How much under the asking price do you offer?

[boots]

This might seem rather vague, and for what it is worth - but for us when we bought our boat, it was more a case of what we could afford - i.e. We wanted the best we could get. We had/have no intention of selling her and so resale value was only a minor consideration. Yes, we did offer less than the asking price - eventually paid about 12% less - but it was a case of that was the max we could afford and that is what we felt the boat was worth to us. (The discount also included the estimated costs to repair the faults highlighted during the survey).

[Rickent]

Slight variation but on the same theme,

my house is currently on the market for offers around 100k. Had an offer yesterday 82000. Now that is really taking the piss....

[Alan de Enfield]

Slight variation but on the same theme,

my house is currently on the market for offers around 100k. Had an offer yesterday 82000. Now that is really taking the piss....

 

And yet people on this very forum suggest offering 25%,or 30% off asking price on a boat that may have a selling price not much different to your house.

 

The thinking appears to be - when you have had it up for sale for a few months, or you are desperate for the money you will accept that sort of offer - maybe you will as well.

[John V]

 

And yet people on this very forum suggest offering 25%,or 30% off asking price on a boat that may have a selling price not much different to your house.

 

The thinking appears to be - when you have had it up for sale for a few months, or you are desperate for the money you will accept that sort of offer - maybe you will as well.

 

Not necessarily so.

A boat is usually a much loved possession and people may have an inflated idea of it's value. They are often blind to some of its downsides seeing them as loved "quirks". They may be perfectly honest in the belief they are asking a fair price..However In the cold hard commercial sense it might not be worth the money they are asking.

As I have stated many times before a boat is only worth as much as someone is prepared to pay

Houses in my experience are based on the recommendations of estate agents who have a fair better idea of what things are being sold for. Few, I suspect, house sellers price below what an estate agent suggests because they think the price is unfairly high.

[Rickent]

Hi alan, would never be that desperate.

82000 is 18 percent under my asking price and to me that seems a ridiculous offer but when put into a boating context people would deem it acceptable to offer 24k

for a 30k boat and not bat an eyelid.

It does make you question whats acceptable and whats not.

[Alan de Enfield]

 

Not necessarily so.

A boat is usually a much loved possession and people may have an inflated idea of it's value. They are often blind to some of its downsides seeing them as loved "quirks". They may be perfectly honest in the belief they are asking a fair price..However In the cold hard commercial sense it might not be worth the money they are asking.

As I have stated many times before a boat is only worth as much as someone is prepared to pay

Houses in my experience are based on the recommendations of estate agents who have a fair better idea of what things are being sold for. Few, I suspect, house sellers price below what an estate agent suggests because they think the price is unfairly high.

 

In our first 4 years of marriage we moved 5 times - we bought and sold as if it was going out of fashion.

 

I found that Estate Agents will try to inflate your ego by telling you that your house is worth so much more than it really was - when similar houses in the same area have sold for 25% less you know you are going to be sat for months and months and eventually have to drop the price. anyway.

I would have 4 estate agents come and give me a price - I would take the 2nd lowest one as being the most realistic (if it fell within my expected range) and whilst not necessarily using that estate agent, that is the price I would ue to instruct the agent I chose

 

I think boat-brokers are the same - some give you realistic prices, some give way over prices.

 

When I sold my last boat, I got two quotes from Brokers - both were similar.

I deducted the £2500 commsion they would have charged and sold it privately No haggling. - I got a fair price and the buyer saved £2500.

[Rickent]

 

Not necessarily so.

A boat is usually a much loved possession and people may have an inflated idea of it's value. They are often blind to some of its downsides seeing them as loved "quirks". They may be perfectly honest in the belief they are asking a fair price..However In the cold hard commercial sense it might not be worth the money they are asking.

As I have stated many times before a boat is only worth as much as someone is prepared to pay

Houses in my experience are based on the recommendations of estate agents who have a fair better idea of what things are being sold for. Few, I suspect, house sellers price below what an estate agent suggests because they think the price is unfairly high.

