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RL28 Market Price?
I would be interested in comments of others. I am trying to sell Swan, an RL 28. It has been a great boat that has given me the opportunity to become a more confident sailor learning in a very safe and reasonably comfortable boat. Now I am interested in buying something a little bigger that can be used for coastal cruising.

I saw the RL 28 as a safe low risk investment when I purchased 3 ½ years ago as it was by far the best bang for the buck. I paid about $30k for it. Actually $35k with a trailer but I sold that as Swan was to be permanently on the water. I am/was trying to get around the same $30k back after upgrading a few things. But as there are about 8 RL 28s for sale on this site with no sign of movement I think this needs a rethink.

I noticed a couple are heading down to low $20k or even under. My gut feel says that what was a $30k to $35k boat about 3 to 5 years ago is now more like $20k..well hopefully 20k to 25K. A drop of around 30% to 40%.
I note that the price of new production boats has dropped by at least 30% over the same time and I expect if you really talked seriously you could get a better deal. This is due to lack of buyers around the world post GFC and the higher Aussie dollar helping us out.
I was at a boat club function on Saturday at Peel Is. where an old salt who has been around for a long time said, “you will have to take a bath on the price because prices are down and they will not come back up”. I thought about that and it makes sense. The US and Europe, the biggest markets for production yachts, will be in the doldrums for years to come. The production boat manufacturers have cut back production and have had to become more competitive and the Aussie is high whilst China wants our iron ore. Where is the end to this? I don’t see it anytime soon.

So, I am interested in hearing from sellers, buyers and anyone interested? What is the current market value of RL28s in general and do you think the market will ever recover.

And, in the meantime the weather has improved here, could be a great summer and we are still enjoying using Swan and that is what it is all about.

Russell Rogers20-Nov-2011    Edit    Delete 
Re: RL28 Market Price?
Russell.
Take a look at the share price index, and the housing market figures of four years ago, you will see the parallel trend to the second hand boat market, and I would remind you that during the difficult years of the early ninties second hand ex charter boats had a market value of only $25,000, and I seem to remember that "Swan" was among them.

In 1984 the origonal cost of a complete RL28 built in survey was around $35,000 and after seven years of use, and in a depressed market selling for $25,000, then who would have expected that 18 years later they were changing hands for 5 to $7,000 more than that. You were unfortunate to have purchased "Swan" at the peak of a boom period, and I can only guess that the current perceived value would be around $ 19,000, but I would expect that to increase again when the current worlds problems resolve them selves.

Quality boats cannot be built for less than current prices, and while the market may stagnate for a time, one day it will return.
The lesson to be learnt here is that you buy a boat for the pleasure that you get from it, and that pleasure should not be lessened by the fluctuations of the economy, so hold on to your boat for a few more years and enjoy the free use of it.

The good times have always returned, and in the mean time there is no better way to enjoy yourself than to go sailing.
Rob Legg.21-Nov-2011    Edit    Delete 
Re: RL28 Market Price?
Interesting and informative as always Rob, Thanks. Looks like we have been here before, although my suggestion is that it may be more extended than anything in recent memory.
Actually, I am not feeling bad about it. If I sell Swan I will hopefully buy in the same market. Simply interested in other's views (particularly potential buyers) as no one seems to be able to move their boat. These are great boats and at what is probably the current (maybe temporary) market price, they are fantastic value. Not sure what else is out there with the same size and features at anything like these prices.
Russell Rogers23-Nov-2011    Edit    Delete 

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