Average List vs Sell Price

[MoonlightShadow]

Spoke to a broker (UK - and it was about a year ago) who said if a boat is well overpriced, you might have it on your books for years, and never get a bid - but you might. He said the owner tells them his asking price, and if it is too high, they will search around for similar boats and after a month or so with no interest, suggest a reduction to the owner to make the asking price competitive with other similar boats on the market, with appropriate adjustments for condition etc.

He said there is no such thing as a standard reduction, as it all depends on the owner's view as to what he or she will accept. He did say that common first offers are nowadays coming in at around 60% of asking price, with a good few finally settling at around 75%. He also said there was no common rule though, as every boat was different, and every owner and buyer were too.

He also said that most of his sales were taking place to customers from Europe, as the weak pound made British boats cheaper to buy.

One of the problems we have in the UK now, is that only two finance companies are really commiting funds for boat loans. Mercantile Credit (Barclays) and Lombard (RBS/NatWest), and that this "pinched" funds across the entire market. The days when brokers had their own agencies for finance suppliers, have simply gone.

Apparently, the UK market dropped by about 30% overall in 2008/09, but is now showing signs of stabilisation. Not growth -- stabilisation. I presume that means, that it isn't falling anymore.

Actual experience: I've been party to two boat purchases (friends) this year. One was bought at asking price - a transaction between two friends where I thought the price was pretty reasonable, certainly not excessive. The other, bought through a broker, was purchased at 73% of asking price, after about 20 minutes of haggling "buyer-broker-owner" over the phone.

[Pacific Jewel]

Ours was definitely more than 25%. But we did HUGE research on what other sister ships sold for and equipment etc comparisons on board. I think this is absolutely essential if you want to go in and do some real bargaining for a desirable boat. I've noticed the good boats go fast, thus the importance of research - and acting quickly. The more "project" boats are not what I am referring to here (although let's face it, there's always some sort of "project" to get a boat ready for sea).

My 2 cents.

[BillAU]

G'day mates,

Interesting thread, for people such as myself, looking to buy.
I found a boat which I believe would suit me down to the ground, a good size for 1, to 4 persons at times, a shallow draft and from what the details say, she dosen't need a lot of work...I know that can be taken with a grain of salt but...There are a few hassels to be overcome.
The boat is in the States, WA state. So it's no easy or cheap job for me getting to inspect her before finding a surveyor. She has twin engines, petrol/gass, which I would pull-out and replace with twin diesels once I got her in Australia...If she passed muster.
I would have to have her freighted to Australia and freight agents I spoke with in the States want more info' on the boat than I can supply.

With the above little hassels, someone like myself making an offer on this, or any other boat off-shore, need to facture-in these costs but...Boats in the States, specially full-on motor boats, seem to cost a lot less than similar boats here in Oz.

With the boat I believe would suit me spot-on, she is a 38' Chris-Craft Coho Trawler and doing "any" research on these boats is like searching for hens teath! Chris-Craft only built 58 of these Trawlers...I don't know if that's a good thing or not.
Anyway, with some of you having been down the road of making a successful offer on the boat you won, what would you offer for the 38' Chris Craft? If you were in my position

I do not know if I'll make an offer on this boat, I still have a couple of "home grown" problems to sort-out before heading off to live aboard but...This is one of the type of boat I'm researching...The others are Tri's and a much different story...I think

Bill
Australia

[Pacific Jewel]

Bill, pm'd some info for ya. check it out.