Thoughts on " Priced for Quick Sale "

[Privleoplag]

I've been perusing boats for sale for over a year now, and I am really getting a kick out of these boats that are listed as "priced for immediate sale" or that the owner "really wants to sell, bring offers".

If they're priced for immediate sale, why have they been listed that way for a year.. is "immediate" different in the boat selling realm? Does priced for a "quick" sale mean much longer than a year? Do these boats listed for quick sale mean that all the others listed are priced for a sale sometime way in the future? Why don't they say "priced for a slow sale"? Which, apparently after viewing all the boats that I have an interest in daily for over a year, is exactly how they're priced.

[David M]

I don't think it's necessarily a reflection on the boat itself. It may be that the owner needs the cash real quick for whatever reason and drops the price which makes the boat a true bargain.

[kevingy]

"Priced for quick sale" is typically a marketing device intended to create a sense of urgency and fear of loss. A buyer might think "Wow, I need to jump on this before it's not there anymore." It's usually just one more thing a boat broker puts on a listing to make the boat sound good. Occasionally, there is a real "priced for quick sale", but they sell quickly.

If the boat has been "priced for quick sale" for more than a year, obviously, it's not really priced for quick sale. No one is going to say "priced for slow sale" any more than they're going to say "the owners are upside down on the boat and can't take less than the list price" or "this boat has been neglected for years and the price reflects it".

[Nomad57]

Um, methinks the OP was engaging in a bit of rhetoric, to expose the fallacy of the advertising.

I did see one boat, once, that was priced for quick sale. It was a Little Harbor 44, the price was dropped on a Friday to $99,000. I saw it on Sunday, made inquiries, but it was gone by Monday. The broker told me that the buyer would resell it if I were "super keen". I wasn't that keen.

Nomad

[Privleoplag]

I admit, I do see some where the price drops and then shortly thereafter, they are "sale pending", but many many more have been priced for "quick sale" for a very long long time. In all of this, one thing for sure.. there is no reason to be in a hurry to buy, unless you need one for the upcoming weekend or month.

Nomad... I was beginning to wonder if anyone got it. I figured the "priced for slow sale" was a giveaway.

[sarafina]

I think more than cars or houses, the other two large purchases I could compare a boat to, there is SUCH a gap between what gets poured into them holes in the water, and how much someone is willing to pay for the hole.... that it is hard to close the gap between what the seller wants to recover and what the buyer is willing to invest...

Because a house ALMOST always retains value or appreciates over time. And a car is viewed as a necessity and, over the course of ownership, in relation to the original purchase price and the amount of use it gets and perceived necessity of owing it for most folks and the volume of resales providing a solid market worth, is easier to price and sell.

Boats have the whole romance deal wrapped up in them and the constant need for maintenance and improvement... and are a luxury item to most folk...

I think THAT is where the difficulty comes in the market...

[scook1]

Every single time I see the "Priced for quick sale" tag on a boat for sale, I feel like I have to buy it right then and there! I show it to my wife immediately, who instantly reminds me that there are always boats priced for quick sale, and probably will be when we are ready to buy.
Spencer

[sailorboy1]

In todays market "priced for a quick sale" may mean it might only take a year.

[ViribusUnitis]

I don't know why anyone puts that on their add.

If I see "priced for a quick sale" the first thing I think is "this guy needs cash, lets offer him 1/3rd is asking price." Why would ANYONE put a line on their add that suggests that that you NEED to sell now, and just the buyer can make a low offer that you might accept.

Equaly intersting, why can I find a boat in Yacht World for a price, but then find it on e-bay or craigslist for between half and 1/3rd that price? That's CRAZY, and I think it should some how be in breach on the contract with the broker to sell the boat.

[muskoka]

It's no stranger than 'for sale' ads which have no price. What's with that?

[Nomad57]

Originally Posted by ViribusUnitis

If I see "priced for a quick sale" the first thing I think is "this guy needs cash, lets offer him 1/3rd is asking price." Why would ANYONE put a line on their add that suggests that that you NEED to sell now, and just the buyer can make a low offer that you might accept.

I heard about people doing that (offering half) in the early 1990s, and getting it, but I dunno if that would work now (in Canada, where I've been given to understand, the market isn't hurting as much as in the U.S.)

Originally Posted by ViribusUnitis

Equaly intersting, why can I find a boat in Yacht World for a price, but then find it on e-bay or craigslist for between half and 1/3rd that price? That's CRAZY, and I think it should some how be in breach on the contract with the broker to sell the boat.

If that is true, I need to change my shopping habits. (I checked craigslist yesterday. E-Bay, here I come...)

Nomad

[Nomad57]

"Priced for quick sale" is a concatenation which normally would read,"PRICE I'm hoping to get, hoping FOR QUICK SALE".

It saves advertising space.

Nomad

[sarafina]

Heh... we went out Saturday to see a little ranger 23 just like ours. We wanted to see the rigging on it as we are redoing our own. The seller knew this and was happy to have us come look. He asked us if we minded telling him how much we paid last year for the same boat. (not in as good condition as his at all)

He looked a bit green when we confessed that it had been given to us with a 1$ handshake....

We assured him his boat was much nicer than ours, and it is, but he is hoping to get 3500.00 for it. And I have no idea if that is reasonable for a 1976 Ranger... It's a nice little boat, but the market here pretty much sucks...

[ViribusUnitis]

Originally Posted by Nomad57

I heard about people doing that (offering half) in the early 1990s, and getting it, but I dunno if that would work now (in Canada, where I've been given to understand, the market isn't hurting as much as in the U.S.)


Nomad

Well, I don't have a boat yet, but it worked out just fine for the house I bought.

I'm also noticing that the boats that I'm watching start out at a given price, and then a few months later take major reductions in price. And then some more. And then some more, and the next thing you know they're offering to sell them at half the price of their origional listing, and they're STILL not sold. And the price that they're asking is far less than the price that you'd pay if you tried to build the boat.

It all makes me think that the market for the boats that I'd like to have, but am not in a possition to buy yet, is simply terrible. I REALLY would like to be buying right now. I could buy a nice big trawler like I want, I've got the cash to buy it, but I've got no place to keep it! And I don't have the cash to just sail away with my wife, and forget about keeping it close to work!

[Capt Phil]

Good Point, Sara... on the last two boats I purchased, I turned the 'priced for quick sale' around and made an offer at what I thought the boat was worth to me based on initial cost, $ to bring her up to what I felt was above average seaworthy condition and FUSED the offer, ie., offer had to be accepted within 24 or 36 hours because 'I had another deal pending'.
It worked on one boat not the other but at least I felt I had some control over the deal.
A lot depends on how anxious the seller is... needs the cash? partner is putting the heat on to sell? ill health? just testing the market? reasonably priced? other recent offers?
Both boats were for sale by owner with no broker involved.
A buddy of mine recently tried to buy a boat that was listed with a broker 1000 miles away who was very difficult to contact/ deal with. My friend gave up trying to do the deal with the owner finally, because the broker kept trying to manage the deal long distance. The boat is still for sale.
You're right though, there is a lot of emotion getting in the way of financial decision making when it comes to boats. The exception might be the experienced sailor who is looking for a sound, offshore vessel and knows the value of what he or she is looking at and what needs to be added before casting off. Capt Phil