Prices are just going back to where they should be. During the pandemic prices went absolutely insane, 40 year old trawlers have very little value in the real world. Even though the hull may be ok all the wiring and hoses and seacocks need to have been replaced, if it's got black iron tanks that's $30-60k to fix, leaks in the windows/ fly bridges/ etc are tens of thousands of $$$. I see listings all the time for boats that have Lotan C, as if that's a good thing, it just points out that the boat has had minimal maintenance and upgrades during its life. Those boats may be worth less than Zero!
@jeffm6273 Lotan C? LORAN-C was a ground-based navigation system operated by the U.S. Coast Guard. In May 2009, President Obama declared the system obsolete and announced plans to terminate it. This system has been replaced by modern GPS.
Wake boats on average are 100k +. Here in I Utah so many folks have new boats that are only useable for 3 months of the year comfortably the other 3 months are with a wet suit. Wintering is a must or you crack your block. It’s just isn’t worth it for a new boat as each trip (thinking ROI or use for cost) it’s like 3-5k per trip plus gas and food fees and fees and some more fees.
Downsizing is real. Sold our large home. Bought a small house, and our own slip. Just waiting for the right boat to become available at the correct price. FEMA flood insurance on our old waterside home went nuts. Dreamed for years on retiring to Florida. During those years that dreams price skyrocketed. Now back to our feet in the sand "comfort" level. Glad I just found your channel.
Blame the hedge fund folks. They bought the marina you're in with borrowed money. Then they need to jack up the fees to not only pay the loan but cover their "fees" which often are outrageous. It is the same in most industries and will only get worse. This business model has created the greatest wealth inequality since the Gilded Age of the 1880s, and is encouraged by the government which gives the hedge fund owners and managers a max income tax of 15% while you face 37%. Yes, the game is rigged and not in the little guy's favor.
Well this isn’t quite accurate. Max long term federal capital gains tax rate is 20%, not 15%. This rate applies to gains of over $518,000. And you seem to be comparing this to maximum ordinary income tax rates of 37%. So do a little more research before you post.
My brother home owner insurance tripled this year. I had to rush and completely repaint the house in order for him to get an affordable home owner insurance. With me doing the work for free the total was still almost what he paid to have the house painted the last time. I do not think it panic selling, I think people are getting real with what they can really afford adjusting to all the increases across the board. The news commented that groceries went up a little over 20 percent the last few years. I sure like to know where they are buying groceries because a lot of things have went up fifty percent. Timely video and your right, a lot of job now do not pay enough for people to afford to be able to drive to that job. Sad part your little job once would have been a great lifestyle job, but not when it takes three weeks of work to pay a boat slip.
Some Grocery items here in PA 100%, up otherwise known as double the price. Yesterday paid almost $8.00 for gallon of milk at the largest grocery chain in central PA / Harrisburg area. 20% is a joke. I don't think people understand percentages.
I am a broker selling boats. You have hit the nail on the head. Sellers don’t realize like buyers the market has changed. If you are not flexible today in selling there wont be a sale. Product must show well be in extremely super clean condition to achieve the best possible price. Enjoy your video
100% but the guys that get it will sell and the guys with there egos will keep paying the bills on a boat that will keep needing money 💰 thanks brother
Up to this point, I don’t think the political party system is actually relevant anymore. I think people just need to be smarter about everything. We need to protest for the right reasons and we need to put the party line away and stand up together. If people in whichever party is corrupted, we need to protest to remove them, regardless. Stop protecting and electing corrupt politicians just because you like your party to win. If you are given the two choices, pick one with less corruption. Don’t judge people based on accusations, let’s look at their past and determine who is actually benefiting themselves rather than the country. Who became wealthy after taking public office? That’s the sign of corruption. If you are already wealthy and take public positions to serve your country, that may be the sign of real leadership. Don’t fall for sweet talk and cheap promises. Fight for the fundamental principles and values.
Agreed! Sad thing is 99% of politicians are corrupt in some form or another no matter what letter is behind there name!! All the way down to the local level! This country is in big trouble if people don’t wake the hell up!!
My slip in Bay City costs the same as 1 month in FL. We are able to live on our sailboat from April to October, and then rent a condo in SC from Nov-March for about the same cost as a liveaboard slip in FL. If you can find one. Plus, when we quit voyaging after a decade and took our boat back to the Great Lakes our insurance went down $3000.
