Selling my boat -am I crazy? - SailNet Community
 
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post #1 of 6 Old 06-26-2012 Thread Starter
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Selling my boat -am I crazy?

1976 O'Day 25', at in demand marina in Buffalo (very cheap fees, great view, 70 person waiting list)

Bought boat for $2500, no marina fees included a few years back.
Put boat for sale this year, $4500 summer marina fees included (summer is $1000).
No offers. Relisted at $3500. Guy made offer of that, shook on it, he backed out two days later. Should have gotten deposit.
In the meantime, two of my friends that I share the boat with and the fees, they dropped out -had to refund fees because they were under understanding boat was sold.
Guy offered $2500. Considering it includes summer fees, I feel like this is crazy lowball offer. I'm going to take it if no other offers by then. Am I nuts? or take the money and run?
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Re: Selling my boat -am I crazy?

Can't sell the slip, already checked.
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post #3 of 6 Old 06-26-2012
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Re: Selling my boat -am I crazy?

So it comes without the slip? If the boat is in reasonably good condition, I think you should hold out for more $. I spent all winter traveling and looking at boats, prices vary by SEASON, if you could hold on to next spring and pretty it up, I bet you will get the $4500.
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post #4 of 6 Old 06-29-2012
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Re: Selling my boat -am I crazy?

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post #5 of 6 Old 06-29-2012
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Re: Selling my boat -am I crazy?

The tough thing about boats in this price range, is an unexpected repair could substantially exceed the discount you are contemplating. In fact, in the extreme, it could exceed the value of the boat.

The more important question about selling is whether you plan to buy another. If yes, don't become a fleet owner. Sell first. If no, that's unacceptable and you should not sell.


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Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.
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post #6 of 6 Old 06-29-2012
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Re: Selling my boat -am I crazy?

I just sold a 1977 O'day 22. It took well over a year to sell, maybe even closer to 2 years. I started at $5500 for a while got a few calls and one guy came to look. then nothing for a while. Lowered to $4900 got some sporadic interests but no offers and then it happened. I got a very nice lady, seriously wanting a boat she could feel comfortable about. Mine has 4 year old sails, 4 year old motor, 4 year old standing rigging, new side birth cushions....blah blah blah. In short, she looked at it and a bunch of others, liked it best, we came to an agreement of $4300 and she didn't want the trailer.

I guess what I learned is that if you wait for the right buyer for your boat you should get close to what it is worth. Of course, mine was on a trailer in my yard so, no fees were piling up and I could afford to wait. In the end we were both happy. I got about 50% what I invested in the boat (not including any of my labor) and she got the advantage of all that new stuff and worry free sailing.

I guess the difference here is that the longer you keep it the more it costs. If your intent is to stop the outlay of funds to own this boat, you may have to see it as a bird in the hand...However, it is the season and it is paid for the season. If your boat is in good shape, someone should come along that will appreciate that. The latter is a gamble though...

Regards,
Danny

Last edited by SloopDogg; 06-29-2012 at 08:28 AM.
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