Advice on selling our 1994 Hunter Passage 42

Jul 7, 2014
95
Hunter Passage 42 Jacksonville
Hello Hunter Owners!

First of all, this is NOT a for sale ad! We are looking for advice... Please let me know if this isn't the right forum for this type of question...

With a heavy heart, we have decided to sell our 1994 Hunter Passage 42 and are trying to navigate the process as first-timers.

We want to figure out what to do to make the boat appealing to buyers, both price-wise and with regards to repairs etc. I asked a broker for recent sales and found that they range from $25k to $93k. They are all over the place! How did someone sell a P42 for $25k?!

It's the condition I'm worried about -- We are due for standing rigging replacement, the aft A/C died, the house bank (2x 8d AGM) aren't taking a charge, the gelcoat is shot and the acrylic is crazed. The electronics are also about 20 yrs old but they mostly work but have a couple of issues (ST8002 LCD is black but I found someone who replaces the polarizer in them so it could be fixed relatively cheaply.)

Does it make sense to fix these things? Or price it to try to sell it to someone who is willing to take on these projects?

On the other hand, it just got a bottom job, new AGM start battery, new sail, new black-water tank/plumbing, new HVAC in the Saloon, bow thruster and in-mast furling....

We're paying for a slip in a marina in the mean time at a little over $1k/mo plus boat loan payment, insurance, etc... Getting rid of these expenses makes me a motivated seller...but I've never sold a boat this size...do we need a broker? What's the going rate for commission?

Feeling kinda lost here...

Thanks in advance,
Daniel
 
Sep 25, 2008
7,569
Alden 50 Sarasota, Florida
The good news is you are in Florida so it’s a good time to sell. The bad news is that boat is a liability to you now with slip fees, insurance and loan payments so the broker fee becomes a minor concern. A current condition, quick sale and finding a good broker with good references should be your priority. A “condition and value” survey would give you a good market value basis to start.
 
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Jul 7, 2014
95
Hunter Passage 42 Jacksonville
A “condition and value” survey would give you a good market value basis to start.
That is an excellent idea! Seems like it would be a good thing to share with prospective buyers as well as helping me figure out a reasonable listing price. Thank you for that, I'm going to get that done ASAP!
 
Jan 1, 2006
7,738
Slickcraft 26 Sailfish
I would look at the broker question like this: If you can find a broker that will list and market your boat you should go that way. The marketing costs them time and money. Many brokers will not take a boat that they feel won't give them a return on their time and money. Some brokers will take a listing and basically show up at the sale to collect their commission - you don't want that guy! So if you find someone who will list your boat, it should be a time limited contract so you can move on if the broker isn't successful..
Since you self described novices at selling a boat this size I'd favor using a broker. They can screen out the keel kickers, the bottom feeders and the scammers. And guide you with regard to hauling the boat for bottom inspection, sea trials, the boat loan process for the buyer, deposits, contracts, contingencies, the survey, delivery options as well as pricing advice. I've sold a boat through a broker and never met, talked to, or had any contact with the buyer. It was very nice. Last time I sold it was 10%. A number that would make a real estate broker blush. But...
Do expect to hear a high opening price (To draw your business), and a lower final price ("Because the boat has problems").
Take high quality pictures and now I suppose a video. It should be under 5 minutes and I would skip the fluff like music and graphics. People just want to see what they are buying, in my opinion. They don't want a sales presentation.
With regard to seeing what is being sold clean the boat aggressively. Remove all personal items, and clutter in the stowage areas. That means cleaning supplies, buckets, bumpers, extra lines and whatever you don't need for a test sail. Buyers want clean and clutter free. I walked away from a J30 because when I looked in a cabinet to check the thru hull installation, there was so much crap in there I couldn't see the thru hull. I was NOT going to unpack and repack every area of the boat I wanted to see. "Thanks, but no."
Don't forget to make listings in local media and provide online access to pics to potential buyers. I have sold boats with supermarket bulletin board ads. Do you have a sign on the boat?
 
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Jul 7, 2014
95
Hunter Passage 42 Jacksonville
Thank you @shemandr - lots of good stuff in there! Great advice on cleaning the boat up. I really need to think about it from the potential buyers perspective. I've got most of the personal stuff off the boat but left cleaning stuff, extra lines, hoses, power cords, etc etc... And you're 100% right! I need to get that crap off the boat. It would definitely look better to a buyer cleaned up.

I do not currently have a sign on the boat. The marina bulletin board might work for going the FSBO route, but I guess that's where you have to decide if the 10% commission to the broker is worth the exposure for listing it on yachtworld... I don't have it listed with a broker yet.

Thanks again for th tips!
 
