Thinking about Buying a second hand Yacht

[hurley]

Hi after a 10 year yacht sabbatical we are thinking of getting another yacht on the East Coast. Looking at around about the 20k budget wise maybe a moody 27 or 31 just to give you some idea of the type of boat.

My question is that I haven't been following the market for a while so I'm wondering if or how it's been affected by the ovid lockdown and staycations.

I'm not in a rush to buy, as I was thinking more about next season.

Thanks for any help, advice or just any thoughts on the matter.

Best Wishes Nick

 

[ex-Gladys]

Been a seller's market all through lockdowns, the broker I used to sell Gladys had only 20 odd boats on his books instead of the expected 75 when she was listed. Offers are going in above asking price...

 

[Blueboatman]

You might want to email any brokers you like and let them notify you if something specific and particularly good pops up ..
Lots of the better examples are selling without appearing to be coming to open market ( at this time…)
But with inflation doing it’s thing , and uninvested capital kinda simultaneously devaluing , new boats’ material and components costs are only going to ascend more, so who knows just how long the Yeehaa Bonanza s/h yacht market may actually continue- a while yet ??

 

[alandalus11]

It appears having spoken to various brokers that the pandemic has created a huge demand in boats, caravans, motorhomes as people have not been able to go away and have been looking at ways of holidaying in the UK. You speak to any marina on the south coast and they will tell you that people have bought boats and are just taking up marina space as they are using them as floating second homes. That makes things difficult for true boaters to be able to visit other places due to boats not leaving. Boats are being sold at ridiculous prices. Personally If I was to get back into boating in my opinion I would leave it for a season or two and once these people start to realise the costs of maintaining their boats and marina fees become due and they want to start taking their holidays abroad, there will be boats back on the market at lower prices as they try to offload.

 

[sailorman]

It appears having spoken to various brokers that the pandemic has created a huge demand in boats, caravans, motorhomes as people have not been able to go away and have been looking at ways of holidaying in the UK. You speak to any marina on the south coast and they will tell you that people have bought boats and are just taking up marina space as they are using them as floating second homes. That makes things difficult for true boaters to be able to visit other places due to boats not leaving. Boats are being sold at ridiculous prices. Personally If I was to get back into boating in my opinion I would leave it for a season or two and once these people start to realise the costs of maintaining their boats and marina fees become due and they want to start taking their holidays abroad, there will be boats back on the market at lower prices as they try to offload.

Fys told me when puntwrs come in they dont ask how much us the boat only intereated in how much a monthis it. Folk not having commuting costs have a fist full of $.

 

[Concerto]

Hi after a 10 year yacht sabbatical we are thinking of getting another yacht on the East Coast. Looking at around about the 20k budget wise maybe a moody 27 or 31 just to give you some idea of the type of boat.

My question is that I haven't been following the market for a while so I'm wondering if or how it's been affected by the ovid lockdown and staycations.

I'm not in a rush to buy, as I was thinking more about next season.

Thanks for any help, advice or just any thoughts on the matter.

Best Wishes Nick

Nick

Definitely check with brokers, but do not forget owners association web sites usually have a boats for sale section.

Try and decide what you really want from a boat. What features are essential and what would be nice. If you want a bit better performance then choose a fin keel over twin keels.

For your budget you will certainly be more in the 30 to 40 year old boat section, which means they will not be in a like new condition. You should consider most of the British builders like Moody, Westerly, Hunter, Sadler, Nicholson, etc. as they hold their prices better than some other brands and are easier to resell later.

Condition will always be the most important factor in any second hand boat. A do'er upper will always cost far more than you expect, usually more than buying one in the best condition. It will also eat into your sailing time, even if you have the time to do most of the work yourself.

Before you take the plunge to buy again, check out where you want to moor as some places are fairly full - even with boatyards still with plenty of boats ashore. It might be worth joining a club and sailing as crew on other peoples boats. This will ease you back in and may lead to insider knowledge of boats in the club coming on the market.

As others have already said, it is a sellers market at present. So if you do find the right boat for you, then make an instant decision. There was a Westerly Ocean 33 on the market recently and the agent had 4 full asking price offers within 24 hour of being listed - and no one had actually seen the boat, only the photos.

So do plenty of research and try and formulate which boats most interest you and the prices being asked. If you are not sure you can still ask more questions here and get a variety of answers - some good and some bad, but that is usual on a forum.

I am an expert of the Westerly Fulmar and have helped 5 people with direct advice on which one to buy and am currently working with another person trying to buy one at present. My own Fulmar will be at the Southampton Boat Show as the Westerly Owners Association boat at the show. She has been almost fully restored to a like new condition over the past 7 years. This link will give you an idea of the improvements to Jan 2020, but a lot more has been done recently. https://wiki.westerly-owners.co.uk/images/3/3f/Concerto.pdf

Best of luck.

