Documentation and offer to buy

[gallatin1988]

Hi All,

If you were selling a boat, would you take low offer more seriously if the potential buyer (me in this case) included in the offer documentation as why the is what it is?

In this case, by documentation, I mean:
1) currently yachtworld listing
2) soldboat.com sales history
3) potential survey findings
4) refit costs (ie new rigging and/or sail, etc) assuming I don't believe that the current asking price reflects the necessary refitting
5) etc

I might a low offer on the boat in question which might be below the seller's envisioned acceptable price but I want him to take it seriously.

Would any/all of the above have an affect you as seller?

Am I overthinking this? (Something I'm very prone to doing [emoji16][emoji3061])

[Calif.Ted]

Probably not

[SVHarmonie]

Originally Posted by gallatin1988

Hi All,

If you were selling a boat, would you take low offer more seriously if the potential buyer (me in this case) included in the offer documentation as why the is what it is?

In this case, by documentation, I mean:
1) currently yachtworld listing
2) soldboat.com sales history
3) potential survey findings
4) refit costs (ie new rigging and/or sail, etc) assuming I don't believe that the current asking price reflects the necessary refitting
5) etc

I might a low offer on the boat in question which might be below the seller's envisioned acceptable price but I want him to take it seriously.

Would any/all of the above have an affect you as seller?

Am I overthinking this? (Something I'm very prone to doing [emoji16][emoji3061])

If I was selling a boat and you came to me with an offer saying you had discounted my price with this list of considerations, I’d certainly consider it. After all, you have now taken all those off the table for a survey finding.

[gallatin1988]

Also, just to be clear, I would not want present my offer in such a way as to suggest I'm not open to negotiation.

[CarlF]

It probably depends on the boat and the seller.

It wouldn't make a bit of difference one way or the other for me. I know my boat and the market better than you.

I've never sold a boat for less than 80% of asking. And I give a polite "thanks but out of my ballpark" to any offer lower than 70%.

The "low offer" gambit works on boats that need a lot of work or lower quality builders. I've never owned one of these boats but I doubt your research makes a big difference there either. The seller is going to sell when he loses hope.

As you might imagine, selling a boat can take a lot of time better spent doing other things. So the thing I look for most is whether the potential buyer looks like they'll waste a lot of time with endless negotiation or indecision. I've had a few buyers who just couldn't pull the trigger. It wasn't price - but they kept coming up with something new to worry about.

It also helps if you have a logical reason for being interested . e.g. "I'm selling my BigWave 36 because my wife found it a little too small below decks and we now want to spend the winter in the Bahamas where we need shallow draft. I've always admired the Windy 44 and yours seems perfect for us"

[gallatin1988]

Originally Posted by CarlF

It probably depends on the boat and the seller.

i've never sold a boat for less than 80% of asking. And I give a polite "thanks but out of my ballpark" to any offer lower than 70%.

That might be because your starting price was more realistic.

I think in this case a price in the 60% - 70% of the original asking price is a realistic offer.
ATM I want to make an offer. I just want to make sure I do what I can to ensure its not rejected out of hand.

[NorthernMac]

That’s not how ya low ball!

First hit the LOW, friendly peel them off the ceiling, ask them what they can do, see where they come back

“I agree the boat in the add is totally worth that, she’s beautiful, but XYZ snags are going to tax 123 time to fix and 321 bucks, lets factor that in, 1234 and I call the bank right now”


That’s a off the cuff

[denverd0n]

Originally Posted by gallatin1988

I might a low offer on the boat in question which might be below the seller's envisioned acceptable price but I want him to take it seriously.

If he has priced his boat reasonably, it is unlikely that he would consider (or you would be making) a very low offer. If he has priced his boat unrealistically, it is because he doesn't understand the market, or doesn't really want to sell the boat, or is completely delusional about what the boat is really worth. In this case, he is already behaving irrationally, so a low offer is most likely just going to anger him.

In the past, when boat shopping, I have usually just passed on by the unrealistically over-priced boats. The owners are usually a waste of time to try to negotiate seriously with.

That said, one of the best deals I ever got was a very low offer on a boat that I knew had been offered for sale -- off and on -- for more than five years. I figured that, by then, he might realize that he is not going to sell the boat if he doesn't listen to low-ball offers. He was getting desperate. He listened. We agreed on a price that was about half what he was asking (which I considered fair). He was not happy, grumbled about it the whole time, but he wanted the boat gone, and it was gone.

[Shrew]

I would certainly consider it. Whether I would accept it is another matter entirely.

