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Hanse pre-owned price drop vs new

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mglonnro View Drop Down
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    Posted: 05 July 2018 at 10:33
Cheers,

Has anyone tried to study what the average price drops might be for Hanses in the second hand market? I realise the sailboat market isn't very large, and it might be hard to come by reliable and comparable information, but it would be nice to have some rough idea about what to expect. 

Anyone? :)


Edited by mglonnro - 05 July 2018 at 10:43
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mglonnro View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mglonnro Quote  Post ReplyReply Direct Link To This Post Posted: 05 July 2018 at 10:52
Found this on YBW from 2011: 

Quote
Assuming that new boat prices stayed completely steady with no variations for exchange rates and inflation a boat will very roughly depreciate as follows:

Year 1 20% (maybe just over)
Year 2 another 5% to 10%
Year 3 another 5% to 7%
And then about 5% year on year.

http://www.ybw.com/forums/showthread.php?282154-Boat-depreciation-value&p=3066152#post3066152
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samuel View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote samuel Quote  Post ReplyReply Direct Link To This Post Posted: 05 July 2018 at 11:13
Which kind of supports the view that with some AWB's, after 25 years owners will be virtually paying people to take them away.Shocked
Daydream Believer- Hanse 311- No GBR9917T- Bradwell Essex
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gshannon View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote gshannon Quote  Post ReplyReply Direct Link To This Post Posted: 05 July 2018 at 17:33
Once a boat is 25 years old or more, condition and maintenance become more important than age. Depending on usage hours, it is likely that the engine is in need of replacement, sails are at the end of life, and things like electronics and deck hardware need upgrading.

There are plenty of old boats at cheap prices, but many need too much work to be worth buying. Another factor is an older boat, by the third or fourth owner may be in the hands of one who cannot afford to maintain it properly.

One of the cheapest used cars, after 10 or 15 years, is an S-Class Mercedes. People who can afford to run one tend to want a new one. And if you are buying a car on a shoestring an economy car makes more sense. Running costs increase with age so keeping and old car or boat like new requires substantial expenditures.

My Hanse 371 is now 17 years old, and in very good condition. But plenty of money has been spent along the way.  You can keep a boat in near new condition almost forever.
Grahame

Tangleberry 371-092

aviadesign.com
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Monday View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Monday Quote  Post ReplyReply Direct Link To This Post Posted: 05 July 2018 at 18:14
Originally posted by mglonnro mglonnro wrote:

Found this on YBW from 2011: 

Quote
Assuming that new boat prices stayed completely steady with no variations for exchange rates and inflation a boat will very roughly depreciate as follows:

Year 1 20% (maybe just over)
Year 2 another 5% to 10%
Year 3 another 5% to 7%
And then about 5% year on year.

http://www.ybw.com/forums/showthread.php?282154-Boat-depreciation-value&p=3066152#post3066152

One assumes the 1st year 20% is based on value against list rather than what the owner actually paid?
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S&J View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote S&J Quote  Post ReplyReply Direct Link To This Post Posted: 05 July 2018 at 18:16
My previous AWB purchased for 43k at 5 years old was sold for 26k after 15 years ownership, i.e. 20 years old. Once I got the price right I received multiple offers. It needed new rigging and sails plus porthole water leaks resolved but was otherwise in immaculate condition inside and out.
For UK buyers, the currency fluctuations over the last few years may mean that a boat purchased in Euros four years ago may actually be worth the same today. I regularly see second hand 385s at prices well above what I paid new, although I appreciate thag there is likely a difference between asking and achieved prices.
H385 #351 Ningaloo UK south coast (2018)
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mglonnro View Drop Down
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Post Options Post Options   Thanks (2) Thanks(2)   Quote mglonnro Quote  Post ReplyReply Direct Link To This Post Posted: 05 July 2018 at 19:52
Quote One assumes the 1st year 20% is based on value against list rather than what the owner actually paid?

Don't know but if those figures where based on statistics I guess buying a 0-1 year old 2nd hand boat might have some special dynamics attached to it. Maybe boats that people have ordered (and paid 30% down) and have to sell almost immediately after or even before actually taking ownership of them? 

I did a short check on Yachtworld.com comparing asking prices for Hanse 575s (2014-2017) to similarly equipped new ones (with 100% "early bird" and trying to roughly match the options), and here's what I got: 

- one year old (one boat 2017), asking about 6% lower than estimated new
- two years old (one boat 2016), asking about 5% year on year lower (about 8-9% lower than new)
- three years old (two boats 2015), asking about 5% year on year lower (about 14-15% lower than new)
- four years old (one boat 2014), asking about 5% year on year lower (about 18% lower than new)

Secondly, if the actual selling price is 10% less than asking then: 

- one year old, 15% drop
- two years old, about 9% depreciation per year (17% less than new)
- three years old, about 8% depreciation per year (22% less than new)
- four years old, about 7% depreciation per year(25% less than new)

So, some thoughts about this: 

- my estimation of comparable new prices are just rough estimates, and it affects everything, so this is not much more than guesswork
- asking price based on 5% yearly depreciation looks common :)
- if buying a new boat, don't sell it as almost new!
- a slightly used boat (2-3 years) might sell for 10-20% less than the original price, which isn't too bad, I guess, considering that they are, after all, sailingboats :)


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