Sunken boat project.

The state of the market.
Helped to move a not that old boat to the most financially insulated part of the known universe last year.
The boat was a absolute peach, up for sale in the ideal location for its design and application.

Seller has just kissed goodbye to nearly £35K + brokers fees + mooring costs, simply to get rid of it.
It is tough out there at the mo , a buyers market and not improving anytime soon ?
 
oldgit said:
The state of the market.
Helped to move a not that old boat to the most financially insulated part of the known universe last year.
The boat was a absolute peach, up for sale in the ideal location for its design and application.

Seller has just kissed goodbye to nearly £35K + brokers fees + mooring costs, simply to get rid of it.
It is tough out there at the mo , a buyers market and not improving anytime soon ?
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I wouldn't disagree.

With that in mind, I commenced this project on the principle that it's going to cost me double and I'll sell for half the price.....
 
oldgit said:
The state of the market.
Helped to move a not that old boat to the most financially insulated part of the known universe last year.
The boat was a absolute peach, up for sale in the ideal location for its design and application.

Seller has just kissed goodbye to nearly £35K + brokers fees + mooring costs, simply to get rid of it.
It is tough out there at the mo , a buyers market and not improving anytime soon ?
Click to expand...
He was clearly asking too much for it in the first instance.

I don't buy the "buyers market" nonsense. People have been saying that for years, it's rubbish. Nice boats, properly prepared and presented, sensibly priced will always sell. The brokers in my marina (Ipswich) keep turning boats over and 50% of the boats on my pontoon are new to their owners, one is a brand new 36ft mobo, the others are 40ft +
 
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PaulRainbow said:
He was clearly asking too much for it in the first instance.

I don't buy the "buyers market" nonsense. People have been saying that for years, it's rubbish. Nice boats, properly prepared and presented, sensibly priced will always sell. The brokers in my marina (Ipswich) keep turning boats over and 50% of the boats on my pontoon are new to their owners, on is a brand new 36ft mobo, the others are 40ft +
Click to expand...

Which is why I'm going to spend the next few days cleaning and polishing the project boat.

If it's a couple buying, the decision will be made mostly by the wife and a clean fresh smelling loo will be critical to selling it....
 
PaulRainbow said:
Could always make the new one an option, for extra money.
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I tried that but it was a bit of a disaster.

When offered the new engine, everyone assumed that there must have been something wrong with the original engine, which resulted in them wanting the new engine for the price of the original engine.

In the end I kept quiet about the “spare” engine, sold it with the original (which was absolutely perfect, just old), and then sold the new engine separately.

Selling the new engine separately was a complete nightmare because everyone wanted finance, wanted it installed, worried about the warranty, in fact they worried about their own shadow.

Eventually I found a guy who owned a car dealership who “got it” and bought it off me without even seeing it.

Selling boats is an utter nightmare compared to selling say plant or HGVs. Clueless buyers everywhere
 
potentillaCO32 said:
Why did you buy it then?
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To either, flip it, renovate and sell or renovate and keep.

I had no idea if the engine would run, so I bought a new one at a good price.

As it happens, I repaired the engine despite it's dunking.

I've driven the boat and it just doesn't do it for me.

My AMT is a quality Finnish boat which suits me down to the ground.

So I'm selling it as a running boat but with some rewiring required.

The new owner will get a bargain!
 
bowler said:
Sounds fair enough. What are you going to ask for it?
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A quick google puts the price of a used one around the 40k mark asking

I would reckon done right with the new engine is 30k asking land at 25k plus. No getting away from its history.

Done up a bit with a dunked engine will take a brave buyer so I’d ask 17k and settle 12-15k. Even then its a small market for the right buyer

That said, all done up with a decent broker who can reassure buyers could help but then theres commission to pay etc… Have a chat with Parker Adams. Looks like they are buying boats into stock to do up and sell. If nothing else they could advise
 
Mr Googler said:
A quick google puts the price of a used one around the 40k mark asking

I would reckon done right with the new engine is 30k asking land at 25k plus. No getting away from its history.

Done up a bit with a dunked engine will take a brave buyer so I’d ask 17k and settle 12-15k. Even then its a small market for the right buyer

That said, all done up with a decent broker who can reassure buyers could help but then theres commission to pay etc… Have a chat with Parker Adams. Looks like they are buying boats into stock to do up and sell. If nothing else they could advise
Click to expand...

Interesting!

I'd be better off selling the new outboard separately from the boat.

You never add the value of the engine to the boat price.

On the Hamble prices are higher and I'll be expecting more.

How much is down to the weather.

I won't go anywhere near a broker!
 
PaulRainbow said:
He was clearly asking too much for it in the first instance.

