Originally Posted by datswite
I'm considering the purchase of a 1981 Morgan 38. The survey was today. Overall, the boat is in above average condition with the following exceptions - and some blisters.
1. Bent blade on engine prop
2. Needs cutlass bearing
3. Needs prop shaft
4. Leaky seals on Perkins 4-108 (1440 hours)
Here is my question. Should I walk away for blisters? Or, should I negotiate? The largest visible blister was no larger than a quarter and there were many (probably 50-75 - only on the starboard side).
I took the liberty to hi-lite. You did say above average, sorry.
Either way, I knew my words would sting. Take them at their worth to you.
I recently had two boats surveyed, identical model racer/cruisers, 1988. Both started at just under 40K.
Boat A made an offer of 30K before survey, upped it to 32K, pre survery, both offers rejected.
Boat B made an offer of 32K pre survey. Post survey boat was offer of 22K, rejected.
Returned to boat A months later and paid for a survey. offer of 27K was accepted immediately.
Boat B one year later is listed at 26K
Lesson here is what people are asking is seldom related to the boats actual worth.