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Old 25-06-2016, 04:54   #1
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Advice on buying a used chartered boat

I am in the market for a VERY specific make/model boat. This model is in HUGE demand and almost none are available for sale in used condition.

These models range from 170k-220k depending on age/options and location.

Recently a boat has become available that has been chartered and they are asking 90K for it. That is basically 1/2 the price of a non-chartered boat!

I did some research and no matter what would require replacing (engine, rigging, sails, etc..) I would still be way ahead.

Does anybody have any advice for me before I put in an offer? Also, if its a good idea, how much should my offer be bellow their asking price?
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Old 25-06-2016, 05:03   #2
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Re: Advice on buying a used chartered boat

Sounds all a bit to good to be true and suspect the survey might find something horrible. However, good luck and if the demand is that high I am doubtful you will be able to get even more off. A full survey might help with the evidence through.

Oh and who says they are in a high demand and only that particular model? the broker

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Old 25-06-2016, 05:11   #3
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Re: Advice on buying a used chartered boat

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Originally Posted by Pete7 View Post
Sounds all a bit to good to be true and suspect the survey might find something horrible. However, good luck and if the demand is that high I am doubtful you will be able to get even more off. A full survey might help with the evidence through.

Oh and who says they are in a high demand and only that particular model? the broker

Pete
Yes, a full survey will definitely be done before money exchanges hands.

Let's assume its not "too good to be true" and the survey goes well... I have been told by the broker that any deficiencies found on the survey will be fixed before delivery so it can't really be used to reduce the price further.

How much should I offer?

The fact that only a few are for sale and overpriced in North America prove its in high demand. This is not from the broker...
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Old 25-06-2016, 09:30   #4
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Re: Advice on buying a used chartered boat

If it's such a good deal.. get 'er done. You either do it or you don't.
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Old 25-06-2016, 10:35   #5
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Re: Advice on buying a used chartered boat

I guess what I am asking is at what point does it not make sense to buy a chartered boat?

Also, how much bellow asking should I offer?
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Old 25-06-2016, 13:36   #6
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Re: Advice on buying a used chartered boat

when I was looking at the big 3, Leopard, Lagoon, Pajot.. ok 4 if you include Privilege, it came down to having a separate head for each cabin. I was looking at a cat.. and for sure didn't want 4 cabins or 5 cabins with 4 or 5 small heads, so I drew the line at cabins with individual heads. And then Leopard came out with the 3 cabin owners version in the Moorings charter fleet. Perfect. 1 large head and one small head. And you know what they say.. 1 head is good, 1 1/2 heads, even better.
So, personally, I drew the line at the number of heads. And then all the other things particular to a boat that had to be compared.
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Old 25-06-2016, 14:28   #7
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Re: Advice on buying a used chartered boat

I bought an ex-charter boat and did a circumnavigation... and still have it. Its pretty damn wonderful!

2 things: they are cheaper because people don't like the idea of an ex-charter boat
And
Lots of people with a one-owner boat have a vastly inflated opinion of the value of their boat.

My advice is to look carefully, negotiate well, survey well and GO ENJOY YOUR BOAT!





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Old 25-06-2016, 14:39   #8
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Re: Advice on buying a used chartered boat

Quote:
Originally Posted by Privleoplag View Post
when I was looking at the big 3, Leopard, Lagoon, Pajot.. ok 4 if you include Privilege, it came down to having a separate head for each cabin. I was looking at a cat.. and for sure didn't want 4 cabins or 5 cabins with 4 or 5 small heads, so I drew the line at cabins with individual heads. And then Leopard came out with the 3 cabin owners version in the Moorings charter fleet. Perfect. 1 large head and one small head. And you know what they say.. 1 head is good, 1 1/2 heads, even better.
So, personally, I drew the line at the number of heads. And then all the other things particular to a boat that had to be compared.
What does the ratio of heads to cabins have anything to do with this thread?
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Old 25-06-2016, 14:52   #9
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Re: Advice on buying a used chartered boat

