Boat prices?

[Allan]

My partner is selling her boat. She has shocked me by dropping the price by £5000 due to advice from a, so called, expert. This represents a drop of over 17%. Is the market that bad? I've seen a number of boats bought and sold recently and the market seems to be moving.
Allan

 

[RivalRedwing]

you've got to give more info: boat type, location, condition, initial asking price etc...

 

[Allan]

It's a Moody 31 in Southampton and started at £28000 but I'm more interested in finding the general state of the boat market. I think she has over reacted to some bad advice and would like to hear some opinions. Hopefully I can persuade her to raise the price again.
Allan

 

[E39mad]

A link to the sale website would assist in helping people decide/compare with other similar yachts/sisterships on the market

 

[Biggles Wader]

I dont think there is a useful "general state of the boat market"
It varies so much between the different boat types and ages that you really need to look at the specifics for that type and age of boat.If you look at ebay,the various online brokerages and other sources you can get a feel for asking prices of other Moodys and comparable boats.Then its condition and presentation.Is it with a reputable brokerage?Is that where the "bad advice" is coming from?If so can you get a second opinion from another broker?

 

[SimbaDog]

I know of two yachts, 35' & 38' that have recently sold for very near the asking prices & they were not lower than normal! I think it all depends on the boats condition & specification, plus it does seem that bigger boats are selling better than little ones!

 

[Allan]

As I think she should increase the price I'd rather not link to a website, I'm also wary of breaking forum rules. I've done some checking online and can't find any similar boats for less, hence my reason for starting this thread. It's all very well looking at asking prices but if they are not selling then maybe her pricing is correct but I think not.
Allan

 

[RAI]

Maybe this will help
http://international.boatshed.com/market-report-summer-2015-blog-27466.html

 

[V1701]

What's her opinion, she presumably knows that the asking price is now lower than all the others & is prepared to accept less for a hopefully quick(er) sale? Would another years berthing &maintenance be £5k if it didn't sell quickly? Has she seen another boat she likes & therefore would prefer a quick sale to move on? I have seen a lot of older, smaller boats (by which I mean '70's & '80's & 8-10m) priced unrealistically sit there for a long time, have and do keep a close eye on this end of the market for the last 6 years or so & in that time bought 4 & sold 2 boats, newest being a 1989 Jeanneau, oldest a 1972 Vega...

 

[Medskipper]

Yes she does realise it's the lowest price of its kind. No, she has not looked for a replacement yet. The mooring costs etc. are not an issue as she will only ever have one boat.
After reading the Boatshed blog it seems appears to say thing are good, which would support my thoughts, but dropping the price should get her the sale she wants.
Allan

I have been in the retail business for forty years, not the boat market but I can tell you that pricing a product too low is as bad as too high! She should price it at an average price and then be prepared to knock a bit off when there is an offer on the table, but after the survey?

 

[Allan]

I'm reluctant to say "she should" do anything! I can however see your point. I had someone today ask what was wrong with the boat and had to assure them it is all in good condition. Unfortunately I then found they bought a similar boat recently.
Allan

 

[Allan]

In my normal inept way I have managed to delete one of my posts! Luckily Medsailor has included it in his post above.
Allan

 

[jonic]

Ok this may help.

It's rough and not 100% accurate but a fairly good indicator and is based on yachtworld data.

I can't find every price, but from the ones I can, in the previous 12 months actual sold prices have been in a range between £33,000 to £22,000 depending on age, re-fits and condition and whether MKI or MKII and giving an average of £27,500.

16 boats show as having been sold with 7 sold at less than £27,500.

There are currently 10 boats now for sale with an asking price in a range from £34,000 to £13,000 with 50% asking under £25,000.

The Euro is weak so the Euro buyer is not coming to the UK, similarly UK buyers are prepared to travel to the EU.

That's two lots of buyers lost from the market so prices will adjust accordingly to bring them back.

 

[orangemikey]

Also depends on whether bilge keel or fin keel as older boats tend to keep their price better if bilge keel and cheaper to moor.

 

[[448]]

To me the used boat market looks very weak. My pal has had his Sadler 29 BK for sale for over a year now. Started at £25,000 now down to £15,000 or best offer. No takers. Boat is in fair condition with no major faults and is in sail away condition on a harbour drying mooring. We are out on a limb here though!

 

[Toutvabien]

I think that boat prices have fallen considerably, particularly in some bits of the market. Some friends have just purchased a well equipped Southerly 115, in very good condition and with an almost new Vetus engine, for £36,000. When I was helping them look for a boat I found an Oyster 55 for sale at £130k and some large Amels similarly discounted.

The Southerly seemed very good value to me and I think that it is a good indication of how at least some prices have fallen in recent years.

 

[Binman]

Just a thought, if you are going to reduce the price as the OP by £5000, would you spend that money or part of it, fitting an extra to catch a buyers eye, Having a survey done but not reducing the price you want, as on selling for the full price, or near, you would get your money back, When I brought my boat which had been for sale for over a year, a very cheap boat I might add, I did study the same type boat for a few weeks looking at prices and what equipment and engine it had, It was at a fair price, but I offered £500 less and got it, There are thousands of boats out there, this one had a recent survey also, also a comprehensive history, where every owner had recorded what they had done, think it's had 5 owners, all the cushions had been recovered, so it has to be priced carefully, to sale. Even then it might take months, I expect selling it again to be very difficult.

 

[theoldsalt]

I think the market for mid-sized boats is stagnant at present. I've had my 34' boat on the market for 18 months and only two views both from people "just looking" and wasting my time.

 

[Allan]

Many thanks for all the replies. I think Jonic's is particularly interesting. I've looked at Mk2 asking prices and, although the price seems to be the lowest I can find in the UK, I don't think I'll challenge SWMBO over the reduction.
Allan

 

[Richard10002]

Many thanks for all the replies. I think Jonic's is particularly interesting. I've looked at Mk2 asking prices and, although the price seems to be the lowest I can find in the UK, I don't think I'll challenge SWMBO over the reduction.
Allan

If it's the cheapest of its' type in the UK, and is marketed properly, (whatever that means), I would expect the phone to be ringing off the hook. If it isnt, something other than price is wrong.

IMHO of course