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Boat prices are high. Sell now, buy another boat later?


jetzi

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It seems like the price of narrowboats has skyrocketed recently.

 

I've been living aboard my boat 3 years now and I have a bit more money than I did when I first bought her so I could afford an upgrade or at least a change, if there was anything on the market that is!

 

I'm wondering about capitalising on the current high demand. Sell my boat now and buy back in winter maybe. When the novelty of everyone's new boats has worn off some, people are allowed to go on holiday overseas again, maybe some people realise boating isn't for them or they can't afford the upkeep and flood the market with secondhand boats. I'm even half tempted to get a new build but I bet the queues for those must be crazy.

 

Then again I like my boat and I have no particular reason to sell her... grass is always greener I guess! The obvious downside would mean living on land for the next few months... not exactly an appealing prospect but I guess I've experienced worse. 

 

Anyone else looking at the prices of boats at the moment and having thoughts like these?

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I think it will be longer than 6 months before they come back on the market, They will probably just lay in the marina for at least 12 months without being used and then put up for sale.

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Japan is about to go into lockdown just a few weeks before the Olympics.

 

I forecast we will be in Lockdown again towards the end of Summer (maybe October) as the new Indian 'double- hybrid mutant' C19 takes even greater hold in the UK

 

A PHE 'paper' suggest we will have an R factor above 1 as more people return to work - this will give an ever increasing number of cases - the severity of which will depend on the mutant varient and the effect the Vaccines have on it. We will 'catch it' but it may not be as debilitating as it was, or it may be worse, we don't yet know.

 

England's R rate is 'unlikely' to drop below one even after all adults have been fully vaccinated, official modelling suggests.

Public Health England estimated the rate of spread when daily activity returns to 'normal levels' and remaining restrictions are dropped. 

In papers published today by SAGE they concluded: 'Vaccination reduces the reproduction number, but is unlikely to reduce it below one when contacts in school, work and leisure are back to normal levels.' 

 

I'd keep your boat another year, do you want to go back to bricks and mortar as another bout of C19 lockdowns hit the country ?

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18 minutes ago, Alan de Enfield said:

Japan is about to go into lockdown just a few weeks before the Olympics.

 

I forecast we will be in Lockdown again towards the end of Summer (maybe October) as the new Indian 'double- hybrid mutant' C19 takes even greater hold in the UK

 

A PHE 'paper' suggest we will have an R factor above 1 as more people return to work - this will give an ever increasing number of cases - the severity of which will depend on the mutant varient and the effect the Vaccines have on it. We will 'catch it' but it may not be as debilitating as it was, or it may be worse, we don't yet know.

 

England's R rate is 'unlikely' to drop below one even after all adults have been fully vaccinated, official modelling suggests.

Public Health England estimated the rate of spread when daily activity returns to 'normal levels' and remaining restrictions are dropped. 

In papers published today by SAGE they concluded: 'Vaccination reduces the reproduction number, but is unlikely to reduce it below one when contacts in school, work and leisure are back to normal levels.' 

 

I'd keep your boat another year, do you want to go back to bricks and mortar as another bout of C19 lockdowns hit the country ?

 

Thankfully you are not employed by anybody who needs to take notice of your advice.

 

An increase in the R number and a consequential increase in the number of infections does not necessarily now equate to a need to lockdown. 

 

Stop your scaremongering.

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6 minutes ago, The Happy Nomad said:

Thankfully you are not employed by anybody who needs to take notice of your advice.

 

 

Thankfully I am not employed and havent been since 2005.

 

The current situation is starting to look a little more bleak that it was 2 or 3 weeks ago, Go and read some international press and listen to the Scientists instead of ex-nurses chitter-chatter.

It is because of people like you who have reacted too little and too late that we are where we are now.

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7 minutes ago, Alan de Enfield said:

 

 

Thankfully I am not employed and havent been since 2005.

 

The current situation is starting to look a little more bleak that it was 2 or 3 weeks ago, Go and read some international press and listen to the Scientists instead of ex-nurses chitter-chatter.

It is because of people like you who have reacted too little and too late that we are where we are now.

 

What are you talking about?

 

People like 'me' have reacted exactly as requested/required. I suspect you are confusing me with somebody else.

 

And what is this ex-nurses chatter bollox about?

