Spent 4 hours showing the boat yesterday

At this point, it sounds like you are restarting negotiations.

Dropping his price 20% is a real slap, considering you had a verbal ok. How ticked off are you? My initial thought was to suggest restarting your negotiation at $5K over initial asking price.

The most realistic selling scenario is to stand firm on your previously agreed price, citing your web reference and any other reference you can find.
 
mrsrobinson said:
.....He calls last night and says "We have a problem". What is the problem you asK? Someone has told him he is paying to much for the boat, so he dropped his offer by 20%. Not sure what we are going to do.
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Negotiation trick...

I would kindly tell him I don't believe my boat is 20% more expensive based on research I have done on the market and maybe ask him the source of the info of his friend.

Now as you mentioned, the rest depends on your tolerance to reduce the price or not.....
 
Bigal said:
Negotiation trick...

I would kindly tell him I don't believe my boat is 20% more expensive based on research I have done on the market and maybe ask him the source of the info of his friend.

Now as you mentioned, the rest depends on your tolerance to reduce the price or not.....
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"maybe ask him the source of the info of his friend."

I did just that last night when he called. I asked him for the names and contact info for the 2 brokers he said he spoke with. I told him maybe I got some bad information and priced the boat incorrectly, let me talk to your sources. He is getting me that info today.....

"The most realistic selling scenario is to stand firm on your previously agreed price, citing your web reference and any other reference you can find."

I also have 3 sold listings from a broker we are working with that I plan to email him...all 3 sold for quite a bit more than our agreed price.

Hey Gary, maybe I am good at sales? I have already done what 2-3 folks suggested, before they even suggested it.........but, she is still not sold yet. So, maybe I am bad at sales...... ;-)
 
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Greg;

What do YOU think the boat is worth? Are you confident that your sources of information are correct?

If you believe you are priced correctly, then I would NOT have conceeded that "maybe I have bad information". I would merely have sent him your sources. And maybe requested his sources -> but probably not. Afterall, he is not REALLY going to send you information telling you that you are underpriced!

I think I am going to go with Gary's earlier sentiment (Paraphrasing): "You haven't sold poop until the check clears".

Given that you HAD a price, now he is going back on it and signficantly lowballing you - - > You have to be open to the possibility that he is now playing you. If you want the deal done, I suggest standing firm. And ensure that the funds are secured BEFORE giving him possession of the boat.

If you think your boat might be underpriced, or if you think the deal is going south, then maybe you should take the MIDDLE of the three SOLD prices you have in hand, and restart negotiations from there.
 
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comsnark said:
Greg;

What do YOU think the boat is worth? Are you confident that your sources of information are correct?

If you believe you are priced correctly, then I would NOT have conceeded that "maybe I have bad information". I would merely have sent him your sources. And maybe requested his sources.

I think I am going to go with Gary's earlier sentiment (Paraphrasing): "You haven't sold poop until the check clears".

Given that you HAD a price, now he is going back on it and signficantly lowballing you - - > You have to be open to the possibility that he is now playing you. If you want the deal done, I suggest standing firm. And ensure that the funds are secured BEFORE giving him possession of the boat.

If you think your boat might be underpriced, or if you think the deal is going south, then maybe you should take the MIDDLE of the three SOLD prices you have in hand, and restart negotiations from there.
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Agreed, thanks for the advise
 
Greg....what type of contract are you going to use? Any good sources for online sales contracts?
 
mrsrobinson said:
........
Hey Gary, maybe I am good at sales?
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I'm not sure if I misread the post, but does this mean you sold her?
If I'm correct in reading that you haven't sold it, Ignore this offer if you believe you are already underpriced and see how badly he wants your boat.
 
quality time said:
So his buddy looked on Yachtworld and saw that you can get a '95 330 for as low as $35K without knowing the condition of yours and told him he was paying too much. The problem with selling a 330 is that the market will always be flooded with them. Your boat's condition and your knowlege sets yours apart from the others. My old 330 is for sale for $70K and I know it's not in as good condition as yours and the owner is not very knowledgable. Your boat is priced right - if the guy wants to listen to his buddy then tell him to move on...
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I agree... Your boat is priced in the market, in fact maybe a bit low. Unless you really want to get a bigger boat now, I would not move on the price.
 
I would offer that you will be able to help him with all the systems and handling of the boat if he wants. See if he will get that elsewhere buying a boat!
 
