Wednesday, August 12, 2009


We watch like it's TV. Sometimes we even "watch" it together. We take note of each Island Packet that comes on the market, every time one goes under contract or a price drops.

This past year while our house was losing value, boat prices were careening down even faster. Our theory was to lower the price on the house to sell quickly and make up the difference when we bought a boat at a rock bottom price.

In the last few weeks, we're seeing signs that boat prices might have -- maybe -- hit bottom. Many of the boats we've been watching are now either sold or under contract.

What do we do? Wait to see if this really is the bottom? Get a credit line and buy now? Sell off all the wine and beer inventory and hit the water? (Don't think we haven't thought about it.)

Of course, if we go ahead and buy an Island Packet, that will put us in the weirdest situation yet: living in a college apartment and owning TWO large sailboats. That just seems so wrong.

So now we ponder the idea of putting Isabella with a broker and maybe taking her down to Oriental in hopes that she'll sell faster.

1. She would appear on and therefore reach a bigger audience.
2. She would be in a boatyard, so we wouldn't have to worry so much about her.
3. Oriental is a sailing community, unlike here, and centrally located for showings.
4. The broker would handle showings and contracts, sea trials, etc.

1. She would be in a boatyard, which costs money.
2. The season is waning, so it might be next spring before she sells, thus more $$$.
3. Selling through a broker would cost us 10%.
4. These are all about $$$, aren't they?

Shouldn't waiting be easy? Shouldn't we be reading out-of-date magazines and eating free butterscotch candy?

--Bayliss Open House yesterday. Hotter than hell but very smooth.
--Got an inquiry about Isabella. Someone wants to come for a look in September. A sign that we should wait?
--Biz prospects still threatening.

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