Negotiations for a sailboat marketed for 3 years plus

[Knocker]

Having viewed a vessel a couple of years back I was reasonably keen then though employment situation dictated otherwise. I didn't make any offer while adding it had already been up for sale over a year then. There will be items to address given it's been unused in a marina since. It's up for US$75k ono while it's had no takers to date. I don't want to be unreasonable yet were I to buy the vessel then I'd be in the same position come resale. Any pointers would be appreciated.

[wolfgal]

hello Knocker and welcome to CF!


oh dear... maybe i am misunderstanding something in your post/your question (and it does have a troll scent to it), but it sounds like:

-the boat has been listed for sale for at least three years
-it has been sitting on the hard during this time
-the asking price has not changed

-and you are wondering whether if, in the event you purchased the boat, you will be able to sell the boat for the same price sometime in the future?

i'm no pro at this (as many on here are, so my opinion could be quickly balanced out), but i would not pay asking price for a boat that has been sitting without use and/or maintenance for three years. there are many things that deteriorate, that need attention on a boat, on a regular basis. red flag alert.

more importantly than this, i would be extremely cautious about the condition of the boat, as there could be a very good reason that no one has bought it. good boats are selling like hotcakes these days, why is this one sitting? red flag alert.

for me: either something is wrong with it or no one inexperienced enough has come along willing to pay that much for it. either that, or the owner doesn't really want it to sell or doesn't NEED to sell (and is waiting for someone inexperienced to pay too much).

and no, it is highly unlikely you will get this asking price back at resale. imho, prepare to lose half of the asking. boats are depreciating assets. unless you are dedicated to it, are passionate about refitting/fixing/updating/repairing (and some folks are) and throw your time, effort and earnings at the boat, count on losing up to half of the initial investment and about everything you threw at it while in your care.

and, know that, without regular TLC, maintenance and repair, selling the boat can get tricky (it might sit on the hard for three years). before that happens, i would suggest donating it to the Boy scouts or gift it to someone who is willing to bring the boat up to snuff.

yes, i'd be weary...

in any case,
good luck!

[ranger58sb]

Originally Posted by Knocker

Having viewed a vessel a couple of years back I was reasonably keen then though employment situation dictated otherwise. I didn't make any offer while adding it had already been up for sale over a year then. There will be items to address given it's been unused in a marina since. It's up for US$75k ono while it's had no takers to date. I don't want to be unreasonable yet were I to buy the vessel then I'd be in the same position come resale. Any pointers would be appreciated.

Just offer what you think the boat is worth... to you. Use sales comparables, etc.

Almost without regard to whatever the asking price is -- unless the asking price is lower than what you're willing to pay.

-Chris

[LittleWing77]

Originally Posted by wolfgal

...I would not pay asking price for a boat that has been sitting without use and/or maintenance for three years. There are many things that deteriorate, that need attention on a boat, on a regular basis. red flag alert.

+1

Originally Posted by wolfgal

...I would be extremely cautious about the condition of the boat, as there could be a very good reason that no one has bought it. Good boats are selling like hotcakes these days, why is this one sitting? red flag alert.

+1

Originally Posted by wolfgal

Either something is wrong with it or no one inexperienced enough has come along willing to pay that much for it. either that, or the owner doesn't really want it to sell or doesn't NEED to sell (and is waiting for someone inexperienced to pay too much).

+1

Originally Posted by wolfgal

Yes, I'd be weary...

Wolfgal has nailed it: triple red flag and resale value would be negligible. If the boat is actually in good shape, my bet would be - an owner that has an overly inflated opinion of what his boat is worth and won't budge.

Yes, I would be weary and wary!
LittleWing77

[Albinvega27]

Originally Posted by Knocker

Having viewed a vessel a couple of years back I was reasonably keen then though employment situation dictated otherwise. I didn't make any offer while adding it had already been up for sale over a year then. There will be items to address given it's been unused in a marina since. It's up for US$75k ono while it's had no takers to date. I don't want to be unreasonable yet were I to buy the vessel then I'd be in the same position come resale. Any pointers would be appreciated.

I do buy "old" boats and I do very, exptremely carefull research on the boat. N° 1 is important the brand of the boat. Some manufacturers for mass marketed boats are known for blister, some other have other flaws.
Now, a boat that has been sitting for 3 years on the yard, you will look very, but very precise into the boat.
Chainplates, Keel screws, rigging in general. Electronics and wiring and of course, the inner woodwork. Whatever is hidden, is a nightmare. Because you will be taring apart the boat.

If it hasn´t sold in 3 years, there is a big reason behind. Too expensive, negotiator too inflexible... you name it.

And one big truth in buying a boat. Be no man´s friend here. You will be paying the bill of whatever was hidden and so, protect yourself. I have a ruel = 30% of the price asked. There are so many boats out there and I prefer to buy a good One 1´000 Kilometers away and sail it home, then the "right" One in the neighborhood Marina and it never returns into the water because it is a neverending project.

