Had my offer rejected today . . .

gravygraham

gravygraham

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. . . and am deciding whether to submit a higher one. I did my sums and went in at about 14% below the asking price.

Anyone care to make a stab at the current average difference between asking and accepted prices?
 
Depends on the boat.

If it is the lowest priced one on the market and in good nick probably not much - maybe 5%, especially if it has just come on/just been reduced.

However if it's way overpriced you can maybe get a great deal at 20% off - wow big discount but from a high price.

Don't get hung up on % discount. Look at what you are paying and work out if it's worth it to you for that boat. If you just focus on getting the biggest discount you won't get the best boat and may even get a bit of a lemon
 
gravygraham said:
. . . and am deciding whether to submit a higher one. I did my sums and went in at about 14% below the asking price.

Anyone care to make a stab at the current average difference between asking and accepted prices?
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Well, mine sell on average within 5%.

Is the boat you are looking at 14% more expensive than others?
 
gravygraham said:
. . . and am deciding whether to submit a higher one. I did my sums and went in at about 14% below the asking price.

Anyone care to make a stab at the current average difference between asking and accepted prices?
Click to expand...

it all depends on the motivation of the seller.

Evenstar is up for sale, but it isn't a distress sale. The broker knows not even to pass on offers not near to the asking price. Double figure %age reductions are completely out of the question. No offers and I'm quite happy with her thank you very much.

If I had to clear a mortgage or something things might be different.

So you tried your luck, no harm in that. Offer what you're prepared to pay, if it isn't accepted look elsewhere.
 
Whitelighter said:
Depends on the boat.

If it is the lowest priced one on the market and in good nick probably not much - maybe 5%, especially if it has just come on/just been reduced.

However if it's way overpriced you can maybe get a great deal at 20% off - wow big discount but from a high price.

Don't get hung up on % discount. Look at what you are paying and work out if it's worth it to you for that boat. If you just focus on getting the biggest discount you won't get the best boat and may even get a bit of a lemon
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That is actually very good advice.
 
Within the range I studied and finally closed a deal, prices fluctuated 30% for the same make/model/year.

Asking price is merely to be seen as a starting point for negotiation and once you've viewed at boat you're in a position to submit an offer.

Thinking that because one boat of a given make/model has a given value, all it's siblings will be the same is a serious error. Both by seller and buyer.
 
Elessar said:
it all depends on the motivation of the seller.

Evenstar is up for sale, but it isn't a distress sale. The broker knows not even to pass on offers not near to the asking price. Double figure %age reductions are completely out of the question. No offers and I'm quite happy with her thank you very much.

If I had to clear a mortgage or something things might be different.

So you tried your luck, no harm in that. Offer what you're prepared to pay, if it isn't accepted look elsewhere.
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Same as me, my boat is up for sale but if it doesn't sell I won't be dissapointed as I can (and do) still use a very well equiped boat.

Now when I am looking to buy a new boat I would research the market to see what else is about and at what price then pitch in as the op has with a lowish offer bordering on the cheeky side to chance me arm then go from there

Martin
 
It's been on the market since the spring - not sure which part though. We've been looking at models two and more years older than this one (and hence cheaper). The price was supposedly reduced a while back, and now the seller has employed an additional agent.
 
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My boats under offer but at way below where I wanted to be.

What decided me to agree eventually on the price was the interest over the last 6 weeks, 3 offers were made all at the same price, eventually I had to accept thats where the market is at.

I just got to hope when the deals done I can get the difference ive dropped off at the other end.

Unless you can give us an idea what boat you have offered on and the percentage drop from th asking price its hard to give an idea wether you are realistic or not.

Ive tried offers with dealers, its hard to get them down on price of used stock, where as a true brokerage boats price is down to the vendor, his situation and his future thinking.
 
maverickofpoole said:
Now when I am looking to buy a new boat I would research the market to see what else is about and at what price then pitch in as the op has with a lowish offer bordering on the cheeky side to chance me arm then go from there.
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The broker tells me that there's been two other similar offers to that which I've submitted - so hopefully mine's not cheeky?
 
