From my observations I have saved thousands by not jumping in and paying what I thought was a fair price.
There has been a few boats lately , to my surprise dropped in price by at least $5000 and this was on boats at the lower end of the market.
what are your thoughts ?

Are Yacht Prices Coming Down? I suggest no. There is no such thing as a cheap yacht.

There are more yachts that are dilapidated, neglected and beyond the means of their ageing owners to maintain, which will fetch a fraction of the price their owners expect. However, when you factor in the costs of repairing or refitting a geriatric yacht to restore it to a moderate level of serviceability, total costs are still high. I'll take a punt that shipwrights still make a living, and a good one is as hard to find today as 50 years ago, which ought to mean that, in real terms, costs are relatively stable.

I reckon it would be good for owners, the industry and the environment, if Australia had a viable means to dispose of end-of-life boats. Unfortunately, we are likely to see dilapidated hulks on moorings and in marinas for a while, because the owners can't afford to get rid of them. The answer to the question might depend on whether you classify these unserviceable wrecks as yachts.

Hopefully there may become a demand for dive belt weights and heavy calibre projectiles to combat pigs in the tropical north

Most of the shipwrights I know are transiting to caravan work. Yachties in general are tight arses that wont spend the money. It's only a handful of extremely wealthy people that hand their boats over to shipwrights and get everything done. Caravanners on the other hand are grey nomads that toss their money about trying to get rid of it before they peg out.

DBY boat sales are saying the market is still strong. (They deal in the pricier boats.) This reflects the crazy property market, where "free" money is still washing through the system.

On the other end of the scale, project boats are almost giveaway. IMHO we need to preserve them, because one day the public will understand that to get to net zero carbon, we need to scale back our extreme consumerism, and downsize, repair, and recycle everything.

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Ramona said..
Most of the shipwrights I know are transiting to caravan work. Yachties in general are tight arses that wont spend the money. It's only a handful of extremely wealthy people that hand their boats over to shipwrights and get everything done. Caravanners on the other hand are grey nomads that toss their money about trying to get rid of it before they peg out.

In the Melbourne suburb of Campbellfield there are at least 10 to 15 caravan manufacturers all within 3 blocks of each other. Then there are all the trailer makers and associated parts suppliers. In any one street in Campbellfield you could say 30% of the street is related to caravan manufacturing. Then there is the associated employment boom. The Ford factory might have been big, but this industry is employing hundred of workers and work for contractors.

The thing that strikes me is that if you look at the price of what people are paying for a largely poorly constructed off road van in comparison to say a mass production BENETEAU or any mass produced yacht. In my opinion the yacht is the real bargain. Based upon my brothers experience of buying a top of range off road van loaded with Chinese crap that has all failed and leaked yachts even old ones are a good bargain in comparison considering how few problems you will have and the quality of material and construction.

But you are right, its cashed up market and there lot of sharks circling for suckers in this market at the moment that will making buying a yacht with osmosis or a rotting core looks like childs play!

All non essential stuff is dropping in price. Morning Bird has resold at much less than I sold her for, and I sold at a fair price at the time ($42,000).
I'm into British sportscars, the TR series. Two years ago I had people desperate to buy my TR6 for $55,000, I'm now looking at selling it and the market is $42-45,000 if I can find a buyer.
A look at the yacht (and car) sales sites shows asking prices being reduced and selling prices accordingly. Two to three years ago people were borrowing $50-100,000 on their mortgage with additional repayments of a few dollars. That isn't happening now.

Work for the very wealthy,who were buying toys during covid - can travel overseas now ( Rugby World Cup )and have moved on !
+ the bottom end has dropped off a cliff,with freebies/abandoned = bays full of flotsam !!!
Mason

I feel it the absence of people with the time and skills to repair, improve older worn out yachts and boats that is having the biggest impact. A new or like new craft can still demand good money but if it needs time and work the value is falling through the floor as people seem to just want to get out and do it or show off their wealth to others not do any hard work to recover something in need of work. Just my two cents worth.

