As The Prop Turns May 2024
In 2024 the stock market has hit all time highs on various index’s, which will leave me to believe that extra portfolio balances relate to boat buying money or is hard to take the funds that pays you 5.3% on short term CD’s and buy a boat.
We just finished the Palm Beach Boat Show 45 days ago and the consensus is that the market was not hot, maybe this could be a hangover from COVID boat buying times. It appears the larger boat market is still active but as you get down under 75 feet the market is slowing a bit, the smaller the boat the softer the market.
Many of the smaller manufactures that built center consoles and were getting a lot of money for them seem to be now filling up the vacant boat lots, it was so amazing during 2021 and 2022 that boat dealers were believed to be out of business because they had no boats on the lots. Now, price reduction notices are very common, but we feel that is because the sellers are just starting to adjust to lower more realistic prices in lieu of the higher prices of recent years, another words “over inflated”.
In speaking with my real estate friends in South Florida they say that the amount of sales have decreased but values have not dropped mostly because of the momentum in South Florida.
As the prop turns.
March 2023
We are happy to say the Miami Boat Show which we have worked for the past 30 something years is over and now preparing for the Palm Beach Boat Show which has become the industries more desirable show. It has been reported that the Miami Boat Show was a great success which means there is a lot of runway for this soft landing in the economy.
We think "Transitory" a word I was unaware of 20 months ago has developed a new meaning. We have noticed the high end communities that the sales of real estate transactions which was very exuberant in 2021, the market in 2022 had half the sales which is normal but the prices were still up in a new value.
We have sold 6-8 yachts in the past 3 years that sold for much higher prices then the paid for the yachts 4-6 years prior. The real question and answer is that the replacement values have dramatically increased due to cost of goods and regulations of people and facilities. This has happened through the years as exhibited with the sales of high quality yachts like Hatteras, Bertram, Westport, Viking and similar.
The real story is that high quality yachts intrinsic value will always glisten through the years.
As The Prop Turns May 2024
In 2024 the stock market has hit all time highs on various index’s, which will leave me to believe that extra portfolio balances relate to boat buying money or is hard to take the funds that pays you 5.3% on short term CD’s and buy a boat.
We just finished the Palm Beach Boat Show 45 days ago and the consensus is that the market was not hot, maybe this could be a hangover from COVID boat buying times. It appears the larger boat market is still active but as you get down under 75 feet the market is slowing a bit, the smaller the boat the softer the market.
Many of the smaller manufactures that built center consoles and were getting a lot of money for them seem to be now filling up the vacant boat lots, it was so amazing during 2021 and 2022 that boat dealers were believed to be out of business because they had no boats on the lots. Now, price reduction notices are very common, but we feel that is because the sellers are just starting to adjust to lower more realistic prices in lieu of the higher prices of recent years, another words “over inflated”.
In speaking with my real estate friends in South Florida they say that the amount of sales have decreased but values have not dropped mostly because of the momentum in South Florida.
As the prop turns.
March 2023
We are happy to say the Miami Boat Show which we have worked for the past 30 something years is over and now preparing for the Palm Beach Boat Show which has become the industries more desirable show. It has been reported that the Miami Boat Show was a great success which means there is a lot of runway for this soft landing in the economy.
We think "Transitory" a word I was unaware of 20 months ago has developed a new meaning. We have noticed the high end communities that the sales of real estate transactions which was very exuberant in 2021, the market in 2022 had half the sales which is normal but the prices were still up in a new value.
We have sold 6-8 yachts in the past 3 years that sold for much higher prices then the paid for the yachts 4-6 years prior. The real question and answer is that the replacement values have dramatically increased due to cost of goods and regulations of people and facilities. This has happened through the years as exhibited with the sales of high quality yachts like Hatteras, Bertram, Westport, Viking and similar.
The real story is that high quality yachts intrinsic value will always glisten through the years.