 

 

 

hi john,

my house was valued at 105k but I put up for 100 so I wasnt sitting around forever trying to sell it .

It is in good order and needs no work so I know it is a competitive price I just feel at times some people try it on to see how desperate you are.

Unfortunately thats the way of the world.

[MtB]

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".

 

 

Actually I disagree with this. The worst they can do is be deeply offended and refuse to deal with you at all, meaning you've now lost the dream boat you invested perhaps £1,000 in getting a survey etc.

 

Making a low offer on a boat already fairly priced is fraught with difficulty. The most important factor is a subtle one missed by the willy-waving "that's my offer, take it or leave it" brigade.

 

The seller's ego and self respect need to be massaged/supported. Far better to make a low-ball offer by saying something like "I can see this is a really lovely boat, exactly what I'm looking for, and I'd love it and cherish it just as you have done. But the trouble is, although you are asking £X for it, I only have £Y available and in the bank. If it turned out you were willing to accept £Y for it, I'd buy it in a heartbeat and be so happy! But I know you woudn't. Or.... would you??!"

 

Clearly allows the seller to feel respected and remaining in charge of the sale, unlike with the combative "I'll give you £Y for it, take it or leave it mate".

 

In addition the "that's my best offer, take it or leave it" approach is terribly difficult to back down from, if met with NO. With the other method, one can fish around asking hypothetically "so what sort of offer would you have accepted then?" and offer to go away, do some sums, try and borrow from relatives etc. All reinforcing the idea that your best price is limited by circumstances beyond your control.

 

 

MtB

 

 

(Eidt to add the last para)

Edited November 22, 2014 by Mike the Boilerman

[Naughty Cal]

hi john,

my house was valued at 105k but I put up for 100 so I wasnt sitting around forever trying to sell it .

It is in good order and needs no work so I know it is a competitive price I just feel at times some people try it on to see how desperate you are.

Unfortunately thats the way of the world.

Trouble is some estate agents will over inflate what they think your home is worth to get you on their books.

 

There is one in Sheffield renowned for it. Would never let them market our home as you know that's what they will do.

 

We bought our house on the day it was put on the market for the asking price as it was already a very fair price. When we come to sell it we intend to do the same and market it for a very fair price. We don't want to fleece first time buyers!

[cuthound]

Actually I disagree with this. The worst they can do is be deeply offended and refuse to deal with you at all, meaning you've now lost the dream boat you invested perhaps £1,000 in getting a survey etc.

 

Making a low offer on a boat already fairly priced is fraught with difficulty. The most important factor is a subtle one missed by the willy-waving "that's my offer, take it or leave it" brigade.

 

The seller's ego and self respect need to be massaged/supported. Far better to make a low-ball offer by saying something like "I can see this is a really lovely boat, exactly what I'm looking for, and I'd love it and cherish it just as you have done. But the trouble is, although you are asking £X for it, I only have £Y available and in the bank. If it turned out you were willing to accept £Y for it, I'd buy it in a heartbeat and be so happy! But I know you woudn't. Or.... would you??!"

 

Clearly allows the seller to feel respected and remaining in charge of the sale, unlike with the combative "I'll give you £Y for it, take it or leave it mate".

 

In addition the "that's my best offer, take it or leave it" approach is terribly difficult to back down from, if met with NO. With the other method, one can fish around asking hypothetically "so what sort of offer would you have accepted then?" and offer to go away, do some sums, try and borrow from relatives etc. All reinforcing the idea that your best price is limited by circumstances beyond your control.

 

MtB

 

Absolutely, when we bought DQ she had not yet been formally advertised. We went to a brokerage to see two other boats and she had just come in.

 

Compared to all of the other boats we had seen over the last year she was in much better condition for the asking price, but was absolutely at my maximum budget. I offered 10% less and had it soundly rejected, however the seller countered with a 2% reduction.

