Another Boat Buying Question

[Bad Obsession]

I am now in the market for a new boat. I have already figured out what I want in a boat and I have figured out what I want to buy because of this. I know of the type of cruising that I will be doing and I am familiar with my cruising grounds.Now that I have decided on a boat and a model, I have been searching the boats in my area. The good thing is that I have a lot to choose from and most of them fit my criteria, some fit almost exactly.The next important issue is price. I have decided on what I want to pay for the boat. I am taking steps to secure the funding. I want to pay $35,000 and I will be able to do that. I would actually prefer to say somewhat less so that I can cover taxes, registration or documentation (Still unsure which I will do), and survey costs. A few of the boats that I am looking at are listed though a broker at $39,000. I know that people set a price higher than they want to achieve so that they can get what they want to get for the boat. When it comes to this, what would be the normal range that you would be able to offer and not offend the seller? For instance, if I offered $32,000 for a boat listed at $39,000 would that be okay (if the boat is in good shape)? I guess what I am trying to get at is how low of an offer should I make on a boat when I go to buy?A little side information that I have found through research....I have found a similar boat in the same region for $35,5000 and it looks great too. There is another boat that is a year younger than the boat for $38,4000. All the prices that are "list" prices seem to start around $35,000 and a boat that is a year or two older is still in that price range.

 

[Don]

registration v. documentation

Registration and documentation are not mutually exclusive things - depending on where you live, you'll have to do both if you finance the boat.Where is Colonial Beach? Don

 

[Bad Obsession]

More info

I won't have a traditional loan on the boat....I will be holding the title. Coloinial Beach is on the Potomac River, about 30 miles by water to the Chesepeake Bay

 

[Ctskip]

You've done the homework now

go out and strike your best deal. Sometimes you win other times you lose. I always see a item say at $100 I want to pay $75 for so I offer them $50 This way they come down and you go up. Everyone is happy. There are cases where the owner wont budge.So you'll have to bite the bullet and give them what they want. There are many variables. Spring is good for sellers and fall is better for buyers. You sound to be able to hold your own ,now just go out and strike your best deal. Good luck Keep it up, Ctskip

 

[mortyd]

right boat

whoa, slow down, next thing is not price. next thing is the right boat. needless to say, a boat that needs lots of work will cost more than a boat the doesn't, and the sellers know that. if one guy is asking x amount more or less for the same boat, there's probably good reason. while i was closing on a thirteen year old boat that was hardly ever sailed somebody called offering the seller four thousand more than i had just closed for. yes, i paid at the top of the range for my boat, and have sailed her for two years with no surprises.

 

[a broker]

Get the dialog going

You are not so out of wack that anyone should take offense (although some owner still do). The most important thing is to get some dialog started. I can remember times when I thought I was low balling an offer, that was immediately accepted; and other times when they didn't move. You have nothing to loose. Make the offer.

 

[sailortonyb]

Whats it Worth?

Check BUCNET Values , N.A.D.A. Values and from the Broker - Actual Cash Value. All 3 numbers should be the same , but i can Guarantee you that they are vastly different. This will somewhat help you to establish a value on the boat. Because of insurance issues, I certainly would not pay more than the ACV or the N.A.D.A. Value. Bucnet tends to be much higher most times and if you have a claim, you wont get BUC Value.If for some strange reason, the boat values out around $39,000, then the boat is priced about right. If this be the case, i think that the owner would accept $35 -36,000. There is no real rule of thumb, but most people will accept about 10% less than asking provided the asking price is in the correct range. If they are way over priced, offer them what you feel it is worth irregardless of the asking price.The bottom line is ....use their asking price as a very rough guide and only offer what it is worth or a little less. Sometimes you get lucky and get a real good price, but thats not the rule.BTW, when you use BUCNET and N.A.D.A. there is a small explanation of the 'condition' of the boat, i.e. the price range for Average condition puts the boat ready for sale, requiring no additional work and NORMALLY EQUIPPED for its size. If it is not, then you would consider the boat below average and reduce the value by another 10% - 20%. This is the way banks, surveyors and Insurance companies operate. We could always say...its worth whatever its worth to you....as long as you never intend to sell it and as long as you dont ever have to put in an insurance claim.Good Luck

 

[BarryL]

Prices and other things

Hello,If you do your homework and take your time you should be able to get a feel for the right price for the boat. Also, a good broker will be able to help you.Two years ago, I was in the market for a 28-32' cruiser / racer. I wasn't in a hurry, so I had the luxury of seeing boats advertised in Yachtworld, then I could see the price drop, drop, drop, and eventually get sold. My budget was a lot less than yours, 15-20K. The boat I eventually bought started out at 20K, then 18K, then 16K and I bought it for 15K, which I thought was a good deal considering the condition of the boat and the extras that came with it.When trying to determine why one boat has a higher asking price than a similar boat, make sure you consider the condition and extras. How are are the sails and are there any spinnakers, etc.? Note that the life of most sails is about 10 years max. Does the boat come with a dingy? Is there an autopilot on one boat but not the other (AP's cost close to $1000)? You get the idea.Finally, you can offer whatever you want. The seller can say no, counter offer, or accept. The broker should be able to give you some guidance on your offer.Be sure to save some money for survey, repairs (there WILL be some), additional equipment. etc.Good luck!!!Barry