Excuse me sir, don‘t wanna lowball but...

[CascadeThumper]

For what it's worth...my buddy the boat broker says that the vast majority of boats sell for about 2/3 the asking price. If they are the rare screamin' deal they are gone instantly to the brokers buddy and the average dude never sees them.

[Terra Nova]

Originally Posted by CascadeThumper

For what it's worth...my buddy the boat broker says that the vast majority of boats sell for about 2/3 the asking price. If they are the rare screamin' deal they are gone instantly to the brokers buddy and the average dude never sees them.

Your buddy is an idiot.

[denverd0n]

Originally Posted by Terra Nova

Your buddy is an idiot.

Real useful post, there.

Everything that his buddy said might be true, in that particular area. In other areas, it might be nothing at all like that. Markets do vary, you know.

[CascadeThumper]

Markets vary, your location may have a different playbook. Ex: boating friend picked up sweet 48 Chris about 15 yo and shipped it TX to Seattle and claimed he stole it, even with shipping. Any number of nice 34 Tollycrafts offered at $100K + here in the PNW. But they sit until the price hits about $75K. For many, you can follow their price progression on CL. YMMV. I hope everyone gets what they want out of a deal and more. As with other items in life I won't pay full retail if I can be a good shopper on CL or eBay or whatever. My local dealer wanted $60K for a new Acadia I found one for $50K other side of the state. My local dealer met the lower price. Personally, I would never offer full price for a boat, new or used. My theory - wait till after the holidays about time the CC bills are due and the tax man is about to make his rounds....then make an offer. Aren't you sposed to negotiate from a position of strength? Also, Cash Talks, Bigly.

[Group9]

A boat, or anything else, is only worth what somebody will pay you for it. What you paid for it, or what you think it is worth, is immaterial to that fact.

[SKG56]

Originally Posted by Group9

A boat, or anything else, is only worth what somebody will pay you for it. What you paid for it, or what you think it is worth, is immaterial to that fact.

That's right

[buzzstar]

Originally Posted by Group9

A boat, or anything else, is only worth what somebody will pay you for it. What you paid for it, or what you think it is worth, is immaterial to that fact.

I must admit, I disagree. Everything each party knows (or sometimes does not know) and considers relevant, and is probably material, goes into the equation. The parties sort things in personal priority order, and then with each other in what may be an abrupt or an ongoing process. Probably the only things that do not matter are thing neither considers relevant or material, and things the individuals do not know they do not know. We each do it in our own way, and while it may sound complicated, humans do not usually feel it is.

[john61ct]

But the worth is determined by the price actually paid.

And spending a lot of money, time and energy to unload it quickly, need to deduct that.

Something reasonably advertised sitting on the market for years is by definition overpriced, and then when it sells the carrying costs should be deducted too.

[buzzstar]

Originally Posted by john61ct

But the worth is determined by the price actually paid.

And spending a lot of money, time and energy to unload it quickly, need to deduct that.

Something reasonably advertised sitting on the market for years is by definition overpriced, and then when it sells the carrying costs should be deducted too.

Yep! But the worth is only as between the particular buyer and seller, although it is a potential guide for others. All factors the parties consider relevant and material fit into the price equation, but there is no formula.

[Island Time O25]

As someone who has been on both sides of the lowballing issue I still can't understand the concept of being offended by a too low offer. It is a free market, or supposed to be anyway, and both the seller and the buyer have a right to state what they are willing to accept or pay accordingly. And a cream puff in the eyes of the seller may be a money pit in the eyes of the buyer.

The last boat I sold I knew was valued way above my asking price. In fact the quickness with which it sold (3-4 weeks on CL) was a proof of that. But due to my particular circumstances I accepted a 20% less than the asking price as the buyer wanted to exclude the mooring which I was throwing in with the deal and which for the right buyer (one on the waiting list in our mooring field) would've been worth the whole asking price of the boat.

