Boat Buying...whats a reasonable offer?

[Bigprairie1]

Ok, for those of you who have sold and bought (several?) boats what do you consider a reasonable offer on an asking price and what is a lowball offer?....say as a percentage? Whats an insult?
ie: is an offer of 90% asking pretty fair?...but 50% lowball...or 75% lowball?
Whats the lowest offer you have made relative to asking price? Did it work? Do you play by your own rules when buying vs. selling?

BP

 

[Bondo]

Re: Boat Buying...whats a reasonable offer?

Do you play by your own rules when buying vs. selling?

Ayuh,..... Of Course.......

Probably My Best Deal of late was the 176 Glastron, with a 150hp Tower of Power on it,....
It sat on the side of the road with a sign saying $1500.00 for a couple of months,....
Shortly after mid-July, he lowered the price to $1000.00......
About a month later I finally got ahold of him,+ met him at the boat.....
I looked it over,+ pointed out many of the Issues with the package,.... Then I offered $750.00,... Of course he instantly started whining that it's just Not enough,+ he'd be willing to take Payments(because I told him that $750. was All that I brought with me)....
I started walking to my truck,.... By the time I had my door open,...
I had it bought for $780., as that was All the cash I had on me.....
I later sold the Hull,+ Junk trailer for $450.,+ the motor now sits on a stand in my garage waiting for the hull I bought it for....

Sooo,.... I guess I offered 75% of the current asking price,+ actually bought it for 50% of the original asking price.....

 

[tashasdaddy]

Re: Boat Buying...whats a reasonable offer?

when i want to sell a boat "i want to sell it". i price it to sell.

but as a restorer, or fixer up-er, i buy cheap, do my thing to them, use them. i try different set ups, try to make it the best boat for a particular purpose. after learning from that boat, i usually sell it an move on to another.

i do this as a hobby, educational, one day i will get a boat setup exactly, like i want. then i will have nothing to do.

i have never accepted less than 10% off the asking price.

 

[45Auto]

Re: Boat Buying...whats a reasonable offer?

Do your homework. Take some time and get familiar with prices on what you want. Look around the internet (Craig's list, Iboat, Boattrader, etc) and locally and get an idea of the asking prices for what you want. You'll probably see a wide range, the lower end of the range is usually the most realistic.

Asking price is pretty much irrelevent, just means they're ready to sell. Doesn't make sense to offer a straight percentage lower. If the boat is overpriced by 50% why would you want to offer 25% (or some percentage) less?? On the other hand, if the boat is underpriced why let it get away by not giving them what they want for it?

Offer what the boat is worth to you based on what you've seen. Be prepared to pay what they're asking if it's underpriced. Grab it quick before the next person that looks at it does.

Never understood the concept of an "insult" when you make an offer. I'm not insulted by what they think their junk is worth, why should they be insulted when I offer what it's worth to me?

 

[aspeck]

Re: Boat Buying...whats a reasonable offer?

It really depends on the original price, and the attitude of the buyer and seller. Having been is sales, I have had people offer me 25% of the original price and I did not find it offensive at all. But I have also had people offer me 75% of the original price and found their offer to be offensively low. It is all in the presentation and the mood of the seller as to how the price will be percieved.

Before offering a price, get to know the seller a little. Find out if they like to wheel and deal, or if they truly feel that the price offered is the lowest one accepted, or somewhere in between. Do they like to be joked with, or do they like serious negotiations. Then plan your strategy from there. There is no "One size fits all" when buying and selling.

 

[dcg9381]

Re: Boat Buying...whats a reasonable offer?

It's going to vary quite a bit from seller to seller. If the boat is in good shape, a desirable boat, and the seller just listed it - good luck lowballing.

As a seller, I price them to sell also - I do my homework, compare on boattrader, craiglist, and ebay (nationwide). I'm usually confident enough in my price that I say I'll negotiate if you can find me an advertisement of a boat in similar condition at a lower price..

 

[Bigprairie1]

Re: Boat Buying...whats a reasonable offer?

.....interesting feedback guys....and I agree it is a bit hard to get a cut and dried rule on it. For me, the question and situation stems from comments that I've read all over Craigslist from sellers. So many of them have, I guess, been heavily lowballed on their boats for sale that they distinctly threaten people with attempting to continue lowballing them...and I wondered what that amount might have been to cause such a backlash.
Me and a buddy of mine have been keeping an eye out for a small (17-18') cheap semi-disposable boat that we can repower or repower and sell..purely a fun thing, no heavy investment. I've been watching craigslist and have come across a few candidates. We are in no rush or requirement for getting something...its currently more of a notion.
I'm tempted to try a few 'lower' (hopefully not 'lowball) offers out on some of these...probably in the 65-75% range and see where it goes. Generally I try to be a fairly respecting buyer....but I'm gettin tempted to try out a different tactic.
BP
PS- Bondo....I like the kind of deal you got....now thats what I'm talkin' about!

 

[Silvertip]

Re: Boat Buying...whats a reasonable offer?

If you plan to do a "buy-sell" deal you had best be low-balling every boat you look at or you will end up buying high and selling low which creates negative cash flow. Low balling does not mean you have to be a jerk about it but you do need to know what you are attempting to buy. If its outboard powered boats you need to know the value of the brand, year and HP of the engine. That's easy enough to determine. Check any on-line boat dealers used engine listing. Throw out the highest and lowest. Those in between represent average value. Same for boats. Look at used boat prices at any of the on-line dealers. Again -- throw out the lowest and highest. You now have a reference point. Buy it right, buy it good condition, and you won't have to invest much. Whatever you do add value rather than making a bad deal worse by throwing money at it just to get rid of it.