I get a kick out of used-boat prices.
Having bought and sold a enough boats during my decades, as well as nearly always kept my eyes and ears wide open for available boats, it seems to me [that too often]:
1. The owner can be unrealistic in price asked.
2. Buyer can be unrealistic in payment offered.
Result is too often a boat that sits not correctly unattended for some duration. Until owner drops price to reasonable level... which could have been accomplished in the first place! LOL
:lol:
Art, you are absolutely right!
Boats seem to bring out emotions more intense than I've seen with other 'things' like houses or cars (though real estate might be a close second). So many people (sometimes myself included) take it personally, what their boat (or house) is 'worth.' Somehow it's taken as a personal affront if someone else doesn't also see things our way as to what our boat is 'worth,' as if it's a judgement on our personal value.
But it's not. A boat is a thing, like any other thing. It's worth what someone else is willing to pay for it. But so often I hear sellers talking about waiting for the 'right buyer' who will value it as highly as they do (which usually means, someone with more money than common sense).
There's a fixed carrying cost to having a boat, even if an owner scrimps on maintenance. Dockage, storage, even minimal care, all have a cost, and must be paid while a boat sits for sale. Getting too caught up in the selling 'price' and losing sight of other things usually doesn't make financial sense. Spending $50k to hold on to a boat for a couple of years to get $25k more (or more often, less) on the selling price, you can't make that up in volume.
Several years ago we bid on a house. The seller was very emotional, was deeply insulted and vehemently rejected our offer. We followed the house, and know between mortgage, insurance, and doing repairs he spent at least $250k over two years - and ultimately sold the house for exactly what we had offered two years before. He would have been $250k ahead (as well as 2 years fewer headaches) if he had simply accepted our offer.
I've seen the same happen with boats, many times. Many years ago I was interested in a boat, listed at $399k. I thought it was high and offered $325k. The broker was indignant and deeply offended, retorted that $350k wouldn't buy the boat but maybe $375 'might' get it. I don't even know if my offer was presented. I passed. I watched that boat stay on the market for
six (6) years. The price kept getting lowered every year. It was last listed for $249k, and finally sold for $225k. Yes, the owners had 6 years of use of it. But from a purely financial perspective, spending 6 years of dockage, maintenance, storage, insurance, etc. and then selling it for $100k less than I offered didn't put them ahead.
