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  #11  
Old 08-19-2013
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Re: How much should I offer for this boat

I would simply do my best to help them sell this boat. We all have to learn the hard lessons of life on our own dime.
You are a very kind man, David.
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  #12  
Old 08-19-2013
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Re: How much should I offer for this boat

Don't buy an overequipped/undervalued boat from a friend, if you value the friendship.
At least, not right now.
IF he puts it on the market, IF he seeks your counsel regarding the boat's value, IF he prices it at a price that you are comfortable with, then make an offer- your friend has made the first move. If you offer to buy this boat before he actually puts it on the market, and you set the price based on what you think it is worth, your friend may feel that you are low-balling him, taking advantage of the fact that you know they have had a couple of bad years.

Let him come to you.
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Old 08-19-2013
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Re: How much should I offer for this boat

Yes, deals with friends rarely turn out positive once you get over a hundred dollars. The first issue you run into can be a bone of contention, and would prefer to not deal with friends or family in such transactions. I don't know what the value is, but I think Mainesail is on the right track but could be a bit low but not much. Why are they selling? Thing is unless they find someone like you who is familure with the work they put into it, it is still worth the 3,600 they bought the boat for, with the exception of the new outboard, so I would add the price of the value of the now used outboard and go with that. The rest of the stuff is really just maintenance, but very good maintenance. The only thing on a boat like that that will increase the value is the motor and a new trailer.

It is not like a collectors car where money put into it will increase the value, it just keeps it going. I doubt they were under any allusions that the value would go up much with the work, likely he enjoys the work.
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Old 08-19-2013
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Re: How much should I offer for this boat

Get a marine survey and if the boat checks out, what Maine Sail said. Its an unfortunate reality.
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Old 08-19-2013
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Re: How much should I offer for this boat

Because they are friends and you want to keep them that way, I'd suggest you each get an outside market evaluation and average the two.
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Old 08-19-2013
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Re: How much should I offer for this boat

Quote:
Originally Posted by Maine Sail View Post
The motor can be valued with or without the boat but with the boat it is generally worth less at FMV..
Why is that?
How much would the motor depreciate if it only has a dozen hours on it.

It has an electric start which in my opinion is a very nice but expensive extra that in some sense discounts the motor more because of the installation necessary to move it to a new boat.
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Old 08-19-2013
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Re: How much should I offer for this boat

I talked to her today. I offered my mooring for next season to let them hang on to the boat one more year.
If they have a good year they may be good for a while.

It doesn't really matter how much you put into a boat if you keep it. Any number amortized over 10 years is not so scary.
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Old 08-19-2013
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Re: How much should I offer for this boat

I think Maine Sail's point is that a brand new motor on an old sailboat might only increase the value of the old sailboat by a couple of hundred dollars.

The brand new motor sold on it's own and the sailboat sold with no motor (or an old motor bought cheaply on CL) would probably fetch more than the two together.

Electric start doesn't mean that the motor has to have remote controls. Tohatsu has some reasonably priced electric start motors that work nicely on most outboard powered sailboats. I think they add about $100 to the price and you get the alternator too.
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Old 08-19-2013
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Re: How much should I offer for this boat

DISCLAIMER: I have not read all the posts... nor will I.

What should YOU offer for the boat?: $0 - you don't want it, so don't buy it.

What can you do?: Help him/her/them sell it, by offering them sound objective advise.

I would suggest the following:

They should ask $8K for the boat with the motor (good luck)

Or, try to sell the motor alone for $2K, and the boat for $6K. The money that they spent on depth, speed instruments, cushions, main-sheet blocks running rigging etc. may help them sell faster, but they will not likely recoup it...
Do not buy a boat as a financial investment, but rather an investment in yourself.
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Re: How much should I offer for this boat

Quote:
Originally Posted by davidpm View Post
Some friends of mine have a 1975 Pearson 26. They have had ........
You cannot buy that boat.
  1. You'll piss off your friends if you offer them less than they have in it
  2. It's not worth the sum of what they have invested
There is no win if you offer them what it's really worth. It's best to let strangers, not you, tell them that their going to lose their shirts on the upgrades that they made. Similar boats are not that hard to find and the buyer usually comes out ahead on a properly rebuilt/upgraded boat.
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