Off Shore Boat Price Consideration

[tommyh]

Wow dude,you know nothing about real estate,Here in the bay area houses have been selling for one third of asking for the last 4 years. I guess boats have been bucking the trend.

[witzgall]

And you will NEVER find it. There is no perfect boat.

Chris

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.

[Randyonr3]

Originally Posted by witzgall

And you will NEVER find it. There is no perfect boat.

Chris

and you'll never get those days back you spent looking..once they're gone, they're gone..

knowing what I know now, and having shaired the last 10 years aboard with my wife, and exploring new places, I would have paid double the asking price of the boat we now own..

You not only need to put a value on the boat, but your life aboard as well.

[Vasco]

As I've said before for those that love sailing and cruising buying a boat is more an emotional experience rather than a dollars and cents decision. I bought my latest boat in the US when the Canadian dollar was trading at 76 cents US. The Canadian dollar is now at par or better. But it's eight years later, it's eight years I've had cruising in my new boat. I'm eight years older now, if I'd waited for the Cdn dollar to rise (or the US dollar to fall) I'd have gotten a better deal but it would have been eight years without the new boat. I realize I'll never get my money out of this boat but eight years cruising in a well fitted out boat must be worth something.

You can wait forever for the best deal of your life but you might be dead the day after you close the deal. Time cannot be bought.

[susswein]

I haven't tried this technique out with boats (yet), but it worked great the last time I bought a house:

I submitted TWO written offers on the same house on the same day. Offer #1 was app. 25% off the asking price, but in as-is condition. Offer #2 was for the full asking price but with a 2 page list of all the defects (both large and picayune) that needed to be fixed prior to closing. The seller accepted the 25% lower price the next day, with no haggling.

[tommyh]

I did try that,he got offended.

[Vasco]

Originally Posted by susswein

I haven't tried this technique out with boats (yet), but it worked great the last time I bought a house:

I submitted TWO written offers on the same house on the same day. Offer #1 was app. 25% off the asking price, but in as-is condition. Offer #2 was for the full asking price but with a 2 page list of all the defects (both large and picayune) that needed to be fixed prior to closing. The seller accepted the 25% lower price the next day, with no haggling.

Well there's a problem. To get a survey and sea trial (to find your 2 page list of defects) you need an offer accepted. Of course you can offer full price subject to survey but what if the survey finds only minimal defects.

[Vasco]

Originally Posted by tommyh

I did try that,he got offended.

You made an offer at full price? Thought you only offered half to a third of asking.

[Captain Grandpa]

Originally Posted by Cheechako

In a nutshell....forget nada. find comparables, how long on the market, last lowest price listed, subtract about 30% and start there. 40-50% for a little known boat in poor condition, 20% for a well known boat in decent condition....
Buying a boat is also "selling". You need to sell your position to the broker or seller. convince them your offer is fair with facts, similar boats, work needing done, location... etc...
Some sellers are too new to market conditions to be realistic. time will convince thm , but you cant.

*nod*

[Celestialsailor]

Originally Posted by tommyh

I have been in the market for a year now trying to find a suitable boat for me,the advice iv recieved is offer half to a third of asking price,iv done both and have gotten no ware.
I am stumped as to putting a value on a boat. I can only put it this way,their are boats that are for sale and boats that are just on display. I have not yet met a seller that has the same idea of value than I have.

Keep lowering your price until the seller punches you in the nose. That is an indicator you need to double that price. try it...it works!

Originally Posted by Vasco

Don't know where you got the advice from but obviously it was not good advice. If you have been looking for a year and haven't bought yet, your idea of value is much different from the market. Perhaps we might understand your predicament better if you gave us an example, say your last offer and the boat that you made the offer on.

I don't know the age of boats you're looking at but just check the price of a new boat and you might get a better understanding of what boats cost. There is little wiggle room on new boat prices.

So true...Better still hire a broker. It doesn't cost the buyer anything to my understanding.

Originally Posted by tommyh

I offered 15,000 hopeing a counter would be just under 20,000. By the way tire kickers doNT walk around with cash.

Let me guess...he knew you had cash from the $100 bills popping out of your pockets.

Originally Posted by tommyh

Wow dude,you know nothing about real estate,Here in the bay area houses have been selling for one third of asking for the last 4 years. I guess boats have been bucking the trend.

I live and work in the bay area. The only ones that are selling for 1/3 are the unhabitable ones up against the freeway. A 2 bdrm 2 bath in Alameda is going for $650,000 asking and getting offers for more. I can imagine SF is pricier.

[Iskoteo]

Is there not a word for those who prey on the misfortunes of others?

[tropicalescape]

Originally Posted by Iskoteo

Is there not a word for those who prey on the misfortunes of others?

Lots ,Pawn Broker,Attorney,Funeral home person,used car salesman,and the worst one of all, Aircraft brokers!...

[sparau]

Originally Posted by Iskoteo

Is there not a word for those who prey on the misfortunes of others?

After the market has gone down that equates to ALL buyers, the misfortune being that someone bought something at a greater value than the market now percieves or can afford.

There's some odd thinking in this thread, if anything is forcing someone to sell their boat then that is outside the buyers ability to fix unless they just feel like giving that person a get out of jail card and take a loss when they go to sell...

For someone to fire sale at 40% means that they tried selling it at what they thought was 100% and no-one wanted it, a market correction then occurs until it sells in the time frame required.

[Red Sky]

Long time lurker finally joins

To tommyh,, I live in the S.F. Bay Area and I know real estate. Other than bank owned p.o.s houses, nothing is selling for 1/3 the asking price, same for boats. Between the " Dude" and the snide " some rich guy" comments on this post I think I've got a pretty good idea what kind of boat buyer you are, the kind I'd tell to take a hike, which I'm sure in the year you've been looking you've heard before.

[Iskoteo]

Originally Posted by sparau

After the market has gone down that equates to ALL buyers, the misfortune being that someone bought something at a greater value than the market now percieves or can afford.

There's some odd thinking in this thread, if anything is forcing someone to sell their boat then that is outside the buyers ability to fix unless they just feel like giving that person a get out of jail card and take a loss when they go to sell...

For someone to fire sale at 40% means that they tried selling it at what they thought was 100% and no-one wanted it, a market correction then occurs until it sells in the time frame required.

I think a lot of sellers are letting go a boat load of memories/dreams and so it's tough to begin with. I don't believe a seller should have to deal with someone who tries to guilt them any way they can into giving them something for nothing. Simply show the seller some comps. In this world most often "you get what you pay for"