Used boat market - strange times

[Alicatt]

Ah. Scratched an itch and then got something better suited for your future needs (I'm guessing here) . My son bought a Subaru Impreza a while back and then realised he probably wouldn't have a driving licence for very much longer and went back to a Focus diesel!

My brother left me his when he passed away, Impreza WRX STi PPP, drove it to the south of France once - didn't want to do it again, nice car but was going to be too easy to loose the licence plus I had a 400bhp Rover 75 (MGZT260) I kept that and chopped the scooby in for a new Range Rover Sport, much more practical

 

[Koeketiene]

Sold our Ovni 385 and bought a Moody 46

Does this reflect a change in cruising plans? Liveaboard again?

Just made a move in the other direction - sold our Kalik 44 and bought a Standfast 36.

 

[Graham376]

Could the opposite happen? all those expensive yachts in the EU now need to be imported and VAT paid on them if they are to be kept in the UK post 1 Jan 21. So those already in the UK and for sale become a valuable asset increasing in value. Forget shares, buy boats

OTOH, VAT paid boats based in the EU should be worth more to anyone buying to cruise or base in the Med.

 

[lustyd]

The effect would be less on a boat in the EU because there are still lots of remaining states with boats VAT paid. We are the only one leaving so it's likely the effect on our market of losing the rest of the EU as buyers (of second hand boats) will be bigger and probably necessitate a 20% drop in price to match the price in the rest of the EU once VAT is added a second time. Of course, locals will still want to sell for a simlar price so the outcome will probably just be a reduced market and longer to sell. In all liklihood that will result in lower quality yachts as they languish with uninterested sellers waiting for market value.

 

[CLB]

The effect would be less on a boat in the EU because there are still lots of remaining states with boats VAT paid. We are the only one leaving so it's likely the effect on our market of losing the rest of the EU as buyers (of second hand boats) will be bigger and probably necessitate a 20% drop in price to match the price in the rest of the EU once VAT is added a second time. Of course, locals will still want to sell for a simlar price so the outcome will probably just be a reduced market and longer to sell. In all liklihood that will result in lower quality yachts as they languish with uninterested sellers waiting for market value.

Your glass really is half empty, isn't it?

Most UK based boats sell to UK based buyers, so overall the effect will be minimal.

 

[lustyd]

Oh it’s more than half empty these days!

 

[Koeketiene]

Your glass really is half empty, isn't it?

Most UK based boats sell to UK based buyers, so overall the effect will be minimal.

Most - but not all.

A UK broker friend told me that between 1/3 and 1/4 UK boats find a new owner abroad.
That's a significant portion of potential customers (not what I would call 'minimal').

 

[dom]

The effect would be less on a boat in the EU because there are still lots of remaining states with boats VAT paid. We are the only one leaving so it's likely the effect on our market of losing the rest of the EU as buyers (of second hand boats) will be bigger and probably necessitate a 20% drop in price to match the price in the rest of the EU once VAT is added a second time. Of course, locals will still want to sell for a simlar price so the outcome will probably just be a reduced market and longer to sell. In all liklihood that will result in lower quality yachts as they languish with uninterested sellers waiting for market value.

The logic here is faulty: the price of UK boats is a function of supply and demand in the UK. Previously a fair proportion of UK boats were sold to mainland Europe buyers and vice versa. Now BOTH mainland European buying of UK boats (UK market demand) and UK buying of European boats (UK market supply) will dwindle.

How this affects the supply vs. demand equilibrium is subtle and uncertain.

The forum nevertheless got fixated on the notion that quality British owned boats would soon be going for a song. It hasn't happened, hence the sense that these are "strange times" -- title of this thread.

It might not happen at all!!

 

[Hedonist]

First post here, hello all! Returning to sailing after a break of around 35 years. Looking to buy something around 40' to live on full time.
Now please tell me, am I being naive? I have spotted a few suitable boats in the last couple of weeks but, as others have said, they sold or were listed "pending sale" within a few days. All these boats were being sold by brokers within England. I was under the impression that we have a lockdown? I guess it may be that they were all bought by liveabords so they consider the same rules apply as when moving house but I doubt it. Perhaps they were all bought unseen, again I doubt it.
So, is it just me that is abiding by the guidance, or, rather, the law and avoiding non-essential travel? Also, by way of comparison, car showrooms are closed, surely there is even less justification for boat brokers to be trading?

