With boat prices probably being at an all time low we feel that NOW is the best time to buy that dream yacht.  Statistical Surveys Inc. findings for the recreational marine industry show that sales fell 47.6 percent in the 30-foot-and-up segment across all 50 of the United States in 2008.   Hinckley Yachts, Mercury MerCruiser, Viking Yachts, Cummins, Crownline, Cruisers, Hatteras and dozens of other manufacturers have laid off a large part of their workforce in the last few months.  Some have stopped building boats altogether.

Stock boats –
With cancellation of many orders due to the recession affected clients,  there have been  a huge no of fully manufactured ready to use boats that have been lying idle for a long time now which companies are trying to hard sell but with little response.

Bankrupt companies –
Companies like Maxum yachts that have been axed and are non operational are trying to get rid of their existing manufactured yachts through their dealers wordwide. boats of such companies are up for grabs at very attractive prices.

Leading yacht manufacturers like Ferretti have been feeling the heat for some time now, there were reports that they could have even been filing for bankruptcy. Others like Azimut are offering large discounts on the yacht purchases try to entice clients to make quick purchases.

Big boys tumble downwards –
Age old internaioanl companies like Yamaha have reported companywide sales of ¥579.4bn for the first six months of the year ended June 30, 2009, a decline of 33.3 per cent compared to the same period a year ago. The company also reported a net loss of ¥74.7bn compared to net income of ¥25.9bn a year ago.

Boat shows themselves haven’t had a great response. The much awaited Genoa International Boat Show saw a 11% decline in visitor turnout as compared to the one in 2008. Exhibitors in the accessories pavilions reported visitor numbers at their stands down as much as over 50 per cent. Last minute heavy discounts on boats is pretty much expected to cover up for the stall money spent by dealers, boat companies.

All in all if you are looking for a good bargain now is the time. With the global markets seeing a road to recovery and the international economic conditions improving this would be a right time to invest in an asset like a yacht as the demand for yachts will surely increase leading to a price hike.

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