88 Galaxie 18' 1800V = $4500?

[imported_t3___]

So after years of research and hesitation, Im getting ready to buy my first boat. I have found an 18' 1988 Galaxie 1800V, 120HP Merc Cruiser for $4500. The price includes a bimini top, cover, fish finder, shore radio, dual batteries and life jackets. The owner has 15 years of maintenance records and is an older man, and I am quite comfortable that I am buying the right size engine/type of boat as I have two friends who own similar runabouts.<br /><br />Nadaguides (bluebook for boats, motorcycles, etc) however quotes the boat as being worth about $1000 less. Other similar boats (though mostly bayliner brand) of the same age and engine size are price very very similary.<br /><br />So my question is... all things factored in, am I getting a good deal? Should I be paying less because it is still winter, etc? Are nadaguides estimates at all reliable, or is it simply what the market will pay? How does the Galaxie name compare to others in this category? I am in orange county CA.<br /><br />Any information would be greatly appreciated.

 

[Trent]

Re: 88 Galaxie 18' 1800V = $4500?

That would be high in my part of the country.

 

[tommays]

Re: 88 Galaxie 18' 1800V = $4500?

i think the only way to tell is what you can buy in YOUR AREA for 4500 dollars in the same size and condition<br /><br />its rare to find a boat that has had that level of care and can prove it <br /><br />tommays

 

[zoom50]

Re: 88 Galaxie 18' 1800V = $4500?

I would find out if the NADA includes trailer, show him blue book, and make deal contigent on mechanic doing a compression test etc...This will cost about $100, but if there is a motor about to go, this will save you $1000s. Maybe you can offer a few hundred less, give him half and will pay the other half once a sea trial with him proves there the hull is dry and the motor runs.

 

[imported_t3___]

Re: 88 Galaxie 18' 1800V = $4500?

The nadaguides estimate included the cost of the trailer and all extras. I priced out a dozen older boats for sale and ALL of the estimates off of nadaguides were at least $1000 below market value. I think the min price in this area for something old, decent, and running is $4000, kinda like how you cant buy a running car for less than $500. They will charge 1000 or so if it was maintained well or has a larger engine etc.<br /><br />I will definately do the $100 presale diagnostics, and those usually include a basic look at the hull. Is there any way I can check the hull myself when I go look at it?

 

[Solittle]

Re: 88 Galaxie 18' 1800V = $4500?

Take a plastic hammer with you when you go over the hull. Rap the transom both inside and out all over and listen. Sound wood in the transom core will give you a solid sound. Areas with rot will be more of a thud. If it has rot you may be able to trace the area of the rot just by the sound.<br /><br />$4,500 seems a lot for what you describe - at least it would be in south Florida. Don't get dazzled by the accessories. Best bet is to get a copy of Boat Trader magazine for your area at most convenience stores or go to traderonline. Pricing is very location and season dependent.

 

[zoom50]

Re: 88 Galaxie 18' 1800V = $4500?

Warning signs of rot include loose seats where the bolts are digging through soft wood...also check around any extras that were bolted into wood and not properly sealed. If you like the boat and it is $4,800, you don't have much to lose if engine checks out and hull is dry...a rebuilt motor is only a few grand if you can get a few more years out of it...Since you are new to boating, make sure you are buying a boat that fits your needs...I made the mistake of buying a carpeted bowrider and found out a shallow draft outboard fishing boat better suited my needs...plus fishing boats are in more demand which is helpfull when you go to sell or trade in. I think buying used first boat is the way to go so you don't kick yourself when you make mistakes such as hitting dock, prop hitting ground, etc...The same reason learning to drive with a new BMW is not the smartest choice.

 

[nightstalker]

Re: 88 Galaxie 18' 1800V = $4500?

The price of a used rig is always dependent upon what the market will bear in the area, but the cost of that rig seems to be at least $1000 high. In my area, that rig would go for about $3000 and even that would be after a compression test was done.<br />Stalker

 

[imported_t3___]

Re: 88 Galaxie 18' 1800V = $4500?

^^^<br />Well everything seems more expensive here in southern california. I looked again at boattraderonline.com, and there are only two boats cheaper than $4500 within 75 miles (HEAVILY populated area in every direction, mind you), and both required "minor repairs". Again, it seems like anything in good running condition here is worth over 4.<br /><br />Another question, and I know this will vary greatly from situation to situation... but in general, do boat sellers mark up the price a nominal amount (10 percent say), knowing that they will lower it to make the sale? I asked this guy flat out if he was flexable on price, and he basically evaded the question. <br /><br />Thanks for all the informative replys.

 

[Solittle]

Re: 88 Galaxie 18' 1800V = $4500?

There is a bunch of difference between savvy sellers/buyers and the folk who are not. To answer your question though - - yes a savvy seller will ask more than he expects to get to give the buyer the impression that he is getting a good deal. The savvy buyer knows this and sizes his offers accordingly. A savvy seller will attempt to get the prospective buyer to make an offer first.<br /><br />What I have done as a buyer is to decide what is the max that I would pay and then offer less so that I could come back with a counter offer at or less than my max. Say a guy has a rig that I would like. I determine that the most I would pay is $11,000 - - The seller's asking - - $12,000 - - I might offer $10,000 and see what he comes back with knowing that I would go to $11,000. If he is motivated he'll sell at $10k or counter. If he has no flexibility I will walk.<br /><br />Good luck & let us know how it goes down.