The economic conditions are simply killing many small businesses in so many industries. One industry that is hitting some stormy seas is the marine sector. Yacht sales are down by over 60% and they are practically giving them away.
Worse, many of the buyers cannot get financing to buy these boats. Many of the buyers previously used second mortgages to finance their luxury sailboats, but we all know that is a huge problem right now in the home loan sector.
The other day down at the local Marina here I noted a beautiful sail boat that was selling for $405,000 only 2-years ago, the owner changed his mind, but now has to sale. Today’s prices $198,000 and that is just one I noted because it is such a pristine vessel.
After shooting the breeze with the yacht brokerage sales guy he indicated the owner was getting desperate and was ready to take offers. Wow, are things really that dire? Yes, it appears so. However, if you can capitalize on something like this then you ought to be looking for a sail boat in your own area.
Is this your year to realize your nautical dreams, visions of sailing off into the sunset and enjoying all that our planet has to offer? Why not go for it now, as you may never get another opportunity like this in your life time. Indeed, if a power yacht suits your fancy, well, there are plenty of deals on those too.