Sailing is an amazing sport and owning a sailboat is a dream for many aspiring sailors. The different kinds of sailboats available to choose from can make it difficult to pick up the one that suits you the most. The cost of the boat is always a vital factor when going for your pick. This begs the question- why are many sailboats so cheap? We will be tackling this question for both, new and used boats.
New Boats For Sale
When it comes to buying a new boat, there are several factors that affect the price. The age of the sailboat, the time of the year when you plan to make the purchase, and the location of the place where the boat is going to be purchased from; all of these play a key role when it comes to deciding the price.
As a potential buyer, you should have an idea about all of these aspects before you go out and purchase the sailboat of your dreams.
The Location
The location is a very important factor when it comes to determining the price of a boat. Many parts of the world have different costs where sailboats are concerned. Particularly in Europe, the price of a boat drops heavily. This happens all the more in Turkey, Greece, and Croatia making it much cheaper to purchase from this part of the globe. This is why most aspiring sailors choose to buy a boat from these locations.
One reason for these low prices is due to the constant need to update the fleets. In return, the yacht and boat charter industry in those regions churns out more boats. The need to empty their inventory, so that they can produce new ones, is the reason that the companies are forced to sell the boats at a terribly reduced price. This concept applies to all parts of the world, including the states. All the places where there is a surplus of boats, therefore, can offer you reduced boat prices.
Age Of The Sailboat
This one is self-explanatory. Machines need to work on a constant basis, in order to remain fully functioning at 100 % efficiency. A boat, at the end, is a machine. A new boat that has just come out of production is going to be heavier on your wallet. The same isn’t true for a boat that has been residing in storage for quite some time. If you are going to buy a boat which you are going to use for shorter frequencies in a year, then you could go with these boats. They will definitely be cheaper.
Few other reasons new sailboats are cheaper are-
- A boat is a project- This is something that every sailor knows. Even if you are buying a brand-new boat, you will need to put in some work. Every boatyard that is selling you the boat, knows it too.
- Similar kinds of used sailboats available reduce the price- When you have a used sailboat, which can be updated to your comfort, and it is available at a cheaper price, you would go for it. That’s the reason that the sellers are forced to sell the boats at reduced prices.
- Small boats depreciate in value- We will be discussing this in detail soon. Here’s a basic point to keep in mind, a small boat is only bought by people who are trying not to break the bank. They would be using their boat as a means to fulfil their hobby of sailing, not becoming a proper sailor, or pursuing sailing as a sport.
- Maintaining it is a full-time job- There are many aspiring sailors who buy a boat on an impulse and then regret their decision. The cost of keeping a boat in the docks is also too much for many. Such sellers are fine with selling their boats at a lower price, even if it means they are taking a loss.
Sailors around the world all agree that keeping a boat is a costly hobby to maintain. That is one of the biggest reasons that the cost of sailboats is reduced, and cheaper sailboats are available nowadays. It all works out well in the end. Individuals with a zeal for sailing can afford a boat to pursue their hobby of sailing.
Stored Boats Cost Money
This is a key point that you should keep in mind when talking about the price of a boat. A boat needs maintenance year-round. Even when you are not using it, especially then. If you are not using your boat on a regular basis, the boat depreciates in value. It also doesn’t bode well for your wallet, when the cost of docking your boat takes out a regular chunk of money.
If you do not use your boat regularly, it runs behind in maintenance. This is another reason that impulse buyers regret their decisions when it comes to keeping a boat for longer periods of time. It is also a reason that such boat owners tend to sell their boats at cheaper prices. They are not able to keep up with the costs of maintaining a boat for long durations. This makes them look for buyers very soon. Since the longer they wait, the harder it becomes to get a good deal, they sell the boat when they are able to get a reasonable price.
A Buyers’ Market
More than a thousand sailboats are sold every year. This means they are produced at high rates too. In the third quarter of 2018, 1,313 sailboats were sold in the USA. The manufacturers who produce small boats and mass produce boats for beginners are able to push more than a hundred new boats every year. There are many different kinds of boats and new models available every day of the year. With so much to offer and little demand as compared to production, the market becomes a buyer’s market.
This should also help you in understanding that not all cheap boats are a bad deal. There are many amazing boats that are a steal at the prices that you are made to pay for them. You can always get good deals at cheap prices if you look around.
People Need The Money
Let’s be honest- boats are a luxury product. The people who buy the boats, are able to do so, when they are financially ahead in life. They are a high maintenance product that eats money pretty fast. So, it is but natural that when any financial disaster strikes, the boat is one of the first thing to go. It just doesn’t make sense to keep maintaining a boat when you are not in the right place, financially speaking.
This makes people sell their boats when they are in need of money. They are ready to part ways with the vessel, even if they have to sell it for a price they are not really happy with. This in turn, can help potential buyers in getting a good deal. If you have a good eye when it comes to boats, you will be able to get the right boat that will suit your needs and help you enjoy sailing, all along the year.
These are some of the many reasons as to why sailboats are available at cheap prices. It is a great idea to look around for many different options before going in for the final deal. It is a good idea to have a wide variety of options when going to buy a vessel to take to the sea. It is vital that you choose the one that isn’t a big load on your wallet and still allows you the joy of sailing.
So, whenever you are ready to buy a boat, you should always keep these things in mind. A good boat need not always be expensive. You can enjoy the luxury of owing a great boat at a cheap price, if only you look around with a keen eye. It is a nice feeling to enjoy sailing, without losing a large chunk of your hard-earned money!