The 70% Rule

[CarlF]

The key to buying or selling a boat is to not be in a hurry and not be emotional about the deal.

I sold my last boat for 90% in a little less than six months. She was a great boat in beautiful shape. I still miss her.

I would always respond to low ball (from my perspective) offers with a "Thank you" but no counter. I don't particularly enjoy negotiating. And I was in no hurry to sell as I had low carrying costs.

If it hadn't sold in 12 months, I would have dropped the price.

When I buy a boat, I look for the best quality, best maintenance, and a PO that loves his boat. This always costs more and I'm glad to pay it.

I realize this isn't typical, but it works for me.

[wincrasher]

Does anyone know anything about new boats?

The base price is one thing - but the options are priced at 3x and 4x what I look up as list prices for equipment. Case in point - I can get a Raymarine i50 for around $650 on Amazon - the options list shows the same device at $1850!

At these kinds of prices, a $200k boat base price quickly climbs over $300k with the options.

Do new boats sell at posted prices, or is it customary to start at 70-75% of asking?

[thinwater]

Originally Posted by wincrasher

Does anyone know anything about new boats?

The base price is one thing - but the options are priced at 3x and 4x what I look up as list prices for equipment. Case in point - I can get a Raymarine i50 for around $650 on Amazon - the options list shows the same device at $1850!

At these kinds of prices, a $200k boat base price quickly climbs over $300k with the options.

Do new boats sell at posted prices, or is it customary to start at 70-75% of asking?

Not to be silly, but the does the Amazon unit come with installation and person to speak with after it was fried by crossing wires? We're comparing apples and hand grenades.

[wincrasher]

Granted, items have to be installed. Most of these items, I believe are factory installed, so that would be a few manhours and sundry parts.

But $18k for a 4.2kw generator? Really?

[tomfl]

Originally Posted by CarlF

SNIP

I don't particularly enjoy negotiating.

SNIP

I am in the same boat. On the other hand I know some folks who love negotiating.

[RedFeather]

Originally Posted by a64pilot

Right now, I'm a buyer, or at least a looker anyway. What astonishes me is the vast majority of boats I'm looking at look almost abandoned. They are filthy, covered in bird droppings, closed up and stink. I don't even think the holding tanks are emptied. You look at houses for sale, and usually everything is immaculate, they have had the interior decorator in, have the potpourri on the stove etc. And before anyone says anything, I'm not looking at 3 yr old Oysters and Island Packets, I have been looking at ten to fifteen yr old boats usually in the 200 to 300 thousand price range, so I'm not looking at older cheap boats. Are sellers discouraged when or if they find out the boat isn't going to bring them a profit, most likely they are going to take quite a loss? Is that it, or is this a boat thing?

Spot on. We're looking at boats to get a fix on what we need and how much it will cost. I've been astonished by the number of boats I've seen with clutter all over the inside and bird droppings all over the outside. The used boat market needs the equivalent of Love It or List It and The Property Brothers to boost sales volume and prices. Why a seller thinks anyone would want to buy a boat that will require a professional cleaning service before a potential buyer steps foot on it is beyond me.

[Hud3]

Originally Posted by wincrasher

Does anyone know anything about new boats?

The base price is one thing - but the options are priced at 3x and 4x what I look up as list prices for equipment. Case in point - I can get a Raymarine i50 for around $650 on Amazon - the options list shows the same device at $1850!

At these kinds of prices, a $200k boat base price quickly climbs over $300k with the options.

Do new boats sell at posted prices, or is it customary to start at 70-75% of asking?

If you can't get the dealer to come down, here's another approach. Buy a boat show boat.

I bought my boat "new" (50 hours on the engine). It was set up with several options by the dealer and had been taken to three in-water boat shows. I bought it at a 20% discount.

I had a few more options added afterward, like radar/chartplotter, SSB, and autopilot. As I recall, the installed cost of the options was generally about 2 or 2-1/2 times the cost of the equipment alone. I think you can do a little better by not having the dealer install the options, and hire your own installers.