Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 28-07-2006, 14:50   #1
Registered User

Join Date: Nov 2005
Posts: 6
Best ways to reduce cat's asking prices

I'm planning to go cruising in 2008. I would like to buy a 47' to 50' cat and my budget is between $500K and $650K
I have been following cats for sale for the last 18 months and most of the cats in that price range are still for sale, but brokers are asking the same price they did almost 2 years ago. I have read that the best thing to do is to try to contact the owner because they are usually more interested in droping the asking price than the brokers. Is it a good idea to sign a buyer's broker agreement? I do not think it will be in their best interest to drop too much the asking price. Any idea how to contact the boat owner, once you find the boat you are looking for?
Any advice on this subject will be greatly appreciated.
__________________

__________________
arizolac is offline   Reply With Quote
Old 28-07-2006, 15:17   #2
Senior Cruiser
 
Jeff H's Avatar

Cruisers Forum Supporter

Join Date: May 2003
Location: Annapolis, Maryland
Boat: Farr 11.6 (AKA Farr 38) Synergy
Posts: 543
Images: 13
In my experience you have it exactly backwards. Actually, its the brokers that are more interested in dropping the prices than the owners. Brokers want quick sales, they realize that we are currently dealing with a buyers market and they don't want to be advertising the same boats month after month since that costs them money and prestige.

Owners are not trading in the marketplace and so they adopt an attitude that they know what they paid, and their boat is in good shape, so that must be what it is worth now. Of course it was a sellers market when they bought thier boat and, as any good broker now knows. it is a buyers market today.

A good broker is your best tool in getting a good price on a boat. I would find a broker that you trust and work with him in making your case. Discuss it in detail. Show the broker listings that you have followed for years so that he can refer to those specific boats.

In framing your offer it sometimes helps to include a note with your offer that explains your offer in terms of the market place perhaps mentioning that the average time on the market for the brand that you are considering is two years or what ever.

Approaching an owner directly with a low offer is only likely to piss off that owner. I know it did me. I refused to deal with that buyer because his behavior reflected someone who seemed to be trying to pull a fast one and therefore could not be trusted.

Jeff
__________________

__________________
Jeff H is offline   Reply With Quote
Old 28-07-2006, 15:30   #3
Registered User
 
Sunspot Baby's Avatar

Join Date: May 2003
Location: New Bern, NC
Boat: Prout Manta 38' Catamaran - Sunspot Baby
Posts: 1,521
Images: 14
If the boat seems right, make an offer at a price you're willing to pay. Don't worry about insulting the owner, you're not trying to make a new best friend, you're trying to buy the right boat at the right price. If the boat has been on the market for 2 years, the owner could be very motivated.

George
__________________
She took my address and my name
Put my credit to shame
Sunspot Baby, sure had a real good time
Bob Seger
Sunspot Baby is offline   Reply With Quote
Old 28-07-2006, 20:07   #4
cruiser

Join Date: Aug 2005
Location: No longer post here
Boat: Catalac Catamaran
Posts: 2,462
I'd like to remind you guys that the negotiated sales contract price isn't the end of negotiations. Your accepted offer will of course have an ammendment stating the offer is "good" pending the boat survey. Now folks, I've never seen a boat that is flawless. The survey report will note areas that need work/replacing. Get quotes on this work and start subtracting from your accepted offer. The result is a much lower price.

I apologize in advance if it seems I'm stating the obvious.

Rick in Florida
__________________
Tropic Cat is offline   Reply With Quote
Old 29-07-2006, 08:27   #5
Senior Cruiser
 
Jeff H's Avatar

Cruisers Forum Supporter

Join Date: May 2003
Location: Annapolis, Maryland
Boat: Farr 11.6 (AKA Farr 38) Synergy
Posts: 543
Images: 13
I did not mean to suggest that you should not make as low an offer as you think you can justify. I only meant to say, if you plan to make a low offer, do not approach the owner directly if the boat has been listed with a broker. That is less likely to get you to a deal than working through a broker you trust.

Jeff
__________________
Jeff H is offline   Reply With Quote
Old 29-07-2006, 09:40   #6
Registered User

Join Date: Nov 2005
Posts: 6
Thanks for the advice. I guess trying to go directly to the owners might not be the best way to do it. Jeff, I think you are right about sellers (owners) not accepting that we are in a buyers market today, there are 19 Lagoons 470 for sale, if I make low offers and upset a few owners but one accept my offer that is all I need. A St. Francis 48' just droped its asking price by $200K so there are some room for negotiation. George, you are right I am not looking for friends just a boat. Rick, thanks for the info on the survey. Now, all I need to do is find a good Broker and a good Surveyor. Great. Thanks agains for your help.
Cesar
__________________
arizolac is offline   Reply With Quote
Old 29-07-2006, 09:49   #7
Senior Cruiser

Cruisers Forum Supporter

Join Date: Feb 2003
Location: Macatawa Michigan
Boat: Amanda Faye 61' Custom Irwin aftcockpit ketch
Posts: 1,414
Images: 106
I agree with Jeff on many of the points he made. A broker is a great tool to use to make a good deal. Also the subjest to survey clause is very important. Only show the the page with the listed problems. NEVER show the surveyors value for the boat.
__________________
Gunner
irwinsailor is offline   Reply With Quote
Old 29-07-2006, 22:10   #8
Registered User
 
RandyAbernethy's Avatar

Join Date: Aug 2005
Location: Carib
Boat: Saint Francis 50 - Swingin' on a Star
Posts: 170
You may have run across Margaritaville II a Lagoon 470 in the BVI. This is a very nice boat in great condition (rarely used). It hit the water last year and was the last 470 I believe. I sailed on her and went through her systems in detail a few months ago and I would recommend her. I think you could get her within your range.
__________________

__________________
Randy

Human history becomes more and more a race between education and catastrophe. -- HG Wells
RandyAbernethy is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Cruising Cats ? Troubledour Families, Kids and Pets Afloat 48 24-10-2010 14:59
Good names in cats will n Multihull Sailboats 80 26-02-2007 01:03
Places, Routes & Cats Intentional Drifter Sailor Logs & Cruising Plans 3 05-07-2006 05:36



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 09:11.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.