Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 08-12-2013, 07:48   #31
Registered User
 
stillbuilding's Avatar

Join Date: Jan 2008
Location: Hong Kong
Boat: Custom Freya 20m
Posts: 961
My father bought and sold numerous boats. Always made a profit. His principle was work out the correct price and offer 1/3 less. Be prepared to walk away. For him it was just business. He would approve of your 80% rule.
__________________

__________________
stillbuilding is offline   Reply With Quote
Old 08-12-2013, 07:50   #32
Registered User
 
stillbuilding's Avatar

Join Date: Jan 2008
Location: Hong Kong
Boat: Custom Freya 20m
Posts: 961
70%. Bloody I-phones.

Have to know your market though.
__________________

__________________
stillbuilding is offline   Reply With Quote
Old 08-12-2013, 07:53   #33
Registered User

Join Date: Sep 2012
Posts: 4,949
Re: The 70% Rule

No question, its all about homework. I have sold several boats over the years and I think the largest discount was less than 20% with most of them selling around 10% of asking. Just make sure you know whats happening in the local market and price it right. There are always some guys that are wanting to steal your boat but if its really nicely kept and maintained and your price is proper for the market it will sell. Anybody that shops for a used boat knows how many dogs they have to look at before they run into a cream puff. If you throw a 70% offer at an owner who has a real nice boat and its priced right they usually don't have the time of day for you.
__________________
robert sailor is online now   Reply With Quote
Old 08-12-2013, 08:03   #34
Moderator
 
a64pilot's Avatar

Cruisers Forum Supporter

Join Date: Oct 2013
Location: Albany Ga.
Boat: Island Packet 38
Posts: 17,055
Right now, I'm a buyer, or at least a looker anyway. What astonishes me is the vast majority of boats I'm looking at look almost abandoned. They are filthy, covered in bird droppings, closed up and stink. I don't even think the holding tanks are emptied. You look at houses for sale, and usually everything is immaculate, they have had the interior decorator in, have the potpourri on the stove etc. And before anyone says anything, I'm not looking at 3 yr old Oysters and Island Packets, I have been looking at ten to fifteen yr old boats usually in the 200 to 300 thousand price range, so I'm not looking at older cheap boats. Are sellers discouraged when or if they find out the boat isn't going to bring them a profit, most likely they are going to take quite a loss? Is that it, or is this a boat thing?
__________________
a64pilot is offline   Reply With Quote
Old 08-12-2013, 08:04   #35
Senior Cruiser

Cruisers Forum Supporter

Join Date: Jul 2005
Boat: Outbound 44
Posts: 4,583
Re: The 70% Rule

Quote:
Originally Posted by Snore View Post
My boat is currently on the market. I priced it below other T-33's. If a real buyer offered me 70% he would be at 50% of the other guys prices. And I would reject their offer and not sell to them as they would probably be a PITA to deal with.

A real and competent buyer surveys the market and compares specific examples of the same model to develop a real offer.

Respectfully- people who don't want to do their homework offer 70%.
Are you trying to get your boat sold, or have a relationship with the potential purchaser? It isn't a personal snub when someone makes an offer you consider low. It is just a starting point. The potential buyer does not have the same info you have on the boat, or on you. They have already been told what a great deal so many boats are, only find big pitfalls. An offer is just that. It takes about 5 minutes effort to respond respectfully and keep the process going. It doesn't require a counter offer. Something as simple as ""That's a quite a bit lower than I'm willing to entertain, can you bring it up some so we can talk?" I don't think you can judge how much a PITA a buyer will be by the amount of his initial offer -- just not related in my thoughts.
__________________
Paul L
http://svjeorgia.blogspot.com
Paul L is online now   Reply With Quote
Old 08-12-2013, 08:19   #36
CF Adviser

Cruisers Forum Supporter

Join Date: Aug 2009
Boat: Custom Van De Stadt 47 Samoa
Posts: 3,750
Re: The 70% Rule

If anyone offers me 70% . . . . I just tell them "no".

They can come back with a reasonable offer if they want. But I am not wasting my time trying to talk a 70% up.
__________________
estarzinger is offline   Reply With Quote
Old 08-12-2013, 08:28   #37
Senior Cruiser

Cruisers Forum Supporter

Join Date: Jul 2005
Boat: Outbound 44
Posts: 4,583
Re: The 70% Rule

Quote:
Originally Posted by estarzinger View Post
If anyone offers me 70% . . . . I just tell them "no".

They can come back with a reasonable offer if they want. But I am not wasting my time trying to talk a 70% up.
That's fine, it is at least a response and offer to come back with another offer. So, in a way, you are still negotiating. Some here seem to think the buyer is some low-life idiot because he started the negotiating with 30% off. Are the sellers who started the listing 30% high low-lifes? I don't think so. It isn't personal, its just a business deal on a luxury item.

Clearly a willing buyer and willing seller are what makes the boat price.Not what a seller lists for. Lots of folks put their boat on the market, only to withdraw it when they can't get the price. That's just testing the market.
__________________
Paul L
http://svjeorgia.blogspot.com
Paul L is online now   Reply With Quote
Old 08-12-2013, 08:29   #38
Writing Full-Time Since 2014
 
thinwater's Avatar

Join Date: Nov 2008
Location: Deale, MD
Boat: PDQ Altair, 32/34
Posts: 4,339
Re: The 70% Rule

I sold my first 2 boat using the 100% rule and the second using the 90% rule. Both sold within weeks. I figure this one, at some point in the future, will sell with that sort of pricing.

a. The boats were in very good condition, well prepped to sell with all minor problems fixed and perfect sea trails. Perhaps a dirty boat with problems belongs to an unrealistic owner who has priced his boat the same as another that is prepared.

b. I was realistic in my pricing. I'm not going to drive off interested buyers with a non-sense price. That's just a silly dance.

