how realistic are the prices on boat classified sites?

[boatpoker]

Originally Posted by Cadence

I don't believe there is a source for boats sold. It's not like real property on tax books. That acre of land never moved.
Even at that what was it worth in Norway or Australia?

There is a source and you too can have access for about $700/yr.
soldboats.com lists all the actual listed and selling prices of every boat listed on Yacht World

[boatpoker]

Originally Posted by Paul L

Which makes the 'data' less useful if you want to know how long boats are staying on the market, how many times the price has been reduced and what percentage of the original price did the boat sell for.

You have something better than soldboats.com ?

[Paul L]

Originally Posted by boatpoker

You have something better than soldboats.com ?

Not at all. It's the best we have. But you should understand the data before making conclusions from it. Since, as far as I understand, the original offering price and date is not listed, you can't make statements like the boat sold for 95% of asking price. And unsurprisingly providing the data in this way can be an advantage to a selling broker trying to convince a possible buyer into making a higher offer.

The soldboatsdata is a reasonable place to find actual sold prices, although they can be biased by the way the brokers report - like reporting the sales price without the seller paid for repairs.

[boatpoker]

Originally Posted by Paul L

Not at all. It's the best we have. But you should understand the data before making conclusions from it. Since, as far as I understand, the original offering price and date is not listed, you can't make statements like the boat sold for 95% of asking price. And unsurprisingly providing the data in this way can be an advantage to a selling broker trying to convince a possible buyer into making a higher offer.

If you look at the soldboats data I attached you will see a listed date and listed price on that date. I already said I'm not sure if those are ammended at a later date or not tho' I doubt it. IF it's a concern you could contact them and ask them.

[sailjumanji]

In 2006, we purchased our 2002 Seawind 1000 catamaran used for $152k. That was probably 75% of original, new price. So 25% depreciation over 4 years. We owned the boat for twelve years and replaced sails, electronics, batteries, canvas and twin 9.9 outboards. In 2018, we listed it for $179k and it sold for full asking in less than two months. We also had a full price backup offer, in case original purchaser fell thru. Boat was in excellent condition and surveyed very well.

What does that do to your metrics for percent of ask price, depreciation, etc?

In 2007, we sold a 2000 Corsair 28R for $70k, which was $12k less than we paid for it new. Replaced sails, and had a full canvas cover made during ownership. Was in excellent condition. So 15% depreciation in 7 years. Also during that time, the new boat costs continued to go up, which worked in our favor.

We had a Seawind 1160 Lite built new, and took delivery in Feb this year. When we do eventually sell it, it will be in pristine condition as well. I can only hope depreciation wont be crazy, but enjoyment of the boat is primary consideration. If there was a used one for sale, I would have gone that route. But I have friends trying to do the same, for over two years now. At some point, you have to decide whether you'd rather be sailing, or shopping!

[Cadence]

Originally Posted by Paul L

Not at all. It's the best we have. But you should understand the data before making conclusions from it. Since, as far as I understand, the original offering price and date is not listed, you can't make statements like the boat sold for 95% of asking price. And unsurprisingly providing the data in this way can be an advantage to a selling broker trying to convince a possible buyer into making a higher offer.

Yep, and 95% of the first or last listed price? Looks good for the brokerage but the owner was probably coached into a realistic price. Not a thing wrong with it but maybe that conversation could have been had months ago.

[letsgetsailing3]

Originally Posted by boatpoker

I've been in the business for a long time and seen three such deals.
One of them was mine. I bought a $100k boat for 42k and beat the bailiff to the Transport Canada Registry office by 20 minutes.

Second deal was an as new CS27 for $700 sold at auction. At time time it should have gone for $17,000. One bidder only.

The third was a Nonsuch 36 which showed up in a marina, the owner disappeared and it was sold for $6k in docking fees. Should have sold for about $90k

As you say, the deals are out there but few and very, very far between.

Sort of like lottery wins.

Sure we all hear about them, but most tickets aren't winners, and lottery tickets are for suckers.

