Used narrowboat prices (by brokers)

[yabasayo]

I've looked at a few use boats recently and two or three that would be on my shortlist.

But a bit of research shows that brokers are quite often asking more for boats three or four years old than they cost when new.

This seems a bit ridiculous for an depreciating asset.

I suspect that actual prices paid are typically significantly less than the brokers initial asking price.

It seems to me that some brokers are following the estate agent model of claiming to be able to get inflated prices in order to get the seller signed up.

Without naming names does anyone have any recent real life examples of the difference between broker asking price and final price actually paid ?

[mrsmelly]

2 minutes ago, yabasayo said:

I've looked at a few use boats recently and two or three that would be on my shortlist.

But a bit of research shows that brokers are quite often asking more for boats three or four years old than they cost when new.

This seems a bit ridiculous for an depreciating asset.

I suspect that actual prices paid are typically significantly less than the brokers initial asking price.

It seems to me that some brokers are following the estate agent model of claiming to be able to get inflated prices in order to get the seller signed up.

Without naming names does anyone have any recent real life examples of the difference between broker asking price and final price actually paid ?

Each of us will have a different tale. Each boat is different as is each broker so there is no one definitive answer. Also many secondhand boats are going up in value not down at present. My present boat because I am straight John Bull and paid cash twenty minutes after first setting eyes on it I got over twenty percent off the asking price.

[mark99]

Deleted. 

Edited October 20, 2018 by mark99

[Alan de Enfield]

16 minutes ago, yabasayo said:

This seems a bit ridiculous for an depreciating asset.

Out of the last 18 boats I have owned, I have only sold one for less than I paid for it.

Buy right & sell right and they are an appreciating asset.

 

NBs are basically a custom made commodity each one made to order and like many 'custom built' items it is not unknown for people to 'put their name on the list, pay a deposit and then sell their 'option' as it gets towards build-time.

 

NBs may not be quite there yet, but we are now in a sellers market and selling prices are now considerably higher than they were 2 or 3 years ago.

5-10 years ago you'd make an opening offer at 25% below the asking price - now you need to offer the asking the price the day it goes on the market - snooze and you loose.

 

There will always be the overpriced 'wrecks' that will only ever get sold to starry eyed floating-flat wannabe's in London, but a good boat is in much demand.

[cuthound]

24 minutes ago, yabasayo said:

I've looked at a few use boats recently and two or three that would be on my shortlist.

But a bit of research shows that brokers are quite often asking more for boats three or four years old than they cost when new.

This seems a bit ridiculous for an depreciating asset.

I suspect that actual prices paid are typically significantly less than the brokers initial asking price.

It seems to me that some brokers are following the estate agent model of claiming to be able to get inflated prices in order to get the seller signed up.

Without naming names does anyone have any recent real life examples of the difference between broker asking price and final price actually paid ?

 

 

Boats have been appreciating assets since about 2012-13. Thanks Tim & Pru.

 

When i bought mine in 2014 I offered 10% less thsn asking and the offer  was rejected. We agreed on 7% less.

 

Some friends of mine bought a boat in January, and after having their offers gazumped, eventually bought their boat at asking price.

 

They paid the same as i did but got a newer, less well specified boat for their money.

Edited October 20, 2018 by cuthound
Spillung

[dmr]

22 minutes ago, yabasayo said:

I've looked at a few use boats recently and two or three that would be on my shortlist.

But a bit of research shows that brokers are quite often asking more for boats three or four years old than they cost when new.

This seems a bit ridiculous for an depreciating asset.

I suspect that actual prices paid are typically significantly less than the brokers initial asking price.

It seems to me that some brokers are following the estate agent model of claiming to be able to get inflated prices in order to get the seller signed up.

Without naming names does anyone have any recent real life examples of the difference between broker asking price and final price actually paid ?

Boats, just like cars, come in a range of qualities and so it is very likely that a good quality second hand boat can cost quite a bit more than a basic quality brand new boat. The "new" prices that you are looking at are probably from magazine adverts where builders will give the price of their cheapest boat to attract custom.

 

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

[Movin' on]

Never lost money and on my 11th NB in 30 years - depreciation???

[matty40s]

Boats have kept their value of risen for the last 5 or 6 years.several reasons including those above. 

Boats which would have been scrapped 10 years ago now sell for £15k,

There are customers waiting for certain types of boats to come to brokerage and they generally get sold as soon as they appear (if not prior to going on the web) for asking price.

This has not so much to do with brokers raising prices as customer demand driving sales.

[Horace42]

Having enjoyed a few one-week hire cruises in the 70's, we decided to buy a boat, but first a house with an  EOG mooring. Then we found a 10 year old 50ft ex 8 berth hire boat that cost £9k +VAT. The idea was to try out boat-ownership for a couple of years to see if we liked extensive cruising , ready for retiring from work.

 

If we didn't like it we would 'get rid of it',  thinking any loss would be more than made up by the equivalent cost of hiring for the same amount of time.  Fast forward 30 years. I hope it has gone up in value.

 

Which it should, considering I have extensively refitted the inside of my boat - all very good quality but DIY nevertheless. Fully wired with 12 v and 230 volts sockets everywhere andcomplex electrical/mechanical systems All new equipment throughout at the time it was installed.  Engine, gear box, prop & shaft, deep-sea seal, batteries and management system, Victron inverter/charger, calorifier, Aldi gas boiler, central heating, solid fuel stove, cooker, fridge, pump-out toilet, fully sealed sound-proofed engine compartment,

 

But unfortunately I have neglected blacking and anodes (only 3 times in 30 years) until dry docked last month, and currently repainting with a view to selling in due course when we move home .

Hopefully for more than I paid.

 

 

 

[DandV]

It is difficult to ascertain the split between asking price and selling price. However once you have ascertained what you want, against what is on offer by brokers, and the duck, and following the time taken to progress from; Deposit taken, or price reduced, disappearing, turning up on another brokerage, you can start to get a more shrewd idea you will get  of actual selling pricing. Some sellers, will accept what a broker assesses what they can obtain. Others will persuade the broker to list for more and others the broker will refuse to list at the sellers price. So the more brokers, the more boats you actually see, the more shrewd your own judgement become. Do not lose sight of what is the boat you, want. What other people pay for other boats is largely irrelevant.

 

[Movin' on]

9 hours ago, matty40s said:

There are customers waiting for certain types of boats to come to brokerage and they generally get sold as soon as they appear (if not prior to going on the web) for asking price.

This has not so much to do with brokers raising prices as customer demand driving sales.

that's what we had to do with Zulu purchase completed before it went on the web - to maintain brokers "cred" - if it finds you and you like/want it you must be prepared to move fast

Edited October 21, 2018 by Halsey

[BruceinSanity]

4 hours ago, Halsey said:

that's what we had to do with Zulu purchase completed before it went on the web - to maintain brokers "cred" - if it finds you and you like/want it you must be prepared to move fast

Yes, I’ll be interested to see how long it takes Albert to sell, not cheap but the only Mel Davies/Braidbar out there that I know of.

 

http://rugbyboats.co.uk/listings/albert-62-2016-mel-davis-braidbar-trad/

[Movin' on]

deleted - commented on wrong boat

Edited October 21, 2018 by Halsey