Boat Pricing (How Much Should a Boat Really Cost?)

[SkiprJohn]

Ex-Calif nailed it.

[CarlF]

another +1 for ex-calif but I would add:

Don't fall into the trap of buying the $10,000 cheaper boat only to spend $50,000 more in the first year on repairs and improvements. It's a common story

One example. A boat with 2 year old sails will typically not sell for a higher price than one with 12 year old sails. But most new owners will decide to replace the old sails during the first year - a $5000+ expense.

[Cheechako]

Originally Posted by CarlF

another +1 for ex-calif but I would add:

Don't fall into the trap of buying the $10,000 cheaper boat only to spend $50,000 more in the first year on repairs and improvements. It's a common story

One example. A boat with 2 year old sails will typically not sell for a higher price than one with 12 year old sails. But most new owners will decide to replace the old sails during the first year - a $5000+ expense.

Yep. Take NADA with a huge grain of salt also... I suspect it's more of a taxing tool than anything....

[Ex-Calif]

Originally Posted by CarlF

another +1 for ex-calif but I would add:

Don't fall into the trap of buying the $10,000 cheaper boat only to spend $50,000 more in the first year on repairs and improvements. It's a common story

One example. A boat with 2 year old sails will typically not sell for a higher price than one with 12 year old sails. But most new owners will decide to replace the old sails during the first year - a $5000+ expense.

So if the basic year and model of the boat cannot be used - And I believe it cannot, there needs to be a different strategy.

So here is a different thought -

The real wild card is the state of repair. The state of repair can put the boat at the top of the price range or make the boat valueless.

And in general if one does not want a "project boat" then one selects a boat where the repairs are not necessarily cheap but are by nature necessarily quick.

Hull and deck repairs are complicated and take a lot of time
Interior rebuilds take a lot of time
Rewiring can take a lot of time

Replacing sails and standing rigging can be quick
Replacing electronics and batteries can be quick
Replacing the engine can be quick or can be slow if it is a rare engine

I think one can categorize the boat in 3 ways

A list of stuff to fix by cost
Relisted by time
Relisted by do-it-yourself potential which may lower cost and increase time.

So with this theory I would make a list of boats that meet my criteria for liveability and intended cruising. Then I would eliminate boats with structural repair needs as I don't want a 2 year project boat.

Then I would negotiate a price that considers the repairs and upgrades I need to make the boat work for me. Many sellers won't get this and won't come off their price. This method can also make a lot of "walk aboard" boats not fit my criteria - the difference of opinion between the seller and me will make setting a deal problematic.

The abatement there is be prepared to walk away. If one gets stuck on, "I must have a "Banana 41" and no other boat will do", then one is working with a very small population of boats and one may look for a long time.

[BandB]

Originally Posted by Ex-Calif

The abatement there is be prepared to walk away.

Always be prepared to walk away from any negotiation on any item. If you don't think you can, then get someone else to negotiate for you.

[Stu Jackson]

Dan's right. I would add: get to know the boats you are looking at. In many cases, Boat A may have MUCH BETTER ACCESS to systems and distribution (i.e., wiring, plumbing, fuel filters, even the disptick!) than Boat B. So, whenever you try to fix something, Boat B could be a nightmare!

[Dave22q]

the way I did it was first find a boat I liked and then research what others were asking via the net. worked well for me. comparing across age, size and brand is really tough. not spending time with a broker would be wrong.