Decline in markets or are we moving to a growth?

Discussion in 'All Things Boats & Boating' started by chowdan, Jan 15, 2015.

  1. chowdan
    Joined: Jul 2008
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    Location: Seattle WA

    chowdan 1980 PAC41 Liveaboard

    Hey everyone,

    I've thought abotu many things recently ranging from getting a cheap boat and just cruising around the world on a bare minimum budget. I've also thought about getting into resale, customizing boats, and a few other things.

    Its all thought and not actually going to happen(yet).

    Out of curiosity, what is the boating industry like? Are we seeing a continued decline in interest in the market? Are we seeing growth in boating industry now that 2008 is past? Is it at a standstill?

    Is the market over saturated with cheap boats?

    What is your opinion on the future of the middle class boating industry?
     
  2. RHough
    Joined: Nov 2005
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    RHough Retro Dude

    There are too many people cruising around the world on a bare minimum budget to make the middle class marine market profitable.

    The way to make a small fortune with boats is to start with a big fortune. :)
     
  3. chowdan
    Joined: Jul 2008
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    Location: Seattle WA

    chowdan 1980 PAC41 Liveaboard


    Thanks for the reply:) I completely understand that. I was more curious about the average market in general. New boats will always continue to be built, but with such cheap ones on the market, you'd think we'd eventually see an over saturation and expensive companies close up shop.

    I guess it really seems the boating market is moving towards lower cost boats that are geared towards towable units these days rather than requiring mooring and such
     
  4. Poida
    Joined: Apr 2006
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    Poida Senior Member

    Good question.

    To, and I'm normally wrong, old boats were built to last.
    When I look at some of the new plastic wonders at the boat ramp they don't look like they would last.

    With boats that don't last long, it makes a market for people wanting a continual supply of new boats.

    Poida
     
  5. michael pierzga
    Joined: Dec 2008
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    Location: spain

    michael pierzga Senior Member

    If I gave you a boat for free....you will go bankrupt operating it.

    As far as refitting old boats for resale. Difficult.

    Special boats can be refit. These special boats operate in the bareboat charter market. When a bareboat gets blown ashore the insurance company condemns it, then sells it for scrap. Many of these boats can be refit and returned to service by a skilled team then sold back into small secondary bareboat charter sector for a modest Profit. 50 percent of the small plastic sailing bareboats in my local fleet are former insurance company shipwrecks brought back to life.

    Dont mess with motorboats. The machinery will bankrupt you. Only simple plastic bareboats with hull, water , damage and simple machinery the you can rebuild in house.
     
  6. chowdan
    Joined: Jul 2008
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    Location: Seattle WA

    chowdan 1980 PAC41 Liveaboard

    Thanks for all the replies.

    I dont have the space, nor time currently to even get into rebuilding vessels so that is out of the question for now.

    I'm just asking questions as its more curiosity in where the industry is headed rather than getting into the business side of things. Maybe in 10 years ill actually pursue jobs, but for now, its all curiosity.

    I do feel though that the general public's interest in boats is fading, or rather, changing towards towable cheap, low cost boats.

    I think the biggest thing is people can't afford things like mooring fees due to economy crashing.

    The ticket to wealth would be figuring out how to build a vessel at a bare minimum cost, yet the vessel has the appearance of beautiful million dollar yacht.
     

  7. michael pierzga
    Joined: Dec 2008
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    Location: spain

    michael pierzga Senior Member

    Demographics is hollowing out the industry. The baby Boom generation are selling, but there are no new baby boomers to buy.

    Good time to buy because prices are low. Drive a hard bargain if you see something you like.


    as far as cheap liveaboard sailing ...hmm. Ive lived on a boat for almost 40 years. It aint cheap. i pay about thirty percent more for everything.
     
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