[YachtForums]

Boat Show Postponed Due To "Economic Conditions"...

ST. AUGUSTINE, FL -- According to Show Management's web site, it produces some of the world's largest in-water boat shows right here in Florida. It had its sights set on St. Augustine for a full-scale boat show in May, but not anymore. The event has been "postponed," according to Show Management.

The company says it's due to "current economic conditions," but it did not elaborate. City of St. Augustine Spokesman Paul Williamson told First Coast News he believes the company was not able to get enough exhibitors.

"I don't think it had anything to do with their anticipation of people not coming to the show, but it was they didn't have enough vendors to make the show viable," Williamson said.

In the Matanzas Bay, right in downtown St. Augustine, Show Management planned to set up floating docks to show off the boats and marine products, Williamson explained.

That temporary infrastructure can be pricey-- especially in economic rough waters. "The city was ready to partner with them to make it a success," Williamson said. "It's just the market right now, it's just not the right time."

On Show Management's web site a note reads the company is still interested in St. Augustine as a location for a boat show. The company mentioned nothing about a date to reschedule.

Source: First Coast News

[NYCAP123]

This is certainly not the best of times to be a yacht broker. It's definitely a slow market, but I don't think too much should be read into this announcement. I was down in Lauderdale in the early 90's when you couldn't give a boat away. This isn't that.
St. Augustine is a beautiful city. In fact it's one of my favorites to stop at when I'm transporting. However it's not really known as a megayacht port and it is the mid-range (35'-70') boat sales that are being hit hardest by the lackluster economy. Florida as a whole is also being hit hard by the mortgage crisis, and add to that that it's getting to be late in the season for Florida activities (The snowbirds are already heading north), and it may simply be time to start casting your eyes toward the northern shows & cruising.
My understanding is that this was to be a new venue. I think that if they reorganize and plan for an earlier show date next year it will all work out. Personally, I really enjoy that town and would love another excuse to swing by a certain restaurant for their great burgers (They have other terrific foods, but I'm what I call a gormet's nightmare)and music and a certain corner bar for some good camaraderie. (Don't want to plug by name or I'll need a reservation 2 days in advance )

[scott49]

Originally Posted by NYCAP123

it is the mid-range (35'-70') boat sales that are being hit hardest by the lackluster economy. : )

As I just entered into a purchase and sale agreement on a 106 Westship. I feel I am getting a great deal on it, But if it gets to be like you said---

early 90's when you couldn't give a boat away

Then it won't be such a good deal. O'well did not buy to make money but to take the family out and have fun

[NYCAP123]

Scott,
I know a few people who buy new boats every year. Right now they're stuck because they're upside down on their notes and nobody will pay what they owe. These people were destined to take a hit eventually though. The person I primarily captain for made an excellant deal on a pre-owned boat last year. I expect he'll have it for at least the next 3 years or so. He won't lose a dime in her value. A 106 Westship is a beautiful yacht which I expect you'll enjoy for many years to come. Barring an emergency sale in the next year or two I think you made a very good investment (for a boat). Mind you, I'm no financial genius, just a guy who's been around a while.
Safe cruising my friend. I expect you and your family are heading for some enjoyable outings.

[clnewman]

"... and a certain corner bar for some good camaraderie."

Would that corner bar have a balcony overlooking the drawbridge that they've been doing construction on forever?

We visited St. Augustine last June... and fell in love with the place.

[NYCAP123]

The place I refer to is opposite the marina, frequented by a lot of crew. There's a lot of good places there though. Just a very pretty town east of US 1.

[comship]

I dont think that the above is only due to the market's crisis but also due to the fact that there too many show boats around the world and taking into account the costs for an exhibitor (in 2007 genoa boat show FIPA Group paid 650,000 Euros) it is logical that exhibitors will cease their presense to all of them.

Furthermore the European market is still high as the most of the shipyards i know they have quite long waiting list