Where's a good starting point on a used boat

[Windjammer]

Got a call from a broker yesterday who has a boat that we are interested in - I suspect there is some "wiggle room" in the price quoted. I went to Boat Trader and pulled a list of the same boat, model year, engines, etc and calculated the average asking price nationwide and region. Threw out the top price and the bottom price for the averages.

In previous posts I 've read that when buying new, a buyer should be thinking MSRP less 35% (or possibly 40%). Anyone got a rule of thumb for "used"? Realize I am being a little vague but you never know if the broker is reading posts as well.

Boat in question is an 03 and over 30 ft. When new probably listed for 210K or so. Current asking price is 149K.

 

[Southpaw II]

Find out as much as you can about the boat, obviously, but assuming you do, that and the boat is exactly what you want, you next have to look at it. I know these seem common sense points to make, but bear with me.....During your investigation of the boat, the broker is sizing you up to see if you are a qualified buyer. It never hurts to line up the financing ahead, or as you go, and to let the broker know that. If you are a qualified buyer, aka cash or approved financing, you will get a better deal from the seller and/or broker. They will do whatever it takes to not let you walk. Find out why the boat is for sale; easy to do if you are working with a broker face to face, not on the phone. A 2-boat owner, an illness, a divorce, or knowing that the seller is filthy rich, might get the boat bought at a significant discount. If the boat is paid for, it will sell cheaper. All this really means is 2 boats that are the same will sell totally different depending on the seller's circumstances and how much homework the buyer does. If your $149K boat is near the midpoint of current market pricing, and the seller is motivted, you might offer $135K, and act reluctant to do so.

 

[KayKook]

You can act reluctant to offer the 135K, but no guarantee the seller will ever know that.
Most brokers will not get that deep into the transaction.

After researching the particular boat, market prices for the same boat in your area similarly equipped, make an offer you are comfortable in paying, and go from there.

 

[Turtlesboat]

It's kind of like asking "There's a house in florida, they are asking $250k, is it a good buy?" If you want real answers, you have to give WAY more information.

 

[chuck1]

It's kind of like asking "There's a house in florida, they are asking $250k, is it a good buy?" If you want real answers, you have to give WAY more information.

Ditto:thumbsup:

 

[Skip]

Oh Good Grief.

OK, I'll bite, Mr. "I won't share any useful info, lest somebody buy this too good to be true deal out from under me"

My guess:

03 320 Dancer, 350 MAG Horizon IBs, marginal electronics, as this may be a Lake Lanier Boat (who needs radar and autopilot on a lake after all?)
Probably under 200 hours, though the genny may have twice that since Lanier is a anchor out, float around sort of place. Or maybe the boat has less than 100 hours and the owner, having never really used his boat, just wants out.
Cockpit fridge, and maybe a beam vacuum as options.
I'd write a contract at 110K subject to survey and sea trial, and not go up very much at all...there are 03 and later 340DAs out there for about the same money-and the 340DA with big blocks is a more capable boat-and yes, I owned an '02 320DA.

regards
Skip

 

[Windjammer]

First of all - please accept my apology for such a cruddy original post - I should know better than to relay information to someone else by phone for them to post - by phone, while driving and juggling "child in college issue" and a "medical issue" with an aging parent (in their mid 80's)...

Again - my apologies.

WJ

 

[thomas]

Send me a PM and I will see what boats like the one you are looking at sold in your area using soldboats.com

 

[Drama Queen]

WJ,

Don't feel bad, these guys aren't really trying to be mean. They just can't help you out much with out more information regarding said boat. There are just lots of different factors before you can start negotiating out a price. These guys on here are good and they know of which they speak, they just need the important info before they feel they can give you good advice.

 

[fwebster]

I thought it was a reasonable question because there is no right answer.

On any 5 year old boat condition means absolutley everything. I've posted examples of pricing on similar boats several times previously, but it is easy to find as much as a 50% differential between a very clean, well maintained boat, with everything working, fresh replaceables, and a documented maintenance history and a neglected dog. You must be able see what you are buying for what it is and determine how much you are willing to pay for the boat in the condition this one is.

Is it at the top or near the bottom on the condition scale? Even more important, consider the price guidance you get with a question like this......is it based on a dog or a queen and how do you fit that to the boat you are looking at? You don't know and can't tell.

Look at the boat in person.....you cannot depend on published photographs..... and determine its condition and if you want to own it. Then based on what you learn about similar boats IN SIMILAR CONDITION, make an offer. Brokers all tell their listing customers to expect to negotiate some, so at a minimum the broker has conditioned the seller to expect to yield 90% of a brokerd asking price.

My theory is that you need to be "in the money" but on the low side of reasonable on your first offer or you will not be considered a serious buyer. So do all your homework and go try to buy a boat.

Good luck........

 

[sbw1]

Whatever you offer, the opening bid ought to be based upon data from a comercial source. NADA is frequently a source of low numbers. Knowing a person in the boat buying and selling business is helpful as you can get actual selling prices through his/her proprietary data base of completed transactions if you have a good relationship with the person. I can assure you, the guys in the business are very unemotional about buying for resale and are not afraid to walk away for a few hundred dollars. You need to be polite, but don't fall for the notion that you are going to insult a seller. Make an offer based upon a rationale and submit it with a contract and deposit when you are prepared to sea trial the boat. Going to closing is dependent upon a sea trial and survey. If you don't like the boat after driving it, just walk away.