Posted on 03/15/2009 4:37:56 AM PDT by fight_truth_decay
PORTLAND — There may be financial turbulence outside, but inside the Cumberland County Civic Center on Saturday, it was smooth sailing.
Boat sales are holding up despite the ups and downs of the stock market, according to Sean Brogan, a salesman for Port Harbor Marine who was one of his company's representatives at the Maine Boat Show, which wraps up a four-day run today.
"People that are coming out aren't talking about a recession, they're talking about boating," Brogan said, noting that he sealed one deal as soon as the doors opened at 10 a.m. Saturday.
Brogan said the foot traffic at the show seemed down this year, but many of the visitors are there for more than just a look at the latest in fishing boats, pontoon boats and yachts.
"They're serious buyers, rather than people just coming to kick the tires," he said.
Brogan said Port Harbor Marine has had a busy spring. He said the company sent several salespeople and boats to the Boston boat show recently, which usually yields a handful of sales. This time, he said, they came back with 18 orders.
The key, Brogan said, is that a lot of Mainers are avid boaters who aren't going to let news about financial crises, bankruptcies and rising foreclosures keep them from getting out on the water during the state's brief summers.
"People that are out there to boat and recreate are still going to do it," he said. "They're going to do it regardless of a recession or the price of fuel."
Steve Arnold, owner of Yarmouth Boat Yard, agreed.
"People want to go boating. They are going to go boating," Arnold said. "The sun's going to come up tomorrow."
Arnold admitted that his outlook wasn't very bright just a few months ago, when he forecast that his sales would drop by 30 percent this year.
Instead, sales are up about 10 percent, he said, "knock on fiberglass," tapping the hull of the largest boat he had at the show: a 35-foot, $350,000 Prowler outfitted with twin V-8 outboards.
It was sold before the show, Arnold said.
Jim Boyle admitted he's not likely to add to Arnold's bottom line anytime soon.
Boyle, who was at the show with his son, Jared, said this isn't the time for someone who's in real estate to sink thousands into a boat.
"If it turns around, maybe next year," he said.
Still, the idea of selling his own house and moving onto a boat had some appeal, Boyle said, until he thought about what it would do to his business if others followed his example.
"I've got to start selling the water," he said.
Nearby, Steve and Megan VanRensselaer were checking out the latest models with their daughter Ashley, 5, but admitted they weren't in the market for what was parked on the floor of the Civic Center.
Steve VanRensselaer said it's nice to look at the new boats, but if the family decides to buy something, it's likely to be an older model.
"I don't know if any time is a good time to buy a boat, but the prices for used boats are attractive," he said as Ashley scampered around an $28,000 outboard.
Besides, thinking about boating made for a nice diversion from the still-frigid weather outside, VanRensselaer added.
"It's nice just to get out and do something other than shovel snow," he said.
Wow... say that fast three times.
Well citizens do have to plan a way to leave this Country.
Blissfully booming amid a bust
Bakers, florists and others in the wedding trade say
business is good, and most couples aren't scrimping.
Sarah Michniewicz, owner of Sarah Michniewicz Bridal and Formal Alterations in Portland, fits a wedding dress for Laura Astor of Portland, who is getting married in May. “I am busier this year than ever."
Obama told the audience the nation "can't afford to wait"..."We have inherited an economic crisis as deep and as dire as any since the Great Depression.We can't wait and see and hope for the best," the president said. "I can tell you with complete confidence that endless delay or paralysis in Washington in the face of this crisis will bring only deepening disaster." 
Eat Cake! Monkey Business Bakery in South Berwick filled an order for 120 individual wedding cakes last week.
Who the heck wrote this crap? Boat sales are destroyed. I know of scores of people who tried to purchase new boats at boat shows. The dealers rang a stupid bell in the convention hall everytime a "sale" was made and everyone started to cheer. Then, we all found out in later weeks that one dealer who had "sold" 11 boats that day had one, exactly ONE of the loans approved by a bank for the sale, and that purchaser dropped out of the deal!
This isn't even scratching the surface of the thousands of used boats out there. They are not selling.
If you are a seller, you had better realize that you won't get anything close to your asking price. It is a buyer's market - but there are not very many buyers.
People who own boats currently are contemplating "upgrading" to a bigger boat to take advantage, but they cannot sell their current boat. On top of that, the loans they need are if they do buy the bigger boat are being disapproved.
Things are so bad that Brunswick (which makes Sea Ray and Bayliner boats) has laid off thousands of workers and closed plants.
Tell us again how great things are?
I design electrical systems for several leading boat builders.
Things are NOT good.
Manufacturing workers, who’ve enjoyed 50-60 hour work weeks are now working 16 hour weeks.
One of my customers took their new cruiser to the Miami Boat Show last month. The boat was very well received, there were several potential buyers, but NONE of them could get financing.
As home prices fall locally, people from around the country are buying waterfront homes in increasing numbers, according to Karen Rolland, president of the Association of Realtors for Punta Gorda, Port Charlotte and North Port. They are potential customers for boat dealers. CAPE HAZE -- Boat sales improved in the first two months of 2009 and some local dealers are feeling optimistic as traffic increases and prices fall. At the January Charlotte County Boat Show, MarineMax of Cape Haze sold 15 boats, five times more than in 2008 and almost twice as many as 2007 when the dealer made eight sales at the show.
The mentioned boats/yards above are often customed. One captain had an organ designed into the boat, which the British owner-client had removed, but that was a million dollars when all said and done. There is a market-a higher up market. Those custom boats take a long period of time to be built.
The Portland Press Herald Brethren (Seattle Times family) Newspapers are pretty liberal in reporting. But they are also seeking finances (State pension cash).
I didn't write the article. This is what some of the boat builders/sales in Maine are reporting. On the coast when one buys, a boat goes along with it.
Better yet “boat buyers buoy boat barons by buying boats”
JB Turner, president of Lyman-Morse Boatbuilding of Thomaston, which turns out multi-million-dollar yachts, said the 160-employee company has managed to keep busy this winter with five projects contracted before the stock market tanked. "But we are seeing the pipeline dry up," he said. His company is diversifying. It has developed portable solar-panel arrays, and the federal government bought some. Turner said the economic stimulus package also could bring in some new business.
March 1, 2009
Gordon Chibroski/Staff Photographer A Sabre 38 Express, built by Sabre Yachts in Raymond, is launched for water trials at Gowan Marine in Portland prior to shipment to Spain later this week. Two of Sabre’s product engineers involved in the testing, Rick Baul and Glen Campbell, can be seen at left.
Time for me to dig out my inventory of bridges, clean them up, and start making calls.
"Put another one on the big board, Mr. Costanza!"
Hope Obama, Pelosi, and gang don’t read this story. Can anyone say luxury tax?
Nice interior cabin? Hope it came with lots of electronics.
Amen. You nailed it.
The Lake of the Ozarks area must have $50 million in boat inventories. A deal can be had on a Sea Ray, Fountain Formula or even Bass Tracker.
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