new season resolutions?

[n4585k]

Hang on unless I am missing something here, are you saying you wouldn't or couldn't pay enough and someone else could, so they bought the boat but you want to name and shame the seller for accepting a better offer and not going with your lower offer?

Had both parties signed the sale and purchase agreement and had you paid a deposit, or have l got this the wrong way round?

Of course that was not what i meant. We were still in negotiation and both parties made offers and counter offers. I was committed to buying the boat though. When a broker is then contacted by another interested party I expect to be at least notified that that is the case. I then could have and would have upped my offer. The fact that I wasn't contacted robbed me of this opportunity. Not good business ethics in my opinion...

 

[jonic]

Of course that was not what i meant. We were still in negotiation and both parties made offers and counter offers. I was committed to buying the boat though. When a broker is then contacted by another interested party I expect to be at least notified that that is the case. I then could have and would have upped my offer. The fact that I wasn't contacted robbed me of this opportunity. Not good business ethics in my opinion...

You have to be careful at busy times of the year like spring and this is often the outcome of trying to knock the price down instead of focusing on the boat. It sounds like you were trying to pay under the market value and a better offer came in before you got to contract and deposit stage.

The broker is paid by the seller to filter out poor prospects. A poor prospect being someone trying to pay too little or one who will fail to proceed. I suspect you were not seen as the best prospect in this case, because you may have been undervaluing the boat.

Someone else wasn't. If you had no signed contract, no deposit and you were offering under the asking price, the other buyer would be more likely to be the one the broker and seller would take more seriously at that stage.

Why was your offer seen as too low? Did you tell the broker this is all I can afford or the boat is overpriced, because if you did and you have led him to believe you are at your best price, he's not going to phone you first if a more realistic offer is made.

He is obliged by his client to listen to the more realistic offer and see how genuine it is. Especially if you have indicated you are not willing or able to buy at the price the boat is for sale for. Once he has the information he then has to take instruction from the owner of the boat.

I blame all these reality TV programmes like bargain hunt or location, location, location etc. for stuff like this. People can now be more interested in what they can chip the seller for rather than the item itself. A boat is not a house that has an inflated price due to a housing credit bubble nor an antique at an auction. The price of a second-hand boat is set by totally different market dynamics.

At this time of year lots of people are out looking, so if you are focusing on under bidding it can be a risky game if you are doing it against a boat you really want and like. If someone else was willing to and offered to pay more, I don't think you were robbed, I think you may (unbeknown to you) have been seen to be the one trying to do the robbing.

Sorry, don't take this the wrong way and to be honest I don't know the background to your dealings at all so I may be completely wrong. This is more of a generic reply and not aimed at you personally.

If you had a contract in place or your offer for the boat was at or nearer the asking price it would be different story.

Find the boat you want and if it's fairly priced, don't lose the boat to buyers who will pay for it.

 

[n4585k]

Hi Jonic, thank you for a great post. It put my experience in a broader perspective. I was under the impression, also from other posts on this forum, that brokers/sellers easily would ask about 15% higher than the value. So my initial offer was 15% less. I wasn't trying to chip the seller but I also don't want to pay more than what the market value is. I don't buy boats regularly, so my experience in this is limited. I do still feel that once a negotiation is under way, it is bad form for a broker to suddenly fall off the radar for a few days only to come back having sold it to someone else without giving me a chance to up my offer. Anyway, I am currently negotiating a price for a Beneteau 46 with a different broker who seems a lot more serious. Thank you again for taking the time to respond!

 

[laika]

1440x900

 

[jonic]

Hi Jonic, thank you for a great post. It put my experience in a broader perspective. I was under the impression, also from other posts on this forum, that brokers/sellers easily would ask about 15% higher than the value. So my initial offer was 15% less. I wasn't trying to chip the seller but I also don't want to pay more than what the market value is. I don't buy boats regularly, so my experience in this is limited. I do still feel that once a negotiation is under way, it is bad form for a broker to suddenly fall off the radar for a few days only to come back having sold it to someone else without giving me a chance to up my offer. Anyway, I am currently negotiating a price for a Beneteau 46 with a different broker who seems a lot more serious. Thank you again for taking the time to respond!

Hi n4585k

You are welcome and I am glad you are having more luck this time. Good brokers will be well aware of current actual sold prices and will price the boat right to the market price. Unfortunately these property programmes and misinformation on the forums are leading to more situations as the one you found yourself in. People don't realise and because they have seen it on TV assume you have to take a set % off anything you buy second hand - which for antiques found in the loft might work but in second hand sailing yacht sales with a pretty transparent market is nonsense.

Or they watch Kirtsy and Phil throwing around daft numbers over a pint in a pub garden, which is fine for the ever inflating housing market.

But yachts generally only ever go down in value, so there is no inflated credit driven bubble to willy nilly take off large % figures.

Any money taken off is right out of the owner's pocket and he's not going throw away 15 or 20% if that is under the known current market value. But some buyers are now so hell bent on achieving this magic figure, they miss boat after boat until they do find an owner who will come down below the market value. And guess what, unless he has pressing personal circumstances, there was usually a reason for it and they usually end up with the worst boat.

Good luck with your purchase and if you want any advice, feel free to give me a call and I hope you really enjoy your new boat :encouragement:

It's also worth noting that it's not a fast moving market and the average time taken to sell a brokerage boat is currently being quoted at around 300 days.

 

[prv]

It's also worth noting that it's not a fast moving market and the average time taken to sell a brokerage boat is currently being quoted at around 300 days.

Wow - in that case the six months we took to sell Kindred Spirit doesn't seem so bad!

Pete

 

[jonic]

Wow - in that case the six months we took to sell Kindred Spirit doesn't seem so bad!

Pete

Not bad Pete :encouragement:

I'm pretty pleased with this one this one though

 

[[2574]]

Oh Jonic! This is the prettiest boat that you have for sale!

http://www.jryachts.com/boat-details?boatid=442714

Rob

 

[daviddb]

I'm thinking more of breaking a life-long resolution that if it floats, flies or f***s it's better to rent. But now just, a few months short of my pension coming through and knowing there is a boat shaped lump sum attached...... Well I've always fancied one of those Cape Cutters.

*ducks behind parapet*

David.

 

[[2574]]

I resolve to take more time to enjoy our glorious coast a la Dylan Winter style. We just need more time! Work is overrated!

 

[LadyInBed]

Get the most I can out of my new set of sails

 

[Bru]

New boat, New season. So much to learn, bring it on!

Probably most nervous challenge - learning how to fly the spinnaker

 

[Greenheart]

Probably most nervous challenge - learning how to fly the spinnaker

Echo that. Especially while trapezing. And steering!