Tim- sorry to hear that. A very noble thing you are doing to honor your employess at the sake of a luxury item like a boat. Once you get attached to a boat, its like another kid, so I feel you loss on that end.

One of my dock neighboors has the exact same boat as yours, only black hull, and paid about $250 for it new last year, if that is any help.

 

Sorry Tim. The good thing about Sea Rays is that you can always find another one to fall in love with when the market picks up again...

 

Sorry to hear about that Tim. I hope everything works out for you and your company. Brian

 

Sorry to hear that - what type of business are you in? I think many are feeling pain these days.

 

Tim,

As a suggestion, contact Jim at BOE and see who his broker affiliate is here in South Florida. That would be a step in the right direction.

I feel your pain. I have been wrestling with that same decision myself and it is tough....especially the way the market for boats, or for anything else is now.

I am a contractor here in Palm Beach, Co and I was in Palm Beach County Building and Zoning yesterday over at Jog and Okeechobee. I have never seen that facility so deserted...I thought I had walked in at 7 AM on a Sunday!! I mean nobody was there except the people that work there.

Good Luck with your endeavors.

 

That is a shame. But sheet happens. Just think how loud your daughter will say "Cool" when your wife films you passing by in your new 43DA next year!

 

Now that's exactly what I'm thinking!!! Too funny.:grin:

 

You have your priorities straight. It's tough when you have a business dependent on another for a big chunk of your business.

It worries me when I hear some of you say how much the boating traffic has slowed down. Florida, maybe unlike other states, needs a health economy for its housing and tourist businesses. It was frightening not to see any signs of life this season and if anything the recession has only deepened this spring.

 

Hey Tim,

Sorry for what you are going thru.
Not sure if it helps, but you have a lot of company.
We are hanging in there but compared to a year ago our savings and income are well down.

 

C&S Marine will sell you boat for you. I worked with them on selling my 280 and buying a new boat. Since I wanted to trade it was hard to pull off but they worked with me, told me pricing on what to expect in the current market. They will sell you boat for you, it will be a low number but they can sell it.

 

Hey all, thanks for the well-wishes, but I can tell you that this is a decision I make without an ounce of regret - my priorities are to my folks, not an object, but just the same, I thank everybody for their thoughts.

Sprink and Tom, I thank you very much for the recommendations, and I'll look in to both of them. If anybody else has any other ideas, I'd love to hear them.

Thanks again,
Tim

 

If anybody else has any other ideas, I'd love to hear them.

Thanks again,
Tim

Perhaps keep the boat and your employees, but cut your partner loose!

 

Hey Tim,

I don't think you need a broker for this.. If you post adds and photos on BoatTrader.com and boats.com - some of those sites, you might find it just as easy to sell yourself and save the broker's commission..I've bought and sold my last 2 boats that way. Or if you really want someone else to handle for you, you might want to see what MM has to offer...I have someone I deal with there so if you call me I can talk to him for you...

Barry

 

Thank you Barry - I'll definitely consider that, but I always figured that to get on Yachtworld you had to be a broker, and from what I understand, Yachtworld was the best site out there for selling a boat.

I'd love to save the comms though if I didn't have to pay...

-Tim

 

Go and check out both sites. As a seller and a buyer, I did not want to pay large commissions and found that today everyone looks online and my experience was with BoatTrader and I bought and sold 2 boats thru there, and one was local and the other I ended up buying in Kentucky and bringing down, so you can get buyers from all over the country if you have the right boat at the right price. It's also a great way to see what non-repossessed boats are going for that are similar to yours. And no one is going to work harder to sell your boat and know more about it than you...IF MM does not have any of your size in inventory it also might be good to talk to them and see what they have to offer as they do get some traffic...

Call me anytime...954-224-7411..

Barry

 

Thanks buddy - I always appreciate your willingness to help.

-Tim

 

Tim,

PM Jim at BOE and he will run a "Boats Sold" search on your boat. This is a more accurate snap shot of where the market is based on input of member brokers an based on what the real sell numbers are. There is a big spread between what the ask is and what the final sold number is.

The boat market right now is all over the place and there is a lot of junk out there from the repo market that are driving the numbers down.

 

Tim,
Scott Roberton was the seller's broker when I bought my boat from them. I can't say enough about Scott's professionalism and timely follow up even though he represented the seller.

Scott Roberton
MarineMax - Motoryachts
727-536-2628 Office
727-638-7890 Cell
813-354-3377 Private Fax
scott.r@marinemax.com

 

Thank you very much - I'm wondering though if I'll have to go with somebody local in the Ft Lauderdale area as that's where the boat is. Any thoughts?

-Tim

Tim,
Scott Roberton was the seller's broker when I bought my boat from them. I can't say enough about Scott's professionalism and timely follow up even though he represented the seller.

Scott Roberton
MarineMax - Motoryachts
727-536-2628 Office
727-638-7890 Cell
813-354-3377 Private Fax
scott.r@marinemax.com

 

Go with Jim.
Sorry to hear that Tim, but hey it's metal, plastic and glass. It can be replaced. Good for you for looking out for your people.

Good luck.

 

depends on if you want to use your boat while it's for sale. Some places want the boat on premises, some don't. Just something to think about.

Sorry to hear about the circumstances.