Be careful

[Knocker]

Originally Posted by wolfgal

hello Knocker and welcome to CF!


oh dear... maybe i am misunderstanding something in your post/your question (and it does have a troll scent to it), but it sounds like:

-the boat has been listed for sale for at least three years
-it has been sitting on the hard during this time
-the asking price has not changed

-and you are wondering whether if, in the event you purchased the boat, you will be able to sell the boat for the same price sometime in the future?

i'm no pro at this (as many on here are, so my opinion could be quickly balanced out), but i would not pay asking price for a boat that has been sitting without use and/or maintenance for three years. there are many things that deteriorate, that need attention on a boat, on a regular basis. red flag alert.

more importantly than this, i would be extremely cautious about the condition of the boat, as there could be a very good reason that no one has bought it. good boats are selling like hotcakes these days, why is this one sitting? red flag alert.

for me: either something is wrong with it or no one inexperienced enough has come along willing to pay that much for it. either that, or the owner doesn't really want it to sell or doesn't NEED to sell (and is waiting for someone inexperienced to pay too much).

and no, it is highly unlikely you will get this asking price back at resale. imho, prepare to lose half of the asking. boats are depreciating assets. unless you are dedicated to it, are passionate about refitting/fixing/updating/repairing (and some folks are) and throw your time, effort and earnings at the boat, count on losing up to half of the initial investment and about everything you threw at it while in your care.

and, know that, without regular TLC, maintenance and repair, selling the boat can get tricky (it might sit on the hard for three years). before that happens, i would suggest donating it to the Boy scouts or gift it to someone who is willing to bring the boat up to snuff.

yes, i'd be weary...

in any case,
good luck!

Thanks, though I should've explained it's actually been sat in the marina for that time, albeit with monthly diver/hull cleans etc.

[wolfgal]

Originally Posted by Knocker

Thanks, though I should've explained it's actually been sat in the marina for that time, albeit with monthly diver/hull cleans etc.

the boat has been sitting in the water for more than two years without a dry-out on the hard?

whenever you feel lusty about a boat, just remind yourself, there are many, many boats in the sea

[Knocker]

Originally Posted by wolfgal

the boat has been sitting in the water for more than two years without a dry-out on the hard?

whenever you feel lusty about a boat, just remind yourself, there are many, many boats in the sea

It's a steel hull, last haul out & survey 2017. Sorry, I should've included this in the opening post, this is my first visit so I apologise.

[boatman61]

Originally Posted by Knocker

Thanks, though I should've explained it's actually been sat in the marina for that time, albeit with monthly diver/hull cleans etc.

So the owner is maintaining some form of maintenance to keep the boat tidy..
Your best option is to go onboard and have a look for yourself.. viewing is generally free.. just asking a bunch of strangers about a boat they have never seen serves zero purpose.
Arrange a viewing, take some pictures then come back with something concrete for folks to opinion about..

[wolfgal]

in this case, then i suggest that you first ask to read this survey. especially in a steel hull over five years old, look carefully for any mention of rust/corrosion, especially on the inside of the boat hull.

if you still want to view it, i would inspect the inside hull as well as possible.

do not know much about a steel boats.

good luck

[boatman61]

Another point is steel boats are hard to sell, only thing harder is ferro cement..
GRP is to easy to maintain in comparison..
How old is the boat.?

[somanyboats]

Steel rusts from the inside to the outside. A haul out is needed to measure the hull in different areas to make sure all is sound. Make an offer on condition of the survey. DO NOT offer the asking price.

[MJH]

Originally Posted by Knocker

Having viewed a vessel a couple of years back I was reasonably keen then though employment situation dictated otherwise. I didn't make any offer while adding it had already been up for sale over a year then. There will be items to address given it's been unused in a marina since. It's up for US$75k ono while it's had no takers to date. I don't want to be unreasonable yet were I to buy the vessel then I'd be in the same position come resale. Any pointers would be appreciated.

There could be any number of reasons the boat has not sold. Number one would be the price is too high for the current market. Others include: it is not a currently popular design because it doesn't have all the bells, whistles, or only one wheel so many prefer these days; overall poor condition, poor taste of the previous owner (painted over interior wood), non-fiberglass hull, nonstandard/poor interior layout, a one-off design with no pedigree or known designer, wood deck, some outstanding feature that may raise doubts/dislike in a buyer's mind, blistered hull, high engine hours, sails or rigging in poor condition, or maybe the seller is just not in a hurry to sell. Then there are buyers that are only looking for boats in prefect condition and don't want to do any work at all. And lets not forget bad marketing...the number of poor boat ads/photos I see is alarming.

If you follow a particular line of boats over a number of years you will see that specific boats may take years to sell with the sellers generally lowering their asking prices over time. That doesn't mean they are bad boats in all cases just the owners finding the proper confluence of price and that one buyer that can't live without it.

In contrast to the Have-Got-To-Have-It-Now-At-My-Price buyer, a knowledgeable buyer will check out the boat determining its possibilities and estimating the cost to get it into acceptable condition then logically negotiate with the owner on what he determines is a FAIR price before walking away...many brokers would support you.

Lastly, after walking away it may pay to revisit that one boat months later and see if the owner has changed his mind and will sell. It works sometimes...that's what I did with success.

Good Luck.

~ ~ _/) ~ ~ MJH

[somanyboats]

Went to the site where the boat is for sale. It says a custom build but that may be code for home built. If you are close by get some one to go with you and take a very hard look at everything. Look for the negatives. take pictures and keep notes. Spend at least a couple of hours. Visualize how you would use the galley, head etc. For me it's a $30,000. boat. good luck

[joelhemington]

Originally Posted by Knocker

Having viewed a vessel a couple of years back I was reasonably keen then though employment situation dictated otherwise. I didn't make any offer while adding it had already been up for sale over a year then. There will be items to address given it's been unused in a marina since. It's up for US$75k ono while it's had no takers to date. I don't want to be unreasonable yet were I to buy the vessel then I'd be in the same position come resale. Any pointers would be appreciated.

Not telling us what brand or size the boat is makes it kind of tough for us. Due to the possibility of interior rust you can't see a lot of people just won't even look at an older steel boat, which could be happening here. Age, brand and size is what we need.