Still a buyer's market?

[ike70]

This is my first post here, and as I have followed the discussion I have found this forum very informative.

I'm from Scandinavia and planning to buy my first boat. I'm looking for a sub 28 feet, sub 35 kGBP diesel cruiser in the UK market, since used prices in my home country are easily 1,5 times what they seem to be in the UK, even with all transportation expenses included, and also the supply in the UK is much much greater than here. I've been browsing the brokerage listings, the usual suspects being the likes of Sealine S23, Regal and the other US brands.

Right now I've got my eyes on a couple of Sealines in the 34-39 kGBP range, a couple of Regal 2465/2665s in the 34-37 kGBP range, a Monterey 262 and a Chaparral 240 around 30-32 kGBP, a Doral 250 at 40 kGBP and a couple of Glastron 249s between 28-32 kGBP. I'm trying to narrow down my list, spend a couple of days in the UK to view the most interesting ones and then start the bidding process.

What I would like to get from this forum is people's view of the current market conditions - is it a seller's or buyer's market in this boat segment currently, and how far are the asking prices of the actual prices eventually paid?

There seems to have been some considerable reductions made during the past couple of months (for example a Regal reduced from 50000 to some 36000 GBP), which in my opinion indicates that the market is still trying to find the right price level in the new economic climate.

Any viewpoints are much appreciated!

 

[blueglass]

isn't EVERYthing a buyer's market right now?

 

[Dave_Snelson]

I recently sold my boat and got within £250 of my asking price. Not bad! In reality the UK is still a buyers market and, interestingly you have resolved a puzzle for me. I was approached by a guy from Sweden who was over here buying boats to sell back home. I hadn't realised the price differential.

 

[gjgm]

What I would like to get from this forum is people's view of the current market conditions - is it a seller's or buyer's market in this boat segment currently, and how far are the asking prices of the actual prices eventually paid?

Theres no answer to that. Depends on how sensibly the boat was advertised. I know of one boat that was advertised last Friday;98.8pct of asking price is in sellers account today...Decide what the boat is worth to you, and dont waste time on some random "discount" and "market value" number. The only two people who care what that amount is, are you and the seller. I think its a fallacy that sellers are always desperate; there are as many reasons to sell as there are to buy.
And dont buy the boat just on its price..by all means make sure you can afford it, but buy the boat you want.

 

[Nick_H]

Blimey Ike, your English is better than pretty much anyone else on here, and most of us are English!

Agree with gjgm, but I also know that many people like to have a feel for what's a reasonable offer against an average asking price, so here's my two cents. I reckon for a Ford Mondeo of a boat, plenty available but also reasonable level of demand from buyers, you should aim for 15% off the average asking price, ignoring any high prices where the seller is not serious, or any low prices where the boat may be unloved, or the seller desperate. That's very rule of thumb.

Of your list, i'd discount the Glastron as it's cheaply built, but the others are OK. Sealine, Doral and Chaparral would be my shortlist.

 

[Tranona]

Agree with gigm. This is not a market full of desparate people willing to take any price offered. There is in general a shortage of good boats because the number who are both willing to and can afford to change boats is smaller than previously. Few new boat sales means less trade ins so only benefit you have is exploiting the price differential between here and your home prices - however, do your sums properly as the only price that matters for comparison is what it costs you to get the boat to where you want to use it.

Happy hunting.

 

[Tidnock]

Those that want to sell but are not bothered will hold on and not take a market driven loss or deal chose not to deal with someone that want to pull his pants down and......

Those that need to sell but owe more than the offer would have to take your money and add to it.

Those that need to sell and own the boat are in a better position to take a low bid and liquidate the assett, that is where your buyers market is.

Its the same with most things at the moment, there are bargains to be had, houses for example, but you have to hunt high and low for them, they are not abundant, as you might mistakenly think.

 

[Nautorius]

Yes and umm no!

OK, I have been on the hunt to spend some money in the last 8 weeks and this is what I have found. Good, clean, well speced and well priced boats sell very quick. You have to be in a possition to offer straight away so get the cash/finances ready and prove it to the brokers. Then they will let you know. Also come up with a range of boats you want. More chance of getting a deal. I have recently Missed out on a 2001 Cranchi Endurance for £72k, and 2003 cranchi Zaffiro 34 for £80k and a 2004 Prestige 34HT for £99k. All immaculate and well priced and sold in a week. All 3 boats Med based.

Boats that are not clean/best spec are not moving at anything like fair price. UK Brokers still doing good sales to Euro buyers which is holding prices up. Best deals are in Spain on the CDS and Balearics at the moment. Recently missed a bargain bavaria, sold for £25k less than any other sold for (that I can see) and sold in 1 day (Sight unseen)

Still lots of boats out there where the owner will not budge and that will not sell!

Cheers

Paul