A fair deal

[russ]

I'm in the market for my next boat and I have spotted 3 boats that I maybe interested in.

One vendor has suggested that if it goes on brokerage the boat would be up for £76000.
My question is, what would be a fare deal for us both considering he hasn't fees and vat to pay? I would also expect that you would never pay full asking price to start with.

 

[jrudge]

Commission about 8% plus vat. Split it ?

The value of the boat. You don’t say so so no idea!

 

[Deleted User YDKXO]

My question is, what would be a fare deal for us both considering he hasn't fees and vat to pay? .

Impossible to say without knowing the type of boat and its condition but one thing's for sure. You coming along and being willing to buy the boat straightaway is a major bonus for the seller and that should be reflected in a lower price. After all if he put the boat on brokerage, not only would he have to pay brokerage fees but it might be months before he sells it and he'd very likely not achieve his asking price. Without knowing anything about the boat or its condition, I think an offer around £60000 based on his valuation of £76000 sounds about right to me

 

[Whitelighter]

A sale through brokerage at £76,000 (unlikely but might happen) will nett him £68,704 assuming standard commission of 8%+VAT

Though sellingvto you he has to do the brokers work, sort out papers etc.
A sale at list might happen if it’s a popular bust in Europe - be age the weak pound makes our stock cheap.

Assuming you like the boat, it’s in good shape and the £76k would be reasonable for a boat of that age then buying it at the £68k price is an easy win win for both parties.

Now as mike says you might think on principle you should get a bigger slice of the pie, only you know what the boat is worth to you. I’d think a fair deal might be done between £65k and £69k. All this is a bit speculative - tell us the boat model and we might even be able to give you a steer on the £76k

 

[Richard10002]

I'm in the market for my next boat and I have spotted 3 boats that I maybe interested in.

One vendor has suggested that if it goes on brokerage the boat would be up for £76000.
My question is, what would be a fare deal for us both considering he hasn't fees and vat to pay? I would also expect that you would never pay full asking price to start with.

Ask him what he thinks is fair? It should definitely be £76k less all of the brokerage fees, but he may be talking to more than just you?

 

[Seastoke]

well brokerage value ,we paid 13% less than advertised so you could look at that then the seller would have to pay fees to broker so you could start low ,its better you don't need to lend money against it ,but have you looked at the average price they are up for ,also discuss the cost of lift out survey, servicing if the survey finds faults is he going to pay for repairs ,if not you might be spending money on survey for nothing but good luck .SS

 

[russ]

Its an 02 S34. Usual engines and spec. I was thinking of £60k which is within my budget but buying through the broker would push me out.

 

[Seastoke]

Its an 02 S34. Usual engines and spec. I was thinking of £60k which is within my budget but buying through the broker would push me out.

you would do well to get one for 60k but best time to buy ,good luck ps what was the other two boats

 

[Boat2016]

Offer what you think the boat is worth regardless of the asking price, if you think you can get away with it then good luck but don’t be offended by the reply. I know brokers often start at 8% + vat but this often gets cut to make the deal work so doesn’t mean that’s what they are getting. You need to research what the boat is really worth.

 

[Richard10002]

Its an 02 S34. Usual engines and spec. I was thinking of £60k which is within my budget but buying through the broker would push me out.

Then it seems you have already made your mind up.... brokerage or otherwise. Make your offer and see what happens. £60k is more likely to be acceptable before it goes to a broker, than after.

 

[oldgit]

Best time of year to pay a good price this sort of boat and with no boat to sell, puts you in an even stronger position.
28 for sale at moment so plenty of choice.
"Newsnow" website collates info from most broker and private sales ads.
https://www.newsnow.co.uk/classifieds/boats-for-sale/sealine-s34-boats-for-sale.html
Wide price range from £50K to 90K.
It appears that some engine options affect asking prices as can location.
Boats in Scotland do appear to have difficulty attracting viewings.
Buy in the golden triangle of the Solent and expect to pay a little more.

 

[Greg2]

Best time of year to get a good price this sort of boat and no boat to sell, puts you in an even strong position.
28 for sale at moment so plenty of choice.
"Newsnow" website collates info from most broker and private sales ads.
https://www.newsnow.co.uk/classifieds/boats-for-sale/sealine-s34-boats-for-sale.html
Wide price range from £50K to 90K.
It appears that some engine options affect asking prices as can location.
Boats in Scotland do appear to have difficulty attracting viewings.
Buy in the golden triangle of the Solent and expect to pay a little more.

Think there are some repeat adverts there. A quick scan of Yachtworld and Yacthmarket show between 7 and 10 for sale in the U.K. We looked at one or two of those when we were looking last year and they wouldn’t be what we would buy.

£60k is a little optimistic for a 2002 S34 - sure time of year and motivation of the seller may be a factor but the reality is that these boats are popular and they tend to sell well and brokerages are still not inundated with stock.

 

[rubberduck]

Ask him what his thoughts are, then tell him yours, meet in the middle, easy peasy.

 

[russ]

All good advise thank you.
The vendor did say he was going to use it for one more summer before selling but if I were interested then he would move on it.
My reply was that I am ready to deal after March/April.

I think a trip to view is my first step before any negotiations.

 

[Seastoke]

Hi Russ for me there is a Rodman at Burton waters that is a better boat for 62k with 3 month warranty

 

[Dorset Dan]

Just sold my 2004 F'line Targa 34 for £94k as a private sale with no brokerage fees (was agreed at £95k before a couple of issues on survey, props needing re-bushing, etc). I would have put it on at £110k with a broker which would be top end of the market pricing but it was A1 condition with new raymarine axiom electronics suite, fusion stereo, new covers, etc all in 2018.

I would have expected a 5% discount on price with brokerage sale which would have given me £104.5k, less 8%+VAT commission would have been £94.5k net, so I'm about where I expected to be. To be fair though I only sold for this price as I was motivated to do a quick deal to get myself in a position to buy a nice original F'line T43 which I completed on last week (and FWIW dealing direct with buyer was 100 time easier than dealing with a broker on my purchase!).

For your S34 at £76k the same ratio would equate to c£65k price.

 

[MapisM]

Without knowing anything about the boat or its condition, I think an offer around £60000 based on his valuation of £76000 sounds about right to me

+1.
After all, if the offer would be rejected, putting some other grands on the table remains an option.
It's unlikely to grab her for £60k after making a £65k first offer, I reckon...
And 60k vs. 76 asking price through brokerage is not offensive by any stretch of imagination, imho.

 

[oldgit]

Think the buyers best card is that he has no boat to sell and able to move quickly.
Anybody who has been boating long enough, will be well aware that any buyer with no existing boat to sell is a rare commodity.

 

[russ]

Sold my last boat privately at a very good discount to the buyer. Although it was like pulling teeth on agreeing to the contract wording and how to pay. Eventually used RYA forms with a few changes and handed keys over and contracts in the bank once funds were transferred.

As mentioned, I am a cash buyer and it would be a quick sale for the vendor.

 

[russ]

Hi Russ for me there is a Rodman at Burton waters that is a better boat for 62k with 3 month warranty

That does look in nice condition Seastoke. It ticks the two boxes of having separate births and shaft drive but at first we may spend quite a bit of time on the Thames and so air draft is a problem.
I had considered Prestige 32 but engine access was always an issue for me. F33, too much windage but always liked the idea of closed off lounge area for all year round cruising, also not very socialable up on the fly whilst others are aft chilling out. Nimbus type boats are not open air.

Other options are welcome?