What percentage of asking price would you offer?

[dwedeking2]

My goal as a buyer is to pay the least amount. It's not a personal attack, just that those $$ have value to me. Each one I can save is that much sooner I can leave or that extra comfort I can put on the boat.

I don't see why people get upset at a lowball offer. Just say no and move on to the person with a better offer. There is no assigned value to an item, it's all relative to an individuals circumstances / desires.

[Reefmagnet]

As a seller of stuff over the years, my strategy has been to start the price at the higher end of the range to test the market and then progressively drop the price to meet buyer interest. This is actually a commonly used pricing strategy for introducing unique products to market which applies well to second hand stuff. It's easy to drop prices, harder to raise them! More than once, I've been knocked over by a feather because someone has payed top dollar without negotiation because that particular item was exactly what they were after. To them, no doubt, the asking price was well worth it.

That's the basis of negotiating when buying and selling how I see it. It's not unreasonable to expect the seller may in fact know their asking price is too high, so never any harm in throwing in an offer mathematically unrelated to asking price. Clueless sellers, on the other hand are best avoided. You know, the ones that list their boat with descriptions such as "Engine rebuilt - 2001, rigging replaced 2006" not realising time has moved on since they spent all that money.

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[sailorboy1]

Originally Posted by dwedeking2

My goal as a buyer is to pay the least amount. It's not a personal attack, just that those $$ have value to me.

Paying the least amount and getting the best value have NOTHING to do with each other! Paying more for something of value is probably a much better deal than paying less for a piece of junk.

[dwedeking2]

Sailorboy1,

I meant in regards to that specific boat, not the differences between values on 2 separate boats.

[Mike OReilly]

Originally Posted by boatman61

Go look at the boat.. see what its worth to YOU.. then make that offer..
A serious buyer stands out.. so does just another anal fender kicker..
Only starting offers bordering realistic will be considered for a second bid..
Many a buyer have I told to PO over the years when the 'Joke Offer' was knocked back and they returned with my bottom price in hand..
Sorry Bud... no sale.. keep your toilet paper.

Exactly what I was saying. But as usual, Boaty says it with more colour, clarity and experience than most .

[brantleychuck]

"Low-ballers are shunned. The right selling price is one that is fair for both buyer and seller."


I don't get this. Who are " low ballers" shunned by? I have negotiated the price of things I have bought since I was 14 years old. Is there some type of moral authority at work here. I just do not see where " fair" comes in. I have money, you have something I may want. I offer money you say yes or no. Who loses?
I'm sensing that there is some kind of " I'm superior to you because I'm willing to pay the fair price ". I've been low balled by buyers over the years, I usually just chuckle walk away. No biggie. What's the big insult? I just like to get the biggest bang for my buck. I make my offers early in the game. " will you take less?" It's yes or no. If it is no I usually move on. I wait for a seller who is motivated, moving or just needs or wants to get rid of whatever there selling at a big discount. I have the cash in my pocket, I pull it out". You want to sell, I have the cash right here, want to smell it? I've learned over the years that making the low ball offer over the phone is usually a long shot.much better results face to face cash in hand. I dunno know, I'm not out to make a new friend, my goal is to pay as little as possible. Educate me, why does that make me " that guy". Who is " that guy" anyways. What name do you call me behind my back? Scallywag?
With all that now said. Selling my cruising sailboat was the biggest challenge I've had selling things. It brings out the dreamers( with no or little money) in droves. Plus, i was emotionally attached to the dam thing


I learned pretty quick. Took a young couple out for a sail as they were " in love" with the boat. No biggie, I like sailing. Somewhere during the trip the young guy asked" what kind of payments was I willing to take". I just chuckled, laughed out loud really. Headed for the barn. I kind of admired the young lad for having the gumption to ask.
Before any more sail trips I asked about the money situation.
So to answer the OP,s question. Go low, have cash ready. Screw coming to a "fair price". " Fair" simply has no place in the buyer/ seller relationship.




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[Reefmagnet]

Something I've noticed in these days of internet buying and selling is that the best approach is simply to ask a seller for the best price they will take. Many will tell you outright. No offer needed if it matches (or even exceeds) your expectations.

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[hamburking]

Originally Posted by brantleychuck

"Low-ballers are shunned. The right selling price is one that is fair for both buyer and seller."


I don't get this. Who are " low ballers" shunned by? I have negotiated the price of things I have bought since I was 14 years old. Is there some type of moral authority at work here. I just do not see where " fair" comes in. I have money, you have something I may want. I offer money you say yes or no. Who loses?

