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Sodar
01-15-2007, 09:21 AM
Just found this news article... seems that slumping homes sales, rising interest rates and low consumer confidence is having a bit of an impact on boat sales.

http://today.reuters.com/news/articleinvesting.aspx?type=companyNews&storyid=75355+14-Jan-2007+RTRS

Ric
01-15-2007, 09:34 AM
hmmmmm, remember when bill killed yacht sales with some big luxury tax in 93? Could be mostly what's affecting consumer confidence since fuel prices are now dropping

zberger
01-15-2007, 11:13 AM
i know i heard quite a few deals going on at the Midwest Boat show this weekend.

One dude tells me he sold 2 X-Stars.

Sodar
01-15-2007, 11:22 AM
hmmmmm, remember when bill killed yacht sales with some big luxury tax in 93? Could be mostly what's affecting consumer confidence since fuel prices are now dropping

I remember when this happened, it made my dad do some creative delivery ideas for the buyer of his boat. Recently, a new bill has been issued as well (in 2004 I believe), which has been making yacht sales tougher for brokers... it used to be, when you bought a yacht, you would have 30 days to get it out of the country, in foriegn waters to avoid sales tax. Once the boat was in foriegn waters (i.e. Mexico or the Bahamas) it had to stay there for 90 days to avoid the tax. Now, the 90 day duration has increased to one year. Very few people want to spend a lot of $$$$ on a new boat, to have it sit 100's of miles from home for the first year of ownership. I know that I have been reading about many of the marinas in Mexico that would cater to the 90-day period, which are now seeing the numbers decreasing.

Ric
01-15-2007, 11:56 AM
I just read my own post and it wasnt as clear as I thought it was!

I meant that there may be speculation in the yacht buying crowd about the effects on taxes and the economy, this new, strongly-leftist congress will have. Time will tell

TX.X-30 fan
01-15-2007, 12:21 PM
I just read my own post and it wasnt as clear as I thought it was!

I meant that there may be speculation in the yacht buying crowd about the effects on taxes and the economy, this new, strongly-leftist congress will have. Time will tell


That happens to me often when reading your posts Ric. 8p 8p

Jorski
01-15-2007, 12:35 PM
I wouldnt worry to much about 209/X9 values. Why? Based on the current trends in pricing (remeber there is no inflation currently ) the late model used market should become pretty hot.


Or here is another take:

The housing bubble/refinance game is now over. IMHO, there are a lot of pretenders who used their house as an ATM and got away with it due to low interest rates and and a constantly rising housing market.

FWIW, I expect that there will be a a significant increase in supply in the "late model used market" over the next 12 to 24 months.

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Last edited by Jorski : 08-24-2006 at 01:33 PM.

buffskier
01-16-2007, 10:57 AM
Sorry to be a killjoy, but it was not Bill with the yacht tax, it was GB the first as part of bailing out of 'read my lips...'

Not trying to get political, just trying to be as historically accurate as my 84 S&S, which will probably hold its value regardless...

erkoehler
01-16-2007, 11:02 AM
Just found this news article... seems that slumping homes sales, rising interest rates and low consumer confidence is having a bit of an impact on boat sales.

http://today.reuters.com/news/articleinvesting.aspx?type=companyNews&storyid=75355+14-Jan-2007+RTRS


No complaints out of me :)

Ric
01-16-2007, 11:05 AM
Sorry to be a killjoy, but it was not Bill with the yacht tax, it was GB the first as part of bailing out of 'read my lips...'

Not trying to get political, just trying to be as historically accurate as my 84 S&S, which will probably hold its value regardless... don't make me go look it up! hahaha
that would not surprise me at all really.
The study of the increase of the yacht tax was so good because it was basically a do-gooder tax or robin hood type of thing which backfired and caused many blue collar workers to lose their jobs. Kinda like the minumum wage but that's another hotbutton