Noticeable lack of chatter on new boat purchases this year!

[Tashmoo]

I understand that the economy has fallen flat on its face but this is getting a little scary as there is absolutely zero chatter this year on the site relative to new boat purchases. Last year this time it was reasonably active.

Is this downturn a long term process, two plus years to clean up or a short term aberration of 6 months or so? In my business (project management for construction and manufacturing) we saw this downturn start 16 -18 months ago. While I have been and continue to be very busy much of the new work I am seeing is with corporate contractions not expansions. What’s the read out there?

 

[viperdrum]

I represent companies (legal) Some are going great guns, most are not. Not a day goes by that a client says they have to cut 09 legal expenses by X $$. Large law firms are laying folks off.

I would hate to be in the car or boat business. Before the bank crisis I ordered an 09 Caddy CTS-V. I traded a beautiful BMW M5 and got hammered because the prices of toy cars is in the tank. 08 Vipers are going for 06 prices. Vettes are selling very cheap. Plants are sut down because lots are full.

My local Grady dealer is great and seems to be hanging in. I hope it turn around for them and Grady in general because they do it right.

I also hope all the "experts" who 6 months ago were saying gas would go to $8/gallon are wrong about a long term recession. Although when I hear the incoming annointed one's chief advisor continue spouting that they still intend to raise taxes on the "rich" (people who really ain't rich) I worry.

 

[fishingFINattic]

I was thinking hard about a new boat purchase – specifically the new 30 foot express.

I work as a project engineer for the nuclear and pharmaceutical industries - economy state usually does not compromise implementation of the projects I generally work with -

Not this time - we have seen a both industries significantly decrease work - hence our company has just instilled a 7.5% decrease in salary to all engineers instead of laying someone off - for the first time I am nervous with my resume being polished up -

With the arrival of my first child, the last thing on my mind is a new boat -

Tim

 

[White Horses (Mike)]

You are absolutely correct Tashmoo - we haven't heard much at all from folks excited about their new boat. This time last year (when we bought - and I remember you did too) there were alot of posts related to new boat excitement.

If we had seen this coming would we have bought? not sure, but I do still have the boat and all of the fun that comes with it. I can't say the same for my mutual funds though.... :cry:

 

[sfc2113]

Economy definitly left me with no choice but to get used, Layoffs at work, no bounses and no raises till 20011 we are told. So only way I was getting new boat was to have pt job and if I did that there would be no time to enjoy new boat. Would rather sent my extra time working on a used boat then paying for a new one.

 

[striped bass]

Tashmoo:
As I reported in another thread, my Connecticut Grady White dealership told me that they recently sold a Canyon 336 and an Express 360, but the moderate sizes are dead in the water. I don't know how this translates into the broader economy or boat sales in general. Perhaps, people with big money are unaffected by the downturn.
Personally, my next move was a 275 or a 307. But not now. Too much uncertainty in the economy.
Analysts are reporting are two more economic shocks coming: credit cards defaults the first half of 2009 and car loan defaults the second half. Analysts are predicting a five year cycle: three more years of downturn and two more to dig out.

 

[georgemjr]

Well, I can chime in on the new (to me) boat purchase. I have found that the economic downturn has helped create a buyers market. Because of this I was able to find the Sailfish I had been searching for at a good price and pulled the trigger - couldn't be happier. Unfortunately, I don't think it will be as easy to sell my old grady, an 87 OffShore. I can't wait for the warm weather, it has been pretty bad since my purchase in November.

 

[striped bass]

George:
Congrats on the "new" Grady. Love to hear good news like this of any kind.

 

[VinMan]

I just wanted to chime in with some good news amidst all the bad. I was able to find a "new" Grady 228 in Aug 0f 2008. It was a 2006 that was sold to me brand new from a Grady dealer. It was a leftover that just didn't sell due to the market. I really got a great deal. I would have never been able to buy a 228G brand new if it wasn't for the economic conditions. I feel bad for so many who have it tough right now. I am in law enforcement and with rising crime rates, I have job security (unfortunately). Hopefully its shorter than a 'couple more years.'

 

[striped bass]

George and VinMan:

How about some pics of the new boats! Would love to see them.

