Sunseeker fire sale in Australia!

AndieMac

AndieMac

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Tough times in the boating industry has seen the winding up of Sunseeker East Coast Australia (SECA), and subsequent auctioning of the new stock vessels.

This dealership was no slouch, described as Sunseekers most successful dealership, winning the Worldwide Distributor of the Year award for 2005, 2006, 2007, 2008.

First up was a Sport Fisher 37 with 3 x 300 Mercs. Retails at GBP375,000.00 was sold for GBP142,000.00

Super Hawk 43, sold for GBP174,000.00

Super Hawk 48, sold for GBP147,000.00 (steal of the day)

Manhatten 50, sold for GBP441,000.00

Sunseeker 60, sold for GBP887,000.00 (half new price)

Predator 62, sold for GBP754,000.00

These were new boats (2008)

This auction and subsquent result has put a real frightener into the luxury boat market here. Perhaps offering the boats for private treaty sale, could have been a more prudent move.
 
Interestingly these were not all new boats, there's an article here with more details. The prices are still low as you say, but i think the SS48 is about market price for a 1999 boat.
 
I summarised a rather lengthy report in an industry publication over here called Boating Business, and the comments beside the prices were taken verbatim from that report.

Maybe the report was trying to sensationalise the situation, remembering also British boats are always sold at premium dollars. I was interested to here what you guys thought.

The same report said that the bank lost GBP1.5 mil. by letting the boats go in the auction, at the cheap prices. Could be a load of crap to make the buyers think they got a bargin.
 
[ QUOTE ]
The same report said that the bank lost GBP1.5 mil. by letting the boats go in the auction, at the cheap prices. Could be a load of crap to make the buyers think they got a bargin.

[/ QUOTE ]Now, that IS a load of crap for good, even without knowing the details.
There's always and only one reason why the banks can loose money, and that is greed.
Any journo stating that they lost money because of the auction is very likely to have a part time job in the PR dept. of the same bank.
 
I just had a look at the clicky thing you put in, interestingly nothing was mentioned about a '99 model or even a 2004 model. Probably would have taken the impact out of their story.
 
I agree with what you said about the british brands selling for premium dollars, that was certainly what i saw when i was in Sydney a few years back. I don't think Sunseeker have a paricularly large distribution network over there ( things may have chnaged). I think of all the boats there, imho the 43 stands out as good value compared with the advertised prices in the northern hemisphere
 
I'd have thought the steal was the Sportsfisher ( although we're not told its age) but on the other ones seem pretty good prices, especially for an auction. The Superhawk 48 has to be c. 1999 model year ... and 1999 models could be got for that price in 2001 .. not that that reflects the Oceanic market.
 
Like most places, we had a particuarly good economic period for the few years preceeding '08. Things were booming like never before, the market was just right for the top end luxury items.

This is through the eyes of a local, any European coming over here to a country with such a small population (London), after being used to the glamour of the Med. would wonder what the fuss is about.

Again the dealership dist. thing was lifted straight out of the mag.

I haven't researched European prices, the boats are usually way to expensive. Thanks for the feedback though. /forums/images/graemlins/smile.gif
 
That's a fair point, the 37 does have new engines so looks reasonable value considering. I'm sure i've seen one up for circa 175k in US waters, not sure they're many about in Europe?
 
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