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Old 09-30-2014, 11:15 AM   #21
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Originally Posted by pilothouse king View Post
Most things depreciate with age, it's that simple. Anybody who's purchased a high end car (or furniture, carpet, plane, wife, fruit) can tell you this in just a matter of a few years, so decades old?
I'm sure you're familiar with the old saying called the "The 3 F's". "If it Flys, Floats or F**ks, rent it, don't buy it."
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Then there was the recession of 08, where prices on new boats from manufacturers fell off a cliff. Of course that effected used boat values with a vengeance, which led to the avalanche of repos. All those boats became the new comps.
Yes, that's related to my point - this boat is the new comp for Defever 49s. How long until NT42s are down there too? Is this actually a delayed continuation of 2008 with (per another thread) unfavorable demographics as well?

I have a spreadsheet (I've mentioned it before) that calculates the monthly cash and net cost of major assets I own or am contemplating. And for years, I've had my boat's depreciation at 0%. But I now I think I was being overly optimistic. And I've seen something similar happen to a lot I bought last year in a recreational community 90 minutes East of Seattle. Yes, 2008 wasn't great for this kind of property, but the market did continue to turn over though a bit more slowly. Prices ratcheted down, and I thought I had truly bought at the bottom. But now I don't have that same confidence - the lot I purchased DID become the new comp - and it was the cheapest of the 11 properties that were used this year by the county assessor to set the average lot value for 2015 in a community of 408 lots, so literally everyone got a statement in the mail saying their property (not structure) value had declined by an average of 20% in one year and they are NOT happy campers! Which is actually the kind of "wake up call" that I was hoping for, and has sparked a more than 50% turnover in the HOA board.

But we don't have that same dynamic with boats, which are one of the "The 3 Fs".
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Old 09-30-2014, 11:38 AM   #22
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Just a thought, what would be the ballpark cost of having that boat transported to the MS. gulf coast?
Problem is you can't get there from here kind of situation. You would transport from Victoria or Vancouver but you'd end up in West Palm or Fort Lauderdale, then run it across. Cost to transport ballpark probably $60,000. Plus add a few thousand to run it to Mississippi. The other option would be having it delivered on it's on bottom which might be slightly less although putting more wear on the boat. You're talking about 5600 miles so in a straight transport running 24 hours a day, so a team of at least three, plus a few stops for fueling and provisions, and allowing 10 days for the Panama Canal, you'd be talking 45 days. Running daylight only for the most part you'd be talking around 80 days. The cost of that would probably be very close to the transport price. Considering the wear probably more.

Now, there is one more way of doing it if you have the time. Take it home yourself but on whatever schedule you have time for. Take advantage of the situation to see the PNW and the west coast. Maybe move it a little at a time. Yes, still costly, but at least you're getting something in return for your money. We picked up a boat in Washington the first of May. So far we're explored Washington, Alaska, and the Columbia River. Just today are we really starting south and in a week or so we'l finally make it to San Francisco. We do fly home for breaks. We figure on making it home with the boat around May or June so about a year. However, in the process we will see all these areas we've never seen before on land or water. Now while you might not have the time to spend that we do, still the same principle can work. Maybe you don't linger as long but at least for the amount you spend getting it home you're actually using and enjoying it.
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Old 09-30-2014, 11:41 AM   #23
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Holy Crap some of you jump to some bizarre conclusions..

world economic doom...

real estate woe's...

nobody mentioned Obama and ISIS..

