Boat listing price vs offer vs actual sale price

[frantzjoe]

Seems you are set on being in Ventura. Our boat is at Ventura Isle/Safe Harbor Marina.
It’s for sale at the high end of your budget.
It’s a 1983 Spindrift 46. Similar to Kelly Peterson 46 but perhaps a bit better finished.
Center cockpit, aft cabin with en-suite head, forward cabin with en-suite head. Pilot birth starboard side. Ford Lehman 80 hp amidships.
Usual electronics with Raymarine Dihital color radsr, AIS, etc.
Not a fixer upper.
$114,000.
We have it in a 50 foot slip because with dinghy davits, etc. that’s the smallest it will fit. Quite sure slip is transferable at about $975/mo.
Bigger than you want but an amazing boat we have owned for 21 years.

[Sailing Hanse37]

Originally Posted by gonesail

from my experience selling price is almost always less than asking price. the key word is negotiations. if a seller is unwilling to negotiate then move on. there is always another boat. on the other hand find something you like and don't compromise. if you are going to live aboard maybe the boat doesn't need to be ready to cruise. good idea to line up a slip. also be sure to check on insurance and get a good survey. you may want to wait until your house sells

Well here in Europ the situation may be different: the second hand market is mostly empty. If a decent boat goes for sale at a normal price, it will generally be sold within 1 week without negotiation on the price. If i were to sell our boat: a 2011 beneteau 43 i would price it at 140k€. And no negotiations on the price, it will be sold anyway. In our harbour friends put their boat on sale and it was sold within 30 minutes, without visit

[ctconyplex]

As others have said, whether it's a boat, house, airplane, car-- it's worth what that particular thing is worth on the market. The asking price isn't really relevant past that if it's below what it's actually worth, you wouldn't want to offer more

I usually make a list of similar/same that are on the market and see which ones sell in a week or two and which don't. That'll be a reasonably good indicator of market value.

[Happ]

Using a Buyer’s broker can have both a positive and a negative effect. On the positive you can get advice on what the comps are. The broker can also chat with the selling broker to get a feel for the urgency of the seller. Keep in mind they both want to get the deal done. On the negative side a buying broker wants to get you to buy real fast. They don’t want to waste their time with someone who may be kicking tires. They will also try to steer you to one of their listings. You have to read the broker and sense what is the way they will operate. A quick example about 5 years ago I saw a listing and ended up making an offer. After several rounds of back and forth we struck a deal. While I was making arrangements for haul out and survey my broker mentioned the Heat Exchanger had a pin hole leak. He said they were going to spot well the area. I quickly checked the price of a new Heat Exchanger and it was only $225. My antenna went straight up. I then realized I hadn’t received a signed contract. When I asked for it I was told the Owner was out of the country and would sign it when he got back! I then asked to see the maintenance log. The broker replied oh there was a bit of engine work done 300 hours ago and there hadn’t been a problem since. My next call was to the owner of the Brokerage company demanding my deposit back. The check was in the mail the next day. Apparently the Broker was talked to in a very stern way. I learned the boat sold a year later at 15% less than are agreed price! My take is the Broker was now divulging everything.

If I had used a buying broker in the first place things would have been very different.

[MJH]

Originally Posted by LiveAboardTom

New to the forum and after searching I did not find a thread (but have to think it is because I am not searching the forum correctly).

I am looking to buy a live aboard boat in CA within the next month or so. Selling a house and already have approval for a live-aboard slip. I'm going to end up paying for the slip before I have the boat but given how hard it is to get a legal liveaboard in So Cal nowadays that is fine.

I have seen maybe twenty boats. Missed out on one (it was the second boat I saw and by the time I saw enough to realize it was a good boat at a decent price it was already under offer), and have a far better idea now of what I want. Something 38 to 40 ft with a decent aft cabin / bunk but not a quarter berth (unless I see one I love). I am single and the slip limits me to 40 ft.

My question is: what sort of offer do people make compared to listing price? Every broker says their boats sell for full asking and that other brokers boats are overpriced, but I figure there has to be some wiggle room.

