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MaryRoseErie 06-26-2012 06:22 PM

Selling my boat -am I crazy?
I bought an O'Day 25 1976 for $2,500, which included no marina fees in April a few years ago. Sailed it a bunch but now have friends with boats and need the money.
Figured I wanted $3500 since I just paid $1000 in Summer fees. Listed it at $4,500 thinking people would haggle. Lots of looks, no offers. Dropped it to $3,500 thinking I'd just cut the bull and see if anyone took it.
Someone offered $3,500, shook on it, but then bailed two days later. I'm sharing marina fees with a friend and he bailed too, found a new boat share. So I have to pay him back since I told him I sold it.
I'm in a bind and someone offered me $2,500, which is what I paid originally but now have to pay back my friends since he shared the marina fees. This is a very in-demand marina - wait list of 70 people, cheapest in the city and a great view.
I'm pretty sure I'm taking the offer, but tell me - is it stupid? Could I get more? Or should I take the money and run?:confused:

tommays 06-26-2012 06:35 PM

Re: Selling my boat -am I crazy?
To get what what you paid UNLESS you have done a BUNCH of improvements is about as good as it gets

The fact that it cost me several thousand dollars a year to move and store the Cal 29 does not change its market value

On the other hand the 2011 survey with all the new stuff sets it apart from the other Cal 29s

hellosailor 06-26-2012 06:42 PM

Re: Selling my boat -am I crazy?
tommays, I agree with you but disagree with your math.

She paid $2500 for a boat.
She paid $1000 for a marina slip.

Now she's asking if it is unreasonable to ask $3500 for the combination.

If she sells the combination for $2500, she's only getting $1500 for the boat. That's not what she paid for it, it is closer to half.

So, either she overpaid for the boat, or she should sell the boat with a slip, for more than the price of the boat "bare".

Might sell the boat for $2500 and just sell the slip separately, if a buyer doesn't want to pay for it.

puddinlegs 06-26-2012 06:43 PM

Re: Selling my boat -am I crazy?
Yep. Moorage is rent as is winter boat storage. You don't get it back. Take the $2500. You told your boat partner you sold the boat. Honesty is the best policy. Hopefully you won't lose their friendship, but you should truthfully let them know what's happening and negotiate something with him/her. Maybe boat work and cleaning for them if you're really strapped.

tommays 06-26-2012 06:54 PM

Re: Selling my boat -am I crazy?

It not clear form the OP what happens to the slip ? as it does have good amount of time left

HERE you CANNOT actively sell your boat in rented slip or mooring without paying a commission and they do NOT transfer to a new owner for free if at all

You would have to be very discrete and that would pretty much kill any slip transfer

MaryRoseErie 06-26-2012 06:55 PM

Re: Selling my boat -am I crazy?
Slip transfers to new owner here, but cannot sell slip to someone else.

hellosailor 06-26-2012 07:02 PM

Re: Selling my boat -am I crazy?
So if the boat sank and burned and was hauled away, you'd still have the exclusive rights to the slip, even though the boat no longer existed?

I could see the marina having the right to buy it back ahead of anyone else, but forcing you to keep a slip without the boat? If that's what your contract still might not be legal.

"Yep. Moorage is rent ... You don't get it back. "
Not so simple. If you have a lease and end it early, often you pay only for the next month, you don't pay for the rest of the original time. And if you leave early, often you still have the right to let someone else stay in your place for the time it has been paid for.

Telling someone "if you go, WE get it back and we rent it to someone else so we get to collect rent TWICE on the same spot"...that would be illegal in many parts of the US. Either you're entitled to keep using it, or you're entitled to get something back. A contract for anything less reasonable would be ruled void and unenforceable in many states.

It may not be worth being the poster child for "correcting" your marina's contracts, but it may help to know how most of the US would read this.

captainrizzo 06-26-2012 07:03 PM

Re: Selling my boat -am I crazy?
Mary, maybe you should counter for $3,000. I don't know your situation, but it sounds like you could do better. Just say'n.

MaryRoseErie 06-26-2012 07:15 PM

Re: Selling my boat -am I crazy?
He was super firm at $2500. Super lame.

MaryRoseErie 06-26-2012 07:19 PM

Re: Selling my boat -am I crazy?
Well, if my boat exploded I could buy a new boat, sell the boat to someone else, and then transfer the slip to him. But since there's a waiting list of 70 people, I can't sell the slip itself to someone else. Besides, the guy offering me 2500 offered that with slip included.

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