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Old 14-12-2015, 20:18   #1
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Selling Prices

Had a question for everyone. Getting ready to make an offer on a boat, and I was wanting some advice on what to offer. The asking price is 138K and it has been on the market for 10 to 12 months. I will not be financing any of the money, Is 110K to low to start? I don't want to insult anybody Fer sure just don't want to overpay either. Thank You for any advice

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Old 14-12-2015, 20:26   #2
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Re: Selling Prices

Quote:
Originally Posted by Robbie430 View Post
Is 110K to low to start?
There is no standard "X% off" formula.

Some boats are priced more than fair. Others have a ridiculous asking price.
Some are priced to sell, others to ignore while the owner gets a reality check - and most somewhere in between.


You should base your offer on what the boat is worth (to you).
Hence, you should be able to motivate / explain your offer and that is not "cos it's x% below asking and I was told that was fair by some people on a forum" ...
It should be based on the condition of the boat (and possibly a survey).

If you're worried your offer might be offending, you're probably offering (way) less than the boat is worth.
If you're offering a fair price, the seller will not be offended (or if he is, it's not because of the offer but because he's not in touch with reality ).

How can anyone possibly say what offer is OK, without having seen the boat, or even know which one we're talking about?!
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Old 14-12-2015, 20:31   #3
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Re: Selling Prices

The boat is a 2001 Carver 396, very good condition! I just read somewhere how boats are so marked up on price to begin with, I just wanted a good starting point!

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Old 14-12-2015, 20:37   #4
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Re: Selling Prices

A good starting point is what the boat is actually worth, and make a good deal from there.
Not some non-existent formula for "x% off", no matter what "you just read somewhere".

But if you want a number anyway, I'll post one: 10%.
Based on nothing at all, since there is no standard % but at least you won't offend anyone
Might be offering way too much tho - or possibly get an amazing deal.

Depends on the boat, but you just want a number so 10% it is

Edit:
I'm on boat #2, paid 75% of the asking price. Good deal!
The one before, I paid nearly 100%. Also a good deal. Even sold it with a small profit.
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Old 14-12-2015, 23:11   #5
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Re: Selling Prices

Probably a few 2001 Carver 396's around and for sale. Do some research on the internet for broker/owner sales, also see if there is a Carver owner's site where you might find some information. Depending on where you are and where the boat is there may be a seasonal adjustment, i.e. if the seller is looking at haulout and winter storage or moorage fees and ongoing maintenance in a warmer climate. Wintertime is a buyers market particularly for an anxious seller.


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Old 14-12-2015, 23:35   #6
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Re: Selling Prices

That seems to be at the low end of asking price, but there are a good number of them for sale. Without looking into it too much I would probably start at $100k and see what the response is. With this many of these on the market it pays to be aggressive. Unless there is something about this specific boat that raises its value to you.
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Old 26-12-2015, 16:29   #7
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Re: Selling Prices

I was told by a broker that, for example a boat I was looking at with an asking price was $75,000 that 10% less is normal. But that was a broker so not sure I believe him. On this particular boat I would offer $60,000 and walk as I am not 'in love' with it.

I would start at 30% less than asking as you can always increase your offer in a few days...that is if you do not get e call accepting your offer.




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Old 26-12-2015, 17:56   #8
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Re: Selling Prices

If you are working with a broker, he can do a search to determine what similar models have recently sold for.

Make an offer; express interest, & start the negotiation.
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Old 27-12-2015, 09:31   #9
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Re: Selling Prices

I would offer 10% - 20% less than I thought it was worth and go from there. I offered far less than I thought our boat would go for. But not as a bargaining position. I liked the boat but couldn't afford more. The boat was great excepting some major warts. I got the boat for what I offered. I think that is unusual. But all brokers want you to offer 10% less than the asking price of an over-priced boat.
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Old 27-12-2015, 09:49   #10
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Re: Selling Prices

Let fair market value be your guide is what I always keep in mind:

The price that a given property or asset would fetch in the marketplace, subject to the following conditions:

1. Prospective buyers and sellers are reasonably knowledgeable about the asset; they are behaving in their own best interests and are free of undue pressure to trade. (hurting a sellers feelings should never come into play, its your $$$).

