Reply
 
Thread Tools Display Modes
 
Old 07-19-2014, 12:05 AM   #1
Newbie
 
City: Vermont
Country: USA
Join Date: Jul 2014
Posts: 1
Question regarding boat value vs seller $$

we are currently looking to purchase a boat - focusing on the Mainship trawler.. we have one we are seriously looking at but the price is so low, it really concerns us.. cannot find any issues when searching on HIN id .. it is a 40 ft - 2008 ... does anyone know of any particular issues with this year .. that might be cause for concern .. the boat value is over $300k but seller has it listed for $200 and has countered our offer with $195 .. that is so far below value.. it just makes us wonder .. thanks -
__________________
Advertisement

AuxCoastie is offline   Reply With Quote
Old 07-19-2014, 01:20 AM   #2
TF Site Team
 
ksanders's Avatar
 
City: SEWARD ALASKA
Country: USA
Vessel Name: LISAS WAY
Vessel Model: BAYLINER 4788
Join Date: Feb 2011
Posts: 3,954
I'm thinking your "value" at $300K is off.

A boat is worth what that particular seller will and can sell it for.

and

What a particular buyer is willing to pay for it at that time.

If you are deriving "value" based on the average yachtworld listing, remember that a large percentage of boats listed on yachtworld never sell, or at least they never sell for anything near what they are listed for.

Even checking the sold boats will only tell you what a particulkar buyer and seller agreed to on a particular boat on a particular day.

It has no bearing on what your seller is willing to take based on his real or perceived need to get rid of the boat, and his ability to do so.
__________________

__________________
Kevin Sanders
Bayliner 4788
Seward, Alaska
www.mvlisasway.com
ksanders is offline   Reply With Quote
Old 07-19-2014, 02:17 AM   #3
Master and Commander
 
markpierce's Avatar
 
City: Vallejo CA
Country: USA
Vessel Name: Carquinez Coot
Vessel Model: 2011 Seahorse Marine Coot hull #6
Join Date: Sep 2010
Posts: 10,262
I've almost always bought new, but that is a good/partial answer for my current standard of living (small condominium, older vehicle, and so on, but have a great boat). Perhaps I'm too focused on solving my own problems rather than inheriting other peoples' problems.
__________________
Kar-KEEN-ez Koot
markpierce is offline   Reply With Quote
Old 07-19-2014, 06:58 AM   #4
Guru
 
Rogerh's Avatar
 
City: Niceville, FL
Country: USA
Vessel Name: At Last
Vessel Model: 1990 Jefferson 52 Marquessa
Join Date: Aug 2013
Posts: 665
Sounds like a fair price for that boat. We looked at quite a few of these when we were on the market and that is the price area they sold for. Certainly not too much more and dependent on engines, hours and condition it could be a little high.
Rogerh is offline   Reply With Quote
Old 07-19-2014, 07:11 AM   #5
Guru
 
City: gulf coast
Country: pinellas
Join Date: Jun 2014
Posts: 2,199
Published values, asking and sold prices are BS. Look at it more like buying a house with all the variables than a car. Get a survey.
bayview is offline   Reply With Quote
Old 07-19-2014, 10:30 AM   #6
Guru
 
City: gulf coast
Country: pinellas
Join Date: Jun 2014
Posts: 2,199
Some owners load up their boats with upgrades and equipment while others are bare bones. That certainly affects the price. Engine options make a big difference. You need to be sure you are doing apples to apples comparison .
bayview is offline   Reply With Quote
Old 07-19-2014, 11:07 AM   #7
Guru
 
City: Carefree, Arizona
Country: usa
Vessel Name: sunchaser V
Vessel Model: DeFever 48
Join Date: Apr 2008
Posts: 6,363
After Sandy, all sorts of vessels have entered the market for lower than expected prices. When buying on the upper East Coast be sure you know vessel's history.
sunchaser is offline   Reply With Quote
Old 07-19-2014, 12:17 PM   #8
Guru
 
Xsbank's Avatar
 
City: Pender Harbour, BC
Country: Canada
Vessel Name: Gwaii Haanas
Vessel Model: Vancouver Shipyards Custom Aluminum 52
Join Date: Sep 2013
Posts: 2,447
I like to think that there is only one buyer for your boat out there; you have to find him. When you do, the "value" of your boat is entirely determined on what you negotiate. As an example, a friend of mine just bought a 55 for ONE THIRD of asking. It had a smell that put off other buyers and which he solved with a gallon or two of bleach and some plumbing. He's been cruising all summer.

