Is The Next Classic Boat Market China?
Well, no visitors from China on WoodyBoater, and for some reason I doubt that any one there will be in the market for a Chris Craft.. yet. But with a booming economy and lots of debt from the US being paid back to China, it does not take a leap to see ole Sylvia pictured here in China in a year or two. We are now watching on eBay, boats selling for at least 30% less than they were a year ago. We are tracking some ebayers that are pulling a Warren Buffet. Buying low and sitting on them. Stay tuned on some amazing deals out there now. For example, the Chris Craft Kit boat featured here just sold for $5700. That is mind blowing, and for those of you buying. Good News. I have said over and over again. eBay is about as close as you can get to reading the market on a hobby. And right now despite what the restorers and dealers say. The price is down, way down. And its a buyers market. Ugh, I wish I had some mula.
Antique boats shouldn’t behave any differently than any other asset in these economic times. Arguably they could/should be worse because nobody really NEEDS one, like they need a vehicle or a house. Cash is king these days. I agree – buyers market emerging, probably for a while. If you don’t have to sell, hold on, but if you do have to move a boat – be realistic. You can always buy another one in better times.
A buddy came back from the car auction in Vegas the other day, and said the mid-tier suff was still stong but the high end was severly down from prior years. He said his 8 or so mid-tier cars have been among his best recent investments. Probably the same holds true in our hobby, with the very expensive stuff not moving. I haven’t been around long enough to know if prices had escalated in recent years, as they did in the car hobby.
You spelled “Sylvia” wrong on the transom. I think that says “Carl”.