$25,000 SAILBOAT PRICE DROP! SHOULD WE BUY IT? EP 246 - Lady K Sailing 

Welcome aboard! Thanks for watching!

Wow! Go for it! You can do this! And thanks for watching 😄

That all points to used boat prices increasing. Just like the housing market, new builds cost more, pushing demand for existing home sales up further.

@@michaelxwhite maybe at the low end where there will be more completion for affordable boats, but using Tim’s example, we’re looking at a nearly 4 decade old boat that they want $100k for despite that fact that buyers won’t be able to get a loan and probably not even be able to insure such a vessel. Debt levels have risen sharply in the past 2 years and any consumer savings trend from Covid is now gone. That translates to a tiny number of buys that (1) have $100k in cash and (2) are willing to put it into a very old boat. These assets are just going to sit until their older owners die and then they get sold off for pennies on the dollar in estate sales.

​@@michaelxwhite Just like other used vehicles

Who's sitting on inventory? Orders are at least a year out. Everyone in sailing seems to make up their own reality!

@@jackwalby6257 I’m in the mid Atlantic (NJ-MD-VA) area and I’m seeing new inventory sitting with dealers now across both sailboats and powerboats compared to 2 years ago when they literally had nothing to sell and it was orders only. I’m sure it depends on your region and maybe particular models may still be order only, but the same trend is visible with new cars/trucks- once empty lots are now filling up with vehicles nobody is buying. For sailboats specifically, a dealer near me has multiple size new Catalina and Beneteaus in stock right now- no waiting. Prices haven’t dropped yet, but the building inventory is the proverbial canary in the coal mine of what’s coming.

I agree. There are so many people going into the sport.

Would you have dismissed it as "not serious" if your boat was on the market for a year or would you think to yourself that maybe your original asking price was not adjusted well for the market?

@@jessefalsone1247 I think that would depend on how much interest I’d seen during that year. I’m not saying boats are never mispriced, but most sellers have looked at the local market and worked with a broker to make their best guess as to a fair asking price. They know what similar boats have sold for in the area. Very few are desperate to sell-especially if the boat is well-maintained. A low-ball offer might work, but it marks you as someone who’s more interested in getting a deal than getting a boat. Sellers are thinking, “do I want to waste my time with someone who’s probably going to nickel and dime me for every little thing that shows up in the survey?" Obviously, people should do whatever they want. Boat shopping can be a fun activity. But, if the goal is to get out on the water and you really like the boat, it’s worth considering that low-ball offers can work against you. That extra 10% you’re trying to save will probably be dwarfed by the cost of repairs, maintenance, etc. over the first few years anyway. Most buyers would do well to focus less on the purchase price and more on the cost of ownership.

Agree, but it’s a Pontiac GTO

Agree, 1979 Swan owner myself

People pay good money for well kept and upgraded HR/Swan.... Mediocre ones are worthless. They're cramped, the original electrical system is woefully inadequate, obsolete diesels (Perkins, Universal...) and miles of teak that's old. Someone's gonna by a hulk for nothing and put 1000+ hours into it or buy the best. The middle is too expensive to restore and not good enough to sail. For people that just want to sail with their kids these boats are just a bad choice.

I would just be willing to walk away. There are a lot of boats out there for 80k

​@@LadyKSailing Interesting. These videos are helpful. I like these real-life scenarios. It helps to learn how you look at boat ads and figure out the big picture. If possible, more of these! I'm also interested in your thoughts on the used boat market. You've mentioned how it changes throughout the year, especially around the boat shows and hurricane season. But it would also be helpful to know what's going on year to year. What's happening now, a couple years after covid? Any way to predict what the market will be like in the near future? Also, what about weekend cruising or racing boats, which aren't going to the Caribbean? What's the buying cycle like for those throughout the year? Just some ideas for future videos... Keep it coming!

Yes that guy, sailing Lattitudes, is jealous of all other sailing channels because his subscriber count is deservingly low…the only boats he likes is Beneteau.

Completely agree with you. I told that guy (Sailing Latitudes) that all of his negative commentary about other RU-vid channels would turn people off and I advised that he just focus on his own content. He responded by insulting me. Fair enough. Be a jerk and watch your subscriber numbers stay low.

You forgot about the rising sea level making seaside condos a risky investment

Exactly this. Our brand new Pearson 30 in 1972 was about half the price of our house back then. My dad said the other costs were insignificant, less than a car payment. I checked on just slips costs around Tampa & I just couldn’t afford to keep one. It would have to be a liveaboard, voyaging life or nothing.

But there isn’t much sea level rise or more hurricanes. Got’a quit consuming alarmism from the MSM.

No it's not , catamarans are not suffering this price drop at all .

put all them migrants in them boats. Housing problem solved. Let em float away.

If they sit for very long they will need plenty of $$ to bring back to a reasonable condition. The other driver will be replacement cost. If you can buy and fix a used boat much cheaper than buying a new one it will drive the boat manufacturers out of business. The real issue with most owners is the cost to keep them if you are tight on cash. Storage/marina fees and insurance fees are a constant nagging problem. Boats go into disrepair and then the marina fees aren't paid and then the marina ends up owning a boat they can't sell because it is trashed.

You encountered the "I know what I got" boomer. As the interest rates on their reverse mortgage continue to climb and it sits on the market for half a year accruing marina and maintenance costs, you will see a price drop.

​@Shrouded_reaper my sense is that some sellers put their boat on the market just to see if they can get a high ask. This tactic might work for a unique high quality boat for which few comps exist. Some sellers are looking for that one guy who will defy the market and pay the price. In the absence of this, the owner is fine continuing to use the boat. That's my read.

There's no law, but some marinas may require a policy to keep your boat there. The biggest thing is not losing your $80-$100k investment.

@@ngrunsfeld thanx

It depends on where you live. Places like California make it pretty hard to own a boat w/o insurance. Check your local requirements. If you are going to take it to some other country then check the rules there.

@danielboughton3624 thank you. I am being lazy n asking the experts for info. Lookn to buy my first boat this time next year

Almost every marina requires a minimum amount of liability, but aside from that you can do what you want. In the past a lot of people wouldn’t carry insurance if they were cruising just because of the cost if you don’t stay in a geographic area. My insurance doesn’t cover anything north of Port Hardy, or west of Neah Bay which is fine for now

Funny you said what I did almost word for word. I typed it in first few seconds of the video.

No, you cannot, draft is too deep.

Thanks for watching 😊

hard to believe there's anything else still sailing...

@Lady__K__Sailing Not certain what there is to discuss, I'm certain you just accidentally used Hinckley footage in your presentation. Very few boats out there have the pedigree of Hinckley, certain not Hylas. I own a Mason myself. Appreciate the goal of your channel, keep up the good work!!

Is it a sailboat?!

@Lady__K___Sailing bigger then a bread box?