I've been shopping for C-25 or similar for about two months in California. The prices seem a bit high and I'm speculating that the combination of an economic slowdown and inflation might put the squeeze on boat owners who have been on the fence about selling. On the other hand, when you do something you love, you dont really think about the cost that much. I really want to get on the water too. What do you guys think? Jump on the first available or be patient?
Buy now or wait for recession?
- Thread starter Nunami
- Start date
The trick is in being just patient enough to find the right boat. You can't hesitate on the "right" boat because it will not be available for long. So the other trick is in recognizing the "right" boat! 
You can always offer what you are willing to pay. If they feel insulted it is their problem. Avoid any ad that asks for "serious only" .
I've had some ridiculously low offers on boats I've sold - it's not that I've been insulted, it's that I've wasted my time with these deadbeats. Try not to waste other people's time but do get a boat, it's hard to time recessions.
With the two boats I have sold, I was never insulted by a low offer....... buyer gives it a shot as I did buying my new boat.
No offence.....
Greg
No offence.....
Greg
Trying to time a sailboat purchase to align with the economic cycle will leave you boat-less. You're looking at an older boat which has approached it's asymptotic price (It won't get much cheaper or much more expensive). Some may ask more and some less. Just make sure you get one that's in the best condition. A few thousand dollars one way or the other doesn't really matter. You'll spend way more getting the boat set up for your use. Take a Pearson 26 Weekender for example. When I was shopping for my first keelboat in the early 90's they were $5 - 6K. Today they are about the same.
There was a thread here a while ago about how California sailboats sell for premium prices. You may want to look in other areas, find one with a good trailer and move it yourself.
There was a thread here a while ago about how California sailboats sell for premium prices. You may want to look in other areas, find one with a good trailer and move it yourself.
Widespread inflation inflates the price of boats just as it does cars and other durable goods not new. Possession of hard assets is often touted as an inflation hedge; so, I would not count on inflation being helpful on the purchase price. Although an owner might tire of the increasing costs to keep and maintain a boat and become motivated to sell, it likely will be at the “inflated price”, etc.
Recognize that yachts are largely in a nationwide market place. Folks search widely across the U.S. for a boat, travel from their local area to inspect, and then ship them to home location. If you want a yacht now, or soon, search along the west coast, be prepared to travel, and be prepared to buy on a relatively short time line. Not like the “old days” of only a few years ago. If you want it, pay the asking price if you can. Enjoy the boat for a few years then maybe “return the favor” to another buyer down the road. Just don’t get stuck with a major fixer-upper; get one you can sail now!! With enough fun in the wake you’ll not remember or care for long how much you think you might have “overpaid.” It seems you know that already.
Recognize that yachts are largely in a nationwide market place. Folks search widely across the U.S. for a boat, travel from their local area to inspect, and then ship them to home location. If you want a yacht now, or soon, search along the west coast, be prepared to travel, and be prepared to buy on a relatively short time line. Not like the “old days” of only a few years ago. If you want it, pay the asking price if you can. Enjoy the boat for a few years then maybe “return the favor” to another buyer down the road. Just don’t get stuck with a major fixer-upper; get one you can sail now!! With enough fun in the wake you’ll not remember or care for long how much you think you might have “overpaid.” It seems you know that already.
I'd had enough of the way I was living (not about the depression) so I liquidated everything and lost over half. The boat I bought was listed @ $179k but I took possession at less than $125k. It didn't really come anywhere close to making up for my losses, but I had the power in the negotiations. I suggest waiting a while, watching the market carefully and find the best boat at a better price. However, the middle of the winter isn't a bad time to buy a boat especially when there's snow on her deck.
How much $$ are we talking about?
if you want the boat, buy it. In a recession, your net worth is also going to be be impacted, as is your earnings potential.
Greg
if you want the boat, buy it. In a recession, your net worth is also going to be be impacted, as is your earnings potential.
Greg
There seems to be a lot of cash in the hands of buyers these past couple of years. (Part of the inflation problem.) Some folks paying cash for homes and new boats, even, I’ve seen or heard. The point is that there may not be as much “negotiating opportunity” on a good boat as in pre-pandemic years. The old saying: “He who hesitates is lost” might be in full force these days more than in the recent past. Chat with a few yacht brokers to get a sense of today’s market dynamics, just be careful what you believe!
It's a Catalina 25.. They are super cheap already!
$6k USD with a trailer isn't unheard of. There is one in New York for $1,000 without a trailer (IMO: never buy one without a decent trailer because getting a trailer alone can exceed the value of the C25)
The cost of a slip and other yearly fees can exceed the cost of a Catalina 25.
Wait and you may just end up with a badly maintained boat that sat for a while before the owner came to realize that he needs to get rid of it at a cheaper price. That boat will likely cost a lot more in the long run due to neglect.
Besides a recession will likely also effect YOUR income or investments.
$6k USD with a trailer isn't unheard of. There is one in New York for $1,000 without a trailer (IMO: never buy one without a decent trailer because getting a trailer alone can exceed the value of the C25)
The cost of a slip and other yearly fees can exceed the cost of a Catalina 25.
Wait and you may just end up with a badly maintained boat that sat for a while before the owner came to realize that he needs to get rid of it at a cheaper price. That boat will likely cost a lot more in the long run due to neglect.
Besides a recession will likely also effect YOUR income or investments.
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Agreed... if the hull and rigging is sound... then when buying an old trailer sailboat, you are actually buying the trailer, sails and outboard motor. Fiberglass is easy to work on and the rest is basic carpentry but start forking out for new sails, a trailer and an O.B. and you are in for another $10K
Food for though; This presumes a lot of rationality on behalf of someone who spent a pile of money on an exotic toy powered slowly by antiquated means, simply because they like it.
Prices took a large leap solely based on demand, I had an unsolicited offer of $10,000 more than I paid 12 years ago. August there was 1 sailboat on yachtworld in our harbor, last month 9 and a dozen this month. Market is getting better but still very limited selection and above average asking prices. I'd still advise you to get the very BEST example of whatever boat you decide on, usually stands out as the one that doesn't obviously "need a little work". I say obvious because VERY boat is going to have work needed you don't or can't see. I keep thinking nothing is going to get much cheaper in future.
Food for though; This presumes a lot of rationality on behalf of someone who spent a pile of money on an exotic toy powered slowly by antiquated means, simply because they like it.
This meme almost has it right... I added the "very slowly part"
jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 23,390
If you worry about low offers you are focusing on the wrong thing.
What ever you want to sell individual’s will tell you what they think it is worth. Do your own research. Decide the value you believe. Patience. If the value is there you just need to wait for the person who also sees the value.
The issue is you need to be realistic about your valuation. I think that is the most difficult for sellers. It is not about the beauty, blood, sweat, or tears that you have put into the boat. It is about what you would pay for the boat in the condition it is. More often than not if you look at the sale in that light you’ll find a willing buyer who agrees with you.
Don‘t waste worrying about low offers. “Just say no. This is the price. The boat is probably worth more than my price, but this is what I’m asking.” Then you go quite. They will either agree. Say they can’t afford it and walk away. Or try to negotiate.
Now you are in the drivers seat and can steer the discussion.