Will prices crash on older Hatteras motor yachts ?
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Thread: Prices
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04-14-2020 08:33 PM #1Senior Member
- Join Date
- Dec 2014
- Posts
- 406
Prices
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04-14-2020 09:01 PM #2
Re: Prices
I'd buy now. With the lower fuel cost I see prices jumping up quickly.
Scott
41C117 "Hattatude"
Port Canaveral Florida.
Marine Electronics and Electrical Products Distributor.
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Re: Prices
You mean worse than they already were?
I was offered a 67 foot custom sportfish today for probably $1 mil less than it was worth 6 weeks ago, settlement needs to be in 7 days or less. Unfortunately it was still way out of my league. Just the first of many......CRICKET
1966 HAT50C101
Purchased 1985 12v71Ns
Repowered 1989 with 8v92TI
Repowered 2001 with 3406E
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Re: Prices
Given the current pandemic, it's a buyers market on pretty much anything that floats.
Randy Register - Kingston, TN
www.yachtrelocation.com
www.Safes4Guns.com
aka Freebird aka Sparky1
1965 41DC #93
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04-15-2020 08:03 AM #5Senior Member
- Join Date
- Jul 2013
- Posts
- 1,188
Re: Prices
Certain boats will definitely be on fire sale, kinda like the one Cricket mentioned. Some people are unaffected (at least for the moment) financially from this mess, others incomes and retirements basically evaporated/vanished right in front of their eyes.
Seems like I've seen lots of oil money boats going up for sale lately, several at deep discounts. The older hats are probably already fairly deeply depressed before all this started. But at the end of the day a good boat that's well maintained and updated will still bring a premium price UNLESS the owner has to move the boat TODAY and then the price will drop accordingly. But when this happens you have to be ready to jump on the deal with cash, most fire sale boats don't hang around long enough for people to finance.SOUTHPAWS
1986 52C Hull #391 8v92TI
PENSACOLA, FL
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Re: Prices
One thing is sure nothing is going to sell in the next two or three months depending on how long this mass hysteria goes on. After that it will depend on how things rebound. Unless we see a rapid sharp recovery, boat values will be in gutter for a while.
Pascal
Miami, FL
1970 53 MY #325 Cummins 6CTAs
2014 26' gaff rigged sloop
2007 Sandbarhopper 13
12' Westphal Cat boat
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04-15-2020 09:10 AM #7
Re: Prices
According to my broker here in NY market went dead day all this this started. This is busy time of year - end of February brokerage firm getting about about 30 calls a day, now lucky to get one. Told me just other day they had deal in works with very wealthy client they had been working on past 5 months for a brand new high performance 53' center console with 4 outboards for 2.3 million. They offered it to him for 1.4 million last week and said he just couldn't 'engage' given current state of market. Supposedly buyer tons of money in bank, but to him just didn't feel right. Anyway, thought I had picked the right year to sell my 43DC, guess not. I've dropped price from $70k to $60k and probably need to drop to $50k just to get a bite.
Scott
1976 43DCFB ,Hull #428, “Exodus”
Long Island, NY
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Re: Prices
Boat surveys have slowed way down but have not stopped completely. I am still do a couple per week, however I do not allow anyone to be onboard with me and we can’t do haul outs do to the yards being closed. Insurance companies are accepting divers reports with video for the bottoms, something they hardly ever did before. I have to review the videos and make comments. I actually am surprised at the number of sales that are occurring. John
Mahalo V
1974 53 Motoryacht
Hull Number 406
San Diego, Ca. Ready 32 Nordic Tug, Brunswick Ga.
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04-15-2020 11:03 AM #9Senior Member
- Join Date
- Jul 2013
- Posts
- 1,188
Re: Prices
I have talked to several boat dealers/reps over the last week or so and I'm surprised at how many sales are being made.
On a side note, during this downturn we got the wife a new suv and I know of 2 other people who have purchased new vehicles in the last few weeks. So some money is moving, just not as much as usual.
One of my business is chugging along with no cash flow interruptions (yet). The other went from a record jan/feb to ABSOLUTE ZERO halfway through feb. The orders quit coming in, the phones quit ringing, just completely shut off. Over the last week orders have started trickling in and the phones have started ringing again.
Crazy how business works like that... A great case study of the need for diversification in business.Last edited by rustybucket; 04-15-2020 at 11:11 AM.
SOUTHPAWS
1986 52C Hull #391 8v92TI
PENSACOLA, FL
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Re: Prices
Randy Register - Kingston, TN
www.yachtrelocation.com
www.Safes4Guns.com
aka Freebird aka Sparky1
1965 41DC #93