 

[Grog]

I wouldn't put a hard timeframe for raises. If things change sooner people will jump ship.

 

[Gman25]

Well, I can chime in on the new (to me) boat purchase. I have found that the economic downturn has helped create a buyers market. Because of this I was able to find the Sailfish I had been searching for at a good price and pulled the trigger - couldn't be happier. Unfortunately, I don't think it will be as easy to sell my old grady, an 87 OffShore. I can't wait for the warm weather, it has been pretty bad since my purchase in November.

Hey George,Welcome to the site. Now lets post some pics of your new beauty.

______________________

2005 300 Marlin w/F250's

 

[BobP]

George Welcome to GG!

The Sailfish is some heck of a boat (I should know- it's my favorite !).
Glad to see you got a good deal.

Makes it that much better!

 

[georgemjr]

Thanks for the well-wishes, I just got back from a ride - lovin it. Gman it looks just like it did when you ran it up from Southern Jersey for me when I bought it! I am not technologically savvy enough to post pictures yet

 

[Gman25]

"georgemjr"]Thanks for the well-wishes, I just got back from a ride - lovin it. Gman it looks just like it did when you ran it up from Southern Jersey for me when I bought it! I am not technologically savvy enough to post pictures yet

No prob,after you take some pics give me a call or stop by.

________________________

2005 300 Marlin w/F250's

 

[jfmagana]

Personally, I've gone cold turkey and just plain stopped buying things. While both my wife and I are currently employed and under no real threat of loosing our jobs, the slow-down in the economy has certainly affected me psychologically. My behavior is now more like something you'd hear your grandparents talk about when they tell you how things were in the great depression (i.e., I'm saving more money, economizing, downsizing, consuming much less, recycling, reusing, etc...).

 

[Tashmoo]

jfmagana

I agree with your assessment. I currently have plenty of work and had been spending freely until about the fall when the boat came out of the water. Now, I feel very uneasy about spending. Both my wife and I are self employed so we are pulling in our spending and building up reserves to double their normal levels in anticipation of a long dry spell for new business. Hopefully, the economy will turn sooner than later and we will find ourselves with some extra cash to invest or have fun with.

For many of us, I think this is the first really significant downturn of our working life. Not to minimize the downturns of the early 1980's and 1990’s as they were both bad bad but this one seems to me to be more like what I remember the recession of the early seventies to have been. Although I was still in high school I remember that one to have been very painful, long in duration and far reaching.

 

[Legend]

Agree with the previous 2 posts. There is a lot of psychological pull back occurring with individuals and business. I tried to buy some Christmas light in December and 3 hardware stores had no lights remaining. I also went to Best Buy and tried to buy a Nikon N40 - none to be had. I assume this is result of businesses pulling back on inventory, it’s like the cycle of doom - one move has a domino effect across the economy. Hope we get out of it soon

 

[TunaT]

economy

I sure hope you are right......all I'm hearing from the economists are we have another wave hitting us in mid to late 09 and going into 1st qtr 2010....they are telling us to that this wave might be larger then the one we had in 08. This one is next wave of those low-interest loans that will double or triple around that time frame. I hope they are wrong and you are right.......things are getting ugly out there for the majority of us and concerns over jobs, homes, boats....are keeping us on edge. Of course if I had the crystal ball I would have moved my money from the market long before the crash.....now my 401K is more like a 2.5K......I sure hope the better boat builders like grady hang in there

 

[LittleMrs]

We've done some reprioritizing around here also. I've done little things to save money here and there - back to clipping coupons, arranging the weeks dinner menu around what is on sale at the grocery store, etc. We're also underbudget on our boating expenses, mostly because offshore trips have been cancelled for non-financial reasons, so that has actually worked out in a way. Its also the reason why there's not much "new boat chatter" from me. I had wanted to do some serious offshore fishing, but that's not working out as planned.

I do have to say that I LOVE the boat. We've overnighted on it just about every trip out. The berth is huge for us. I LOVE fishing until sunset, watching the sun sink into the GOM as the sky turns to gorgeous pinks, turquoise, and purple, then watching a movie on the portable DVD player, going to sleep and then waking to a spectular sunrise as I toss out my line for a morning of fishing.