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Go Back   SailNet Community > On Board > Boat Review and Purchase Forum
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  #11  
Old 08-26-2007
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I would say you should be prepared to pay 10-15% below asking so your offer should be less than that. That being said you need to look at how long the boat has been on the market and judge how anxious the seller is. You could end up doing better that 10 to 15%.
ThrueBlue,
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  #12  
Old 08-26-2007
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Thanx teshannon - doesn't appeal to everyone (as demonstrated by GREGG < g > ) but it does have a strong cult following. There's a definite market.
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  #13  
Old 08-26-2007
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Insult Bids

While I financially agree with Insails statement, you also don't want to come across as someone who isn't serious if you really are serious about the boat. If you work with a broker and you consistently come in with low ball offers, he isn't going to take you seriously and may not want to work with you. He's got to make money too and if you constantly come in with offers of 50 cents on the dollar, if I was acting as your broker, I'd stop sending leads. His time is valuable as is the sellers. If you ask the broker who is representing the boat upfront about the boat's condition and why it is being sold, I found that most will be honest and tell you. Use that information to make an offer that is inline with the cicumstances.

Similar process in my real work. We work with a lot of headhunters and recruiters. We spend lots of money upfront with them to educate them on positions that we have so that they can help select potential candidates for positions in my company. We expect them to present us with only the most qualified candidates. They are paid to screen out the non-qualified. If they just send us every resume that they receive, we soon don't read their submittals and eventually stop working with them.

I would use the insults bids more if you are dealing with the seller directly. He is more likely to take as now he doesn't have to pay the broker.

DrB
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  #14  
Old 08-26-2007
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The 10% to 15% depends on where they are starting.
I've been looking at a particular boat for about 6 months now. They are going for around 200,000. A very nice one came on the market for about 170,000. By the time I called the broker he already had a full price offer and 2 in reserve! 10% would have been laughed at. Meanwhile another of the same boat has been sitting for a year at $235,000 and isn't worth 180,000. So would you offer 10% off the 235?

Boat US has a buying guide service and will give you a pretty good ballpark number for recent sales. BUC also has this as does NADA. The three should be in the same ballpark and that will tell you where to focus your pricing.
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Old 08-26-2007
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  #16  
Old 08-26-2007
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Individuals normally don't get insulted..
Now brokers seem to get more insulted by the mention of the word surveyor than they do by a real low offer..How many times have you seen brokers list a boat for 50k then when no offers they lower the price? I have seen far too many brokers on Yacht World lower their price after time goes by by as much as 30%. So in reality the broker is insulting the buyer with his over priced price to feed his pocket..Keep in mind they love 1st. time buyers just for that reason.
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Old 08-26-2007
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Thanks for the replies all. Dr B great answer thanks for taking the time to give me a well thought out and informative response. I appreciate it. I figure to be ready to buy around November which will hopefully work in my favor. My biggest problem seems to be deciding on the boat. I plan to liveaboard for years playing music up and down the east coast. Half of me wants to buy a mid 90's bene, hunter, or 88 pearson 37-2 for the layout and comfort when not sailing the other probably smarter half says to go for a westsail because with my limited shorthanded experience I'll probably kill myself with in 6 months so I figure I'm better off with a heavier boat. The last part I'm kidding about, I hope.
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Old 08-26-2007
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True blue I probably can't afford your boat either but for the right price I'd be willing to insult you. And they are nice boats.
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Old 08-26-2007
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Xort,
Good point. I'm making the assumption the boat is priced at fair market value?to start with. I agree with the comment also that you don't want to be submitting low ball offers all over the place or you'll not be considered a serious buyer. I guess in the end it's whatever feels right for the situation.
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Old 08-26-2007
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So the consensus seems to be 10 to 15 % to purchase so I figure I start around 20 - 30 % first bid unless it's a case like xort's or I really want the boat and can't walk away which I don't se happening. Dr B I agree with not alienating the brokers but as a real estate broker for the past 13 yrs it might be fun for me. Lol. Thanks again all
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