I’m thinking it’s more likely that the reality of our current economic situation set in two weeks ago when the stock market fell (and as of today is still falling) Bitcoin collapsed, and diesel fuel prices spiked. Add the supply chain shortages for any parts, much less old ones, then the lack of qualified repair personnel, shrinking dockage availability, along with the difficulty in finding insurance for boats over 20 years old and I can’t imagine anyone buying a old boat for any price.Back during our 2007-2013 recession that wiped most boat builders off the map- we Miami yacht brokers had our best years ever due to foreign buyers swooping in and vacuuming up any, and everything that could be put on a ship. There’s NO foreign buyers now.I think the Plandemic economic bounce is over.
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Thread: 1973 53’ Motoryacht
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06-28-2022 02:41 PM #21
Re: 1973 53’ Motoryacht
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06-28-2022 03:17 PM #22Registered Member
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- Jun 2022
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Re: 1973 53’ Motoryacht
I can relate. Im in South Florida, im not a slacker by any means. I see patients in the office all week, pay the bills. 401k/retirement accounts don't matter for another 20 years here. BTC same. No rent or mortgage, no car payments. In the market for a 53 MY myself.
In the keys, there is a huge shortage of qualified repair men (craftsmen that take pride in their work). Heck even restaurants are struggling to operate so imagine getting a bottom job or repowering.
Marinas at less than 50 % capacity asking 35$ a foot in marathon for no on site showers or rec center or security, uncovered.
Diesel and insurance for a 50 year old machine, forget it. Lot of head winds.
So when I go see these machines, I scratch my head and wonder, how can I make a fair offer without having a survey of hull and machinery done before hand?
The values in these is in the machines and structural hull, cant make a fair offer without that data.
Heck you cant get bypass surgery without a heart Cath first.
I understand that they don't want to waste time, but these offer contracts prior to a survey leak like a sieve.
And brokers, man these guys don't seem to be in a hurry to move these boats (the MYs).
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06-28-2022 03:43 PM #23
Re: 1973 53’ Motoryacht
Don’t blame the brokers because for them to get a listing which makes the phones ring (look how old I am), one has to follow the instructions of the owner. If one gives honest counsel to them, they’ll just go list the boat with a brokerage who will tell them what they want to hear, so the truth still doesn’t make it to the public.
What’s worse is that brokers get pigeon holed into only having listings of the same brands as “like attracts only like” which was great when said brands were new or “not so old” and could still pass surveys. Frank Gordon and I used to have this same conversation eight years ago. “Why bother if there’s no dockage OR the boats won’t pass surveys?”
Frank got trapped into Hatteras, and I got trapped in Brunswick Products. I retired.
As far as qualified workers, that’s always been a problem in the Keys, but now it’s in ALL of the Yachting Centers in the USA. My son (Captain of a 118’er in Coral Gables) took a break from the sun this year by doing boat repairs for desperate yacht owners, and although he made a fortune, even he got tired of their desperation of needing immediate repairs on their yachts (mostly Italian or “swoopy”), that had just left boat yards with botched “repairs” after paying yard bills of hundreds of thousands of dollars on fairly new boats! They would fly him to their boats, put him in very nice hotels, give tips of thousands of dollars-ONLY to be thwarted by “sorry, those parts are on back order”.
He’s back on the boat now.Last edited by Retired1; 06-28-2022 at 04:38 PM.
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Re: 1973 53’ Motoryacht
“Marinas at 50% capacity”. Maybe in marathon but here in Miami the wait list are pretty long especially for slips 50 and up. Very hard to find and $35 a foot would be a bargain.
I don’t think anyone can tell what the future holds. That said The economy is going down the drain with record Carter-esque inflation and zero growth. Am I the only one thinking that Q2 GDP is going to be pretty ugly?
Add the stock market and I doubt the used boat market is going to be hot in the next couple of years.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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06-28-2022 04:40 PM #25
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Re: 1973 53’ Motoryacht
Second showing today. Now "Sale Pending"
Eric
41TC 1966 Hull #53 "Requisite"
Kent Island, MD/Ft. Lauderdale, FL
"Though she creaks - She holds"
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07-01-2022 09:14 PM #27
Re: 1973 53’ Motoryacht
Nah it’ll sell. I have had people leave random notes on my boat saying ‘if you ever want to sell here’s my number’ a couple times in the last year and Eric’s listing is nicer than mine. Insurance is a non-issue outside of Florida, and not that big of an issue in Florida except everybody switching from GEICO who will no longer write boats over 50’ south of Georgia.
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07-22-2022 04:20 PM #28Senior Member
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- Jan 2007
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Re: 1973 53’ Motoryacht
https://www.yachtworld.com/yacht/197...yacht-8354083/
Still pending?
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Re: 1973 53’ Motoryacht
I wanted to let anyone that is interested be aware that we closed on this boat today. She sold to the second person to see her. She would have sold to the first - but thats a longer story. Survey was near perfect and there were no price adjustments. The seller did replace a battery bank that had checked out to be weak. The final selling price was $198,500. which was the asking price.
Eric
41TC 1966 Hull #53 "Requisite"
Kent Island, MD/Ft. Lauderdale, FL
"Though she creaks - She holds"