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Subject: Re: [world-cruising] Buyer's Market
From: Rick Bradshaw (rbradsh2@XXX.XXX)
Date: Sat Apr 05 2003 - 23:58:30 EST
Another way, aside from pointing out the things that are wrong with
the boat physically, to "leverage" the price might be to point out
that since the boat has been on the market "X" months at "X" per
month for slip fees and various maintenance expenses, they have lost
"X" $ holding out for "their" price. Add the boat mortgage cost to
that each month too. If they had taken that much less all those
months ago. They wouldn't have the boat on the market yet today. You
might ask them how long they are prepared to wait to get their price
given they are loosing "X"$ per month. Many sellers haven't thought
that out. They might pay $10k in these fees, for example, just to get
their price which may be over priced as is. They just see what they
"have" to get for that boat. On the other hand, this might not be the
way to go if you don't present it with "kid gloves" since not
everyone likes to hear what they are loosing on a boat they no longer
want to have. YMMV though.
Rick
>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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