Empty slips

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sabrejocky

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Joined
Sep 11, 2003
RO Number
12195
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557
Yesterday after dropping my wife of at Fort Lauderdale airport I decided to take A1A all the way back to West Palm Beach.
The thing that really caught my eye was the amount of empty slips along my drive. I have driven this route plenty of times in the past but not for say the last 2 years. Lots of slips belonging to those mega mansions are empty, WHERE DID ALL THESE YACHTS GO???
Is this a sign that things are really THAT bad, lots of for sale signs on the homes too.

Cor
 
My thoughts:

The yachts left the country to foreign buyers in SWA or China or Russia.

Yes things are that bad.
 
I saw a lot of empty marinas ans very little traffic on the way south last fall. Over the holidays, no problem getting slips in key west, Miami beach marina, etc here in the grove there has empty slips as well
 
I think times are "bad" for everyone right now, it's just that the more affluent are giving up some of their luxury where the less affluent are trying to get by without many of the basic necessities.
When I look at how much the value of my boat and home have dropped in value it hurts until I realize that we've lost nothing other than their resale value while many we know have actually lost their jobs with little prospect of recovery of their loss's within the remainder of their lifetime.
Makes me appreciate my boat and the lifestyle that comes with it, I'm a very lucky person.
 
I saw a lot of notice to vacate you slip signs for non-payment of fees at Discovery Bay.
 
I think most have went back to where they live full time.
 
+1 for what rtribble said. Thanks for that perspective, it really hit home.
 
I saw the owners of my marina at the AC boat show. They were having a drawing for 5 slips at 50% the normal fee for 2011 (new customers). Two years ago, you could not get a slip there
 
Probably the slips belonging to the mansions are empty because the mansions themselves are empty.
 
Empty slips, lots of homes/condos for sale at significantly reduced prices. Marinas are reducing prices in order fill slips, others are changing policies to provide enticements for owners to stay. End of month a 62 year old family marina business closes forever.

Times are indeed bad, and not much to indicate they will soon improve. Sold my sportfishing boat in the fall, took a big hit. Bought a used trawler, got a great deal. For each of the last three years marinas here, have seen a serious loss of winter vistors from up north. Just five years ago they were always full and were not even using a waiting list. They are now better then half empty and begging.

John
 
Been at Burnt Store Marina since 2008 and lately have not seen so many empty slip.
Was a waiting list many years ago,but I was just told that no empty moorings or slips in martyon this year.
 
I called the base marinas at Patrick AFB (Canaveral) and the Navy Base in Jacksonville for slips this coming week. Both asked if I wanted the slip for a year. Patrick has an open slip for $4.10 a month and they offer covered for $5.75 a month (per foot) and if your a club member you get 10% off. While I did not need one for a year. I did put my name on the waiting list for the covered slip. It is where we will be homeported at the end of next year. If my name comes up before then I will pay for it empty to keep it.. The Navy base was a flat rate of $250 and also included electric. They also were willing to give me a full time slip. I am leaving it there until the last week of April when we will go back and move it the rest of the way to VA.

My point in all that is even at such a cheap rate they can not fill the marina. And if they are hurting at those prices then I can not imagine that how the marinas that quoted $10-$15 per month plus electric plus pump out plus plus plus, stay in business.

As for where they are going. Overseas. One broker I talked to in Southern CA when I was looking said he is sending 2-3 boats a month to Australia. Likely a fair number going to Europe and Asia too. With and without the boat and/or banks knowledge.
 
A huge number of those yachts and mansions were bought with bubble money. Now we are back to reality, with a penalty added for past greed and short sighted behavior. It'll all re-inflate someday, and everyone will say "this time it's different".
 
I know that for a while a lot of boats where going to Europe but that ship has sailed. Still a lot of fibreglass and alu must be piled up some where. I have been checking the listings of some of the brokers that are known to handle bank repos at the boats are not there either.

Cor
 
How many do you think have been reported stolen but are actually sitting in the deep somewhere?
 
quote:
Originally posted by jmeirhofer

How many do you think have been reported stolen but are actually sitting in the deep somewhere?

Click to expand...


That ship sailed too John. The insurance companies want lat and long and they will send divers down. When the housing bubble burst, I believe it was Chicago was losing about 16 boats per week to insurance claims.
 
I don't think it's as bleak nation wide, our marina, South Bay in Green Bay,WI is full and is contemplating expanding to meet the need. Granted it's smaller than alot of marinas in Florida, 144 slips but it gives me hope that the midwest is rebounding anyway.
 
There is still a lot of boating activity where we are...Melbourne, FL. I do think people are being conservative, but not giving up entirely.
 
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