 

[hurley]

Nick

Definitely check with brokers, but do not forget owners association web sites usually have a boats for sale section.

Try and decide what you really want from a boat. What features are essential and what would be nice. If you want a bit better performance then choose a fin keel over twin keels.

For your budget you will certainly be more in the 30 to 40 year old boat section, which means they will not be in a like new condition. You should consider most of the British builders like Moody, Westerly, Hunter, Sadler, Nicholson, etc. as they hold their prices better than some other brands and are easier to resell later.

Condition will always be the most important factor in any second hand boat. A do'er upper will always cost far more than you expect, usually more than buying one in the best condition. It will also eat into your sailing time, even if you have the time to do most of the work yourself.

Before you take the plunge to buy again, check out where you want to moor as some places are fairly full - even with boatyards still with plenty of boats ashore. It might be worth joining a club and sailing as crew on other peoples boats. This will ease you back in and may lead to insider knowledge of boats in the club coming on the market.

As others have already said, it is a sellers market at present. So if you do find the right boat for you, then make an instant decision. There was a Westerly Ocean 33 on the market recently and the agent had 4 full asking price offers within 24 hour of being listed - and no one had actually seen the boat, only the photos.

So do plenty of research and try and formulate which boats most interest you and the prices being asked. If you are not sure you can still ask more questions here and get a variety of answers - some good and some bad, but that is usual on a forum.

I am an expert of the Westerly Fulmar and have helped 5 people with direct advice on which one to buy and am currently working with another person trying to buy one at present. My own Fulmar will be at the Southampton Boat Show as the Westerly Owners Association boat at the show. She has been almost fully restored to a like new condition over the past 7 years. This link will give you an idea of the improvements to Jan 2020, but a lot more has been done recently. https://wiki.westerly-owners.co.uk/images/3/3f/Concerto.pdf

Best of luck.

What an insightful reply, thank you so much for you very well thought out response. Certainly I am not in too much of a rush so have the luxury of being able to look around a bit. I will mull over your thoughts over the next few days/weeks. Kid regards Nick

 

[Paulfireblade]

Some very good advice above and if you can wait it is a crazy market at the moment, a Dufour I enquired about within 10 hours of being listed had two buyers offering a 10% deposit over the phone unseen within 45 minutes of the listing going live.

 

[Bigplumbs]

It appears having spoken to various brokers that the pandemic has created a huge demand in boats, caravans, motorhomes as people have not been able to go away and have been looking at ways of holidaying in the UK. You speak to any marina on the south coast and they will tell you that people have bought boats and are just taking up marina space as they are using them as floating second homes. That makes things difficult for true boaters to be able to visit other places due to boats not leaving. Boats are being sold at ridiculous prices. Personally If I was to get back into boating in my opinion I would leave it for a season or two and once these people start to realise the costs of maintaining their boats and marina fees become due and they want to start taking their holidays abroad, there will be boats back on the market at lower prices as they try to offload.

my thoughts exactly

 

[Gwylan]

Hi after a 10 year yacht sabbatical we are thinking of getting another yacht on the East Coast. Looking at around about the 20k budget wise maybe a moody 27 or 31 just to give you some idea of the type of boat.

My question is that I haven't been following the market for a while so I'm wondering if or how it's been affected by the ovid lockdown and staycations.

I'm not in a rush to buy, as I was thinking more about next season.

Thanks for any help, advice or just any thoughts on the matter.

Best Wishes Nick

Go to the bank, draw out £5k in £5 notes.

Go home, take all your clothes off, get in the shower with the £5 notes.

Turn the shower full on at cold. Sit down in the shower and systematically tear up the £5 notes. If necessary get a pair of scissors.
Each particle has to go down the drain.

You have experienced sailing at the rough edge At the end of this process you might reflect on your decision.
And change your mind. You will still have £15k of your budget. The remaining £5k will come back to you in savings over the next 12 months or sooner.

 

[Tomahawk]

That is soooooo true unkind

 

[Greemble]

Go to the bank, draw out £5k in £5 notes.

Go home, take all your clothes off, get in the shower with the £5 notes.

Turn the shower full on at cold. Sit down in the shower and systematically tear up the £5 notes. If necessary get a pair of scissors.
Each particle has to go down the drain.

You have experienced sailing at the rough edge At the end of this process you might reflect on your decision.
And change your mind. You will still have £15k of your budget. The remaining £5k will come back to you in savings over the next 12 months or sooner.

Minor detail, but for a closer experience, keep your clothes on.

And have a bucket of cold water thrown at you at irregular intervals.

If you can sit at an angle on a rocking chair as well, all the better.