Clean looking 58my (18'2") gets major price cut

[hatteras45]

Eric, Have you been aboard "SABRINA"

 

[Boatsb]

Jim not always true.

I know a vessel listed at 159 that the 125 offer was turned down but they will take about 140-150. They are listed closer to reality to get attention. If you search for boats near your price range they want to be included. having a 25% buffer is not a luxury for many. If I want people to see a boat I list I need to get the price low enough to be considered.

 

[saltshaker]

A boat is worth what someone will pay for it, period.
Captned
MBMM

So true and in this market no one really can say what that price is until a viable deal comes along. A buyer would be foolish not to try and get a deal. Low ball offers are only a starting point. If the buyer and seller are serious, they will negotiate up and down until they reach a deal or each has reached their limit. If you outright refuse to negotiate, you might miss the right deal.

I held off on putting in an offer on a house we were looking at last Fall. The listing broker called and asked if we were interested and weather we would consider submitting an offer. We explained we felt our offer would have been too low and were waiting for a price adjustment. At the request of the broker, we went ahead and submitted a low offer. Owners rejected it but later came back with a counter offer. We eventually got to a point where a deal could be made when a full price cash offer came in. If I made my low ball offer 2 months earlier, I may have gotten the house. The buyer would have gotten a much better deal if he made a lower offer and leveraged his position of having cash and no home sale contingency. BTW he paid almost 200K more than the price we got them to.

 

[labrador]

Yea Jack, I lived in Rumson which is close to where you live. Prices were off the wall when I left for N.C. Offers on houses were above listings and not in the real world. You had to offer above listed just to get noticed. How are things up there now? I heard there were 200 plus houses in Rumson in forclosure however source not really a good one. Is that true?
Skip

 

[saltshaker]

Jim not always true.

I know a vessel listed at 159 that the 125 offer was turned down but they will take about 140-150. They are listed closer to reality to get attention. If you search for boats near your price range they want to be included. having a 25% buffer is not a luxury for many. If I want people to see a boat I list I need to get the price low enough to be considered.

I understand were your coming from and listing at a fair price is a smart move. However, most buyers in this market are looking for bargains and will start with a lower offer. If I am willing to spend $200K for a particular model and find a good one for $180K asking, I'm still going to offer low and see where I end up. Even if I'm willing to pay the $180K asking price. Smart buyers understand there are more boats available than there are qualified and willing buyers. Only a fool wouldn't try to use this to their advantage. If the boat is truly priced right, it should sell. Unfortunately for sellers with so few willing and able buyers compared to sellers, the 2 don't always meet.

 

[saltshaker]

Yea Jack, I lived in Rumson which is close to where you live. Prices were off the wall when I left for N.C. Offers on houses were above listings and not in the real world. You had to offer above listed just to get noticed. How are things up there now? I heard there were 200 plus houses in Rumson in forclosure however source not really a good one. Is that true?
Skip

There are a lot of homes in pre-foreclosure. Banks are letting things go a lot longer because they don't want to take possession of the properties. NJ prices started coming down late last year and are now really coming down. Prices down the shore started coming down sooner and are falling faster. Makes sense since they went up higher and faster during the boom. Still hard to find a good home for under $1mil but they are out there now. There are about 170 properties listed for sale in Rumson. at least 100 of them are over 1.2mil but only 4 are over 5mil. 2 years ago there would have been at least 15 priced between 5-10mil. Way too rich for my blood.

 

[Passages]

Jim not always true.

I know a vessel listed at 159 that the 125 offer was turned down but they will take about 140-150. They are listed closer to reality to get attention. If you search for boats near your price range they want to be included. having a 25% buffer is not a luxury for many. If I want people to see a boat I list I need to get the price low enough to be considered.

OK Scott - I'll give you that. In my case, I knew the boat was worth 145-150. Had the ask price been a more reasonable 159, I still would have made an opening bid of 130 and bought at 142. That would have put me at the 15% under ask you referenced.

I have to wonder how many potential buyes before me never made the call because the broker set the initial ask so high.

 

[Danali Star]

A boat is only worth what someone is willing to pay. Look at the guy in Texas that listed his 56 at $699K. He is $200K above the closest competitor. The ad claims the owner invested $1.2 million in the boat and claims it is really top drawer. I have a lot of Hatteras's to chose from at that price. If the seller simply put it out there to see if it would sell at that price, then fine, but if the seller seriously wants to sell it at that price, it will take one helluva unique buyer. My guess is, he has had NO offers cause even a low ball offer would be higher than all the other boats are listed for.