At the high end of the range is maybe 80,000 to $120,000 for a newer turnkey and in my day dreams my house sells for asking and I can afford to splurge a bit.

The other end of the scale is $40,000 to $60,000. Not looking for a project boat. I saw some boats that were just ....

In the $40,000 to $60,000 range I have seen a few decent boats that may need electronics upgraded, or sails, or something else but are otherwise fairly sound and ready to sail.

So, on a $100,000 boat can I offer $60,000 or would that get an automatic no? and I know there are variables to any offer but when someone lists a boat how much room do you think they have in their price?

Thanks in advance for any insights and sorry if I am just missing a thread that talks about this. If so send me the link and I will follow gladly.

Some boat makes are easier to compare than others due to their large production numbers; Catalina, Benenteau, etc. The low production ones not so much. A company selling 1,000 models is considered a success but many nice boats never get close to that production rate. Your more or less looking to buy one of the following: peach, plum, nectarine, apple, grape, banana, etc. It all depends on your taste and budget. Just stay away from the rotten ones.

Good luck.

[geoleo]

Good live-- aboards usualy are not good sail --ing boats--- usually in your size range. And vice versa so you need a compromise. As for offers- always start low and say its for cash and include a time limit for acceptence , For example. "I offer $56.500 cash for your boat--must be accepted within 4 days as I am interested at other boats." If they accept then start the sea trial survey process-- never give a deposit as if you change mind or find something bad its nearly impossible to get back and keeps you from alternative boatys.

[geoleo]

Originally Posted by LiveAboardTom

New to the forum and after searching I did not find a thread (but have to think it is because I am not searching the forum correctly).

I am looking to buy a live aboard boat in CA within the next month or so. Selling a house and already have approval for a live-aboard slip. I'm going to end up paying for the slip before I have the boat but given how hard it is to get a legal liveaboard in So Cal nowadays that is fine.

I have seen maybe twenty boats. Missed out on one (it was the second boat I saw and by the time I saw enough to realize it was a good boat at a decent price it was already under offer), and have a far better idea now of what I want. Something 38 to 40 ft with a decent aft cabin / bunk but not a quarter berth (unless I see one I love). I am single and the slip limits me to 40 ft.

My question is: what sort of offer do people make compared to listing price? Every broker says their boats sell for full asking and that other brokers boats are overpriced, but I figure there has to be some wiggle room.

At the high end of the range is maybe 80,000 to $120,000 for a newer turnkey and in my day dreams my house sells for asking and I can afford to splurge a bit.

The other end of the scale is $40,000 to $60,000. Not looking for a project boat. I saw some boats that were just ....

In the $40,000 to $60,000 range I have seen a few decent boats that may need electronics upgraded, or sails, or something else but are otherwise fairly sound and ready to sail.

So, on a $100,000 boat can I offer $60,000 or would that get an automatic no? and I know there are variables to any offer but when someone lists a boat how much room do you think they have in their price?

Thanks in advance for any insights and sorry if I am just missing a thread that talks about this. If so send me the link and I will follow gladly.

There is a Sabre 38 MKII on sailboatlistings.com in San Diego asking 55K

[Cheechako]

It depends on the popularity of the particular boat/model, and how realistic the buyers asking price is.
You need to familiarize yourself with the market for that particular boat. Often searching for the boat model will expose original asking prices and months later how it has moved down on some boats.
Length of time on the market makes a difference also.
For most older cruising style boats that have been listed quite a while, I might start at 30-35% off asking price. But justify it! to the middle man. 'Sell' it, even if you are stretching thing s a bit. (the xxx sail looks like beyond useful life, the anchor chain is a ball of rust, there seems to be a slight oil leak under the engine, do you know the blister history? the aft head is froze up" etc)
You can learn some things from that offer.
If a buyer comes back with a counteroffer at 95-97% of asking, you are unlikely to get below maybe 90% of asking.... or even that.
If a buyer leaps back at 80% of asking, you may have a negotiation that can bear a good price.

But a super popular boat at a good price is different. You need to get it done.
But in the end, it's all about understanding what the right boat is and the condition/value of the boat you are looking at and what it's worth to you.

