Price of boats

[TheyAllFloatDownHere]

Hi there Boaters,

 

So I've been informed by a seller that narrowboats are currently worth from £1000-£1500 per foot. This is my skeptical face:

 

Surely this depends upon the make and model, year, condition, etc? You can't just say 'all narrowboats are currently worth between x and y'...can you?

 

Does the location of the boat (regardless of mooring) matter in terms of price? I know you can get cheaper boats out of London.

 

Thoughts please.

 

Thanks!

 

 

p.s. Sorry about font size craziness.

[Alan de Enfield]

You can BUT a NEW narrowboat from around £1100 per foot, depending on Manufacturer and Fitter, it could be £2,000 per foot.

 

Second hand NB's are worth what someone is prepared to pay, depending on how much they want it, maker, condition age etc etc

 

Read your question again - are you loking at including the mooring in the price (ie paying a premium because it already has a mooring)

 

The price of a boat will not vary hugely around the country on a like-for-like basis, but it is possible that there may be a larger selection outside of London and the prices appear to be lower.

 

Unlike houses - boats are movable so there is not a big difference.

Edited October 10, 2014 by Alan de Enfield

[Burgiesburnin]

Your value price per foot could be realistic for a new build.

You are right to be skeptic about values like this and yes, it is defendant on all of the criteria that you mention and also a few more.

It does seem that boats are slightly cheaper in say "the North" but then, so are most things.

 

As a seasoned armchair "boats for sale" viewer there often seems to be no logic in where some sellers get their prices from. Most are ( I would say) overpriced but then anyone would advise you to negotiate with sellers and if both are seriouse buyers/sellers then a common ground should be found. If not, then don't be afraid to walk away Nd get on to the next one.

 

Two things which I would say are 1) there are no bargains. 2) get a survey before purchase.

[TheyAllFloatDownHere]

Thanks. For context, this boat was built in 1996 or so and is second hand. She does have a mooring but I am keen to understand the price of the boat without the mooring.

[Alan de Enfield]

This has been repeated many, many times, but just in case you didn't know.

 

Moorings are not necessarily transferable with the purchase of the boat - it is the 'gift' of the mooring owner to agree to the transfer, not the 'gift'of the boat seller.

 

There have been some/many occasions where the buyer has been told they can have the mooring, pay a premium of (say £40,000), buy the boat and then the mooring owner comes along and evicts them as they do not have the mooring rights / agreement.

 

If looking to buy a boat on a mooring, you need to discuss with, and get written authorisation, from the mooring owner that you can take on the mooring.

[Paul C]

Hi there Boaters,

 

So I've been informed by a seller .....................................................

 

Thus making the information completely meaningless.

 

If they perceive the value the boat more than its actual saleable cost, let them keep it.

[Bod]

Hi there Boaters,

 

So I've been informed by a seller that narrowboats are currently worth from £1000-£1500 per foot. This is my skeptical face:

 

Surely this depends upon the make and model, year, condition, etc? You can't just say 'all narrowboats are currently worth between x and y'...can you?

 

Does the location of the boat (regardless of mooring) matter in terms of price? I know you can get cheaper boats out of London.

 

Thoughts please.

 

Thanks!

 

 

p.s. Sorry about font size craziness.

 

Do I recall correctly that in another thread, someone recently travelling through London, was surprised at the number of hand writtern "For Sale" signs in boat windows.

Maybe bargains to be had, in the south after all!

 

Bod

[bottle]

See posts #2 and #5

 

I would have put the same.

[TheyAllFloatDownHere]

 

Do I recall correctly that in another thread, someone recently travelling through London, was surprised at the number of hand writtern "For Sale" signs in boat windows.

Maybe bargains to be had, in the south after all!

 

Bod

 

Yup. I'm looking in London at the moment and there are loads of handwritten signs.

[Phil Ambrose]

 

Yup. I'm looking in London at the moment and there are loads of handwritten signs.

And there must be a reason for this.

Phil

[Richard10002]

My boat was ten years old in 2011 when I bought it. Its 45ft long, by a good builder, and was in good but not fabulous condition. It cost me £400 per foot. I was expecting to pay around £550 per foot for a boat. It struck me that you could get a new or nearly new boat for about £1000 a foot.

 

Looks like if your seller's mouth is open, he's lying

[bottle]

There is absolutely no way that anyone can say that a second hand boat is worth £1,000 per foot.

 

It will depend on age, quality of shell and fit out and condition.

 

I believe it is still possible to get a new boat for £1,000 per foot but check out the quality and fitout equipment.

 

A new live aboard suitably equipped, of good quality, will be more like £1,500 (basic) to £2,000 and even more

[Alan de Enfield]

 

I believe it is still possible to get a new boat for £1,000 per foot but check out the quality and fitout equipment.

 

 

Here is one :-

 

Our prices start at £1,100 per foot for a fully fitted Narrowboat, or if you prefer to fit one out yourself we offer a range of Narrowboat's and Widebeam's completed to any stage.

 

http://www.sherwoodboats.co.uk/prices.php

[TheyAllFloatDownHere]

My boat was ten years old in 2011 when I bought it. Its 45ft long, by a good builder, and was in good but not fabulous condition. It cost me £400 per foot. I was expecting to pay around £550 per foot for a boat. It struck me that you could get a new or nearly new boat for about £1000 a foot.

 

Looks like if your seller's mouth is open, he's lying

 

From my admittedly slim experience, sellers are given to wild overestimation of the value of their boat. I don't think my seller is lying, they are just being too optimistic and getting advice from people who are telling them what they want to hear. In this case, the seller has asked the marina managers, who of course get a cut of sale price. I guess they are trying it on a bit, also.

 

I'm rather surprised that so many sellers have incredibly unrealistic expectations.

 

But that's a good guide price you've given there, thanks.

[Paul C]

 

From my admittedly slim experience, sellers are given to wild overestimation of the value of their boat. I don't think my seller is lying, they are just being too optimistic and getting advice from people who are telling them what they want to hear. In this case, the seller has asked the marina managers, who of course get a cut of sale price. I guess they are trying it on a bit, also.

 

I'm rather surprised that so many sellers have incredibly unrealistic expectations.

 

But that's a good guide price you've given there, thanks.

 

Doesn't make sense to me. Don't know why marina managers are earning a cut from the sale - are they acting as a broker or do they have a restrictive clause in the mooring contract?

 

A broker doesn't want to overprice a boat and have it for sale for ages. They'd rather price the boat at the correct price and have it sold (reasonably) quickly. For example, what's the point in pricing a £30k boat at (initially) £40k and having it sit on brokerage for 6 months, only to be reduced time and time again until it sells for £30k (ie at 4% commission, £1200 earned over 6 months - getting pretty close to the price they could have let the same space out as a normal mooring!) If the same broker put the same boat up for eg £32,950 and it sold in half the time (for £30k), THEN GETS ANOTHER BOAT FOR SALE for the same figures, he'd make twice the money in the same period. Even if miraculously the £40k boat did eventually sell, due to the length of time on brokerage it would still be financially worse off for the broker.

[Alan de Enfield]

Just as a further guide

 

Our 15 year old 45 footer cost £675 per foot - but it was bult by a very good builder and had recently had £15,000 spent on an internal refit.

 

So many variables it really impossible to give a guide.

[MtB]

The seller is taking you for a fool. You can have either of MY boats for £999 a foot.

 

I take payment by credit cards if that helps...

 

 

 

MtB