Pascoe: the boat market

[Roscoe]

Guest Post:
On January 14, 2008, David you succinctly pointed out that these auctions; “aren’t auctions but merely a secondary market with unusual selling conditions”. And, it’s these unusual conditions that contribute to the market degradation. What does minimum bid mean? The operators that practice this model will accept any offer, accompanied by a deposit, (no matter how far below this minimum) and submit it to their client for consideration, hoping for acceptance or at least a counter. Does it mean that you can buy the boat today at this price? No. Does it mean that you can buy the boat today at any price? No, it simply means that your offer enters an opaque process where you loose the competitive advantage of a transparent trade.

Boat Notes:
I received an email from a yacht broker concerning my commentary about Yachtworld, pointing out that many of its listings are phony with attempts to manipulate price. I’ve no doubt he’s correct but I didn’t think it could be so pervasive in the face of crashing prices. However, when I consider the fraudulent and absurd statistics published by the National Association of Realtors, then I can understand why Yachtworld listing prices are much the same today as three years ago. Since they were bought out by Trader Publications, its only gotten worse. There is still very little reflection of reality in those asking prices.


The reality is that throughout recessions of the past, published asking prices have never fallen and actual sales prices are regarded as top secret. Unfortunately for them, the brokers and dealers are now past the breaking point. I’ve gotten a number of reports of some big hot-shot dealers having lost floor plan credit, which means their days are numbered. And unlike past recessions, this time around the big yachts are being hit hard

http://davidpascoeblog.com/2008/12/10/boat-notes/

[krush]

Pascoe is so damn arrogant that he doesn't even realize he is clueless half the time and often writes incoherent drivel when he puts pen to paper.

He should stick to what he knows, surveying boats---and even then he isn't all knowing.

[jmccubbin]

It really disturbs me when someone pounces on someone for voicing his opinion...either right or wrong. You can disagree and state so as you have, but by going farther and stating that he should not be voicing his opinion and stick to his job.... be it correct or not goes against the very basis of what this Country was found on.....Disagree, debate, but don't make a person feel that he should not voice his thoughts, opinions, or commentary. Spirited debate is cool....He deserves credit for putting it out there. Compliment the intent....disagree with the content...but never tell someone not to do so....that is so uncool.

[Passages]

I've been reading Pascoe since 2003. Bought 2 of his books. His writting style is direct, and opinionated. I do not agree with everything he says ( his endorsement of Walker Air Seps Systems and the need to stockpile gold & silver coins for example) but he's right more than he's wrong and you would be foolish to dismiss him out-of -hand.

[krush]

I do not have much respect for people that communicate with absolutes. Expressing an opinion is fine, but when somebody claims that their way is the only way is intellectually dishonest.

The internet is a wonderful thing, but it has created way to many internet experts and I swear it has made the population dumber in many regards. People like Pascoe often spread tons of misinformation, and it is my OPINION that such an act is deplorable.

I have his books too. There is a lot of great information in them. There is also quite a bit of misinformation in them too. Apparently the guy is a self taught engineer.

[nyrussell]

Ahhh, but denigrating a person is okay.... And the language!!!! Shame!!!!


LOL awaiting more news (hopefully better)

[krush]

If you have a problem with my choice of words, then don't read them. Surely your eyeballs will not burn because of my unrefined diction.

Denigrating? Where? Are you this whiny in person *sigh*

[Bugsy]

Hey Krush.

Go back and read a few of your posts.

Did you realize that you express your thoughts in "absolutes" (not the alcoholic variety)?

Labeling them as "opinions" after the fact doesn't alter the tone.

From the sidelines.

The "Bug Man".