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Malahide show promises great value

22nd September 2009
Malahide show promises great value
With luxury sales at an all-time low and boats sales particularly badly hit, Irish dealers are fighting back and looking beyond the gloom to what 2010 has to offer. The results in many cases are some remarkable deals that would have been unheard of a few years ago.

Because of an excess of supply, anyone with cash and looking for a boat this autumn is in a particularly good position. Industry spokesman Steve Conlon estimates the value of boat sales have fallen from €100m to €20m in the space of three years.

Dealers are now focussed on cost and eliminating any waste in their operations but also on promoting Irish shows to keep business at home. Used and demo models are cheaper by as much as 30% in some places.

Clearly dealers are not having it easy and many smaller operations have closed. There were 80 Irish dealers in Southampton in 2006, while this year there were eight.

The big firms now left are realistic about the autumn sales they need to make. Serious offers, as they say, are being considered by all the big yards.

An Irish Marine Federation (IMF) Used and Demo Show is being organised at Malahide for October and the value there will have to be seen to be believed.

Approximately 50 yachts and motorboats in the 22 to 50 foot range are being made available. The biggest news is that prices on all of these craft have been substantially reduced in an attempt to reduce stock.

Speaking from the Cannes Boat Show in early September Bernard Gallagher of BJ Marine reported some good news for owners and dealers alike in recent weeks as the bigger sailing boat market recovered.

A Moody 54 was sold recently for £310,000 stg the same boat would likely have fetched £360,000 two years ago. At the French show Gallagher had sealed a deal on a new Beneteau 54 footer for €300,000. A 57 footer from the same manufacturer was sold for €440,000 in 06 dealers would have been asking €520,000.

Bigger drops have been felt elsewhere in the lower end of the market where prices are down by 20%. An Elan 35 motorboat that was on offer for €185,000 in 2006 was sold recently for €129,000. A one year old 40 foot Oceanis bought for €189,000 18 months ago just sold for €139,000.

Published in Marine Trade
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