Yacht sold recently
- Thread starter Bob S
- Start date
I don't know if broker have to pay to subscribe to a database or not. If you meant that the broker would charge the OP for that info, I suspect that some would, and some would not, especially if helping a client or potential client.
Brokers are generally paid yacht world.com members. As such, they can pull actual sale prices reported by their colleagues. Whether that info is actually true is the subject of another discussion.
I've received comps from the two brokers I've worked with over the last 20 years. They have been reasonably accurate and provided at no charge. That said I've always tried to treat them respectfully, and always treated as a favor and not an expectation. They also know I've routinely provided them with references when folks were shopping for boats and assisted them when they needed favors.
So I assume there are no public records. I was curious because I want to put mine up for sale at the end of this season and look for a larger boat. I've been on one that the current owner just bought in July and is now selling her. I am curious to see what he paid for her verses what he is asking.
Have you thought about asking him? Or asking him what broker he used, then contacting that broker?
How would the gap between what he paid and what he is asking now affect the price you would set for your boat? Every boat is different, and yours is worth what someone will pay for it, irrespective of his numbers. There are a lot of boats for sale, so if the object is to sell yours, rather than just market it, I would encourage you to price it at a number that will attract as much interest as possible.
How would the gap between what he paid and what he is asking now affect the price you would set for your boat? Every boat is different, and yours is worth what someone will pay for it, irrespective of his numbers. There are a lot of boats for sale, so if the object is to sell yours, rather than just market it, I would encourage you to price it at a number that will attract as much interest as possible.
It doesn't but I was thinking of making an offer on his boat and would love to know what he paid for it 8 weeks ago. It has nothing to do with my boat. Are the asking prices on Yachtworld what the boats are selling for? Are they going at 90% of asking. Just trying to be an educated consumer. I know how to identify a neglected boat verses one that has been taken care of and condition is key. Some brokers seem to understand more than others but they are still working on their 10% commission. Eight years on this forum and caring for my boat have given me a far better understanding of what to look for in hopefully my second boat.
jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 24,534
Bob. Over the year of looking for my boat I discovered the sold price of a boat is a closely guarded secret by most brokers. Yes yacht world charges a fee to see the info on boat sold price. There have been passwords that float about the web to open this Pandora box but yacht world appears to police this and shut them as they appear.
Nada and USBoat will give you a price estimate. Pretty much looking online for similar pricing and then choosing a value that will satisfy your wishes and attract potential buyers is the way of boat selling. Selling your boat at the end of the season is more competitive. The new potential owners are looking for a deal. For them it is delayed gratification. Watching their new purchase sitting in the snow waiting for spring costs the seller. In the spring it changes and sold prices increase as boats appear on the water.
Condition of your boat will play a big part, especially if the purchase is such that will involve a survey.
Best of luck.
Nada and USBoat will give you a price estimate. Pretty much looking online for similar pricing and then choosing a value that will satisfy your wishes and attract potential buyers is the way of boat selling. Selling your boat at the end of the season is more competitive. The new potential owners are looking for a deal. For them it is delayed gratification. Watching their new purchase sitting in the snow waiting for spring costs the seller. In the spring it changes and sold prices increase as boats appear on the water.
Condition of your boat will play a big part, especially if the purchase is such that will involve a survey.
Best of luck.
I'm guessing you would just like to know how much room there is for negotiating. The reality is that each transaction is fairly unique in circumstances. Motivation always differs between buyers and sellers, especially as time ticks on. The seller may have only been interested in flipping to begin with, or his motivation for owning the boat may have changed dramatically. You may not know the answer without asking, and then only if you get an honest answer. I'd simply try to evaluate the cost based on similar boats for sale in the area and weigh my own motivation for buying.
I'd also guess that if he is using a broker to sell the boat, he may be asking for an increase that is at least as much as the commission is costing him. That might make it difficult for negotiation. Nobody would want that haircut so soon after buying the boat.
I'd also guess that if he is using a broker to sell the boat, he may be asking for an increase that is at least as much as the commission is costing him. That might make it difficult for negotiation. Nobody would want that haircut so soon after buying the boat.
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That makes sense, thanks. Two thoughts:
1) If he bought the boat to flip, he either got a great deal on it, or he's foolish. Flipping boats is not generally a strategy for making money. What improvements he made, if any, should help you judge value, with your knowledge base. If he got a great deal on it, he may be more negotiable.
2) On the other hand, if he's only had it 8 weeks, then I guess the chance he bought it specifically to flip goes up slightly. But if he didn't buy it to flip, then he either really doesn't like the boat, or he has realized he is in over his head, or his circumstances have changed. All of those things help you in negotiations.
Did he list the boat with the same broker that handled his purchase? If not, call the broker that handled the sale to him and ask him straight up what the boat sold for. Worst case, the broker won't tell you. If the same broker is handling this sale, you are much less likely to get the information, but you could ask him why a sale just 8 weeks later.
Finally, if you know a good broker, or can get a recommendation on one (maybe even the one involved in selling your boat to you), call THAT broker and ask him to find out what the boat sold for 8 weeks ago. He'll probably ask why you want to know. Tell him the truth - you may be interested in buying, but are curious about the short interval of ownership and the difference between what he bought for and is listing for. If he's sharp, the conversation becomes an opportunity for him to a) offer his services as a buyer's rep (which you may or may not care about), and b) potentially list a boat (your current one). That may be enough for him to give you the info you want. You haven't misrepresented anything, and you haven't obligated yourself in any way moving forward.
jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 24,534
There may be public records, but it is like autos. Boats less than 30 are mostly state registered. I think this is not a public document like real estate. Without easy access the sold value is protected. Brokers while protecting this info do not recognize the impact on sales that the open info of real estate sales values has had on real estate market. ( my opinion ).
Want to develop a marketing app figure a way to get sold data from the various state marine department records and do a Zillow like website.
Want to develop a marketing app figure a way to get sold data from the various state marine department records and do a Zillow like website.
I hope you meant 80% of the asking price. Either that, or there are some really good deals out there somewhere.
It seems to me there was a "blue book" once upon a time that banks had which listed used boat prices and loan values. If that still exists, it might be of some help. It may not have listed boats over ten years old though because a lot of banks wouldn't finance them anyway.
I get a quarterly mailing from Denison Yacht Sales showing BENETEAU sales. Just rcv'd the First Q listing of strictly Beneteau boats. They have other brands, so probably a different flyer for each brand? Try "DenisonYachtSales.com/XXXreport " XXX would be the brand you want .