+1.

IMHO, the word "lowballer" is often confused with the word "a$$hole".

You can offer 1% of the asking price without being a jerk....I've done it.

Nothing stops a successful negotiation better than a broker.

[Stu Jackson]

Originally Posted by sailorboy1

Paying the least amount and getting the best value have NOTHING to do with each other! Paying more for something of value is probably a much better deal than paying less for a piece of junk.

Very true.

No all sales are bargains and not all bargains are sales.

[hamburking]

Originally Posted by Reefmagnet

Something I've noticed in these days of internet buying and selling is that the best approach is simply to ask a seller for the best price they will take. Many will tell you outright. No offer needed if it matches (or even exceeds) your expectations.

+1.

I recently sold my boat. I was asked this question several times ("whats your best price"), and I answered honestly. In fact, that was the price I eventually got.

Also, I enjoyed taking potential buyers out for a "test sail" or sea trial, even knowing they had neither the intention nor the money to buy. They thought they were getting a "free sail"....but to me, I was getting "free crew".

Sadly, some of them had such a good time, they might now need to buy a boat for real.

BTW, in addition to posting my boat ad on kijiji and at my local marina, I posted the ad here on CF. Some CF members came for a sea trial, which was just fantastic. Thanks CF!

[olaf hart]

Changed boats a couple of years ago.

The new one found me, and the owner kept dropping the price as he had an issue with space for a new race boat.

In the end the price was too good to pass up, had to promise to send all correspondence to his office so his wife wouldn't know what he sold the boat for.

So then I sold our boat, it was well sorted, new motor and rig, and it went on the market for a highish price.

I left it there while I sorted out the new boat, once I was ready to move it seriously I dropped the price by 20% and it sold in a week. The higher price matched the condition, so the discount looked like a good deal.

In the end, the prices matched so the deal was a straight swap.

Recently picked up another boat in a distant place we want to cruise for a few years, owned by someone we know who bought a new boat and in mint condition, newish motor and rig, I was happy to pay the asking price as I knew the cost and time issues of sorting a boat, and wanted something turnkey at the other end of the planet.

It was a 30 footer, not sold for serious money, and mutual friends sorted out the transaction and are keeping an eye on the boat, so the value to us was a lot more than a fair price.

Ended up discounting the price by 10% after the survey.

So that's my story, different deals for different reasons, it's about a lot more than the boat price.

[Terra Nova]

Originally Posted by Reefmagnet

...my strategy has been to start the price at the higher end of the range to test the market and then progressively drop the price...

In selling a yacht this strategy makes the listing "go stale." The boat languishes on the market for a long time, with ongoing expenses mounting. And buyers keep seeing the ads for this over-priced boat. By the time the asking price drops to a reasonable range, potential buyers no longer pay it any attention and wonder what's wrong with it.

[Mike OReilly]

Originally Posted by hamburking

IMHO, the word "lowballer" is often confused with the word "a$$hole".

You can offer 1% of the asking price without being a jerk....I've done it.

Lowballers are not necessarily jerks, but in my experience of boat selling, the two categories certainly did overlap too often.

I have no real problem receiving (and usually ignoring) a lowball offer. No real sweat of my brow. It's the ones who insist on doing the sales dance, and hence wasting my time, before dropping their crappy offer. It's the ones who think they know more about my boat, my circumstances, my motivations... these are the jerks.

If you're a lowballer, then don't waste my (and probably your) time. Make the offer right up front. If the seller chooses to carry on, then it's all good.

[Reefmagnet]

Originally Posted by Terra Nova

In selling a yacht this strategy makes the listing "go stale." The boat languishes on the market for a long time, with ongoing expenses mounting. And buyers keep seeing the ads for this over-priced boat. By the time the asking price drops to a reasonable range, potential buyers no longer pay it any attention and wonder what's wrong with it.

The idea is to fish for the perfect buyer. If someone likes the boat, they'll keep an eye on it regardless. My last boat sold in less than 6 months. I'd allowed 12 as was in no hurry to sell.

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[daletournier]

Supply and demand always dictates. What I see in the boat market currently, and can't see it changing is to many boats not enough buyers. I look at my own boat( Freedom )and the mast ( carbon) and engine are worth more to replace than what I could sell the boat for. Value is really only what the market determines it is. When I come to sell my boat, if there is only one offer and I genuinely want to sell, well that's what's it's worth. The market is overall ,so you pick it up on the other end again when you buy.
Cheers Dale.

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