Area 1 Lobster Permit

ANUT

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Looking to sell Federal Area 1 Lobster permit with 800 trap allocation. not looking for low ball offers. I know what its worth if intrested make me an offer.
 

myentourage

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If you know what its worth, Why don't you put the price down? And then someone will make an offer.;)
 

BillD

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Ok here is what im looking to get for permit. 14,500

ANUT or others here ?

Explain to me the Area I federal permit please.

What are the Area I boundaries?
How does a federal permit overlap with or compete with a state commercial permit?

Is there a "guess" on the future "value" of these federal permits going forward ?

Curious?

And for those who are pondering....",,NO Bill D is not getting into commercial lobster fishing".....
 

ANUT

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Bill D:
Lobster Management Area 1 is defined by the area, including state and
Federal waters that are nearshore in the Gulf of Maine, bounded by straight lines
connecting the following points, in the order stated, and the coastline of Maine, New
Hampshire, and Massachusetts to the northernmost point on Cape Cod:
Point Latitude Longitude Point Latitude Longitude
A 43
/58' N. 67/22' W. G 42/05.5' N. 70/14' W.
B 43
/41' N. 68/00' W. G1 42/04.25' N. 70/17.22' W.
C 43
/12' N. 69/00' W. G2 42/02.84' N. 70/16.1' W.
D 42
/49' N. 69/40' W. G3 42/03.35' N. 70/14.2' W.
E 42
/15.5' N. 69/40' W.
F 42
/10' N. 69/56' W.
From point “G3" along the coastline of Massachusetts, including the southwestern end
of the Cape Cod Canal, continuing along the coastlines of Massachusetts, New

Hampshire, Maine, and the seaward EEZ boundary back to point A.
the map that goes wih this text is on Noaa.gov. Bill the Value of this permit is only going to be worth more over time. reason being the permits are getting harder and harder to find as they are cutting them back.
 

ANUT

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That sounds reasonable for an area 1 with that many tags.

it is a very fair price considering the surveyer just valued it at 15,500. The way you look at this type of thing is what is it worth to the buyer and what he will net with it in one season.
 

steveinak

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Don't forget to figure in the price of lobsters high lobster price permit goes up low lobster price permit goes down. I've seen our permit prices here swing $200,000 with the price/forecast for salmon.
 

myentourage

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You can't really go by the way things are right now, lobster prices are too unpredictable. Anyone who buys the permit has to take a chance that the lobster industry goes up in the future. No matter what prices are 14,500 is not alot for a permit with 800 tags, its not a bad investment it will always be worth something someday. If prices go back up to 8 dollars a pound in the future you will not even be able to find one of these permits. I bought an area 2 permit 5 years ago with 180 tags and can't say the prices are any better now. The Area 1 permit is worth 14,500.
 
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thebridge

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The price of lobster is low.....bait just went up and diesel is still high. Oh yea, you will need a boat, 800 traps/rope/buoys/bait bags too.
14,500 is a great price!
 

myentourage

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Yeah doesn't seem to make sense right. The fact is 14k for a "limited" entry permit that you could potentially make a living with someday is not a lot of money. If I fished that area I would be all over this.
 

Badlatitude

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lobmap1.1.jpg
 

ANUT

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Is it in good standing? Fished?

Yes the permit is in good standing and is allocated for 800 tags. I have the letter saying everything is all set and ready to be fished. This is a very old permit with lots of history. If i dont get 14,500 I will sit on permit and just keep buying my tags. I know the price is very fair and will not take any less. Thanks for all your input, if you are looking to fish these areas this is a steal.
 

googinhater

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Yes the permit is in good standing and is allocated for 800 tags. I have the letter saying everything is all set and ready to be fished. This is a very old permit with lots of history. If i dont get 14,500 I will sit on permit and just keep buying my tags. I know the price is very fair and will not take any less. Thanks for all your input, if you are looking to fish these areas this is a steal.
Hey you know is all about landing you lare going to need to land some weight to keep up the good history
 

Drakes

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Not federal you just have to buy tags every year...the kicker is you need a state landing license and you are subject to the strictest rules. You need tale at a forty foot boat as fishing outside in my area of area 1 requires some traveling and moving thirty traps instead of sixty or ninety at a time is pointless
 

Leprechaun

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If you look around you will see a few that have been for sale for a while in that price range. Not sure who said it above but once you catch em in federal waters you have to unload em in state waters.
 
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