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-   -   How much can you bargain (http://www.sailnet.com/forums/boat-review-purchase-forum/31039-how-much-can-you-bargain.html)

saurav16 04-02-2007 10:15 PM

How much can you bargain
 
Hello again,

I was wondering, for boats under $10k how much have people bargained the price down prior to survey of course. I know it depends on the age, make/model, and condition of the boat but just wanted an idea. Thanks for your help!

PBzeer 04-02-2007 10:21 PM

The main thing is .... how much is it worth to you? That should be your starting point, regardless of the asking price.

saurav16 04-02-2007 10:23 PM

Well the boat is almost worth the asking price its just that my budget is tight thats all. Thats why I was wondering what the standard reductions are for boats.

PBzeer 04-02-2007 10:29 PM

There's no "standard" deduction. Make an offer that works for you, or even a bit less, and they will either reject it, or counter offer. Final price won't be set till after survey, and will likely be less than the agreed on "offer" price.

sailingdog 04-02-2007 10:29 PM

Basically, your starting price should be what the boat is worth to you. Either they will accept it, counter offer, or laugh at you and tell you to go away.

After the survey, you should come back with a price that is what the boat is worth to you minus the costs of doing any repairs that you found on the survey, minus what it will cost the people if they don't sell the boat—like winter storage fees, haulout costs, etc...

Either one of three things will happen. 1) They laugh at you and tell you to go away. 2) They counter your offer. 3) They accept it.

If they counter it... you can either accept it or counter with a slightly higher offer. And so on until either you laugh and walk away, they laugh and tell you to go away, or you end up owning their boat.

If you're not prepared to walk away... you really should just accept their offer... walking away is the strongest weapon you've got.

sailaway21 04-02-2007 10:38 PM

For the non-Dutch amoungst us: If you are not secretly embarassed by the offer you are initially making, it is too high. When you are turned down, walk away, making sure they have your telephone number. Boats don't usually sell really fast. Wait 2-3 weeks, call them up and ask if they have re-considered your offer. Then "imply" that you might have a little wiggle room, but would need to look at the boat again. It doesn't hurt to show up with the money in cash. It will be imperative to get a signed receipt if you pay in cash. The sight of a wad of greenbacks, which might be construed by some as unreported income(!), has swayed more than one seller.

All those "killer deals" you've heard about-well that's how they got done. The seller has to want the boat gone, and be under the impression that you are willing to walk away.

sailingdog 04-02-2007 10:43 PM

Quote:

Originally Posted by sailaway21
For the non-Dutch amoungst us: If you are not secretly embarassed by the offer you are initially making, it is too high. When you are turned down, walk away, making sure they have your telephone number. Boats don't usually sell really fast. Wait 2-3 weeks, call them up and ask if they have re-considered your offer. Then "imply" that you might have a little wiggle room, but would need to look at the boat again. It doesn't hurt to show up with the money in cash. It will be imperative to get a signed receipt if you pay in cash. The sight of a wad of greenbacks, which might be construed by some as unreported income(!), has swayed more than one seller.

All those "killer deals" you've heard about-well that's how they got done. The seller has to want the boat gone, and be under the impression that you are willing to walk away.

I agree with the first point... but showing up with the money in cash is questionable. Depending on the boat, and the price... could be pretty risky. A check is usually a better way to go... since you can get mugged for cash and have little to prove it was yours... ;)

DrB 04-02-2007 10:57 PM

Don't know how to answer your question withan actual number, but the walking away part is critical. Also have an maximum limit and stick to it. Don't get caught up in the "What's another $100, $1000, etc. when I am spending X dollars" philosophy. I call this "Boat Price Creep" or "Ebay Bidding-itus". Pick a number and don't budge from it.

FWIW, my wife and I made an offer on a boat that we are intersted in. The original price was X dollars. The price dropped recently to 88% of X dollars. We offered about 73% of the original asking price or 80% of the reduced price. The offer was final and firm, as in I won't up my offer if a counteroffer comes.

I have been instructed by many people that have bought and sold boats, that your intitial offer should be 65 to 75% of the asking and pay no more than 80% of the asking price. For this particular boat, I have seen it listed for as much as $15K more on YachtWorld.com for a similarily equipped boat. So, if our offer is accepted and the boat passes the survery, I feel that we got a good deal.

DrB

saurav16 04-02-2007 11:19 PM

Thanks for the responses, I think offering 70% of the asking price is a good idea. So if they say no just walk away? Then call them back a few weeks later to reconsider? What if the counter offer with in 95% of the offering price? Do you walk away again for the 2nd time and forget about the boat?

sailingdog 04-02-2007 11:31 PM

Setting a fixed ceiling that is a firm line in the sand so to speak is very important... If you know what you can afford to pay... don't go above it, and by all means, try to stay as far below it as you can.

If they aren't willing to budge, there are plenty of other boats out there. Most boats have several close competitors that are very similar in build quality, sailing characteristics, and price.


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