Brokers mis lead sellers by stating over valued prices to get the listing. I think to some extent they are all into that so much the group as a whole don't really even know they are doing it.

When I sold my Hans Christian 38 there were 3 or 4 on the market nationwide. They were all listed at $135-140k. My particular one was loaded and had many upgrades. 1.5 years after listing at $135k, I accepted a sale at $90k as the boat was in Florida and I was in Washington!

I learned the reason you need a good price by paying too much once. When it came to selling just 1.5 years later, after I did 50K in maintenance it should have had, I couldn't get what I paid for it and lost the large resale commission $ also. Basically losing $70k. (I HAD to have a Catamaran!)

[merrydolphin]

A boat is worth exactly what someone is willing to pay for it.

Traditionally, boats have been listed for at least 10% more than expected.
I bought a KP 44 for 92k. It was listed for 107k. Bought a Cal 46 for 72K was listed for 99K. When I sold 7 yrs later I listed it for 125K, sold it for 90K (which is about what I expected). Today with this unusual economy? I would still shoot for offering less that list. But use good judgement on that.
The other factor in shopping is to be willing to travel for the best deals. They are not going to be in your back yard and LA is an expensive area.

Also, Latitude 38 mag is a good source for boats. If you do find a good boat in the SFO bay/delta area, it’s a pretty easy down wind trip to S. Ca.

[lo2jones]

I agree with 80% of the replies. Find a broker who will send you the raw info from Boatwizard. Asking $60k for a boat that is valued ~ $100k is risky. The owner may be pissed and tell the broker to not communicate with you. The average price difference between asking and selling is ~ 8% to 12% once in a while. Larger differences are when the boat was grossly overpriced and someone finally comes to their senses or dies, as in one of the scenarios. “Never offer a higher price than you’d be happy paying for the boat.”

[Idaho]

I asked a broker this exact question.

The answer was offer 70% of the asking price.

I bought a sailboat 2 months ago.
The ask was $59,900.
I offered $42,000. (70.1%)
We settled at $45,000. (75.1%)

[Rumrace]

MicHughV I think you’re bang on. The globe is in a fight to avoid recession so manufactures are lowering production rates. Folks with nice boats whom might trade up are holding off for a year to look see on a more stable future.
You have to avoid harsh realities on the forum. Heaven forbid there is a political connotation from folks who take everything political. Could vary from an opinion in authority like...
I just read a thread on a forum giving financial advise in these trying times and threaten to ban anyone who gave an financial advise and close the thread. Narcissism is running wild so opinions on future markers is a poker hand. Next season could bring a large lot on the market full of complex liens.
Our friend in the thread bought a boat at 75% asking. He’s on the water happy. Nothing else counts.

[Leilani1]

I can only suggest on this topic to look, look, look. That way you will know a good deal when you see one and can act. A car salesman friend told me some years ago when I asked him how do I know I am getting a good deal. His answer was "When you walk away thinking you got a good deal, that was a good deal." You'll know.

[sailjumanji]

Our previous catamaran sold in early 2018 at $178k asking price, about a month after listing, and had another person in line to buy it if the first person backed out. (Was a day late!) It was priced above average, because condition was well above average (motors and electronics replaced, good sails, hull shined and bottom paint black). The 68-page survey came back with one issue, that we adjusted price $2k.

Your "percent discount to asking price" would have just been wasting YOUR time. It's all about condition. I wouldn't make an offer on a boat without knowing comp's. And I don't know how to do that without having a buyer's agent to get them. (Maybe someone can enlighten me otherwise.)

[Rumrace]

You’re a perfect dreamy like boat seller sailjumanji. Proud to honestly present you boat with personal knowledge of it condition. That’s rare stuff and how I bought my boat from a broker. Needs minor work fuel treatment water systems. Was discounted to reflect the parts needed and labour. The air conditioning part crapped out after a year. $450.00 fix. Ill likely buy my next boat from the same broker. I asked him if it was the best price I could expect. He just said I’ll hunt for something less. I didn’t have an argument to offer.