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Old 05-11-2011, 15:17   #16
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It absolutely matters where a boat is. I live in florida and have to add in the cost to have a boat hauled down here. The last one we hauled from jacksonville to tampa. Found some i love in maine and washingtoon state. Can't afford the hauling. My point is i have a bigger pool of buyers in a place like florida then south dakota.

Now the usage question is interesting. Being a year round boater i see alot of boats not used or kept up. Not sure your argument makes sense unless you are storing it indoors. I would be more inclined to buy a boat well used where everything works.
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Old 05-11-2011, 15:38   #17
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Re: How to Price a Boat

The boat is in Florida at a preferred Marina. The boat is in really good condition and has 600 hours on the engine. If I get a survey an appraisal is included. Can I trust the surveyor appraisal or are they like houses where the appraiser merely puts down what the buyer is willing to pay?

From what I am hearing from the group the BUC price is not good and we should only use NADA. Is that correct?
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Old 05-11-2011, 15:47   #18
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I would suggest that the survey is protect your interests as to the condition of the boat. Hr can also suggest a reasonable price based on his or her knowledge. Do your own homework on price. Based on what you have shared you should determine what your offer should be which is normally less then the asking price. How much you want to low ball may insult the owner but you never know until you try. It still comes down to what is it worth to you. I just happen to be cheap.
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Old 05-11-2011, 16:12   #19
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Re: How to Price a Boat

Trying to price a boat has really been a learning experience. Things I have learned:
  1. Do not trust a broker
  2. Brokers merely list boats and want 10% for doing absolutely nothing
  3. Boat History website is totally useless and want $40 for doing absolutely nothing
  4. BUCvalu is absolutely worthless
  5. Yacht World prices should be ignored because everyone have inflated prices
  6. Sailboat Listing prices and descriptions should be ignored. I have traveled many miles to look at a boat which is described as excellent condition only to find a piece of junk.
Did I miss anything?

I still have not got an answer on this site as to what a 2002 Florida based, Hunter 410 in really good condition is worth. 3 blade prop, Yanmar eng (600 hrs), generator, basic wind, depth, GPS, radar, air condition, bimini, deck cover, davits, dingy, 15hp yamaha with lift, ice maker, electric freshwater head, extra closet.
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Old 05-11-2011, 16:44   #20
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K take every price advertised. Throw out the highest and lowest. Calculate the mean price of what is left. Condition of boat will determine if you go above or below mean with your offer.
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Old 05-11-2011, 17:34   #21
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Re: How to Price a Boat

Quote:
Originally Posted by Dkdoyle View Post
K take every price advertised. Throw out the highest and lowest. Calculate the mean price of what is left. Condition of boat will determine if you go above or below mean with your offer.
Not a bad idea, but missing a step IMO.
You will still have the mean asking price.

For a first offer I'd go in at 25-30% below that mean.
You can always up the offer, it's damn hard to do anything when you're floored by the stampede of sellers
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Old 05-11-2011, 17:49   #22
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Re: How to Price a Boat

You can price a boat using methods accepted for other assets of similar type (fixed assets).

E.g. check the price of a new one and allow for depreciation.

If new one not available, you can price against the original price corrected for inflation and then allow for depreciation.

Etc..

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Old 05-11-2011, 17:54   #23
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Re: How to Price a Boat

PS I am not sure one can price against askings. We do not price stocks based on buy orders only, do we; neither do we price other things based on askings.

Transaction prices, yes, perhaps, but then you will price to the market, not to the just value. Still it would be correct in respect of a buy/sell considered at a time/point. One cannot buy a boat cheaper than what the seller asks, even if the asking price is an economical nonsense.

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Old 05-11-2011, 18:28   #24
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Re: How to Price a Boat

generally, in a good economy they are often available at 30-40% less than asking. Now? depends on the sellers situation. i've been watching a Perry designed 28 footer with inboard diesel, gps ds etc go down in price for a while. now at $2k!
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Old 05-11-2011, 19:07   #25
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Re: How to Price a Boat

In my opinion pricing a boat should not be a mystery. There are a lot of people just beginning to sail and are desperately trying to buy a boat worth the money they are willing to spend. Many of these newcomers are retirees who cannot afford poor purchase decisions. Such as I.

