Asking vs Selling Price for Ex-Charter Boats ?

[swisscraft]

Hi,
short question: Has someone experience with the asking vs. selling price for ex charter boats? (Moorings/Sunsail?) Is this the same game as with private boats or are this companies more likely to ask for the real prices...?

Thanks Marco

[eyschulman]

In buying and selling there is your price and their price and a negotiation inbetween. Research the type of boat and what they sell for (brokers can find out sales price of sold boats) then make an offer and go from there-If they take your first offer it was not low enough. This is a buyers market all kind of used boats around. The advertised prices may stay high but when they have to sell a low bid can buy.

[nautical62]

I think it's much the same as with any other brokered boat, except that the price ranges tend to be tighter. The fact that there are so many boats of the same model, of the same age, with the same outfitting, with about the same use, all for sale in the same location creates more consistency in terms of both asking and selling prices.

This of course may vary a bit from model to model and depending on location.

I have a boat coming out of the program in just under a year. When I asked the broker what my model boats were actually selling for his reply was upper 60s. I've seen them listed for 70-75.

[SailPenelope]

When I sold my boat (not charter), my broker told me to expect to get about 80% of asking price. Of course, the economy has slipped since then, but that gives you an idea......

[compassrose]

I live in Tortola where there are MANY ex charter boats being sold by brokers. In January I sold my Morgan 505 through a local broker. This boat was not ex charter. He explained to me that the discount on used yachts began at 15% in the BVI.

I replaced the Morgan with a Hinckley B 40 purchased through Hinckley brokerage. I was told before an offer was made that the discount on smaller Hinckleys was 15% and 30% on the larger ones.

Hope this helps for what it's worth.

Ed

[Mark Zarley]

You cannot easly retreat from an offer , but you can easly raise . Start way lower than than your broker recommends ( he is on commission) . Ours called our initial offer "an insult" but we got the boat.

[camtep]

Originally Posted by compassrose

I live in Tortola where there are MANY ex charter boats being sold by brokers. In January I sold my Morgan 505 through a local broker. This boat was not ex charter. He explained to me that the discount on used yachts began at 15% in the BVI.

I replaced the Morgan with a Hinckley B 40 purchased through Hinckley brokerage. I was told before an offer was made that the discount on smaller Hinckleys was 15% and 30% on the larger ones.

Hope this helps for what it's worth.

Ed

B40. Nice boat. Mark III ?

[gonesail]

from my experience the good boats are priced by historical selling data .. making a low ball offer is just that: an insult. most of the sellers will walk away from a deal if there are no serious buyers.

[swagman]

The right price is what you want it to be and you just need to think about that.

In our case (just sold boat) we had it parked overseas and knew we had to have an very attractive price to simply get buyers to travel and see it. Logic being that if they then came - they'd likely buy.

So we instructed our broker on what to advertise it for - and told him to tell buyers we would not have any room to move lower.

It worked for us.

In regards to what is the right price range - well I would be suprised if the brokerage scene in the USA is not as well organised as in here the EU.

Over here all brokers can access sites showing not just what boats were advertised for, but what they actually sold for. They will share this info with a vendor and one sets ones price accordingly.

In our recent sales process we found 6 similar aged models sold in past 6 months, and knowing ours was better specified than most, set our price 10% above that actual sold price average.

The buyer turned up after 10 weeks of advertising, offered 10% less than we asked, and as we want to buy another boat asap seems we got the deal that suited us both. If I had not had the other boats in my sights, I may not have accepted the 90% price.

So just remember vendors and buyers might have their own agendas, making any fixed xx% off advice useless.

And finally (this comes from a career in both sales and buying) remember that NO OFFER is an insult. It is ALWAYS a starting point.

Good luck
JOHN