtree. So people are still looking for very cheap old boats, but hardly surprising there is no demand to take these abroad.
 
Like most things it probably depends.

I quite fancy myself a Vancouver 32 and although they have a fantastic reputation I can’t them holding their value as I imagine most people would prefer the extra space a newer design allows. As other posters have pointed out I think there will be some real bargains when the boomers begin to retire from sailing in numbers. So it’s another few years on the Vega for me :)
 
Simon__ said:
Like most things it probably depends.

I quite fancy myself a Vancouver 32 and although they have a fantastic reputation I can’t them holding their value as I imagine most people would prefer the extra space a newer design allows. As other posters have pointed out I think there will be some real bargains when the boomers begin to retire from sailing in numbers. So it’s another few years on the Vega for me :)
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Griff Rees-Jones is reported to have said that his Philip Rhodes yacht Undina cost him £70,000 to buy and that he spent close to £500,000 on her; she is now for sale at ... £70,000.

With my MAB the numbers are a little more modest ... but still the same principle. What i spend is for the pleasure of ownership, not the resale value. My kids joke that I will have a viking funeral and Paean will be my chariot to the next world.
 
PhillM said:
Griff Rees-Jones is reported to have said that his Philip Rhodes yacht Undina cost him £70,000 to buy and that he spent close to £500,000 on her; she is now for sale at ... £70,000.

With my MAB the numbers are a little more modest ... but still the same principle. What i spend is for the pleasure of ownership, not the resale value. My kids joke that I will have a viking funeral and Paean will be my chariot to the next world.
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I like the idea of there being ordinary pounds and "boat pounds"

Boat pounds are worth double are they not ?
 
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