 

[[2574]]

First post here, hello all! Returning to sailing after a break of around 35 years. Looking to buy something around 40' to live on full time.
Now please tell me, am I being naive? I have spotted a few suitable boats in the last couple of weeks but, as others have said, they sold or were listed "pending sale" within a few days. All these boats were being sold by brokers within England. I was under the impression that we have a lockdown? I guess it may be that they were all bought by liveabords so they consider the same rules apply as when moving house but I doubt it. Perhaps they were all bought unseen, again I doubt it.
So, is it just me that is abiding by the guidance, or, rather, the law and avoiding non-essential travel? Also, by way of comparison, car showrooms are closed, surely there is even less justification for boat brokers to be trading?

The summer wasn’t locked down.

 

[Hedonist]

The summer wasn’t locked down.

The time period I'm referring to was within lockdown two, like I said, the last couple of weeks.

 

[[2574]]

The time period I'm referring to was within lockdown two, like I said, the last couple of weeks.

Well yes you might have looked in the past fortnight but much of the activity referred to in earlier posts was post lockdown one but pre lockdown two, that’s when my boat sold - in four days - and I bought another one in September. So a suggestion that we’ve been non-lockdown compliant is a little unfair I think.

 

[Hedonist]

No, I have no problem with you and others who carried out their transactions when lockdown was eased in thee summer. The ones I'm referring to only appeared for sale within this latest lockdown and, apparently, sold within days. To me it would appear that people are travelling to and viewing boats against the Government rules.

 

[Blue Sunray]

No, I have no problem with you and others who carried out their transactions when lockdown was eased in thee summer. The ones I'm referring to only appeared for sale within this latest lockdown and, apparently, sold within days. To me it would appear that people are travelling to and viewing boats against the Government rules.

Oh dear, how sad, never mind.

 

[Hedonist]

Oh dear, how sad, never mind.

It is exactly that attitude that is making this virus so difficult to control. Yes it is sad but, unlike you, I do mind.

 

[steve yates]

He's making a valid point, no need to take the piss.

 

[jonic]

No, I have no problem with you and others who carried out their transactions when lockdown was eased in thee summer. The ones I'm referring to only appeared for sale within this latest lockdown and, apparently, sold within days. To me it would appear that people are travelling to and viewing boats against the Government rules.

Not necessarily.

Some boats are currently being bought unseen, using already completed virtual video tours and then the surveyor's report without any physical viewing by the purchaser. We sold recently (pre-lockdown) to a Canadian totally unseen using that method.

Additionally the standard ABYA contract is usually around 4 weeks. Two weeks to have survey, one week to reject or accept, then one week to collate ship's papers and funds and then complete. Some of these timeframes have been extended due to Covid, so you may also be seeing transactions complete that started well before the Nov 5th lockdown. Surveyors have been allowed to work (unaccompanied) during lockdown and the boatyards can still lift. We had two sales that begun in late October and subsequent post survey completions and conveyancing were all digital/virtual and via Royal Mail Special Delivery with zero contact and no travelling.

 

[Koeketiene]

No, I have no problem with you and others who carried out their transactions when lockdown was eased in thee summer. The ones I'm referring to only appeared for sale within this latest lockdown and, apparently, sold within days. To me it would appear that people are travelling to and viewing boats against the Government rules.

Rules exist to provide
- guidance for the blind
- a crutch for the lame
- a backbone for the spineless

As for everybody else, ...

 

[NotBirdseye]

Rules exist to provide
- guidance for the blind
- a crutch for the lame
- a backbone for the spineless

As for everybody else, ...

a reminder of the mistakes that led to them in the first place.

 

[newtothis]

Rules exist to provide
- guidance for the blind
- a crutch for the lame
- a backbone for the spineless

As for everybody else, ...

Yeah, that's exactly what it says in the preface to the Colregs. Let me know how you get on driving at 80 in a 30 zone on the wrong side of the road. Probably blind, lame and spineless.