November 13, 2006
A Perspective on Boat Buying.
The signs are all around us, leaves falling, temperatures dropping, boat specials and the gales of November. "Boat Specials" you say? Yes, BOAT SPECIALS! While a few would say that it is counterintuitive at a time of year when there is more plastic shrink-wrap on boats than bimini canvas, Smart sailors know that the Fall is the best time of year to buy a boat. "Sure"... you say (considering the source), but the truth is that it is.
If you think about it, during this time of year the selections of yachts (both new and used) are at their peak. In the new boat market, it is great to find a home for any boats that are still on the dealer’s inventory. Dealers- (such as Karma Yacht Sales, LLC) offer additional savings on remaining inventory. What often happens is that come late January, many buyers come to the boat show expecting to place an order and have their boat delivered in time for the start of the season. With a brand that is in high-demand, such as Beneteau, this is not always possible. The fall boat shows (Newport, Annapolis, and Miami) produced many new buyers who have placed their orders with the manufacturers, and boat availability gets pushed out further as a result. For example, factory orders for most models are already in the March delivery time frame.
At Karma Yacht Sales, we look to make our stock orders in the fall in order to have product available for mid to late spring arrivals. However, as demand increases, availability begins to function on a first-reserved-first received basis. An added benefit of buying now is that orders placed in the fall get top priority in the spring for commissioning and are able to enjoy one of the best parts of the sailing season in Chicago- early spring!
In the brokerage market, a similar situation exists. Owners who are considering selling their used boat are listing now. Winter Storage has been paid on the boats and many owners may be eager to sell. The selection of brokerage boats is very good during the fall for this market also. In general, many owners would be happy to sell their boats and look forward to their new ventures for the spring. Inventory depletes in late winter and once the first nice day comes along- the demand increases making availability a premium.
"Does this mean it is a buyer’s market?" Not quite, but this translates into a win-win for those interested in purchasing a boat for the upcoming season. Optimal selection, buyer incentives and an entire winter to plan and outfit your boat are key advantages of fall purchases. Many of our current owners found this out by purchasing during these months, and enjoyed a more relaxed winter - and a longer sailing season - as a result. Visit our boat specials to find out about the incentives in place for the early bird shoppers.
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