Does a distress sale set the market?
12-07-2008, 11:46 AM
#31
Registered
interestting observation.....
no one is jumping all over jupiter sunsation.....
and that says ALOT
could it be we r allfinally coming to grips with the reality of how this is affecting the powerboat world now?
two months ago JS was about to get stoned to death...
no one is jumping all over jupiter sunsation.....
and that says ALOT
could it be we r allfinally coming to grips with the reality of how this is affecting the powerboat world now?
two months ago JS was about to get stoned to death...
12-07-2008, 12:53 PM
#32
Platinum Member
Platinum Member
P.S. Stecz has removed the hit order on JS.
12-07-2008, 01:22 PM
#33
Registered
haven't read all the posts....but I would believe that a distress sale sets the market for distressed sales....those that can hold on through the hard times can sell when the market corrects as far as true market value....if however, you MUST sell (distressed) then I believe that the market is set by what someone is willing to sell an otherwise more valuable property but for the distressed situation.........so.... Yes and No
12-07-2008, 01:28 PM
#34
Gold Member
Gold Member
Well most of the Miami boat show (Feb 2008) Cigs are still still unsold. In years past they were sold at the show and on the poker run the next weekend.
The dealers won't want to discount any boat but the fact is it is winter and they now own leftovers. They have a hard number that they need to get to break even but that number grows every month with the floorplan costs so at some point they have to sell it potentially for a loss and they will be less likely to order new boats for the floorplan. I think Baja Will mentioned he lightened up his floorplan significantly this year to avoid losing money on the floorplanned boats.
The dealers won't want to discount any boat but the fact is it is winter and they now own leftovers. They have a hard number that they need to get to break even but that number grows every month with the floorplan costs so at some point they have to sell it potentially for a loss and they will be less likely to order new boats for the floorplan. I think Baja Will mentioned he lightened up his floorplan significantly this year to avoid losing money on the floorplanned boats.
There are distress sales all the time, in every market good and bad. Just because 1 goes cheap due to some unusual circumstance that does not necessarily change the market. However, there are certainley many more distressed boats for sale now (probably more to come); until they are absorbed, prices across the board wil suffer. Basic supply vs demand.
12-07-2008, 02:10 PM
#36
There are some stellar bargains on used right now. We all know that.
My question: Does a single distress sale of a certain model set the market price?
I usually argue that it does NOT.
Lately though, I am led to believe that it does.
My reasoning is that even though we all recognize a distress sale when we see it, it becomes market.
Too many experts here will be sure to point out the previous sales prices when other boats come up for sale.
You hear people,( not pointing fingers
), say things like:
1) Why should I pay xx when you only paid yy last year.
or
2) That boat isn't worth aa because so-n-so just paid bb for a similar model.
Many other examples I'm sure out there.
Anyone else have a thought?
My question: Does a single distress sale of a certain model set the market price?
I usually argue that it does NOT.
Lately though, I am led to believe that it does.
My reasoning is that even though we all recognize a distress sale when we see it, it becomes market.
Too many experts here will be sure to point out the previous sales prices when other boats come up for sale.
You hear people,( not pointing fingers
), say things like: 1) Why should I pay xx when you only paid yy last year.
or
2) That boat isn't worth aa because so-n-so just paid bb for a similar model.
Many other examples I'm sure out there.
Anyone else have a thought?
nope, its a combo off all the boats listed (average you could say) because once the distress sale is over then so is the low price if there arent any others priced that low then the price (average) goes up..
my .02
12-07-2008, 02:12 PM
#37
Registered
12-07-2008, 03:03 PM
#38
http://www.offshoreonlyclassifieds.c...o19056-en.html
Been for sale on OSO for over a year.....
http://www.offshoreonlyclassifieds.c...o21517-en.html
http://www.offshoreonlyclassifieds.c...o20758-en.html
I believe the other boats on display were pre-sold customer boats (46 RR and a 50 Marauder).
Here was Lauderdale show Oct 08:
http://www.offshoreonlyclassifieds.c...o25864-en.html
http://www.offshoreonlyclassifieds.c...o23151-en.html
Not picking on Cigarette (but their boats are more unique/ memorable/ non production).
Hideaway still owns the Vegas OL 46 Limited that is a new 07 approaching its 2nd birthday but some will say it is because it is a theme boat.
Last edited by Jupiter Sunsation; 12-07-2008 at 03:10 PM.
12-07-2008, 03:05 PM
#39
Ha. Didn't know Stecz got his slingshot back from the school principal yet........
12-07-2008, 03:09 PM
#40
We can do this analysis with any brand of boat, car or even real estate nationwide. Nothing is turning the wheels of capitalism right now.
