Money Matters

This would be a temporary problem as it is so easy for boaters to "Vote with their Feet".

Income for the grubs would drop , probably 90% and it would soon end.

You could probably purchase a bankrupt marina at the cost of a couple of years slip fees.

since we're talking percentages here, is anyone willing to share how the sale price compared to the survey valuation?

My recent purchase ended up with sale price ~90% of survey valuation.

Dave

Egregious wrote:

since we're talking percentages here, is anyone willing to share how the sale price compared to the survey valuation?

Click to expand...

My recent purchase ended up with sale price ~90% of survey valuation.

*

Dave

Egregious wrote:

since we're talking percentages here, is anyone willing to share how the sale price compared to the survey valuation?

Click to expand...

Our survey valuation exceeded the purchase (and asking) price of the boat by about $15,000.

*

Our survey price exceeded the selling price, which was also the asking price, by about 10K

70% of Survey** 30% of original asking.** Nobody wanted to buy it except my wife and the owner had just gone through a nasty devours.* *So out of spite to her Ex, she just wanted to get out from under the debt and month expense.* Revenge is so sweet some times.* (-:
*
Fun story
*
My present wife when she decide she had enough.* She took her Jeep and smashed it into her husband truck all sides. **She could not smash the front so she took a tire iron and smashed the hood and wind shield.* Needless to say when her sister gave her a gun for her birthday I was a little nervous, and even to day I say Yes, Honey, What ever you say! Nothing is worse than a woman scorned. *

The results of this not so little unscientific survey:*
Looks like the average price paid was about 75% of asking price. Some folks paid up to 100% and one as low as 50%.* The year of purchase certainly seems to have been a major factor (state of the economy).* Thanks to eveyone for*your valuable input. I will sure be able to use this info come purchase time.**Knowledge is power. KJ*

We bought "Adagio" our Island Gypsy 32 during the Summer of 2008.* We paid a full 50 % below the asking price!* She needed some TLC and the owner wanted her gone before another winter storage season.** So we struck a deal, she surveyed fine and we got a nice boat.* She had only 1500 hours on her 120 Lehman. We launched her in New Bedford Mass. and ran her down to Toms River NJ without any issues. She only used half the fuel she was sold with.* Her main problem was rotted window frames.* I spent a full six weeks replacing them- she looks great and has no leaks.** In 2010 I replaced the fuel tanks and lines and she is ready to cruise.* If I were*not retired and had to pay for labor on repairs like these it would have been less of a deal.

John and Miri

IG32* #25* 1983**** "Adagio"*

Toms River** NJ

-- Edited by JohnP on Friday 10th of December 2010 10:02:13 PM

"If I were not retired and had to pay for labor on repairs like these it would have been less of a deal."


Truer words were never spoken!!


And the new owner must be able to perform the work.

We bought our current boat in 2008 for 13% less than asking but part of that was a reduction in contract price due to survey identified problems that we then had to fix on our own dime. Survey valuation was about the same as asking.

We sold our old boat in 2009 for 100% of what we were asking. We actually sold her twice at the the same asking price (first buyer couldn't complete the transaction) and ended up with 46% more than what we had paid for her 22 years before (due mostly to large forfeited deposit from first buyer). Survey valuation was about 20% more than asking.


-- Edited by dwhatty on Saturday 11th of December 2010 08:04:43 PM

-- Edited by dwhatty on Saturday 11th of December 2010 08:23:55 PM