Will the Oil Spill Bring More Cats on the Market ?

[Denvermike66]

It makes me sick to see the spill... however being in the market for used Cat... the question in the back of my mind is will it? Especially if it does move around Florida and all the way up the East Coast. Thats a lot of people with boats being affected! And now... with the predictions of BP low balling their numbers of barrels released... I only fear more for the Gulf and the Atlantic.
Fair Winds... That gives a whole new meaning now...
Michael

[smj]

Why would it?

[Denvermike66]

Originally Posted by smj

Why would it?

Heard that the oil will eat at bottom paint. Oil gets trapped in heat exchanger. Best bet is to haul it out. Besides who wants to go Sailing in a Oil Slick?

[Pelagic]

Originally Posted by Denvermike66

Heard that the oil will eat at bottom paint. Oil gets trapped in heat exchanger. Best bet is to haul it out. Besides who wants to go Sailing in a Oil Slick?

Slick negotiating point.....

[Denvermike66]

Just in case you missed the prediction by NOAA:

YouTube - Raw Video: How Bad Can the Oil Spill Get

[EpicAdventure]

I don't know about cats specifically -- but it does make me wonder about the boat market in general on the gulf coast. Just like so many businesses, the oil spill can't be helping the boat market.

[Serenity_]

I think we will see more and more people putting their boats on the hard however I don't think it will effect resell value or the amount of boats for sale.

The oil spill is a tragedy I am not upset with the fact that a mistake was made and the leak happened, but I am upset with how the company BP is handling it and why our government would give them a 70 million dollar release of liability......but that is another argument.

[Dragon Lady]

I don't know if it has anything to do with the oil spill or more to do with the current finacial uncertanty but cat prices are being dropped by quite a few vendors particularly ex charter boats.
You can say what you like about resale vales but the prices reported on soldboat.com show the only boats selling are the heavily discounted ones.
You can hold onto your boat for as long as you can afford to and ask as much as you like.
But if others owners are prepared to sell at a lower price then that's what the market price is, regardless of whether it's "never been chartered" or has all the fruit (gear) on board.
I really hope they fix this oil leak soon, I feel for those of you caught up in this mess.

[solarbri]

Originally Posted by Dragon Lady

You can say what you like about resale vales but the prices reported on soldboat.com show the only boats selling are the heavily discounted ones.

How does one access this "soldboat.com" site??

[cdennyb]

I don't think the result is a directly oil on the water relationship but more an economical one indirectly. Places that depend on the charter, fishing, tourism, etc. will suffer which will lead to less use, thus less income, thus the owners of the vessels (cats and monos) won't be able to make the boat payments (since less charter customers mean less income) except for a few finacially well off individuals who have plenty of money in savings, etc., and that will tend to place more on the market, and the price will go down slightly (supply & demand).
Just my uneducated observation.

[nettlesbe]

Aussiesuede - Thanks!

I've seen the asking prices drop over last year, but had no idea what the actual sales prices have been - I hate the lack of readily available comps.

Looks like some of the cats I've been looking at are indeed selling for 10-20% less than asking. But some I thought were well priced did indeed sell for near asking.

Great to know.

[Dragon Lady]

Yes soildboat is a good reality check, it's interesting to see what the real market price is. I've been surprised how coy brokers are about prices, in Australia real estate agents are always doing letterbox drops telling you how much the people up the road got for their house.
The question is will the market drop further?
Europe seems to be going into melt down and USA just doesn't seem to be able to get going again.
It doesn't look like things will change much in the short term.

[nettlesbe]

The question is will the market drop further?

It doesn't look like things will change much in the short term

??? It looks to me like prices are dropping, and will drop further, short term AND long term.

[Denvermike66]

Well now that the latest government stats on the flow rate is up to 40,000 barrels a day... man I just can't believe it is happening... I might consider sailing for some time in the Pacific. As for the market getting flooded with boats... I guess we will find out. I personally wouldn't try to beat an individual over price because of the spill. However a broker... game on baby!

[sabray]

Im thinkin a lot more kisses. That is what usually happens after a really good screwing. probably less cats, Birds,Turtles etc... but more pregnant dames of unemployed fishermen and oil workers seasonal employees. Lots of kisses to go around