The boat market seems to be improving

[SeaEric]

We've sold a dozen boats in the last four weeks. All sizes and price ranges. Properly priced, well maintained boats are moving.

 

[OBXTucker]

I starred in that movie! Thanks Eric - ya'll did a great job on the transaction!

 

[krush]

I'm licking my chops. By the time I get back to the states, a nice convert will be right in my price range....

 

[ThirdHatt]

I'm licking my chops. By the time I get back to the states, a nice convert will be right in my price range....

Aren't you gone for like two years? They may be bouncing back by then!

Start looking NOW!!!

 

[SeaEric]

The nice boats are selling, or have already sold. The junk lingers. The good (or bad) news- I don't see prices rising. The "free fall" in prices seems to have ended.

 

[nyrussell]

That is not bad news though, At least we can stop peeking then between our fingers... Though Bloomburg's picture was not so rosy today either so....

Hides again...

 

[krush]

Aren't you gone for like two years? They may be bouncing back by then!

Start looking NOW!!!

I doubt it. How many years did it take to recover from the Great Depression?

 

[Pascal]

yeah, but back then the country didn't the Messiah...

 

[ThirdHatt]

I doubt it. How many years did it take to recover from the Great Depression?

The point is that as our resident expert broker said, prices have pretty much stopped falling. This is at or near the bottom, so waiting until you come back in a couple years and hoping the convertible prices will be much less may be futile. The best boat deals may be gone.

 

[Flick]

Eric,
Out of the dozen sold, were they all cash deals? Financing still seems pretty tight.

 

[Genesis]

Nothing goes in a straight line.

10% unemployment (reported) and a real loss of 1 million jobs a month two months running, plus the chinese lack of exports (read: no demand for Christmas) means the "suck" has a pause in it, but is not over.

Caution is advised.

 

[Passages]

So we HAVE to buy our boat NOW or all the good boats will be gone?
There will be ZERO nice boats for sale next year?

Why does that sound like a familar pitch?

 

[SportFishCruising]

Get it while it's wet! LOL

 

[nyrussell]

Nothing goes in a straight line.

10% unemployment (reported) and a real loss of 1 million jobs a month two months running, plus the chinese lack of exports (read: no demand for Christmas) means the "suck" has a pause in it, but is not over.

Caution is advised.

No, this means wait and see if you can. We are still not out of it.

 

[saltshaker]

If the price is right and the boat is right, buy it. Waiting for the price to fall even more is smart if you are investing but who here believes their boats are a smart capital investment. The time you loose not owning and enjoying a boat will never come back. Prices may fall a bit more and maybe you'll get lucky and time the bottom just right. In the meantime instead of enjoying your new to you yacht, you're watching boats like they're stocks.

 

[nyrussell]

Jack,

My point is Krush is out for 2 years, and so has a good time frame to work within. I am sure we would all let him know if the market is changing big time. In the meantime, unless he is in a hurry (and can afford to ship the boat back and forth) he can always start kicking the tires seriously,

 

[SeaEric]

Only one of my recent sales have been financed. All the others were cash, one was a home equity deal on an otherwise paid for house. (Cash to us, no lien on the boat)

Certainly there will always be boats for sale. Perhaps, if you wait long enough and shop long enough the prices will go lower.

In the meantime, I'll be on my boat. Somehow, I don't seem to age as quickly when I'm aboard. Anything that tends to slow that clock down works for me.

 

[saltshaker]

Jack,

My point is Krush is out for 2 years, and so has a good time frame to work within. I am sure we would all let him know if the market is changing big time. In the meantime, unless he is in a hurry (and can afford to ship the boat back and forth) he can always start kicking the tires seriously,

Krush should wait as he has no need for the boat right now. My point was that the market has stabilized somewhat and may continue to decline. If you really want a boat buy it and start enjoying it. You can always make more money but you can't make more time. My boat has been out of commission since mid August. We're upset more about the loss use of the boat than we are of the money lost.

 

[Passages]

Krush should wait as he has no need for the boat right now. My point was that the market has stabilized somewhat and may continue to decline. If you really want a boat buy it and start enjoying it. You can always make more money but you can't make more time. My boat has been out of commission since mid August. We're upset more about the loss use of the boat than we are of the money lost.

Agreed, Krush has time on his side. In fact, we all have time on our side. If you see a boat you like, make an offer. That said, there will be other boats you will like in 2010 or 11.

It's kind of like the boat salesman pitching "buy now or these deals will be gone" What's not said it 'while these deals will be gone, there will be better deals next year.

Course, Eric is right too, you could spend the rest of your life waiting for the perfect deal, meanwhile your stuck on land saying 'someday...'

 

[GJH]

Well, sure, if you wait forever then you will have saved the entire purchase cost and all the operating and maintenance cost; owning a boat will have cost you nothing. I'm with Jack on this one. In our case we had a two year window of opportunity to go boating, something we wanted to make sure we did while still healthy. If we waited, we would be much wealthier (less poor?) than we are today, but have likely lost that once in a lifetime experience. Like the old saws say, you only go around once, and who knows for how long?

On the other hand, if that window doesn't open for you until 2 years in the future, I certainly wouldn't worry about the" good boats being gone". Buy the boat when you are ready to enjoy it; no sooner and no later.