How to price sale

[SimonBryan]

Hi all
Sadly we are going to have to sell our 1986 32' Island Gypsy Ford Lehman engine, generator, (located Sydney, Australia) - being now retired we are struggling to keep up with costs. Hull is good, engine, gear box etc all good and well serviced.
BUT needs painting and varnishing and now we find we need to recore the side decks to maintain insurance, we are getting a quote on that but suspect it is well out of our budget. If in good shape I would ask about $30000 thinking to deduct the cost of the decks from that and make an allowance for the painting.
I was going to repaint and varnish myself but feel it may be better to leave for new owner as I am not a professional painter.

Any thoughts on pricing?

 

[SteveK]

Sorry to hear of your troubles and wish you a speedy sale.
I do not know the market down under so will leave it to the locals to help

I would like to know why insurer is making you re core the decks, what that means eludes me. Care to explain?

 

[BruceK]

Don`t undersell it,the IG32 occupied a sweet spot in terms of accommodation/living space balance. But deck replacement, and painting, are expensive.
If I remember, you are on a swing mooring near RMYC. Sounds like you prefer not approaching the broker at RMYC. The other broker alternative is Andrew Storey at Cottage Point, principally a shipwright but enjoys some brokering too and is an ex Halvorsen IG expert. You`ll probably get a lot of "blue sky" on price to get the listing,reality yet to come, so maybe that`s a reason.
My uneducated guess, as a former IG36 Europa owner, sold in 2020 through Andrew Storey, is in good order it`s around 80-90K. Deduct deck repair and painting, I suspect you are a little low. Someone might figure on painting it themselves. The deck recore, and redo presumably with a painted f/g finish won`t be cheap. But check the core, my 1981 boat had foam coring, not rotted teak or ply, which saved a lot when I had deck work done. You may get a look at the core at the lazarette.
Gut feel is it`s over 50K as is, but obviously,it`s a guess. I`d probably start offering it at 80K. Try to keep in mind the pluses rather than minuses. If the hull is osmosis free that`s a big plus.

 

[Comodave]

Remember you can always lower the price but you can’t raise it…

 

[more]

Hi all
Sadly we are going to have to sell our 1986 32' Island Gypsy Ford Lehman engine, generator, (located Sydney, Australia) - being now retired we are struggling to keep up with costs. Hull is good, engine, gear box etc all good and well serviced.
BUT needs painting and varnishing and now we find we need to recore the side decks to maintain insurance, we are getting a quote on that but suspect it is well out of our budget. If in good shape I would ask about $30000 thinking to deduct the cost of the decks from that and make an allowance for the painting.
I was going to repaint and varnish myself but feel it may be better to leave for new owner as I am not a professional painter.

Any thoughts on pricing?

https://www.yachtworld.co.uk/yacht/1983-island-gypsy-trawler-9266415/

https://www.yachtworld.co.uk/yacht/2001-island-gypsy-euro-sedan-trawler-9463088/

start with 35 000$

 

[Bacchus]

Just thinking "out loud" but wonder if you might do well to hire a surveyor with some experience with your boat type with focus on establishing condition and value. I would think including in the ad " recent survey available" might help attract interest and pricing it at the stated survey value ( including necessary repairs) at least establishes some basis and credibility for the asking $. Where you are willing to negotiate from there is up to you.

 

[SIBERNUT]

Someone once told me " list it & lower the price till the phone starts ringing"

 

[BruceK]

Someone once told me " list it & lower the price till the phone starts ringing"

Or: No calls,price too high; calls/inspections but no offers, still too high; calls/inspections and offers, price is in range. In reality, just one call may suffice.
There can be "heart buyers",with a special desire or wish or need for the object. If one doesn`t emerge, the "heart" price needs to be reduced to something more realistic.
Someone who "has to sell" may take a "too realistic" view of pricing. Start with a "heart price" to avoid underselling. It will be the only IG32 for sale in all Australia.

 

[mvweebles]

I would like to know why insurer is making you re core the decks, what that means eludes me. Care to explain?

I'd have the same question on insurance connection regarding damaged side deck core.

You'll have to make a decision on how quickly you want to sell. I'll go against the grain on this thread and suggest a 'fire sale' price. Sounds like the boat doesn't show well and has an expensive repair. A buyer who is open to a project (not many are) will do so on price. Might as well make a connection sooner rather than later and not waste time and money on holding costs

What is a "fire sale" price? I don't know in your market. If you think the boat is worth $30k in decent condition, then something in the range of 20%-25% off and don't be offended offers come in much lower ($20k). The buyer's initial mindset is always to take the asking price and subtract repairs at full price. Many work to a reasonable offer, but some don't and seemingly expect the seller to pay the buyer to take the boat.

