AWESOME TIMING! By Jim Snair I heard one of my clients recently say, “You know, I’ve never built a new boat…” It was a statement that resonated with me. He is a successful businessman, has a great waterfront home and a family full of adventure. We’ve done several “projects” together over the last dozen years – all involving a pre-owned boat that he gives a thorough renovation. And so I said “Maybe you should.” It would be those words that echoed in my head the past few days. Thanks to middle age, I became an overnight guest at a local hospital and am now in post surgerical recovery. While in the hospital I gained another perspective on life - all the patients were there because of some ailment or injury. Many were in pain. My night on the floor was sleepless. The human condition very sad. It struck me that many of us will end our days in pain. And I thought about my luck over the past ten years. I have had all kinds of successes and a few failures. I’ve sailed and traveled all over the east coast of North America. I’ve built new boats in 2002, ’03, ‘04, ‘05, ‘07 and ‘08. I have had lots of nervous anxiety when my new boat was shipping from its factory and ultimately arriving here. And lots of smiles. It’s a purchase worth doing – and now, thanks to a strong Cdn dollar; it’s affordable. I know people think there is heavy depreciation on new boats. That’s not quite true. High volume boats suffer at resale; Bayliners and Beneteaus are available in huge numbers used so it’s difficult for them to hold value. I usually avoid high volume boats. I think back to the purchase of my J105 in 2002. It cost an astounding US$140,000. Seven seasons later, with the additional of three new sails, these 2002 boats still command a strong US$125,000. Not a bad investment in a recreational vehicle, an adventure platform that has provided seven summers of family memories. In the same period, some families would have endured in excess of $100,000 of depreciation on their cars. With the Canadian and US Dollars at almost par, the value is outstanding. After all, we look at products that are south of the border as being “cheap” when our dollar approaches par. We even plan road trips for shopping excursions. I also know that many of us are invested in the stock market and while portfolios may have rallied, they may not be back to pre July 2008 levels just yet. I’m reminded of owning a boat over this same
time period where portfolios shrunk by 40 or 50%. That boat was the same length and the same value for memory creation to the family throughout the economic cycle. I also know that if you have a sizeable portfolio you can sell enough to buy your dreamboat, and then borrow that amount back to reinvest in the market. The loan interest is tax deductible. So, in effect, your new boat’s interest cost is ½ on a monthly basis as what it would be if you simply borrowed the funds. Thinking about borrowing – rates are still super low. Mortgages in the 3% range are available and yes, new boats can qualify for mortgages (if you don’t want to use the stock buy plan). Using your current boat as a downpayment, a new boat can be quite affordable. Builders are starting to regain some traction; sales results from fall shows are finding their way to the production floors; in short order there won’t be anything available to buy until 2011! We expect prices to be reasonable for a period, but there will be price increases as all businesses try and recover operating losses of over the past year. So – it’s AWESOME TIMING to think about and order a new boat for next season. 1.Your own boat is a substantial deposit or trade; 2. Builders still have some availability for 2010; 3. Cdn – US exchange at or near par; 4. Low interest rates; 5. Great memories. We’ve ordered a couple new boats for clients already for next season – maybe you’d like to have one for your family?
New Listings: 1985 Baba 35 Auxiliary Cutter- US$85,900
Click on the link below for more details: http://www.sunnybrookyachts.com/core/listing/pl_boat_detail.jsp?&units=Feet&id=2136314&lang=en&slim=broker&&h osturl=syb&&ywo=syb&
1976 CS 27- $18,900
Click on the link below for more details: http://www.sunnybrookyachts.com/core/listing/pl_boat_detail.jsp?&units=Feet&id=2136972&lang=en&slim=broker&&h osturl=syb&&ywo=syb&
Recent Price Reductions: 2008 Back Cove 33; Was US$289,000....Now US$269,000
Click on the link below for more details: http://www.sunnybrookyachts.com/core/listing/pl_boat_detail.jsp?&units=Feet&id=2019002&lang=en&slim=broker&&h osturl=syb&&ywo=syb&
Recently Sold Boats: 1982 Hughes Columbia 38
FEATURED BROKERAGE BOAT OF THE WEEK: 1991 Sabre 425- US $189,000
Quest is a shining, ready to show your spouse example of a Sabre 425. She spent the majority of her life sailing the Great Lakes and wintering in ashore in heated storage. Her decks show her youthful condition. Her current owners have upgraded this 425 w/fresh awlgrip, canvas, varnish, furnace and more. Sabre 425's feature a large owners cabin forward w/vanity. Her main cabin is spacious and has a foldaway dining table that comfortably allows six sailors to enjoy the cook's offerings. Aft to starboard is a nav station and full sized head. To port is the L shaped galley and access to the aft double cabin. If we built Quest today at the Sabre factory in Maine, her replacement would exceed $600,000. She is offered in sailaway condition. Quest is the best kept 425 available on the market today. Contact us for a personal inspection.
For more information please click on the link below: http://www.sunnybrookyachts.com/core/listing/pl_boat_full_detail.jsp?slim=broker&boat_id=2032863&ybw=&hosturl=s yb&&units=Feet&access=Public&listing_id=1408&url=&hosturl=syb&
STOCK Hunter 33 Two private cabins, large head, cockpit shower, bimini & dodger, full electronics, furling main & jib. Under 50hrs use. Replacement exceeds $170,000 - inventory clearance pricd at $119,000....launching included.
"Sapphire" That's what we're naming this months "Featured New Boat", the new 2010 Back Cove 30. Designed to please a cruising couple with a cockpit designed for entertaining family and friends with transom door and swim platform. Smart, functional cherry interior with day galley plus full sized head with shower. Room for dining and sleeping below. Reliable, fuel efficient Yanmar inboard plus bow thruster for easy handling. Introductory base priced at US$198,500 fob factory for the first ten hulls only.Contact Jim Snair at Sunnybrook Yachts for a personalized quote.
Please check out our website at www.sunnybrookyachts.com for the latest specials and offerings!
New Stock on Hand or On Order Include: Back Cove 29 - IN STOCK
C&C 99-94 - IN STOCK
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J Boat J/111 - ON ORDER
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Hunter 33 – IN STOCK
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Questions? Ask and we will do our best to respond within 24 hours! syb@eastlink.ca Regards, Jim Snair, John Suederick, Bob Harrity, Ernest Hamilton, Sherman Haynes & Marcie Young www.sunnybrookyachts.com Chester, NS v 902 275-2424 f 902-275-2444