Question about brokers

[eweb101]

Hi all,

I just started working with a broker to buy a boat in the PNW. One thing he told me was that brokers have access to a special database where they can look up the selling prices of boats. Meaning that if I find a boat on yachtworld or wherever that has been sold, they can tell me what it sold for.

Do any of you know if this broker-only database actually exists? And better yet, is it really broker-only, or can I somehow get access to it myself?

I did some searching on google but can't come up with an answer so I thought I'd ask here.

[a64pilot]

Yes it does exist, in fact we were able to find out what the PO paid for my boat as he hadn't had it that long.
I am sure there is a code, a password, if I were a Broker I would not share it, I am sure they pay for it too

This may be it?

http://www.yachtworld.com/boat-conte...rs/sold-boats/

[ranger58sb]

Yes, it exists; and yes, it's only really available to brokers... or at least folks who have paid the big fee to access it (and surprise, those are usually brokers).

I think the name of it is soldboats, something like that.

I doubt it lists every boat sold; probably only those via certain sales avenues (e.g., yachtworld) via brokerage sales. Probably not craiglist, or boats sold through other local classified advertising.

A buyer's broker would likely be quite happy to work with you.

-Chris

[a64pilot]

I have heard that sometimes the prices reported are inflated, but I have no way of knowing if that is true or not.

[Tetepare]

In Fall I was lying in my bunk perusing YW when I found a "just right" boat at a very good price- $50k (all the others of that type were $70k).


In the morning I left two voice mails to the broker. Then I did my own research, and saw that the boat had been offered for sale less than two years ago for $67k. I was figuring an offer of $45k, though lowball, might do the trick. Visions of new boat filled my head.


In late morning, I went into the local broker's office and showed him the boat on YW. He called the seller's broker and got an immediate return call (I was still waiting for mine.)


Then my broker friend checked SoldBoats and saw that the previous selling price was $35K !!!!!


I got suspicious, and the boat sold a few days later. I never did check the latest selling price. However, the more experience I have asking for help from my local broker the more I believe that in some cases a buyer's broker may well be a darned good idea.

[RickG]

Brokers with accounts on YachtWorld get access to soldboats.com. When we were buying in the fall we used soldboats.com to get market prices for recents sales and used it in negotiation with the seller. We also provided this information to our surveyor to use as comparables for valuation.

I had our broker run a number of reports for us as part of our process of narrowing down our targets. Just ask your broker for some reports.

Cheers, RickG

[jimp1234]

Any one know what a subscription to soldboats.com costs? Is it open to the public or do you have to be a broker? Is there any other way to get pricing information about "comps"?

Thanx

[leftbrainstuff]

Its behind a paywall. It doesn't contain all boats sold. For low volume builds it may have no data. There is no blue book for boats like with cars.

Your buyers broker should be able to show you some data for specific boats. He likely wont give you access.

It's equivalent to a dealer or wholesale price list. The public doesn't get access. Business needs to make some margin. They incur costs that they legitimately pass onto to you.

We found that good boats in the sub $250k range typically sold for about 15% below list.

There is the odd super deal but dont rely on it.

[Paul M]

One other option is that many surveyors including mine have access to the sell prices. You might be able to get one of them to look it up for you.

[eweb101]

Thanks for all the replies. I do have a buyer's broker, but I was hoping I could get access to pricing data so I could do research on my own and not have to bug him so much.

Sounds like I either need to look into paying for soldboats, or give up on the idea.

[ranger58sb]

Originally Posted by eweb101

Thanks for all the replies. I do have a buyer's broker, but I was hoping I could get access to pricing data so I could do research on my own and not have to bug him so much.

That's what he's there for. It's his job... let him earn his due...

-Chris

[GordMay]

Originally Posted by eweb101

... Sounds like I either need to look into paying for soldboats, or give up on the idea.

Bug your broker, or give up.

SoldBoats.com provides marine surveyors with the most reliable source of sold boat data available today. New data is added daily. It is not available to the public. Eligibility Requirements and Terms of Use for membership apply.
Soldboats.com Subscription $416 / year
To sign up now:
1) Attach a copy of your Marine Survey Credentials AND
2) Please print and fax application and credentials to 206-352-9406 or call us at 877-336-9527
➥ New and Used Yachts for Sale - YachtWorld.com

[FutureStories]

PMed you my email, email me boat model year and length. Ill run the report for you... same goes to any other forum member, PM me ill send you contact info and send you the info you need. Dont shell out $$$ find a friend!

Your "buyers broker" should be doing this for you already. I do this for all my customers and potential clients. Best way to know what price to list a boat at is to look at what theyve listed for, sold for and whats for sale now! If your broker is not already doing this for you should consider a new one.

[old frog]

The system exists. It is only as good as the input data. Not all sales through Yacht World are reported. An not all that are reported are reported accurately. They are supposed to be but not all broker play by, or follow the rules. There are ways around the system.

Despite the above, it is about the only, and in my opinion, the best system that exists by which one can get a reasonable report of what a boat sold for. IMHO, it is far, far, far - light years - superior to BUC, NADA & ABOS values.

Some of the good brokers will provide a narrative as to why the boat sold for the reported price. It may, or may not, be an accurate explanation. I have seen each. Some selling workers are communicative when contact on that particular sale. Others are not.

It is up incumbent on the reader/user to sort through the listing, photos, & description to adjust for age, condition, inventory, market area, etc.

Subscriptions are available to those vetted industry professionals & institutions.

Agreed with the prior post that your buyer's broker should be aiding you with this info. Just take it for what it is: Just another data point an not as gospel.

[boatpoker]

Originally Posted by GordMay

Soldboats.com Subscription $416 / year

Thats US $. I think right now that's about $10,000 Canadian dollarettes that I pay

soldboats.com com provides the actual sales data of every boat ever sold while listed on Yachtworld.com. Info provided includes location of boat, date of listing, date of sale, asking price and actual selling price. One can also pull up any vessel listed to see original yachtworld sales listing with specs and photos.

Some say that the sales numbers are massaged by the brokers and while I'm sure that happens on occasion, the vast majority that I've seen in about 4,000 survey valuations are accurate.

I believe it is the best measure of used boat values around.