Trailerable trawlers are back big time . Think Bayliner Bambi . Store it in the backyard on the trailer and don't even have to bother with a boatcover . Low cost semidisplacement hulls . Long range fuel effecient cruisers in small packages .
People would rather put food on the table! Home insurance up, boat insurance up, groceries up, gas up, everything up…. Keep printing Demorats!! Vote POLICY!! ❤️❤️
Most boats are less than worthless, due to the high cost of slippage and maintenance, and due to the fact that most used boats have far less than required maintenance because of that. The best boats are the ones owned by real sailors, who use them often. But those rarely come on the market. Insurance is yet another grift. My friend who cruises full time says "i put my insurance payments into maintenance". He doesnt have insurance, and wont slip his boat.
I seriously considered buying a trawler to retire on for a while to cruise the Bahama's and Caribbean but the reality is I would not have retired. I would have paid to become a full time boating maintenance worker footing the step costs for everything needed as I traveled.
I think your assessment is spot on but prices will take a bit to drop on everything. We probably bought too soon but we found a clean boat that surveyed relatively well with an owner that was ready to sell. He dropped the price enough to more than cover the issues uncovered in the survey.
I've heard from someone that the statistics on boat fires show a slight uptick. Sounds logical, when personal revenue lulls or even takes a long-term hit, the cost of ownership goes up and on top of it, the prices start coming down because people are dumping their boats on the market, temptation might be high to cash in the insurance money (which may be above market price).
Interesting to hear the cost in the US. It’s also bad here in the UK. I see poplar boats not moving… it’s going to get a lot worse over the next few years
I got lucky sold during pandemic full price , Miss yacht ownership . Don't miss all the bullshit that goes with it , Especially in current financial times , I know that next boat will come along , just not sure if I want too go down that same road , I am addicted too ocean life and get my fix with a trailer Grady , Also got into motorized kayak fishing skinny water , What a blast , KISS formula for now , Only thing I miss is hanging bullshitting with fellow boaters at marina ,
Boat expenses are nuts everywhere but boat values are definitely dropping as you said. I was at a marine insurance seminar sitting at lunch with a few big wheels and the comment was made that boats will be for those that can buy cash and self insure. The powers that be are worried and we are 4 storms into a 30 storm season!!!!!!!!!!!
Thanks for the video … for $1800/mo, what’s the size of your boat and do you live there alone or share it? That cost is slip rent, insurance, taxes - any financing or maintenance included in that?
A 1988 boat is a maintenance nightmare and new boats are still way overpriced you got to disconnect wages from cost-of-living inflation the inflation living expenses is astronomical because of government spending employers are not required to give you high wages because of the high inflation
I think you are doing the right thing charging an hourly rate. I doubt it has bottomed out. I would expect that after bottoming out, the prices will rise back up some. But unless slip rentals change, the price is sure to drop and stay below the pre-pandemic level.
I wonder how much the current economic situation vs. fear of the unknown is playing into this ongoing panic selling. As you said, fuel could be an issue and it may be a matter of expensive fuel vs. unavailable fuel because first priority would be the trucking industry if supplies dwindle. For me right now, I personally wouldn’t buy until after the election and if it goes one way I wouldn’t buy at all.
I’m waiting till prices drop so I can buy at a good price and then I can retire 😊 and since I’m a diesel mechanic I can get a boat with engines that I can do anything to and save a bunch on maintenance and repairs 👍
I’m wanting to sell my house and 4.5 acres of land and invest in a nice live aboard. My thoughts was to retire and live on the rivers and enjoy the slow life. I live roughly a half hour north of Nashville Tennessee. Wond how hard it would be to make the change in life.
I work for a company who builds boat seats for a few large manufacturers. The last couple months we are really slowing down ! Scary cause it’s a small company with only about 40 people
Thats the way I would sell my Hatteras, a good price, low negotiation over any repairs etc. and AS IS. Why ? I maintain it, keep up on systems, but like you've said before, you can walk on your boat and spend $30K in a few minutes and that is the same on most boats similar to this. Also, selling it a that price may have saved him a 1-4 months of slip fees, hull cleaning, washing etc. that was a smart seller IMO.