 

I explained that she was a lovely boat, obviously well cared for, but the most I was only able to go to was 95% of the asking price. The seller said he would have to think about it, and agreed within the hour.

 

I must say that had the positions been reversed, I would have said no and waited to see what offers were made in the first month of sale. Only if she had not sold by then would I have accepted a lower offer, because she was (in my opinon) very fairly priced compared to others we had looked at.

 

I had to press the broker quite hard to produce a sales brochure for DQ so that I could brag about her before I got her!

[Alf Roberts]

 

 

Actually I disagree with this. The worst they can do is be deeply offended and refuse to deal with you at all, meaning you've now lost the dream boat you invested perhaps £1,000 in getting a survey etc.

 

Making a low offer on a boat already fairly priced is fraught with difficulty. The most important factor is a subtle one missed by the willy-waving "that's my offer, take it or leave it" brigade.

 

The seller's ego and self respect need to be massaged/supported. Far better to make a low-ball offer by saying something like "I can see this is a really lovely boat, exactly what I'm looking for, and I'd love it and cherish it just as you have done. But the trouble is, although you are asking £X for it, I only have £Y available and in the bank. If it turned out you were willing to accept £Y for it, I'd buy it in a heartbeat and be so happy! But I know you woudn't. Or.... would you??!"

 

Clearly allows the seller to feel respected and remaining in charge of the sale, unlike with the combative "I'll give you £Y for it, take it or leave it mate".

 

In addition the "that's my best offer, take it or leave it" approach is terribly difficult to back down from, if met with NO. With the other method, one can fish around asking hypothetically "so what sort of offer would you have accepted then?" and offer to go away, do some sums, try and borrow from relatives etc. All reinforcing the idea that your best price is limited by circumstances beyond your control.

 

 

MtB

 

 

(Eidt to add the last para)

if thats the truth fair enough but it has two drawbacks;

 

1. you lied

2. if you really really want the boat you'll look a prat and possibly alienate the seller if it doesn't work and you have to up your offer

 

making it just as much willy waving as the 'take it or leave it ' approach .

 

stop looking at it as a competition and you'll both get what you want.

 

I know this is an Islamic way of conducting business and therefore immediately suspect but the best merchants in the world are Arabs.

 

 

I have always asked 'what will you accept?' and it always returns the price after the willy-waving surcharge is removed. sometimes that's even (shock) the asking price. further the seller, because he will be on your side, will tell you why he thinks his price is right.

Edited November 22, 2014 by Alf Roberts

[Ange]

Sorry, did a bit of gravedigging because I struggle to remember the numbers nowadays!

 

I'd like to share a little bit of experience with newbies on the forum - particularly those who are in the process of looking for a boat to buy. Firstly, joining this forum was the best choice you ever made - it has given us a wealth of information and resources. Sometimes the questions you ask will result in conflcting answers - that's only because we're all individuals and what's right for one isn't necessarily the right thing for another. But they will help you form a balanced view with their input.

We've driven miles, climbed on and off (sometimes more quickly than others!) many boats. When we finally drew up our shortlist two were 50 foot boats that we thought we could afford, one was a 57 ft that we didn't think we had a hope of affording. The first 50ft boat was under offer when we were finally at a point to make an offer. We decided to make a silly punt at the 57 foot boat - it was for sale at £35k, we offered £24k - the broker was decidedly sniffy - till he came back and said the vendor wouldn't accept less that £27.5k! We ended up buying Iona for £27k- we had a full survey and the surveyor described the price as "ludicrously cheap".

I think there's a few lessons here. The vendor neglected the boat - she needs a bit of paint but nothing serious. He bought the boat from the same brokerage and was told it was in need of a bit of tlc - he didn't give it so he lost money.

For buyers - never be afraid of making what may seem like a silly offer - you just never know this might be your lucky day! It is definitely a buyer's market at the moment.

Happy boating peeps - we're picking up Iona next Thursday - full of trepidation and excitement.

I make that a 23% discount.

