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Subject: Re: [world-cruising] Re: Buyer's Market
From: MFCorcoran (mfcorcoran@XXX.XXX)
Date: Sun Apr 06 2003 - 12:11:00 EDT
Bryan,
Thanks for the comments. Its good to have a broker's perspective in the
mix.
One thing I noticed when I started looking about 18-24 months ago was that
many boats were priced 20-30% above their BUC value. The book values seem
to have risen over the past year or two in order to compensate for this, but
I still see many boats priced with a substantial premium.
Maybe this has something to do with the boats I am considering being a bit
less disposable than others (PSC Dana and Mariahs, project tayanas, maybe
Westsails, Cape Dorys, etc) but just as you point out that many buyers want
to play halfsies (halvsies?) many sellers (possibly encouraged by brokers
seeking listings ;)) seem to be pricing their boats well above what would
appear to be fair value and the corrallary is that their is also no sale
unless a buyer is willing to pay the price. One striking example pointd out
by another prospective Dana buyer is that payments on a used 10-15 year old
PSC Dana for 50K (at used interest rates) are pretty comparable to payments
on a new Dana (@XXX.XXX
Is there a boat broker equivillent to the "buyer broker" arrangements you
see in real estate sales? I think I would feel much more comfortable with
such an arrangement. As it is, I feel like I am pretty much on my own in
the negotiating process and even a bit adversarial with the brokers --
relying on their duty as a fiduciary to present my offer rather than relying
on their advice in sttructuring my offer.
Thanks again,
Matt
----- Original Message -----
From: "Bryan Genez" <capella@XXX.XXX>
To: <world-cruising@XXX.XXX>
Sent: Sunday, April 06, 2003 11:31 AM
Subject: Re: [world-cruising] Re: Buyer's Market
> svsynergy wrote:
>
> > 5. Don't hesitate to offer a low price for the boat. There is always
> > room for negotiation in your price range.
>
> This may sound trite, but it's an important issue that many buyers fail to
> see.
>
> Unless the seller agrees to your price, there is no sale.
>
> Just because your research proves to your satisfaction that the boat you
> want is worth a specific amount does NOT obligate the seller to sell it to
> you at that price.
>
> Just because you're negotiating, does NOT obligate the seller to negotiate
> with you.
>
> Many buyers engage in the game I call "halfzies". They start negotiations
> at a given level, with the idea that they'll go halfway between that level
> and the asking price. Then they congratulate themselves on their
> flexibility, but fail to understand why the seller isn't so flexible.
>
> It takes two to tango in this business too. Don't be unreasonable in your
> expectations. Getting a boat at one-third of it's value is unreasonable.
>
> Adding to Rick's list:
>
> It's far better to be sailing on a boat you can own today, than to spend
> most of the rest of your life looking for a "good deal".
>
> --
> Best,
>
> Bryan (KB3HMZ)
> "Capella" Valiant 40 #158
> Annapolis, MD
>
>
>
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>
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>
>
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