Used Boat Watch Magazine

[SeaEric]

Have any of you received this http://www.mydigitalpublication.com/publication/?i=14338 by e-mail? It is the new BOAT US digital online buying guide magazine all about used boats. It is edited by Ed McNew of Powerboats Guide fame. This online "magazine" is mostly pages from the aforementioned Powerboat Guide put together in sections as "best of" models, along with "current" used pricing ranges. Of particular interest might be page 64. Check out the listed values for the 53 Hatt ED. I want one. Any sellers here??

 

[Maynard Rupp]

Yes Eric...Those are the real numbers. I would like all of the Hatteras 42'LRC owners to look at page 86 of the above listed publication. If any of you want to live in the price ranges shown as retail in this publication, I want to talk to you. Better than that, I want to buy your boat.

 

[SKYCHENEY]

I sure wouldn't sell mine at those prices. She's worth more than that to me. I guess I'll keep her.

 

[Walter P]

Wow, at those prices I may buy a couple more Hatts. Keep one in Jersey, one in Fla and one in San Diego. Ha, fat chance of pulling that off. We all know very well that the market is depressed, but let's get real. Where are these prices coming from?

Walt

 

[captbuddy]

I also look at the page with the 42 LRC. I almost passed out at my desk. They have got to be crazy. Does anyone know where he got his numbers. Would have loved to had those numbers 5 years ago when I bought me 42 LRC. And NO, Mine is not for sale at that price.
captbuddy

 

[Maynard Rupp]

I also look at the page with the 42 LRC. I almost passed out at my desk. They have got to be crazy. Does anyone know where he got his numbers. Would have loved to had those numbers 5 years ago when I bought me 42 LRC. And NO, Mine is not for sale at that price.
captbuddy

I agree, the problem is that folks think their boats should be worth what they paid 5 years ago. Those days are gone, and those boats have a lot more hours on them now. That is why the prices on YW for the 42LRCs are the same as they were in 2000 and none have sold. I don't think anybody should sell their boat for a price they are not happy with unless they NEED to sell their boat. Most boats that actually sell nowdays are boats that need to be sold, not boats that the owners might like to sell if they can get their price. Boat loans are almost impossible to get and cash buyers are not plentiful. I think those prices are valid for boats that MUST be sold for whatever reason.

 

[Maynard Rupp]

I sure wouldn't sell mine at those prices. She's worth more than that to me. I guess I'll keep her.

I agree Sky, and you should keep your beautiful boat, but if you really needed to sell your boat those are about the prices you could expect for a boat like yours, but in average condition. Your boat would certainly attract some more, but not what you would like.

 

[SKYCHENEY]

I agree Sky, and you should keep your beautiful boat, but if you really needed to sell your boat those are about the prices you could expect for a boat like yours, but in average condition. Your boat would certainly attract some more, but not what you would like.

I don't think those are actual average selling prices. I think this guy is trying to use some sort of depreciation factor. He thinks these are like used cars. That may be true for some of the throw-away boats that have been built, but not a Hatteras. Someone with actual sales data could probably tell us for sure.

At the age of some of our boats, the selling price is as unique as the boat itself. I agree that all prices are down dramatically, but the condition of the boat (and it's owners finances) has more to do with selling price than it's age. The older they get the more the prices vary. The dogs go really cheap and a pristine example of the same boat becomes more rare and harder to find.

 

[Maynard Rupp]

You are correct Sky. At least I think so. The driving force is the seller's need to unload this asset. That is why prices are differing so much. That said, I find it hard to believe that the asking price of any boat, Hats included, can remain the same in 2009 as it was in 2000. Of course, a seller can ask anything he wants, but selling the boat is a different subject. One thing is sure; if sellers would adapt the prices in that publication, their boats would sell fast.

 

[saltshaker]

Some of those numbers do seem low. The high retail numbers seem more like low to average for many of these boats. They don't seem too far off for a motivated seller. I have been thinking about moving up and realize I will be taking a whole lot less for my boat than I think its worth. I also expect to pay a lot less for the one I buy. For this season I'll keep what I've got and enjoy the upcoming season.