I wouldn't change a thing. 20% is a slap when you're talking those prices. Let him go and take a look at these other boats he's now aware of and see how they look, and see how knowledgeable and courteous and thorough the owner's of these other boats are. Either he'll be back, or he'll miss out on a great boat that someone else will buy from you.

Tom
 
Question Greg. What will the boat be worth in April 09? What is wintering the boat going to cost? How many inquiries have you actually had on the boat?

If you want to really move up , 20% might not be so bad. nice photos, courtesy and all.
 
Dancin Dave said:
Question Greg. What will the boat be worth in April 09? What is wintering the boat going to cost? How many inquiries have you actually had on the boat?

If you want to really move up , 20% might not be so bad. nice photos, courtesy and all.
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Agreed, all of which is on our mind.
 
Good points Dave. I had a similar situation when I sold my 2002 300DA. I was looking at the cost of winterization and storage plus the depreciation over the winter months if I didn't sell it in the fall. It was also time to replace manifoilds/risers/elbows, which was another 2-3k. If this guy's a savvy buyer he probably knows there will be no better time to try and squeeze you.
 
Yes, but if you buy another boat the cost of wintering this one isn't a savings.

Right now is when you need to SELL your boat to the buyer.......what does your boat have going for it that the one's the buyer is comparing against does not? Current manifolds/risers?, new water pumps?, clean heat exchangers? fresh detail?, new canvas?, recent major overhahuls?, location?, brokerage commissions? I don't even know the numbers, but I bet I can find 20% worth of reasons to buy your boat instead of a low price dog on yachtworld.com.

But, remember that this may just be a timid guy's approach to negotiation.....hell, I'd just tell you "I'm not paying you $Y, but I"ll offer you $X," and then let you stew in your juices. Your guy has given you the opening to make your price pretty much stick......but, I'd let him save face with his wife and friends and reduce the price enough for him to look like a hero, however, I'd also tell him that the survey is not going to open a renegoitiation ----this is it.
 
Frank, good advise, something we have thought about...create a win for the buyer, even if it's a small one...wow, maybe I am better at this then Gary thought ;-)
 
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Yeah. . .no negotiation after survey. Your boat is a 1995. . .are you saying it will have NO issues after some guy goes into the engine room and starts yanking on the wiring harness? Or puts a meter on the copper bottom paint of your still dripping hull just hauled after seatrial and asks why there is moisture? Or why the starboard trim tab is 1/4" out of alignment? Or starts talking about hull damage associated by the 1/8" nick on some spot along the rub rail you didn't see yesterday?

Yeah. . . no negotiation after survey.


Talk the Nelhalenia about that :)

- -- - -

Again. . what is the boat worth to you? Is this a fire sale, or is it not a fire sale?
 
Stick to your guns, he's pushing you. If you feel your price is based on sound research I wouldn't waste a second talking to the people he refers to. They didn't see the boat. Refresh his memory as to why your boat is worth the price, then let him know that your willing to wait for the next buyer.
 
The deal is off. He called, told me the 2 brokers would not help him today (go figure, I told him that yesterday, why would a broker do www.soldboats.com lookup for you with no incentive) and then went into a song & dance about his bank not approving a loan amount for his latest offer, that his bank would only approve NADA. I asked him why he never spoke with his bank prior to making an offer on our boat and he went into some other song & dance about getting approved for a different boat, not ours. So, as it turns out, he never even had the funds for our first agreed price. He also tried to tell me it's a 13 year old boat, emphaisis on old. I reminded him when he first looked at, when he made an offer and when he changed his offer it was a 13 year old boat...that never changed. I told him the deal was off.

My guess is there never were 2 brokers he spoke to yesterday and he was never even approved for a loan for our boat. My guess is I called his bluff by asking to speak with these 2 brokers.

He also tried to tell me how buying a boat is exactly like buying a car or buying a house and that he did his homework. I respectfully disagreed and left it at that.

From day one he said he had secured bank financing and had done all of his research on pricing. I ended the conversation with a thank you and suggested he use a broker to find a boat for him and to teach him how the whole process works.

So, how can I find out if someone really has the money/finances to buy our boat when they say they do? I am thinking next time, once we reach an agreed price make it contingent on them providing bank documentation that they have been approved or they have the funds available. Like the seller of a home does.
 
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