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  1. #1

    So I have been searching for a nice 58.....

    Had an "almost" deal on a beautiful 58' "Dionysus", but couldn't get the financing,
    so saving up for spring and continuing my search as I think she just went pending with some other more capable person. (very sad)

    Anyways, in my searching the internet, I keep finding old listings for boats for sale that are way outdated.

    Is there a boat MLS service like the multi list service for houses that would show listing dates and price changes etc.?

    (Other than the ones like Yacht World etc. that do not have historical data)

    Or is there a favorite service anyone would recommend? I "think" I have been on all the sites LOL

    Thanks!

  2. #2

    Re: So I have been searching for a nice 58.....

    There are historical data available to brokers. You could find yourself a friendly, low stress broker willing to be your 'buyers broker", ie act on your behalf. Handy when it comes to paperwork time too. They could give you the information you are looking for. Be advised that there is no legal definition nor regulation of buyers brokers the way there is in real estate. At the end of the day it's caveat emptor.
    1978 53' Motor Yacht "LADY KAY V"
    Hull number 524
    Chesapeake Bay

  3. #3

    Re: So I have been searching for a nice 58.....

    Yes, I wonder how the brokers get that info? Is it a service that could be paid for by anyone?

  4. #4

    Re: So I have been searching for a nice 58.....

    They pay for the service, via a brokers license, would be best guess.

  5. #5

    Re: So I have been searching for a nice 58.....

    Right. I don't think just anyone can buy it, they have to be in the business. That said, if they are working for you, they will often share that data.

  6. #6

    Re: So I have been searching for a nice 58.....

    It's a subscription service. Gathering data takes time and costs money. Get a good broker to represent you and you will find it worthwhile. Hire a half-assed discount broker and get what you pay for.
    Scott
    41C117 "Hattatude"
    Port Canaveral Florida.


    Marine Electronics and Electrical Products Distributor.

  7. #7

    Re: So I have been searching for a nice 58.....

    Yes, if you hire a buying agent they will have that info, and it doesn't cost anything since they get a % of the commission. The first boat I looked at I used an agent, the second one I did it myself because I wasn't happy with the performance of the agent, or more technically, the agent's main company, not the person. But besides all that, you really have to have the financing ready, which for these old boats, mostly means cash or a home equity loan.
    Prometheus
    1978 53' MY Hull #529
    Viera, FL

  8. #8

    Re: So I have been searching for a nice 58.....

    Quote Originally Posted by Photolomy View Post
    Yes, if you hire a buying agent they will have that info, and it doesn't cost anything since they get a % of the commission. The first boat I looked at I used an agent, the second one I did it myself because I wasn't happy with the performance of the agent, or more technically, the agent's main company, not the person. But besides all that, you really have to have the financing ready, which for these old boats, mostly means cash or a home equity loan.
    This, yes, found out the financing part of it the hard way, most asking prices are 50%'ish or for a nicely restored boat, double the BUC values, and banks won't lend beyond about 90% of BUC value is what I found.

    After the fact I signed up for the BUC service and was able to look up the BUC values myself. If I had been aware of these things ahead of time I could have saved those involved a lot of time.

    Oddly enough I would have had a better shot at financing something from the 80's as the asking prices seamed more in line with BUC values. Also Buc values are closer to the ask prices on larger boats than smaller. According to the numbers I would need less down on a nice 58 than on a nice 53.

    Good to know also with regards to how that affects a potential future sale of anything purchased.

    Net Net Net, if you buy one, plan on having it for a long time, they are not an easy sale.

  9. #9

    Re: So I have been searching for a nice 58.....

    Quote Originally Posted by Bob Quinn View Post

    Net Net Net, if you buy one, plan on having it for a long time, they are not an easy sale.
    Not entirely in agreement with that. Though limited, there IS still a market for these boats. The ones that are in good shape and reasonably priced sell, some of them quite rapidly. Yes, the dogs have been sitting on YW for ever. That said, I do plan on having ours for a long time..... with a little luck.
    Last edited by oscarvan; 09-20-2020 at 09:12 AM.
    1978 53' Motor Yacht "LADY KAY V"
    Hull number 524
    Chesapeake Bay

  10. #10

    Re: So I have been searching for a nice 58.....

    Quote Originally Posted by oscarvan View Post
    Not entirely in agreement with that. Though limited, there IS still a market for these boats. The ones that are in good shape and reasonably priced sell, some of them quite rapidly. Yes, the dogs have been sitting on YW for ever.
    No argument there. Just stating that the banks way of looking at values is somewhat flawed in a way, and it reduces the number of potential buyers due to the heavy cash up front requirement.

    There is always someone out there with deep pockets! Just not the same as say buying a house where everything is based on the appraisal.

    Unfortunately the nicer the boat the greater the disadvantage and disparity between BUC value and asking price.

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