Off Shore Boat Price Consideration

[tommyh]

Kee word their.....OLD

[tommyh]

Originally Posted by Red Sky

David, now your talkin' I'll take low-ball offers all day long at $100 a pop.

Was not a lowball offer,you do not have to low ball if its a nice properly represented boat that actually can go out for a sail.

[Cheechako]

Originally Posted by Eddiefuego

Well, as OP, first I want to thank you all for your time and interest (and humor) in my situation. I very much find CF worth watching and participating in...so thanks to the folks that sustain. The experience of folks here can help fill the many holes I have in my own limited boating background. I currently feel pretty inadequate diving into the deep end of the crusing life but the attraction is something kin to a moth to a bright light. That said.
I would like to keep my out-of-pocket purchase price at somewhere a tad over 30K$. I am at that price because I know I'll need some $$'s left over to fix the massive amount of things I and the surveyor will not see.
I would like a boat that is both bluewater capable and has enough room to be relatively comfortable as a live aboard for two...and two gatos...for up to a couple of months at a time. S.O. and gatos will be on and off so the boat needs to be single handed friendly. Hence the 38'er.
I'm looking at the Panama boat because it meets...what I believe to be my needs. The boat started for sale in the mid 50's and is now on the market for the low 40's...but NADA says it should be in the mid 20's. wtf?
The owner has a second boat so he may be ready to sell. The boat has all the bells and whistles needed for crusing.
I was planning to start on the U.S. coast in order to work out the kinks, with access to parts suppliers...and get my "big boat" legs...oh...did I mention...I've sailed a trailer sailor for 5 seasons on lakes and this is my first "big boat"? I'm a past farmer so I know a 1/2" for a 9/16", plumbing system, ohms from volts, etc. AND...I really really want to get this show on the road...I'm 57 and not getting any younger...have a fair monthly income, enough cash to buy the boat, and in good health...so far...fingers crossed. Yes, i know I'm a little crazy...no need to reenforce that..but I think I'm is good company here. So, is my price point reasonable? Ideas/cautions for buying a boat in panama? Current owner has broker experience I hear so I'm way out gunned...I'm trying to learn all I can before starting negotiating.

This is where the "selling" part (on behalf of the buyer) comes in. Talk with the seller, give him examples of same model boats that have sold or dont sell at all. If the boat is loaded then maybe it is worth more than the NADA 20k, but often , all the well worn stuff on a "well cruised" boat is in marginal condition, or at the least "well worn". Make it happen. $25k is pretty cheap for a decent cruiser,, not sure what you're looking at. Located in Panama and degrading, the boat could very well be worth half what it would be in Florida.

[chris_gee]

Even locally I found most possible boats not worth the trip of up to 100 miles except as a learning experience.
Say the price was 55K less 10% negotiating room less 20% for location. That puts it at forty forty-four.
Another approach would be could you get a decent 38 ft blue water boat for 50K. What are the comparables? I suspect the age and condition would mean 10K would easily be spent. Not just on extra equipment if blue water is really your thing, but on the majors like motor rigging sails and possible osmosis. Any one of which could blow your budget.
Maybe you need to downsize on what you can afford v would prefer.
Forget NADA and 20K I doubt that will happen.
Photos can be deceptive, even old.
In some ways you are buying in a context and the seller characteristics are important. By that I mean I would rather buy from an older person who had the money to spend and maintained his boat but now say is limited by health or circumstances. Conversely I would not buy from a young person who had not put the effort or money in, nor a trader out for a quick buck.
I would want to find out as much as I could before spending significant money.

[tommyh]

All the brokers out their,to minimize all the pitfalls of trying to sell a yacht just make sure you are properly representing it. Many buyers are very knowable and know what they are looking at and what they want. The last thing I want to do wile going through the process of trying to purchase a boat is have to educate a broker on what and how he has a vessel listed that I have an intrest in. My museings have been interpreted as me just out for a "deal" well the truth of the matter is,the money is the most important part for me because I only have so much of it,I cannot go broke over sailing. That should not make me a jerk just because I cannot afford to splash money around with reckless abanment. I sold my boat in one week because it was properly represented and priced accordingly. I really do not think im asking for much.

