Boat buying etiquette

[boatman61]

Offer what it is worth to You..
If rejected walk away.. theres plenty more fish in the sea.

[Manana5]

Originally Posted by letsgetsailing3

You can offer whatever you want, but if you're offering a LOT less than the asking price, the seller may not see you as a serious buyer, but rather as someone who is bargain hunting.


Who knows, it may work out, or not. Your offer should be written, and have an expiration date. If it's just verbal and low, it's fairly clear that you're just fishing. You may or may not get a response.

Thanks, that makes sense. We traveled quite a long (and expensive) distance to see the boat and spend 2.5 hours checking it out, checked everything we could without a professional surveyor. I hope that makes us seem serious enough. The offer was written but only in an email, not a formal document or anything. I also did mention that we could go up depending on certain things (like if the owner fixes some stuff).. basically I was trying to sound open to negotiations and was hoping to meet somewhere in the middle.

[Kenomac]

Originally Posted by Manana5

Thanks, that makes sense. We traveled quite a long (and expensive) distance to see the boat and spend 2.5 hours checking it out, checked everything we could without a professional surveyor. I hope that makes us seem serious enough. The offer was written but only in an email, not a formal document or anything. I also did mention that we could go up depending on certain things (like if the owner fixes some stuff).. basically I was trying to sound open to negotiations and was hoping to meet somewhere in the middle.

An offer on an email means nothing. It needs to be a formal offer via the broker on a legal document to get any sort of attention. If the sale is taking place outside a brokerage, the offer still needs to be on a formal legal sales agreement along with a deposit to be taken seriously, it doesn't matter how much time you spent with the boat or how many questions you asked. Until the owner sees a purchase agreement with a deposit... it means nothing.

[letsgetsailing3]

Originally Posted by Manana5

Thanks, that makes sense. We traveled quite a long (and expensive) distance to see the boat and spend 2.5 hours checking it out, checked everything we could without a professional surveyor. I hope that makes us seem serious enough. The offer was written but only in an email, not a formal document or anything. I also did mention that we could go up depending on certain things (like if the owner fixes some stuff).. basically I was trying to sound open to negotiations and was hoping to meet somewhere in the middle.

Well, may work out. An email is written. It's a buyers' market for boats. Keep us posted.

[letsgetsailing3]

Originally Posted by Kenomac

An offer on an email means nothing. It needs to be a formal offer via the broker on a legal document to get any sort of attention.

That's not really true.

Any communication of an offer is valid. I recently sold a boat based on a negotiation that happened over text messages.

Sort of depends on the boat, the price range, and the seller, though an actual contract with a deposit is a lot more serious than an email.

[Kenomac]

Originally Posted by letsgetsailing3

That's not really true.

Any communication of an offer is valid. I recently sold a boat based on a negotiation that happened over text messages.

Sort of depends on the boat, the price range, and the seller, though an actual contract with a deposit is a lot more serious than an email.

The OP wants to know why the offer isn't being taken seriously, I offered my opinion as a person presently with a boat on the market for sale.

The OP can choose to listen to the advice or not.

[letsgetsailing3]

Originally Posted by Kenomac

The OP wants to know why the offer isn't being taken seriously, I offered my opinion as a person presently with a boat on the market for sale.

The OP can choose to listen to the advice or not.

I suppose if the OP is buying an Oyster, they'll be wanting to submit a written offer via broker.

If you took the time to read my comment, you'll notice that I did allow that a written offer with consideration would be taken more seriously.

You said than the OPs offer "meant nothing". My comment was that it's not impossible to get an offer accepted via other forms of communication.

[BlackHeron]

I'll second the notion a typical seller doesn't care about your budget or financial issues. He is selling something of value and will most likely be trying to get the best price for it he can on the open market.

What the OP is perhaps expecting here is "Charity." Charity is all well and good but the seller decides where and when they are going to be charitable, and to whom. For all you know the guy gave at the office very generously to a certified charity. Perhaps he is active in an oganization and is saving his charitable dollars for that focus. Expecting someone to be charitable to some random buyer for his boat just because you "don't have the money to afford it" is a little bit humorous to say the least.

