More buyers than sellers?

rpell1@msn.com · Jan 13, 2013

According to the comments made by Insurance adjusters I've spoken to, about 30% of all boats involved in Hurricane Sandy were damaged beyond repair and 60% sustained some dameage, from Suffolk County west, through NY to Toms River New Jersey. Guess what? Supply and demand now takes center stage. Once demand goes up, so do prices. Good Luck.

soldier1964 · Jan 14, 2013

depending on what you can do, might want to check out some in a different area, then sail/haul it home. night find something you like where the price can be haggled abit.

Warren Milberg · Jan 14, 2013

I would look in the Chesapeake Bay area. Thousands of undamaged boats for sale and it would be a nice sail back to Oyster Bay (I grew up around there...nice area). As a former broker, I would say that everything is negotiable. Typical offers for a used boat usually begin at 10-20 per cent below asking prices here -- and settle somewhere in the middle depending on condition and survey. Gook luck with your hunt.

Soldout2sailing · Jan 14, 2013

I am not sure of your willingness to travel but boats are less expensive and owners are more negotiable in the caribbean & central america. You have to be very careful but you can find some very good deals and many are already outfitted for extended cruising. Lots of research and offer contingent upon inspection is critical because of thsoe who think their boat is in great condition when the owrd "great or good" are very subjective.

sirocovzla · Jan 14, 2013

In Europe the sail boat are now very cheap. check Croatia and Turky..!

Mike B · Jan 14, 2013

Try checking for boats at Riverside Marina or Winters Sailing Center in Riverside NJ. They're Beneteau, Catalina and Jeanneau dealers usually have a good selection of used boats. It's a couple day trip by water but worth it if you find the boat you want. You could also try Great Hudson Sailing Center although I don't know if they were impacted by Sandy. Good luck.
Mike

FourPoints · Jan 14, 2013

landfallphil said:
I lost my boat in Sandy and have been looking in the NY/Conn/RI area for a replacement and found sellers to be unwilling to negotiate.

Anyone else have a sense if the market has switched in favor of sellers rather than buyers?

What size and type are you looking for?

Rick D · Jan 15, 2013

Check California

California is still in an economic mess and boat sale prices reflect it. A broker told me last year that a third of sales were going out of state. Even if that was an exaggeration, a lot are. I have not checked the local market for a year, but I suspect it's still weak. Good luck!

Jackdaw · Jan 15, 2013

A lot of sellers have been battered down on price for the last several years and many now reflect what they want/need to get out of it. Is the price unreasonable? A C&C landfall 35 is what, a $30K boat? Lets say you want to spend the same. So a seller does not give you your 10%? $3K? Even if you find someone willing to play the game, you will pay more overall by having it trucked in from a so-called distressed selling area. Find one you want and buy it! ;^)

Benny17441 · Jan 16, 2013

Location, location; not going to find many deals in the immediate area affected by the storm. The used boat inventory gets reduced and prices go up. Be willing to look outside your area and consider moving costs as part of the purchase price.

BarryL · Jan 17, 2013

Hey,

January is not really a good time to buy a boat in the northeast. Most (all) of the boats are out of the water and can't be properly surveyed or sea trialed. So until it gets to spring there really isn't incentive for owners to negotiate.

Once the weather warms up you'll see owners negotiate.

Barry

Jackdaw · Jan 17, 2013

BarryL 1986 Oday 35 said:
Hey,

January is not really a good time to buy a boat in the northeast. Most (all) of the boats are out of the water and can't be properly surveyed or sea trialed. So until it gets to spring there really isn't incentive for owners to negotiate.

Once the weather warms up you'll see owners negotiate.

Barry

Barry, that seems backwards to me. If someone wants to buy my boat in the slow winter selling season, I might cut him a deal. Wait until spring, when everybody is looking, and I'll stick to my guns. Kinda like convertible sales on the first nice spring day. Not many deals to be had then!

FourPoints · Jan 17, 2013

Jackdaw said:
Barry, that seems backwards to me. If someone wants to buy my boat in the slow winter selling season, I might cut him a deal. Wait until spring, when everybody is looking, and I'll stick to my guns. Kinda like convertible sales on the first nice spring day. Not many deals to be had then!

But in this case, everyone has already paid for winter storage, and has no financial incentive to sell before spring, when the market picks up

BarryL · Jan 17, 2013

Hey,

Even if you find someone willing to buy now, you really can't close until spring. Most buyers will insist on a sea trial and in water survey. That can't be done until spring and the boat gets launched. So why bother trying to make a deal now when you don't get the money (or have a significant escrow amount) until spring comes here anyway?

The best deals (for buyers) are at the END of the season, right before the boat gets hauled or decommissioned for the winter. Then the owner wants to sell the boat before paying for winter storage.

Barry

Jackdaw said:
Barry, that seems backwards to me. If someone wants to buy my boat in the slow winter selling season, I might cut him a deal. Wait until spring, when everybody is looking, and I'll stick to my guns. Kinda like convertible sales on the first nice spring day. Not many deals to be had then!