How long was your boat for sale?

BandB said:

I've talked about selection of brokers but think it would be great if you could share some advice to others on selecting a good broker, since you're obviously good at it or very lucky, and others seem to be either very bad at it or very unlucky.

Click to expand...

Honestly, I've likely been lucky....But:

When I bought the Bristol I dealt with a well regarded broker in Annapolis Md. Who was experienced in the types of boats I was looking for. and Gawd knows, there were a ton of 35' sailboats for sale in the Annapolis market at the time ('94). I was honest and open and gave her some parameters. Quality brand, price, layout etc. She was realistic and honest and steered me to boats that met my needs. I picked her mostly on the reputation of the brokerage she worked for.

The broker I had sold that boat through was a specialist...dealing primarily in Bristols, again in Annapolis. We knew each other through his specialty and my participation in the Brand stuff in the area. I was Commodore of the Bristol club at the time, and, honestly, had a stunning and desirable boat. He came to me because of my boat. That all made for a perfect match. His specialty + my boat = easy sale.

When I bought the Cape Dory, I really preferred to stay local. In the Oriental NC area there aren't a lot of brokers. This guy had a Siska which got me in his door. After I rejected that boat, he was on a mission to find what I wanted in a relatively small market here. He had the contacts, the perseverance, and knew I wasn't a tire kicker...From the time I decided to get back into boating til we inked the deal was about a month...

I think in all cases, establishing a relationship with a viable, honest broker who knows his or her market is key. No special tricks...Just honest communications between me (who wanted to buy) and a broker (who wanted to sell). Throw the right boat in that mix and it all comes together with no drama..

I'd expect, if you come across as a tire kicker, you won't get the attention a serious buyer will...Make your intentions known up front . In the end, a fair broker, a boat at a fair price, and a realistic buyer will get the deal done..

It probably didn't hurt that I was in the boat sales business when I was in my 20's so kinda knew my way around the process...

BandB said:

I've talked about selection of brokers but think it would be great if you could share some advice to others on selecting a good broker, since you're obviously good at it or very lucky, and others seem to be either very bad at it or very unlucky.

Click to expand...

Quite honestly, in my experience it hasn't been the broker but rather what Danderer eluded to in post#16. Don't get me wrong, brokers are very important to get the word out but if you are trying to sell "a pig with lipstick", you're probably going to have a long wait! The money you save by having the boat in "tip top" shape
is returned by not having to pay all the associated expenses for many months or years.

We sold our previous boat in May 2015 in 48 hours. For close to asking price. It was clean, in good mechanical shape and priced at the local market value.

We made offers on 4 boats to buy, two only responded back through their broker that they would not going to lower their price at all. (one of these lowered their advertised (Yachtworld) price to lower than our offer a 2 months later). One failed the survey with an engine with water in it. And the one we bought had been on the market for 2 years and they lowered the advertised price by almost 70K before we looked at it. And even then we offered much lower at what we considered market value.

We are happy with the boat, but realistic to where market value is and will be against what we are spending on it when we go to sell the boat down the road.

O C Diver said:

Think the message is that desirable boats sell fairly quickly when competitively priced. Over priced boats sit as the market isn't that strong.
Ted

Click to expand...

danderer said:

We've sold our boats within 2 months to the first or second person who has looked at them. They've been in good condition and well-equipped, and we don't try to squeeze every penny out of the deal.
.

Click to expand...

I think Ted & David are right on - once again

Last boat we sold was a 27 yr old gasser under 30 ft and under $20k - hrs were fairly high and scared a few folks off - 3rd party that looked at it, scrutinized the maintenance records and saw the condition jumped at it.
I lowered the price $500 as a token of good faith but otherwise held firm on what I felt was a fair price. (I did offer to take an offer and get back to them if it didn't sell in a short time - they committed immediately)

The current MS we own was on the market for an extended time but a couple of things aligned to make the deal...
1) I had a buying broker (my brother but not known to the seller) that did an excellent job of negotiating an acceptable price & terms
2) I knew what we wanted and were looking for one in good condition @ reasonable price. Freshwater boat caught my attention and was worth transportation $ (had frequent flier miles, place to stay & vehicle during inspection / sea trial)
3) Boat style was not popular / appropriate for PO location - 34 MS "Trawler" on small landlocked lake - low activity aided seller "motivation"

Two weeks, we got full asking price. Got what we had originally paid for it but put many boat bucks into it that weren't recouped but that was to be expected.

About a year to sell our 1965 Islander 32

I listed my boat back in February, and just accepted an offer of 95% of the asking price yesterday. So long as the sea trial goes well in the next week or so, the deal will be done, making it 2.5 months for me. The only money I spent to sell was buying a six month ad on Boattrader, which was 160 bucks if I remember right. I'll probably end up throwing in a new battery too. It was getting pretty weak at the end of last season. Hopefully that'll be all. Fingers crossed!

I bought my boat back in April last year, it had been on the market for over a year, and now it still is on Yacht World even though it is not for sale!
1999 DeFever Cockpit MY Power Boat For Sale - www.yachtworld.com
Not sure how that works but it must have an effect on the overall pricing structure!
Gregg

Wataworld said:

I bought my boat back in April last year, it had been on the market for over a year, and now it still is on Yacht World even though it is not for sale!
1999 DeFever Cockpit MY Power Boat For Sale - www.yachtworld.com
Not sure how that works but it must have an effect on the overall pricing structure!
Gregg

Click to expand...

Either oversight or old, ugly game. Leave it showing so you will get the call and can talk the person into something that is for sale.

BandB said:

Either oversight or old, ugly game. Leave it showing so you will get the call and can talk the person into something that is for sale.

Click to expand...

It's the latter. Bait and switch seems the industry standard for the low protein dirt bags. High protein proven performers like Daddyo (Mark B) don't have time to play games like that as they're too busy actually selling boats.

CPseudonym said:

It's the latter. Bait and switch seems the industry standard for the low protein dirt bags. High protein proven performers like Daddyo (Mark B) don't have time to play games like that as they're too busy actually selling boats.

Click to expand...

Top brokers, like top sales people in any field, sell themselves to you first, then sell the boat/product. First steps of the process are them learning about you, asking questions so they understand your needs, and them educating you on themselves. They don't do that by bragging about all they've sold. They do it by telling you what they can do for you, what you can expect from them, what they'll need from you, how they go about their business, and showing you that they're there to serve your needs, not the other way around. One of the first rules in selling is "Know your customer." Well, in dealing with a broker or selecting one, it needs to also be "know your broker."

I sold my sailboat in about 3 months. Originally, I listed it for what I thought it was worth, being fully cruise-ready, but had no action. I dropped it from $95k to $79K and immediately the phone started ringing. I ended up selling it to someone who had looked at it when listed for the higher price.

I did not want to sit and wait while I could be getting another boat and actively cruising it. You will never recoup what you put into your boat, but the memories are priceless.

Cheers, Bill