That said, there are special cases where a seller of a boat may be willing to "shop buyers" and because of a certain extreme emotional attachment to their boat may be reluctant to sell it to anyone at any price, much less the "wrong buyers" who may not intend to use their beloved old boat in the correct way. He may be worried they intend to chop it up and modify it in a manner the owner feels is distasteful, and it may even be used as a derelict live-aboard or left derilict and unattended out on anchor somewhere to rot and/or fall victim to the next major storm. Some boats might even be bought for scrap or used for some crazy project.

If a seller is very attached to an older boat that has been in the family for many years and does not really need the money they MAY give a better deal to someone who intends to use their beloved old boat in the "right way" and fiyz it back up the way they feel is proper, and dignified -which may vary from person to person depending on their background and taste.

The point is if you want to get a price reduction in dollars from a seller you are going to need to give back something else of value to the seller that will sweeten the deal and replace this cash discount you are hoping for. If you can convince the seller that they are getting something else of value, beyond just cash, commiserate with the value they place on their boat then you might have something to bargain with.

[Manana5]

Some further clarification - we are not buying an Oyster It's an older, smaller and cheaper boat. We only met with the broker, never seen the owner, and our entire communication with the broker has been very friendly and open. I asked him many questions not only about the boat, but also about the buying process - what are the next steps if we like the boat, local regulation, etc. When we were done with the boat we agreed to stay in touch and he said his preferred channel is via email. He never once mentioned an official offer template, he just said "we agree on price, then we sign a contract and you pay a deposit". I assumed the "agree on price" could happen through emails. The boat is in France in case it makes any difference.

Also, I want to thank everyone who has answered - all advice is welcome. I started this thread with the intention to read more about others' experiences, not so much to discuss my own case, but nevertheless it has been very helpful.

[Island Time O25]

As long as you have valid reasons to make significantly lower offer then the asking price ALWAYS communicate these reasons to the seller in writing. And make sure he reads/gets these reasons.

The reasons of course can range from highly irrelevant to the seller (your lack of finances) to highly pertinent (boat's condition, location, age, other similar or better boats for sale in the area listed or sold for less, etc).

IMO as long as you back up with facts and explain the reasoning for your offered price no offer is a lowball one. It is a term most likely invented by the sellers and/or brokers ignorant (willfully or not) of the basics laws of supply and demand. With some (many?) boats out there it is the owner who should be making an offer to the potential buyer to take the boat off his hands.

[Manana5]

Originally Posted by BlackHeron

What the OP is perhaps expecting here is "Charity."

I disagree. What I expect is to reach a fair price where both the seller and we will be satisfied. If this is not possible, I expect the seller to politely refuse the offer. Also, I have not explained all this about budget, etc to the seller, but to the broker, because he seemed a very reasonable guy and I hope he can present the offer to the seller in the most appropriate way.

The rest of your post is interesting to consider but as I said I don't know the seller and what might appeal to him. I know he is a 70-something year old French guy, that's all. I am sure if he knew my family he would like us very much and want to sell to us, but he doesn't, and somehow it seemed irrelevant to send him photos of my kids who could be learning to sail on his boat

[boatman61]

A fair price only exists if you and the seller agree its fair..
Walking in with a minus 30% offer on my asking price indicates to me your either taking the piss or.. you consider me a rip off artist else why the insult..
Go swivel..
But thats just me..

[Manana5]

Originally Posted by boatman61

A fair price only exists if you and the seller agree its fair..

Exactly. I hope to reach an agreement. I suppose the seller overbid a bit with the price in order to leave room for negotiations. I also underbid for the same reason. I hope to meet in the middle. Might not be possible, who knows. If the owner's price is firm he should just let me know. Broker said he's open to negotiating, though.

[Svan]

There are a number of youtube videos that give annual summaries of the boat market.
I think you're asking if a 30% below asking offer is rude and should you surprised if you get no reply, and my answers are yes and no.
I learned from my sister, a real estate agent, to work at least a little bit with every offer, so maybe your conditions can be met, or the answer is "I'm not THAT motivated to sell". But that's me.

[Kenomac]

Originally Posted by Manana5

Exactly. I hope to reach an agreement. I suppose the seller overbid a bit with the price in order to leave room for negotiations. I also underbid for the same reason. I hope to meet in the middle. Might not be possible, who knows. If the owner's price is firm he should just let me know. Broker said he's open to negotiating, though.

Personally, I would ignore a 30% less offer delivered in an email on anything, even ebay auctions.