Your feelings on the state of the second-hand yacht market?

[Concerto]

Westerly fulmar fin keel South Coast 19k (was 24k) been on the market for 6 months. Fulmar fin keel east coast just gone on for 28k very little difference in condition age and spec. I think we will get a clearer idea of where the market is over the next few months. I have noticed a lot of boats bought during covid period back on the market often at similar prices they were bought. Lots of boats with tired sails and original engine same price as updated Re engined boats.

Very few Fulmars sell for over £30,000 but I know of a few. However there is one currently for sale at £55,000 (1997 Westerly Fulmar 33 - Bilge keel, Gosport Hampshire - boats.com) which seems steep but it is one of the last built and has had a lot of work done to it and the owner obviously wants to get his money back on what he spent. By comparison I know of 2 Fulmars bought as almost total wrecks and are being rebuilt, one is launching very shortly and the other will be a bit longer, but I have been their go to person for advice. Check out the links in my signature for more information on renovating a Fulmar.

My own Fulmar would probably sell for about £35,000 due to the massive amount of renovations and updating I have done, but has cost me a total of about £54,000. I did all the work myself and it has taken about 9 years to do, but on the plus side the biggest costs were early on and I have had the benefit of them. I cannot see me selling for another 7 to 10 years, so by that time some things will still need replacing. Do I worry about the potential loss, no. My boat has still cost only a third of the equivalent new boat when I bought and the depreciation in pounds is very similar. The big difference is the number of people who appreciate how special my Fulmar looks compared to the average condition ones on the market. How do I know? Well, Concerto was at the 2021 Southampton Boat Show and I received so many compliments about her condition. I have also assisted 8 people to buy the right Fulmar for them from those on the market. There have also been a number of occasions where I have moored close to another Fulmar and you can instantly see the difference without stepping onboard Concerto. Last year I helped 2 people buy a Fulmar and 2 others who are still looking. This year I am already helping someone downsizing from a Corsair to a Fulmar. So, hurley if you need any assistance then send me a Private Message with your contact details and exactly what you are looking for.

Generally speaking we now have a closed secondhand market for boats post Brexit. If you buy abroad, you will have to pay VAT on import, so virtually stops any purchases from Europe. The cost and long lead times for a new boat, plus the relatively small number sold in the past decade, also puts pressure on the market. Covid and Brexit have also caused a pent up demand for boats and with many boats returning to the UK from abroad causing a shortage of berths. This is now being felt on the supply and demand for secondhand boats. Prices for boats have risen, just like prices in general, and unlikely to fall much, if at all in the near future. As Jac in post #15 said. Buy now and enjoy sailing this season.

 

[hurley]

Very few Fulmars sell for over £30,000 but I know of a few. However there is one currently for sale at £55,000 (1997 Westerly Fulmar 33 - Bilge keel, Gosport Hampshire - boats.com) which seems steep but it is one of the last built and has had a lot of work done to it and the owner obviously wants to get his money back on what he spent. By comparison I know of 2 Fulmars bought as almost total wrecks and are being rebuilt, one is launching very shortly and the other will be a bit longer, but I have been their go to person for advice. Check out the links in my signature for more information on renovating a Fulmar.

My own Fulmar would probably sell for about £35,000 due to the massive amount of renovations and updating I have done, but has cost me a total of about £54,000. I did all the work myself and it has taken about 9 years to do, but on the plus side the biggest costs were early on and I have had the benefit of them. I cannot see me selling for another 7 to 10 years, so by that time some things will still need replacing. Do I worry about the potential loss, no. My boat has still cost only a third of the equivalent new boat when I bought and the depreciation in pounds is very similar. The big difference is the number of people who appreciate how special my Fulmar looks compared to the average condition ones on the market. How do I know? Well, Concerto was at the 2021 Southampton Boat Show and I received so many compliments about her condition. I have also assisted 8 people to buy the right Fulmar for them from those on the market. There have also been a number of occasions where I have moored close to another Fulmar and you can instantly see the difference without stepping onboard Concerto. Last year I helped 2 people buy a Fulmar and 2 others who are still looking. This year I am already helping someone downsizing from a Corsair to a Fulmar. So, hurley if you need any assistance then send me a Private Message with your contact details and exactly what you are looking for.

Generally speaking we now have a closed secondhand market for boats post Brexit. If you buy abroad, you will have to pay VAT on import, so virtually stops any purchases from Europe. The cost and long lead times for a new boat, plus the relatively small number sold in the past decade, also puts pressure on the market. Covid and Brexit have also caused a pent up demand for boats and with many boats returning to the UK from abroad causing a shortage of berths. This is now being felt on the supply and demand for secondhand boats. Prices for boats have risen, just like prices in general, and unlikely to fall much, if at all in the near future. As Jac in post #15 said. Buy now and enjoy sailing this season.

A very generous offer I may well take you up on your offer. Bw Nick

 

[pipemma]

Well! Lots to reply to here which will have to be later. However, just wanted to update that:

a) the selling broker of the boat we just offered on still have it listed as available on their own site and the portals many days after they told me the contracts were signed, and

b) I just gave the contractual 30 days' notice to the broker my boat is - or now was - with for sale, for sole brokerage, but offered to continue on a non-exclusive basis. He's released me from the contract with immediate effect and removed her from his site within 30 mins.

 

[pipemma]

Sorry for the delay in replying, but lots has been going on! Long story short, the boat we offered on that prompted this thread did indeed get sold to the other buyer - and it was a blessing in disguise. We have since found - and had our offer accepted on - a different boat in a completely different location, and the brokers couldn't be more different, so much more professional. So all's well that ends well. Now just need to find a surveyor with availability...