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Old 20-09-2020, 18:54   #1
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How much below asking price should we offer

We are looking at a 1989 37í Hunter Legend for our first sailboat. Asking $55,000 boat is in great shape and has been well taken care of from just looking it over. Has new motor with less that 100 hours, reverse cycle heat and A/C, Solar panels, LED lighting, has only been in fresh water for at least the last 15 years. Would like to know what everyoneís thoughts are on the Hunter Legends. Are they good boats for sailing the keys, Bahamas, bvi? Not too lightweight are they? And if we make an offer, what should we start out at? This is first time buying a sailboat so donít want to make an offer thatís too low. But donít want to pay more than itís worth either. Any help would be appreciated.
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Old 20-09-2020, 19:14   #2
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Re: How much below asking price should we offer

Look at the comps

https://www.boattrader.com/boats/mak.../model-legend/

Better be a VERY nice one for that price.

Presuming it’s in good or better shape, I’d hit him at 30k, and wouldn’t go above 40k


Here’s a 45’ for less
https://www.boattrader.com/boat/1986...nd-45-7533513/
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Old 20-09-2020, 19:15   #3
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Re: How much below asking price should we offer

Gypsy-girl, I canít comment on that specific boat and what itís worth but check out this thread on a similar topic.

https://www.cruisersforum.com/forums/f47/ethics-of-negotiation-230288.html?
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Old 20-09-2020, 21:23   #4
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Re: How much below asking price should we offer

Quote:
Originally Posted by Gypsy-girl View Post
We are looking at a 1989 37’ Hunter Legend for our first sailboat. Asking $55,000 boat is in great shape and has been well taken care of from just looking it over. Has new motor with less that 100 hours, reverse cycle heat and A/C, Solar panels, LED lighting, has only been in fresh water for at least the last 15 years. Would like to know what everyone’s thoughts are on the Hunter Legends. Are they good boats for sailing the keys, Bahamas, bvi? Not too lightweight are they? And if we make an offer, what should we start out at? This is first time buying a sailboat so don’t want to make an offer that’s too low. But don’t want to pay more than it’s worth either. Any help would be appreciated.
Yachtworld.com collects all actual sales data on boats listed with them and publishes that data on soldboats.com

That price is very high. send an email to boatpoker@gmail.com and I'll respond with the soldboats .com actual sales data for that model.

PS. if you are new to this you might benefit from http://www.pcmarinesurveys.com/Marin...rvey%20101.htm
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Old 20-09-2020, 22:14   #5
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Re: How much below asking price should we offer

Really good advice from all 3 above poster's....Definitely come in with a lower offer, you never know what they are willing take to be rid of the vessel.
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Old 21-09-2020, 05:21   #6
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Re: How much below asking price should we offer

As a general rule, expect the seller to settle for about 10% less than asking. How you get there is another matter. Can be tricky without offending the seller. I risked burning a deal once by a low-ball offer, but we eventually settled for about 5% more than my first offer. The seller wound up coming down by about 12%.
Re the boat: should be fine for the Keys and Bahamas. Not sure I’d want to challenge a 31 year old boat of medium build reputation going across the Stream in anything other than good weather. Most of the BVI’s would be okay, but you have to get it there first: the Mona Passage, which usually would be more of a challenge than the Gulf Stream. Hunters have rarely been seen in the charter fleet, which should tell you something.
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Old 21-09-2020, 06:06   #7
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Re: How much below asking price should we offer

It’s all about market value. The only good answer to a reasonable offer price is what it’s worth based on comparable sales.

As to what is found in charter fleets, they don’t buy based on quality. They are the Walmart of the industry. The Legend series Hunter produced are among the better models and are great for your stated purpose.
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Old 21-09-2020, 09:35   #8
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Re: How much below asking price should we offer

Be careful what you offer unless you are positive you want that boat. Years ago my ex found a house she wanted for $175 K and dragged me to see it and insisted I make an offer. I didn't want that house or any house as I wanted a bigger, better boat and offered $125K. Quick counter offer and ended up before I new it owning a house at $133K. Took 14 years to finally get the boat I wanted then unload the second house she had talked me.
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Old 21-09-2020, 09:51   #9
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Thumbs up Re: How much below asking price should we offer

Quote:
Originally Posted by S/V Illusion View Post
Itís all about market value. The only good answer to a reasonable offer price is what itís worth based on comparable sales.