[Shrew]

Originally Posted by denverd0n

If he has priced his boat reasonably, it is unlikely that he would consider (or you would be making) a very low offer. If he has priced his boat unrealistically, it is because he doesn't understand the market, or doesn't really want to sell the boat, or is completely delusional about what the boat is really worth. In this case, he is already behaving irrationally, so a low offer is most likely just going to anger him.

^^ This is closer to reality in MANY cases.

[NorthernMac]

I’ve had some pretty good luck buying overpriced stuff that was on the market for a bit, just take a little negotiating.

They listed it because they would prefer money.
You have money and would prefer said object.

[Bill O]

Originally Posted by gallatin1988

Hi All,

If you were selling a boat, would you take low offer more seriously if the potential buyer (me in this case) included in the offer documentation as why the is what it is?

In this case, by documentation, I mean:
1) currently yachtworld listing
2) soldboat.com sales history
3) potential survey findings
4) refit costs (ie new rigging and/or sail, etc) assuming I don't believe that the current asking price reflects the necessary refitting
5) etc

I might a low offer on the boat in question which might be below the seller's envisioned acceptable price but I want him to take it seriously.

Would any/all of the above have an affect you as seller?

Am I overthinking this? (Something I'm very prone to doing [emoji16][emoji3061])

If your #1 above means its currently list on YW, then you are correct it is overpriced from the get go by a broker. Typically would say 20-30% lower than asking is a realistic price. If it's been on the market for a while (a couple of years for some), then you have more wiggle room as the owner willing to negotiate (wants it sold).
If it's been on the market for awhile, what is wrong with it? Is it something major (needs new motor or gen), water in the deck/hull core or has it deteriorated while sitting while attempting to be sold? Larger boats (>50') tend to sit on the market much longer.

Do you have your own broker (a buyer's broker)? Finding a good one is an experience in itself but useful and it doesn't cost you anything.The sellers broker is your friend and he's working for the seller not you.
Go see the boat and look it over well (take notes). Review any paper work the owner has available. Usually good documentation of work/upgrades on the boat means it was taken care of fairly well. When reviewed the work done are there any persistent/reoccurring problems that may become yours if you purchase the boat?

Eventually, for the boat in question, you will need to come to some sort of price that works for you (mentally based on possible upgrades) as a foundation and the owner agree with such a price. The major deficiencies found in your survey are always negotiable. You should be present during the survey to talk to the surveyor and point out things you that you have seen during your original review of the vessel. Don't expect the owner to repair everything on the list, but the big ticket items are always worth a reduction of the agreed upon base price.

You should have upfront in your written agreement that if there is anything you don't like during the process (survey, sea trial, deductions, etc.) you can walk away and not loose your deposit. It's a learning experience buying a boat and you will want to feel comfortable since it is a good chunk of change you are laying down.

Depending on the boat there could be lots more to consider.

Good luck on your upcoming purchase. (and we want to see pics of your new toy!!!!)

[sail sfbay]

Originally Posted by gallatin1988

............If you were selling a boat, would you take low offer more seriously if the potential buyer (me in this case) included in the offer documentation as why the is what it is?......Would any/all of the above have an affect you as seller?....

Sounds like you want to make an offer to a private seller and not through a broker. I have sold many boats and priced them according to the market and boat condition so the above would not affect me as seller. I ended up selling them for 80 - 100% of my asking price. Any lower then I would counter the offer. If the buyer did not accept that then I would wait for the next buyer.

[vanderd]

Every boat sale is unique and a lot depends on the market and time of year. My son bought a boat in NJ in October for a really attractive price because the owner was faced with storage, winterizing an recommissioning. I also lost out on a boat b/c the market for it was “hot” and a better offer came along. A broker friend once said it’s not what comparable boats are listed for, it’s what they SOLD for. So if the boat your considering is overpriced the owner will eventually come around. No today is often yes as time goes by.

[Djarraluda]

I did similar with my current boat. Scheduled the recent sales and current listings of similar boats, to define the real market range, then listed my items noted during inspection and made the offer subject to survey.
He reluctantly accepted, then post survey I listed items further noted including if there was labour charge and deleting it where I would do that myself.
Again, a reluctant acceptance by owner and I paid the money.
Of course, further issues and costs over 18 months blew my budget further but, .... I am happy. PO walked off the dock 20 min before I got there for collection and has not responded to my emails since. A bit of a dummy spit? Probably because I ‘collected’ lots of my inventory that I had bought off his new boat, 4 down the dock. TV, inflatable, jack stays, outboard fuel tank, life jackets etc. He had even ‘installed’ the TV on the new boat. By then, the agent was on my side and assisted me.

So yes, I would be open and transparent, document my logic and discount the obvious areas which I would just fix myself. A fair balance! Just don’t automatically expect the PO to jump for joy.
Roger