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Old 05-12-2010, 18:40   #1
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What You Paid vs the Advertised Price

Like a lot of users here on CF Im looking at purchasing and hearing what dire straits all economies are in and I wonder - how much is really between the advertised price and what you were able to negotiate. The brokers are working for the vendor and talking up the boat - wont last at this price etc . Maybe there are some that can tell us what offers were knocked back .


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Old 05-12-2010, 18:43   #2
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Sold one early this year at 14% off of listing price. Bought one a month ago at 21% off.

It all depends.


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Old 05-12-2010, 18:52   #3
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In the process at 15% off listing price.
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Old 05-12-2010, 18:55   #4
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You cannot really compare one deal to another, especially in this economy to get some standard way to negotiate.

Some sellers are more realistic than others and set a fair price to start and so will usually be less negotiable on the price. Some sellers are too emotionally attached to their boat, think they want to sell but set a price that is too high and won't negotiate since in their heart of hearts they really want to keep the boat.

You will find some sellers that are desperate, about to lose the house and have to sell the boat urgently, either to get some cash or to get out from under payments. Then there are still plenty of people that are in good financial shape and can afford to wait for the right deal.

The problem is you can't always tell which one you're dealing with.

Then the brokers. Their job is inherently a conflict, on two levels. Generally they do primarily represent the seller and should look out for his or her interests and try to get them the best deal possible. That is also in the best interests of the broker since the higher the selling price the higher the commission. On the other hand, if they don't sell the boat they get no commission so they're motivated to get the price down to what the buyer wants to pay.

Sorry I can't give you an easy rule of thumb. Best advise is to watch the market, learn the prices on the boats you like and be ready to move fast if a good deal comes along.
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Old 05-12-2010, 18:56   #5
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Paid 100% of asking price. But also got the owner to finance the boat for 2 years, and I added 5k as incentive. Worked out well for everyone. Used the owner's broker, who is one of the best guys I've met in the business, Bill Adams of United Yacht in Annapolis.
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Old 05-12-2010, 19:12   #6
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In my experience, sailboat owners don't tend to be the ones who find themselves in deep financial trouble in a recession. Too smart or too careful. Maybe both.

Selling price is much more supply and demand for specific boats than the macro economic situation . High quality boats that have been well maintained rarely sell at a large discounts. Poorly built boats or that have haven't had a good owner sell at large discounts or don't pass survey. There's always a shortage of good boats over 45ft that are less than 10 years old - except maybe for ex-charter boats.

Frankly, I would gladly pay 20% more for a boat that's had really great owners. It will cost me less in the long run.

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Old 05-12-2010, 19:56   #7
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i refuse to buy from brokers. i will look thru the listings for the asking prices, then i will look well at the boat and keep looking-- i found mine -- formosa 41, 1976, next door to was being neglected and had been restored by wrong person prior to po purchase. these were running at asking prices from 39k-89k---i looked into one at 42k-- i got this for 10k. is in better shape than originally thought, so i am fortunate to the max.
each boat deal is different and in this market, is a difficult thing to say a pat answer..but sellers of boats now are getting badly abused by the drop in values.i will probably be a 2 boat owner for a long time yet.
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Old 05-12-2010, 21:21   #8
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Dec 2007, I paid $30k for a boat advertised at $35k. That was before the bottom seriously fell out. However, I've got the same boat up for sale now at $25 and not getting a nibble at all. Things are only going to get better for the buyer. Cash is king, just be patient. Right now I've got $20k in cash on hand. If a great deal comes along I'll jump again.

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Old 05-12-2010, 23:02   #9
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Usually much harder to buy direct from owner (I did say usually) due to personal attachment same with cars. The broker is a neutral and is more likely to convince the seller that he is asking too much which is usually the problem. If the buyer tries to do it the seller just thinks he is being conned.
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Old 06-12-2010, 01:36   #10
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Bought my current boat last year; paid 100% of the asking price. The price was good to begin with, and the boat was exceptional, and the price turned out to be firm, although I tried mightily to negotiate it, walking away a few times.

I don't think there is any rule. A lot depends on how correctly the asking price has been formulated in the first place. Probably most sellers add a little to what they hope they will get, so you can negotiate 5% or 10%. Other sellers are simply clueless and name a fantasy price which could be double what the boat is really worth. Some of these might even accept a ridiculous lowball offer, if the boat has been on the market for long enough and they are getting desperate enough. Different cases are different.
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Old 06-12-2010, 03:06   #11
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Both my boats were 100% off original price. Although, my catalina 16 costs me 23k for a new truck and a set of sails. My Ranger 28 ran me 5k so far for a trailer, furler and much more, also still looking for a new truck as the one I got for the Catalina can't tow it.
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Old 06-12-2010, 03:34   #12
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I've bought two boats in the last three years (have now sold one) and I got 20-15% off on both. When I was looking, I would search for a boat I "liked" and was within my price range before any discount. Then I would go in with an initial offer of usually around 20% off depending on the boat and the listing price and then go from there. I wasn't looking for the best financial deal so I was not expecting a huge discount. The right boat was more important than the financial deal ... within reason, of course. The one I sold was for about what I paid for it, but I took a loss on the improvements I had put into it, which was probably 20% of the listing price.
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Old 06-12-2010, 04:55   #13
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I bought a boat in October or just about 70% of asking price.
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Old 06-12-2010, 06:16   #14
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2nd quarter I offer 80% of asking price for a boat that was already priced at the low end of similar boats listed on YachtWorld.

My offer was accepted but after survey I walked away.
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Old 06-12-2010, 06:27   #15
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Bought ours at 19% off asking price, should have held out for 25% due to surprise repairs that got missed but no education is free.

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