Used J Boat price falling almost as fast as the price of oil.

woodpecker

Member
496
81
The price of Jboats have always been cheaper in Europe than the US. Add the VAT and Shipping to get it over here and they are not as cheap.
Also most banks will not give you financing until the boat touches US soil.

I am sure the in the present situation there will be a lot of dumping of assets for some people to stay solvent.

 
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T sailor

Member
458
106
Chesapeake
I don’t think that boat is a good example of boat values.  That particular boat requires several hurdles for a new owner to overcome in order to properly acquire and document it.  The asking price on that boat reflects that.  If you look at any boat, most of them take a depreciation hit once they are 20 years old.  I think that is a big part of what you are seeing with the 120’s, 105’s etc...  these boats are also a generation old and the newer gen boats are hitting the market and putting pressure on prices.  120’s have definitely come down in price over the last 2 years but that boat is not a reflection of where the market is on them.
 

Who knows how much more pressure the current virus thing will put on prices but I don’t think we have seen that yet as it typically takes sellers quite awhile to catch-up with reality.  

 
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PaulK

Super Anarchist
Look at the listing. This is a boat that has been apparently heavily used by a club set up to do and train for distance racing. Who knows how old the photos are? How beat the sails are?  Maybe there are extensive delamination problems that prospective buyers have found, leading to earlier price drops? The club is perhaps going bankrupt in the current situation and looking to liquidate ASAP to avoid storage/mooring fees. Plus, VAT has not been paid, so any European buyer will have to add that to his costs. Buying a pig in a poke?

 

jackolantern

Super Anarchist
1,636
469
The J/120 on the posted link has been ridden HARD and put away WET in its life as a racing charter boat. I wouldn't be surprised if the price reflects that once it gets surveyed.

 

T sailor

Member
458
106
Chesapeake
A boat is only worth what someone is willing to pay for it.  The only way to accurately determine a boats worth is to be able to look at the recent comp sales (actual sale prices).  This is where a buyer broker earns his keep.  Without access to all that data, I don’t know how you can confidently make a valuation.  In my case, I have 4 years of historical sales data on J120’s.  The range on these boats is pretty wide, but generally you get what you pay for.  Not sure about 88’s but if there is enough sales data, any reasonable buyer can determine what a boat is worth.  It is not always easy to get the seller to agree, but atleast with J boats there is usually some good data.

 
Facts will never convince climate change and plague denier assholes on this forum, the likes of jackoff and genoa salami.

We have entered the age of plague; there is no going back to the pre pandemic norms.

 
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jackolantern

Super Anarchist
1,636
469
Facts will never convince climate change and plague denier assholes on this forum, the likes of jackoff and genoa salami.

We have entered the age of plague; there is no going back to the pre pandemic norms.
It's been years since I had an akaGP nickname. The nostalgia is nice.

 

SeattleB

Member
87
31
Its really too early to tell.  Lets see what happens in 3 months.  I would imagine most sailboat owners probably aren't hurting as bad as other people YET.  

 

Hitchhiker

Hoopy Frood
4,527
1,207
Saquo-Pilia Hensha
Is that cheap?  

Soldboats.com showed that in the period between 11/14 and 04/20 the average selling price of a J-88 was 124K with the three lowest and most recent sales being 99K, 83K and 105K.

Sounds like pretty normal depreciation at the moment.  Give it three more months then I think we will really see the effects of pandemic pricing!

 

unShirley

Super Anarchist
1,705
285
Ventura
I recently was riding my bike around the marina and saw this J 35 for sale at the local broker's docks..

I know this boat well and believe it is a lot of boat for $24,500.  I raced on it regularly in the 90s and early 00s.  It was maintained well and the owners were a super nice, kind, generous couple.  Sadly, the husband slid into dementia and the wife passed away in 2015.  The boat sat neglected at the dock in front of their house for a few years but was  bought and cleaned up and refit recently (a couple of years ago?).  It has an extensive albeit old sail inventory.  I only post this for sentimental reasons.  I had a lot of great times on the boat and miss the previous owners deeply.  If I could afford to store it and maintain it I would jump on it in a heartbeat.

Scooter

 
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Steam Flyer

Sophisticated Yet Humble
44,356
9,656
Eastern NC
The title of this thread really got my hopes up

"Used J Boat price falling almost as fast as the price of oil" suggests that the seller is paying me to take one. That would be nice, I'd do that. Unless it was a J24.

FB- Doug

 

JohnMB

Super Anarchist
2,840
611
Evanston
The title of this thread really got my hopes up

"Used J Boat price falling almost as fast as the price of oil" suggests that the seller is paying me to take one. That would be nice, I'd do that. Unless it was a J24.

FB- Doug
When the cost of storage between now and when you can use the boat is more that the value of the boat, negative pricing will make perfect sense.

I am just imagining the reaction of the poor broker who couldn't sell and ended up having to take delivery of his/her May oil position..... just stick it round the back of the garage where my spouse can't see it.  works temporarily for a small boat, not so much for a thousands of barrels of oil.

 

unShirley

Super Anarchist
1,705
285
Ventura
If you are asking about Scooter (J 35),  nothing is wrong with it that I know of.  I think the current owner paid very little for it because it was sold by the previous owner ‘s accountant for the trust and it had been sitting at the dock for a long time although the bottom was continued to be cleaned.

 




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