Plunging boat prices..

[yeloya]

High demand following the Covid which resulted in astronomical price increases both on new and 2nd hand boats, nowadays the demand, thus the prices are plunging. The cat yards who were delivering in one or two years can deliver boats with very short lead times and reduced prices. Well, they don't reduce the list prices but are increasing the discounts. I basically follow the trend on cats but monos are in the same situation. Obviously this trend on new boat prices have impacted the second hand prices as well.

For anyone who has cash in hand, this could be a good opportunity..

Cheers

Yeloya

[Kettlewell]

The hard part is finding a reasonably priced dock space or mooring. Still plenty of old boats being used apparently.

[CaptTom]

Originally Posted by Kettlewell

The hard part is finding a reasonably priced dock space or mooring. Still plenty of old boats being used apparently.

This was my first thought, too. Demand for dock space around here is still unbelievably high. The "money is no object" crowd is dominating the market. The boats showing up in the newly-rented or -bought slips are mostly high-end show boats.

I don't see this trend reversing, short of a major economic downturn. There are more people, with more money, every day. Slips are virtually impossible to build, and existing marinas are being torn down to make way for waterfront condos.

[Kettlewell]

There are more people, with more money, every day. Slips are virtually impossible to build, and existing marinas are being torn down to make way for waterfront condos.

In terms of cruising sailboats, the numbers sold each year have been in decline for decades. What has happened is that everyone caters to ever bigger boats and the high end. I just witnessed this in the little marina at the boat yard where my boat was stored over the winter. They tore up a bunch of old docks and replaced them with modern docks that are much bigger--but the water space hasn't increased. The marina will always be full, but with fewer boats and owners. You can't blame the builders, boat yards, and marinas for chasing the high-end which means more dollars for them, but it is pricing out the ordinary person from cruising.

[Thomas1985]

Empty slips here and less piers put in the water.

People who can afford boats are fleeing south.

[Calif.Ted]

Still a 10-year waitlist here for a 35' slip $675/month in 2016 now $910 and going up to $1000 June 1. County owned harbor has contracted private company to oversee renovation that has taken 20 years to start. They have already said there will be annual increases for next 5 years. Nordhvn just parked a new 71' at the end tie near me for commissioning, their business was steady and is picking up. My broker friend says sales are real slow, inventories low in the more moderate priced market.

[Kettlewell]

An oddity I can't quite explain is what I call "climate change" with regard to when people launch and haulout their boats here in New England. Boats go in later and later each year, myself included. I always used to be launched before May 1 and would proceed to my mooring where there were already lots of boats in the water. Now, nobody is launched before May, and many don't go in until June. Last June we took a two-week cruise around southern New England and harbors were deserted, and some waterfront businesses weren't even open. Then in the fall I start to see boats come out of the water in September--again, in the past we never hauled until late October, early November. Transient harbors become deserted again around the middle of September. Not sure what is causing this. Aging owners?

[Kinkircating]

The high production cheaply made boats will always go through this feast and famine cycles. There is no such fire sale of those boats that are not glued together...but hell yes if you are in the market for such a vessel now could be the time to pounce!

[SailingHarmonie]

Originally Posted by Kettlewell

An oddity I can't quite explain is what I call "climate change" with regard to when people launch and haulout their boats here in New England. Boats go in later and later each year, myself included. I always used to be launched before May 1 and would proceed to my mooring where there were already lots of boats in the water. Now, nobody is launched before May, and many don't go in until June. Last June we took a two-week cruise around southern New England and harbors were deserted, and some waterfront businesses weren't even open. Then in the fall I start to see boats come out of the water in September--again, in the past we never hauled until late October, early November. Transient harbors become deserted again around the middle of September. Not sure what is causing this. Aging owners?

My bet would be more non-local owners.

If you are a short drive from your boat, you can grab the opportunity to take it out on one of those beautiful Indian Summer days. If you have to drive up from New York City, you can't do that on the spur of the moment, so you have the boat out of the water once the weather become unreliable for a planned-ahead weekend.

[SailingHarmonie]

Originally Posted by Kinkircating

The high production cheaply made boats will always go through this feast and famine cycles. There is no such fire sale of those boats that are not glued together...but hell yes if you are in the market for such a vessel now could be the time to pounce!

This appears to be the case. We just saw the first quarter production numbers from Amel, and they are still selling the Amel 50 and Amel 60 as fast as they can build them. You would not be getting any fire sale discounts from them.

[Mike OReilly]

To the OP, do you have actual data showing this trend? I've been predicting this decline in used boat prices for some time now, but just like most of my economic predictions, it didn't seem to be coming true.

Guess that's why I'm financially poor .

As for the dock space thing, this is not true everywhere. Come up my way. There are lots of empty docks. There are lots of empty anchorages as well -- best of all worlds .

[Shanachie]

What I see are that modern mid-sized sailboats (late '90s and newer) are scarce and in high demand.


These are the boats most upper middle class folks want and can afford. Prices are in five figures. Dock fees are less. Insurance companies don't cringe when you ask for a quote.



Most don't last long on the market because that was when the builders started phasing them out as they ended mass production. There just aren't that many of them.


If you want to sail, it increasingly is coming down to two choices:


* New, huge and expensive boats that are out of the price range of most people.


* Older, often neglected boats that offer far fewer amenities and are becoming increasingly expensive to repair and insure. A 10K boat that needs 25K in upgrades is not a good deal.

[Kettlewell]

A 10K boat that needs 25K in upgrades is not a good deal.

It's a good deal compared to what you can get new for $35K!

[pcmm]

Based on what I've been seeing and some contacts I have that are brokers. I don't see these "plunging prices" pricing is holding steady but slightly lower than covid crazy levels. inventory is still tight

[CaptTom]

Originally Posted by Thomas1985

Empty slips here and less piers put in the water...

Where's here?

Originally Posted by Kettlewell

An oddity I can't quite explain is what I call "climate change" with regard to when people launch and haulout their boats here in New England. Boats go in later and later each year, myself included...

Originally Posted by SailingHarmonie

My bet would be more non-local owners...

I think that's a big part of it. Not just non-local, but non-boaters. Folks who bought a boat because, well, they could. They want to be boat owners, not boaters.

I have to admit I don't demand to be among the first in and last out any more. I've found that the boat mostly just sits at the dock the first and last couple of weeks of the "official" season. But, yeah, it's definitely more noticeable this year. Our boat yard still looks almost full. By now it should be nearly empty.