Author Topic: Boat prices falling?  (Read 3377 times)

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Downsizing

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Boat prices falling?
« on: 24 Dec 2022, 11:05 »
Hi all,

I'm looking for a Baycruiser 23 or Bayraider Expedition. The second hand boats here seem to hold there value really well and I'm wondering whether now is a good time to buy.

I've noticed that a lot of prices are being reduced across other boat ranges and there is no real wait times on new boats anymore.

Is this a good time to buy or will prices drop much more next year?

Best,

Downsizer

Graham W

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Re: Boat prices falling?
« Reply #1 on: 24 Dec 2022, 17:09 »
Three things may have quite an adverse impact on the UK economy next year:
1.  Higher energy prices as government subsidies to consumers are reduced;
2.  Interest rate rises as low fixed interest mortgages reach their end dates and need to be refinanced; and
3.  Tax rises in the new tax year (April onwards) especially for those on PAYE.

All three may have a disproportionately higher impact on those who usually have cash to spare for discretionary spending, including large parts of the boating fraternity.  However, it could be argued that a recession may encourage yotties with larger boats to downsize to Swallows, which in any case are much more fun to own.
Graham
Gunter-rigged GRP BR20 #59 Turaco III

Sea Simon

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Re: Boat prices falling?
« Reply #2 on: 26 Dec 2022, 09:54 »
Imho...
Traditionally, price wise,  now would be a better time to buy secondhand, rather than the spring. That said, these past few years have been very odd and many "norms" have changed radically. However, There is likely more choice of boats come the spring?

In the past, buying new, I have tended to order late summer, for delivery "any time before Easter" got me the best deal, be it lower price or "free" extras.

As a recently retired and at least medium-term grumpy old man, to GWs list of boat-buying financial woes I must add the loss in value of pension "investments". I continue to pay an advisor a handsom fee, while I sit here minding my own business and yet still loosing money on my "low risk portfolio"...in addition to the inflationary  losses suffered by all. B@stw@rds!
This aspect of the crisis seems to be rarely mentioned by mainstream media.  >:(
I have had no concerns over mortgage rates for many years, yet for most of those years both mortgage and investment  interest rates have been astoundingly low.

However, To put in context...
I discovered that due to "abnormally" high price rises (which were at least partly supported by exceptionally  high demand, as well as material cost increases  (I have many friends/contacts in the marine industry,  and none reported exceptional wage increases!) coupled with simultaneous  low interest rates and investment losses,  a new BC23 had effectively become unaffordable  to me....never mind the extended lead times.

Conclusion? Imho...
Buy it if you can, and enjoy the boat while you are fit/healthy enough to do so.

Remembering always that costs of boating also will be increasing significantly (and arguably disproportionately!) next year.
Moorings here up by 12.5%, drivers (so they say) being fuel and materials (e.g. chain up 60%).
BRe # 52 - "Two Sisters"  2016. Plank sprit, conventional jib. Asym spinn. Coppercoat. Honda 5. SOLD Nov 2022....
...From Oct 22.
BC 26 #1001. "Two Sisters 2", 2013. Alloy spars, Bermudan Sloop; fixed twin spade rudders, Beta diesel saildrive. Lift keel with lead bulb. Coppercoat. Cornwall UK.

Sea Simon

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Re: Boat prices falling?
« Reply #3 on: 28 Dec 2022, 14:24 »
PS

"I've noticed that a lot of prices are being reduced across other boat ranges and there is no real wait times on new boats anymore."

Which makers/builders have you tried, and does that include Swallow?

BRe # 52 - "Two Sisters"  2016. Plank sprit, conventional jib. Asym spinn. Coppercoat. Honda 5. SOLD Nov 2022....
...From Oct 22.
BC 26 #1001. "Two Sisters 2", 2013. Alloy spars, Bermudan Sloop; fixed twin spade rudders, Beta diesel saildrive. Lift keel with lead bulb. Coppercoat. Cornwall UK.

Willie The Rut Lander

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Re: Boat prices falling?
« Reply #4 on: 10 Jan 2023, 11:01 »
Hi Downsizer

I acquired BRe 001 about three months ago and am glad I purchased when I did. I categorise Bay Raiders with Cornish Crabbers in that they seem to hold their value incredibly well, unlike those of many other manufacturers. There are many reasons for this, I'm sure, but for my money it indicates a well designed and built boat. 

Yes, prices may fall a little in the short term but the lack of BRes currently for sale would seem to indicate that this is unlikely.

As Sea Simon suggests - carpe diem
BRe 001: Susannah (formerly Grace). Asymmetric, 6Hp, Jeckell's Rather Excellent Cockpit Tent

Sea Simon

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BRe # 52 - "Two Sisters"  2016. Plank sprit, conventional jib. Asym spinn. Coppercoat. Honda 5. SOLD Nov 2022....
...From Oct 22.
BC 26 #1001. "Two Sisters 2", 2013. Alloy spars, Bermudan Sloop; fixed twin spade rudders, Beta diesel saildrive. Lift keel with lead bulb. Coppercoat. Cornwall UK.