Agree with Grith - unless one has the ability of Ramona,any project boat is unviable,when considering the cost of labour - that is if you can get anyone to turn up !?
2 year wait here for builders,with quote going up 30% every 6 months,if they do not go broke in the meantime .
But,as mentioned,Caravans are going gang busters,for now !!

I agree re getting contractors to work on old boats. I used to think you needed either lots of time or lots or money. But now I realise the only viable one of these two options is lots of time, as the tradies simply don't want to work on old boats.
And who could blame them - bent over double working on a 35 year old diesel like mine and then haggling over a few hundred bucks with the povo old owner (like me), when instead they could be doing jobs priced in the the tens of thousands on big trophy motor boats with big clean engine rooms and shiny big diesels.

I learned it all from scratch, and apart from the very first AF when I knew diddly-squat, have only paid people for the canvas work. My boat must be close to the financially "worst deal ever" to quote you-know-who. But the pleasure has been immeasurable.
Cheers, Graeme

The price of new continues to skyrocket however so in the end second hand has to follow it although only once the covid supply constraint premium has disappeared

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julesmoto said..
The price of new continues to skyrocket however so in the end second hand has to follow it although only once the covid supply constraint premium has disappeared

Good point !!
If you looked at the time, the materials used to build and fit out a 30ft plus fibreglass yacht, that is 30 to 40 years is good value, if you had to replace it today.
Sure, you may have to re-engine the boat at some stage, without breaking the Bank!!
The trick is, keeping up with maintenance!!!
Sometimes, I think looking after the holiday house and garden, is less Work !!! Lol
But Sailing is hard to Beat !!
Cheers...

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BeamReach said..

julesmoto said..
The price of new continues to skyrocket however so in the end second hand has to follow it although only once the covid supply constraint premium has disappeared

Good point !!
If you looked at the time, the materials used to build and fit out a 30ft plus fibreglass yacht, that is 30 to 40 years is good value, if you had to replace it today.
Sure, you may have to re-engine the boat at some stage, without breaking the Bank!!
The trick is, keeping up with maintenance!!!
Sometimes, I think looking after the holiday house and garden, is less Work !!! Lol
But Sailing is hard to Beat !!
Cheers...

Trying to duplicate the panoramic water view from your yacht in a holiday house would be kind of expensive.

Also the view from the balcony of my sailing club which I have pretty much all to myself during the week complete with kitchen shower and toilet facilities is no different from the seven million dollar plus waterfronts alongside it :) .The required couple of afternoon's time contribution per annum wouldn't keep any lawn mowed and the membership wouldn't pay rates on anything.

+ you can change the view/neighbours,on a whim !?

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PLanter4 said..
+ you can change the view/neighbours,on a whim !?

Yep good though Pittwater is the human heart is always looking for something different so it's off to Airlie Beach again tomorrow.

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julesmoto said..

PLanter4 said..
+ you can change the view/neighbours,on a whim !?

Yep good though Pittwater is the human heart is always looking for something different so it's off to Airlie Beach again tomorrow.

Fuel has gone up 25% With further rises around the corner,
hope your your car is fuel efficient.will be cheaper to buy gold .

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p3p4p5 said..

Ramona said..
Most of the shipwrights I know are transiting to caravan work. Yachties in general are tight arses that wont spend the money. It's only a handful of extremely wealthy people that hand their boats over to shipwrights and get everything done. Caravanners on the other hand are grey nomads that toss their money about trying to get rid of it before they peg out.

In the Melbourne suburb of Campbellfield there are at least 10 to 15 caravan manufacturers all within 3 blocks of each other. Then there are all the trailer makers and associated parts suppliers. In any one street in Campbellfield you could say 30% of the street is related to caravan manufacturing. Then there is the associated employment boom. The Ford factory might have been big, but this industry is employing hundred of workers and work for contractors.

