Are Boats Currently Selling?

[jddevel]

Obviously the query is in the question but are boats currently selling ACROSS the price range or like the property market is the scene one of extreme caution? I only ask as due to current family health issue and a lack of use over the last 3 years we are considering what to do. 

[Lily Rose]

 

I expect the responses will be along the lines of "yes, if priced sensibly".

 

If I was in such a position, and not expecting things to improve, I think I would sell as soon as possible even if the price was lower than I'd really like. I'm not keen on forking out lots of money year after year for something that's not getting used much.

 

[jddevel]

I respect your point Lily Rose but can only consider the situation comparing it to the property market where the first time buyer is currently being hit with higher rates and the lack of of fixed rate offers.Which obviously has a knock on effect. Plus those at the extreme higher end price range rarely concern themselves if it`s something they want. What I don`t want is to waste my and others time with those looking for someone desperate to sell which we`re not. We`re just being realistic about our physical position ( we`re getting towards the 80year watershed)  not financial. It`s a 6 year old semi-trad.

[mrsmelly]

In my experience, boats have sold readily always, I never had any problem when changing boats in well over thirty years.

[Barneyp]

I'd say the best way to judge the market is to regularly check the broker websites and apollo duck for boats of a similar age, condition, etc to yours. If the same boats keep appearing week after week then they're not selling, if it's different boats everytime then presumably they've sold.

I think it's a bit like the housing market, things aren’t as good as they were a year or to ago but there hasn't been a massive crash and demand is still there. 

Edited June 19, 2023 by Barneyp

[David Mack]

I suspect boats are largely selling either to people who aren't financially stressed, such as middle aged/older folks who have perhaps paid off the mortgage/received an inheritance/kids left home, or younger folk looking for a boat to live on as they can't afford to rent or buy property. Both of those groups will still be looking at boats, so that should keep prices up despite wider cost of living concerns.

[peterboat]

10 minutes ago, jddevel said:

I respect your point Lily Rose but can only consider the situation comparing it to the property market where the first time buyer is currently being hit with higher rates and the lack of of fixed rate offers.Which obviously has a knock on effect. Plus those at the extreme higher end price range rarely concern themselves if it`s something they want. What I don`t want is to waste my and others time with those looking for someone desperate to sell which we`re not. We`re just being realistic about our physical position ( we`re getting towards the 80year watershed)  not financial. It`s a 6 year old semi-trad.

It seems like just yesterday when you first came on the forum

43 minutes ago, jddevel said:

Obviously the query is in the question but are boats currently selling ACROSS the price range or like the property market is the scene one of extreme caution? I only ask as due to current family health issue and a lack of use over the last 3 years we are considering what to do. 

Good boats are selling, 57 foot narrowboats are easily moved on 57 x 12 widebeams are selling as well both have good cruising range for their size

[Lily Rose]

 

It wouldn't be financial for me either, at least not in the sense that I needed the money from the sale. On the other hand, I would be thinking that if I wait (say) 3 years for the market to get better, from a seller's point of view, than it currently is (which may still be fine for all I know) then I could be waiting in vain. Whilst I was waiting I would be continuing to fork out licence fees, mooring costs etc etc for another 3 years. For me that would be roughly another £15k wasted on something I wasn't using. 

 

If you think you will eventually sell then waiting strikes me as gambling on a better price in the future being more than enough to offset further depreciation and further annual fixed costs.

 

[matty40s]

As someone who follows the boat market quite closely observes..

..the right kind of boat sells within hours of coming to market,  especially if a fairly new semi or cruiser stern with reverse layout. Some actually sell before being listed as there are brokers with lists of people waiting for above from builders like Aqualine.

There are more buyers than boats in this category.

Were you trying to sell a 20 plus year old boat, with a trad engine, back cabin and cottage style interior, you may have to wait a while,although they are still selling.

There is still a bunch of people thinking it is cheaper to live on a boat without a clue of the regulations or practicalities who are buying boats.

There are still lots (and more of them) of young people sick and tired of paying extortionate rents to greedy landlords who believe buying a boat will give them financial freedom for a few years so they can save to enter the property market properly.

There are also still lots of people buying boats as a retirement dream, having seen all the vloggers, not realising that learning a new skill of hosting, doing locks, jumping on and off boats at 67 isnt exactly what their doctor recommends. Quite a lot of these boats return to the market within 12 months.

So yes, the market is still strong, no new licence changes have been announced yet, so it still seems attractive. If you are not using it, give it a good clean and get it on the market.

 

Any boat that hasnt sold within a month at the moment, is either overpriced, or the wrong(old fashioned) type of boat.

 

[Lily Rose]

2 minutes ago, matty40s said:

doing locks, jumping on and off boats at 67 isnt exactly what their doctor recommends

 

Better put mine up for sale now then!