[deluxe68]

Originally Posted by tommyh

Wow dude,you know nothing about real estate,Here in the bay area houses have been selling for one third of asking for the last 4 years. I guess boats have been bucking the trend.

Which bay area?

[deluxe68]

Originally Posted by BoxerOne

How often have you seen a big ticket item -- house, boat, car, or airplane sold for 1/2 the asking price? Truly?

Draw a circle, three hours’ drive from your home, plug in 20% above your maximum price into Yacthworld and find the boat you would want to own -- NOT THE BEST DEAL.

Within your price range adjust the variables of size, age, condition, and equipment -- every boat is a tradeoff. Once you find the BOAT, not the DEAL that is right for you, work with the seller to get as close to 20% off the price as possible. But don't be surprised or disappointed if you wind up with only 10 or 15% off the list price.

Think about it. If you found a boat that was right for you and it was listed at $40K the difference between getting 20% off the asking price and 10% off the asking price is $4k. Now if you own the boat for 10 years that is a difference of $400 a year, or $33 a month. Would you pass up the perfect boat for you for $33 a month? If the answer is yes, then perhaps you might want to rethink boat ownership?

If all you care about is the BEST DEAL, you will not wind up with the BEST BOAT for YOU.

One boat we have our eye on has 6,000 hours on the engine, if I make an offer it will be around 90% of the asking price minus a new engine. The boat has been on the market for 1 year at the same (high) price.

[tommyh]

Originally Posted by deluxe68

One boat we have our eye on has 6,000 hours on the engine, if I make an offer it will be around 90% of the asking price minus a new engine. The boat has been on the market for 1 year at the same (high) price.

If I had made that statment I would be accused of "lowballing" your offer in my opinion is reasonable.

[Vasco]

Originally Posted by tommyh

If I had made that statment I would be accused of "lowballing" your offer in my opinion is reasonable.

How can you say that's lowballing when you don't even know the asking price. A new engine might be 5% of the asking price. I thought you had a deal already, tommyh. Didn't you say you had an offer out? What boat did you end up with?

[deluxe68]

Originally Posted by Vasco

How can you say that's lowballing when you don't even know the asking price. A new engine might be 5% of the asking price. I thought you had a deal already, tommyh. Didn't you say you had an offer out? What boat did you end up with?

The boat is over $250K

[sww914]

NADA's prices mean nothing. The individual seller's condition means a lot more. 2 boats, the same model and the same condition, similar equipment, one is a bit cheaper than the other.
The expensive one. She says the boat must go. He, being smart, lists the boat at above the market (stuff NADA, the Yachtworld market) and he won't budge a bit because as long as the boat is listed she stays quiet and he gets to sail.
Boat 2, the dude really does want to sell, has been layed off from work and he's just found out that his kid needs a head transplant. He'll sell low right away so he can pay for a new head for his kid. Way lower than NADA for a comparable boat to the one that will still be on Yachtworld in 29 years.

[Doodles]

Originally Posted by tommyh

If I had made that statment I would be accused of "lowballing" your offer in my opinion is reasonable.

90% and a new engine on a $250K asking price is a far cry from your strategy. Aren't you Mr. offer them 1/3 - 1/2 of the asking price?

[tommyh]

Originally Posted by Doodles

90% and a new engine on a $250K asking price is a far cry from your strategy. Aren't you Mr. offer them 1/3 - 1/2 of the asking price?

if you misrepresent a boat and im interested in it and think its worth persueing, the offer will reflect it. 1/3-1/2 would then not be out of the question. Also just interested,what woud be the cost of repowering a 250 k yacht. I would guess $$$$$$$$$$$.

[savoir]

Funny thing though - the 30k boat takes the same engine

[Doodles]

Originally Posted by tommyh

if you misrepresent a boat and im interested in it and think its worth persueing, the offer will reflect it. 1/3-1/2 would then not be out of the question. Also just interested,what woud be the cost of repowering a 250 k yacht. I would guess $$$$$$$$$$$.

You are out seriously boat shopping and offering 1/3-1/2 the asking prices, and you need to ask? If you don't know how are you arriving at these big discounts.