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Old 07-01-2015, 19:21   #1
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Too much of a good thing! Too many buyers for one boat.

So we've had our Columbia 29 for sale for a little while now. We've had some interest, then it was summer and I stopped/slowed on my trying to sell it. Once the fall hit I relisted it and updated my sales ads with the seasons worth of projects behind us.

Then it happened... All of a sudden I got a few phone calls. Then a few more emails. Then more phone calls, and a showing. Now I have a problem I have 4 people that want to see the boat THIS WEEKEND, 3 on Saturday, 1 on Sunday! When it rains it pours! The problem I have now is 2 guys have a 3-1/2hr drive to come see it, one guy lives locally, and the third is a 10hr drive.

What do I do! I've started by being upfront with all of them and telling them I have other interested parties. All 4 of them say they are very serious and one said if it was as described (and it is) that he is more than happy to give my full asking price. Do I just tell them first come first serve, whoever puts cash in my hand first has it? I hate to make someone drive 3-1/2 hrs only to tell them the other guy got there 5 minutes earlier. Ahh first world problems eh? What would you do?
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Old 07-01-2015, 19:29   #2
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Re: Too much of a good thing! Too many buyers for one boat.

Where's the link to the sales ad, I'm interested too!

I've always said first one to show up with cash wins. As soon as the cash is in hand, I call everyone else to let them know it's gone.

The flip side is that in one situation, I showed up to a very under priced Miata which I'd made plans to purchase exclusively with the owner, and three other guys were bidding the price up in the driveway!


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Old 07-01-2015, 21:54   #3
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Re: Too much of a good thing! Too many buyers for one boat.

"A bird in the hand is worth two in the bush", first one to put up the cash wins.
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Old 07-01-2015, 22:07   #4
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Re: Too much of a good thing! Too many buyers for one boat.

Everything is subject to previous sale. Just notify the others ASAP after the sale is made.
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Old 08-01-2015, 06:22   #5
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Re: Too much of a good thing! Too many buyers for one boat.

I agree with Archer, cash is king, but be open with the others as soon it is sold. I looked at your boat this summer with a friend(Kevin) who was looking to buy, your boat is certainly a good old boat.

Good Luck, hope she sells.
Scott
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Old 08-01-2015, 07:04   #6
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Re: Too much of a good thing! Too many buyers for one boat.

Hey Landcruiser, thanks for the compliment! I remember you guys, did he end up buying that Irwin in Holland? How's he liking his new boat? Keep in touch and maybe we can plan to meet up at some point this summer.
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Old 08-01-2015, 08:00   #7
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Re: Too much of a good thing! Too many buyers for one boat.

You could let them all see the boat and make offers. Be upfront about this and tell them no second round of bids( not a bidding war). Also after bids come in chose the one you like most. Beware of the "subject to survey" you might be better off taking a lower "buy it now" bid.
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Old 08-01-2015, 08:43   #8
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Re: Too much of a good thing! Too many buyers for one boat.

Appick,

He wound up buying a Catalina 30 out of the Muskegon Conservation Club, and is keeping it there...dirt cheap. Can't believe they do not even charge to drop the stick there...getting in and out was fun the first time, we ran aground twice on the way out, but got the lay of the bottom pretty quick after that.

I am off to Florida to boat hunt next week, but would love to meet up this summer...I am assuming that you are getting a bigger HIW once she sells.
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Old 08-01-2015, 08:55   #9
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Re: Too much of a good thing! Too many buyers for one boat.

1961 Columbia 29 MkI Classic sailboat

I believe this might be the listing. As long as all involved know what is going on and are allowed to make offers all should be good. Cheers Justin
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Old 08-01-2015, 09:14   #10
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Re: Too much of a good thing! Too many buyers for one boat.

Haha yea the orange buoy is considered a red and a little counter intuitive to go closer to shore than it is... lol. Hey a Catalina 30 is a great boat glad he found something to his liking. It's good to hear he's in the neighborhood too. I'll PM you and we can swap some phone numbers again for next summer.
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Old 08-01-2015, 09:27   #11
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Re: Too much of a good thing! Too many buyers for one boat.

Don't worry too much about the person who lives 10 hours away. We've been in a similar situation (as a buyer), and if he really wants it, he'll make sure to get there first, regardless of the distance. It's really not your problem, though it's nice of you to be concerned.

I once sold a motorcycle, and a guy showed up while I was taking someone else's money, and he was very angry that he'd driven 2 hours for nothing. But there's just no way to avoid it, when more than one person is interested.

As others have said, first come first served is the only fair way.
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Old 08-01-2015, 09:39   #12
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Re: Too much of a good thing! Too many buyers for one boat.

The buoys are a little odd, you have to go very close to the shoreline. the bleach bottle buoys are a little odd. Def. not regulation. The local fisherman just kept fishing and smirking..LOL.

Good luck with the sale, send me a note when you aren't busy...
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Old 08-01-2015, 09:43   #13
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Re: Too much of a good thing! Too many buyers for one boat.

Well done, it sounds like you've priced it right?


We bought our current boat well discounted from someone who'd got himself into the: 'I now own two boats, which is at least one to many' situation and grudgingly accepted our low, but hard/fast cash offer; this of course meant that we owned two boats, which is at least....


Our answer was to post a 'warts and all' advert for our old boat and use some of the purchase saving we felt we'd made in discounting her to well under the current/local book price, but stipulated that it was a 'cash-only/complete within four weeks' offer. As I recall we had something like sixteen enquiries within 24 hours and to the first three we sent a return email with very explicit boat details - it included dozens of photos and a the list of jobs that we would address the following winter if we'd kept her - and also advised that they were 1, 2 or 3 on the list of applicants. To the next three we sent an email saying they'd get similar only if all of the initial three said no/were time-wasters and the rest an email saying 'thanks, but you're probably too late with your enquiry'.


Number-1 on the list bought her (it was a real bargain) at the price/timescale we demanded, but we kept numbers 2-6 informed as to how the deal was progressing throughout, thereby saving people unnecessary journeys across Europe to see the boat. We could've probably sold her a week or so faster and/or perhaps even gotten a 1000 more for her, had we allowed a free-for-all, but there again, perhaps not: if the situation had been reversed and I'd been told 'come to see her, but you're one of a dozen enquiries' I probably would've dropped out then, rather than take a 12-1 shot with the likelihood that either the boat was rubbish, or if not having to get into an auction for her.
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Old 08-01-2015, 09:48   #14
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Re: Too much of a good thing! Too many buyers for one boat.

Quote:
Originally Posted by Land Cruiser View Post
Appick,

He wound up buying a Catalina 30 out of the Muskegon Conservation Club, and is keeping it there...dirt cheap. Can't believe they do not even charge to drop the stick there...getting in and out was fun the first time, we ran aground twice on the way out, but got the lay of the bottom pretty quick after that.

I am off to Florida to boat hunt next week, but would love to meet up this summer...I am assuming that you are getting a bigger HIW once she sells.
You should stop by and see if those CT's are still there lol.
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Old 08-01-2015, 10:03   #15
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Re: Too much of a good thing! Too many buyers for one boat.

Don't count your chickens until they arrive!
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