Much more frequently, those boats need a lot more investment than the buyer realizes.

[letsgetsailing3]

Originally Posted by jmorrison146

I'd be surprised if you looked at the numbers. According to comps provided by the US west coast's largest dealer, Jeanneau 44 DS (all years of manufacture) and equivalents sold in the US over the last year have sold at 95% of their final asking price.

You made a statement about all 40-50 foot boats sold in the U.S., and now you're giving an example of one model of one brand.

Even if that small sample were correct and complete, it's not really the same thing.

Sold boats data is useful in a relative way, but you have to understand that it's incomplete and limited, and use it as such.

One should not conclude from that data that boats sell for 95% of the asking price.

[Cadence]

This all comes to worth. I'm sure a good broker will give an owner a somewhat realist price and will list it for the price the owner thinks it is worth knowing, he/she, will not have to show it. They, in all probability, will have the listing when the seller gets
realistic. How knows some chump may buy it at the inflated price and their % is great.

[Jafal]

Just starting to look for our next boat, looking for a 32-35’ production boat Jeanneau, Beneteau, Hanse etc) that is 4-10yo.

So one of these is in the market, current asking a bit over $200k, well option boat in great/near new condition. Brand new (model still in production) with the options would be around $270k.....

Still think that the $200k seems over the odds, but also boat only been on the market a month or so.

So how realist is the asking price?, what is a fair price? This is the big question. How much do options add to the asking price? Not much if it is an option to buyer isn’t fussed about (a steering wheel is a wheel, who really cares if it is carbon fibre)?

[Cadence]

Originally Posted by Jafal

Just starting to look for our next boat, looking for a 32-35’ production boat Jeanneau, Beneteau, Hanse etc) that is 4-10yo.

So one of these is in the market, current asking a bit over $200k, well option boat in great/near new condition. Brand new (model still in production) with the options would be around $270k.....

Still think that the $200k seems over the odds, but also boat only been on the market a month or so.

So how realist is the asking price?, what is a fair price? This is the big question. How much do options add to the asking price? Not much if it is an option to buyer isn’t fussed about (a steering wheel is a wheel, who really cares if it is carbon fibre)?

More info. and someone might be able to help. A copy of the listing might be a start.

[Jafal]

Originally Posted by Cadence

More info. and someone might be able to help. A copy of the listing might be a start.

Yeah was trying to be a bit vague .. but it is a 2016 Jeanneau 349 at AU$205k with Performance Pack and Preference Pack.

https://www.boatsales.com.au/boats/d...17695958/?Cr=0

It is interstate from me so before I start looking to go down and inspect, need to do a bit of work on what is fair value.

[Island Time O25]

It's pretty simple really. A boat in bristol shipshape should sell close to its asking price. On the other hand a TLC specimen is worth whatever the willing buyer (if one is found) is offering for it. And often the worth of such boat is quite negative, i.e. meaning the seller would have to pay the hauler to dispose of it.

[Jafal]

Originally Posted by Island Time O25

It's pretty simple really. A boat in bristol shipshape should sell close to its asking price. On the other hand a TLC specimen is worth whatever the willing buyer (if one is found) is offering for it. And often the worth of such boat is quite negative, i.e. meaning the seller would have to pay the hauler to dispose of it.

Yep got that bit .. it is a question of "How Realistic is the Asking Price" ... is a 4yo production boat really still worth asking 80% of the new price? How much value do you put on options that you are not all that fussed about?

A boat in bristol shipshape that has an asking price of to much is still overpriced.

[Old fella]

Originally Posted by Cadence

Appreciation? I doubt it. It leaves the box it has depreciated possibly holding some residual value.
Boats are a depreciating item. That said how is the enjoyment valued or what can an individual afford to piss away?
I don't know having pissed away money.
Would I do it again, yes.

Well said, I sold my big boat and moved ashore, then bought a little h28 for coastal cruising for 18k, the way I see it, if and when I need to sell it in 5 to 10 years, anything I get will be a bonus, the enjoyment is worth something.