What are the feelings on the current market sentiment for pre-owned yachts? To frame the question, the segment is six-figure (under $1m) yachts in the North American market. Superyachts sold in Hong Kong aren't interesting to me. Further, let's assume an "average" vessel in "average" condition among its for-sale peers. Yes, there are extremes in all directions regarding condition, price and features. And there is the golden mean. How is the supply of for-sale yachts? What is the typical spread between ask/list and sold prices? It would be great if recent sellers could chime in with their experience. Thanks!
I am talking about yachts. Spoke with an owner today. "Boat market is not good for sellers. Lots of inventory. Buyers are reluctant." The owner wants to do a transaction with no broker.
lol… under a million dollars means a cabin cruiser, not a yacht. So how is one owner who doesn’t want to use a broker representative of the market?
Whatsoever shall be sought, shall be found. Closed sale data can be found online if you look for it. 10% price reduction is table stakes for a seller to get a boat sold. Seller's personal situation (aging, health, death of an owner, lost interest in boating, desire to move to a bigger boat, etc.) can mean price reductions of 50%. I am tracking listings and a few have been price-reduced, a few obviously properly-priced boats have sold and a bunch of listings are languishing. One listing just caught my eye and it seems to be listed at a fire-sale price for an otherwise OK-looking boat. I am not pulling the trigger just yet so it will be interesting to see how long that listing remains active. Sentiment: seems to be a buyer's market. Sellers wishing things were better.
It doesn’t necessarily define it but can you really call a 45’ boat a yacht? Because a new 45 footer will cost about $1M these days and a yacht it is not.
It depends where in the country or world you are. In Tennessee or some parts of the Great lakes or other areas, a 45' boat would be called a yacht (if it's a motoryacht with a few staterooms) as some places that's the biggest you could even get dockage for. In most places calling a 45' a yacht would be a stretch nowadays but wasn't 20 years ago......
