Used boat prices

[lisilou]

I can't see any rhyme or reason to the prices. I mean, how can a 2013 boat be priced lower than a 2011 boat. Same engines, slightly different spec. How are you supposed to judge what's the right price? The differences are huge.
L

 

[bluejasper2]

your not a happy bunny boat sales people are a law to them selves,big difference between them and car sales, car dealers cannot do enough for you to get a sale were as some boat sales people do not even look up from there desks when you are looking to spend a couple of hundred grand on a boat.

 

[petie]

I also am totally confused by current pricings. The prices of the mobo model I am looking for vary by some 20%. same year spec and condition. Recently suggested a tentative 15%
price reduction on a nice condition model and got an immediate yes. Question is, was I offering too much? Who knows but it is putting me off buying.

 

[lisilou]

Thing is, we all know a boat is only worth what you are willing to pay for it but it would help to have some kind of solid baseline. Oh well, I guess it's a case of doing as much research as poss, viewing as many as poss to get realistic/in the flesh comparisons and just dipping your toe in the water with an offer.
L

 

[Spi D]

How are you supposed to judge what's the right price?

Certainly not by comparing asking prices!

Has been discussed before: Many aren't priced to sell at all.

 

[petie]

As mentioned, I suggested what I thought was a ridiculous offer which gained immediate approval.

 

[rhino_mac]

Used boat prices are a nightmare. Just sold my boat - a Monterey 250CR.

Looking around, there were about 5 boats for sale, all with higher engine hours and mine had new Permateek to the cockpit and swim platform and all new Garmin nav/radio rather than the 8 year old standard fit. Prices for the others were £35,000, £40,000, £43,000 and £45,000 - all 2006 boats with diesel engines.

I put mine up for £37,000 with a broker (on their advise) and sold at £32,000 and I was hardly inundated with offers (4) although I did put it on in winter (so sold reasonably quickly). On the basis I paid £33,000 for it two years ago, and all the offers were between £30,000 (which I refused) and £32,000 (which I accepted), I would guess the market price for a nice condition boat is between £30k and £33k.

So why on earth are people trying to advertise at £40k+. Funnily enough, some of these boats have been on sale since I was looking originally.

As an aside, I was recently looking at adverts for an SC35 - perhaps as my next boat in a few years. Prices for those seem to be all over the place!!

 

[Jurgen]

A lot depends on the sellers position, if they've just put their pride and joy on the market but have no real hurry to sell then they will probably try and hold out for a few months.

If the seller has committed to another boat or needs to raise money for another reason then they may well price to reflect this.

SWMBO was thinking about selling her car and asked what I thought we should sell for, suggested we establish the market price and sell for 5% less to try and gain some interest. Boats are very different to cars as no 2 are the same and comparisons can be difficult.

As previously stated it's a buyers market for some boats and a sellers market for others

 

[Thepipdoc]

Take a look at Autotrader and select any model of car and you will find a huge difference in the price - same year, same model, same spec- different price by thousands.
Boats are no different to most things for sale.

 

[julians]

I put my boat up for sale in June last year, and sold it in September.

I've just checked and the same boats (that are the same make/model/year/similar but lower spec as mine) that were for sale back then are still for sale now.

They are asking around £18k for these boats, I sold mine for £12k.

 

[rafiki_]

As an aside, I was recently looking at adverts for an SC35 - perhaps as my next boat in a few years. Prices for those seem to be all over the place!!

Have a word with Lisa. There might be a deal on

 

[volvopaul]

Lisa are you thinking of selling? I may have a buyer for a nice sc 35

 

[Seastoke]

for me people shop local for boats like cars trouble is cars are ten apenny and boats you want are rare so you could get good money from a novice cause they dont know how easy it is to transport boats or they cant be bothered too look around the country

 

[lisilou]

No Paul. I'd love to upgrade to the 42 but Chris needs some persuasion for it to happen just yet. All in good time I guess but spending that kinda money sticks in your throat a bit.
L

 

[ari]

Recently suggested a tentative 15%
price reduction on a nice condition model and got an immediate yes. Question is, was I offering too much? Who knows but it is putting me off buying.

Surely if you've had an offer accepted then you have, in fact, bought?

 

[petie]

Words 'tentative' and 'suggested' apply. Not firm offer.

 

[Spi D]

I've collected lots of info and done lots of calculations, in an attempt to estimate what to offer - and what depreciation to expect in the family-boat segment around 30-35'

I find that

• Identical models and makes, from same year, vary up to 30% in asking price. Maybe due to sellers not being keen or not realistic. Some have put boat up for sale without really wanting it to go (marital pressure, bankers demand etc.). Asking price is to be seen as a starting point for negotiation.
  
• Condition varies a lot, and those with a wreck for sale opt for the highest prices just as those with the gems. Surveys are crucial.
  
• Descriptions are as different as people - and the understanding of "immaculate" varies greatly between countries, cultures and sellers' knowledge. (Spanish Fairline 35 "in original shape" translated into "no regular maintenance for years, engine symptoms completely ignored"). Many really believe that their boats are top value - some simply because the bloke who initially sold it said so
  
• On average boats in a "good for her age" condition with 7-15 years behind them drops 8-10% per year (calculated on each years residual value). Give and take something for extra wear or real improvements.
  
• As an investment boats are no good and will cost good money to keep. The idea is to get invaluable joy, pleasure and a very meaningful pastime - all year round. If you buy wisely, spend to keep it mint and sell smart, you may be able beat the statistics and get close to zero depreciation
  
• Some hope, by deliberately tweaking the facts, to attract attention and then talk a buyer into a deal. As the wise fool the stupid, they obviously look for stupid buyers
  
• Proper homework is a must before travelling and asking for close-up pics of parts not presented in the ad is one way to get closer to the truth. If you look closer, photos often tell more than the seller intended
  
• Some buyers look way above their budget with an attittude of "if I can get that boat for this little money, I'll take it! I think.."
  
• Some boats are truely mint, indeed worth the high price but some (more) really are NOT! Ol' sour buckets with huge backlogs in service and maintenance where the owner just found the highest announced price anywhere, and adopted it.
  
• It is fair for buyers to challenge prices. I just don't get the idea of negotiating prices before even viewing the boat?
  How can you possibly know the finer details that might make an argument for price up/down adjustment if you haven't even viewed the thing?
  
• Not a few spot the highest price, often for a mint sample, and put their own up at same price regardless of condition.

 

[volvopaul]

There are still bargains out there. I know.

 

[Spi D]

There are still bargains out there. I know.

Indeed.
IMO Due dilligence is the way to ensure you get one.

 

[oGaryo]

It's a day on since Lisa started this thread and Henry hasn't posted anything yet, what's going on! :confusion: