Sailboat selling price reality check

[SloopDogg]

Hi Guys,

I'm trying to sell my 22' O'day and I'd like to get a reality check on my ad and my asking price. I'm asking $5500 given all the investments


Here is the link to my ad

1977 O'Day 22' sailboat, motor, trailer

Thanks for the help in advance!

Danny

[Faster]

Throwing out the ridiculous listing of $10K the average ask on YW is $2900 with a low of $1000 for a project. Trying to recoup 'investments' is often a path to long term '2-boat ownership'.

OTOH it doesn't look like those listings include a trailer so if you took an above avg of say 3500 and add the value of the trailer you're not far off.

BTW a better place to put your ad would be in the "Buyers and Sellers forum" - oh.. I also heard somewhere you can get a Viking 33 for $5K so only 22 for the same price????

[SloopDogg]

Originally Posted by Faster

Throwing out the ridiculous listing of $10K the average ask on YW is $2900 with a low of $1000 for a project. Trying to recoup 'investments' is often a path to long term '2-boat ownership'.

OTOH it doesn't look like those listings include a trailer so if you took an above avg of say 3500 and add the value of the trailer you're not far off.

BTW a better place to put your ad would be in the "Buyers and Sellers forum" - oh.. I also heard somewhere you can get a Viking 33 for $5K so only 22 for the same price????

LOL...yea but the Viking needs sails for $5000 and all new rigging for $1500 and THEN all the neglect tended to for the last 6-7 years. Soooooo the Viking is really more like 14K-15K

Also I have more like $7k - $7500 invested

Anyway, The price is negotiable

[SloopDogg]

Originally Posted by Faster

Throwing out the ridiculous listing of $10K the average ask on YW is $2900 with a low of $1000 for a project. Trying to recoup 'investments' is often a path to long term '2-boat ownership'.

OTOH it doesn't look like those listings include a trailer so if you took an above avg of say 3500 and add the value of the trailer you're not far off.

BTW a better place to put your ad would be in the "Buyers and Sellers forum" - oh.. I also heard somewhere you can get a Viking 33 for $5K so only 22 for the same price????

Okay...I took your advice and posted it on the forum.

Geeze, one of those listings on YW world is 3200 with no motor and no trailer and no Roller Furler...

[TQA]

IMHO you are overpriced by about 2k. That is if you want to sell reasonably quickly.

A quick trawl shows lots of comparable boats with trailer and ob for around 3 to 4 k.

Yup yours is in good nick BUT it is not a good market for toys just now.

[SloopDogg]

Wow,

I could probably part it out for that, then donate it for a tax deduction....LOL

The I could use the coastguard package on the Viking

HM....in the end money does the talking

I do appreciate the advice!

[capttb]

When I sold my last boat it was in the water but in a highly visible location with a lot of people walking by. I got many more calls from the giant bright red "for sale" signs than any other form of advertising. Ideally if you could put your boat near the entrance to a harbor, marina or busy ramp on weekends or tied to a mooring or guest dock in front of a restaurant or other busy tourist rich environment you could generate more traffic. There's 9 tire kickers for every real prospect so you got to kiss a lot of frogs and treat them all like princes to sell in a timely fashion.

[CalebD]

There are a few different 'flavors' of the O'Day 22' listed on sailboatdata.com: O'DAY 22 sailboat specifications and details on sailboatdata.com
Which version is yours?

It looks like you have taken wonderful care of yours, whichever sub-model. You should be able to get more then the average price given the clean condition, new engine etc. $5500 is quite high for an asking price though. It is still a 22' sailboat no matter how clean it is or how new the sails, engine etc. are. I'd lower the asking below $5K if you really want to sell it.

Perhaps not a worthy comparison but we got our Tartan 27' about 10 years ago for $4K in sail away condition. The PO was in a '2 boat ownership' situation and paying 2 yard fees simultaneously. Frankly, I think you'd be extremely lucky to find someone who was willing to spend $4K on a used 22' sailboat.

Look at it this way: all the love and care you have given your boat should make it sell very quickly for a slightly better then average price.

When it does not sell at $5500 just keep chipping away at your asking price.
Good luck.

[NCC320]

What you have invested has nothing to do with the current market value of your boat. What buyers are willing to pay at this time will determine what you can get for your boat.

Here's how I did it with my Catalina 22 that I sold. First of all, contact the county tax office and see what the tax value of the boat, motor, and trailer is. Then go to BUC and NADA and get the values there. Next, go to every site that you can find that lists sailboats for sale and see what the asking price is for other boats of same type (brand and model). Plot the results with year of the boat on one scale and asking price on the other. Through this plot of points, draw a straight line that appears to be the mid point (average) of the various prices. Now, look at your year model and see where it falls on the plot. Now, you have an average asking price. Most sellers will have about 10-15% included for negotiating room....i.e. they will take that amount less than the asking price. Now, you have your price. If your boat is really top notch, you can add a little to that.

At this point, you have a boat with proper asking price and a negotiating allowance of 10-15% to move the boat. This makes you equal with all the other Oday 22's, many of which have been hanging around for a long time waiting for a buyer. Really want to move the boat? You've got to make your boat to instantly appear to be a great buy to the potential buyers. Lower your asking price another 10%. Put up web site showing pictures, lot's of pictures. Keep the boat clean with fresh bottom paint and waxed. Highlight all the installed equipment that goes with it and include all the equipment that the buyer will need...lines, anchor, radio, life jackets, mops, brushes, etc. List the boat on lots of web sites. Place the boat in a high visability area where boaters are likely to pass by. Don't do these things, and you may be waiting a long time to sell your boat.

As to what you paid vs. market value, look at the housing situation. To get a house in CA in 2004-2005, you might have paid 450K for a modest house that in today's market, sells for 150K. As I said before, it's what the potential buyer is willing to pay, not what you would like to get.

Good luck in moving the boat.

[emoney]

Usually, in selling anything we own, it's never worth what we think it is. Most often, we're
not 100% honest with ourselves as to value. You've got to ask yourself this question,
and answer it true; what would you pay for this boat from an absolute stranger, right now?
It's difficult to swallow, but the "yeah but I know what I have invested" is not worth near
to a purchaser as it is a seller. You also need to weigh the cost of owning it, meaning how
much hay is the cow eating, and factor that into your asking price. And don't forget that
even though you know the price is negotiable, a lot of buyers do a search using their utmost
highest they'd pay as a filter. So, those people looking for a $5k sailboat may never see
your ad.