Maybe the P.O wants out now and has just listed low to move it.. normally you can tell if a boat is a dog or a gem in 15 minutes.. on the surface it looks like a decent old boat. If ANYBODY expects to buy a 30 year old 50' boat for under 100k without ANY issues they are on crack. New 50' is 800k +... 705k buys a lot of happiness and leeway to deal with some issues.
Interested in the boat .. go look at it.. decide if it is a P.O.S. in person. If not why speculate. May be a deal.. may be not. But it does look clean for its age.. unmolested.. clearly taken care of by the look of it.. and the notes on the whiteboard in the E.R. are a good sign

HOLLYWOOD
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Old 09-30-2014, 12:23 PM   #24
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Too many owners over price their boats and they sit on the market for years. Eventually, the listing will get stale like real estate listings. Best is to price it right in the beginning and below the competition and move it fast. The seller will save a lot of holding, storage and maintenance costs plus there is a time value of money factor. Yachtworld has too many listings highlighting price reductions.
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Old 09-30-2014, 12:30 PM   #25
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Originally Posted by BandB View Post
Problem is you can't get there from here kind of situation. You would transport from Victoria or Vancouver but you'd end up in West Palm or Fort Lauderdale, then run it across. Cost to transport ballpark probably $60,000. Plus add a few thousand to run it to Mississippi. The other option would be having it delivered on it's on bottom which might be slightly less although putting more wear on the boat. You're talking about 5600 miles so in a straight transport running 24 hours a day, so a team of at least three, plus a few stops for fueling and provisions, and allowing 10 days for the Panama Canal, you'd be talking 45 days. Running daylight only for the most part you'd be talking around 80 days. The cost of that would probably be very close to the transport price. Considering the wear probably more.

Now, there is one more way of doing it if you have the time. Take it home yourself but on whatever schedule you have time for. Take advantage of the situation to see the PNW and the west coast. Maybe move it a little at a time. Yes, still costly, but at least you're getting something in return for your money. We picked up a boat in Washington the first of May. So far we're explored Washington, Alaska, and the Columbia River. Just today are we really starting south and in a week or so we'l finally make it to San Francisco. We do fly home for breaks. We figure on making it home with the boat around May or June so about a year. However, in the process we will see all these areas we've never seen before on land or water. Now while you might not have the time to spend that we do, still the same principle can work. Maybe you don't linger as long but at least for the amount you spend getting it home you're actually using and enjoying it.
Exactly on point, a friend shipped his 48' Cabo SF from FTL to B.C. he said 60k.
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Old 09-30-2014, 12:34 PM   #26
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The first thing that catches my eye is it is moored under cover, a big deal here in the PNW, but for how long who knows? Also, not a lot of unnecessary crap on the bridge.

Crap! I do not need another boat
But what could it hurt to go take a looksee?
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Old 09-30-2014, 12:37 PM   #27
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And a new Northern Lights??
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Old 09-30-2014, 12:45 PM   #28
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The first thing that catches my eye is it is moored under cover, a big deal here in the PNW, but for how long who knows? Also, not a lot of unnecessary crap on the bridge.

Crap! I do not need another boat
But what could it hurt to go take a looksee?
Well, go see it and let us know....inquiring minds need to know.
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Old 09-30-2014, 12:50 PM   #29
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Defever 49 for $95K - Sign of the times?

As for this particular boat, it bears all the signs of a remote owner who hired qualified local professionals to do the necessary work a perfect combination.

But for those thinking about moving it a great distance, I think the take away is that when this one sells it will put substantial downward pressure on every other DeFever 49. You can be sure that the brokers with those other boats are aware of this one as well.
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Old 09-30-2014, 12:52 PM   #30
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Exactly on point, a friend shipped his 48' Cabo SF from FTL to B.C. he said 60k.
If there was regular scheduled shipping from the AMERICAN west coast (not Mexico or Canada) all those boats stuck out there would had long ago been sold off to Australia and New Zealand. They're dependent on local buyers (no shipping, expensive to impossible to, truck, and huge distances in open water to move elsewhere) of which there's fewer and fewer. Once upon a time boats out there brought a premium, but that was once upon a time. Foreign buyers have been driving the SE market since 2004. That's why we have such a shortage of good salable yachts, and literally hundreds of dealerships and Brokerages went out of business. We're all fishing in a shrinking pond with ever rising overhead.
The lowest prices on nice yachts have been in the Bay Area. We don't count them as comps though, because of their geographic isolation, and that bugaboo of dockage and insurance to keep them there.
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Old 09-30-2014, 01:02 PM   #31
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The lowest prices on nice yachts have been in the Bay Area. We don't count them as comps though, because of their geographic isolation, and that bugaboo of dockage and insurance to keep them there.
And the irony is we (in the PNW) discount boats from Florida because we think they're all hurricane salvage!

