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Thread: $5.50/lb for halibut

  1. #1
    Member ak_powder_monkey's Avatar
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    Default $5.50/lb for halibut

    um more for butts than king crab you getting in on that for spring break Brian? Now where do I get these IFQ things
    I choose to fly fish, not because its easy, but because its hard.

  2. #2
    Forum Admin Brian M's Avatar
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    It's bad news for me, monkey. Athough I'll do well when I'm crewing this summer, I don't own any IFQs. I have set aside a down payment to buy into the fishery, but given the dockside prices IFQs are going for $21.50-25.00 per pound. I would really like to buy about 30,000 pounds of quota, but that would mean I would be $600,000+ in debt. That's scary, to say the least. If prices crash when people refuse to pay more for halibut than they do for lobster or crab, I'd be stuck holding a huge mortgage. So...I'm sitting and waiting, wondering whether I'm missing the boat and should buy or whether I'm wise to wait. Meanwhile, I'm incredibly jealous of my brother who bought his permits at $8 per pound. I had a similar opportunity, but passed it up because I thought I would be out of state for college. Doh! Talk about regret!!

    I'm glad for our fishermen, though. Nice to see some regular joes getting paid what they're worth. (Yeah, some of them are based out of Seattle, but there are still lots of coastal community families that are benefitting from this.) Not too many bright spots in Alaska's fisheries lately, so it's good news overall...even if I am kicking myself daily.

    -Brian

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    Member ak_powder_monkey's Avatar
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    Wow IFQs are really expesive I mean at the curent prices it would take 5 seasons to pay them off completely thats pretty nuts. In that case I'd recomend a gillnet permit they only put you $100,000 in debt small change to buy into the game lol
    I choose to fly fish, not because its easy, but because its hard.

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    Forum Admin Brian M's Avatar
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    If it were only 5 seasons, I'd jump on it today. 5 seasons?! First of all, prices aren't going to stay at $5.50 all year. Let's assume $4, still a ridiculously high price. Then you've got to figure 35-40% for expenses (maybe less at today's prices...30% at the absolute least), plus income taxes eating up another 20-30%. As near as I can figure, it would be at least 10 years to pay them off, and that's without buying a boat to fish with, which I would really like to do. That would still be a great investment if I knew that the fishery were going to remain vibrant, but still...you can understand my trepidation. As for gillnetting...are PWS permits really going for that much? I thought they were down around $40k??

    -Brian

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    Member ak_powder_monkey's Avatar
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    well a setnet permit +boats nets etc is for sale for 90k hasn't sold in while so maybe some people need to think about price dropping drift permits go for about 50k then 25-40k for a boat. I think the fishery will remain good (yay PWSAC!) but permit prices will remin stagnant because of the crazy politics on the other side of the keani pennisula, thats what I'm hoping for anyway, banks aren't super keen on loaning money to a 19 year old with very little income weird huh?
    I choose to fly fish, not because its easy, but because its hard.

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    Member Alaska Gray's Avatar
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    WOw. It's going to be worht more then gold here soon
    Living the Alaskan Dream
    Gary Keller
    Anchorage, AK

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    Member ak_powder_monkey's Avatar
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    Quote Originally Posted by Alaska Gray View Post
    WOw. It's going to be worht more then gold here soon
    Salmon permit prices in the late 80s were like a couple hundred thousand then things like farmed fish and exxon valdez happened.
    I choose to fly fish, not because its easy, but because its hard.

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