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Subject: [world-cruising] Re: Buyer's Market
From: svsynergy (svsynergy@XXX.XXX)
Date: Sun Apr 06 2003 - 10:12:13 EDT
Matt,
As a recent boat buyer, I can suggest a few things:
1. Do your homework in selecting the best boat, not the perfect
boat. I don't believe the latter really exists. This sounds trite,
but I've learned that it's the absolute truth.
2. Once you determine which make you want, research, research,
research. Learn about the different configurations and options
available for that boat. This will help you determine a best guess
value for the boat. Also, find out from existing owners or owner
associations the common problems associated with that particular
make. Education provides the best leverage.
3. Contact repair riggers, sailmakers, etc. to see what costs are
associated with each of the common problems. This will help you
arrive at a reasonable figure for the initial repairs.
4. Don't mention any timeframes or how you plan to use the boat as
this will indicate to the owner/broker what your options are in the
present market. Of course, this entails a bit of risk since an
honest broker may dissuade you from your chosen model for good
reasons.
5. Don't hesitate to offer a low price for the boat. There is always
room for negotiation in your price range.
6. Start looking for a reputable surveyor now if you have an idea
where you will buy the boat. Finding one in the days following the
acceptance of your offer will add needless stress and may result in
selection of a bad surveyor. Don't be intimidated to ask them
questions. As an example, we found one who claimed to have sailed
around the world with thirty years experience on classic boats. When
we asked him about his familiarity with the boomkin, he
replied, "sure I know what it is, it's the attachment behind the
gooseneck." Make your selection carefully. I can't stress that
enough.
My wife and I were looking in your same price range and with patience
we found a gem of a boat for 1/3 the selling price. It took almost a
year of searching, and a disastrous first negotiation (on a different
boat), but in the end we were delighted with the results. Good luck!
Louis and Mariella
s/v Synergy
Westsail 32
--- In world-cruising@XXX.XXX>
wrote:
> Hi,
> I normally just read this, and other, lists to pick up ideas and
tips in my
> ongoing search for the perfect boat (at the perfect price).
Recently, I
> have noticed a few people pointing out that it is a "buyer's
market". I am
> aware that quite a few boats which I looked at last year are still
on the
> market today -- and some seem to have been on the market as long as
18
> months. That sure seems to qualify as a buyer's market.
>
> Now, as a prospective buyer, I would like to know how to leverage
that
> market. Since I have not yet made an offer, I do not know how much
> negotiating room (percentage wise) I will find in the market. My
budget
> hits a wall in the 40-45K range, so a 20-25% negotiating room on a
50K
> cruiser would make all the difference in the world. The brokers I
have
> spoken with have all -- suprise -- told me that each and every boat
they
> have shown me is priced at rock bottom . . .. I don't believe it,
but if it
> is true, I don't want to waste either my time or their time on
unaffordable
> boats.
>
> Any insights, real world experience, or advice on how to handle the
initial
> bid would be much appreciated.
>
> Thanks
> Matt
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