The thing that strikes me is that if you look at the price of what people are paying for a largely poorly constructed off road van in comparison to say a mass production BENETEAU or any mass produced yacht. In my opinion the yacht is the real bargain. Based upon my brothers experience of buying a top of range off road van loaded with Chinese crap that has all failed and leaked yachts even old ones are a good bargain in comparison considering how few problems you will have and the quality of material and construction.

But you are right, its cashed up market and there lot of sharks circling for suckers in this market at the moment that will making buying a yacht with osmosis or a rotting core looks like childs play!

By chance I was just down picking up plumbing bits from a caravan repairer. He confirmed what I've noticed - that caravans are built very poorly, compared to boats, and apparently the ones built in the Covid boom are even worse. I've been modifying a fitout in our campervan which really shows that it's not hard to build something that doesn't leak like a caravan does if you build it properly.

It's also interesting to look at all the Youtube videos about people building their own campervans. They tend to look pretty shocking compared to boats - lots of heavy 2 x 4 pine frames with one screw driven in at each corner.

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julesmoto said..
The price of new continues to skyrocket however so in the end second hand has to follow it although only once the covid supply constraint premium has disappeared

Are the new boats selling in any numbers at the asking prices??

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MorningBird said..

julesmoto said..
The price of new continues to skyrocket however so in the end second hand has to follow it although only once the covid supply constraint premium has disappeared

Are the new boats selling in any numbers at the asking prices??

Wouldn't know sorry but there do seen to be plenty of people around with lots of money for expensive cars and houses so I presume a new boat wouldn't be a problem either

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MAGNESIUM said..

julesmoto said..

PLanter4 said..
+ you can change the view/neighbours,on a whim !?

Yep good though Pittwater is the human heart is always looking for something different so it's off to Airlie Beach again tomorrow.

Fuel has gone up 25% With further rises around the corner,
hope your your car is fuel efficient.will be cheaper to buy gold .

Yeah it's quite horrific at 23 litres per 100kms. I should probably slow down a little.

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julesmoto said..

MAGNESIUM said..

julesmoto said..

PLanter4 said..
+ you can change the view/neighbours,on a whim !?

Yep good though Pittwater is the human heart is always looking for something different so it's off to Airlie Beach again tomorrow.

Fuel has gone up 25% With further rises around the corner,
hope your your car is fuel efficient.will be cheaper to buy gold .

Yeah it's quite horrific at 23 litres per 100kms. I should probably slow down a little.

Haha!

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julesmoto said..

MAGNESIUM said..

julesmoto said..

PLanter4 said..
+ you can change the view/neighbours,on a whim !?

Yep good though Pittwater is the human heart is always looking for something different so it's off to Airlie Beach again tomorrow.

Fuel has gone up 25% With further rises around the corner,
hope your your car is fuel efficient.will be cheaper to buy gold .

Yeah it's quite horrific at 23 litres per 100kms. I should probably slow down a little.

What are you cruising in, to Airlie??

Must be your new 60 ft Sunseeker!!

Twin petrol engines, a litre per minute, in moderate conditions!!

Yeah just done the Mc Donald ranges ,tropical north QLD, ,Arnhem land, Kakado, and The Gibb at an average of 8.5 lt per 100 kms towing my camper trailer
. Fuel is criminally expensive.

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Jolene said..
Yeah just done the Mc Donald ranges ,tropical north QLD, ,Arnhem land, Kakado, and The Gibb at an average of 8.5 lt per 100 kms towing my camper trailer
. Fuel is criminally expensive.

If you believe something should be worth what it costs to produce then it should be 3x the price (est cost of direct capture ethanol). If you believe using all of a very useful limited resource (sails, paints, rope clutch grabby bits) and saying screw you to the future generations is fair then yes it is criminally expensive.

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Jolene said..
Yeah just done the Mc Donald ranges ,tropical north QLD, ,Arnhem land, Kakado, and The Gibb at an average of 8.5 lt per 100 kms towing my camper trailer
. Fuel is criminally expensive.

8.5 l/100km sounds pretty good. Guess you are talking diesel which has more energy/litre than petrol. Replacing all the diesel energy in use today, with electricity, is going to be totally impractical.