What would you pay?
Moderator: Jeff
What would you pay?
Right folks, eyes down for a new boat! If you were buying a secondhand yacht, mid 80's vintage, reasonable condition but a bit sparse on inventory (old mainsail, no autopilot, older instruments, original engine), what percentage off the asking price would you hope to secure it for. Assume, she is at the more expensive end of the prices being asked for same boats currently on the market. No exact answer I know, but what % off would you hope to achieve? Answers on a virtual postcard below!
i think that is the million dollar question.
Most of us think our endless money pits are worth far more than people want to pay us to take them off our hands, we sulk for days grumbling about "that ignorant ba****d who wanted to pay us peanuts" the endlass tyre kickers etc etc. At the end of the day, we all have to settle for an amount we are prepared to accept for our beloved craft.
If it were to be a moody or westerly they pretty much hold their value regardless of equipment, but it is a buyers market so if you can make a decision using your head not your heart, then i would offer what i thought it was worth to me, (taking into account the added expense of the equipment you wish to add) stick fast and be prepared to walk away, this is what i did on numerous occasions and many miles driving around the country looking at boats, until i finally got what i wanted at the price i wanted to pay.
We all become the ignorant tyre kicking b*****d eventually. Its the circle of life....... at sea!!
Good luck in your quest
Most of us think our endless money pits are worth far more than people want to pay us to take them off our hands, we sulk for days grumbling about "that ignorant ba****d who wanted to pay us peanuts" the endlass tyre kickers etc etc. At the end of the day, we all have to settle for an amount we are prepared to accept for our beloved craft.
If it were to be a moody or westerly they pretty much hold their value regardless of equipment, but it is a buyers market so if you can make a decision using your head not your heart, then i would offer what i thought it was worth to me, (taking into account the added expense of the equipment you wish to add) stick fast and be prepared to walk away, this is what i did on numerous occasions and many miles driving around the country looking at boats, until i finally got what i wanted at the price i wanted to pay.
We all become the ignorant tyre kicking b*****d eventually. Its the circle of life....... at sea!!
Good luck in your quest
Exciting times!
I guess it depends on perceived condition of the "old" equipment. Original engine is no problem at all if it looks immaculate, fires up quickly from cold and doesn't smoke. Our current boat has the original engine but it came with a very recent full engine survey report, provided by the vendor, which gave us some peace of mind.
Old sail - but how out of shape is it? How tatty?
Maybe more important than any of that though is what else is available at the moment for potential buyers?
I've sold 2 boats and lots of cars and bikes now and looking back the least stressful least hassle sales were all when I'd dropped the price as low as I'd possibly accept, attracting a lot of attention and very very quick sale. It meant there was no broker involved, no haggling, no quibbling, no surveying even (in one boat case) and no waiting. Probably saved more than I lost.
I see some boats marked as "FOR SALE" in the marinas and yards and I think they must be spending a good few £k a year on fees, and the hassle of keeping it clean etc, and then the broker's fee. Why not just sell it quick, cheap and fast and save yourself the bother, and the dosh!?
Top quality price for a Centaur was £12-14k. Ours was a little tired, original engine, old mainsail. I guess with much time, effort and broker, we might have got £9k. I advertised at £7.5k and sold it within 48 hours, for cash. Broker would have charged us ~5% = £450. Buyer would have surveyed then dropped price by some unknown amount, say £550 + VAT. Marina/yard would have been charging all the time in the meantime. Bottom line after a lot of hassle £8k, _perhaps_. A lot of effort and time for an extra £500! And likely in fact it would be even less.
Sell cheap, move on!
IMO
I guess it depends on perceived condition of the "old" equipment. Original engine is no problem at all if it looks immaculate, fires up quickly from cold and doesn't smoke. Our current boat has the original engine but it came with a very recent full engine survey report, provided by the vendor, which gave us some peace of mind.
Old sail - but how out of shape is it? How tatty?
Maybe more important than any of that though is what else is available at the moment for potential buyers?
I've sold 2 boats and lots of cars and bikes now and looking back the least stressful least hassle sales were all when I'd dropped the price as low as I'd possibly accept, attracting a lot of attention and very very quick sale. It meant there was no broker involved, no haggling, no quibbling, no surveying even (in one boat case) and no waiting. Probably saved more than I lost.
I see some boats marked as "FOR SALE" in the marinas and yards and I think they must be spending a good few £k a year on fees, and the hassle of keeping it clean etc, and then the broker's fee. Why not just sell it quick, cheap and fast and save yourself the bother, and the dosh!?
Top quality price for a Centaur was £12-14k. Ours was a little tired, original engine, old mainsail. I guess with much time, effort and broker, we might have got £9k. I advertised at £7.5k and sold it within 48 hours, for cash. Broker would have charged us ~5% = £450. Buyer would have surveyed then dropped price by some unknown amount, say £550 + VAT. Marina/yard would have been charging all the time in the meantime. Bottom line after a lot of hassle £8k, _perhaps_. A lot of effort and time for an extra £500! And likely in fact it would be even less.
Sell cheap, move on!
IMO
Sage advice from all. Just a little bit surprised to have an offer turned down flatly by a seller. Boat has been for sale for nearly 2 years yet feedback from the broker is that he won't really budge by much on the asking price (3%). Just wondering if, in the current market, you would expect to get more than 3% off the asking price, on what is already a boat priced at the upper end of the market. Also, no real consideration given for a price reduction over a misrepresented inventory ( autopilot listed but now mysteriously broken and removed, all new standing rigging, but when explored further, only partially done). Difficult to get a dialogue going with the seller when they are so intransigent! ( bit of a rant over) 
How frustrating! We had a similar thing with a boat we fell in love with. Transpired Mr boat owner didn't actually want to sell it, but Mrs boat owner had told him he had to, so he put it on the market (keeping her happy) at an unrealistic price (keeping him happy) and successfully wasted our time (making us unhappy).
Got to wonder if your investigations thus far have uncovered those issues already, what else awaits. Is it the only one you like on the market? You really should walk away maybe, but I know what it's like when you get your heart/mind set on something!
Got to wonder if your investigations thus far have uncovered those issues already, what else awaits. Is it the only one you like on the market? You really should walk away maybe, but I know what it's like when you get your heart/mind set on something!
Yep! Frustrating it is. Not letting heart rule head at the moment, just ranting on a bit! Have taken on board the idea of having a separate engine survey done - may be worth it's weight in gold! Just wondering how these people arrive at their valuations and why brokers don't give them a reality check! This situation has now happened on two boats we have been interested in over the last year. Surprise surprise, the first one is still for sale and will be for years to come. Same with this one I feel. Is the second hand boat market really flying at the moment, and no one told me? Sorry - rant over again! 
