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02-11-2016, 01:29 PM
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#1
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Veteran Member
City: Peculiar
Join Date: Feb 2016
Posts: 65
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Boat Economics
Is a boat that's been on the market since last August likely overpriced for this economy?
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02-11-2016, 01:49 PM
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#2
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Guru
City: Annapolis
Vessel Name: Ranger
Vessel Model: 58' Sedan Bridge
Join Date: Aug 2013
Posts: 7,088
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Difficult to generalize. Could be more about that particular boat, the features it offers, how wide a market those features appeal to, etc.
Or it could be overpriced.
Depends.
-Chris
__________________
Chesapeake Bay, USA
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02-11-2016, 01:57 PM
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#3
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Veteran Member
City: Toledo
Join Date: Dec 2015
Posts: 86
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Too many variables, but worth considering is that if its been on the market for a while it is likely dead weight financially for the seller and they may be more motivated to sell - especially if they have payments to make on the new boat already.
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02-11-2016, 02:03 PM
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#4
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Guru
City: Inside Passage Summer/Columbia River Winter
Vessel Name: Alaskan Sea-Duction
Vessel Model: 1988 M/Y Camargue YachtFisher
Join Date: Jul 2012
Posts: 8,050
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Prices are going up and used inventory is dropping.
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02-11-2016, 02:23 PM
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#5
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Technical Guru
City: Wilmington, NC
Vessel Name: Louisa
Vessel Model: Custom Built 38
Join Date: Jan 2014
Posts: 6,194
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Quote:
Originally Posted by scurvy-yard-dog
Is a boat that's been on the market since last August likely overpriced for this economy?
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Simple answer: Yes. Otherwise it would have sold.
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02-11-2016, 03:09 PM
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#6
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Guru
City: Ft Pierce
Vessel Name: Sold
Vessel Model: Was an Albin/PSN 40
Join Date: Oct 2011
Posts: 28,151
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Or it might be a boat one cant give away.
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02-11-2016, 03:09 PM
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#7
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Guru
City: Full Time Cruising East Coast
Vessel Name: Meridian
Vessel Model: Krogen-42
Join Date: Aug 2011
Posts: 1,014
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Where is it located? Frozen north? My understanding is the market drops off in the fall and picks up in the spring.
__________________
-------------------------
Terry
Meridian
KK-42097
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02-11-2016, 03:11 PM
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#8
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Guru
City: Satsuma FL
Vessel Name: No Mo Trawla
Vessel Model: Hurricane SS188
Join Date: Jul 2014
Posts: 2,300
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Quote:
Originally Posted by Ski in NC
Simple answer: Yes. Otherwise it would have sold.
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Maybe I am deceiving myself but we put boat on the market in August and it has been in winter storage since October in the Great Lakes. I don't consider it over priced. If the boat were in FL, my opinion might change.
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02-11-2016, 04:45 PM
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#9
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Guru
Join Date: Apr 2009
Posts: 1,920
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It used to be 1-2 yrs was not that far off for a boat to sell. Have times changed?
How did you determine an asking price?
If someone is interested in your boat could they do a sea trial? If not then perhaps your boat has been on the market for only 2 months.
__________________
Tim
Tampa Bay
Carver 355 ACMY Twin Cummins Diesels Sold
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02-11-2016, 09:21 PM
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#10
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Veteran Member
City: Peculiar
Join Date: Feb 2016
Posts: 65
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The boat is in Delray Beach, FL. and is for sale by owner. It was initially listed last August. I'll have to learn boat values. I saw 2 boats earlier today online for sale by owner that were the same model, model year, length, engine, etc. and the price difference in the 2 was about $60k. Apparently there are differences in the 2 boats but it's not something that's easily discernible for a beginner. Part of it could be cosmetic, part could be maintenance and part could be ego. That's the part I need to figure out.
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02-11-2016, 09:53 PM
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#11
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Guru
City: West Coast
Join Date: Apr 2014
Posts: 1,790
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Could be a difficult seller (in general, a great source of great deals), or under-exposed to the market, but otherwise it must be overpriced and probably significantly so.
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02-11-2016, 10:49 PM
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#12
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Guru
City: North Vancouver
Vessel Name: Phoenix Hunter
Vessel Model: Kadey Krogen 42 (1985)
Join Date: Apr 2011
Posts: 2,877
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"Boat" and "Economics"
...non sequitor...
