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Go Back   SailNet Community > On Board > Boat Review and Purchase Forum > troubling news..
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Topic Review (Newest First)
02-25-2013 06:35 PM
TakeFive
Re: troubling news..

Quote:
Originally Posted by olson34 View Post
Even the selling price data on the "soldboats" site is only as accurate as the honesty of the broker making the entry...
I agree, but I do wonder what motivation brokers have to inflate the selling prices of their boats. They benefit far more from volume than they do from price increases. The price elasticity curve is likely to reward a 5% price decrease with a 10% volume increase. So the ones who are both smart and unscrupulous would have an incentive to understate their selling price. That would encourage future sellers to lower their expectations of a final sales price, and thus increase volume, which benefits the brokers. (FYI, it was a broker who told me this.)
02-25-2013 06:33 PM
JimMcGee
Re: troubling news..

Now back to our regularly scheduled program

Denise, if your boat is as nice as it sounds from some of your posts I doubt you'll have trouble selling it. You might try putting the word out at the yacht club that you're kicking the idea around. You never know who might be interested.
02-25-2013 06:29 PM
JimMcGee
Re: troubling news..

Jim, I've been hearing around the marina that BoatUS has done a good job servicing boat claims' but haven't heard positives about many others. You also hear some real horror stories.

Take it all with a grain of salt as you only see a subset of people who happen to be working in the yard this time of year and a lot of what you hear is third or fourth hand. This spring when everyone is around will be telling.

It might be interesting to set up a survey for people with Sandy claims to gauge their experience with insurance companies. It would be useful to out the bad ones.
02-25-2013 11:52 AM
jimgo
Re: troubling news..

That's interesting, Jim, because a PopYachts broker on the Chesapeake, and three brokers on Barnegat Bay said they've been seeing insurance checks. Of course, brokers are trying to stimulate demand and may exaggerate a bit when chatting to a prospective buyer.

I'm editing to add: I do agree with your assessment regarding new boats. From what I've heard from the brokers (and again, it's not exactly from the most disinterested of sources), the people with insurance money (like me) generally have a perception of a soft used boat market, and are using the money to "buy up" either in size or quality.

I've been searching for a replacement boat since November, and I can tell you that I've seen the nice boats get snatched up. As you mentioned, the fact that his boat has been on the market for so long suggests to me either a) it's a real dog, or b) he hasn't done a good job advertising it.

Denise, from what I've read of your boat and your personality (i.e., your habits for upkeep), I suspect your boat would go for significantly more than his.
02-25-2013 11:48 AM
JimMcGee
Re: troubling news..

Quote:
Originally Posted by jimgo View Post
From what I've heard about the Philly/NJ area, 30+' boats are selling pretty well IF they are in good shape (increased sales are due to the NorEaster and Hurricane Sandy). I'm going to guess that his boat isn't in good condition.
I ran into Tony Tumas (Chesapeake Bay Broker) at the AC Boat show and he was busy as hell with used boat sales. He said he really hadn't seen much demand from Sandy yet. Evidently a lot of people are still wrangling with insurance companies. I don't know that new boat sales are seeing the same kind of activity.
02-25-2013 11:30 AM
deniseO30
Re: troubling news..

Awww Lake, thanks..
02-25-2013 11:26 AM
Lake Superior Sailor
Re: troubling news..

Denise; A good boat is like a good women; & We would not trade you !..........Dale
02-25-2013 11:11 AM
jimgo
Re: troubling news..

Denise, I offered that guy a deal a few months ago, and he snubbed his nose at me. The boat is now on eBay with a starting bid of $5,000.

From what I've heard about the Philly/NJ area, 30+' boats are selling pretty well IF they are in good shape (increased sales are due to the NorEaster and Hurricane Sandy). I'm going to guess that his boat isn't in good condition.
02-25-2013 11:09 AM
chucklesR
Re: troubling news..

I didn't buy my boat for it's resale value.
I bought it for it's value to me (priceless).
02-25-2013 10:38 AM
jameswilson29
Re: troubling news..

If only more people would believe the news reports that the economy is recovering from the recession, we would be recovering from the recession...
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