Fsbo

eherlihy · #1 (**permalink**) 06-03-2009

I wanted to share my latest boatshopping experience with the forum. Comments, as always are welcome!

I saw a boat of the year make and model that I wanted advertised at a rediculous price (200% of NADA average, 150% of BUC) For Sale By Owner. I contacted the owner and told him that my budget was in the 90-100% of NADA range. I asked him in an email "is it worth our talking further?" He replied that he would consider discussions at 150% of NADA.

A month goes by and the boat is still advertised, so I contact the owner to see if it would be possible to take a look. He connects me with a friend of his that will show the boat because he is out of town, and we arrange for me to look at the boat. I drive 500+ miles to look at the boat, and stay overnight at a hotel so that I can see the boat at the appointed hour. The guy that showed me the boat is a nice guy, but he warns me that the owner is 80 years old and "stubborn." I ask him if he has showed the boat much - he's evasive. I ask him if he's showed the boat at all - again he's evasive.

I go through the boat and conclude that it has not been used, other than as a floating condo. There are several issues with the boat, not the least of which is that the keel bolts are badly corroded, the electrical system is mickey-moused (wire nuts and electrical tape connecting the bilge pump, Romex connecting the battery charger to a 110V outlet installed in the rear quarterberth), and when we finally got it started, the engine looked like it was going to jump out of it's motor mounts.

After looking at the boat I decide that this guy is not going to get serious about selling, and so I decided not to follow up. He then contacts me via email. He heard that I liked the boat, and that I took lots of notes. He wants to know if I am "a tire kicker or writing a book."

So, I tell him that I did not want to offend him but shared my observations with him, and that my soft offer at NADA value stands, pending the outcome of a survey.

The guy then gets huffy with me saying that any sale is as is, where is, and that he will now sell the boat to me for 400% of NADA value.

Just a warning to those of you who are boatshopping - there are some real fruitcakes out there! There are real advantages of working through a broker!!

CharlieCobra · #2 (**permalink**) 06-03-2009

Now ya know why the boat is still in an ad....

tager · #3 (**permalink**) 06-03-2009

Just offer him cash. He will take it... and have patience.

eherlihy · #4 (**permalink**) 06-03-2009

Quote:

Originally Posted by tager

Just offer him cash. He will take it... and have patience.

Thanks for the encouragement.

I would have paid cash - but, after dealing with his current reaction, I don't want to be dealing with this guy at all!

There are 8 similar boats currently on Yachtworld that meet my criteria, and are at 100-120% of NADA. I just have to keep shopping.

kd3pc · #5 (**permalink**) 06-04-2009

Keep looking!!

There are some nutcakes out there, and then I guess some who are just ignorant. I was looking at a 2-3 year old 34 catamaran last year, found one at a decent price. Made two trips to see it, around the bay. ALthough I was there at the appointed time, "you just missed him" he was out sailing. I finally got him on the cell phone. When I asked about survey...his answer was "as is, where is" no survey no haul out, no nothing. I said thanks, told him I was no longer interested at any price. (he was asking $125K). Went on my way. Several weeks later, he called and emailed in the same day...he was going to be in my area, did I want the boat, he was prepared to step off. I asked about haul and survey...NO, he says..you don't get the picture...I said no, YOU don't get the picture. Phone calls continued for several weeks, I just let them go.

There ARE other boats out there. DOn't let this fool get to you.

dave

eherlihy · #6 (**permalink**) 06-04-2009

Thanks kd3pc,

I completely agree that there are other boats out there, and this guy is a fool, if not a psycho. Uh, hello?? - The entire world is in a recession, and the used boat market is not where most people are investing what money they have.

It is not like this is a Passport/Valiant or something either. This make has widely been called the "Chevy of boats."

In my detailed response I let him know that; I liked his boat, but his price is way out of line with the market, next week, my wife and I are going to look at 3 other boats in the same/adjoining state that were priced within reason.

Today, I received an email from him telling me that he has slept on my offer, and he will split the difference between his 150% price and what he inferred I would offer. I have still never made an offer, or discussed a specific price. In his mind, we're now at 130% of what NADA says it's worth, and 140% of what it's worth to me in it's current condition. I believe that he is still offering as is, where is. If I were to make an offer, because I would have to deal with this AFOC, I would deduct an additional 10% of the boat's value.

Thanks for letting me vent!

BTW - I am using percentages of NADA, in order to blur the picture to protect the guilty. I realize that the actual value of the boat (or anything else for that matter) is only what any particular buyer is willing to pay at a given point of time.

CBinRI · #7 (**permalink**) 06-04-2009

Sometimes I wonder if guys like this are only listing the boat so they can tell their wife they are trying to sell it.

Don't want to be macabre, but maybe if you can wait a couple of years you can buy it from his estate at 70% of NADA value.

AjariBonten · #8 (**permalink**) 06-04-2009

Quote:

Originally Posted by CBinRI

Don't want to be macabre, but maybe if you can wait a couple of years you can buy it from his estate at 70% of NADA value.

SOMEbody had to say it!!

fullkeel7 · #9 (**permalink**) 06-04-2009

Sometimes I think some owners tack on their 'sentimental value' to the value of the boat. They seem to overlook the tired sails and rotting wood. All they see is what the 'new' boat looked like and the fond experiences they had while aboard. That scenario happened to me with an older owner and her 30' Baba...when there were the attorneys, I passed.

eherlihy · #10 (**permalink**) 06-04-2009

Quote:

Sometimes I think some owners tack on their 'sentimental value' to the value of the boat. They seem to overlook the tired sails and rotting wood. All they see is what the 'new' boat looked like and the fond experiences they had while aboard.

I don't think that that's the case here. I think that the old guy is used to getting his own way, and just likes money.

Anyway, I did reply to his latest email, and let him know that there are other boats in the sea.

I plan to look at several next week.