What Percentage Under Are People Offering...? - SailNet Community

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  #1  
Old 04-26-2009
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What Percentage Under Are People Offering...?

I know this a tough question to answer, but maybe there's a general trend in today's market of sailboat buying that people are following. I really don't like bargaining, but I'm in the position of being priced out of the market on a boat that's "owner-valued" at something under 100K. The NADA value is less, but these boats have typically sold for about the current asking price.
What would you do?
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Old 04-26-2009
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Nobody says you have to bargain. if you see a listing for a boat you like but you think the price is too high, just cross it off your list. Problem solved. Re-read your own post, and think about it. You don't like bargaining, but you feel that every boat for sale that you like is overvalued. You have choices- pony up, shut up, and go sailing, grumble, complain, walk away, and stay on the hard for another season...
or learn that negotiation is a skill that can be learned, and is rewarding for both buyers and sellers. But a little realism doesn't hurt.
You know what funds you have available. You know what the boat of your dreams is listing for. if there are a few comparable dreamboats for sale, you can get an idea of how realistic pricing is. look at listings and see when they were last updated.
But don't be an idiot. if you have 50 k available in ready funds today, and all of the boats you are drooling over are running 100K plus, then man up and shut up. Nobody is selling their boats for half of list today unless a) they are realllly desperate, b) the boat is worth less than half of asking, or c) the wife got it in the settlement, and they don' t take boats as collateral at Saks.

having said all of this, I would not hesitate to offer 55%, as long as my broker knows that this is "not a take it or leave it" offer, and to convey that to the seller. your first offer simply gets the boat in play.

You offer 55%, they come down to 90%, you offer 65%, they come down to 90%, you meet in the middle at 75-80% , everybody feels it is a great deal.
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Old 04-27-2009
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Why would you tell the broker it's not a take it or leave it offer? That just lets the seller know you'll pay more ...

Bid low, see what happens. The worst they can do is say no.

It's a lousy market for sellers, if there's a bunch of boats you like, just move on to the next one, until you find somebody willing to sell low.
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Old 04-27-2009
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I appreciate your replies. I'd be financing this puppy. Not having bought such a large toy (that I actually plan to live on), I'm not familiar how the big-boat buying game is played. There are more variables to consider when buying a boat compared to buying a car. There's value and there's market price. The two can be further apart regarding boats because it's not like there are only a few used Hondas to choose from in a 300 mile radius from where you live. In my boat search, there are only 2 of this type on the entire west coast that are for sale and only a handful more that exist out here.
I'll be throwing in an offer...after I visit the other one for sale that actually is priced way high.
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my 2 cents

I read a quote somewhere... (i think it was in Don Casey's This Old Boat) regarding making an offer.. it went something like this:
"make an offer of half the asking price but, beware, because they may accept it."

anyway good luck!
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Old 04-27-2009
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Quote:
Originally Posted by LookingForCruiser View Post
...It's a lousy market for sellers, if there's a bunch of boats you like, just move on to the next one, until you find somebody willing to sell low.
I suggest you remember what I think is a fundamental about the boat buying process - it is a very unequal process, the seller tends to have perfect information, knowing everything worth knowing about the boat, while the buyer will have less than perfect information, either way less if no surveyor is involved, or only partially incomplete if a good surveyor is used.

The result is that in most boat purchases the seller is far more likely to get a good deal, i.e. more money than deserved given the real condition of the boat. And this is particularly true when the boat sale is at an apparently below market price, the seller is likely equipped with knowledge as to why he is making out like a bandit, even as the buyer thinks he's made a killing, a regular Donald Thrump.

Even in today's slow boat market, the best you can expect in a boat purchase is to get what you pay for...
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Old 04-27-2009
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Condition trumps all! We currently have a contract on a boat and are awaiting survey and sea trial. We offered about 10% above market because the condition of the boat is about 90% above market.

That being said, we have made offers on other boats that we're accepted at almost 30% off of asking/market. Survey showed these boats weren't worth even the discounted price so we passed on them.

Nada values are low, Buc is a little more reaslitic. Are you working with a buyer's broker? The only added benefit they can offer is that they have access to Boat Wizard, which tells you what these boats have been selling for recently. If you are looking at very rare boats, you don't really get much information as there aren't enough models sold to give solid pricing info.

Do your homework. Find out what the market value is but in the end, a boat is only worth what you are willing to pay. I personally wouldn't expect much positive response from a seller if you offer a really low ball offer. Sellers can get really offended and the ones who don't have a realisitic view of what their boat is worth tend to be the first to be offended. If a boat is not marketed at a realsitic price, chances are the seller does not have a firm grip on reality and you are better off looking elsewhere, there are lots of good boats out there you just have to look a bit!

Good luck!
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Old 04-27-2009
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When I was looking one guy wanted 16k the other 11k.

I didn't even bother with the higher asking price.
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Old 04-27-2009
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I think it is dangerous to use the seller's asking price as a guide in any way. Just because the seller pulls a number out of his/her ass doesn't mean much of anything, so why would 10% or 20% less than that number mean anything ? Figure out what the boat is actually worth to you and use that to make your offer.
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Old 04-27-2009
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NEVER EVER think in terms of a fixed percentage. Remember there are liars, dammed liars and then there are people selling boats.

I have travelled hundreds of miles to look at a boat "above average sailaway condition" to turn around without getting out of the car. The engine was sitting on the deck covered with the bottom of the cockpit which had been removed with a chain saw.

REGARDLESS of the asking price set your own value, then offer about 75% as a starting point. Remember it is very hard to come down on an offer, you can always go up.
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