As an owner, I hesitate to suggest this, but your first offer should insult the owner. Most owners think their sweat equity adds layers of gold ballast to the thing they want rid of, just look at the stupid asking prices for Craigslist boating junk. Negotiate hard. The owner has done with the boat for whatever reason and would prefer mounds of cash, but remember the bottom line, he wants out!
__________________
Don't believe everything that you think.
Xsbank is offline   Reply With Quote
Old 07-22-2014, 04:18 PM   #9
Senior Member
 
City: Anacortes
Country: USA
Join Date: Nov 2012
Posts: 301
Boat value according to what? You did not say how you arrived at $300K as the "value" of these things, so immediately I'm going to pick on that until my hunch proves otherwise.

Lots of people think that services such as NADA can provide them with the boats value. Lots of people are also wrong. That's not quite just a random opinion either, its a provable fact if you have access to the number of samples a set of data is based upon. It's a fact based on a simple principles of statistics. Years ago a fellow who was with a firm getting out of the boat data business who had tried to market to buyers/sellers clued me in. He actually sent me on CD their database at the time to prove his point, which was essentially this. Boats inherently are too different, and not numerous enough. If you think about how few boats are produced of any one model, how different two "identical" boats can be value wise and the scarcity of specimens being sold, you will start getting the point. In many many cases, the calculated value is going to be based on single digits by the time you get to the right make/year of boat, and that's not even considering geography which can have a pretty big impact. If your comparing something for which a lot of specimens were produced, then maybe. For everything else, its abstracted. Just as a reference point, in some of the work I do we typically won't allow someone to view satisfaction results unless the number of responses is greater than 50 or 100 depending on the question as we have found that we can not train people to make appropriate decisions below this level of responses. If we were looking at cars getting 50 comparable would be easy, for boats its a pretty rare day to see that many like comparables of a single brand let alone a specific model. Often you have single digits. It's just math problem. Plus even if you did, they are all too different anyway.

Boats are much more like houses. They require examination of the specific vessel, then comps based on similar vessels. That's why you pay for condition and valuation surveys for both loans and insurance. Nada is useful for someone like an adjuster who is making generalizations across a very broad range of vessels. Its useless for individuals and "most" specific models. That data may still be useful if I'm an insurer, even at the wide level of confidence, so again NADA and other guides serve a purpose, just not for an individual buyer/seller.

So with that long diatribe i've copied from memory over and over for more than a decade Tell us again, exactly how did you arrive at the vessels value?
ghost is online now   Reply With Quote
Old 07-22-2014, 06:25 PM   #10
Guru
 
cappy208's Avatar
 
City: Cape Cod
Country: USA
Vessel Name: Slip Aweigh
Vessel Model: Prairie 29
Join Date: Oct 2013
Posts: 1,131
Quote:
Originally Posted by Xsbank View Post
ONE THIRD of asking.

As an owner, I hesitate to suggest this, but your first offer should insult the owner. Most owners think their sweat equity adds layers of gold ballast to the thing they want rid of, just look at the stupid asking prices for Craigslist boating junk. Negotiate hard. The owner has done with the boat for whatever reason and would prefer mounds of cash, but remember the bottom line, he wants out!

Excellent advice all!
cappy208 is offline   Reply With Quote
Old 07-22-2014, 08:57 PM   #11
Veteran Member
 
City: PEI
Country: Canada
Vessel Name: Sea Dog
Vessel Model: Jeaneau 21
Join Date: Apr 2013
Posts: 77
great advice,as potential upgrader thanks!
__________________

Seadog2013 is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off





All times are GMT -5. The time now is 03:25 AM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2006 - 2012