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Subject: Re: [world-cruising] Buyer's Market
From: Bryan Genez (capella@XXX.XXX)
Date: Sat Apr 05 2003 - 20:58:05 EST
MFCorcoran wrote:
> Any insights, real world experience, or advice on how to handle the initial
> bid would be much appreciated.
Matt, I've been a broker for the past 13 years. I have a few thoughts that
might be useful (or not) <G>.
First, the "buyer's market" is not uniform. In other words, some segments
of the market are weaker than others and some geographic areas are weaker
than others.
Right now, the weakest segment of the sailboat market is the $150-500K area.
There are still many people looking in your price range for good boats. At
least that's true in this area (Maryland). If you've seen a boat in your
price range that's been on the market for 18 months, there's something
wrong...maybe it's in poor condition, or it's overpriced.
Generally, most boats sell within 10% of asking price. Obviously, there are
exceptions.
Generally, you get what you pay for. People are not panicking yet. They're
just waiting a little longer for a sale.
The best deals can be found on boats that need a bit of repair or TLC. I
sold a boat last week for about 30% under value, because it was in need of
repair, and the owner was not able to fix it properly. The sellers now have
that problem, but in the end they'll save a bit.
I can't address the powerboat market, as I don't work there.
-- Best,Bryan (KB3HMZ) "Capella" Valiant 40 #158 Annapolis, MD
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