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Yacht Broker Ron Rickard

Yacht Broker/Consultant Ron Rickard
Fort Lauderdale, FL 33316
Tel: 954-629-3714
Ron@Luxury-YachtsforSale.com
 
Luxury Yachts For Sale News

WHEN WILL YOU FIND THE LOWEST PRICES ON MOTOR YACHTS FOR SALE AND SAILING YACHTS FOR SALE DURING THE RECESSION?

The most important question for the yacht buyer seeking to take advantage of lower prices caused by a bad economy is always the same: When are the prices for yachts for sale going to be at their lowest levels? Jumping into the market for a sailing or power yacht for sale too soon is likely to mean leaving cash on the table! Moving too late, however, is likely to have the same result.

LUXURY MOTOR YACHTS AND SAILING YACHTS FOR SALE
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177' Adamas II 238' LONE RANGER 88' MAXI YACHT
177' Adamas II Motor Yacht 238' LONE RANGER Expedition Yacht 88' Maxi Sailing Yacht
None of us know when the general economy or the yachts for sale market will hit bottom. However, history and human nature, can provide us with some definite clues on timing a return to the market. History teaches us that recessions generally last from twelve to twenty-four months. Where then, in that progression will we find the best deal? My experience tells me that when it comes to yachts for sale, the bottom of the market comes sooner rather then later in the recessionary cycle. The reason for this is two fold: First, the psychological blow, and the accompanying fear, of bad times hits the hardest once we enter that long dark tunnel! Once we have admitted that trouble has arrived and done our best to position ourselves to weather it, the psychological pain and fear begins to wane somewhat, even if the actual economic conditions remain horrible.

Secondly, the market for sailing yachts for sale and power yachts for sale is made up of two very different kinds of sellers. The first group are those who can afford to wait and therefore will NOT drastically reduce their price, but instead will simply wait for better times. The other kind of seller, those whose cash position means they must sell, move as quickly as possible to do whatever is possible to get major assets such as yachts sold. This second group, the “must sell” owners, tend to move their boating assets in the early months of the economic downturn, simply because they have to do so. The way they get it done is with drastic price cuts. It is out of these “must sell” yachts that the major bargains arise. Once drastic cuts in selling prices have occurred and these boats move to new homes, the market tends to stabilize because the remaining yachts for sale are owned by sellers who do not have to sell. They may want to sell, but they do not have to do so.

My experience over the last three economic downturns is that the greatest bargains peak somewhere in the area of three to six months after the onset of the recession. As these “must sell” owners compete with each other for the few customers in the market, prices fall rapidly and drastically.

The next set of owners whose boats end up in the “bargain line” are those that do not need to sell, but who would very much like to. These second tier owners present opportunities for bargains, because they realize that prices have fallen, but not to the degree as did the earlier group of “must sell” owners. Therefore prices tend to stabilize at a low but not drastically reduced level during this second period of a recessionary market.

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The final group of sellers in line, or the third tier, are those who would like to sell their yachts, but who do not have to do so and who will not accept a large sacrifice to do so. As the tier one and tier two sellers begin to move their boats, this third tier of sellers and boats begin to dominate and prices slowly begin to rise from bargain basement levels.

My advice on “timing” the sailing yachts for sale and power yachts for sale market is to wait for three to six months after the onset of bad times and then begin sorting through the bargain opportunities that will by then exist. Discounts of 30%, 40% and even 50% will be out there during this period. Remember, however, that it is not a bargain if it is not what you really want! You do not want a cheap yacht. You want a yacht of quality that fits your needs, at a bargain price. Make certain that your broker knows the difference.

Contact Ron via ron@luxury-yachtsforsale.com or call (954) 525-7637 to help you sell or buy a luxury yacht.

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Luxury Yachts For Sale
Yacht Broker Ron Rickard
Fort Lauderdale, FL 33316
Tel: 954-629-3714  ·  Ron@Luxury-YachtsforSale.com

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