 

[Canuck Dennis]

There wasa 43 DC model, somewhere in the 70's era, surveyed good, some who actually knew the boat said it was a good buy, started in the high 60K range, I believe it sold for under 45K maybe less.
The market is only an idicator of what the current economy is, houses that sold for 500k 2 yrs ago, sell today for 300k will sell in a recovery at over 500k later on. Boats are a luxury item and subject to "radical" shifts in market value, if you bought your boat as an investment vehicle you made a bad investment at current market levels, same as stock market.
Current market values "the pits" your well cared for boat "Priceless"

 

[Walter P]

A few years from now many of us will be lamenting these days when Hatteras' sold for a song. Damn, I wish I had a crystal ball.

Actually even if prices don't rise much, it may still make sense for someone to buy at todays prices and try to finance as much as possible. (takes lots of guts, more than I have). With inflation which according to some experts going through the roof, you will be paying todays prices with tomorrows inflated $. As I said, I don't have the guts for it and I'm too old anyway. I like to sleep nights and by paying cash for toys it's it permits me to do so. But still.......

Walt

 

[dastahl]

I have no idea where they got the sales figures on the 42 lrcs or the 53s. I'm with Sky I'm not selling.

But I can tell you that Hatteras made 56 of these boats not 29. THey were made 1975-1986 not 1976-85. They have 112 HP DDs not 140, and the u-galley changed in 1980 not 1979.

Best part is the picture which is Skooch from the Hatteras Mark II brochure, hull number 1, first U-galley full beam aft deck 42 LRC 1980. And Maynard the list price for the 42 LRC in 1980 was about $200K.

Skooch
Floating again in Worton Creek and not for sale.

 

[Maynard Rupp]

Dastahl....I don't want to see any of our members sell their Hats. I think this is a great group. My only point on the 42LRC is that, as you said, the boat sold new for about $200,000. That was 29 years ago. How can owners think that that same boat, 5000 hours later, is now worth $250 to $300,000. They just won't sell that high. If an owner doesn't want or NEED to sell, then it is OK to try and catch a fish. I think those folks are all gone, but you can try. I think the prices listed in that publication are for owners that NEED to sell. That, fortunately does not include you or I.

 

[dastahl]

Maynard,
Its very true what you say it takes a buyer and a seller to get a boat sold or bought.

In 1998 I started closely watching the 42-48 LRCs prices and my wife and I saw each one that came on the market in North America ( I had surveyors look at the west coast boats for me) and the Caribean. We went to every rendezvous (still do). I have been aboard many LRCs. The selling prices pre-depression where pretty stable based on condition with Mark I 42s at $100-150K, Mark II at $175-225K, 48s $200K-$300K. I agree with you that today these prices will not hold.

These are old boats. But old boats have some features making them better than new boats and don;t forget a new Grand Banks is $900K. And the GB has a planing hull. THe Nordies and Krogens are the better and more expensive alternitives to the LRCs. I have never seen or heard of a Mark II selling below $125K, but I don't see them all. I have seen them sell at $200K on many occasions. Today, who knows, I bought GE stock for 6 bucks, somebody wanted to sell it.

The 48 that sold in St Loius $107K was rough and needed lots of money. I did not go see it but had people look at it. If I had realized it would have gone that low in price I would have gone out to see it. But it was listed at $199K. I agree with you that folks willing to sell lower should list the prices lower, but I really do not think owners know they will sell at that price until they are staring at a deal that gets them out. Eric on this list may agree? You and I need to confront these sellers if we want to see the real deal.

Skooch
Worton Creek MD

 

[SportFishCruising]

This truely is a difficult market for buyers & sellers both. I am in the process of trying to make a lifestyle change and am selling my house for a live aboard on a Hatteras 52C (my boat of choice). One can say, bad time to sell a house, good time to buy a boat. I'm anticipating selling my house for approx. $80K less than in normal markets, but, I am expecting to buy a boat at $80K less than it's value in normal conditions too.
I agree that one should not sell anything if one does not need to at this time. In my case, I think it kinda washes out even and maybe gives me a broader range of boats on the market open to more flexibile offers. I'm focused on 6 different listing right now but haven't given any offers until I get an offer on my house. We'll see how it goes. Wish I had done this last year though.