The New Normal

We just finished up the 2010 season and boy what a difference from 2-3 years ago. True boat buyers and current owners seem to have adjusted to THE NEW NORMAL. The new normal as I’m referring to has replaced the euphoria of the early to mid 2000’s in our economy that is gone and likely not to be seen for many, many years. Cheap money and the ability to count on your investments and real estate continuing to climb without adjustment are over and from our perspective people are finally starting to adjust to a new normal. What that means for people selling what we sell is that buyers are coming back because they truly love the boating lifestyle, have found of feel stability in their career or place in life and feel confident enough that prices are great as more owners have made a similar adjustment.

When you contrast this year speaking to customers to what the mentality was 1-2 years ago there is a shift in mindset clearly taking place. Gone are the long faces, head shaking, general malaise and fear of pulling out your wallet as confidence and assets seemed to have no bottom. Both buyers and sellers have for a great part woken up to the fact that if you reset your expectations, go back to a more means based approach that you still can appreciate luxury and enjoyment from things like boats and vacations. Attitudes are just so much better overall and we are left with a growing contingent of people not in an state of denial but awoken to reality that things in life has to be chosen wisely, paid for, and you had better have the means to back up that decision.

This is not a rant that we are out of the woods and boats are selling like hot cakes but if you do we do 7 days a week there is a pulse coming back to the market that while faint is growing ever so slightly. This boat show and I expect others in the future are a great sign of positivity. People used to walk into our booth with comments of “No way I’m not buying anything” “I have a boat and its worth $ blah blah blah”, “no thanks I’m just looking” “I’ll wait another year as I may not have a job”, “these boats are all going to be worth ½ next year”. The comments we hear now are “I want to sell my boat and tell me where we need to be as I know it’s less than what I owe” and “boy the prices are great and we are looking to buy a …..” “we have been watching and are looking for…”. A TOTAL SHIFT FROM 1-2 YEARS AGO.

Are there more buyers than in the euphoric days? NO. Are those days coming back? NO. IT’S A NEW NORMAL and once you find it and see it for what it is trust me it’s better place than where we were 1-2 years ago.

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