Good luck with the sale and best wishes to whatever is motivating it.

Peter

 

[slowgoesit]

When determining a sale price, one thing you need to take a long hard look at is the cost of continued ownership. Perhaps not as important if you are still using the boat regularly while it it is going to be up for sale, but if the boat is not being used, you need to add up, at a minimum:

• Moorage
• Insurance
• boat sitter, (if you are remote)
• periodic cost to keep it clean and presentable, personal, or hired out
• haul-out if necessary

You get the idea. So in hypothetical boat, which has a value of, lets say $30,000, just using a ballpark of $1,000/month cost of continued ownership (I may be way off here, I don't know your unique situation), are you willing to ask sit on the boat for say 1 year waiting to get top dollar ($30k), when you cost of ownership in this example will be $12k in that same year? Or do you want to advertise for say $22k, well below going price, and drop to $20k for a sale, which if it sells in the first month will end up netting you $2k more than keeping it for a year?
Lots of things to think about.
Best of luck with your sale!

 

[Andy G]

"If in good shape I would ask about $30000".

Really? If in good shape she would be worth a lot more than $30K.

As Bruce said the IG 32' is a very good design for a 32' boat. There are not many on the market. The rarity value alone makes it attractive.

I know both the brokers mentioned in this thread pretty well. Andrew, at Cottage Point has just given me back our boat after 4 months and Andrew at RMYC sold us our boat. You have nothing to lose having a chat with either one. Though Andrew at Cottage Point will approach the conversation from a shipwrights point of view, which can be expensive.

It seems that your boat may have run into difficulty with the 5 yearly out of water survey that insurance companies now insist on, or are you just assuming it will come up at the next renewl?

As for painting and varnish. IMHO forget painting, get the yard to do a good rub back and polish and as you have now retired the varnishing should not take you too long. You don't need 8-10 coats three will pass muster.

You said the engine and running gear are in good condition so that's a plus.

If you are in the Pittwater area have a chat to Adam the shipwright at RMYC, he may have some ideas about the possibility of strengthening the spongy deck without a full replacement.

If you can get the above sorted I think you could get circa $80K. Probably talk to Andrew Moore at the club first, if the boat is moored nearby.

Good luck and don't undersell the boat. The IG 32 is a great boat.

Cheers

Andy

 

[more]

"If in good shape I would ask about $30000".

Really? If in good shape she would be worth a lot more than $30K.

As Bruce said the IG 32' is a very good design for a 32' boat. There are not many on the market. The rarity value alone makes it attractive.



Cheers

Andy

what you think what is market price for neptunus 56 from 2004 year.perfect condition,except need new antifouling and bottom cleaning.

 

[ktdtx]

A good Broker put it this way to me when I asked him how much should we ask:

He said----How fast do you want to sell it?
If you want to sell it "sometime...then High price
If you want to sell it pretty soon then Medium price
If you want to sell it NOW then low price.

Sorry that you have to sell but consider the monthly upkeep--slip, Insurance, maintenance, etc when pricing. Usually when I decide to sell something I want it GONE.

Just another opinion.

 

[more]

A good Broker put it this way to me when I asked him how much should we ask:

He said----How fast do you want to sell it?
If you want to sell it "sometime...then High price
If you want to sell it pretty soon then Medium price
If you want to sell it NOW then low price.

Sorry that you have to sell but consider the monthly upkeep--slip, Insurance, maintenance, etc when pricing. Usually when I decide to sell something I want it GONE.

Just another opinion.

boat i buy in september is on market from 2022. starting price be 360 000$ because his father buy this boat for 1,2 milion$ and USA market say 400000-500000$ monthly expense 2200€ marina ,insurance,maintain guy .lady have salary 2400€ netto. price drop to 200000€ I come offer 110 000€ with broker fee,marina free to 01.10 2024 I pay 1 minute after contract made in nottary wire transfer. i come with my notebook,all info before in wire transfer screwed I push button ok money in his account after 80 minute he give me rest document. market price for neptunus 56 2004-2008 perfect condition,48 but heating/cooling,generator 21 kw onan,watermake, cat engine 2x800 hp in EU 110000€

sell my sailboat bavaria 38 market price in EU from 60-70000 + tax I after 10 tyer kicker accept 54000€ I tyer kicker be on boat 3 time last time on heavy,really heavy rain on and he say don't have money can I wait couple month. tomorrow I call this guy in Austria and say accept his offer 54000€ I am lucky. i pay this boat before 12 year 30100€

 

[BruceK]

So glad that for the OP`s benefit, Andy G has contributed.
When pricing real estate you look for comparable sales and set your asking price accordingly. A comparable can be better or worse, you adjust for that. Unfortunately no recent IG32 sales to go on. Closest are 2 36s for sale, you`ll find them on www.boatsonline.com.au by a search for Island Gypsy boats. One is older and timber,the other is a f/g Europa, at Berowra. Both have been for sale circa 175K for a long while, suggesting overpricing.

