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What’s happening with boat sales?


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If you look at ‘latest listings’ of keelers on TM there has been a surge of cheaper (sub $100k) listings last few weeks and some of them are well below that eg in the $10-25k range.

What’s happening at this end of the market? Are these owners selling to upgrade? Or cashing in because of hard times?

I know that in the $250-400k price range late model good condition production boats are flying off the shelves and there’s an acute shortage of inventory. Mainly being bought by well-funded upgrading buyers plus newbies to boating who know they won’t be spending large on expensive foreign holidays next few years. Enabled by access to cheaper money.

And the top end of the market $500k+ it seems to be as slow as ever.

Any thoughts?

 

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Haha! My retirement dream is to put together a consortium to build a sustainable marina somewhere in the Auckland region - and it would be for sailing boats only...

Lower end in AK is bleeding out due to costs, basically a 40year old boat that fits a 12m berth costs the same or more than a new one to run so perhaps some upgrades there, plus they are worth nothing ( e.g. NZ 37 Namu 20-25k) old wooden boats or poorly cared for of any material are potential money pits. Also a lot of these boats have been in the same family since new and now dad is just too old and it has to go since son (or grandson) needs something more modern to keep his family happy. Lots of reasons... but basically everyone and all these boats are just getting old!  

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32 minutes ago, marinheiro said:

my insurance broker said there have been alot of new motor boats sold since L4, most in the 7 figure territory

Yes there are some new boats coming into NZ with some big sums being spent on new or imported boats rather than buying existing NZ stock.

And the prospect of virtually no cruisers arriving, stopping & selling up in NZ this season means that’s another source of supply switched off.

But one of the big pressure points is berths - there are almost no 15m berths available in Auckland with some new boats being forced to head north.

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20 hours ago, Aleana said:

If you look at ‘latest listings’ of keelers on TM there has been a surge of cheaper (sub $100k) listings last few weeks and some of them are well below that eg in the $10-25k range.

I've been watching trademe pretty closely. I wouldn't say there's been a "surge" of listings. New listings across the board have been very low for some months. Yes there have been an increase in listings in the cheaper price range lately (although quite a lot of these are relist/renewals that were actually already there), but starting from a very low base. and as pointed out above, practically nothing in the more expensive end.

Total stock of keelers on trademe is mid 400s, which is lower than I can remember it being. And of those there are a bunch of duplicates, listed with multiple brokers etc. And others that are already sold or under offer and just waiting for the listing to expire. 

Perhaps people are holding on to their boats as they plan on using them over summer instead of taking an overseas holiday? 

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28 minutes ago, darkside said:

Aleana I heard that the Riviera dealers say they could sell as many large models as they could get berths so perhaps it is a blessing?

Haha!

My retirement dream is to put together a consortium to build a sustainable marina somewhere in the Auckland region - and it would be for sailing boats only...

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7 hours ago, Aleana said:

Haha!

My retirement dream is to put together a consortium to build a sustainable marina somewhere in the Auckland region - and it would be for sailing boats only...

It would be nice to hear of a sustainable marina in Auckland where Rivieras could get in to but were never seen or heard from again....

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10 hours ago, Dtwo said:

It would be nice to hear of a sustainable marina in Auckland where Rivieras could get in to but were never seen or heard from again....

Yes that could be a whole new thread - things that you could recycle Rivieras into. And don’t forget you’ve got to melt down the gold medallions & chains...

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