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Aprilia

Asking Prices for 2nd Hand Boats

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Looking at many boats & it seems as we all know they 2nd hand market is moving almost too fast to be true.

In these unusual times, its a difficult question but what is the experience here regarding asking prices for boats.

 

With houses, cars etc. usually the asking price is subject to negotiation and a lower figure is typical, its been 30 years since we moved house, but it was back then typically -10% of the asking price for the starting point.

With boats it could be there is no hard & fast rule, but I had read admittedly in a thread somewhere about 2 years old, that boats could sell for 15K-20K below the asking price.

Here we are presuming the price range to be around 75K-85K

So, with boat prices in this bracket, is there a target price to offer or with current situation & fast sales is it a case of pay the screen price.

 

Thanks in advance. 

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I think in the current situation with boats selling quickly if you want to buy a particular boat you need to put in a near asking price offer. If you don't think it is worth the asking price someone else will.

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7 minutes ago, Aprilia said:

With boats it could be there is no hard & fast rule, but I had read admittedly in a thread somewhere about 2 years old, that boats could sell for 15K-20K below the asking price.

Here we are presuming the price range to be around 75K-85K

 

 

Thanks in advance. 

Does that mean I could expect to get a 15k boat for free?

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4 minutes ago, doratheexplorer said:

Does that mean I could expect to get a 15k boat for free?

You can still get them for next to nothing if you trawl the back of boatyards in t'north, where they are to be found in various states of deterioration.

I am not convinces the principle holds good any more, 2018 seems like a different world. 

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Private sellers without the pricing experience of brokers will be all over the place.

Some brokers price much more aggressively then others, a clue here is the dwell time of standard type boats on their brokerage. Expect a larger split between listing and settlement prices on these brokerages.

A brokerage that is moving boats quickly, is genenerally pricing close to settlement prices.

Special boats, such as historic craft, and odd balls, will generally take longer to shift reflecting the reduced market for such craft.

And good luck.

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We put ours on the market for £55K just before the March lockdown and accepted £53K two days later from the first viewer. By the end of the first lockdown, I think we could have out it on for £5K more with the same degree of success. The pricing was that suggested by the broker. 

The broker was also selling a more expensive boat at £115k. It had been on the market for 9months. It finally sold a few weeks back for £95k. This boat was well overpriced. If a nice boat has been on the market - which the one in your budget range should be- for a number of months then it will be overpriced. The problem comes when a boat comes on the market, can the uninitiated spot if it is priced properly? If it is, it will sell in days (hours). 

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I'd love to get feedback from all brokers to see what the buyers requirements usually are, and what they end up with!

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Boats correctly priced have always sold more or less instantly. My advice to the op is dont look at the short stuff around 57 feet as you can get a mooooooooooooooch comfier better 65 foot plus boat for the same money.

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Boat prices are really hard to estimate. On the one hand depreciation on a new boat is pretty alarming and on the other hand the price put on some old heap is far more than its worth. The depreciation probably reflects a good chunk of the very expensive labour costs falling away and the overpriced old heap is probably overpriced because of demand from younger people wanting a home. I think if I was looking for a narrow boat I would buy something suitable with a thin hull and learn to weld. (I can weld but it ain't pretty and its a bit leaky!)

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The way the market is, if you want a boat the day it appears, pay the asking price.

If you want it a month later and it is still there, work out why it hasnt sold and offer less.

If its still there 2 months later it was either vastly overpriced or has inherent problems (meaning its vastly overpriced as it will cost a lot to fix)

 

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5 minutes ago, matty40s said:

The way the market is, if you want a boat the day it appears, pay the asking price.

If you want it a month later and it is still there, work out why it hasnt sold and offer less.

If its still there 2 months later it was either vastly overpriced or has inherent problems (meaning its vastly overpriced as it will cost a lot to fix)

 

Wot he said!

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52 minutes ago, Bee said:

Boat prices are really hard to estimate. On the one hand depreciation on a new boat is pretty alarming and on the other hand the price put on some old heap is far more than its worth. The depreciation probably reflects a good chunk of the very expensive labour costs falling away and the overpriced old heap is probably overpriced because of demand from younger people wanting a home. I think if I was looking for a narrow boat I would buy something suitable with a thin hull and learn to weld. (I can weld but it ain't pretty and its a bit leaky!)

I'd  suggest you don't put this on your advertisement for your welding services... :)

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3 hours ago, doratheexplorer said:

Does that mean I could expect to get a 15k boat for free?

maybe, but during the first year you will have to spend 15K just to keep it afloat  :rolleyes:

Edited by Murflynn

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22 minutes ago, Murflynn said:

maybe, but during the first year you will have to spend 15K just to keep it afloat  :rolleyes:

that's if it was floating in the first place :D 

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One boat I thought overpriced has  sold . But it may have sold for less than asking.

Two others also asking ambitious prices have stuck despite both being  very nicely presented .  But who knows - they may sell as there is not much choice out there.

 

I do wonder if there will be some boat price inflation - but it will be short lived.

 

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Its a harder world now, less gentlemen about and everybody wants money.

If you want a house in a popular town then you put in a bid at the asking price, or maybe just above,  after a few days the estate agent comes back and tells you there are several bids so would you like to make a higher one?. There can be two or three rounds of this and its a blind auction because you don't even know if the estate agent is telling the truth. Buying a boat is probably more honest than buying a house.

 

................Dave

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One of my sons was in the market for a rare, in the area, doer upper property. Sealed bids only. What a farce! He did, in fact, put in an offer. Told he wasn’t successful but wasn’t intoned why. Too low a bid, too high unrealistic offer, he wasn’t a preferred buyer, wasn’t the favourite builder, no reason given.

 

Worse than gazumping in my opinion.

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1 hour ago, Nightwatch said:

One of my sons was in the market for a rare, in the area, doer upper property. Sealed bids only. What a farce! He did, in fact, put in an offer. Told he wasn’t successful but wasn’t intoned why. Too low a bid, too high unrealistic offer, he wasn’t a preferred buyer, wasn’t the favourite builder, no reason given.

 

Worse than gazumping in my opinion.

That's the way they do it in Scotland but at least you know where you are.

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On 16/10/2020 at 08:17, doratheexplorer said:

Does that mean I could expect to get a 15k boat for free?

Or a £10k boat and the seller gives you the boat and £5k :)

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22 minutes ago, Laurie Booth said:

Or a £10k boat and the seller gives you the boat and £5k :)

cashback on boat purchase !!

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