Thanks for the heads up on "Capital Gains". I have been looking at that boat and was glad to hear it is in pretty good shape. Noticed the white paint job versus the standard Hatteras color, and the pics made it hard to tell, but it looked like the paint job might be a little flat or dull. Again, hard to tell from the pics.

 

[Boatsb]

OK Scott - I'll give you that. In my case, I knew the boat was worth 145-150. Had the ask price been a more reasonable 159, I still would have made an opening bid of 130 and bought at 142. That would have put me at the 15% under ask you referenced.

I have to wonder how many potential buyes before me never made the call because the broker set the initial ask so high.

I know when I look I keep my budget in mind. If it is too far over my budget I do not look at it. If it comes down during my search I look.

 

[Sparky1]

My definition of a real offer is a fair offer on the lower side of the vessels value. A low ball offer is way below value. Offering 125 on a 200 K boat is a low ball offer.

My definition of a real offer is one that the buyer will make good on, period. As for a lowball offer being some magic perentage figure of a vessel's "value", it's not that simple, especially in this market. A boat's value is based on similar boats which have sold over x amount of time and/or similar boats currently on the market. But with the market in freefall, how can you even come up with a true value? These numbers are, or at least have been, changing on a monthly if not weekly basis.

There will never be THE ultimate deal for someone in the market for a boat. There are too many variables involved to allow anyone to claim they bought a boat at the absolutely lowest price that anyone ever has. Timing is everything for both a seller and a buyer.

 

[SeaEric]

Eric, Have you been aboard "SABRINA"

Hi Stan, No I have not been aboard her.

 

[hatteras45]

Eric, Thanks for the reply. Maybe see you soon.

Stan

 

[krush]

My definition of a real offer is a fair offer on the lower side of the vessels value. A low ball offer is way below value. Offering 125 on a 200 K boat is a low ball offer. Offering 160 is a negotiating point.

Likewise, my definition (though I'm young, I've wheeled'n'dealed all my life) of a fair ASKING price is something that will get you stuff sold in a decent amount of time.

For a car or cheaper, a price that will get it sold within 2-3 weeks.

For a house or expensive boat, I say 3-6 months MAX.

When I decide to sell something I usually want it sold. Holding costs and annoyance of dealing with tire kickers costs me money/time. I'm not in the business of being a salesman.

Now, if I am in no rush to move something, then I may put a higher price. However, I will never ask something outrageous because when people that have cash in hand see a sky high price in an ad, they won't even call about it.

Too many people way underestimate holding costs. And in a downturn, owners are fooling themselves as the value of the "baby" goes down down down......I've seen it happen a bunch of time on houses. People could've sold the house 6 months earlier if they just would've dropped the price some. Instead they held out and eventually sold it after paying 6 months of costs--and the price was lower than the "lowball offer".

But I'm no pro, just a punk LOL

 

[saltshaker]

I have a neighbor who priced her house a bit high. She was insulted by a low ball offer another neighbor made her last spring. The house is still on the market and the asking price is now 110K less than the low ball offer she refused. Like was said earlier it's only worth what someone is willing to pay.

 

[stormchaser]

bet the neighbor is quite pleased...hahahah!

 

[Sparky1]

I have a neighbor who priced her house a bit high. She was insulted by a low ball offer another neighbor made her last spring. The house is still on the market and the asking price is now 110K less than the low ball offer she refused. Like was said earlier it's only worth what someone is willing to pay.

EXACTLY! Same thing happened to me when we were house hunting about 4 years ago. We found a nice home, made an extremely reasonable offer, but the seller wouldn't budge off their asking price despite the fact the house was empty and they had relocated.

We found out about a year later that the house had sold for substantially less than we had offered. As I said earlier, timing is everything.

 

[stormchaser]

I have to admit...I did the same thing with the sale of my previous boat. Was doing FSBO and had her listed at $139,50. Got an offer of $115,000 which I accepted as an "as is where is" offer. When he got tyhe survey results he said $110,000 and I countered with $112,500 as a final offer. He walked. A few weeks later I contacted him and said ok to the $110,00 but he said things had come up in the past week and he was no longer in the market for any boat. Six months later she was with a broker and sold for $100,000 before commission. Talk about an IDIOT mistake...

 

[Brian Degulis]

There are lots of boats on YW that are over priced some have been there for years. It's obvious that the owners of these boats don't realy care wether they sell or not. The brokers probably like it because to a novice buyer it makes a good deal look even better and the sellers don't care because it cost's them nothing.

Brian