the moorings have several 2017 used charter cats for sale with prices more than the original cost of the boat. i thought a boat is a depreciating asset? where is this going?
boat prices
- Thread starter gudiss
- Start date
Around 1994, the insurance on our 1973 Bristol 32 saw a sharp increase. When contacted, the insurance company said that it was a result of Hurricane Andrew. Ahhh, hello.... we're in Maine and Andrew took out Florida.....
It appears that Andrew took out quite a few boats in the 32 foot range.. This action made the ones left more valuable. I offered to sell the boat to them for their appreciated value... No Go... The rub.... I could decline the increased value and maintain the current insurance at the present rate. BUT, should a loss be experienced the amount paid out on the claim would be reduced to reflect the percentage difference of what the underwriters set as a value and what I had....
So, the value of the boats might be related to the great loss that Moorings and Sunsail and the others saw a few years ago..
It appears that Andrew took out quite a few boats in the 32 foot range.. This action made the ones left more valuable. I offered to sell the boat to them for their appreciated value... No Go... The rub.... I could decline the increased value and maintain the current insurance at the present rate. BUT, should a loss be experienced the amount paid out on the claim would be reduced to reflect the percentage difference of what the underwriters set as a value and what I had....
So, the value of the boats might be related to the great loss that Moorings and Sunsail and the others saw a few years ago..
Perhaps lack of availability of new cats is driving up the cost of used ones, similar to what’s happening to cost of used cars & especially trucks.
When the pandemic started my broker contacted me and said he could sell my boat for twice what I paid for it. It was, at the time, a 24 year old boat that I had only owned for 2 years.
The pandemic caused a big surge in boat values as people looked for more solitary recreational pursuits, and had been denied comfortable travel opportunities and other social and recreational opportunities. Now, the supply chain problems and inflation are driving prices.
The pandemic caused a big surge in boat values as people looked for more solitary recreational pursuits, and had been denied comfortable travel opportunities and other social and recreational opportunities. Now, the supply chain problems and inflation are driving prices.
jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 22,922
It is the economics of supply and demand.
Try searching for a used sail boat let alone one that is a water condo like the Moorings Cats. They are great. They have been sailed hard. They make great homes on the water to deal with the rising cost of land housing.
YouTube has shown many that they can connect to work and live in their bathing suit instead of a 3 piece wool suit.
It is a changing market.
Try searching for a used sail boat let alone one that is a water condo like the Moorings Cats. They are great. They have been sailed hard. They make great homes on the water to deal with the rising cost of land housing.
YouTube has shown many that they can connect to work and live in their bathing suit instead of a 3 piece wool suit.
It is a changing market.
Cruising catamarans were selling within days in south Florida, sight-unseen. This is probably due to remnants of Covid that @jviss just mentioned, plus the effects of inflation. People are looking to have some debt on the personal balance sheet as paying it back in a few years may be 20% cheaper than borrowing in today's dollars.
That said, the market seems to be softening a bit with Yachtworld showing some price drops recently, indicating that the sky-high prices were not reasonable for the market after trying it for a couple weeks. Obviously, all depends on the boat.
That said, the market seems to be softening a bit with Yachtworld showing some price drops recently, indicating that the sky-high prices were not reasonable for the market after trying it for a couple weeks. Obviously, all depends on the boat.
IMHO buyers that pay inflated prices today are going to get burned in the future when sanity returns. Purchase carefully.
You can get burned or you can delay pleasure ... it all depends on what is important. Money or pleasure! Rarely does every conceivable favorable outcome ever align!
jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 22,922
It would appear that in some instances - say the capture of a trophy wife - that the man with the money has a big smile on his face.... Maybe the outcome is temporary..Rarely does every conceivable favorable outcome ever align!
I know a couple who bought a catamaran from a charter fleet. They got it at a substantial discount to its market value. They put a lot of money into it to bring it up to market value. I think they are right side up now - or close. But if they had bought at a higher price, there's no way they would be right side up now.
I can't help but wonder where our old friend @Kermit would come in on that one.
I'm looking for a Mariner that I don't have to spent months on to get ready to sail, because I don't have months, and so far, the ones I've found listed within a day or two of posting, have already got three buyers lined up ahead of me.
The one sitting in my driveway, sat with her for sale sign in her, for almost a year.
-Will
I wonder about these Handyman Specials coming off of charter. When you say 'market value', I suppose you mean the value the similar boat would have had if it had not been trashed and designed to house as many rental customers as possible for up to a week at a time (10 bunks and 4 heads on a 40-foot cat). What most cruising couples really want is fewer than half the bunks and heads, and lots more comfort for long-term occupancy (watermaker, lower engine hours, storage, tankage, newer electronics, not beat up, etc.), so I would have to significantly invest and change.
I would think that you could save some money if you put in significant sweat-equity / DIY, but then I wonder what your hourly rate is for that work. If you had just got a job, could you have paid a professional $120 an hour for that work and come up with a better result? The O'Kelley's channel seems to support this, as I believe they bought their Leopard 46 for $350, put an additional $120 and DIY labor in her, and ended up with a boat in the high $400s, so breakeven. Am I missing something?
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jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 22,922
Are building a fleet? Didn’t you find that one somewhere south of you and she followed you home?
The 46ft one looks big for your lake.
Mariner sailboats for sale by owner.
m.sailboatlistings.com
The 46ft one looks big for your lake.
I married a Trophy the second time. You’ll have to ask her if I was the one with the money, though. But I married her for more than her looks. I made sure she had her own washer and dryer. I mean, why pick up women at the laundry mat? I’d NEVER marry a woman who couldn’t even afford a washer and dryer.I can't help but wonder where our old friend @Kermit would come in on that one.
P.S. She’s a pretty good galley wrench, too!
JW
jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 22,922
Kermie. Your alive.
You have been missed.
Who knew all we had to do was talk about women and you would return like a moth to a light.
You have been missed.
Who knew all we had to do was talk about women and you would return like a moth to a light.
And beer!Kermie. Your alive.
You have been missed.
Who knew all we had to do was talk about women and you would return like a moth to a light.