What percentage of asking price would you offer?

[frozenhawaiian]

Originally Posted by Bulawayo

Totally agree....... there is always another deal.

Originally Posted by Terra Nova

On a popular boat model it is fairly easy to determine the fair value (which is less than average asking price). The boat's condition will tell you how much to knock off fair value for repairs.

On an oddball/difficult to sell/unpopular boat it can be much harder to determine fair value. But it might be significantly less than an equivalent popular one.

An immaculate boat should carry a price premium. A dog should be avoided.

Low-ballers are shunned. The right selling price is one that is fair for both buyer and seller.

and this is especially true when it comes to wood boats, especially old wood boats.

[siamese]

Originally Posted by Liam Wald

Humor is one thing but passing off mean spirited statements and passive/aggressive digs as humor is quite another.

Well, then I suppose you've already apologized to StuM for referring to a very harmless, inoffensive bit of banter as being "snarky". C'mon, it even had a smiley face in it. Get a grip, already.

[Cheechako]

it all depends on the boat. If you look long enough you will learn what a deal is. If you run across a $4000 boat that is a deal, buy it immediately at full price. If it's not a deal but still acceptable, start low.
I was looking at a 27 ft $5000 boat a few years back. A popular model with diesel inboard. I told the owner, who claimed he was moving to Kansas, I would think about it a couple days. I got busy and called a week later. He had given the boat away... free!

[sailorboy1]

I think it is a better deal to pay a little too much for a boat in good condition, than it is to pay too little for a boat in poor condition.

[Mike OReilly]

Originally Posted by Terra Nova

On a popular boat model it is fairly easy to determine the fair value (which is less than average asking price). The boat's condition will tell you how much to knock off fair value for repairs.

On an oddball/difficult to sell/unpopular boat it can be much harder to determine fair value. But it might be significantly less than an equivalent popular one.

An immaculate boat should carry a price premium. A dog should be avoided.

Low-ballers are shunned. The right selling price is one that is fair for both buyer and seller.

Agreed. As a seller I tried to treat all inquiries with respect, but the low-ballers were easily the most obnoxious. I learned to ignore them like I learned to ignore the scammers.

One thing about oddball boats is that they can have a small but interested market. When I sold my oddball centre-cockpit ketch I knew it would only appeal to a small group of buyers, so I was well prepared to wait for the right offer. And when I bought my current odd-ball cutter I again knew I was operating in a small but focused market. This is why I say just offer what you think the boat it is worth TO YOU.


Why go fast, when you can go slow

[bretto55]

Hi, I always assume that items are sold for a reason. Factor in the price of engine rebuild, sail repair/replace. And other stuff. Most things are sold because they are rooted.
I work on the worst case scenario theory, making sure that I get the price reduced enough to carry out the repairs on maybe faulty gear.

[Stu Jackson]

Originally Posted by bretto55

Hi, I always assume that items are sold for a reason. Factor in the price of engine rebuild, sail repair/replace. And other stuff. Most things are sold because they are rooted.
I work on the worst case scenario theory, making sure that I get the price reduced enough to carry out the repairs on maybe faulty gear.

Did you mean ruined?

If what you say is true, this flies in the face of folks on this very forum who recommend to, say newbies, that they buy boats in great condition instead of "project boats."

Not all boats that are sold are ruined, with gear that requires replacement.

I bought a then-12 year old boat in 1998 in excellent to pristine condition. The seller was switching to a trawler 'cuz he was getting older.

I'd looked for a full year for ONLY this particular boat, saw some horrible examples of neglect, for not such low prices as one would assume.

There are many different models of sales & purchases.

[scgilligan]

Originally Posted by Terra Nova

Low-ballers are shunned..

