The capital of Repos is....Gibraltar!

Nautorius

Nautorius

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24 Jun 2003
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Have been noticing lots of new boats turning up here lately. After a bit of searching they are nearly all Repos! Seems the Repos from the Med are moved to Gib as it is safer to hold them in UK waters (especially since africa is only miles away)

Anyway here are a few deals;

Sunseeker Portofino 46 for £295k Ex VAT This is a lovely boat that is moored outside my window!

Fancy Something Bigger...a 76ft Elegance for £850k Ex VAT

or maybe a Sealins T60 that has not been repod for €550k Taxes Paid!

There are many more here and they are all larger craft over 60ft.

Unfortunately no Cranchis yet!

So if looking for a Repo in the Med head down to Gib!

Cheers

Paul /forums/images/graemlins/smile.gif
 
Nice boats but wouldn't say they were exceptionally cheap, I'd say pretty much on par with non repo.

on the Sunny you can get some substanial discounts at the moment on a new 47 which makes a three year old 46 at £340k inc tax look quite rich.

The Elegance was around £1.2m ten years ago so £850k also looks a bit top heavy
 
Thanks Trev,

The boats are available for substantially less! They have to prove to the Finance Houses they tried to get the best price, hence the asking price but all offers are being considered.

I did not Realise the SP47Ht was being discounted so much!

Marina Marbella seem to be doing a roaring trade in Absolutes still, some people are still spending!

Paul /forums/images/graemlins/smile.gif
 
Ah ha , the ole story then ;-) at a guess the 46 could be around £270k inc tax to move it at the moment, there's a good 20 or so of them for sale at the minute, good boat though and at the right money a good buy for some one.

yes MM are doing a good trade at the moment, good chaps on the ABS side, Chris especially. I think they like other ABS dealers have benefited from the low volumes that ABS are producing at the moment, in fact the yard cut production way before anyone else did so not lots of stock sitting around, if you want one you have to pay for it as there are not masses of them for sale.

I ve said it before and not for commercial purposes just as an objective business observation, some builders are heaping up a lot of trouble for themselves at a later date, with the discounts that have been pushed out the door and margins stripped to nothing or less somethings got to go pop, they are still believing that things will go back to what they were and producing way to much product which has to be sold to cover O/H's. A few have been cash rich for a while and that has been covering the loses but that has got to run out at some point if not already. You can imagine the wage bill for 500 staff ( £1m + ) every month never mind the O/H's and servicing loan repayments, that is a lot of boats to shift and they are not shifting in those numbers or anything like it.

They are also killing 20 / 30 /40 years of brand reputation, no longer can any builder (bar a few exceptions) claim they have the highest residuals, there is no such thing anymore when you have factories undercutting 12 month and two year old boats for sale with brand new stock. I feel really sorry for thos e people that bought in thinking they had a good investment a couple of years ago, they have seen shed loads wiped off the value of their pride and joy and worse the yards don't seem to give a monkey's !.

It ain't over yet !
 
Apparently lots of people who bought on the leasing schemes to reduce tax, are now deciding to walk away from the boat as its value has fallen below the balance of the leasing. I assume the schemes must only be secured on the boat, with no further obligation on the owner.

I was chatting to the owner of an Aicon 56 along the quay from me. He has done less than 50 hours in 2 yrs and wants rid of the boat, but as a euro buyer/seller, he's facing up to 50% depreciation.
 
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