'Asking Price' vs 'Offer Price' - brokerage boats

[Tranona]

Worked with an accountant who once had a similar problem but with houses at a time when the house market was slack. He simply made a very low offer subject to contract on 5 different houses, and when one of the owners weakened through desperation, he bought that one. You could do the same if you are in the bulk ben/jen/bav/hans market. Just make sure that the offers are subject to contract ie non binding.

It will irritate the brokesr but who cares?

Then it is not an offer, but just an expression of interest and will be treated as such. So you may well find sellers are not interested in engaging further until the offer becomes serious - that is the buyer is prepared to enter into a contract.

 

[jac]

Then it is not an offer, but just an expression of interest and will be treated as such. So you may well find sellers are not interested in engaging further until the offer becomes serious - that is the buyer is prepared to enter into a contract.

True, it will rank below "proper" offer if such an offer exists but above all the viewings that lead to nothing. So it would still come down to which of the 5 owners were prepared to blink first and accept the low offer.

 

[dom]

True, it will rank below "proper" offer if such an offer exists but above all the viewings that lead to nothing. So it would still come down to which of the 5 owners were prepared to blink first and accept the low offer.

Maybe, but then again, and dare I say more often than not, the best investments, houses, whatever, are achieved not by underbidding the multiple, but by paying up for and nailing the singular. That said markets are different strokes for different folk, so all's good

 

[Richard10002]

Maybe, but then again, and dare I say more often than not, the best investments, houses, whatever, are achieved not by underbidding the multiple, but by paying up for and nailing the singular. That said markets are different strokes for different folk, so all's good

I haven't made a fortune but, where I have done well, it has been by paying up and nailing the singular, even though I didn't know that was what I was doing at the time Great phrases!!

 

[KellysEye]

> but what's a good rule of thumb for where an opening offer on one could be pitched?

Second hand yachts are still a buyer's market so make an offer to the owner if selling direct or broker. Don't make a silly offer it won't be accepted try 10 to 15%.

 

[superheat6k]

> but what's a good rule of thumb for where an opening offer on one could be pitched?

Second hand yachts are still a buyer's market so make an offer to the owner if selling direct or broker. Don't make a silly offer it won't be accepted try 10 to 15%.

This misses the point for a myriad of boats that are massively over priced (save those marketed by Jonic, who I accept seems to have a realistic approach to valuing), especially those suffering 'Old Man Syndrome'. One of the Corvettes I was viewing was on with a reputable broker at £60k, I valued it at £23 k and with just too much work to be a prospect for me. The past few months has seen the AP descend to £50k then to £40k, and I understand it has now gone under offer at £33k with a reduction following 'issues at survey'. That's 50% down, and in my view the vendor is doing well with the buyer he has found.

 

[Budgieboy]

I have been looking now for a blue water yacht while trying to sell mine as we want bigger , viewed lot's of different boats and makes , went to see a Najad last week , was not impressed at the price it was on for but wanted to look at the model more than anything and had the agent tell me it was priced at 10k over the top ! ..... which I knew but having it confirmed did get my back up a bit .... felt the owner was looking for a mug ...... anyway never liked that particular model so another box ticked ....

 

[chrishelen]

It's a strange market..I sold my Eventide 'priced for fast sale' years ago to a lady who said I was under selling it and gave me £500 more tham the asking price...then my last sailing boat, a nice moody sold for just over half of the asking price, which was not excessive,and was priced in accordance with the onboard kit and with other similar equipped boats locally, but I was desperate to sell after falling into the two boat trap.

 

[steveeasy]

It's a strange market..I sold my Eventide 'priced for fast sale' years ago to a lady who said I was under selling it and gave me £500 more tham the asking price...then my last sailing boat, a nice moody sold for just over half of the asking price, which was not excessive,and was priced in accordance with the onboard kit and with other similar equipped boats locally, but I was desperate to sell after falling into the two boat trap.