This was my reason for asking the question. We all want to get a "good" deal and I do not want to be "that guy"..the one always trying to get something for nothing..the one that comes across as a jerk. But, conversely, I would be under the impression that an "asking price" on a boat is just like on a house..it is something that a buyer would gladly accept, but is inflated to allow for negotiation. I ask fair prices on anything I sell, but have never been offered full price for anything I have ever sold on CL, etc. People always offer less to see if you will accept it. So, if my house appraised for 150, and I offered it for sale at 150 you would all gladly pay that price? Doubtful. You'd offer me 135-140 just to see if I'd take it and you could save yourself 10G's...regardless that the house is "worth" 150. It's just the nature of things/people. And, if you found that my house had been on the market for a year, you'd go even lower. It is expected in the house, car, boat market..its not like going in the grocery store..no one haggles with the cashier about the price of every grocery item to see if they can save a few pennies on each item.

[Terra Nova]

Originally Posted by Terra Nova

...The right selling price is one that is fair for both buyer and seller.

Originally Posted by scgilligan

...an "asking price" on a boat is just like on a house...if my house appraised for 150....

Forget asking price. Forget house appraisal. Determine its value and how much mork it requires.

[boatman61]

A seller and buyer view from opposite ends of the spectrum..
One is looking for the max.. the other for the minimum..
Sellers View..
Invested time and money improving/maintaining the boat while he owned it.. he has expense's and purchase price during ownership on his mind which affects his costing and the asking price..

Buyers View..
Nice boat but want to pay less..

Go look at the boat.. see what its worth to YOU.. then make that offer..
A serious buyer stands out.. so does just another anal fender kicker..
Only starting offers bordering realistic will be considered for a second bid..
Many a buyer have I told to PO over the years when the 'Joke Offer' was knocked back and they returned with my bottom price in hand..
Sorry Bud... no sale.. keep your toilet paper.

[leftbrainstuff]

Originally Posted by scgilligan

No one offers asking price for anything anymore..especially boats and Craigslist items in general..sellers know this and they inflate their asking price accordingly..At least I would.
So, that being said- what would your initial offer be on a sailboat? As a percentage of asking price..also, would that change for cheaper boats? Example: if you are looking at a 500K boat you might only offer 75%, whereas if you are looking at a 4K boat, would you really offer 3? Less? Start ridiculously low and let them tell you the bottom price? With a boat that cheap are they really just looking for someone to take it rather than having to find a way to junk it..? If a broker is handling a boat under 5K, what would they be expecting?
Just curious...

Good boats will sell for close to asking price. The lowball strategy will only apply if you are the only buyer and the seller is desperate.

In 2012 we sa2 good boats sell quickly with a discount of 15%ish.

Sent from my SM-N900T using Cruisers Sailing Forum mobile app

[Lizzy Belle]

Originally Posted by scgilligan

But, conversely, I would be under the impression that an "asking price" on a boat is just like on a house..

In a way, yes.

But you're asking "I'm going to buy a house, how much should I offer?"
How would you answer that question without knowing anything about the house at all?

Some boats are priced to sell, some even underpriced and many overpriced.
There is no "x% off" formula.

This really is a "how long is a piece of string" question ...

[Terra Nova]

Originally Posted by Lizzy Belle

...There is no "x% off" formula...

Precisely!

[scgilligan]

Originally Posted by Lizzy Belle

"how long is a piece of string" question ...

Lol. I like that one.
I know there is no magic formula and each boat and seller is different. I think someone earlier said "most boats sell for 90% of asking price"..that is kind of the type of answer I was looking for. I don't want to insult someone by offering 50% of asking price or anything like that..but, likewise- even if a boat is priced fairly I'd originally offer less..human nature I guess.
Any boat that is so overpriced as to warrant a 50% reduction in price I'd probably not bid on in the first place..not the type of individual I'd want to trust when it comes to maintenance procedures on a boat..

[Lizzy Belle]

Originally Posted by scgilligan

even if a boat is priced fairly I'd originally offer less..human nature I guess.

If I'm selling my boat for a fair asking price, people offering more then a little below asking just to see if I'll go for it will get a "no, and don't bother offering more".

I know most people will just shake their heads and counter offer, but if people feel a fair price (backed up by a survey and all that jazz) is too much, then they're not looking for a boat but for a bargain. Which is fine, but I prefer to sell to people who want the boat and can afford to maintain and keep her. In returen, I want a fair price. No more (honestly, fair feels better and I like knowing my boat goes to a good home ) but no less either.

Plenty of other boats out there for the bargain hunters ...