I probably could have priced the boat at its FMV (about twice what I listed her for) and without the mooring. But that would mean a good chance of going into off season, winter storage, time spent trying to sell at FMV and what not. And I just did not want to deal with it as the full price (if I ever got it) but in the spring would mean almost the same net as I got for her in August. And the time spent showing her over the winter (1-1.5hr r/t drive for me) would also be a drag on my life.

Also I enjoyed showings where there were a bunch of total newbies who had absolutely no idea what the boat was worth and noticed things which to any sailor would be but a minor cosmetic nuisance to be fixed or replaced in 10-15mins. And they never appreciated the fact that the sails were like new crisp and so was the dodger and whatnot. I enjoyed it b/c I was once such a newbie and must have missed a few great boats just because I did not know any better at the time. They were kind of like me 15 years ago.

[FL Dan]

I have to chuckle at myself over an experience many years ago when I was trying to sell my sailboat, private listing, no broker. A fellow called and made an offer, sight unseen, except for having seen the boat earlier when it was not for sale, about 40% below my asking price. I replied, "No way."

The same fellow called a year and a half later, inquiring as to whether the boat was still available, and it was. He offered about 10% less than before, if I’d deliver it to him at a marina about 75 miles away.

"I can have it there day after tomorrow." Done deal! You never know what they’ll take unless you ask.

[valhalla360]

Originally Posted by Scout 30

This is all a lot easier if you are represented by a Broker as it's the Broker's job to know the market value of any boat you are interested in.

Just keep in mind the Broker has the Broker's best interest in mind (buyer's or seller's broker).

If you seem receptive to offering 50% more than the buyer is likely to accept, they will happily submit an offer for 50% more than market rate because their commission will be 50% higher. Don't count on the broker pushing you to offer less.

[Mike OReilly]

Originally Posted by Island Time O25

As someone who has been on both sides of the lowballing issue I still can't understand the concept of being offended by a too low offer. It is a free market, or supposed to be anyway, and both the seller and the buyer have a right to state what they are willing to accept or pay accordingly. And a cream puff in the eyes of the seller may be a money pit in the eyes of the buyer.

IT, if you can’t understand the concept of a seller being offended by a low-ball offer, then I gently suggest you don’t understand human nature very well. In fact, there is plenty of psychological and economic research into this topic. These studies clearly show just how emotional we humans are when it comes to these supposedly dispassionate transactions — even to the point of having the seller harming themselves in the face of a percieved low-ball offer from the buyer.

There are some, like you, who can remain unemotional in these situations, but know that you are unusual. Might mean you can get a better deal out of these transactions.

[denverd0n]

Originally Posted by FL Dan

I have to chuckle at myself...

Kudos to you for being able to chuckle about it, and not wasting emotion being angry.

Sounds very much like a friend of mine who sold his boat several years back. He first put it on the market at a seriously inflated price. I told him I didn't think he would get that much for it. He said, "Well, I'm not going to GIVE IT AWAY!"

He kept on saying "I'm not going to GIVE IT AWAY!" for four years, as he repeatedly reduced the price. Meanwhile he was spending about $5k per year on dockage and insurance. He finally sold it for less than the very first offer he had gotten four years before!

As for being offended by low-ball offers, I won't say that I don't understand it. I do. Some people just get way too emotionally tied up in this sort of thing. They take the selling process much too personally. So, I understand it, but I think it is really stupid. This is just business. You're selling an object, not your first-born. Take the emotions out of it and it will be quicker, easier, and almost certainly more profitable for you.

[Tia Bu]

I've bought a number of boats at 30 percent of asking price. That's NOT 30 percent OFF. That's 30 percent of the asking price.

As others have said, make the offer and be polite. The offer doesn't even need to be reasonable. Just let them know you're interested in the boat and that's what you have to offer.

They can decide. Sometimes they say "yes" right away. Sometimes they say "yes" a few months later. Sometimes they counteroffer. Sometimes they say "no." Sometimes they never respond.

By the way, as a seller, I hate when people "fish" for a price reduction in a conversation. Make me a real offer, with a signed contract and earnest money. I'll respect it and respond. Selling boats is not easy. A real offer is rare and something you pay attention to, in my experience.