Since Sea Ray has stopped producing their larger luxury yachts, available listings have seen increased time on the market, larger discounts off of their sale price and liquidity issues for current owners.
Sea Ray announced they will be ceasing production of yachts to focus on their core business, smaller boats. So what does that mean for you if you currently own a Sea Ray yacht or if you are considering purchasing one?
Well, that is largely contigent on if this consolidation is a permanent strategy or a matter of repositioning the company moving forward, but I think it’s the end of an era. I’m thinking the ladder and if there’s one thing I know, it’s that buyers of new boats, tend to stick within new boats, so they’ll have to shop elsewhere (Sunseeker, Tiara, Galeon, etc), so the market should be flooded with late model sea ray owners looking to move on quickly.
*Since this was written, this is in fact the case.
Simple economics are at play here as a greater supply, presents the opportunity for better pricing, yet salesman and brokers are going to tell you that these boats are selling at a premium because there’s nothing American made at the same price point of the same age.
My philosophy however, tell that story walking Buck-O; to best understand the situation let’s examine what happened to Lazzarra sale prices as they were the most recent American yacht manufacturer to cease production of their yachts.
Prior to the recession and ceasing production (althogh several semi custom models were delivered afterwards), the median amount of time a Lazzara spent on the market was 4 months and would sell at a median price of 6.13% below it’s initial list value, whereas after the recession and they stoped building and selling boats, the median time on market figured jumped 50% to 6 months as well as the median sale price below initial list at 12.9%.
Taking this data one step further, every Sea Ray that is sold should essentially establish the ceiling for what you’re willing to pay for your Sea Ray.
Since the production of Sea Ray larger yachts have stopped, they have been replaced by their largest distributor in MarineMax with Galeon yachts, a Polish boat builder that has quite frankly put forth the same exact product with a few extra bells and whistles. Again, I would advise my buyers to look elsewhere from Sea Ray unless the deal is truly good enough.
(HOW TO SPOT A NO BRAINER DEAL – READ NOW)
To obtain additional figures or analytics that pertain to your search, please feel free to reach out at firstname.lastname@example.org, your forensic, nerdy, yacht purchasing advisor.
Thanks for reading and Happy Yachting My Friend
-CM The Yacht Hunter
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