Jun 17, 2022
357
Hunter 380 Comox BC
For a selling price below 100k, I'm not sure a broker makes sense. I'd list it on Facebook marketplace or whatever people use in your area, and have an insurance survey handy for a prospective buyer. You will not get back what you put into it, best let the new owner decide what is important to them. Brokers typically take 10 pct, but don't like to take listing below 50k, as it's not worth their time. If your close to the boat and flexible for showings, you're leaving money on the table.

If the gelcoat is shot, you will find yourself in 20-30k territory, irrespective of all the rest.

Make it spotless clean, empty it as much as possible, fix what you can for under $1000, then decide if you want to move on or hold out for the max price....
 
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Jul 7, 2014
95
Hunter Passage 42 Jacksonville
If the gelcoat is shot, you will find yourself in 20-30k territory, irrespective of all the rest.
Well, it's very chalky. The crazed acrylic and chalky decks are the ugliest things about it.

Got a loose quote of $10k to paint the decks and nonskid areas a few years ago and the sticker-shock stopped me from doing it. But, it's probably $20k now with the way things have gone and I should have just done it...

If I had to guess, doing the acrylic (including curved windshield) is probably at least $10k too.

So, I guess I have to figure out if I sell it at "ugly boat" pricing or if it's worth the ROI to repair those things...

I was hoping to get something closer to what I paid for it ($85k), but there seems to be a big drop between boats that are ~20yr old (when I bought it) and ~30 yrs old. Either that or nobody wants mono-hulls anymore...? Is the market dying?

Anyway, thanks for the feedback!
 
Jan 11, 2014
13,315
Sabre 362 113 Fair Haven, NY
The only money you want to invest in the boat is for cleaning products and polishing. Don't worry about electronics, most knowledgeable buyers would prefer older electronics as they will install new electronics to their liking. If you are not up to cleaning and waxing the boat, hire someone to come and do it.

Get all your stuff off the boat. It should be clean and neat below decks. If you have a maintenance log, leave it on the boat.

Don't bother fixing broken or failing items, account for that in the asking price. Do fix small inexpensive things, a broken latch, missing drawer knob, sticky drawers etc. Do clean the bilge and engine room. There will be a negative return on investment for any big ticket items you fix before the sale.

Brokers typically get a 10% commission with a minimum. A good broker will handle the marketing and will facilitate the transaction. They can also sort out the tire kickers from the serious buyers, something as an inexperienced seller you will find difficult. The further you live from the boat and the busier your schedule will make selling the boat harder. As a FSBO you will have to field inquiries and spend time at the marina with potential buyers, this can be quite time consuming and frustrating.

The broker can also handle the negotiations. Since there are some big ticket items that need to be factored into the selling price, expect some low ball offers. A broker will help you handle these offers. A broker works for the seller and is motivated to get the highest price possible for your boat, the higher the price, the higher the commission.

Search Yachtworld.com for similar boats to get an idea of the asking prices and their condition.

Good luck.
 
Jul 7, 2014
95
Hunter Passage 42 Jacksonville
Don't worry about electronics, most knowledgeable buyers would prefer older electronics as they will install new electronics to their liking. If you are not up to cleaning and waxing the boat, hire someone to come and do it.
Great info! Thanks! And you're right, when I'm boat shopping, I am usually not at all thrown-off by electronics b/c then I can choose to install whatever I like...

However, I tried to hire someone to wax it and they refused b/c they said my gelcoat was too chalky and it would only look good for a month or so. He told me I needed to paint it. I've owned boats with gelcoat that was beyond painting, crazing and crackling basically everywhere, this isn't that. It's just chalky with a few random cracks here and there.

The further you live from the boat and the busier your schedule will make selling the boat harder. As a FSBO you will have to field inquiries and spend time at the marina with potential buyers, this can be quite time consuming and frustrating.
I don't live far, currently, but likely will go cruising on our new boat soon...so, that could change. At this time in my life I have more money than time, and I'd probably rather get a few bucks less and have someone else handle the tire-kickers and low-ballers...

Search Yachtworld.com for similar boats to get an idea of the asking prices and their condition.
I already got the broker I'm buying new boat through to get me recent sales in the area -- that's where I got the $25k-$93k numbers in my initial post.

Coincidentally I just got a notification from my insurance company (Geico/BoatUS) that they're requiring a Condition and Value Survey before they'll renew insurance next year. So, as soon as I've got the boat clean I'm gonna start there. Seems it would also be a helful thing to give prospective buyers so they can decide quickly if they want to get into it or not.

Thanks again!
 
Jan 11, 2014
13,315
Sabre 362 113 Fair Haven, NY
However, I tried to hire someone to wax it and they refused b/c they said my gelcoat was too chalky and it would only look good for a month or so. He told me I needed to paint it. I've owned boats with gelcoat that was beyond painting, crazing and crackling basically everywhere, this isn't that. It's just chalky with a few random cracks here and there.
If the hull is buffed first, the wax job won't last long. It is more work and some quality time with a buffer but it can be done and is cheaper and less work than painting. Try another company.