Hello, there is an interesting phenomenon occurring on the west coast at the moment .
For the first time since back in the eighties when Norm Wilhelm’s Precision Marine was flooding the market with luxury boats from his North Fremantle factory, motor yacht exports to the east coast are once again thriving!
In fact the Fin Review recently reported ‘Demand for 80ft-to-100ft luxury boats costing between $1.5 million to $3 million in particular has picked up over the past few months’….read more
In recent months, at least half a dozen WA based motor yachts have either sold or are under offer and expected to be freighted to NSW or QLD to their respective new owners.
Since I have been in boat sales, local (WA) buyers have often researched the possibility of buying in the east where the choice has always been greater and the prices a little lower.
Well, the tables have turned. As the WA economy slows there are not the buyers there used to be here. NSW is going through a bit of a boom as you will see by property prices, subsequently boaties from the far side of the country have realised that there is a pool of vessels floating about the west at record low prices! In many cases, immaculate late model boats with very low hours on the market for less than half their original purchase price.
Even after adding back the return freight factor, the astute east coast buyers realise they are still in front. Meanwhile, local customers are a bit slow off the mark.
So what’s the moral of the story?
I think we have finally hit the bottom of the market in luxury boat values. If you see a boat you love, don’t hesitate or you may miss out!
This time the grass is definitely not greener on the other side…of the country.
The Marriage saver
Occasionally a unique, innovative product comes along to make boating easier. Check this out, the Hook & Moor. A fantastic gift for the boatie who already has everything. Makes tethering a boat to cleats or moorings easier, even for a novice.
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Until next week – relax…take the boat
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