Offer me 70% and expect a polite goodby. Offer me 90-100% and I will do everything I can to explain her systems and answer the phone when you have a problem to diagnose a month later.
__________________
Gear Testing--Engineering--Sailing

Writing full-time since 2014.
Bookstore:http://sail-delmarva.blogspot.com/20...ook-store.html
thinwater is offline   Reply With Quote
Old 08-12-2013, 11:10   #39
Registered User
 
denverd0n's Avatar

Join Date: Jun 2008
Location: Tampa, FL
Posts: 3,953
Images: 6
Re: The 70% Rule

Quote:
Originally Posted by Paul L View Post
It isn't personal, its just a business deal on a luxury item.
Yep. Always amazes me how very personal some people DO try to make it. It's just a negotiation. Getting honestly offended by anything to do with a negotiation is just silly and pointless.

(Though I will admit that there have been times when I have feigned a degree of offense, as a negotiating tactic.)
__________________
denverd0n is offline   Reply With Quote
Old 08-12-2013, 11:35   #40
Senior Cruiser
 
Cheechako's Avatar

Cruisers Forum Supporter

Join Date: Aug 2006
Location: Skagit City, WA
Posts: 19,365
Re: The 70% Rule

Most "proud" sellers start too high. Their reality comes about a year later..... Occassionally they have a superb example of a super desireable design of which there are few examples for sale, ...priced right they get it!
__________________
"I spent most of my money on Booze, Broads and Boats. The rest I wasted" - Elmore Leonard











Cheechako is offline   Reply With Quote
Old 10-12-2013, 11:10   #41
Registered User
 
Just BS's Avatar

Join Date: Jan 2011
Posts: 37
This year alone, I've sold a boat, a dune buggy and a house. I also have a $25K horse for sale (we're downsizing). All of them were/are under market value and ready to sell because I wanted to sell them quickly and figured the lower price would get more looks. The boat & buggy sold to the first person to come see them at full asking price, which is what I calculated was the final selling price based on similar vehicles asking price. The home got into a bidding war and sold for over asking price and more than the appraisal price but the buyer had enough cash in the deal it still sold. The horse was put on the market last week and the first potential buyer is flying in from two thousand miles away this Friday, so I am optomistic it will sell as well. My point is that if anything is priced well, real buyers will arrive with cash versus shoppers that are just looking.
__________________
Just BS is offline   Reply With Quote
Old 10-12-2013, 11:20   #42
Registered User
 
Capt Phil's Avatar

Join Date: Jun 2010
Location: Stateline NV
Boat: Prior boats: Transpac 49; DeFever 54
Posts: 2,749
Thumbs up Re: The 70% Rule

Quote:
Originally Posted by ozsailer View Post
Hello all,
Having just listed our boat for sale I can offer some insight as to the price we are asking. Our boat is a 1982 38ft centre cockpit. It is in good condition with many extra's and ready to go offshore straight away. Boat has always been well maintained. I looked at comparative boats which I believe the price was well over the current market here in Australia. I chose not to use a broker as taking 10% off the final purchase price can really hamper the asking price and gives the seller a little more room to negotiate. Its not that we have to sell our boat but having seen to many boats not sell I believe we have priced out boat very competitively but leaving a bit of lee room for a offer. If someone were to offer me 70% of its value then they are more then welcome to find a similar boat for anywhere near the asking price. Yes a boat is only worth what someone is prepared to pay but its has to be a fair offer IMO particularly when you are not desperate to sell.
Really good advice!... just did the same as we are downsizing and had no trouble at all selling quality stuff. Phil
__________________
Capt Phil is offline   Reply With Quote
Old 10-12-2013, 12:22   #43
Registered User

Join Date: May 2012
Location: Western Wisconsin
Boat: O’Day Daysailer II, 17'
Posts: 572
Re: The 70% Rule

And, there are some poorly designed boats needing a lot of work where the owner should pay someone to take it.
__________________
westwinds is offline   Reply With Quote
Old 10-12-2013, 12:52   #44
Registered User

Join Date: Jan 2012
Location: Vancouver, BC
Posts: 382
Re: The 70% Rule

I've been watching the market a few years now and see a lot of boats sitting because they are priced too highly which is fine if the sellers don't really want to sell and are flush to continue paying maintenance, insurance, moorage. We won't offer on a boat priced unrealistically, just not worth dealing with the drama of a seller who is proud, will take offence, tell us goodbye without having a conversation in which to start a negotiation. I have seen a number of high priced boats taken off the market for a month and then re-listed with "new listing" which always cracks me up because anyone actually watching the market knows it's not a new listing and if you're looking at dropping anything over $50k on a boat you're likely following the market and doing your homework.
__________________
terminalcitygrl is offline   Reply With Quote
Old 10-12-2013, 14:29   #45
Registered User
 
denverd0n's Avatar

Join Date: Jun 2008
Location: Tampa, FL
Posts: 3,953
Images: 6
Re: The 70% Rule

Quote:
Originally Posted by westwinds View Post
And, there are some poorly designed boats needing a lot of work where the owner should pay someone to take it.
Well, that's the whole problem with trying to apply any sort of simple rule of thumb. Even if your rule of thumb is to offer only 10% of the asking price, there are a whole lot of boats out there that you would be offering WAAAAAY too much for!
__________________

__________________
denverd0n is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off




Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 19:21.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.