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Old 12-14-2019, 12:02 PM   #1
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Post What is Market Offer vs. asking price on a Mainship 350 Trawler

It's been 15 years since I bought or sold a vessel. So I don't know any longer what the market is for asking price vs. selling price. Trying to educate myself.

I have found a 1998 Mainship 350 in SC that would meet our needs. It appears in good condition, twin yanmars with lower hours, and full electronics, AC etc. No extras such as dinghy, davits etc. Basic canvas. I have not yet had any surveys, sea trial etc.

Asking price is $119,000.

NADA blue book high retail is $69,215.

Based on all your experience, what is the market for a cash offer on such a vessel. I 'm in need of a little advice.
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Old 12-14-2019, 01:34 PM   #2
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https://www.yachtworld.com/boats/199...p-350-3500101/

Here is a review of your boat by David Pascoe (now deceased), its quite favourable:

https://www.yachtsurvey.com/boatrevi...50_trawler.htm
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Old 12-14-2019, 02:22 PM   #3
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Wow, $119,000 for a 20 + year old Mainship ? Honestly I don't think you can buy it for what it is worth. I certainly would not go over the Blue Book. In fact I wouldn't go over $60,000.

There have been a number of threads here recently about asking price vs. offer. I think you should search some of them out, 50% of asking is not unheard of or even unreasonable in many cases.

Will the seller accept such an offer ? Probably not but a dose of reality sounds like it is called for here. Make the offer and wait for a counter offer or for the boat to sit for a few weeks or months.

In the mean time keep looking to get a better idea of the market. You might consider a survey of the Mainship, it could be a real bargaining chip. Some surveyors have access to comparable recent sales.

Mainship is a nice boat but it is not "Top of the Line". IMHO

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Old 12-14-2019, 02:53 PM   #4
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Hammer, welcome! I think soldboat.com is a better source for actual sales prices than NADA. A buyers broker could easily access this data (through Yachtworld) to give you some idea of asking vs sold prices of similar boats in your area.

We used this information when making an offer on ours and the surveyors will typically use this on a conditional survey to establish base value.

That said, condition and the market will have as much or more impact. The same boat in Bristol condition and well equipped will command a much higher value than one in Poor or Fair with basic electronics and limited equipment.

Market demand and supply is also impactful. As an example I've been following Kadey Krogen and Nordhavn values for about five years. KK42's have actually gone up in value over that time. Five years ago you could buy a well maintained and well equipped 42 for about $175K in the PNW, now that same vessel will sell for around $210. Location also impacts values. PNW vs FL prices on those same KK42s show about a $25K premium in the PNW.

Keep in mind, both soldboats.com and NADA are lagging indicators of value.
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Old 12-14-2019, 03:05 PM   #5
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Hammer welcome as well.

Current owner may be a member of this forum...use caution.
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Old 12-14-2019, 03:25 PM   #6
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That seems right in line with two others that are for sale on Yachtworld. In Longbeach, CA there’s a 1996 for $129,900 and a 1998 for sale in Seabrook TX asking $114,900.

https://www.yachtworld.com/boats-for...l-350-trawler/

Good luck on your search.
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Old 12-14-2019, 04:07 PM   #7
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Quote:
Originally Posted by Hammer View Post
It's been 15 years since I bought or sold a vessel. So I don't know any longer what the market is for asking price vs. selling price. Trying to educate myself.

I have found a 1998 Mainship 350 in SC that would meet our needs. It appears in good condition, twin yanmars with lower hours, and full electronics, AC etc. No extras such as dinghy, davits etc. Basic canvas. I have not yet had any surveys, sea trial etc.

Asking price is $119,000.

NADA blue book high retail is $69,215.

Based on all your experience, what is the market for a cash offer on such a vessel. I 'm in need of a little advice.
Hammer, NADA and BUC are really not that great of an indicators of a boats value. As a broker I just took a look at Soldboats and at $119,000, that boat is at the very top of the mark. I sent you a PM with my number, call me and I can send you the Soldboat report if you like. Having said that, Soldboats is just one factor in negotiating an offer. Is this boat on Yachtworld?

In another thread, I just purchased a 36 Marine Trader at a pretty good price using Soldboats and other factors. Sometimes, it's just in how you word the offer....
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Old 12-14-2019, 04:10 PM   #8
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Quote:
Originally Posted by Pete Meisinger View Post
Wow, $119,000 for a 20 + year old Mainship ? Honestly I don't think you can buy it for what it is worth. I certainly would not go over the Blue Book. In fact I wouldn't go over $60,000.

There have been a number of threads here recently about asking price vs. offer. I think you should search some of them out, 50% of asking is not unheard of or even unreasonable in many cases.

Will the seller accept such an offer ? Probably not but a dose of reality sounds like it is called for here. Make the offer and wait for a counter offer or for the boat to sit for a few weeks or months.

In the mean time keep looking to get a better idea of the market. You might consider a survey of the Mainship, it could be a real bargaining chip. Some surveyors have access to comparable recent sales.

Mainship is a nice boat but it is not "Top of the Line". IMHO

pete
Pete, The only way he's gonna get that boat surveyed is with an accepted offer. Making an offer based on negotiating down from a survey is not always the best approach...
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Old 12-14-2019, 04:42 PM   #9
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Welcome aboard. I agree on Soldboats as a price benchmark. When I am buying a boat I generally donít knock the boat as in it isnít worth that much. It tends to offend the seller but I rather put it as I canít afford that much and put the lower price on me and not on their pride and joy. That way it removes some of the emotions out of the equation.
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Old 12-14-2019, 04:46 PM   #10
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Originally Posted by rsn48 View Post
https://www.yachtworld.com/boats/199...p-350-3500101/

Here is a review of your boat by David Pascoe (now deceased), its quite favourable:

https://www.yachtsurvey.com/boatrevi...50_trawler.htm
Yes, I had read that review and found it mostly accurate. Thanks for the tip.
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Old 12-14-2019, 04:52 PM   #11
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Hello Pete,

Thank you for your opinion. At $114k the Mainship is beyond my budget. At the NADA price it would fit my budget ... I will have to do more research.
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Old 12-14-2019, 04:55 PM   #12
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Hello Sid Clark. Thank you for the information about the price being at the very top of historic soldboats.com. I will reach out to you for the rest of the data ...
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