As to what is found in charter fleets, they donít buy based on quality. They are the Walmart of the industry. The Legend series Hunter produced are among the better models and are great for your stated purpose.
What he said about Hunters! We are the proud owners of a 2003 Passage 420. She is a solid boat (we toured the Hunter manufacturing facility in 2014 and they are definitely well built) that has handled some very tough spots. We happily trust her with our lives.
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Old 21-09-2020, 10:16   #10
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Re: How much below asking price should we offer

You need a good surveyor and a lot depends on condition, sails, bottom etc. I think you are in the 33-47 bracket but maintance and conditions tell the story, I have seen some 60-80.
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Old 21-09-2020, 10:25   #11
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Re: How much below asking price should we offer

Personally I always look for the best one on the market and what I want to know is why it is worth more than another of the same model. Then I want to hear a surveyor confirm my opinion.

If everything is is confirmed, THAT IS THE BOAT I WANT. Price as a value judgement is over-rated. You can spend 10 or 20% easily in necessary repairs and upgrades.

My advice in buying anything is to go for the good one, and pay the price.
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Old 21-09-2020, 10:33   #12
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Re: How much below asking price should we offer

I like to explain to the broker (or seller) how I arrived at my offer so it removes any emotional implication to the figure. It’s a business deal at the end of the day, and those are rarely done on simply gut instinct.

In my case, I start with the comps from Soldboats as discussed above. Then, I arrive at my own determination of the boat’s condition from my personal evaluation. Let’s say I assess it to be middle of the road in condition- I now have a starting figure. This incorporates all of the subjective factors like seat cushion or canvass condition, etc. I’ll use the median of the range in this case.

Then I’ll identify any work that needs to be performed to bring it to my personal standards of seaworthiness and safety. Let’s say I notice oil in the bilge, non-functional electronics, etc. I’ll assign a value to those elements and decrement the original value down to account for those.

I present that to the broker or seller and I have never received an adversarial response. At the very least I can point to rationale behind my number and it gives me many items to negotiate within the total dollar value.

Then after survey, there may be more items that cause me to further decrement the offer.

I think the is the most fair approach, and I can always point back to a certain logic which I find helps keep everyone negotiating.
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Old 21-09-2020, 10:41   #13
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Re: How much below asking price should we offer

I agree, look at the comps. Also, why a hunter 37 and not an (for instance) island packet, pacific Seacraft, etc????
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Old 21-09-2020, 10:49   #14
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Re: How much below asking price should we offer

If it is the boat you want and like and is in immaculate condition fully kitted out and ready to go offer them a decent deal , why the hassle of insulting the owner , know 2 boats are the same and this one look good to you then buy her. There is no such think as the best price to come in at , you have the money they want to sell , buy the boat .
6yu can probably get a cheaper model but spend the next year fitting her out and upgrading , how much is your time and effort worth
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Old 21-09-2020, 11:08   #15
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Re: How much below asking price should we offer

As far as I'm concerned, there are no hard and fast rules when it comes to buying a used boat, car, airplane, house. It's a negotiation.

My current boat listed for 87K which was below market price (110-125K) because of the condition. I went through the boat and found enough things wrong that I offered 40K based on the amount of work and dollars it would take to get it into the condition where it would be worth over 100K. I bought the boat for 47K. I will put in another 30K into the boat and do most of the labor myself. Seller wasn't happy when the marine escrow service found out he owed 7K in back taxes to the county. BTW- the escrow service did not check this on their own. I had to direct them to do so. CA counties have some weird use taxes and I had experience with that county before.

So the boat has a new engine, ac, a bunch of fancy doodads. A boat of that size is expected to have a working diesel engine. A new engine doesn't increase the value of the boat, it increases the desirability of the boat. Say you're looking at 2 identical boats, same make, model etc, one has an engine that has 1000's of hours, pours smoke out and the other one has a brand new engine. If all else is equal, you'd buy the one with the new engine.

What does your yacht broker say? A good broker will guide you not just sell you. AC is fine at the dock as is heat but unless you have a generator you probably won't be able to use them away from the dock. How old are the electronics? etc etc.
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