Time to buy low on boats

Even in dark times, there is a silver lining.

As the economy continues through choppy waters, those who have saved and are weathering the storm may find next week a time to poke their heads out into the sun.

The 36th annual Newport Boat Show anchors at Lido Marina Village Wednesday and is scheduled to set sail April 19, giving the upper crust of Southern California an opportunity to make their next big investment.

For five days, Southern California boat dealers will show off some of their biggest boats, and according to organizers, at prices not seen in years.

“The biggest thing we did was an attitude adjustment. We’re not ignoring what’s going on out there. Everything we’re talking about is this is some of the best prices we’ve seen to buy boats,” said event organizer and publisher of Sea and Boating World magazines Duncan McIntosh. “You could get a heck of a lot more boat than you could last year.”

Organizers have no delusions about the economy and know there’s a lot of pomp and circumstance surrounding the twice-a-year event.

On just a plain economic level, however, a combination of boats priced unusually low, better financing to jump-start business, and more slips available than ever, McIntosh and Co. think this is a time to buy low and sell high.

“I think people are even more careful discerning how they spend their money,” said Don Franken, who’s organizing the event. “I think a year ago it was maybe the wealthier people or the big boat buyers who were more insulated. I think over the last year everyone’s been affected.”

“People are doing more to their homes, and to many of these people, their boats are their second homes,” he added. “Part of it is hunkering down to things that are really their passion.”

Indeed, some of these boats could be homes. McIntosh closed a deal Thursday to have a 103-footer shown, on top of the 98-foot boat already scheduled to be on display.

As the stock market slowly rebounds, organizers said even boat sellers are seeing more activity in recent months.

“It’s like a date event or a family event. It’s still family and togetherness, and I think that’s what all of us do in these hard times,” Franken said.

Smaller boats, in the $10,000-plus range are available, to complement the top-tier boats at more than $5 million, officials said.

Franken said there will be close to $100 million worth of boats on display next week.

IF YOU GO

WHAT: 36th annual Newport Boat Show

WHEN: Noon to 7 p.m. Wednesday, 10 a.m. to 7 p.m. Thursday through April 18 and 10 a.m. to 6 p.m. April 19.

WHERE: Lido Marina Village, Newport Beach

COST: Ticket prices are $12 for adults and free for kids 12 and younger.

INFO: Call (949) 757-5959 or visit newportinwaterboatshow.com.

Reporter JOSEPH SERNA may be reached at (714) 966-4619 or at [email protected].