I don't buy the "buyers market" nonsense. People have been saying that for years, it's rubbish. Nice boats, properly prepared and presented, sensibly priced will always sell. The brokers in my marina (Ipswich) keep turning boats over and 50% of the boats on my pontoon are new to their owners, one is a brand new 36ft mobo, the others are 40ft +
Click to expand...
Purely the brokers estimate, not the seller , who had already bought his next boat.:eek:
Fully agree with your "It will sell, but its got to be a nice exanple and you had better be prepared
to be very negociable indeed if you want the see the back of it ?
Three or four £100k craft on our moorings that should have gone a long time ago but not distress sales, owners just sitting on their hands.
Purchases here seem to be cash with folks in their 50s drawing down on some not quite worth keeping pensions with boomers just going down behind the sofa for what to them is spare change.
The weather might be rubbish, but life is short.
 
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Hot Property said:
Interesting!

I'd be better off selling the new outboard separately from the boat.

You never add the value of the engine to the boat price.

On the Hamble prices are higher and I'll be expecting more.

How much is down to the weather.

I won't go anywhere near a broker!
Click to expand...
Few issues there…..the new engine doesnt really add value compared to another and thats a young boat / engine age issue when looking at your competitors. A new outboard vs one with 100 hours wouldnt bring much value difference to me as a buyer. A new vs 600 hours then there would be but i doubt your competition is up at those hours yet.

Location does play a part but your boat is trailerable so i could buy one in north scotland and tow it to Hamble for example.

2020 Oceanmaster 680DC

There arent any for sale in the UK currently which is helpful but there are others from different brands etc..

Its perfectly possible im low balling but given current goings on around the world…..I’d be suprised if I'm miles away. I truly hope I am though.
 
Mr Googler said:
Few issues there…..the new engine doesnt really add value compared to another and thats a young boat / engine age issue when looking at your competitors. A new outboard vs one with 100 hours wouldnt bring much value difference to me as a buyer. A new vs 600 hours then there would be but i doubt your competition is up at those hours yet.

Location does play a part but your boat is trailerable so i could buy one in north scotland and tow it to Hamble for example.

2020 Oceanmaster 680DC

There arent any for sale in the UK currently which is helpful but there are others from different brands etc..

Its perfectly possible im low balling but given current goings on around the world…..I’d be suprised if I'm miles away. I truly hope I am though.
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In the end a sale is dependent on many factors.

Being on the Hamble where prices are higher than other places is useful.

Presentation is everything.

Mrs HP bought some nice cushions and a throw which stage the cabin nicely.

Attention to detail is important too.

I have had quite a few boats so know the routine

Either way I'll come out of this smelling of roses, barring WW3..

Edit

Engine is on 484 hours as it was used and maintained regularly.

Just run in for a lazy 3.5 litre V6.

Honda's are good for 5,000 in commercial settings.
 
Hot Property said:
In the end a sale is dependent on many factors.

Being on the Hamble where prices are higher than other places is useful.

Presentation is everything.

Mrs HP bought some nice cushions and a throw which stage the cabin nicely.

Attention to detail is important too.

I have had quite a few boats so know the routine

Either way I'll come out of this smelling of roses, barring WW3..

Edit

Engine is on 484 hours as it was used and maintained regularly.

Just run in for a lazy 3.5 litre V6.

Honda's are good for 5,000 in commercial settings.
Click to expand...

I’d see if you can get this thread deleted first 😂
 
A boat that has been immersed is a project boat and that immediately restricts the buyers. I don't think project boat buyers will give a jot about new cushions or even much about presentation. Certainly 'wives', or partners, are not likely to be involved in a project boat presentation. Mine isn't.

If I were buying it, and i have refitted 2 immersed boats, it would be worth a thought to either fixing and selling or keeping for a while. Either way i would be assuming that future resale price will be hit by the history regardless of how good the refit.

I would be especially suspicious around the impact of a flooded engine and long term reliability.

Everything sells at a price but I would think that to the demographic that would take this on you might be suprised by how low they value it.
 
potentillaCO32 said:
A boat that has been immersed is a project boat and that immediately restricts the buyers. I don't think project boat buyers will give a jot about new cushions or even much about presentation. Certainly 'wives', or partners, are not likely to be involved in a project boat presentation. Mine isn't.

If I were buying it, and i have refitted 2 immersed boats, it would be worth a thought to either fixing and selling or keeping for a while. Either way i would be assuming that future resale price will be hit by the history regardless of how good the refit.

I would be especially suspicious around the impact of a flooded engine and long term reliability.

Everything sells at a price but I would think that to the demographic that would take this on you might be suprised by how low they value it.
Click to expand...

I'll be finding out shortly...
 
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