How much under the asking price do you offer?

[Jen_P]

Me again!

A sensible boaty person yesterday told me that boats are currently selling for 20 - 25% of the asking price and I should bear that in mind if I make an offer!

Seems a lot under! Is he right?

[Machpoint005]

He might mean 20% to 25% OFF the asking price, but even that seems a bit hopeful.

(Now tell me spelling doesn't matter...)

[alan_fincher]

It depends on the market you are in, I think, and there is no general "right answer".

 

I have to say we are looking for something rather specialist, (boats of at least 70 years old, probably!), and although I always think the prices being charged seem top end, I have found no willingness from vendors of any of the ones we have shown interest in of anything like 20% to 25% being knocked off the asking price.

 

10% maybe, maybe 15% at an absolute push.

 

But I know for other less "specialist" boats that forum members have achieved 30% or more, if they have got lucky with someone who is desperate to sell.

 

I don't think it is a question anyone can give a generic answer to, frankly.

[b0atman]

Go for 25% off as first offer or maybe even less but what about survey ? this may say it is worth less because buyer put asking price up to cover not losing out on lower offers .

Best advice Makers name Date of build research boats of similar type for sale to get an idea then factor in history of servicing & maintenance .

Then if satisfied offer low remember buyer beware buying is a barter system .

Gut feeling counts for a lot risky area is the hull.

[John V]

Often sellers..........Alan has beaten me too most of it !!!! I got 33% off my cruiser which surprised me because I was expecting a counter offer...instead I almost had my hand snatched off.....often wonder how much lower I could have gone and still got it.....I did think my offer bordered on the cheeky though

[b0atman]

the seller is in the weakest position by paying moorings licence and insurance whilst boat is for sale.

[Alf Roberts]

It depends how much the seller has inflated the price to take into account the prevailing opinion that a discount can be had for no particular reason.

 

You should offer how much the boat is worth to you, bearing in mind things like the above, cost of remedial works from the survey. Not what you think you can get away with.

 

 

* I forgot to say, if the former applies then the best and most honest approach is "how much will you accept?"

Edited November 20, 2014 by Alf Roberts

[John V]

It depends how much the seller has inflated the price to take into account the prevailing opinion that a discount can be had for no particular reason.

 

You should offer how much the boat is worth to you, bearing in mind things like the above, cost of remedial works from the survey. Not what you think you can get away with.

 

 

very true...

[Machpoint005]

>> remember buyer beware buying is a barter system .<<

 

I beg to differ - it's a haggling system (unless you are offering to trade goods for the boat).

[Naughty Cal]

If you are not embarrassed by your first offer then it probably isn't low enough.

 

It is possible to get 25% off the asking price of some boats but these are usually priced too high in the first instance so the price you end up paying is more like what it was worth in the first instance.

[Athy]

Rachel just about beat me to it. Jennifer, in answer to your question:

- How cheeky are you?

- How thick is your skin?

 

OK, it's not a complete answer, but you get the picture. the worst they can do is say "No".

 

Alternately, if some work needs to be done, that can be a haggling or even bartering factor. I recently sold a boat for its asking price of £9,500, but on the understanding that I would have certain mechanical and structural work done, which I did and which cost me about £1,000.

[Jen_P]

If you are not embarrassed by your first offer then it probably isn't low enough.

Love it! Was embarrassed by the offer I made yesterday! The seller was annoyed I think! It was overpriced though and I had hoped to meet in the middle! But alas not! The guy wants nearer the asking price! So the hunt continues!

 

 

Once went to a seminar about making money from property. The guy viewed 100 houses a month and offered 60% of the asking price on the best 50 of them. He said on average, two sellers were desperate enough to accept so he got a bargain!

 

 

This is a bit different though: not looking to make money on my boat purchase but to find a boat I love!

[Paul C]

Surely one of the questions you need to ask yourself is: can you afford not to buy it?

[Jen_P]

Surely one of the questions you need to ask yourself is: can you afford not to buy it?

 

That's the thing. I could pay the asking price on the boat I saw yesterday but it is overpriced and there are similar boats on the market for less money that I like nearly as much!

Edited November 20, 2014 by Jennifer Page

[Paul C]

That's the thing. I could pay the asking price on the boat I saw yesterday but it is overpriced and there are similar boats on the market for less money that I like nearly as much!

 

I see you've done an edit of your original reply (which was received by email)!! Okay, basically to explain things, if you NEED a boat or you REALLY fall in love with a particular boat that you find, then there's only one guaranteed (and its not even guaranteed....) way to get it, and that's to pay the asking price.

 

If you are more flexible on time, or have a number of boats on a shortlist, or aren't as fussy, you can afford to try cheeky offers on boat after boat. People sell boats for different reasons. Sometimes, its a relative of a deceased owner and they have no interest; sometimes its someone upgrading to a larger, newer, more expensive or new boat and they need a particular price for their finances; and sometimes people will just test the market out by seeing what interest happens if they put their boat for sale. And sometimes, people change over time and boating is no longer a hobby or leisure interest, so they sell up and move onto something else (like, starting a new business, or maybe doing a different kind of boating for example coastal).

 

However, if you go round a bunch of brokers offering £10k less than the asking prices, with little/no hope of the seller agreeing, you'll end up disappointed unless you are lucky and chance upon a boat which is advertised very optimistically yet the owner is desparate to sell, yet so far nobody else has shown serious interest in the boat or offered similar/more to you.

 

Some people say its a buyer's market but at the lower end (say £20k to £35k) there's a bit of a shortage of nice boats for sale and a steady demand from newbies keen to get into boating. Go up to £40k or so and sales are much slower. This can be seen by looking at a variety of broker's websites over time. You'll see that many boats come and go on the market, while a few stick around for a long time before selling.

[Athy]

 

 

 

Some people say its a buyer's market but at the lower end (say £20k to £35k) there's a bit of a shortage of nice boats for sale and a steady demand from newbies keen to get into boating. Go up to £40k or so and sales are much slower. This can be seen by looking at a variety of broker's websites over time. You'll see that many boats come and go on the market, while a few stick around for a long time before selling.

You make a very good point, Paul. Jennifer, if you look at Apollo Duck adverts, at the bottom of each one it will say how long ago the advert was first displayed. It's not failsafe because sometimes boats are re-advertised. But perhaps you should try finding boats which you like which have been advertised for three months or more, and make a few we-are-the-cheeky-girls offers on those, as the owners will possibly be anxious to sell?

[Jen_P]

I see you've done an edit of your original reply (which was received by email)!! Okay, basically to explain things, if you NEED a boat or you REALLY fall in love with a particular boat that you find, then there's only one guaranteed (and its not even guaranteed....) way to get it, and that's to pay the asking price.

Sorry! Totally misread what you put!!!

 

I did love yesterday's boat (even planned its new name - bit like signing your name with a man's surname after the first date!!!) But thanks to seeing a second very lovely boat and viewings on three more at weekend, and two boats further away but possible, I felt able to walk away! Realistically, I can wait till February so no real rush!

You make a very good point, Paul. Jennifer, if you look at Apollo Duck adverts, at the bottom of each one it will say how long ago the advert was first displayed. It's not failsafe because sometimes boats are re-advertised. But perhaps you should try finding boats which you like which have been advertised for three months or more, and make a few we-are-the-cheeky-girls offers on those, as the owners will possibly be anxious to sell?

Been doing that! And you glean a lot from seeing the new ads for boats already saved in your watch list! The advantage of having been looking for a while, way before I seriously thought I'd buy one!

[Paul C]

Sorry! Totally misread what you put!!!

 

I did love yesterday's boat (even planned its new name - bit like signing your name with a man's surname after the first date!!!) But thanks to seeing a second very lovely boat and viewings on three more at weekend, and two boats further away but possible, I felt able to walk away! Realistically, I can wait till February so no real rush!

 

 

 

No worries. When we saw the boat we fell in love with and eventually bought, I was worried because we'd not viewed that many. So, while the sale was proceeding (it took a curiously long time) and even afterwards, I kept looking at other boats. Luckily, I didn't find a better (for us) boat so all was well.

 

I did ask at the time, how many boats should one view before deciding, there is a thread somewhere.......I can't remember if there was a consensus or not though.