 

Tim,

Sorry to hear it. I've been running my own businesses for 25 years now. I know where you are coming from. Been there.

Unfortunately, this type of corporate responsibility is not what makes headlines. The only thing we ever hear about is the few greedy SOBs that make the rest of corporate America look bad.

Cudos buddy! Maybe we can both upgrade to that 43DA when things get back in swing/. :thumbsup: In the meantime, its all :smt024.

 

Tim,
Scott represents boats all over Florida, if that helps. He was travelling to Miami to sell a Hatteras when I hooked up with him.
Good Luck,

 

My $0.02...

List it yourself. Offer "Free Shipping" up to a max (i.e. $2000) and keep the price low.

Brokers - I looked at TONS of boats all over Florida before I bought mine, and out of all the brokers I met, none really added any value - but I did happen to meet a lot of guys I'd like to have a beer with. I think every broker in Florida had my number. The only value they added was listing it. I'd ask a question, and they never gave me a response (or it was wrong). Despite my requests, they never took additional photos for me. I can go on and on.

Broker Fees - A lot of people are listing their own boat without having to pay a broker fee, so they can list it at a lower price. This means that you will have to list yours to compete PLUS you lose the broker fee. You can save the broker fee and use it to pay for extras such as shipping costs, multiple listings, a custom website, videos, lower price, etc.

"Free" Shipping - Most people don't look outside their market because they don't think they can ship or transport a boat this big. Also, most folks don't have experience with shipping, and they won't bother when there are so many boats for sale in their area. But with "free" shipping that you offer to arrange, you really increase your market potential. Gas prices are cheap right now, and drivers should be plentiful.

Move the boat - I don't think you will like this option, but South Florida has a million boats, and it's a 400+ mile haul just to get it to the mainland. Further, most people outside of Florida think these boats are over exposed to sun & salt. I've heard you can knock 10% to 15% off the value of a boat if it's in Florida. If you move the boat to a better location (preferably with a better market), you might have better luck (Sorry, you won't be able to use it).

Store It Inside - If you can store it inside, it will help keep the boat in pristine condition. It's hard to wash & dry the boat before each showing. I looked at a lot of boats that were crusted in Salt spray, or wet from the previous rain/dew. If a buyer looks at 3 boats, and yours is the only that looks like it was just washed & waxed, this will be a big advantage. Also, I couldn't control the weather, so when I looked at boats and it was too hot, or raining, then I didn't spend too much time on it. If you have a dry storage, they can pull it outside if the weather is nice.

Custom Website - If you're tech savvy, it's not hard or expensive to create a website specifically for your boat. This allows you to market your boat exactly as you like, and it can look very professional. You can have super high res photos, videos, etc. etc. which is great if you're selling it outside your market. This is not an uncommon practice on very expensive boats. You might be able to provide links to your website from other sites like Boat Trader.

EBay - Ok, I know you won't like this. But EBay is a good indicator of true market value. If you're a seller, you won't think it is. On the other hand, you will be able to sell it quickly - but perhaps 10% less than you thought. If you have monthly costs associated with your boat (i.e. a payment, boat insurance, slip fees, etc), then you have to consider this. For example, you can sell it now on EBay for 10% less than on YachtWorld but Yachtworld will take 10 months or so. However, does 10 months of payments, slips, insurance, etc. equal the 10% of the difference on the boat and the 1 year depreciation value?? (My 280 seems to depreciate about $8000 a year). If you do this, you need to list it with no reserve and start it at $1000. While this sounds CRAZY, this will create a buzz and you will generate a bigger audience then you could ever get with broker listings. You should be able to end the auction early if you get a real buyer or if the price seems too low. Keep in mind that the price goes up 5% to 50% in the last hour.

Price - The biggest factor in selling everything is the bottom line price. You can have the best boat and the best broker with the best listings with the best wax job, and it won't mean a thing if the price is too high for the market. Most homeowners think their home is worth 15% to 25% more than what it actually is, and I think the same is true of boats.

Timing - I've heard that the boat market has a one year lag behind the economy. So at best, the boat market probably won't pick up for another year or so. Also, what is the best time of the year to sell a boat? I don't know that answer, but that info might help.

 

Wow, that ebay strategy is very aggressive - I like it!

I'm going to explore that because you raise a good point in that you might take a 10% hit but is it worth taking 10 months on yachtworld and paying a broker fee.

I'll just have to explore the ramifications of pulling the listing just before the auction ends should the bids only get up to about $100K ;-)

-T

 

Try listing it yourself on boattrader or even Craigslist. I know it sounds crazy, but I sold my last boat on craigslist to a guy in Virginia, and I live in south Georgia. I agree, save the listing fee and make sure you are priced right. Buyers are out there on the internet right now.
I do hope your business picks up soon. We all hope it will turn around for everyone!

 

Perhaps keep the boat and your employees, but cut your partner loose!

I like this idea best...while Matt is a great guy I am pretty sure he does not even float, and I know you are not keen on the idea of spending a weekend on him.

Bad news indeed. Hopefully something will come up and allow you guys to keep the boat. You can always come up to MI and get a free ride, even though it is on a Formula.

We had a great weekend and Metro, we missed you guys though. Everyone was there...even the DYC crew. Take care, give me a call.

Your MI bud, Steve.