[matty40s]

2 minutes ago, Lily Rose said:

 

Better put mine up for sale now then!

You are already doing it, some of these new buyers turn up with a pair of walking sticks or a frame basket. One half of a couple recently refused to get on the boat they were looking at as it was too scary to do that being moored on the outside of another boat.!

[Lily Rose]

6 minutes ago, matty40s said:

the market is still strong, no new licence changes have been announced yet, so it still seems attractive

 

So if, or probably when, they do announce serious price hikes the market might well be expected to weaken. All the more reason to sell now rather than later.

 

[GUMPY]

We are in the process of selling, we have agreed the sale just awaiting completion. A good boat will sell, price and presentation are the key things.

Took two weeks from advert going live.

[robtheplod]

21 minutes ago, GUMPY said:

We are in the process of selling, we have agreed the sale just awaiting completion. A good boat will sell, price and presentation are the key things.

Took two weeks from advert going live.

Did you get what you wanted?

[GUMPY]

9 minutes ago, robtheplod said:

Did you get what you wanted?

There was no blonde showgirl but everything else was spot on.

[peterboat]

3 hours ago, GUMPY said:

There was no blonde showgirl but everything else was spot on.

Well done Julian, I put our T25 campervan on marketplace and it was sold in 10 minutes! They came test drove and bought! As you say preparation is everything 

[jddevel]

I thank all those who have advised me and have already taken steps to get the boat professional cleaned on the exterior. Under discussion is a lift out, paint from the waterline to gunnels ( those dam locks will keep moving!!), hull pressure wash and inspection. As it was treated at Debdale Wharf -Zinc plasma sprayed and topped with epoxy I`m optimistic that apart from lots of fresh water mussels all should be fine ( was a couple of years ago when lifted and inspected). Have sent a PM to Julian but publicly would comment that whilst I recognise pricing is important so is the right agent. A requested £10000 reduction in price to me is an enormous sum whereas in commission terms if that is only £600 then they`ve made a sale and onto another one. I did have one agent out who to me gave a negative view because it hasn`t got a fire ( it`s webasto radiator heating/hot water) and considered that live aboards where where the market really lay. however as stated will review following the great advice on here. 

[David Mack]

4 minutes ago, jddevel said:

Under discussion is a lift out, paint from the waterline to gunnels

If you are only going to paint down to the waterline, why the lift out?

[jddevel]

I just felt that for its cost against peace of mind for potential buyers that photos and the fact we had done it meant a sensible asking price may be far more easily achievable. around £300 against a requested " well we don`t know what the hulls like so we`ll knock off a couple of grand" Perhaps I`m wrong?

[MtB]

2 minutes ago, jddevel said:

I just felt that for its cost against peace of mind for potential buyers that photos and the fact we had done it meant a sensible asking price may be far more easily achievable. around £300 against a requested " well we don`t know what the hulls like so we`ll knock off a couple of grand" Perhaps I`m wrong?

 

 

I'd have thought anyone spending more than say £30k is likely to be getting the boat docked and surveyed anyway.

 

 

[GUMPY]

As Loddon is 30 years old it needed a survey for insurance, which I had done whilst it was being blacked.

Sometimes it's a wise move as I'm sure the survey, blacking and new anodes pushed the sale along. 

Edited June 20, 2023 by GUMPY

[David Mack]

24 minutes ago, jddevel said:

I just felt that for its cost against peace of mind for potential buyers that photos and the fact we had done it meant a sensible asking price may be far more easily achievable. around £300 against a requested " well we don`t know what the hulls like so we`ll knock off a couple of grand" Perhaps I`m wrong?

Put it the other way round: If you are going to lift out anyway, why paint only down to the waterline? Why not clean off and paint the whole of the hull sides?

[Barneyp]

47 minutes ago, MtB said:

 

 

I'd have thought anyone spending more than say £30k is likely to be getting the boat docked and surveyed anyway.

 

 

There are some who might be in a hurry and don't want to wait for a survey who will be more prepared to make an offer if there is evidence the boat has recently been out of the water and is well maintained. 

And for those who do want a survey it will mean the deposit and cost of survey is not such a big risk.

[jddevel]

3 hours ago, David Mack said:

Put it the other way round: If you are going to lift out anyway, why paint only down to the waterline? Why not clean off and paint the whole of the hull sides?

I refer to the fact that the hull up to the waterline was zinc and epoxy treated. Debdale give a 10 guarantee.

[MrsM]

4 hours ago, GUMPY said:

As Loddon is 30 years old it needed a survey for insurance, which I had done whilst it was being blacked.

Sometimes it's a wise move as I'm sure the survey, blacking and new anodes pushed the sale along. 

Congratulations on your quick sale. Not at all surprised as it's a great looking boat. Out of interest are your buyers having another survey or having yours transferred? Useful info for others thinking of selling.