Edited by The Happy Nomad
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If you want to sell your boat to cash in and make a few thousand pounds profit go ahead if you really think it's worth all the hassle. If ultimately you want a boat again then it's only really a profit on paper until you can buy back an equivalent boat for a lower price than you sold for. Seems like a lot of agg to me.

 

I might be wrong but I imagine it's only certain types of boat that are going up in value, or is it really all boats?

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I wouldn't consider it if I wasn't thinking about a change anyway. You are probably right though, I'm just dreaming. What types of boat do you find are going up in value?

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I think its a good plan, unless you absolutely hate living on land. But you should look at around 12 months period to buy again, as we will likely have some sort of international travel restriction for at least a year. 

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Sold my boat this month. 20+ enquiries by the end of the first week, first to view bought at the asking price.

I didn't price it high but made enough to probably cover my previous 12 months mooring fees and license (I had the boat around 15 months). I chose who I wanted to view it first as I knew it could be turned over for another profit and wanted someone to enjoy it rather than cash in.

I had personal reasons for the sale of the boat, cashflow not being a big reason, so just wanted a fair price and walk away feeling I've helped others try the boating life...if it'd been feasible I'd have kept it on!

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9 hours ago, jetzi said:

What types of boat do you find are going up in value?

 

I think it is all boats irrespective of type.

If a boat is in good (or better condition) is not priced 'stupidly' then it will sell within 48 hours, if it doesn't then there is something wrong with it or the price is too far above market price.

 

We are 'on the hard' at the moment being lifted back in next Friday.

A sailing boat in front of us (value around a top-end narrowboat) was, on Friday, being looked over by a local Broker, I head him saying to the owner :

 

"Don't arrange to have it lifted back in next week, it will be sold this weekend, if it hasn't I'll come and get some pictures and print up some details but it will definitely be sold by next Friday"

 

Brokers are not even needing to get boat details and pictures on their websites, they have a list of potential buyers and once a boat becomes availaiable they just phone the ones who are looking for that type / size of boat and say "a boat has just arrived that meets what you want, 1st one here gets to buy it".

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It does seem that prices are strong and in some cases bonkers across all the types of boats I've seen online. As the Shetland on the canal's only 19' long, and basic is an understatement, I'd really want a bigger boat on my mooring, but it's not going to happen any time this season by the looks of things. Things like the old Dawncraft 22, 25, Norman 22, 23 etc have been priced high, even tired or empty shells like I would be looking for. Turnkey small GRP cruisers are getting strong money, bilge keel and trailer sailer yachts are selling like hot cakes and prices I've seen on narrowboats are a lot higher than the market only a few years ago.

 

My little sailing boat was deposit paid and collection arranged within an hour of the ad going live. Felt very lucky to be on the ball and first to message him and him being a decent guy and not being lured into accepting a higher offer. I wasn't buying to resell and profit but to use it. In previous years I would have thought the price fair for a private sale but still would have expected to be able to find a bigger, better boat, without the mad scramble, for somewhere around the thousand quid mark. This year it seems to have been a bargain deal. Brokers who had boats priced much higher for similar had seemed to have sold virtually all of them when enquiring previously.

 

Seeing that prices on the kind of canal going boats I'd be hoping to find are very steep this year, it's tempting to put a second 18' tupperware,  currently on a trailer, into the canal for this season for some extra space. Maybe use it for half the season with the other boat then flog it if the market is still healthy, hoping for a bigger boat to come up over the winter. I certainly wouldn't want to be selling the only boat in the canal on the hope/gamble that the market will calm down. This would be especially true if it was an asset of significant value like a narrowboat and my home to boot. The fear of losing a healthy foothold on boat ownership and getting priced out would be too great. What's the phrase, only gamble what you can afford to lose?

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There is certainly new money in boating since covid. The guy moored next to me is on his  second boat and started only last year and already thinking of going bigger . He is not the only one.

Some may get to like it and stay in for the longer term , others will not - nothing new in that .

 

For me  owning a boat is even more of a blessing than it always has been.

 

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We lost a sale on our boat this time last year due to Covid. We sold it in February this year for £5k more than we could have got last year. This was a sold unseen, no survey purchase.

 

On the flip side we have however had to pay circa £3k more for the motorhome we have bought compared to this time last year. 

 

We reckon that the market will be flooded with second hand boats, motorhomes, camper vans and caravans in 18 months.

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1 hour ago, Naughty Cal said:

We lost a sale on our boat this time last year due to Covid. We sold it in February this year for £5k more than we could have got last year. This was a sold unseen, no survey purchase.

