What about the recession?

It’s quite possible you have lived through many recessions during your life, and have been affected since the one that hit in the early 1950s. There has been at least one – and sometimes two – significant recessions per decade. And while often frightening and stressful, these struggles offer lessons to be learned.

Unfortunately, we don’t know what the future holds. How quickly will this current downturn last? Speculations abound, so we can only go by history and look to others who have made good decisions in the past. Warren Buffett once said, “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” In other words, sell when everyone is buying and buy when everyone is selling.

Who can you trust?

One thing to consider with a purchase like this is whether the builder of the boat you are interested in will be around to support the brand value and warranty. Our advice is to be careful here. Some of the manufacturers in our segment of the market might not last to see through to the end of the current decline. Buffett also has some wisdom here: “Time is the friend of the wonderful company, the enemy of the mediocre.”

After more than 30 years, Nordhavn has endured its share of tough times and has always come through stronger. Time, indeed, is our friend. We have a large production run with many orders while other builders are halting production.

Be opportunistic

Some of us have had a reversal of fortune; that is a fact. As a result we have a very limited number of boats on order with owners who will not be able to complete their contracts.  This presents the eager shopper with an extremely rare opportunity on a new Nordhavn at a discounted price. Talk to one of our Nordhavn sales team members for current information on such an opportunity.

Another way to be money-wise is to be number one. Historically, new model Nordhavns present the biggest savings and if you are the buyer of a Hull No. 1 you are rewarded for your patience and faith. (Prices always go up on the following hulls.) On top of this, some investors in early hulls have had a bit of input toward the design of the new model. Again, talk to one of our Nordhavn sales team members for information on upcoming new models.

Exit Strategy

Keep in mind that when it eventually comes time to sell, the value of a Nordhavn remains incredibly strong – which is another testament to the lasting value of the Nordhavn reputation. Here’s some perspective: A 2006 Nordhavn 55 recently sold in three months at 90% of the original purchase price. Compare that to how well all of your investments have done over the last two years, including your home.  In fact, Nordhavns that are six- or seven-years-old have sold for up to 130% over the original purchase price.  No one thinks of boats appreciating, unless of course, they own a Nordhavn. Only Nordhavn delivers the confidence of a solid investment. Here’s Warren Buffett again: “Price is what you pay. Value is what you get.”

Built to cross oceans and weather storms, a Nordhavn is a safe haven for you, your family and your money. Is this the right time to buy a new Nordhavn? Only you can decide for sure – in fact, you probably already have.

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