Boat prices/value.

[Blue Heron]

So what is the opinion of boat values versus inventory now after Isaac and Sandy?

I am thinking that loss
of hulls will drive values up. On the other hand this could be an alignment of poorly maintained hulls now lost so what remains is actual best for value?

 

[DavidM]

Isaac and Sandy took a very small percentage of the northeast boats out of circulation, so I don't think that will have much of an effect.

In general boats have lost 30-50% of their value because people no longer use the equity in their homes to buy discretionary stuff. That and the lack of jobs took a huge chunk of demand out of the market.

We are now more or less back in balance. Home prices are beginning to rise across the country. Boat prices will rise too, but like homes, very slowly and the rise will be in line with the general economy- very slow.

David

 

[Forkliftt]

And with the presumed increase in boat insurance in that area- any increase in value may be negated. BUT- I think that as the economy warms up over the next few years that the supply side of used boats is going to be VERY low compared to demand. This would be because so many builders have closed or reduced the number of units they are producing. You heard it here first!

 

[Tony B]

So what is the opinion of boat values versus inventory now after Isaac and Sandy?

I am thinking that loss of hulls will drive values up. ?

After going through Ivan and close proximity to Katrina, I thought you would know by now.
The price of boats goes down. 1) many marinas have probably been damaged and so no place to keep a boat drops it's value. 2) Many people have shifted priorities from their boat to their home. Trying to get their lives reorganized put the boat on very low priority to possibly a liability. Again, the price goes down. 3). Many potential boat buyers prior to Sandy have now re-thought the idea of buying a boat. Again, the price goes down.

 

[Blue Heron]

Tony,

That's what I thought initially, but after Ivan, home prices actually increased for the reasons Forklift states.
I don't know.
Interesting about marinas though. Good comments

 

[Keith]

The value of a boat is usually equal to or less than the lowest price similar boat on the market at the time. It doesn't matter what equipment, or what year as long as they are close, but a ratty, poorly kept boat similar to yours will bring the price down to it's level. Hope for it to sell! It's a rare buyer who understands the premium for well kept boats with good equipment.

 

[MurrayM]

Low prices in Alaska and Washington State are squeezing prices down in BC. It's a good time to buy.

 

[boatpoker]

65,000 boat claims so from Sandy. Market will soon be flooded with bondo junks with fresh paint. I wish it was not true but I believe for this and many other reasons (economy - less disposable income, demographics - aging population) prices of used boats will not rise in the near future. Buying a Sandy Boat

 

[LaBomba]

boatpoker, I think your right about prices not going up very quickly but there is a silver lining in this for anyone looking for spare parts. The previous owner of my boat was able to buy a Katrina boat for a song and strip all the major engine parts, prop shaft, electronics etc. and I now have thousands of dollars of spares. For an aging boat this is a real bonus, unfortunately it is at someone else's misfortune.

 

[boatpoker]

Bomba, I thought this might interest you. We cruised the boat shown below from Lake Superior through the Gulf of Mexico and the Bahamas for 15 years. She was a one-off custom build in 1971 by C&C for the Commodore of the Royal Canadian Yacht Club to be used as the Committee boat for the 1976 Olympics.

She is 37' and was such a beautiful full displacement design that C&C tried to buy the rights to build and sell. the Commodore refused so C&C designed a shorter version but financial problems caused them to sell the design to Ontario Yachts. By shortening it to 33' it turned out to be a semi-planing hull. Thats how your Great Lakes 33 came about.

 

[LaBomba]

Bomba, I thought this might interest you. We cruised the boat shown below from Lake Superior through the Gulf of Mexico and the Bahamas for 15 years. She was a one-off custom build in 1971 by C&C for the Commodore of the Royal Canadian Yacht Club to be used as the Committee boat for the 1976 Olympics.

She is 37' and was such a beautiful full displacement design that C&C tried to buy the rights to build and sell. the Commodore refused so C&C designed a shorter version but financial problems caused them to sell the design to Ontario Yachts. By shortening it to 33' it turned out to be a semi-planing hull. Thats how your Great Lakes 33 came about.

Awesome!!, I had not heard that story nor seen this vessel. Were you aware that CC and Ontario Yachts then got into a dispute over the mold for the 33 in or around 1985 and Ontario Yachts rather than returning the mold, destroyed it. That's was the end of the GL33. I am told only 28 were made Steppen thinks only around 20, not sure.

 

[boatpoker]

Awesome!!, I had not heard that story nor seen this vessel. Were you aware that CC and Ontario Yachts then got into a dispute over the mold for the 33 in or around 1985 and Ontario Yachts rather than returning the mold, destroyed it. That's was the end of the GL33. I am told only 28 were made Steppen thinks only around 20, not sure.

I'm in regular touch with several ex C&C execs. and they are not 100% positive but they think that about 30 GL33's were made.

 

[Besslb]

So what is the opinion of boat values versus inventory now after Isaac and Sandy?

I am thinking that loss
of hulls will drive values up. On the other hand this could be an alignment of poorly maintained hulls now lost so what remains is actual best for value?

Does this ever really happen? Used boats going up in value??

 

[boatpoker]

Many used boats went up in value for many years that trend disappeared about 12-15 years ago.

 

[Phil Fill]

The Eagle has increased in value over the 15+ year we have owned her, and if diesel continues to increase might increase some more. However, we did invest about 20+ grand and hundred of hours into her. Insurance company required a survey and appraisal this past year and she is still worth more than what we paid plus the investments.

Part of the reason is full displacement shippy, ugly slow trawler where not very favorable/popular 15+ years ago. Boaters at that time wanted pretty, sleek, go fast, large HP and be dam the fuel cost. With the rising fuel cost and the shrinking economy ugly slow fuel efficient trawlers have become popular. However, today there still are not very many full displacement trawlers on the market, and if there are they are asking top dollar.

 

[FF]

has increased in value over the 15+ year we have owned her,

Doubtful If you adjust for real inflation.

 

[boatpoker]

Value as stated on a survey report and value in the form of cash from a buyer are a world apart.

 

[Phil Fill]

has increased in value over the 15+ year we have owned her,

Doubtful If you adjust for real inflation.

We are still double the cost/investment. The Eagle was a good deal, and ended up with 10 grand in our pockets that we put back into the Eagle. I might have been able to get a better deal, but my wife kept referring to the Eagle as her/our boat.

If you want a good/great deal you have to know what you want, what its worth to you, give an offer and walk. If they come back with a counter offer, you known they are willing to talk. If not then move on or pay their price. Who ever blinks first looses.

 

[CPseudonym]

http://www.trawlerforum.com/forums/s38/fuel-prices-alternatives-7917.html

Fuel alternatives split off into new thread located at link above.