How Strong are Used Boat Sales??!!

[stickleback]

Hi. I've just been to Whilton Marina to visit the chandlery (the nearest to me) and commented on how empty the marina looks compared to usual (with for sale boats wall to wall - or bank to bank, rather, usually). Someone there - not sales staff or marina employee - said it was because of the volume of sales recently - boats are going out faster than they are coming in. And I've heard the same story from another brokerage - has anyone else heard this? And if so - what is happening - why should narrow boats be bucking the downward trend in the economy? Does it mean value of 2cnd hand boats are holding up?

 

Stickleback

[ditchcrawler]

Hi. I've just been to Whilton Marina to visit the chandlery (the nearest to me) and commented on how empty the marina looks compared to usual (with for sale boats wall to wall - or bank to bank, rather, usually). Someone there - not sales staff or marina employee - said it was because of the volume of sales recently - boats are going out faster than they are coming in. And I've heard the same story from another brokerage - has anyone else heard this? And if so - what is happening - why should narrow boats be bucking the downward trend in the economy? Does it mean value of 2cnd hand boats are holding up?

 

Stickleback

The cap in front of us has just sold his boat and bought one 10 foot longer. The marina told him that the expensive boats are selling better than the cheaper ones.

 

edit

chap not cap

Edited November 8, 2008 by ditchcrawler

[sueb]

The cap in front of us has just sold his boat and bought one 10 foot longer. The marina told him that the expensive boats are selling better than the cheaper ones.

Could it be for cheap housing?

Sue

[Lady Muck]

Hi. I've just been to Whilton Marina to visit the chandlery (the nearest to me) and commented on how empty the marina looks compared to usual (with for sale boats wall to wall - or bank to bank, rather, usually). Someone there - not sales staff or marina employee - said it was because of the volume of sales recently - boats are going out faster than they are coming in. And I've heard the same story from another brokerage - has anyone else heard this? And if so - what is happening - why should narrow boats be bucking the downward trend in the economy? Does it mean value of 2cnd hand boats are holding up?

 

Stickleback

 

More liveaboards? I for one poured scorn on this idea, but in reality, I have seen more and more and more people take to the water in London. It's really obvious to see. There used to be no cc licensed boats moored in Tottenham, only two years ago, now theres usually between 10 and 20. It's busier pretty much everywhere on the river.

 

Just a thought.....

 

I still know people who are struggling to shift their boats though.

[KeithL]

A lot of boats for sale seem to be dropping in price, on boats & outboards and appoloduck etc, narrowboats are still over priced though IMO

[DaveR]

They are certainly not as strong as they used to be.

 

A friend who runs a brokerage firm said that the current credit squeeze is affecting some folk, but as most of his customers were the 50+ brigade this section seems to be less affected.

[alan_fincher]

The brokerage operation at our marina has never been a large scale affair, compared to the "big boys", but has always had typically around 5 to 10 boats on their books at any one time.

 

For some weeks now, the sole boat has been one Springer, but as that is out cruising, and certainly not realistically priced, you can effectively say they have nothing on offer.

 

It may be a exception, but around here it looks like nobody's selling, rather more than nobody's buying. Whether that is because people have withdrawn boats as unsold, or because most did manage to sell, I'm unsure. Certainly those that seemed to sell were at advertised prices massively lower than they would have been (say) a year previously, (and presumably changed hands even cheaper).

[tinca steve]

Just adding the narrow boats numbers ,Trad, Semi Trad and Cru. on Apolloduck thats nearly 750 boats !!!

[johnthebridge]

I've had my 55' CTS narrowboat for sale with Norbury Wharf for months. It is a very nice boat by a very reputable builder. The price has been reduced by £5000, and still there have been no takers. I've now got to the point where what would have previously been regarded as "silly" offers would certainly be considered.

[Troll]

Maybe the Marina mentioned cant get the finance to purchase boats?

[alan_fincher]

Maybe the Marina mentioned cant get the finance to purchase boats?

