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post #215 of Old 08-03-2013
davidpm
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Re: What Is A Boat Really Worth?

Quote:
Originally Posted by jorgenl View Post
Here we go again ;-)

Most owners would not have a fricking clue whether their engine would pass a compression test.

You cannot disclose what you do not know.

That is why we have surveys.
I think that what jorgenl was referring to was owners that knew their boat would not pass a compression test because the last deal blew up because the buyer had the compression test done.

Obviously a seller can't divulge information they don't have.
What a lot of people are complaining about is that sellers are not divulging information they do have and and are hoping that a sloppy buyer will miss a problem.

Looking at the opposite side of the situation is that a compression test is often not pass or fail. A cylinder can be low for hundreds of hours and the engine can still run fine for years.

So let's say I'm the broker on the deal (I'm not and I don't play one on TV) and I know that the last deal fell through because the buyer had a compression test done.
Now this boat is 30 years old is selling for 40k, I think it is a good deal. I've been buying and selling boats for 30 years and listened to the engine. Is starts well, has a little white smoke for a couple minutes longer than I would like so I know their is something going on. I also know that an engine can run like that for years and still give good service.

So what do I do?

I tell the first time buyer about the problem that may never be problem and they go and buy a real piece of doodoo from a competitor because the competitor's boat has new cushions and flowers on the galley counter and he knows enough to keep his mouth shut about that boats problems.

I'm sure I will not make that mistake twice.

My position is that a certain amount of ignorance is necessary to complete the sale of a boat. That ignorance can be because of lack of experience or it can be willful. None of us are immune.

The lesson from the Icarus story is not about human failing.
It is a lesson about the limitations of wax as an adhesive.
If you have an engineering problem solve it.
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