You Think Houses Are a Slow Sell ? ( NYT )

[PamlicoTraveler]

Interesting NY Times article on slow mega yacht market

In boom times, yacht enthusiasts would order a new dream boat and keep their old one for the two or three years the builder needed to complete the new boat. Then, they would quickly sell the older yacht to impatient new millionaires and billionaires eager for their requisite status symbols.

But that equation changed with the financial crisis two years ago and took the superyacht market down with it.

[SabreKai]

Its nice to see that the filthy rich can get stuck with two boats, just like us poor schmucks with our little ones. I hope they enjoy dropping the prices until they squeak. I finally sold one of the two I owned, and it took 2 years to do it. I was lucky I only lost $500 off asking. It would have cost me that and more to store for another year.

I think anyone thinking the market will ever return back to what it was pre 2008 is deluding themselves. Boats are a luxury and an ever increasing number of people can't afford any luxuries, let alone a boat. As a liveaboard, they may be attractive to someone wanting to save a bit of money but I think we will start seeing all kinds of new regulations, and taxes on liveaboards as various levels of government see them as a way to get more revenue from people they perceive as being squatters or thieves of services.



Sabre

[pullord]

cheer up as many areas welcome criusers/liveaboards,,cruising permits are sold along with the usual fresh produce,fuel,etc,,,if you want to see alot of boats/toys for sale just go on boatdealers.ca on select power under 45 under 100k and about 2500 come up mostly searay types all over usa/canada,,now is a buyers market if you didnt allready notice and banks are still loaning money at low rates,,back to work i go just popped unto this scene for a looksee,,got to get my taxes done as i am too cheap to pay an accountant,,what i learned from my parents was do what you can yourself to save money and if more people werent brainwashed by the media to spend,spend,spend perhaps they would houses paid off,,instead they run out and buy big screen tv,latest iphones and other stuff advertised like new cars,,you ever see bicycles advertised on tv? or how much can be saved by just using a taxi to get your groceries home once a week and not paying auto insurance while your auto drops in resale value to zero and lcd tvs get cheaper everyweek,,i notice on the web that downtown parking stalls in condos in toronto sell for 25k and last time i was there i couldnt even get a spot to park around the cn tower,,might as well left the rental car at the airport,,lets not pick on the squatters? who choose to exit the rat race early because he who dies with the most toys does not win,,people get possessed by their possessions everyday to the point where all those payments can cause stress so they take a vacation on payment plan,,later they return to work with even more payments and credit card bills caused by taking the vacation,,can anyone really blame the cruiser who says enough of this i can come back to this ratrace later,,

[werntonb]

Originally Posted by PamlicoTraveler

Interesting NY Times article on slow mega yacht market

It is nice to see and read an article that related in yachts. I would love it much if it has a visual effect while reading it.

[Pelagic]

There is a big difference between a Trinity yacht and a Feadship custom yacht

Custom Yachts - Feadship.nl

Both in actual value and ability to retain resale value over the years. Sort of like the difference between a top Ford and a top Mercedes or Rolls.

I am sure the guys with one or two Feadships, don’t need our pity...