Off Shore Boat Price Consideration

[tommyh]

I have done just that,the list of sold boats confirmed to me about what boats really end up selling for. Easy 40% off asking. Im sure these people making these value claims have not purchased a boat in a long time. I have no problem waiting,their are pleanty boats for me to look at in my area. Just remember " a fool and his money are soon to part"

[savoir]

Originally Posted by Bash

It's okay if they have cash.

Getting cash from a troll . . . . . . . . . . . . . . priceless !

[Doodles]

Originally Posted by tommyh

I have done just that,the list of sold boats confirmed to me about what boats really end up selling for. Easy 40% off asking. Im sure these people making these value claims have not purchased a boat in a long time. I have no problem waiting,their are pleanty boats for me to look at in my area. Just remember " a fool and his money are soon to part"

If they are really selling for "easy 40% off asking", then it should not take long to find one.

Since you have access to Soldboat, take a look at the boats that sell for those kind of discounts and compare them to that ideal boat you are looking for. Soldboat will also tell you how long the boat was on the market and that should tell you something too. There is usually a good reason a boat sells for 40-50% off asking.

[tommyh]

Your right most boats that are for sale are junk

[tommyh]

I do have another one to look at. Its a nice boat though so im going to offer double the asking price.

[jostalli]

Originally Posted by tommyh

I do have another one to look at. Its a nice boat though so im going to offer double the asking price.

OK, smart guy. Thanks for wasting everyone's time.

[Doodles]

Originally Posted by tommyh

Your right most boats that are for sale are junk

That's often right, at least when it comes to big discounts, so if you want a good one you need to forget the 1/2 - 1/3 off strategy and be more realistic. Good ones don't stay around long.

[tommyh]

I told every one that humor just sometimes has to prevale but your taking it serious now so ill cool it.
I do know this is a passionate subject however boats are a big commitment iv owned 2 of them and really did not think it would take this long for me find another one.

[David_Old_Jersey]

Originally Posted by tommyh

I realize now that im wasting my time with all this reading and writing and need to get back on the road looking for that perfect boat.

There is that .

But whilst I do agree that you probably need to revisit how you are going about buying, nonetheless I don't think that automatically means paying more. Although it might do .

My guess is that you are looking at boats which are all less than perfect and require money spent on them to bring them up to scratch (The poor mans financing option?!), and therefore a lot of room for folks to disagree on what needs doing and the cost. Even before getting into the land of the deluded values! - If that is the case then I suggest looking at "good" ones that do broadly the same job, including those more modern and use those as an average starting price (less 10%!) to create a benchmark.......and then work backwards both on the cost of fixes to bring up to comparable to your benchmark (both on the fundamentals and on equipment) and where older them being less desirable to the market (albeit this figure will be a WAG )

.i.e. if I am pretty certain I can get a 1995 XYZ 33 for $70k in good condition (albeit always something to do!) and with plenty of toys then if the 1982 ABC 34 needs $15k of fixes and $5k of toys then it is worth $50k (I would price everything at full boatyard prices - even if DIY on some, DIY being your buffer for missing stuff or getting the guestimates wrong!, plus compensation for risking that), less the fact that everything is older including the design and desirability - WAG = $20k less .......and compare that price to the (smaller) pool of comparable boats from the early 80's that are in A1 condition. and use the lower figure . Could be that you are offering way too little, could be way too much! (excepting "the deal" where a very keen (broke?!) Vendor is involved - and the boat is also good).

Also, if not doing so already, when countering I would include ballpark costs for fixing the stuff you consider need fixing and also for updating equipment (not to showroom standard, but somewhere near the early 21st Century!). Vendor might (probably won't!) agree with you 100% but at least gives them something to chew over and shows that your offer is not simply a WAG plucked from thin air - which probably won't survive a survey. Likely will never get everything you ask for on price, but simply buying someone else's problems (including on their original purchase price!) is not a route to happiness.

[sailorboy1]

There are people who want to have a boat and there are people who just like the idea of having a boat!

[Doodles]

Originally Posted by Don Lucas

There are people who want to have a boat and there are people who just like the idea of having a boat!

Some days I like the idea of liking the idea of having a boat. It seems so much simpler.

[GrowleyMonster]

The true value of the boat is the highest amount you are willing to pay for it. To the buyer, the true value of his boat is the lowest price he will accept. Nothing else matters. If your highest price and his lowest price don't overlap, or at least meet, you have nothing to bargain at. Book price is really immaterial. Survey value is not much better but it is something. Location obviously will influence your max price. It may not influence much the seller's minimum price, if he only recently put it on the market and is not a motivated seller. You got to understand that sometimes there is just not enough middle ground for buyer and seller to both stand on, and a deal just won't be possible.

It is okay to want a boat but not have one for a while. Don't be a desperate buyer. But it is nice to find a desperate seller.

[Randyonr3]

Originally Posted by terminalcitygrl

We were very seriously looking at a boat last fall. It had sold but then came back in the market. The sellers broker let us know that the first offer on the boat listed for $59k was $48k and it was rejected. The second offer was $52 and it was accepted. This offer ended up falling through and the seller had already bought a new boat so he was motivated to sell. We didn't end up offering because after shipping costs, we couldn't make that budget work for us. The boat sold soon thereafter - it was good value IMHO.

That said, we continue to look and to been almost a year. We've learned that with our budget, we will buy something fairly local to maximize value. If you're not in a hurry, don't let anyone else tell you that you should be or you should pay more than you're comfortable with. Taking the long view for us has been really useful, we have a much better sense of what value is to us and we will buy when the right deal on the right boat comes around. We do have a good laugh from time to time about some of the outrageous expectations many sellers have. If you can find a broker you like to work with, ask them to send you the sold boats list for a few different models you're interested. That will be helpful for you.

Good luck.

Very well said,
But on the other side, if time.is an issue, you have to do one of two things. Drop your standards or shell out more money. For us it was the second as the cash wasn't a big.issue, being we had just sold one of our rentals and at the top of the market.
We had moved aboard within a months time and sailing salt water shortly after.
Something I've always believed,
The money won't change your lifestyle, the boat will.

[tommyh]

David_old_jersey.... well put,great advice.

[BoxerOne]

How often have you seen a big ticket item -- house, boat, car, or airplane sold for 1/2 the asking price? Truly?

Draw a circle, three hours’ drive from your home, plug in 20% above your maximum price into Yacthworld and find the boat you would want to own -- NOT THE BEST DEAL.

Within your price range adjust the variables of size, age, condition, and equipment -- every boat is a tradeoff. Once you find the BOAT, not the DEAL that is right for you, work with the seller to get as close to 20% off the price as possible. But don't be surprised or disappointed if you wind up with only 10 or 15% off the list price.

Think about it. If you found a boat that was right for you and it was listed at $40K the difference between getting 20% off the asking price and 10% off the asking price is $4k. Now if you own the boat for 10 years that is a difference of $400 a year, or $33 a month. Would you pass up the perfect boat for you for $33 a month? If the answer is yes, then perhaps you might want to rethink boat ownership?

If all you care about is the BEST DEAL, you will not wind up with the BEST BOAT for YOU.