One of my favorite sites is Yachtworld.com — its a giant relational database, where you can punch in any combination of characteristics and find the exact boat you want.
Want a Formula, years 2002-06, between 32-36 feet, on the East Coast, between $100-200k? There are 16 boats that meet those exact characteristics.
Given the recession and the credit situation, this summer, I have been perusing boat Repos — Bank financed machines that have been defaulted and are now the floating equivalent of REOs.
On Yachtworld.com, there are some 436 repos available in all sizes and shapes — 127 New, 309 used. Event he used boats tend to be newer (older boats don’t need much in the way of financing). 10 of these repo boats are more than $500k, including one repo that is $7.7 million dollars.
Something more modest, perhaps? How about:
Length: 22′-29′
Year: 2002-2006
Price: USD $0-50,000
That gets you 29 choices.
As I have noted many times in the past, I am a big believe in being a counter-cyclical spender. I try not to buy stuff when the economy is on fire and everything is overpriced. I don’t believe in using excess credit (Like these folks that ended up having their boats repo-ed)
This year, I have been selectively shopping for , and occasionally buying, whatever I thought was priced right — especially distressed merchandise.
28′ Rinker Captive 276 BR **BRAND NEW REPO**
What's been said:
Discussions found on the web: