2007 290 Price/Value Questions

boughtabouy

boughtabouy

New Member
Jun 6, 2008
434
San Diego
Boat Info
Sea Ray 36 SD/Caribe DL12
Engines
Twin 496, 8.1 Horizon/Yamaha 40HP
Hi All,

My wife and I are thinking about purchasing a 2007 290 with 50 hours, and 5 years left on the full extended warranty. See link below:

http://continentalyachts.com/core/l...346&url=&hosturl=continental&&ywo=continental&


We've seen the boat in person and it's CLEAN. It's pretty loaded, with the 5.0's, genset, C80, etc., and it's slipped at the Marriott in San Diego (5 year wait list to get a slip). We know the asking price is a little high. We're wondering what a good price would be to offer. If we could arrive at a price of 100K or 105K, would we be in a decent position? We're just a little concerned with the weak midrange (30'-40') boat market these days.

Just looking for a little help from the experts...

Thanks for your thoughts.

Kevin
 
Price seems high. I would say, not knowing the value if you get the slip - the slip sounds like it has some significant value. But, the boat would be worth around 100k - but often the loan payoff is above the boat value. Good luck. Sounds like a great used boat. At $125k there are some very nice boats out there.
 
Thanks Skolbe!

I think it can be had for $110. I'm hoping for closer to $100, which will be the goal. The sale will be contingent on the slip, which does hold some value. It's a little more expensive than other slips in the area, but there are valuable Marriott rewards to consider. I also hear that West Coast boats maintain a 5-10% premium over other parts of the country.

Kevin
 
5 year wait list? Is that based on gas prices over the last 5 years or the next 5 years? I'd bet the wait won't be 5 years any more.
 
I would make an offer for the price you are willing to pay. If the seller takes it you score a nice boat you really like at what you consider to be a good price. If the seller refuses the offer, tell him to hold on to your number and give you a call if circumstances change. Let him know that you intend to keep looking, but if you haven't found something by the time he calls you will pay the price you offered.
It is a lot easier to buy a boat than to sell one so just keep looking around and you'll find the right deal.
As a buyer, I wouldn't worry too much about the soft market. It can actually work in your favor.
I view this the same as I view the Real Estate market. The prices only really matter to first time buyers and those that are getting out of the market for good.
The first time buyers get the benefit in a down market and take the beating in the up market. Those that are getting out of boating or the real estate market make out well in up markets and suffer in down markets.
Those of us in the middle aren't really effected all that much.
People going from one boat or house to another might get less on their sale but they pay less for their new purchase so it all evens out.
People who think that they are going to get top dollar on their sale in a down market and then get the deal of a lifetime because prices are low are more likely than not going to be sitting on the house or boat they are trying to sell for a long time and they risk missing the opportunity to make the change they are looking for.
Sometimes you just have to give a deal to get a deal.
 
Well, it's a done deal now...signing the acceptance tomorrow. Wish we didn't live 5 hours away from it.
 
You've got every option and upgrade on that boat. Good buy IMHO.
 
After a real bloodbath, 105K, not the 100K I was hoping for. Still, not bad for an '07 with 6 hours on the engines. I think it's been out 6 times, but it's been sitting in salt water for two years (I think). I battled pretty hard, and I think I got a good deal in the end.

Kevin
 
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