 

[BruceK]

At last, the elusive "comparable":

Grand Banks 32: Power Boats | Boats Online for Sale | Fibreglass/grp | Queensland (Qld) - Wide Bay/Hervey Bay Region Hervey bay QLD

Welcome to the 1981 Grand Banks 32 Fly Bridge Cruiser, a true classic cruiser that exudes elegance, reliability, and a sense of

www.boatsonline.com.au

IGs were modeled directly on GBs. Halvorsen were previously GB agents. The owners (or detailer or both) seem fanatical, this appears way above average, down to the fwd teak decking renewed and LI house batteries. Engine recon, so it`s run some hours. $134K is of course the "ask", not a "sold" figure.
Is the OP`s IG worth half the ask? Something to ponder. Comparable valuing can be a guide.

 

[Andy G]

I came across an IG32 1989 that sold for $160K at the RPAC in Pittwater.It also looked in good condition.

Then I went back and read the OP's post.

He indicated that he would ask $30K if the boat was in good condition. To bring it up to that standard he thinks the boat needs a paint job and a new/ repaired deck

From my experience that would almost put the boat in negative price territory. Our neighbour's GB 36 was hand painted at a cost of about $33K & our maindeck replacement on Sarawana, where we did about 80% of the work ourselves cost us about $14K.

The OP seems to have disapeared from the thread which is a pity as it would be instructive to know how he is moving along with the sale.

I have to agree with Bruce that GB32' looks the goods, love the engine room, great attention to detail. The port teak deck looks to have had some work done, some of the caulking renewed, other areas look a bit worse for wear.

I wonder why the engine was rebuilt, or was it just recoditioned. Having had two Lehman's replaced over the last twenty years I can vouch it would be important fo the potential buyer to find out from the owner(not the broker)what the story is.

One thing I noticed about the GB 32 is that it has no port or starboard doors, a big negative in my opinion, especially if you intended to use the boat single handed.

 

[more]

Our neighbour's GB 36 was hand painted at a cost of about $33K & our maindeck replacement on Sarawana, where we did about 80% of the work ourselves cost us about $14K.

please explain little more. i thinking paint my boat. pro i think ask 200-300€ maybe more per m2

 

[Andy G]

please explain little more. i thinking paint my boat. pro i think ask 200-300€ maybe more per m2

I think I will move to Croatia.

Our on water charge out rates are about $130per hr plus 10%GST(Tax)
Two men on the job works out at
about $2.2K per day.

The GB I was talking about had 5 coats, brushed on.

 

[more]

I think I will move to Croatia.

Our on water charge out rates are about $130per hr plus 10%GST(Tax)
Two men on the job works out at
about $2.2K per day.

The GB I was talking about had 5 coats, brushed on.

dont move,we are in short for all workers. except for lawyer,ing,artist,singer,tiktoker,youtube.
this jumbo pizza around my house is 20€ this is huge family 3-4 person.20 km from my house. this in middle is normal size. in Italy possible find cheaper

 

[Andy G]

I'm still thinking of moving.

Pizza's at about half what we pay and a latte at AU$2.60! My coffee this morning at my local cafe after my morning swim was $5.20.

I am off walking in Slovinia next year and hope the prices are similar to that in Croatia.

I think we have strayed off topic.

 

[SteveK]

I'm still thinking of moving.

Pizza's at about half what we pay and a latte at AU$2.60! My coffee this morning at my local cafe after my morning swim was $5.20.

I am off walking in Slovinia next year and hope the prices are similar to that in Croatia.

I think we have strayed off topic.

Ya you think. WE do not discuss exercise here.

 

[Southern Boater]

I think I will move to Croatia.

Our on water charge out rates are about $130per hr plus 10%GST(Tax)
Two men on the job works out at
about $2.2K per day.

The GB I was talking about had 5 coats, brushed on.

Boat repainting costs have risen dramatically, a big rise in materials and labour, as well as difficulties in finding yards to do the job.