Hunting for boats at bargain prices

With stocks, the rule is to buy low and sell high.

With yachts it’s not much different. Just like the saying goes, “The happiest day for a boat owner is the day he [or she] sells it.”

Well, today through Sunday, yacht dealers in Newport Beach are looking to make some boat owners very happy. They will give customers an opportunity to play a kind of stocks-on-the-water with the annual Lido Yacht Expo at Lido Marina Village.

“It’s going good; basically yachts have been doing this a long time. Boats are selling,” said John Buettner, president of Stan Miller Yachts, who had plenty to sell during the opening day Thursday. “They’re selling at fairly depressed prices. It’s absolutely great prices.”

“People are looking to sell boats and are pricing them very aggressively. Boat slips are still a lot less than they were a year ago,” said Duncan McIntosh, organizer of the 31st annual show.

He said the conditions are similar to last year and people are still suffering in the economy. You may not see a lot of casual first-time buyers, he said. But you will see your wealthiest customers looking for their third or fourth yacht at bargain costs.

“It’s value-oriented. In three to four years they’ll look like geniuses,” Buettner said. “See, we got such a supply of boats out there that manufacturers aren’t selling. In a few years when they cut back on building,” today’s boats will leap in value.

The show also offers a tour of John Wayne’s famous Wild Goose yacht, which was a converted World War II minesweeper. Guests can tour the boat daily from opening to 3 p.m.

The Lido Yacht Expo is offering nearly 200 yachts ranging in size from 30 feet to 75 feet, McIntosh said.

If You Go

What: 31st Lido Yacht Expo

Where: Lido Marina Village, 3424 Via Oporto in Newport Beach

When: noon to 7 p.m. today, 10 a.m. to 7 p.m. Saturday and 10 a.m. to 6 p.m. Sunday.

Cost: $12 for adults and free for children younger than 12

More Information: Call (949) 757-5959 or go online to www.LidoYachtExpo.com