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Originally Posted by epiic View Post
What does the ratio of heads to cabins have anything to do with this thread?
I was wondering the same thing
It was an interesting read though.
Curious. What kind of boat is it? PM is fine if you don't wanna tell over the thread. Also, if your worried ill swoop you, don't. Im not ready to buy for a few years. But if you wanna wait till you decide to buy this one or not, thats cool too. PM me later. I just am curious what kinda boat it is thats so desirable is all.
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Old 25-06-2016, 16:18   #10
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Re: Advice on buying a used chartered boat

[QUOTE=MarkJ;2152577]I bought an ex-charter boat and did a circumnavigation... and still have it. Its pretty damn wonderful!

2 things: they are cheaper because people don't like the idea of an ex-charter boat
And
Lots of people with a one-owner boat have a vastly inflated opinion of the value of their boat.

My advice is to look carefully, negotiate well, survey well and GO ENJOY YOUR BOAT!




Very good advice. In the end it depends on how well boat was cared for and was ongoing maintenance performed.

Some charter companies neglect maintenance near the end of term. Others (especially when owner, vs the charter company, is actually paying for the maintenance) continue to do superb maintenance up until the sale, as other option is to continue in charter (tier 2) or personal use.

The survey will confirm how good ongoing maintenance was performed.

If you find that gem at a good price, don't haggle too much as someone else may come swoop in and take it away.


A well cared for boat from charter is better than neglected 1 owner boat.
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Old 25-06-2016, 17:27   #11
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Re: Advice on buying a used chartered boat

In the numerous past threads on the question of buying a used charter boat, almost invariably, those who have done so (and I am one) speak positively whereas those who speak derisively of buying a used charter boat, are those who have never done it and have no experience in the matter. That said, you have to be objective and do your due diligence. Get the best surveyor you can, and try to find out a little bit about the boat's history.

The relevance of heads is that ex-charter boats generally have lots of heads, which are sometimes smaller, and non charter boats generally have fewer, larger ones.

My solution is to assign different heads for different purposes. If you use one for toilet use and another for showers, bingo, you have an enclosed, separate shower!!!
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Old 26-06-2016, 09:47   #12
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Re: Advice on buying a used chartered boat

Have a proffessional survey.
Demand to see the maintenance file of the charter.
Ensure the boat did not have underwater colision (this may be difficult to see but if you ask the seller I am sure that you will hearcthe truth)
There is nothing wrong with a charter boat if properly maintained but it will be much more used than privately owned and this is reflected in the pricing.
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Old 26-06-2016, 09:50   #13
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Re: Advice on buying a used chartered boat

No different than buying a rental car coming off lease. A boat is a boat, regardless of history. Used charter boats should be cheaper since they have been depreciated by the charter company, and you are not dealing with an emotional owner cringing to their beloved boat. Also probably easier to verify no outstanding liens are on the boat.

BTW for would be boat owners, a boat broker really is worth their costs. We bought a boat once that two months later was seized by the IRS . Evidently the previous owner had not paid income taxes for some years and had several millions in outstanding debts.

We simply dumped the problem in the broker's lap who sold us the boat. Well known brokerage. They repaid all our monies plus expenses. Try doing that if you had bought a boat direct from the bankrupt owner.

Many times its virtually impossible to tell whether the boat owner is a dead beat or not. Nor even if the boat is subject to a lien unless you do a lot of legal work. Buying from an established company or a brokerage firm is good insurance.
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Old 26-06-2016, 09:57   #14
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Re: Advice on buying a used chartered boat

Offer 20 percent below asking price
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Old 26-06-2016, 10:07   #15
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Re: Advice on buying a used chartered boat

Beware anyone online asking about specifics of the boat. Advertising what a great deal it is is throwing chum in the water. Beware a surveyor with ties to the listing Broker or charter company. Self survey as much as possible. Look for an online group of owners of that brand. You can search for known issues online without starting threads. This is a used boat & all the guidelines for buying a used boat apply.
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