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Old 01-02-2013, 08:28   #1
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Why you can determine the asking price of your boat yourself

How do you determine the right price to sell your boat?
“Surely you need an expert for that”! Not really. You can determine the asking price by comparing with other boats. Most boats are production boats and can be compared with many others of the same make to determine the asking price. One-offs are different, but they can be compared to other boats as well, so it is not impossible to determine a reasonable asking price yourself. The market will correct too high prices sooner or later. It is the same as with cars. Example; a Chrysler Grand Voyager from 2007 with a 3 liter engine, with 175.000 miles on her will have a comparable asking price to any other Chrysler Grand Voyager with that engine, year and mileage. Sure there are options that influence the price, but you can compare with the other cars offered online and position your car exactly right. The same goes for boats. A Bénéteau First 36.7 from 2003 is comparable to many of her sister ships. Again the options influence the price, engine hours, amount and quality of the sails, etc. You will have to position your boat compared to the other offerings on the market.

I have seen it proven over and over again. Just check any big used-boat website and look for the same models, built year and specifications and you will see there is a small variance. Very likely the cheapest one will sell first depending on its state. Boats that are too expensive will be for sale too long and eventually have to drop their price. It is true people ask too much for their boat at first, but when they are serious about selling they have to drop their price to a point on which the market accepts it. Especially with the current oversupply this is important to understand for sellers.

The best for both buyer and seller is to have an independent surveyor value the boat and do a techincal survey as well, so you have a fair starting point for negotiations. When both parties have the surveyor's report and are reasonable they will come to a deal that is satisfying to both parties. When you don't have to pay a broker you will have more room for negotiations and the more likely it will be you will sell your boat quickly.

See Bouwe Bekking's video tips below.
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Old 01-02-2013, 10:08   #2
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Re: Why you can determine the asking price of your boat yourself.

But surely the price is more dependent on supply and demand than on prices of other boats... if you really want to sell! We have had so many discussions here about how idiots will keep a boat on the hard for years, and pay storage, rather than dropping their prices...
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Old 01-02-2013, 10:17   #3
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Re: Why you can determine the asking price of your boat yourself.

Absolutely! That is why I say too high prices are corrected by the market eventually. Problem is that when they would have set their price right (much lower) from the beginning they would have probably sold their boat earlier saving them a lot of money. Sellers need to realize it is a buyers market now. Even before the crisis the over supply was already there, but now average sales prices have dropped around 25% in 2012. There is a lot to choose from, so positioning your boat right is very important. Obviously it is also very important to present the boat in the right way with good pictures, video, all specifications, etc.
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