Opening Cash Offer . Minus 30 Percent of Asking Price ?

[Multihull]

What would be a good opening offer and where will you end in the current market.
I notice that (some) asking prices are dropping. Making it more difficult to decide on your first bid.

I think 30 percent to start and at least 15 percent for the final offer. ?

Rob

[smj]

There's no set rule. Some people are asking top dollar and others are offering for a really great deal. You have to decide what the boat is worth and offer accordingly.

[Navicula]

I put an offer of 60 grand on a boat that was asking $120,000.00 a year and a half ago........it came back at 85,000............I went to 70,000, and they came back at 75,000............I walked away from the deal............

20 months later (2 weeks ago) my wife and I went back to have a look at the same boat for sale and they had dropped the price to 75,000...........I wrote a check for 40,000.00 and they took it....................I think I over paid by about 5 grand..........


offer what ever you want...........forget the percentage.....what ever you feel is right.........dont forget, it cost money to keep looking for boats.....we spent at least 5 grand in trips to florida and the east coast to look at what we thought was junk, only to find what we really wanted was right here in town

good luck

[Factor]

My advice to sellers is to always price at just marginally below fair market value and accept the first sensible offer.

My advice to buyers is make a sensible offer.

[tuskie]

Originally Posted by Factor

My advice to sellers is to always price at just marginally below fair market value and accept the first sensible offer.

My advice to buyers is make a sensible offer.

"MARKET" means what things are selling for. Using your definition, most sellers in Australia are asking 50 - 100% above that value.

Buyers will, in many cases offer what they can AFFORD. Whether this is "sensible " or not is pure conjecture.

[bstreep]

As others have noted, you first need to decide what the boat is really worth. Some are priced well, others are over priced. Then decide what is a good offer to make.

I prefer to properly price things from the start.

[motion30]

I just bought a trawler for 45g asking price was 85g original listing was 109g seller was movated the deals are there if you search

[Mike OReilly]

As someone on the selling side (b/c I recently bought), I encourage people to make a bid. I'm a big boy, I can always say no (or more likely, make a counter-offer). What drives me up the wall are some potential buyers who start by asking: "What is your lowest price?" Make an offer! We'll both find out together .

Originally Posted by bstreep

As others have noted, you first need to decide what the boat is really worth. Some are priced well, others are over priced. Then decide what is a good offer to make.

Ah, the old "what something is worth" dilemma. What is anything really worth? Things like boats and houses aren't priced based on rational measures (cost of production, for example), they are market-driven items. What is something worth you ask? It's worth what someone will pay.

It has little to do with reality (as our current economic malaise demonstrates), it's all about perception.

[Boracay]

I doubt if you can assess the "value" of a boat without going and looking at a large number.

If you're looking at a boat that has been on the market for many months or years then it'd be fair to assume it's overpriced. If you look at one that sells a short time after you looked then the pricing may have been closer to "value".

[kthoennes]

Well, like the first responder, we offered 50% of asking. The seller told us to take a hike. We waved goodbye and kept shopping. About a month later the seller called us and said we could have the boat, if our offer still stood. But really, who cares about a percentage. Offer what you're willing and able to pay. If the seller is offended, who cares.

[motion30]

A broker told me dont worry about offending the seller I will offend him Make your offer

[Mr B]

Offer what ever you want to, The seller will either say yes or no,

[Ex-Calif]

Originally Posted by kthoennes

Well, like the first responder, we offered 50% of asking. The seller told us to take a hike. We waved goodbye and kept shopping. About a month later the seller called us and said we could have the boat, if our offer still stood. But really, who cares about a percentage. Offer what you're willing and able to pay. If the seller is offended, who cares.

There is a backhanded way of making a lowball offer that is not insulting.

"I really like your boat. Honestly it is above my price range. I don't want to insult you but if at some point you need to come down in price to move it I can go as high as XYZ minus anything significant found on survey."

Nothing wrong with planting acorns.

It is not a good strategy to bad mouth the boat in hopes the seller will be convinced he priced it too high.

Remember most sellers are selling their baby and they, like the buyer, don't buy and sell everyday. Their perception of the boats value in the market may be way off. Only after recieving some offers will they start to realize what the market will bear.

OTOH there is a guy here with two boats. He gets low ball offers, knows the market is not great and is willing to wait as long as it takes for the market to come back. I am sure it will eventually sell but in the meantime he is paying morring and cleaning costs. At some point even he will reach a point of diminishing return.

[Dockhead]

Originally Posted by smj

There's no set rule. Some people are asking top dollar and others are offering for a really great deal. You have to decide what the boat is worth and offer accordingly.

+1

Some boats can be bought for 25% of the original asking price. Some boats can't be bought for one dollar less than the asking price. And everything in between. It all depends on the boat, how it was priced to begin with, the seller and how motivated he is.

Some boats are in plentiful supply, and there are more for sale than there are real buyers. All you need is one motivated seller in a market like that and you might find a great deal.

Other boats are not in such plentiful supply. There are more buyers than sellers. Prices are firm, and you even see bidding wars from time to time. This is the case with a lot of high end boats right now, at least in Europe.

[Rhapsody-NS27]

Lots of good advice here. In a few months, I move back to the US and start my search. I'm already making a watch list from different sites. This will be fun.