As most of you are probably aware the economy is currently in an unprecedented storm.
For the last several years we have seen a deflationary spiral in hard assets like never before and this has become very evident with the value of recreational items in particular boats.
Not long ago you couldnt touch a decent C22 for under $5k around here. Now I have seen several go for less than half that on craigslist.
Do you think we will return to a time of incredibly high gas prices like back in 2007?
If so wouldnt that make sailboats incredibly desirable?
Just thinking out loud really since my 401k isnt going anywhere
If I had some place to store the things, I'd be buying them up right now. A c22 sold this week on eBay for 2K, boat, trailer, outboard, had 1 bid, was listed the week before for 2.1K, no one bid.
These boats were built when there was a working middle class, just look back at all the manufacturers back in the 70's and early 80's, lots of competition. The powers that be have decided there should no longer be a working middle class so the few builders of today cater to the higher end market. I bought a new Ensenada 20 with trailer at a boat show for 5.2K in 74. A Catalina 22 was about 7K, Cape Dory Typhoon about the same and a Ericson 23 was around 9K back then. My wife and I went to our local boat show this January and there were all of 7 sailboats there, the cheapest was a new, two year old Hunter 30 for something like 98K. Those 1974 dollars had more purchasing power then the dollars of today.
Gas prices will go up, no doubt once BP figures out all the costs of there mistake in the Gulf, and it will industry wide. Not wanting to become political, under the previous, we fired a few rounds of 50cal at two inflatable boats in the Persian Gulf a few years ago and gas at the pump jumped something like 25 cents a gallon overnight. The worst oil spill in US history. and gas prices are holding steady and have even gone down a bit in my area, go figure.
1978 Chrysler 26 "Maudie Kay"
1984 Catalina 25 "REDUX" (rebuild)
It's better late than never
Sailboats, even though we love them esp the old Chryslers, will long term devalue. Could you pick up a buck here and there, sure. Can you profit long term, everytime ? Ehhh..not so much
The Cal21 of mine is a good example of a bad case. It was free. By the time I get thru painting it, refurbing the interior, maybe doing some re-rigging, throw in my labor rate, I'll have put $2000 into a boat with a blue book value of $2200. And it started off Free. It's just hard to get somebody to pay above book value for what is essentially a toy.
Again not to be political since we don't do that here, but to answer what Sauerleigh said - the BP spill in the Gulf won't affect prices like events in the Middle East do is because the spill is in a stable region. Over there the fear factor that the entire flow will be shut off is what drives prices up when somebody goes goofy.
What will be afffected is the price of seafood. 33% of the American seafood you ate last year came from our Gulf waters.
Back to Chryslers and sailboats, can you believe that the NADA guide on line suggests you list a barebones 1980 C26 for $14,305 ? And then says the average retail is $4600. Neither are very likely in the real world !!
LOL it only took me one trade to get the C-22 and then I had 6 months of fun getting it sea worthy, and because its ready to sail is why I wouldn't sell it cheap.
I think the yonger generation just expects "new and improved" all the time. so anything that needs work isn't worth much.
I just call the C-26 a gift what it would cost to bring most boats to its condition would be very expensive.
At this time I wouldn't turn down a free boat but I don't think you can make money tring to flip them.
If you're welling to hit the road and perhaps have an additional trailer sitting around and plenty of time on your hands. Chrysler's... even c26's can at times be found for a song. Sadly I know in my case to much of a good thing... at times is not good at all. Case in point, back in the day I had to withdraw an excepted bid for another c26. Personally I was both very embarrassed and mad for having to withdraw, but I'm sure the person feeling he had a firm sale was even madder. To this day I don't know if I could face the guy.
Terrence
Wilmington N.C.
Chrysler 26 1980
Pandora (for now)
Deals are out there for sure but you will spend a LOT of time and money chasing down bum leads. Once you do land that cheep sailboat all proffit melts away in labor time, not to mention the over looked defects you are sure to run into.
AS for gas savings, I'm not so sure there are any, least not in my case. I have a stink pot I can launch on our local lake ( six min. from driveway to ramp) and run most of the day for the same price or cheeper than pulling the sailboat with my truck 45 mins to the sailing lake and back. And if I were to put the sailboat in a slip, I pay if I use her or not.
I'd better slow down or I'll be making someone a great deal on a sailboat and stink pot. O'well, happy boating.
Here is a historical perspective, somewhat related: In the late '60's there were still Shelby 427 Cobras new in dealer show rooms. Some sold new or nearly new for just a few thousand dollars. At their peak in the 90's, they were close to being million dollar cars. But even then if you factored in storage, insurance and maintenance, they were not a good investment.
Buy boats (and cars and bikes) because you love them. You might make money, you'll probably lose money, but the joy of ownership is what it's really all about.
I never made a nickel on anything that moves on roads or water or four legs for that matter, (old cowboy)....but I've had a heck of a lot of fun and learned a bunch....at least I think I learned a bunch....uhhh...I hope I learned something. Sure I did! I learned I ain't gonna make any money on anything I have fun with except possibly guns.
