Yachtworld - Same Boat, 2 Different Prices?

[rossir]

Can anyone shed light on this little discrepancy I found on Yachtworld? These 2 listings are both current:

1996 Jeanneau 36.2 Sail Boat For Sale - www.yachtworld.com
Price at $105k, last updated 6/26/09

1996 Jenneau Sun Odyssey 36.2 Sail Boat For Sale - www.yachtworld.com
Price at $65k, last updated 7/25/09

From the photos posted on Yachtworld, they seem to be the same boat, yet they are 38% apart in price. My take is that the owner has now lost the boat to the bank, as the 2nd listing is with a liquidation company.

If this is correct, I am wondering if anyone is seeing other listings like this, or perhaps an overall pickup in bank-led liquidations.

[Kefaa]

I was going to comment on the emotion around boats and how some people feel that theirs is always worth more...

However, it appears that Yachtworld has an error in either the conversion or the carry over. Look at this page Browse Jeanneau 36.2 boats for sale

Then select the boat from Glenn Cove and you will see $105,000 US. Yet, the listing about showed it as US $63,884.

Best in this case to call the broker. If you find it is that big a gap - I can go back to the first sentence. lol.

[Cheechako]

If you track a given boat over time, you will often be able to see the reductions in price. (that's a big one there!) You may have to search deeper in the Google pages/history to find it though. It depends on if there is a separate google page for that boat or not I think.... not sure. It's not real unusual to see a boat sell at 40% below the optimistic first listing price! I think you may be correct though, that's a repo or a fire sale before it becomes one!

[cdennyb]

If you look at who's offering it originally it was a marine center, (brokerage) then the last listing is a liquidation center. (Repo). That's my take on it.

[TaoJones]

I think rossir's analysis in the first post is probably correct - boat was repo'ed between the two listings. If that's true, the brokerage listing would be null and void, most likely, as the listing party with whom they had an exclusive listing is no longer in possession of the vessel (so it's no longer his to sell.) The party currently in possession (bank, loan company, etc.) then, apparently, gave the listing to the liquidator.

It would be interesting to contact the broker to see if they claim to still represent the offered vessel.

TaoJones

[nautical62]

There are many things that line up to indicate they are the same boat: year engine hours, etc. I felt the fact they have the same name, written in the same style, was fairly indicative as well.

I agree with the above posts. Many boats are initially listed with high prices, but the owner begins to learn as it just sits. I looked at a Morgan OI 30 that initially listed on yachtworld at 26K, then 22, then 18, then 16. The owner accepted my offer of 11.5 which I ended up walking away from. A repo would certainly be cause for a price drop as well. Other boats are listed with much more realistic prices right off the bat. Focus on the value the boat has to you, not the drop in asking price.

[svquest2]

I think there may be a misunderstanding between British Pounds and US dollars

Joe S

[Arch Stanton]

I don't think it's the case here, but a lot of times Yachtworld ads will use "sister ship" pictures rather than a picture of the actual boat for sale. Something to watch out for.

[svquest2]

Here is the ad with both Pounds and Dollars

1996 Jeanneau 36.2 Sail New and Used Boats for Sale - uk.yachtworld.com

Joe S

[svHyLyte]

FWIW the later ad was placed by a liquidator and in the photos, some of the personal property does not appear. I suspect the yacht may have been repossessed and is being offered for sale at the outstanding indebtedness plus charges. It would be a good deal for a buyer but a sad loss for the original owner. In any case, an email to the listing party will tell the tale.