I am (personally) most concerned about sun damage, particularly in combination with salt. I'm content to live and boat in a locale where "the sun don't shine" most of the year!
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Old 09-30-2014, 01:25 PM   #32
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Maybe the P.O wants out now and has just listed low to move it.. normally you can tell if a boat is a dog or a gem in 15 minutes.. on the surface it looks like a decent old boat. If ANYBODY expects to buy a 30 year old 50' boat for under 100k without ANY issues they are on crack. New 50' is 800k +... 705k buys a lot of happiness and leeway to deal with some issues.
Interested in the boat .. go look at it.. decide if it is a P.O.S. in person. If not why speculate. May be a deal.. may be not. But it does look clean for its age.. unmolested.. clearly taken care of by the look of it.. and the notes on the whiteboard in the E.R. are a good sign

HOLLYWOOD
This!!!

I'm watching several boats die a slow death locally because they are priced too darn high. The owners are still paying $500+/month for berthage plus insurance. Since the boats listed they either hire someone to clean it or let it be reclaimed by the environment and continue to depreciate. Cut the price to reality and get a quick sale for crying out loud and move on, this guy has. He bought a larger boat and appears knowledgable enough to know how to sell a boat.

I can sell my boat this weekend if I so desired because the purchase price up front was "right".
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Old 09-30-2014, 01:37 PM   #33
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I think part of the reason some boats are listed at a high price and never sell is that the owners bought them with a standatd 10 or 20% down payment and long term financing.

The boat has simple depreciated faster than the loan is getting paid off.

My boat was bought new in 2001 for I have no idea the price, and financed through Key bank.

When I bought it as a repo the previous owner still owed over $300K on the boat and the market for a excellent condition model was somewhere in the $225K range.

So, he quit making payments, and let the boat sit, eventually getting repossessed.

On the low priced defever, Time will tell if the boat was a great deal. If it gets sold right away it was probably a great deal. If it sits, it is just another old boat.
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Old 09-30-2014, 01:51 PM   #34
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I do not care what my boat or any other boat is worth. I know my boat very well and like any 27 year old boat it has some issues that need attention most of them I can take care of by myself. If I wanted to buy a larger boat then I may have some concern of value to others, I don't desire any other boat than Northern Lights II. That lack of lusting after something else allows me to enjoy boating much more with what I already have:-)
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Old 09-30-2014, 02:07 PM   #35
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Looks like it's too late. The listing now indicates "sale pending."
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Old 09-30-2014, 02:25 PM   #36
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Zing!!

If a deal looks promising, one must be prepared to JUMP on it immediately!!!
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Old 09-30-2014, 02:41 PM   #37
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I'm willing to bet that $95K was not very far off the price of the new Norther Lights installed and the fresh awlgrip paint job.
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Old 09-30-2014, 02:42 PM   #38
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Looks like it's too late. The listing now indicates "sale pending."
Well at least it didn't thoroughly depress the Defever market for too long! Hopefully it will recover.

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Old 09-30-2014, 04:04 PM   #39
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Well at least it didn't thoroughly depress the Defever market for too long! Hopefully it will recover.

Dave
This IS the recovery, the fact a buyer is sniffing at her IS proof. Asking for anthing more, you need to remember your recent High School reunions, and how everybody now looks. In case you have one of those lying "magic mirrors", you need to find a photo of yourself in the year this boat was built, then stand naked in front of another mirror (or a stranger) and compare to now. Then make that "recovery" wish, whilst listening to Time by the Chamber Brothers.
Time has come today.........
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Old 09-30-2014, 04:13 PM   #40
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Then make that "recovery" wish, whilst listening to Time by the Chamber Brothers.
Time has come today.........
Or perhaps Time by the Alan Parsons Project.

Time, flowing like a river....
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