"You make your money buying the boat, not selling it." - Page 2 - SailNet Community
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post #11 of 39 Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

I like to think about the money I pay for a boat as "parked" not spent. I am, or was, a marine surveyor. I have owned boats for the past 50 years. I never purchased one to "make money" on one. I have been cautious so I wouldn't loose money on one. I do most of my own work, from structural repairs to painting to electronics to engine installs. I like doing it and I know it is done correctly. If I could afford to pay to have these things done at a premium yard, I could find something else to do with that time but I don't have the means.

The real cost of a prospective purchase is something you can get help understanding if you can find an honest buyer broker. Brokers don't just list boats. They also represent buyers in the purchase of boats. They know the market. They know the boats. As much as I hate to admit it some of the best money I have ever spent was on a top professional (read lawyer). A few hundred dollars to get good legal advice is a true value. The same is true of a top professional buyer broker. It needs to be someone you can trust, of course. Someone you have gotten to know and who is known by others you know and trust.

Buying smart doesn't necessarily mean buying cheap or "low". A good boat will return your investment. More importantly it will be a good boat! You want to enjoy the thing! Every day you spend sailing and not repairing comes off the top.

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post #12 of 39 Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

Yes you have more power and control when you buy. Find boats that fit your list of requirements best. Lots of boats out there. Oh and Pat is not your average buyer. He was a very successful salesman and still is, he got your money lol.
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post #13 of 39 Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

Spot on in my opinion. When you buy you need to screw that price down to the lowest possible no matter how much that may offend the sensibilities of the broker or the seller. As was essentially mentioned earlier in the thread every dollar you knock off the buying price is money to be invested and interest to be earned. Alternatively it gives a boost to the cruising kitty.

When we were negotiating price of our current boat two things were said ...

1. You are trying to buy a boat not make new friends.

2. At the end of the day if you think you paid too much and the seller thinks you paid too little then the price was probably spot on.
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post #14 of 39 Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

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Originally Posted by jorgenl View Post
That is very true and a common tactic for some brokers. If a broker is honest and tells the seller what the boat is really worth, some less honest broker will not and end up with the listing. Much better, at least short-medium term, from the brokers perspective to get the listing and let reality play out over time.
Except that if a broker can get you to agree to a lower-than-market price, he gets an easy sale, quick bucks and you're the loser.

The only way to buy or sell a boat is research of your own - as soon as you depend on the "expert" he will play the game to his advantage and he will not come second. Maybe the seller will, maybe the buyer, but never the broker. As they say, if you want to know whether a broker is ripping you, watch his lips - when they move, he's lying.

Know the market before you talk to anyone.
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post #15 of 39 Old 07-04-2013
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Re: "You make your money buying the boat, not selling it."

Sooner or later your going to just have to "BUY IT".....write the check, finance it, your not getting any younger and it's already the 4th of July....how much more money you going to save or make by waiting?


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post #16 of 39 Old 07-04-2013
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Re: "You make your money buying the boat, not selling it."

Yes, you should buy right. But, lets not take this too far. In its extreme, it is a good reason not to buy at all.

You should be comfortable that what you pay is fair. You will lose money, particularly on care and feeding. I've heard plenty of stories of proud owners who got all there money back when they sold. They fail to disclose the new sail inventory, since they bought.

Before the example of people that swear they got their money back are posted, I'm sure there is a valid one. The point is, some win the lottery.


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post #17 of 39 Old 07-04-2013
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Re: "You make your money buying the boat, not selling it."

Okay, I'm going to go against the grain here ... I didn't buy a boat to make money, I bought it to sail and live on. For me in my situation, there were less risky and easier ways to make money. And when we negotiated our current boat, we realized that price was just part of the equation. We negotiated things in addition to dollars: timing of the sale, improvements and extras, and so on. We found the boat in March but wouldn't have the cash to buy it until August when some funds matured. The seller wanted the money from the sale for grad school and was delighted to have part of the summer to continue to play with the boat. And during that time sellers did many upgrades without affecting the price (confirmed with survey), things like bottom paint, new AC system wiring, new bimini and all new upholstery in my choice of fabrics. Worked out to be a good deal, and good karma deal, for both. We needed that karma as we emailed numerous times with questions.
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post #18 of 39 Old 07-04-2013 Thread Starter
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Re: "You make your money buying the boat, not selling it."

People who buy a boat want to own a boat. The reasons for doing so vary, but the desire needs to be there. But buying a boat is often like buying a car, wear and tear and the elements break them down and they depreciate. The man I quoted has bought many of both. I think his comment was about reducing your out of pocket costs, not a statement about how to get rich.

Until last night, not one boat we've looked at had an asking price more than its original selling price. The man with the quote is smart enough to know most boats depreciate over time, thus my take on what he meant by the quote.
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post #19 of 39 Old 07-04-2013
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Re: "You make your money buying the boat, not selling it."

Quote:
Originally Posted by FirstCandC View Post
The realtor would say, "why are you haggling over such a small amount..."
Reminds me of when I bought a new car several years ago. Got the same line from the car salesman. "It's only $200 difference. Why would you want to lose the deal over that small of an amount?"

"Hm. Good point. So you don't think that $200 is worth losing the deal over?"

"No. Of course not."

"Well, I'm very glad to hear that. And glad to hear that you will accept my offer rather than lose the deal over $200."
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post #20 of 39 Old 07-04-2013
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Re: "You make your money buying the boat, not selling it."

The selling price is much more of a fixed price so unless your lucky and find a sucker you are going to get what your boat is worth. If you are going to make money you have to do it at the end that you control - buy a boat for less than it's worth.

Most of the time it's a neutral situation - you buy and sell at what the boat is worth.
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