2. A reasonable time period is given for the transaction to be completed.

Given these conditions, an asset's fair market value should represent an accurate valuation or assessment of its worth.

In the final analysis - its what the boat (or for that matter, anything) is realistically worth to you.
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Old 27-12-2015, 09:54   #11
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Re: Selling Prices

One rule in Real Estate.... if you aren't a little embarrassed about your offer, it is probably too high....

Comes down to whether or not you want a deal or THIS boat. As soon as you want THIS boat, the deal is kinda whatever you are willing to pay.

When I purchased my current house, I made a list of 10 houses we could live in, and then went around with low-ball offers with no counter offer. Some were offended, but we didn't need the house, and frankly we never saw the people face to face anyways. We ended up with house #7 that had been on the market for almost a year, offering 25% below asking price with no counter offer. The sellers were actually building their dream retirement house in Carolina, and needed to sell, and were 'okay' with the offer. Lucky we did, because then the market tanked, and we were still right-side up on our house. Now we are looking to sell (and move aboard), and we have more room to negotiate because we bought right.

One thing on boats I've noticed though, folks are much more emotional about them. Understandably so. But I think you have a higher chance of 'pxssing off' the seller with a boat, so if you want THIS one, take the advice of others here and figure out a fair price based on what else has sold in that condition.

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Old 27-12-2015, 10:15   #12
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Re: Selling Prices

-How long has it been on the market?
-well known boats are worth more than oddballs.
-How many are on the market?
-are any of them selling? With a number on the market, let the broker know you are interested in a couple of them. Tell him you are offering on the one you mention first.. and give a reason like " it seems maybe a a bit cleaner, but doesnt have as much gear as the other one" etc

Without knowing the above, good and bad things condition wise etc:
I would start about 30% less.... maybe $105k (Always explain your offer, you have to SELL a bit.) Talk about the other boats for sale. Or similar boats even.
"I like the condition of this boat , but the layout on boat B is a bit to my liking etc etc."
The first counteroffer will tell you a lot.
If he comes back at $135k then you aren't going to get much off. Try for 10% if it's worth it.
Or .......tell the broker you are making an offer on the other one and wait a couple days. Keep talking. Come up with reasons the boat you want isn't worth what he's asking.
If he comes back at $120k Try $115k


The last house I bought I couldn't decide between two properties.... I told the broker one had this good and that bad. and the other had this good and that bad. He asked what it would take to make a decision, so I told him I was making an offer on one and if that didn't fly making an offer on the other! Once a seller finds that out, if he's anxious to sell at all he starts moving.
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Old 27-12-2015, 10:56   #13
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Re: Selling Prices

No, it is not too low to start.
If you are a cash buyer and the only contingencies are sea trial and survey, you are in a strong position.
You never know what is motivating the seller and you can always go up in price but you can't go down.
One of the boats that I bought some years back was priced at $125k and was actually below market value. I offered $85K cash. The broker said, "That's ridicules! That will never fly." I told him that if he din't want to write the offer I would find a broker who would.
He wrote the offer. The seller counter-offered at $87K. He raised it only $2k, presumably to save face. I accepted the counter. My point is that you never know what is motivating the seller or how motivated they are until you make the offer.
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Old 27-12-2015, 11:25   #14
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Re: Selling Prices

Another interesting situation:
When I bought my catamaran. Before returning to the PNW, I had dry stored my mono in Florida and had just quickly seen the Cat I was interested in at a brokers dock. I then went home to the PNW for the summer.


After thinking for a couple of months I decided to buy the cat based on further inspection, survey etc. I negotiated from the PNW. We settled on a price etc.


When I returned to Florida I went to look at the boat and there was another one along side of the original one I had seen. That one had different engines and was an owners version. At that point I preferred it to the one I had originally negotiated on. Long story short I renegotiated and changed boats. Anything is possible.

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