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Old 08-03-2013
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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.
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