You're right but as an owner I would think I would add a whole year to that evaluation when planning to sell. So the owner saves a year's worth of: repairs, regular maintenance, slippage fees, insurance, etc etc. Add that up!
You and the other captains of the resort’s marina need to all step down. That company cares less about their employees if you’re only getting $25/hr. Seriously talk with the other boat captains and demand a decent wage for the skills and responsibilities you have. The next storm that comes through stay at the dock. Tell them $25/hr is only day time fair weather captain pay.
Except the marinas’ costs increased too. All inputs for operations have gone up. Equipment repairs, fuel, insurance. Wouldn’t be so quick to pass judgement on the company.
don't fully cover your boat with insurance (if that is what your doing), just get the basics. If you can afford a 80k boat you can afford to straddle the insurance issue.
Supply and demand…people will buy what they need first before they buy what they want. Spiraling inflation caused by rising oil prices and reckless government spending is the cause….Pray for change this fall…
I don’t feel bad for any one that got stuck with a boat that they really had no business buying in the first place. The waters around here have been flooded with novice boaters and have created an unsafe environment out there. Hopefully things will be back to normal very soon.
I like the hrly rate make them pay for your time up front, gives them more incentive to become competitive on pricing, realtors should do the same thing.
Looking to purchase what’s the best website to get values ? For reference it’s a 2018 scarab 262 with 250 verados fully loaded with 69 original hours on it with continental trailer how do I find the value ?
Yacht Insurance is crazy...I sell it and see it everywhere across the US. If your going across the pond it's expensive already. Don't see it coming down anytime soon especially with all these hurricanes. Self insure if you can and carry a liability policy...only way to get ahead in this game.
This is only the beginning. Sellers are still in the “denial” stage. Once sellers realize there are fewer buyers and their expense continue to rise…prices will drop dramatically. I give it 60-90 days…or when the next planned-demic hits.
As said here an old boat is literally worthless in the real world. It's a neverending money pit. I have an old boat myself. Bought it for the steel scrap value of 2k even with a brand new beta marine with 25 hours and some other fancy stuff. boats still are waaaayyy overpriced imho.
Trump ran the deficit up by 8.4 Trillion, gave the rich a big tax break and raised taxes on the middle class. I am glad that you understand this and are voting for Kamala Harris.
@@Steve-sg3uzthat bogus inflation spending bill provided jobs when so many had none, chipped away at long overdue infrastructure needs, and contributed to the US economy recovering quicker than any other country post Covid. Inflation happened worldwide- not just in the US. Look outside of FOX “news” and you will learn from experts that our economy is currently stronger than it was when America was great again.
Don't believe the hype. There are plenty of great options at most price points. People using math, instead of intelligence and research making goofy claims. Boats are worth what they are worth.
The administration has zero to do with interest rates sir! The Federal Reserve controls interest rates! The USA is now oil independent for the first time in 40 years. Get your facts straight!
The rich a-hole wanna-be's are getting screwed first but this depression will creep up the food chain to the currently "rich." If it flies, floats, or fucks you are better off renting it.
Vote for a convicted felon who lead a failed coup to overthrow the government. Vote for a guy who wants to be a dictator and worships dictators. Vote for a guy who lies constantly, even when there is no reason to lie. Vote for a guy who was a draft dodger and thinks Veterans are fools and disrespects Veterans. Vote for a guy who raped a woman in a store's dressing room. Vote for a guy who had sex with a 13-year-old girl because she looked like his daughter and was the same age as her. Vote for a Grifter who cons his own followers out of money.
Financial crisis is here and will worsen. The rapture will happen the first couple of weeks of October. The end is here. You only have a few days before the door of the ark is closed. Repent,pray, ask God to forgive you of your sins and you can be saved and live w Jesus in paradise forever . God Bless
@@ActiveTravelWestUSA lots of watchers are predicting based on signs in sky ,etc. Oct 9,sunrise in Israel. You tube Blow the Schoffar channel. Best documentation
Do it when you find the boat, in the meantime get on boat courses. I live in Sidney, BC and out here we are required to have a boating license and I would assume it's the same for you. However, go a little further than that and get into it as much as you can.
