Join Date: Sep 2007
Location: Pasadena Md - Magothy side
Thanked 31 Times in 31 Posts
Rep Power: 11
Re: "Buyer's Market" - any data to back it up?
I paid asking for my Irwin - I could have talked him down - but I wanted that boat, then.
I guess that makes it a buyers market.
On the other hand I looked at a Morgan 43 that has been for sale for 6 years - it was a disaster of wet and mildew on the inside - yet was listed for a price that didn't include that. If it's a buyers market obviously the owner of the boat is unaware of it.
During my short search I saw many boats where the broker point blank told me what he thought the owner would settle for - in a lot of cases that was between 60 - 80% of asking. In some cases it was 100% or don't bother, irregardless of how long the boat had been listed.
Lessons learned are opportunities earned.