The New Hatteras Yadhts

[saltshaker]

Viking is doing it and I'm pretty sure they're making money as they keep expanding the line in that size range. Viking recently purchased Ocean Yachts mainly for its facilities. The Ocean plant will be used for Vikings smaller boats including a Viking built version of the Ocean 37 Billfish. I doubt Viking would spend so much focusing on a market that doesn't exist or isn't profitable. When the big three stopped building small to mid sized boats the market was booming and they didn't care about giving up that market share. That's no longer the case and the lack of smaller boats in the model line leaves you with only a few customers for the big boats and most of the big boat customers have gone to custom SF or other brand MYs

 

[GJH]

Pascal, I would submit your view of the MY market is extremely distorted. Go to any other big boat market in the country and you will see very very few Italian and other Euro boats. Many if not most of those boats you see are owned by Europeans or rich South Americans. A lot of the Asian boats moved in when Hatteras was very weak, brands like OA, Hargrave, Fleming, Outer reef, Offshore etc, etc, etc. Ironically most of those have very classic lines. Lazzara is no more, BTW.

Interesting enough the locals here say a good number of the new boats both SF and MY are going to the Middle East and south.

I think the new management of Hatteras understands the wealth distribution in this country, which is quite different than it was in Hatt's glory days , and is approaching that in the so-called "Emerging Market" 3rd world countries. Even with that imbalance the "Top 5%" is still around 6 million households in the US. They're selling boats to someone, because the sheds are pretty full over there, and there seems to be a lot more cruising down the Neuse than just 3 or 4 years ago. I'd guess they've decided to leave the bottom of the MY market to others, and be a profitable second place to Viking in the SF market (if you count all the custom builders as one, then probably third place).

 

[Fanfare]

Alright--I would buy a new Hatteras MY in the 50-55 ft range at 1.5-2 million if they made it. Cats or Cummins, no MANs. Hopefully in the Hargrave style but with modern efficiencies.

I love my 50MY--it's the perfect Bahamas boat. Two of us can handle it. Can sleep 8 in relative comfort. She's in great shape following her 50th birthday refit. But she has old bones. I would like to replace all of her wiring, all her copper pipes--fuel, fresh water, steering. But I can't get at these, so I fix things only as they break. For 50 years not too much has broken--but I worry. It's remarkable how this boat has lasted. You really get your money's worth with a Hatteras! Getting insurance is difficult and puts me at the mercy of underwriting idiots. While I could buy a replacement Hatteras of this vintage and size at a great price I would have to put probably $750,000 into duplicating what I have now. And that is hoping that the replacement boat has not been butchered by owners thinking they are naval architects.

The biggest argument against buying a new boat would be my age. I'm 72 next month. Would I have enough time left to use my next boat, to amortize that showroom premium before the next owner takes over? Will my children have the interest, time and money to keep her?

I love being on my boat. It's been a terrible investment. If I had all the money spent on Fanfare over the years back I could probably pay cash for that new Hatt. My son and his family arrive this afternoon, Monday we start down from Spanish Wells to the Exumas. Tomorrow I am taking three grandchildren, ages 16 to 8, fishing and snorkeling. We are going to have a grand time. When they leave our daughter's family, two grandchildren, join us for two weeks. They will never forget these experiences. It's worth every penny. I just hope the boat doesn't sink. I'm not in any hurry for that new Hatteras. But I hope they will start designing and tooling for it now, just in case.

 

[Boatsb]

Jack and Jim you ate correct. The convertible market is different and Hatteras is starting to look at it. It's very different from the MY market though.

 

[jim rosenthal]

What I wish they would build is a new HATTERAS convertible in the 46 foot range; not a rehashed Cabo, but a new Hatteras that looks like the 54 and 60 boats. And with MYs selling briskly, I think they could sell a 50MY too.

As long as they make money on them, why not? As said above, essentially this is an investment in future customers. The Viking success has shown this is a worthwhile strategy.

 

[Pascal]

George

You re right about the Miami local market but sofl and the bahamas is where a huge number of boats over 50/60 migrate to in winter so what we see down here it is somewhat a represntarive sampling of the US east coast market.

 

[Pascal]

Jim

Hope to run into Fanfare in the next couple of weeks... We heading crossing Monday, clearing at Cat, then heading straight to the Exumas. No set plan for the we yet except that we are picking up a charter in Gtown on Sat. Will definitely stop at Staniel on the way down. Will Keep an eye out for Fanfare!

Your comment about the 50 (or 53) being the perfect boat for the bahamas are right on target. This is why I decided to complelty redo mine. Hoping to be bahamas ready next year around spring

 

[Nightingale]

If customers are wiling to spend 1 mil plus on a 45' Sea Ray or Cruisers, I think there's a market for a mid sized quality Hatt MY and Convertible. I just brought a boat into Palm Beach boat show and there are a lot of mid 40' Convertibles in attendance.