Congratulations again Craig. Hoping all runs smoothly with the survey
This is a great example of the 'how much should I offer' or 'what % should I offer off the asking price' question, because the answer really is..'it depends'
Craig flew down to see a cat that was on the upper end of the market, but very well speced and appeared well maintained. In reality it wasn't well maintained or in a state ready to market. Personally I would have skipped it unless around a 20% discount off the asking price
was agreed on, but the seller wasn't up for any negotiations on the price
Fortunately the broker
had just listed another very similar owners version L400 which was available to view and I guess the difference would be chalk and cheese between a poorly maintained (sat in the marina for 9 months) yacht, and a yacht that was being actively lived aboard, maintained and upgraded. A case of being in the right place at the right time. I doubt the seller would discount the asking price by much, considering its fresh on the market, so agreeing on around 5% off the asking price is a pretty good win/win deal for both parties. More importantly, Craig ended up with a comparatively rare find, in that 90% of the similar boats on the market are ex charter
or not maintained in ready to cruise
So is 5% (around $20,000 off asking price) a good result in this case? I think so.
Could Craig have offered 20% less and walked away expecting a call from the broker
the next week to agree to his terms. I doubt it.
Is it possible another buyer would have come on to the scene and paid close to full price while Craig was trying to negotiate a bigger discount, effectively sending him back to the drawing board looking for a boat
and wasting an expensive trip to view the boat
, delaying plans and possibly ending up with a yacht in worse condition for more money
? Highly likely.
So yes, the answer to the original question is 'it depends!'
In this case I think Craig has a very good deal. I wouldn't feel the same way if he purchased boat #1 without a much bigger discount.💰💰