Depends on the motivation of the seller and what you are prepared to pay for the particular boat but with mobos the current market ain't great so not really a sellers market.

Thinking ahead the economy is still up the creek, the eurozone is not looking great and fuel prices are headed continually north so who knows what future prices might look like. Big consideration IMHO.

Interesting bit in MBM a month or so ago from a Broker in that the old adage that the first offer is likely to be the best you get now has an addition inasmuch as it may well be the only offer. Not an issue if the seller is in the same position as Ellesar but not so good if you really want to sell.

Unless the boat in question is rare on the market or already at a low price I think I would look elsewhere.
 
I agree that it's got nothing to do with what the both is "worth" at the moment - it's what the seller is prepared to accept given a dirth of buyers...

I am in a similar position to you, in that I am going to have to work out where to pitch an offer soon.

I am just going to think about what I'd be delighted to get a boat at, knock off all the work that needs doing plus a bit as I am going to have to get it sorted, and then a bit more off for some negotiation and then see where that gets us.

If my offer is considered "insulting" or "silly" then so be it - rather have to up my offer than put one in and have it accepted in 30 seconds... cos in my head that means I'd paid too much.
 
The weakest link ...

.........in most boat sales is you the the buyer,as others have said,there is no way of knowing the sellers circumstances.Many boats for sale will be suck it and see what the market will pay cos the owner is feeling a bit flush at the moment and just fancies testing the market to see it his boat will generate enough cash to finance his next bigger boat,so waste of time really for negoiations
The boat seller you really need to find as a serious buyer,is somebody who is possibly getting out completely and just wants rid of the thing as the marina bills start to mount up and the boat gets scruffier and scruffier.
My advice is to go anywhere and everywhere and look at anything on the market.
Sooner or later something will jump out at you.

As the buyer if you want that bargain you will need nerves of steel and patience ,make your best offer,leave your phone number and walk away.

Ps.Paying top dollar for something does not mean you will not buy a lemon,just means you will have no spare cash to fix it when it goes wrong.
 
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gravygraham said:
The broker tells me that there's been two other similar offers to that which I've submitted - so hopefully mine's not cheeky?
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There's no such thing as a cheeky offer providing it's serious ie the buyer has the funds to complete it. In the present market every offer is serious. I would say that whether you increase your offer or not depends on how much you want the boat and importantly how long you think you are going to keep it. The fact that there have been 2 other offers around yours should indicate to you that that is where the true market value lies so in financial terms, you shouldn't pay any more. If you do pay more and then sell the boat in 2/3yrs, you are likely to lose money. On the other hand, if you really want the boat and you intend to keep it for a long time, then it doesn't matter because it will be many years before you sell and crystallise any loss. In any case the market could be better then
 
gravygraham said:
Your collective wisdom is much appreciated peeps.

I've decided to walk away. Could be a daft call because I think I might have bagged the deal for another 1.5k. Hey-ho.
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Well, you can always sleep on it, as long as it doesnt get sold !

Not a comment directed specifically at you GG, but a boat is never going to be a great financial decision, so to some degree there isnt alot of sense in trying to make it one.
We all have our own pain barrier of course, but sometimes I think it is worth wondering which is going to bring a bigger smile to your face; your bank statement or being out on the water.
Will you enjoy that £1500 so much ;)
 
gjgm said:
Well, you can always sleep on it, as long as it doesnt get sold !

Not a comment directed specifically at you GG, but a boat is never going to be a great financial decision, so to some degree there isnt alot of sense in trying to make it one.
We all have our own pain barrier of course, but sometimes I think it is worth wondering which is going to bring a bigger smile to your face; your bank statement or being out on the water.
Will you enjoy that £1500 so much ;)
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Absolutely agree. In the whole scheme of things - if you want the boat and all that goes with it and the alternative is not having a boat the £1500 is a bargain in the sense of your overall increase in well being. If there are no better alternatives available, then do it.
 
Often a good idea to let the broker know in writing.
Confirm that you are looking at other options but are not likely to be making bids on other boats in the immediate future, so the offer remains on the table.
 
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