State of the 2nd hand market

[DandV]

We are still on target to buy next year a "go anywhere" 2+2 berth narrowboat suitable 5 years of extended summer cruising, nominally six months at a time.

My perception from afar, looking at brokers sites, is that the market is softer this year then last. Poor summer, and economic stress?

One boat we actually viewed on board in May, which on our cursory thought was overpriced at well over 50000GBP has since been repriced just over 40000GBP a rather extreme case of disappointed optimism.

 

Thoughts and experiences from those currently engaged in buying, and those engaged in selling their boat, and from any brokers would be appreciated.

 

Don and Val

[MtB]

My perception is that it continues to soften too, due to the continuing recession here.

 

But what counts is the state of the market next year, when you plan to buy. Things may be recovering nicely by then. But I doubt it!

 

Mike

[Doug Scullery]

We are still on target to buy next year a "go anywhere" 2+2 berth narrowboat suitable 5 years of extended summer cruising, nominally six months at a time.

My perception from afar, looking at brokers sites, is that the market is softer this year then last. Poor summer, and economic stress?

One boat we actually viewed on board in May, which on our cursory thought was overpriced at well over 50000GBP has since been repriced just over 40000GBP a rather extreme case of disappointed optimism.

 

Thoughts and experiences from those currently engaged in buying, and those engaged in selling their boat, and from any brokers would be appreciated.

 

Don and Val

 

I have been helping a friend look for a boat this year, she was looking for a 50-60ft NB in the 30-40K bracket (ended up with a 50ft for just under 30K), and was looking with virtually the same requirements for myself three and a half years ago (got a 55ft for just under 30K). My observation was basically that you don't seem to get anything much more for your money now than you did then, but the amount of choice this year was massive compared to when I was buying. My friend ended up with maybe 20 boats in her shortlist, wheras my shortlist was more like 3 or 4 boats. It's a buyers market out there at the moment, in my opinion. Happy shopping!

[Starcoaster]

I tend to agree prices have comne down again for second hand.

This time last year it was kind of a big coup getting the boat I have now for the price I paid.

Looking at Apollo Duck just today, there are a few boats that are not massively dissimilar and not in a much worse state of repair at around the price I paid, ie, that price seems to be very viable now and not a fluke occurence.

Edited October 9, 2012 by Starcoaster

[larkshall]

Don't forget to add in seasonality trends, cheaper to buy in winter etc. (Like rag top cars).

[Naughty Cal]

I think a lot depends on the type of boat you are buying.

[DandV]

Don't forget to add in seasonality trends, cheaper to buy in winter etc. (Like rag top cars).

 

Does the seasonality of prices exceed the expenses of mooring, insurance for the six months of winter?

In our case though the expense of a round the world trip and logistics to view boats in autumn and then arrange mooring, insurance and winterising makes autumn purchase a non goer.

For the reciprocal reasons when the time comes to sell, it will be in the late summer/ autumn

 

Don

[sueb]

Two friends have sold boats recently for the asking price and within a month. Daughter sold her house the day it went up for sale. I just depends!

[RichLech]

Just buying a boat originally priced over 50K but got 10% reduction. Not sure how this stands up against other experiences but having looked at a lot, this is the only one that really said "buy me".

 

My first boat. Like buying a house. Look at a lot that are OK but you knoa when you eventually step onto "the one".

[mrsmelly]

Two friends have sold boats recently for the asking price and within a month. Daughter sold her house the day it went up for sale. I just depends!

 

Totaly agree sue. Last year I sold in an instant, this year my friend did the same ( boats ) it is down to one factor only, sensible pricing and the realisation its 2012 not summer 2007.

 

Tim