 

There's no such thing as a silly offer if the buyer accepts it - and in our case the seller had seriously neglected the boat and didn't deserve the asking price. The front deck was full of junk, there was artex hanging off the ceiling and it was dirty. You'd clean your car if you were selling it wouldn't you? Some of the dirty, messy boats we stepped aboard that were for sale for the price you could buy a very upmarket car for beggared belief.

 

Sorry - edit needed. Also it was very poorly marketed, to the extent that the surveyors, having read the marketing material that Harrals produced were very surprised not to find a decrepit old boat ready for the scrapyard.

 

PS I had a bit of an "ah bless" moment when I read my 2008 post "full of trepidation and excitement". I feel a bit sad that I take it for granted now.

Edited November 23, 2014 by Ange

[jollymoggy]

I didn't bother haggling. I wish I tried now lol

[Ange]

I didn't bother haggling. I wish I tried now lol

Ah but did you get what you wanted at a price you consider fair? Maybe the price was spot on and your decision was right

[Jen_P]

 

 

Actually I disagree with this. The worst they can do is be deeply offended and refuse to deal with you at all, meaning you've now lost the dream boat you invested perhaps £1,000 in getting a survey etc.

 

Making a low offer on a boat already fairly priced is fraught with difficulty. The most important factor is a subtle one missed by the willy-waving "that's my offer, take it or leave it" brigade.

 

The seller's ego and self respect need to be massaged/supported. Far better to make a low-ball offer by saying something like "I can see this is a really lovely boat, exactly what I'm looking for, and I'd love it and cherish it just as you have done. But the trouble is, although you are asking £X for it, I only have £Y available and in the bank. If it turned out you were willing to accept £Y for it, I'd buy it in a heartbeat and be so happy! But I know you woudn't. Or.... would you??!"

 

Clearly allows the seller to feel respected and remaining in charge of the sale, unlike with the combative "I'll give you £Y for it, take it or leave it mate".

 

 

That's my worry.

There's a boat that I am thinking of offering on but it is out of my price range. But I might offer as close as I can get, and be honest and say I simply can't find the extra money. Thus not insulting the seller but being honest about my position.

On the house selling front, I think what's most irritating are the people who offer 82K on your 100K house, you accept and then the day before exchange, knowing there is a whole chain of people riding on it, they suddenly drop to 70K. I know loads of people this has happened to.

It's outrageous!

[Athy]

 

 

Actually I disagree with this. The worst they can do is be deeply offended and refuse to deal with you at all, meaning you've now lost the dream boat you invested perhaps £1,000 in getting a survey etc.

 

Making a low offer on a boat already fairly priced is fraught with difficulty. The most important factor is a subtle one missed by the willy-waving "that's my offer, take it or leave it" brigade.

 

The seller's ego and self respect need to be massaged/supported. Far better to make a low-ball offer by saying something like "I can see this is a really lovely boat, exactly what I'm looking for, and I'd love it and cherish it just as you have done. But the trouble is, although you are asking £X for it, I only have £Y available and in the bank. If it turned out you were willing to accept £Y for it, I'd buy it in a heartbeat and be so happy! But I know you woudn't. Or.... would you??!"

 

Clearly allows the seller to feel respected and remaining in charge of the sale, unlike with the combative "I'll give you £Y for it, take it or leave it mate".

 

In addition the "that's my best offer, take it or leave it" approach is terribly difficult to back down from, if met with NO. With the other method, one can fish around asking hypothetically "so what sort of offer would you have accepted then?" and offer to go away, do some sums, try and borrow from relatives etc. All reinforcing the idea that your best price is limited by circumstances beyond your control.

 

 

MtB

 

 

 

Actually your stance and mine are closer than you think. What I wrote was my opening gambit. You can then negotiate to a mutually satisfactory price. I do it all the time with customers, and sellers do it all the time with me. The only deal worth doing is one in which both sides end up smiling, but the question is, how do you reach that point?