They don't purchase them, they only broker them AFAIK.

[Troll]

They don't purchase them, they only broker them AFAIK.

 

They do, they bought one from someone I know

[tinca steve]

Probably only to make a bigger profit.

[johnthebridge]

Probably only to make a bigger profit.

Not sure why you mention this. Do you object to a firm making a profit? If someone chooses to sell to a broker/boatyard etc. then surely that person realises he/she is going to obtain a lower price than if they were to sell to a customer introduced by the yard? It's exactly the same as selling your car. Sell it to a retail customer and get a reasonable price. Sell it to a garage and get a trade price. The dealer, (boat, car, aircraft, whatever) has to be prepared to wait for a sale. They have to give some form of service, possibly even a warranty.

I'd be prepared to take a considerable hit, and sell my boat to the "trade", and not have to concern myself with all the possible aggravation of a retail sale. That would be my choice, and if the broker takes a large profit afterwards, then good luck to them.

[tinca steve]

Not disagreeing with you. But there is the chance that a broker might (I AM NOT SAYING WILL ) be willing to be a bit lazy in the sales area if the owner needs to sell quickly. But then offers to buy it just to help you out. Then with a bit of T.L.C. can make a fair bit more.

[MtB]

Hi. I've just been to Whilton Marina to visit the chandlery (the nearest to me) and commented on how empty the marina looks compared to usual (with for sale boats wall to wall - or bank to bank, rather, usually). Someone there - not sales staff or marina employee - said it was because of the volume of sales recently - boats are going out faster than they are coming in. And I've heard the same story from another brokerage - has anyone else heard this? And if so - what is happening - why should narrow boats be bucking the downward trend in the economy? Does it mean value of 2cnd hand boats are holding up?

 

Stickleback

 

 

We've been out and about looking for a boat to buy for the last few months now and our impression is that sales are rare. Since starting looking we have found about ten boats close enough to add to our shortlist. Only one has sold since we started looking.

 

We've been registered for updates at Whilton Marina for about two months now and we get regular email updates on stock changes and price reductions. They seem to add about one boat a week and reduce a price about twice a week.. There was a big flurry of emails recently advising us of price reductions on various boats - maybe ten or so in a single week, but no flurry of correseponding sales as far as I could see. They've had two boats we were interested in there since June, bith still for sale despite price reductions. Several other boats we were initially interested in are also still for sale.

 

I had a long conversation with the sales chap and he claimed Whilton were selling 20-30 boats a month. But this seems unlikely from watching the sales list quite carefully over the last three months. Maybe last year but certainly not now! Having visited Whilton to view various boats four times now over a two month period our own impression is that the stock there hardly changes. They seem to add about one boat a week and sell one a week.

 

ABNB on the other hand actually have a section on their website announcing new arrivals and which boats have sold each week. They seem to be consistently selling at least two a week.

 

Our overall impression is that narrowboat prices are sinking and sales are seized up but owners, just like in the property market, still want to sell at last years prices or not at all. 'Fully priced' boats simply don't sell, while keenly priced boats do.

 

We missed a 70ft Colecraft with a RN DM2 engine for £45k a few weeks ago. Looked like a bargain to us so rang to arrange a viewing. The sales bod said he was actually in the process of taking a deposit on it at that very moment. Damn!

 

Cheers, Mike

Edited November 10, 2008 by mike bryant

[LEO]

We missed a 70ft Colecraft with a RN DM2 engine for £45k a few weeks ago. Looked like a bargain to us so rang to arrange a viewing. The sales bod said he was actually in the process of taking a deposit on it at that very moment. Damn!

 

Cheers, Mike

 

Hi,

 

Confirmation that in any market a good, well presented product will sell fairly quickly. If it does not fall into that category the chances of sucess are slim.

 

Albi

[bargeeboy]

We have found 40k and under moving very well (one or two a week)

 

Class boats or expensive boats not so well

 

New boats slowed down dramatically