Might have found the one... offer help, please!

We’reThere

We’reThere

Member
May 19, 2020
30
West Michigan
Boat Info
2015 350 Sundancer
Engines
8.2l 380 MAGS w/ Bravo III Axius
We may have found the boat for us... BUT... The asking price is pretty steep and seems to be well above market value. It’s a relatively new/lower hour boat and is well equipped with factory options. Compared with NADA alone it’s listed over $50k more than Low Retail pricing. I’ll keep this posting intentionally vague but am happy to provide more details via PM to anyone that may have some more insight.

I want to come to the table with an offer that’s a reasonable starting point... In this case I was thinking 25-30% less than asking price with 10% cash deposit contingent on Survey/Sea Trial. Is this a good starting point or am I not even going to get negotiations started with that?

I look forward to hearing all of your feedback, thanks in advance!
 
Is there a broker involved? Or is this for sale by owner?
Nada is a guide, but is usually low or otherwise not accurate.
How is the boat priced comparable to other listings?
In my experience, list prices and sold prices have been all over the place. So figure out what you're comfortable with and work from there. Good luck.
 
A relatively drunk broker once told me that they suggest to sellers that they price the boat @ 10% over what they expect to get for it. If that holds true, your initial offer should be no more than ask - 10%. If that is still significantly higher than local comps, chances are the seller is either not yet "hungry" enough, or the boat is partially made of unobtainium.
 
vague really doesn't work......give us more details if you want real help - as above, NADA is a joke for boats - what are people asking for similar boats? is there a broker involved? can you get sold comps? sometimes the price is high because of what people owe on it......not you're fault they're upside down.....
 
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I've so far bought a late 90's 340 and a late 90's 400. The swing between low and high listings was $50k+ both times.

In my experience looking at all similar listings on boattrader.com within 1,000 miles is a better indication of market value than NADA. Salt vs fresh, options, condition can all equal a $50k spread pretty easily.

Can't hurt to make an offer. Some folks have done a lot to their boats and it shows in the asking price. Others have an emotional attachment that can also show in the asking price. Others are motivated to sell and/or have a below average condition boat...
 
I'd suggest making the offer based on what you'd be comfortable paying for the boat - forget the asking price. If they say no - move on. Make a spreadsheet with all the active listings and include options each boat has and select the one that has all the options that you want and chase that one. Don't buy one that you think you're "stealing" as there is a reason they're going to let it go that cheap.
Once you get an acceptance you're in for a lot of activity and expenses (travel to make an in depth review, sea trial, fixes you'd like to make and then all the stuff that you want). Depending on the boat the next expenses before you even own the boat can be significant.
The best advice is - buy your second boat first. Don't settle for something you're going to want to trade out of in 2-3 years.
 
I had an offer refused on a 480 a couple of years ago. I made the offer based on Boattrader similar boats. When the broker refused and tried to explain why it was priced higher, I told him it was the highest priced 480 IN THE WORLD, and had Detroit Diesels (lowest option in that year boat) for motors. He thought I couldn't afford asking price :)
 
I also think you need to go see the boat. Our boat has been upkept to a standard only I approve. It’s an older boat but literally nicer then Any I have personally been on. Is it worth it? Only to the right buyer who can see the value. It depends on where your comfort level is with deferred maintainance
 
spikedaddy99 said:
I had an offer refused on a 480 a couple of years ago. I made the offer based on Boattrader similar boats. When the broker refused and tried to explain why it was priced higher, I told him it was the highest priced 480 IN THE WORLD, and had Detroit Diesels (lowest option in that year boat) for motors. He thought I couldn't afford asking price :)
Click to expand...
Is that the one still for sale up in Sturgeon Bay?
 
I agree with others here that you should offer what you think the boat is worth and what you want to pay for it. Do the online research so you have the comps. Try not to fall in love with the boat before you buy it. It hurts the negotiating stance. Wanting a boat but being willing to walk away is crucial in negotiating. Don't worry if what you want to pay, and what you think the boat is worth, is way below their asking price.
 
Another item to considered on the NADA/survey value side is financing. I know...I know...99% of CSR members pay cash for all non-essential items and just about everything else. But for those of us poor bastards that finance our boats the NADA guide and/or survey value will impact our ability to finance a boat. Worth keeping in mind when wanting to pay above market prices for items you may be looking to finance...
 
Wow! Thanks for all of the quick feedback everyone. It is a brokered boat and I’ve been in touch with the broker to set up a viewing soon. Unfortunately I need to keep it on the vague side to keep the parties involved out of trouble as our state is still under a “Stay at Home” order for at least another couple of weeks...

The boat is the highest priced out of it’s model and year on the market in the United States, at least $20k more than the same model year comps and over $50k more than a pristine one year older model that has less time on it and is identical in options and layout... If push comes to shove we are willing to make the 10 hour drive to look at the one year older model. We are definitely in the mindset to “buy our second boat first” and because of it we’re going to have to finance a portion of the boat. If we went with a 5 year older model we would likely be making a cash deal. In the end we aren’t in a huge rush to buy. Most of the marina’s we’re interested in keeping the boat are under water and there’s no end in sight at this point... We’ll enjoy the hunt in the meantime. Thanks again everyone!

Stee, I appreciate the feedback and from what I’ve read on the forum we boat in similar areas. I’m sure our paths will cross at some point, first round’s on me!
 
I am not convinced that the economy is out of trouble yet? That said my advice is not to be an emotional buyer. I speak from experience. Right now cash is more of a King than usual. Depending on your experience etc... Maybe an older boat in real good condition with great maintenance records maybe, just maybe the way to go. Almost no matter what boat you buy it is a greatly depreciating asset. That is not always the case but for most it is. As stated earlier the hidden cost also have to be factored in. My advice is take your time and do your due diligence on this boat(Pros/Cons etc...). Look at other boats etc... If after some reflection that boat still gives you the fizz then bargain hard but fair and pay only what you can truly afford.
 
“over $50k more than a pristine one year older model that has less time on it and is identical in options and layout.”

I think I’d be looking at that one!! Or at least make the broker aware you’re looking.
 
Be prepared to back up your offer. I submitted an offer on an "overpriced" boat last year - it was upwards of $25,000 more than anything on the market. Dealer refused it. I gave a factual basis for my offer, based on another vessel I was looking at.

Bottom line - after a few days of back and forth - I bought the boat for a bit over my original offer - but less than my top dollar on it. Had the dealer countered on the original offer, I'm sure I'd have ended up paying a bit more for it.

Moral of my story is - have facts. My offer was taking delivery where the boat sat. This dealership was about to move the boat 6+ hours, on it's own bottom, spending $xxx in fuel and their time, plus the risk of hitting something while underway. Or sell it to me where it sits and save that expense.
 
Timeflys said:
“over $50k more than a pristine one year older model that has less time on it and is identical in options and layout.”

I think I’d be looking at that one!! Or at least make the broker aware you’re looking.
Click to expand...

The other boat is under the banner of the same brokerage company but in another state... I would assume they won’t have a problem referencing the two boats in question. In the end I know the worst that can happen is we keep looking, and that’s totally ok.

I’m not worried about making what I feel is a fair offer based on research. I really just wanted to get feedback from all of you based on your experiences. If we stay in the boating world, which I assume will be the case, there’s a good chance we’ll deal with this broker or their company again. I don’t want to make a total ass out of myself on our first deal and it doesn’t sound like my concerns are out of line.

I’ll continue to check back and see what you all have to say. We were supposed to see the boat again this Saturday but just found out we will be pushing that back to next week sometime. Thanks again to all!
 
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