I have always wanted to sail. I always pictured sailors as a little above most since they were willing to take their time and "go with the wind".

Boy was I wrong. Most don't sail. They motor. They lie about the condition of their boat elevate the price based on absolutely nothing. In other words they are just human. They will do anything because they can get away with it.
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Old 05-11-2011, 19:15   #26
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Re: How to Price a Boat

By looking at the prices and the boat your looking at, you almost have to ask yourself of what value you yourself are willing to pay for it..
I had been looking for about 6 years for a clean and not abused First 38 when I found a First 42 that han never had the sails up.. in a lake in northern Idaho...
People had tried to low-ball the price asked... Because it was the boat I wanted in very good condition, and the funds were avalable, I offered the asking price, + 1000.00 under the condition he would have it hauled to the west coast.. He jumped at the offer and I got what I wanted....
So If you are buying, and you find the boat that strikes your fancy, dont play around with the price much or you just might lose out..
I got what I wanted and the few thousand that I paid over what others were willing to pay, is nothing compaired to the enjoyment i've had over the past few years on her..........
Do I regret paying more, absolutely not........
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Old 05-11-2011, 19:24   #27
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Re: How to Price a Boat

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Originally Posted by Lance835 View Post
I still have not got an answer on this site as to what a 2002 Florida based, Hunter 410 in really good condition is worth. 3 blade prop, Yanmar eng (600 hrs), generator, basic wind, depth, GPS, radar, air condition, bimini, deck cover, davits, dingy, 15hp yamaha with lift, ice maker, electric freshwater head, extra closet.
Maybe because you didn't ask that question before?

FWIW to me it's value is SFA To other's (especially those based in USA / Florida) probably a bit more.......dunno if that helps?
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Old 05-11-2011, 19:33   #28
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Re: How to Price a Boat

Randyonr3,
Thankyou for your reply. We have read it several times now and you make a lot of sense and we know you are right. Thank you for taking the time to share your opinion. We may just follow your advice.
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Old 05-11-2011, 20:23   #29
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Re: How to Price a Boat

Lance,

Heres a quick view of the SOLD market in the last 18 Mo's.

Years 2000-2002 Hunter 41's
17 sold, high 149K, low 67K, throw both out.
15 sold at an avg of 126K.

Now take condition, equipment, toys, hours and location +/- and you have your basic starting point. I rarely us BUC or NADA during valuations as they do not reflect real world prices.

Yes a quality survey done by a SAMS/NAMS guy of your choice will put a Conservative valuation on your pre purchase survey, remember lenders and Ins. Co's are looking real hard at surveyors valuations.

PS: I sold a 2006 41 Hunter (last spring, on the market 3-4 mo's) for 174K with 100 hrs and better then avg toys and condition.

Hope this helps.

Dwayne
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Old 05-11-2011, 20:29   #30
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Re: How to Price a Boat

I'm with Randy that an incredibly low price on a boat is a rarely a good gamble. There's always a reason for a low price. I look for boats priced a little above average that are also way above average in quality and equipment. I then offer about 10% below what I'm guessing the owner expects and a short list of things that I want put right (if there's a long list of problems, I'm not making an offer in the first place). I usually have it accepted. Maybe I leave a little money on the table but not much.

The missing item from your list of lessons is that repairs to boats are really expensive-- About four times what seems reasonable in the non-boating world. It's really important when buying a boat to not buy a large repair bill. The surveyor will do his best but what can you expect in a few hours? He'll get the obvious stuff like a hose that needs another $5 hose clamp but miss the $5000 rot repair under the chain plate. New rigging? New sails? It's really easy to blow past $50,000 of repairs and upgrades in the first 12 months of ownership.

So my solution is to always talk to the owner. If the owner doesn't want to talk then I'm not interested in the boat. I ask about what work has been done and where he's gone in the boat. If the asking price seems high, I chat about that too. If they're in huge financial trouble, I don't want to buy a boat that's been neglected for two years. I'm looking for a guy or gal who loves their boats. Someone who had the money and interest to keep the boat in top condition. And who wants me to love the boat just as much.

And I actually do exchange Christmas cards with most of the people with whom I've bought and sold boats.

Carl
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