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Subject: Re: [world-cruising] Buyer's Market
JAXAshby@XXX.XXX
Date: Mon Apr 07 2003 - 13:11:43 EDT
In a message dated 4/7/2003 12:35:22 PM Eastern Daylight Time,
capella@XXX.XXX writes:
> However, I'll stand by the actual experience of the market here in
> Annapolis
I'd forgotten you were in Annapolis. For what it's worth, Annapolis seemed
to a be a beehive of activity two years ago when I first started noticing
things tighening up here in the NYC area. Things didn't crash here, but
people suddenly stopped being on the water (powerboats started to disappear
in 2000, with most [it seems] gone by 2001; sailboats disappeared off the
water a little bit in 2001 and a lot in 2002).
Market got squishy in NYC, then in ME/Boston, then a little bit in Florida,
and more in SF. SE and Gulf Coast followed a bit, as did Seattle. Newport
perhaps as well. Canada went in the crapper.
Buyers seemed heavily weighted towards computer types, then turned towards
construction workers. Annapolis seems to draw heavily -- income-wise -- from
the DC corridor. I anchored in Back Creek last summer and guestimated there
was probably more than a 1/4 $B in boats there, most of which didn't move at
all over the several beautiful days I was there.
Where I've seen the most lack of professionalism was with brokers in Florida
(particularly) along with Texas, the Cheseapeake south of Annapolis and the
coast south. Brokers on the west coast you really have to press if you want
any response at all. (One broker in Boston had his phone disconnected
between the time I spoke with him about a particular boat and two days later
when I was in Boston to see it.)
I have to admit I'm not looking for a floating condo or anything like that.
(I want to go in harm's way with a boat small enough to muscle it myself
without undue trouble). This I know is not the end of the market a broker
can make 5 and 6 figure commissions on, but then I'm clear I'm not looking
for any particular handholding. Just some information, and if it sounds good
I'll take a look and -- if it is what I hope it to be -- make a decision.
Information (on boats brokers have paid money to advertise) has been almost
utterly lacking. Even the most basic of information. Information that when
I indicate it is part of my decision criteria I've been told that I of course
need to engage a surveyer after I sign the agreement. I don't need a
surveyer (and will hire one eventually only when I need insurance), I need
information. Even complaints to broker management doesn't bring much
additional answers to ordinary questions (such as fin keel or full keel?, or
what make of engine?). In one case I asked what kind of stove, and got the
answer, "Propane... probably." (reasonably likely on that boat was kero or
Origo).
There is another reason (outside of boat prices) I am so closely watching the
boat market, and that is I intend to end of my days of cruising (should I
decide to return to a land based environment) with more money in the bank
than I started with. This means making money along the way. Potentionals
(for me) are broker sales, diesel engine repair, outboard repair, sail repair
and canvass work. If the market drops badly, the potential for money in
those areas drops even more (less need, more than enough skilled people to do
the jobs), and I have to consider other alternatives.
[Non-text portions of this message have been removed]
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