Making an offer on a used boat

[Pete30]

Hey all,<br /><br />I am looking at a 2000 Key West 1900CC to buy. The seller is asking $14000, which is right at the NADA book value for boat motor and trailer. The boat is in excellent condition, but should i be looking to pay less than the book value if I am purchasing through a private seller? I was going to offer 12000, any thoughts on what the price should be related to the book value? Thanks for your help.

 

[roscoe]

Re: Making an offer on a used boat

local markets prevail.

 

[RatFish]

Re: Making an offer on a used boat

In my area, my experience has shown that boats in average condition go for 5 to 10 percent below the asking price. Boats in above average condition get close to or asking price and boats in poor shape go for 20 percent or more below asking price. Above all what roscoe said is right on, local market conditions pretty much dictate selling prices. Simple supply and demand.

 

[crazy charlie]

Re: Making an offer on a used boat

If you are willing to pay $12000 and thats all,then you should offer less so you can negotiate up to your price.What I usually do is bring cash with me.I bring exactly what I am willing to pay.Cash is extremely motivating to a seller.Charlie

 

[Trent]

Re: Making an offer on a used boat

You did not say what engine it has. To give you somthing to compair to. Friend just bought the same boat 2003 model new with a 115 Four Stroke Yamaha. He paid 16,500. With trailor.

 

[Pete30]

Re: Making an offer on a used boat

Trent, that is a great deal, I would almost drive to AL for a deal like that. This one has a 150 yamaha. Thanks for the info guys, I'm going to offer 11 and see what happens. I'll keep you updated.

 

[mellowyellow]

Re: Making an offer on a used boat

you can always raise your offer, but you can never<br />lower it. start low, worst thing he'll say is "NO!"<br />for that kind of money, I would make offer based<br />on a clean bill of health from a surveyor.<br />you will have to pay for it, but it is well worth<br />it IMO. a water test would also be a must 4 me...<br />good luck,<br />M.Y.

 

[mattttt25]

Re: Making an offer on a used boat

i hate the low ball offer most people try and throw. you should first do your research and find out how much the boat is worth in your area. check out the hundreds of 'boats for sale' websites out there. a few hrs on the web, and you'll know how much it's worth. check that range against nada and buc. after all that research, you should know what a fair and reasonable price is. and that's the key- fair and reasonable to both parties. offer that, whether it's $11,000 or $13,500. be ready to discuss your reasoning with the seller. if he doesn't agree, don't threaten to walk away. rather, ask that he will think about it, promise you will do the same, and agree on meeting again in a few days to discuss your position.<br /><br />too many people think negotiating is simply looking at the asking price, offering low, and settling in the middle. that's why the world is full of amatuer negotiators. btw, i negotiate on behalf of the government for a living. good luck-

 

[mellowyellow]

Re: Making an offer on a used boat

I wouldn't feel too bad Matt if I low balled him<br />and he just said yes...

 

[Knightgang]

Re: Making an offer on a used boat

I happen to know exactly what the dealer invocie price for that boat does for, brand new out of the factory with a new 115 horse Yammie 4 stroke. Most dealers sell boats between a 20% & 40% markup, depending on area, value and survivability.<br /><br />Trent, if your freind got that rig, brand new for $16,500, then either the boat sold with less than a 20% markup or the trailer was thrown in for free. It is a good deal, but my odds are that the dealer wanted to move that boat out because it was not current model year. That boat could easily sell brand new (with trailer) for about $18,000. So the 2000 model with a 150hp engine will should bring about $12K -$13K depending on condition. <br /><br />Defenetly negotiate, but don't be surprised if the boat is in top notch shape and he does not come down much. Most people ask a little high so that there is some room to drop. You could get lucky and get it for about $11,500 or $12K.<br /><br />Let us know how it goes.

 

[POINTER94]

Re: Making an offer on a used boat

I wouldn't worry about offending a salesperson. A good salesman knows how to handle the low ball offer, and if he is really good he will have you thanking him for paying more.<br /><br />Right now I would look at where, what and market factors in your area, when shooting a price. Second be ready on the spot to buy the boat. Have the money in hand or a pre-qualified letter of credit showing your good faith. Nothing makes management happier than moving old inventory and the thought of carrying the old, slow moving inventory grinds them to a pulp depending how they are covering it. Based on the age I would imagine they are eating it (floor plan)right out of their pockets.<br /><br />Remember, that which you can't get in dollars you may be able to get in warranty/merchandise. Good luck and enjoy. Buying a boat should be fun.

 

[cuzner]

Re: Making an offer on a used boat

The only way to start is low,I don't think you will offend the sales staff by offering a low bid.The worst that can can happen is they say no.They know what they need to get for the boat and chances are its less than they are asking.Sounds like a sweet boat though. good luck!

 

[Solittle]

Re: Making an offer on a used boat

Pete - The most popular pricing guide in Florida is Boat Trader available in most convenience stores.

 

[Pete30]

Re: Making an offer on a used boat

UPDATE: Thanks for the responses... I offered $11.5, she sold the boat to a neighbor for $14 this morning. But I'm happy, I didn't want to pay $14 anyway. Time to look for the next prospect!