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post #3 of Old 01-21-2013
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Re: How Much Should I Offer

I am in the process of purchasing a boat now. I went to NADA and looked at boat prices, but I have been told that these prices run low. I also looked at for an average listing price. By comparing the NADA and list prices I was able to get a number for my initial offer. The Broker looked at the last three years of ACTUAL SALES prices for the make and model boat on Yachtworld (info only brokers get to see...) and my offer was in line with the average sales price over the last three years.
Based on survey results, the owner and I negotiated a lower price than my initial offer.
The standard contract allows the buyer to walk away after the survey (AND sea trial!) if the buyer doesn't like the results.
You NEED a survey!!! (AND a sea trial!!!)
Ask the broker for "comparables" other vessels of the same make and model that have sold in the last couple of years.
Don't get fixed on a percentage of list price. IF the boat is listed for a lot more than they are selling at, offering even 75% of list may have you overpaying. You need to do some homework. This is not a small investment and unless you walk on water, your life could depend on getting it right.
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