[Lmcgrath87]

Some people say its a buyer's market but at the lower end (say £20k to £35k) there's a bit of a shortage of nice boats for sale and a steady demand from newbies keen to get into boating. Go up to £40k or so and sales are much slower. This can be seen by looking at a variety of broker's websites over time. You'll see that many boats come and go on the market, while a few stick around for a long time before selling.

 

Personally, I'm really struggling to find any real contenders, plenty that I would go and have a look at, but nothing has grabbed me so far. except for one of the first....but I don't want to pay what the vendor currently wants.

[Jen_P]

Personally, I'm really struggling to find any real contenders, plenty that I would go and have a look at, but nothing has grabbed me so far. except for one of the first....but I don't want to pay what the vendor currently wants.

 

Know what you mean! I've upped my budget but it means borrowing which I didn't want to do!,

 

What happened to Felucca? Thought you liked that?

 

Perhaps when I've bought a boat, and become an expert (yeah, right!), I could set up a new business looking for boats for other people! Like the Kirsty and Phil of the boating world!

Edited November 20, 2014 by Jennifer Page

[Lmcgrath87]

Know what you mean! I've upped my budget but it means borrowing which I didn't want to do!,

 

What happened to Felucca? Thought you liked that?

 

Perhaps when I've bought a boat, and become an expert (yeah, right!), I could set up a new business looking for boats for other people! Like the Kirsty and Phil of the boating world!

 

Thats the only one I want!! But i know the owners won't accept much under the asking, and I'm not prepared to just that high in price yet really. So keeping an eye on it, but really we haven't been out to see enough, so we could find something else similar that's a little less.

[Athy]

 

Personally, I'm really struggling to find any real contenders, plenty that I would go and have a look at, but nothing has grabbed me so far. except for one of the first....but I don't want to pay what the vendor currently wants.

They're still being awkward feluccas are they?

 

Forgive me if I have mentioned this before (well, it's been going on for a long time and one tends to forget), but have you considered the ex-Canal Time style of boat? They come in 45 foot (probably too small for a couple to live on) and 55 foot flavours, around your ideal price range, and look well set out and equipped. Look for "Durham Steelcraft" or "South West Durham Steelcraft" on the web and you should find a few.

[Jen_P]

We've both looked at Moytirra haven't we? I was sorely tempted!

 

They're still being awkward feluccas are they?

 

Forgive me if I have mentioned this before (well, it's been going on for a long time and one tends to forget), but have you considered the ex-Canal Time style of boat? They come in 45 foot (probably too small for a couple to live on) and 55 foot flavours, around your ideal price range, and look well set out and equipped. Look for "Durham Steelcraft" or "South West Durham Steelcraft" on the web and you should find a few.

Funnily enough, I'm seeing one at the weekend!

 

Did you offer on Feluca?

Edited November 20, 2014 by Jennifer Page

[Lmcgrath87]

They're still being awkward feluccas are they?

 

Forgive me if I have mentioned this before (well, it's been going on for a long time and one tends to forget), but have you considered the ex-Canal Time style of boat? They come in 45 foot (probably too small for a couple to live on) and 55 foot flavours, around your ideal price range, and look well set out and equipped. Look for "Durham Steelcraft" or "South West Durham Steelcraft" on the web and you should find a few.

 

 

Well I haven't been in touch recently, but I can't see them wanting to move on price much right now, so was going to wait until the new year, if she's still around then I'll start looking to put in an offer.

 

I will check out Durham Steelcraft though - thanks for the tip :-)

 

ETA - I am wondering if we could live on a sub 50ft boat... mostly because Hubs and I work opposite hours of the day so aren't often under one another feet as it where, and we both work weekends.

 

 

We've both looked at Moytirra haven't we? I was sorely tempted!

 

I haven't been in to see Moytirra in the flesh, I do like the photos, but there seems to be something 'amiss' for me, not sure what though! will eventually go for a look around, possibly this weekend or next. - having to move in January and being away for most of December is not giving me much spare time at the moment!!

 

What did you think when you went?

Edited November 20, 2014 by Lmcgrath87

[Jen_P]

I loved Moytirra!

I loved the moorings too.

I didn't buy her in the end because of one or two comments on here but also because I am weird about "nooks and crannies" and she has one or two odd little bits!

But she did have a washing machine, freezer, wardrobe and apparently there was a tumble dryer so there's room for one!