Fair value for this Smokercraft...

[FishNotWork]

Found this fishing boat for sale on local craigslist. What is a fair price range for a boat of this type:
http://rockies.craigslist.org/boa/2907556965.html

It seems to be fitting all our needs and seems well taken care of - haven't seen it in person because it's 4hrs away but I plan on making the trip later this week if all works out.

Don't want to overpay. A suite spot would be for just under $7K though given the market in CO I know this is probably not realistic but I'm going to try for that.

Give me your opinions on the fair market range. Thx -
James

 

[Bob_VT]

Re: Fair value for this Smokercraft...

That is listed for TOP dollar............. do your homework. Look it up on nadaguides.com and that 50 is kind of small for that 16' boat

 

[FishNotWork]

Re: Fair value for this Smokercraft...

According to the NADA Guides, that boat with all standard equipment and most of the options that he listed should be around $5000, and he's asking $7500 - that's quite a gap. Looking at some of the completed listings on eBay I found one similar boat (though 7 yrs older but with a bigger motor: 75Hp) - it sold for $4600 so that would give some support to the $5K that Nada says it should be worth.

How should I start the negotiations with the owner?! I'm not yet emotionally involved with the boat, so it should be easier (I know how emotions can complicate things). He's 3.5hrs away from me so I don't want to drive down there and have a deal fall apart and have to track 4 hrs back home with nothing.

I'm thinking of presenting him with my findings over the phone before I head down there, and try to start the negotiations at $5500, knowing that he'll balk at this figure. For comparison, here is what $5K buys you in Denver today: http://fortcollins.craigslist.org/boa/2908004023.html

What I have going for myself is that the Blue Mesa reservoir is still frozen down there and unlike Denver, the spring fever has not yet hit down there so it's considered early season there and not many buyers (yet) - which should work in my favor, but still $2000 price gap will be a tough fight to win.

I don't want to offend him with a low offer, but I don't want to walk away a sucker either...

Tips, suggestions would be welcome.

Thx,
James in Denver, CO

 

[oops!]

Re: Fair value for this Smokercraft...

that is a nice boat ....but for the 7.5k.....he is the one emotionaly attached to the boat....

its only a 50......that is really under powered.

your problem is the distance.....negotiation over the phone on a boat you have not seen is a real pain....most of the time is does not work out too good unless the owner is really motivated to sell.

i would call him......ask questions about the boat....like why is he asking so much (ask that gently,) by explaining that you are interested in the boat .....but that you have investigated and found the boat to be about 2k high. ask him to tell you why you should pay the extra 2k for his boat....

if you can see that he is no bull....it is worth the drive.....

the other way is to let the guy sit with no calls for a few weeks....then call him !

 

[5150abf]

Re: Fair value for this Smokercraft...

Agree, that is way high for a 13 year old boat, it does look to be a nice boat i really good shape but wow, that si probably only 2-3 k of a brand new one.

Do the deal over the phone , no sense driving that far just to turn around, if you can't get him close on the phone you won't do it in person either, if you can't hit a number leave and offer and time dead line, I will go ... and that stands till next Sat and then let him sit.

You never know, someone that doesn't know just may give it too him or noone could call and you get it.

 

[ezmobee]

Re: Fair value for this Smokercraft...

Nice boat but not exceptionally equipped. Minimum HP motor and a painted trailed. $5k tops.

 

[The Famous Grouse]

Re: Fair value for this Smokercraft...

Everything depends on exact condition, but I agree with the others that $7500 is over the top regardless.

Two factors come into play:

1. Here in MN and in the norther tier states in general, we are now entering The Silly Season where newbie buyers go crazy and become willing to pay almost anything to get a boat "in time for the start of the season".

This has a knock-on effect on those who are not willing to pay over the top prices because sellers tend to get a lot of calls, even if they are overpriced. This deludes them into thinking their boat is worth more than it is and they become reluctant to get real about prices. And in some cases they will find a sucker who's willing to pay, but mainly they just become frustrated at the "lowball" offers.

2. How willling are they to negotiate? In general, most sellers overestimate the value, but some are realistic about what the final selling price should be and some are not.

Grouse

 

[FishNotWork]

Re: Fair value for this Smokercraft...

Everything depends on exact condition, but I agree with the others that $7500 is over the top regardless.

Two factors come into play:

1. Here in MN and in the norther tier states in general, we are now entering The Silly Season where newbie buyers go crazy and become willing to pay almost anything to get a boat "in time for the start of the season".

This has a knock-on effect on those who are not willing to pay over the top prices because sellers tend to get a lot of calls, even if they are overpriced. This deludes them into thinking their boat is worth more than it is and they become reluctant to get real about prices. And in some cases they will find a sucker who's willing to pay, but mainly they just become frustrated at the "lowball" offers.

2. How willling are they to negotiate? In general, most sellers overestimate the value, but some are realistic about what the final selling price should be and some are not.

Grouse

Thanks Grouse - there is a lot of 'dellirium' going on in Denver right now with sellers showing a boat to 1 person while the phone is ringing with other buyers willing to pay the asking price and more! That has not yet reached down there in Gunnison where he lives so I may have a chance to negotiate - will see later today how it goes.

All good advice everybody - thanks!
James

 

[FishNotWork]

Re: Fair value for this Smokercraft...

Well, I've negotiated with the seller. I presented my findings on NADA and some of the completed listings on eBay and then I gave him my offer: $5800 - thought it was a respectable offer. He took some time to think about it and then simply texted back that my offer is too low - good luck. I asked if he wanted to counter but he never even wrote back. Some people...

 

[Bob_VT]

Re: Fair value for this Smokercraft...

Trust me you are better off.

 

[FishNotWork]

Re: Fair value for this Smokercraft...

Trust me you are better off.

I believe so... there were few loose ends on that boat and as I dug deeper there were more and more small issues popping up here and there: the trolling motor had some issues from time to time (short, or a loose wire somewhere, or needed serious cleaning), the radio would drain the battery so the fuse had to be permanently removed, and the new title work was being processed by the State (lost title) ... all of this tells me he wasn't really prepared for sale of the boat and was pretty cocky asking the top dollar. So be it... already forgotten.