General Info: Negotiating the price on a 400 Lagoon, 2011

[AZ_Zoner]

Not sure if this is the place to ask but seems like a good starting point. We are looking at and will start negotiations to purchase a 2011 400 Lagoon in the Caribbean next week. If the survey is favorable, what is an acceptable negotiating percentage off the asking price to start at? The price already seems good for this boat we are looking at.

Thanks for any input!

Craig

[monte]

That's a pretty wide open question. It really depends on the circumstances, but personally if I was looking for a discount I would be finding as many reasons why not to buy the boat to explain to the broker why it might be out of my budget (not necessarily overpriced) including any maintainance and repairs required, personal upgrade requirements, or comparisons to other yachts on the market or recent sales figures. If you think it's reasonably priced to begin with then offering 10% less probably wouldn't be an insult and would start the negotiations ball rolling. Lots of variables but don't let a yacht that suits you at a good price slip through your fingers as well. It's really a personal decision and process that applies to cars and real estate as well..
Other things can come into negotiations as well that may benefit you and the seller, such as immediate or differed delivery, removal or inclusion of some sails or equipment (the buyer may discount the price of the parasailor or watermaker for instance if she wants to use it on her next boat, or sell it separately. Also slip time can be negotiated, ie if it's charter company they might throw in 6months dockage. I'd try to be onboard for any surveys or inspections to thoroughly go through all the yachts systems, construction and equipment.
Good luck !

[AZ_Zoner]

Monte,
Thank you for your reply. This is close to what we we're thinking and it's nice to have a confirmation!

Craig

[tuskie]

Hey Craig, these boats are worth anything the seller asks, cause I own one!

Seriously, there are a few, mostly cosmetic, flaws that you may wish to exploit in your negotiations.
Look in the bilges. There will probably be a few cm of fresh water. This is backflow of shower waste through the bilge pump; they share the same through hull outlet. This will happen unless, like Monte's, the boat has been re plumbed to give separate outlets.
The benchtop cutout around the sinks will probably look crappy due to the laminate trim lifting from moisture, unless benchtop replaced as I have done.
Crawl into front centre locker and probe the plywood under the water tank(s) looking for rot. There is plenty of fibreglass here to support the tanks but a bit of rot in the ply is possible.
Closely inspect the edging on interior woodwork, not a a Lagoon strongpoint.
Look for water damage under and beside the fridge, from pooling condensation.

Obviously, you and a surveyor need to inspect the aspects that really matter; hull integrity, rudders and bearings, rigging, sail wear, stretch and damage, electrical systems, engine and gearbox condition, etc. etc.

Those little cosmetic flaws, if present may help in your arm twisting, but don't let them stop you buying a good boat. In good nick, the L400 is a good cruising catamaran. Luck to you.

[Moody46CC]

There was a huge debate (oops--thread) on this topic a while back. Three or four pages as I recall. Some strong feelings. Use the search engine.

If you are using a broker, he or she can get the selling prices of Lagoon 400s from Yacht World, giving you current data between selling and asking. You can access the asking prices on Yacht World but not the selling prices unless you pay a hefty fee. Of course, looking at the asking price of similar Lagoon will give you an idea on how close yours is priced to the market. You'll have to check the offerings carefully. Not only year of build, but the equipment. Obviously, for example, a boat with a/c with a dinghy and outboard will command a higher price than a similar model without that equipment.

Finally, you will have to make and settle on an offer before the boat goes to survey and sea trials. If some major problem develops during the survey, you can walk or renegotiate. The normal term in a contract is "acceptable survey," which is wide open. Same for sea trials. But you will have to make an offer that has to be accepted before any survey.

[monte]

Btw, where in the Caribbean is it located?

[AZ_Zoner]

Originally Posted by monte

Btw, where in the Caribbean is it located?

Martinique.

cb

[AZ_Zoner]

Tuskie, Very good info!


Thank You,


Moody46CC, We reviewed at least 35 Lagoons 400's last night comparing equipment and price.


Thanks,


cb

[monte]

Cheers CB, were in the dock in Le marin, Martinique at the moment. Let us know if you need anything.

[AZ_Zoner]

Originally Posted by monte

Cheers CB, were in the dock in Le marin, Martinique at the moment. Let us know if you need anything.

Thanks, Sending a PM to you.

cb

[AZ_Zoner]

Originally Posted by AZ_Zoner

Thanks, Sending a PM to you.

cb

I guess I won't send a PM. Not a trusted member yet.

[AZ_Zoner]

Originally Posted by AZ_Zoner

I guess I won't send a PM. Not a trusted member yet.

Ok, Tried one more time and the PM sent.

Thanks,

cb

[monte]

yes I think it was the magic 10th post. The spambot rejects PMs from users without many posts

[JimandBlieu]

AZ, please keep us posted, I would like to know where you land on the 400 as well. Thx

[PuttingDoctor]

Purchasing is an art lost on many who get emotionally involved prior to purchase. If you are a ready buyer with cash in hand then you are in the captains chair. You may insult the seller with your first low offer, but you may also find a more than willing seller ready to take the cash offer than wait. I was able to purchase my boat for twenty thousand under survey by telling the broker that the offer was for all cash and that I would not accept any counter offers. He took about 20 minutes with the owner and they took the deal.

Buy low sell high has always worked for me. Give it a shot, you have nothing to loose.