 

On the flip side we have however had to pay circa £3k more for the motorhome we have bought compared to this time last year. 

 

We reckon that the market will be flooded with second hand boats, motorhomes, camper vans and caravans in 18 months.

I think you are right, may even be a bit longer, people tend to keep things for a bit thinking they will use them again before finally realising they are just sitting there costing them money and they wont ever touch them any more.

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2 hours ago, Naughty Cal said:

We lost a sale on our boat this time last year due to Covid. We sold it in February this year for £5k more than we could have got last year. This was a sold unseen, no survey purchase.

 

On the flip side we have however had to pay circa £3k more for the motorhome we have bought compared to this time last year. 

 

We reckon that the market will be flooded with second hand boats, motorhomes, camper vans and caravans in 18 months.

Agreed. As you know I sold my boat this month without ever even advertising it instantly. I sold my motorhome this morning without even mentioning I was going to sell it. I have sold the caravan I am in at the moment again without even advertising it and the buyer is waiting till I hand it over later in the year!!! Absloutely insane at the moment.

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4 minutes ago, mrsmelly said:

Agreed. As you know I sold my boat this month without ever even advertising it instantly. I sold my motorhome this morning without even mentioning I was going to sell it. I have sold the caravan I am in at the moment again without even advertising it and the buyer is waiting till I hand it over later in the year!!! Absloutely insane at the moment.

Got an old tent if you want it for free, pal ?

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1 minute ago, Nightwatch said:

Buckets and the aromas of roses come to mind Tim.

 

Well done though.

Yes old boy I dont know what the hell has happened lol. I spose my location has helped with all three items selling in reality?

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25 minutes ago, mrsmelly said:

Yes old boy I dont know what the hell has happened lol. I spose my location has helped with all three items selling in reality?

Did you need to square the donation/bills with Boris for the redecoration at #11 . Sorry, couldn't resist

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26 minutes ago, BilgePump said:

Did you need to square the donation/bills with Boris for the redecoration at #11 . Sorry, couldn't resist

Just adding my bit of humour to the comment. Because Mr Cummings has dropped this particular PM in it, I wouldn’t mind betting that many previous Prime Ministers have carried out refurbs to Number 10. Without any media interference. 

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17 minutes ago, Nightwatch said:

Just adding my bit of humour to the comment. Because Mr Cummings has dropped this particular PM in it, I wouldn’t mind betting that many previous Prime Ministers have carried out refurbs to Number 10. Without any media interference. 

fully agree, blue or red, they've all been at it back to forever.

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On 24/04/2021 at 21:13, The Happy Nomad said:

 

Thankfully you are not employed by anybody who needs to take notice of your advice.

 

An increase in the R number and a consequential increase in the number of infections does not necessarily now equate to a need to lockdown. 

 

Stop your scaremongering.

I suspect that there may be some misuse of the R number somewhere along the line. It states the number of people that one infected person will themselves infect and is a measure of the transmissibility and proximity. It does not measure the rate at which infections take place in the population as a whole (AIUI). (Remember that the reduction in R in lockdown was because the proximity was reduced not the transmissibility which, until vaccines arrived, remained much the same)

 

Once everyone has been vaccinated there are far fewer people for an infected person to come into contact with - ie proximity will be very low. (combines both social interaction and frequency within the population) Even though people mix more then thay will not necessarily increase the overall rate of infection. 

 

Part of the problem is that we have yet to be given any data on how effective the vaccines are at preventing infection (ie the chance of a vaccinated person catching the disease after they have been in contact with it) So far they have been promoted on the basis of reducing the chances of getting severe effects of the disease (once the virus has taken hold in an individual)

 

None of the data so far available helps a lot if mutations take an adverse direction before infection levels worldwide are reduced (not yet happening in India) where the sheer numbers increase the prospect of mutations beyond the scope of current vaccines.

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On 24/04/2021 at 21:13, The Happy Nomad said:

 

Thankfully you are not employed by anybody who needs to take notice of your advice.

 

An increase in the R number and a consequential increase in the number of infections does not necessarily now equate to a need to lockdown. 

 

Stop your scaremongering.

An increase in R only means an increase in the number of infections if nothing else changes. Proximity (and hence frequency of transmission) can be affected by both social distancing (or not) and the proportion of infectable people 

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