Jim
Sent from my iPad using Trawler Forum
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02-12-2016, 05:19 AM
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#13
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Guru
City: Sydney
Join Date: Jul 2015
Posts: 1,646
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I have seen boats for sale that are way over market price one broker said some husbands do this to keep the wife happy that he selling the boat but truth known he has no intention to
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02-12-2016, 06:01 AM
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#14
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Guru
City: Melbourne, FL
Join Date: Dec 2014
Posts: 1,731
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Quote:
Originally Posted by gaston
I have seen boats for sale that are way over market price one broker said some husbands do this to keep the wife happy that he selling the boat but truth known he has no intention to
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I think those are the ones where they open the storage areas and take photos of EVERYTHING and put them on yacht world. Anyone in their right mind would give up early and not even contemplate the boat being sold.
If I were a broker, I would:
dejunk / declutter the boat.
clean the boat well
remove any personal effects (at least temporarily)
get a pro photographer to take good photos of the boat
post selected photos of the boat
Add info on each photo so it doesn't say "Photo 15" but describes the photo.
Make sure all the parts in the description are clearly worded and correct.
Typo check the whole thing before I click submit.
then I would read the posting again once it is on Yachtworld and make any corrections needed there.
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02-12-2016, 06:14 AM
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#15
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Guru
Join Date: Oct 2007
Posts: 22,553
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Since year one,, "Paint Sells the Boat"has been the mantra.
Even truer today with folks with Zero boating background as buyers.
They want to come aboard with their toothbrush and a photo for the wall, and put put away on a new adventure.
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02-12-2016, 08:23 AM
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#16
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Guru
City: Punta Gorda, fl
Vessel Name: Escapade
Vessel Model: Nordic Tug 37 2002
Join Date: Jan 2015
Posts: 1,231
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Our boat was listed with a broker for a year. No one came to take a look. Two friends had sold their boats earlier. Dropped my broker and listed with theirs. Boat sold in less than three months with the second party that looked at it.
The right broker makes all the difference.
And no, I am not a broker.
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02-12-2016, 08:54 AM
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#17
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Veteran Member
City: Peculiar
Join Date: Feb 2016
Posts: 65
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The boat is listed here. Endeavour boats for sale - YachtWorld
It's the 9th one down in the far left hand column.
Endeavour 37 A-PLAN (1)
I'm not ready to buy it because I have a house to sell but I'm trying to learn how to tell if a boat is being offered at a fair price. Should I sell my house quickly where I could make an offer, what kind of offer would a boat like this bring?
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02-12-2016, 08:59 AM
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#18
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Guru
Join Date: Oct 2007
Posts: 22,553
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"Is a boat that's been on the market since last August likely overpriced for this economy?"
DEFLATION has hit the world after two decades in Japan.
That means every day things get cheaper , money becomes more valuable.
So "overpriced " is only if there has not been a price reduction today.
For the decades "I like your house , I will come back next year and buy it cheaper ,"has been the Japan motto.
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02-12-2016, 09:18 AM
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#19
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Guru
City: Carefree, Arizona
Vessel Name: sunchaser V
Vessel Model: DeFever 48 (sold)
Join Date: Apr 2008
Posts: 10,186
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Dog
A 37 year old sailboat is not an easy sell. It looks like lots of them are for sale, further adding to the conundrum. Cost to rerig, new sails, rudder shaft rebuild, keel bolts, engine replacement etc could all enter into the go forward costs.
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02-12-2016, 09:36 AM
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#20
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Guru
City: Satsuma FL
Vessel Name: No Mo Trawla
Vessel Model: Hurricane SS188
Join Date: Jul 2014
Posts: 2,300
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Quote:
Originally Posted by scurvy-yard-dog
Should I sell my house quickly where I could make an offer, what kind of offer would a boat like this bring?
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You can make any offer you want but I would expect a selling price of 90% of the asking price then a further reduction might be negotiated for any issues found during the survey. A lot will depend on how many other buyers are interested and how badly the seller wants to move boat. I am aware of a seller who sold an absolutely pristine 1984 Southern Cross 35' for about $50K. I don't think Endeavour has quite the desirability of the Southern Cross which is a true blue water boat.
If you plan to keep it in FL, I would hope you are keeping in mind insurance rates are very high in FL due to tropical storms even though we have had any in 11 years.
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