Todays $$ buyers market or sellers?

[bshillam]

Looking very seriously at adding to our boat collection towards the end of the year. Wondering from those that have recently purchased would you say it is a buyers market or sellers? I am leaning towards something north of 40' to say 50'. Most of what I have found is in California, Defevers, Kong and Halversons, Hatteras, etc.

 

[bshillam]

Oh I should add several of these boats I am looking at have been on the market a long time.

 

[tiltrider1]

If you are looking for a boat that is less than 10 years old and over 40’ it is a sellers market. If you are looking at boats over 30 years old and over 40’ it is a buyer’s market.

Now this is very general, things can flip back and forth on specific makes and models. If you are looking at boats that have been listed for over a year you can comfortable start low with your negotiation. Again this is a general answer to a general question.

 

[bshillam]

Looking at 1980-mid 1990's for the most part.

 

[tiltrider1]

That time frame is more favorable to buyers.

 

[CMS]

It is always a sellers market for boats in the top 2% of condition (Bristol condition). Heck many "top 2 percenters" never even make it to Yacht World. I sold a customers 2 percenter boat with one phone call the minute he even hinted at selling it.

For boats in above average condition, top 15%, it is quite often a sellers market especially with popular models.

For poorly maintained, neglected boats or one-off odd balls it's often perceived as a buyers market, to the buyer, until they realize what its actually costing to make it a top 15 percenter....

If a boat has been on the market a "long time"..... There's a reason...

 

[smitty477]

Looking at 1980-mid 1990's for the most part.

Those years buyers typically cannot get financing which makes it better for those that can purchase. In the NE that is a buyers market now except for specific makes models that are favorites for the area.

 

[BandB]

It is always a sellers market for boats in the top 2% of condition (Bristol condition). Heck many "top 2 percenters" never even make it to Yacht World. I sold a customers 2 percenter boat with one phone call the minute he even hinted at selling it.

For boats in above average condition, top 15%, it is quite often a sellers market especially with popular models.

For poorly maintained, neglected boats or one-off odd balls it's often perceived as a buyers market, to the buyer, until they realize what its actually costing to make it a top 15 percenter....

If a boat has been on the market a "long time"..... There's a reason...

Absolutely. Seldom do we have universally buyers or sellers markets. Perhaps with a recession then it's a true buyer's market. Otherwise it's always a seller's market on the top quality, very select, most desired brands and it's always a buyer's market on the other end of the market, if you can really call buying boats in that age and condition a buyer's market.

The market appears to me to be very balanced. One major exception. If you want a boat 7 to 10 years old, it's definitely a sellers market because so few were sold in 2008 and the following years.

 

[LaBomba]

With over 30% difference in the Canadian vs US dollar, it is definitely a buyer's market for US citizens coming to Canada to buy a boat. Inventory is drying up fast however.

 

[Jeff F]

Consumer confidence in the US is at an 18 year high. How could it possibly be a buyer's market? Wait for the next recession. It can't be that far off

 

[Aquabelle]

Is there a consistent difference between regional markets? For example are SoCal or PNW vessels consistently more expensive than on the east coast, when comparing identical models/years?

 

[MYTraveler]

It is supply and demand, and boats are not commodities. So, for very desirable boats in short supply, it is a seller's market, and now much more so than say, five years ago. Not only do people have more disposable income, but supply of used boats is severely constrained by the very limited production during the recession years. Conversely, project boats are even less in demand now than before. Sort of like the demand for hamburger helper -- it is counter cyclical.

 

[BandB]

Is there a consistent difference between regional markets? For example are SoCal or PNW vessels consistently more expensive than on the east coast, when comparing identical models/years?

Yes, but that varies by brand as well. Some East Coast brands are considerably less expensive in FL than in the PNW. Some PNW brands less there but most PNW brands also made the East Coast in volume as so many more boats sold on the East Coast, especially in FL.

 

[tiltrider1]

Boat exteriors age less quickly in the PNW. Ten year old boats in the PNW are far less sun baked than ten year old boats in SoCal. This can help PNW boats sell for more.

 

[MYTraveler]

Boat exteriors age less quickly in the PNW. Ten year old boats in the PNW are far less sun baked than ten year old boats in SoCal. This can help PNW boats sell for more.

And the conventional wisdom, at least in so cal, is that there is a 10% - 20% price differential between S.Cal boats vs. Florida boats, attributed to three things:
1) sun baking
2) transportation cost
3) condition / owner care / pride of ownership

 

[boatpoker]

Is there a consistent difference between regional markets? For example are SoCal or PNW vessels consistently more expensive than on the east coast, when comparing identical models/years?

Yes ! model to model, prices are higher anywhere on the westcoast.
This is very easily seen on soldboats.com

 

[Symphony]

from my experience buying boats over the decades, from best to worst:
Great Lakes boats get least use - fresh water too.
New England boats get less use, may even have heated storage in the winter.
PNW boats aren't baked by the sun, can be damp.
So Cal boats can be sunbaked but the humidity is not bad so mold is not a problem.
Florida boats are sunbaked and can mold quickly.

 

[bshillam]

True

All words of wisdom. I am narrowing down the search. It's interesting, visually I am most attracted to boats that have a cruising speed of 8-9. But we both work more than full time and I think from a practical stand point something that can get on plane will be of more use to us for day trips or short weekend. Unfortunately that means I'll be crawling on my knees to maintain those engines. As with all things, its a compromise. I have to remember my current mission and plan accordingly.

 

[Recb]

All words of wisdom. I am narrowing down the search. It's interesting, visually I am most attracted to boats that have a cruising speed of 8-9. But we both work more than full time and I think from a practical stand point something that can get on plane will be of more use to us for day trips or short weekend. Unfortunately that means I'll be crawling on my knees to maintain those engines. As with all things, its a compromise. I have to remember my current mission and plan accordingly.

That part is vital to success, defining exactly how you expect to use the boat, which then drives determining the best matches. Under buying, over buying, too slow, too fast, too small, too big are all potential pitfalls.