Estimating value of a boat

[jj42]

Hi,

Looking at getting a rather large motor yacht, and I wanting to get some ideas about how to estimate a fair price (meaning something like the price I might reasonably hope to sell it for if I sold right away).

Obviously, you can look up similar age/condition boats online, but that only shows you what the seller is asking for, not what they might actually sell for. Anyone have advise or someone you can pay for an estimate (obviously, if you go through with the purchase then a marine surveyor can give you a valuation, but I mean for making an offer).

I'm looking a Fairline Squadron 2005, 500 hrs on engines, ok condition, if anyone wants to give me their thoughts on that.

Thanks,
jj

 

[petem]

Did you post a similar question on my Fairline Facebook Group? If so, I won't repeat the advice that you were given on there.

Would I recommend is that you create a spreadsheet of all the example that are available and list location, age, hours, engines, any extra that you're interested in, location, etc. That will help you get a clear idea of asking prices. The model that you were looking for is in high demand (many regard it as Fairline's best ever boat) and my perception is that sellers won't be accepting low bids on asking prices.

I'd also encourage you to speak to the brokers selling the boats. In my experience they will usually give you an honest assessment of the asking price and also what the seller is likely to accept (of course you can always pus a bit harder).

Also, when making an offer, check that the pre sale agreement allows for further price reductions if issues are found at survey (or allows you to walk away).

Finally, if paperwork is important to you then make sure you see photos of it before you book flights, etc to view boats.

Finally, finally, I'd try and buy the best example, not the cheapest!

 

[PEJ]

Finally, finally, I'd try and buy the best example, not the cheapest!

Better to buy a great boat at a fair price than a fair boat at a great price.

 

[bluetooth]

Did you post a similar question on my Fairline Facebook Group? If so, I won't repeat the advice that you were given on there.

Would I recommend is that you create a spreadsheet of all the example that are available and list location, age, hours, engines, any extra that you're interested in, location, etc. That will help you get a clear idea of asking prices. The model that you were looking for is in high demand (many regard it as Fairline's best ever boat) and my perception is that sellers won't be accepting low bids on asking prices.

I'd also encourage you to speak to the brokers selling the boats. In my experience they will usually give you an honest assessment of the asking price and also what the seller is likely to accept (of course you can always pus a bit harder).

Also, when making an offer, check that the pre sale agreement allows for further price reductions if issues are found at survey (or allows you to walk away).

Finally, if paperwork is important to you then make sure you see photos of it before you book flights, etc to view boats.

Finally, finally, I'd try and buy the best example, not the cheapest!

Missed that one Pete! is it Fairline Owners Club ?
Simon

 

[CLB]

Be warned, if you follow the petem method of boat buying, it might take some time

 

[petem]

Be warned, if you follow the petem method of boat buying, it might take some time

Harsh

 

[Bigplumbs]

Harsh

But True ?...…. Mind you russ could give you a run for your money

 

[jj42]

Hi Petem, Thanks yeah I did post on FB as well.

I guess I wondering how much difference there is on what you see as prices for other boats vs. what they're actually selling for.

 

[Bigplumbs]

Hi Petem, Thanks yeah I did post on FB as well.

I guess I wondering how much difference there is on what you see as prices for other boats vs. what they're actually selling for.

10 % is still a good rule of thumb as far as I am concerned

 

[Greg2]

10 % is still a good rule of thumb as far as I am concerned

Not sure a set percentage can be applied - depends what the boat is listed for in the first place, state of the market, demand for that particular model, how motivated the seller is etc etc.

 

[Bigplumbs]

Not sure a set percentage can be applied - depends what the boat is listed for in the first place, state of the market, demand for that particular model, how motivated the seller is etc etc.

I agree but as a rule of thumb it answers the OP's Question

 

[jrudge]

Hi Petem, Thanks yeah I did post on FB as well.

I guess I wondering how much difference there is on what you see as prices for other boats vs. what they're actually selling for.

If the price is real maybe bigplums 10% is correct but some people ask crazy money for their boat !

 

[Ocean Star]

The asking price needs to be realistic to begin with, and then a negotiation can begin. An overinflated asking price means a bigger reduction on the opening offer which generally feels like a kick in the nuts to the oblivious seller and does little for the sale process. Same applies with houses and cars, pretty much anything else that is for sale.

 

[ari]

I guess I wondering how much difference there is on what you see as prices for other boats vs. what they're actually selling for.

Completely impossible to answer.

A tatty overpriced unpopular boat might not get within 20% of what its over-optimistic owner is asking for it. A very tidy rare example of a popular model priced well could go at asking price if it's keenly priced.

Ultimately it matters not what percentage you get, the only figure that matters is what you paid and whether that is a fair price.