Two extremes, Not sure why anyone should feel there are any hard and fast rules about boat sales. Jonic referred to a boat sold at the correct price, and he probably is right. At the end of the day its a buyers market for the simple reason more boats are for sale than buyers looking for one. A well kept and upgraded boat will be worth a premium to most buyers, whereas a tired boat will need expenditure therefore not such a good viable purchase.
Do we take from this boats that don't sell are over priced. not really, but something is only worth what someone is prepared to pay for it. Recently ive seen a folkboat drop from £26,000 to £6,000. hard to believe but the owners actually were realistic, it was tired and to sell the liability it had to be priced accordingly. frustrating as it may seam, nothing complex.
Steveeasy

 

[Birdseye]

Maybe, but then again, and dare I say more often than not, the best investments, houses, whatever, are achieved not by underbidding the multiple, but by paying up for and nailing the singular. That said markets are different strokes for different folk, so all's good

The difference between boats and houses is that boats are standard items made in a factory. So if you have, for example, decided that a Bav 36 suits you and there are 10 for sale, making 10 low offers subject to contract makes sense. If on the other hand you want a Swan and there's only one for sale, you have to adopt a different tactic. Common sense.

 

[Garold]

''Nailing the singular' has been my approach too. Great phrase.

But reading the thread, never has it been more worthwhile to keep your boat well serviced, fully maintained, and just generally in great condition. Because in a buyers market, with more boats for sale, condition is a differentiator.

And anything above an average market price seems to usually result in no lookers. So the right sale price is important.

As are great photographs and a willingness to be realistic if an offer comes in. An interested broker can make a sale have legs too.

I think Jonic offers a great service on the photography and price advice. (From selling a boat through him). And he coaxed my unlikely purchaser through too.

And if all the above is in place, I would have thought that any acceptable offer will probably be within 15% of the asking price.

Garold

 

[steveeasy]

An interested broker can make a sale have legs too.

I think Jonic offers a great service on the photography and price advice. (From selling a boat through him). And he coaxed my unlikely purchaser through too.

Never has anything been more true. Just a little bit of enthusiasm to broker a deal. .

Steveeasy

 

[npf1]

I think Jonic offers a great service on the photography and price advice. (From selling a boat through him). And he coaxed my unlikely purchaser through too. Garold

I'll second that (also from recent experience)! But, without trying to make this sound like an appreciation society, I'll also add that he did a whole lot more than photography, price advice and coaxing. He spent the best part of a day taking details of the boat, no doubt at least as long compiling the photos and listing/other marketing, accompanied multiple viewings and dealt with tons of email, calls and texts. Just my communications with him amounted to more than 30 calls, even more emails and many texts too. And that's for a boat that went 'sale agreed' within a few weeks of listing.

The story may well have been much different with a less proactive broker.

 

[jonic]

I'll second that (also from recent experience)! But, without trying to make this sound like an appreciation society, I'll also add that he did a whole lot more than photography, price advice and coaxing. He spent the best part of a day taking details of the boat, no doubt at least as long compiling the photos and listing/other marketing, accompanied multiple viewings and dealt with tons of email, calls and texts. Just my communications with him amounted to more than 30 calls, even more emails and many texts too. And that's for a boat that went 'sale agreed' within a few weeks of listing.

The story may well have been much different with a less proactive broker.

That's very kind. Thanks.

 

[dom]

The difference between boats and houses is that boats are standard items made in a factory. So if you have, for example, decided that a Bav 36 suits you and there are 10 for sale, making 10 low offers subject to contract makes sense. If on the other hand you want a Swan and there's only one for sale, you have to adopt a different tactic. Common sense.

Boats may start out as fairly standard items albeit with surprisingly different equipment lists. As time passes this diversity steadily increases and after a few years one can find beautifully maintained boats, bashed boats, boats with fab laminate sails, others with blown-out Dacron, boats with sparking teak decks, others that require work, different electronic specs, widely different engine hours, bow thrusters, etc, etc.

In such circumstances a heap of cheap bids seems a good way of making the acquaintance of a term known as the "winners curse" ...a curse which unfortunately only pops up when the deal has been done!