[AshSimmonds]

Luxury boats sold at 50 per cent off due to financial crisis

THE wreckage of the financial crisis went on public display on Sydney Harbour yesterday - 16 luxury boats that their owners could no longer afford.

The repossessed motor cruisers, all near new, went under the hammer at a Cabarita Point marina.

More than 600 bargain hunters looked for savings of up to 50 per cent.

The best deal was a 2008 Fairline Targa 47 - with a book value of almost $1.5 million - that went to an ecstatic buyer for just $685,000.

"I think I got an absolute bargain,'' said the bidder, who declined to give his name.

Judging by a carpark full of luxury cars, including a Rolls Royce, bidders were not short of a dollar, despite the downturn.

All 16 boats were repossessed from cash-strapped dealers, who had been unable to sell them.

The auction raised $4.5 million.

Pickles director John Leftwich said buyers had made savings of 30 to 50 per cent.

"Across the board, I think people got fantastic value for money today,'' he said. "We've seen this kind of deflation in real estate prices, so why not in luxury goods like boats?''

A man who bought a boat on the spur of the moment, while his wife was at a sausage sizzle, said, "We're seeing crazy deals.''

Sydney couple Rodney and Darrall Unsworth bought the "hidden gem of the sale'' - a 2007 Mainship Luhrs 40 motor cruiser to share with their family.

"It's a beautiful boat and within our price range,'' Mr Unsworth said, but declined to reveal its price.

http://www.news.com.au/business/money/story/0,28323,25258692-14327,00.html

[M308]

I have not seen a topic on AE discussing any type of boat.
Show us a photo of your cruiser / ski / wakeboard / fishing / yacht / race boat or any discussion on boats in general.

My 05 Malibu VLX.....great river cruiser but mainly used for wakeboarding.

[alvchua]

quoting what another member of the forum here once said in person .....
BOAT = Bring Out Another Thousand! .....

[scud]

if it fucks, floats or flys.......

[dodger]

I quite like this -

[CortinaD]

Not mine but a friends. I try to get out on it a few times every year as it is by far the fastest and most fine. His yacht is too much hard work as I like to be ballast and sit back and relax but always get roped in to doing something.

[allanuber]

That centre console is awesome. Twin 300's? Not at all overdoing it 

[CortinaD]

That centre console is awesome. Twin 300's? Not at all overdoing it 

I will get some photos of the new boat. It's identical but has bigger yammys on it and the centre only has one multifunction instrument.

They hoot along - as quick as a jetski lol. Not bad for 5 tonne

[dodger]

My brother in law has got a huge boat/yacht he used for fishing, it's been sitting in his garage for 2 years since he bought a farm and hasn't got the time any more, I wonder if these things just rot if not used/maintained.

Same as anything else I guess, why he doesnt sell it I don't know.

[anotherforumuser]

From the first day I saw it I always wanted this little runabout.