Pending purchase - Feedback requested

[KBHumphrey]

Hello all. I posted the below note in the Mariah forum, but it doesn't look like there's a lot of traffic in that forum, so seeking general input from anyone. Thanks in advance.
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http://forums.iboats.com/showthread.php?t=444440

The wife and I are looking to get the kids into boating. We both did it quite a bit in our youths but have never owned our own boat. I'm looking at a 93 Mariah 19' (Talari?), with the 5.0/Alpha One set up. Cosmetically clean, interior whole and not sun faded, slight rip in the stitching of one seam on the rear sun deck. Hull is clean and straight, some of the striping is starting to peel.
The owner is taking me out for a quick spin later today.

All in all this boat is in better condition than others I've looked at (Glastron, Sea Ray, etc). It's listed at $5800 firm.

Any input as to whether this price seems reasonable? I'm like anyone else, I'll pay fair value and don't want to get gouged.
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[Alpheus]

Re: Pending purchase - Feedback requested

I dont like when people say firm. Its like shopping at Carmax. 5800 for a 17 year old 19' boat seems a little steep to me. I bought a 94 Searay for 1000...

 

[a70eliminator]

Re: Pending purchase - Feedback requested

Sounds a bit overpriced for a 1993 unless it's absolutely immaculate and includes all the goodies convertible tops and mooring cover.

 

[gozierdt]

Re: Pending purchase - Feedback requested

I think it depends where in the country you are. In California where I am, that sounds like a pretty fair price, if the boat is in the good condition it sounds like. You need to make sure the floors and transom are sound, engine runs well, no sign of water in engine oil. You were getting a test ride, how did that go?

 

[KBHumphrey]

Re: Pending purchase - Feedback requested

I went out with him after work today. The 5.0 fired right up, had a lot of push through some small chop and idled evenly. Bottom wood pieces for all the seats show no rot, fabric staples are not rusted. The starter has some small flat spot where you can hear it kick out. The guy will replace the starter and include a 21 pitch prop along with the current 19; he thinks the RPMs are too high at full speed. All seats are whole except for a 6" split along one seam on the rear deck cushion; still good color on the fabrics, unlike a lot sun faded interiors.

Couple of pics are attached...

 

[paulspaddle]

Re: Pending purchase - Feedback requested

I saw that boat and talked to the Marine agent about it also.

I don't think $5800 is crazy high, I do however know that if that guy is an agent he is making a profit and what history does he have on it?

See if you can take to to be inspected by a marine mechanic.

Forget firm...nothing is firm....especially from an Agent.

 

[KBHumphrey]

Re: Pending purchase - Feedback requested

I saw that boat and talked to the Marine agent about it also.

I don't think $5800 is crazy high, I do however know that if that guy is an agent he is making a profit and what history does he have on it?

See if you can take to to be inspected by a marine mechanic.

Forget firm...nothing is firm....especially from an Agent.

So how do marine agents normally work? Is he selling this boat on consignment? Or will he actually hold title in his name? Where's my leverage point (ie: he doesn't want to have to store it, variable commission based on sale price, etc)

I haven't made an offer yet pending another boat I'm going to look at tomorrow. However his asking price is comparable to others in the size/year range for the Chicago/Milwaukee market.

 

[paulspaddle]

Re: Pending purchase - Feedback requested

So how do marine agents normally work? Is he selling this boat on consignment? Or will he actually hold title in his name? Where's my leverage point (ie: he doesn't want to have to store it, variable commission based on sale price, etc)

I haven't made an offer yet pending another boat I'm going to look at tomorrow. However his asking price is comparable to others in the size/year range for the Chicago/Milwaukee market.

Good questions for the Agent.

Hard to say what arrangement he has with the seller or if he has actually purchased it.

Basically he's a middleman taking a cut of the sale. His motivation would be to sell it for less than to not sell it.

Update how you decide to go.

 

[jmarty10]

Re: Pending purchase - Feedback requested

Its probably on consignment and hes an agent for the seller. I also conquer with paulspaddle, get a marine survey. Inspection of the motor, outdrive, electrical and hull. You will not be sorry

 

[captkevin]

Re: Pending purchase - Feedback requested

You definitely want someone to check out the floor, stringers & transom for rot on a boat that old. Price does seem high - especially at this time of year. Probably not a lot of buyers right now - if it checks out make a low offer & see what happens.

 

[Cannondale]

Re: Pending purchase - Feedback requested

Where's my leverage point?

I haven't made an offer yet pending another boat I'm going to look at tomorrow.

You answered your own question.....your leverage point is in your ability to walk away after you make an offer that you deem reasonable. The seller then either takes your offer, counteroffers, or hopes another potential buyer comes along.

 

[HollaGeo]

Re: Pending purchase - Feedback requested

I actually went ahead and bought a boat with no title. To get the title here in Jersey seems like it's going to be a "cluster f&#$". Supposedly, I have to go infront of a judge and present him with who the hell knows what kind of documentation. Anyway, it looks like it's going to be an exciting process.

 

[LippCJ7]

Re: Pending purchase - Feedback requested

You really do have all the leverage, its a buyers time in a buyers market and its with a broker/agent who wants to unload it before the winter. Take your time why should you be in a hurry, he says firm thats BS he's just trying to make you think you HAVE to have this boat. As for the price I can't answer that I don't live where you are and the Boat market is very different in each region, but it sounds like you have a pretty good idea what its worth in your area but don't forget to take into account that if thats the boat that trips your trigger then thats probably worth a bit also. Good luck bud!

 

[gozierdt]

Re: Pending purchase - Feedback requested

The pics you showed look very good. The fact that the upholstery is so good would show a boat that was protected from the weather most of the time. Can you get pictures of the motor and outdrive, or have you at least looked closely at them. A clean motor is another sign of a well-kept boat. And knock around the floors, transom, and stringers where you can get to them.

Don't be afraid of an older boat. I bought an '86 Sea Ray Seville 20' earlier this summer. It has been a trailer queen, never kept in the water, well-maintained, 320 hrs. It is sound throughout, and runs beautifully. Upholstery shows a little more wear than your boat. I paid just under $5K in my area, and think I got a good deal- for my area. I could probably get it a little cheaper now that the season is slowing down, but not much.

Get an in-the-water trial if at all possible!!

 

[spdracr39]

Re: Pending purchase - Feedback requested

Sounds like a reasonable deal but your not buying it to make money. Sit in it, put the family in it, see how it feels on the layout. Is there plenty of storage? Is the trailer in good shape? If it is comfortable for you? Will your vehicle pull it?Then get the mechanical checked out and make a deal. You can buy a really cheap nice older boat and it will last forever and you can buy an expensive newer boat that will break tomorrow. The price is not as important as the boat being something you want that is functional and you can be proud of because if its not you will always regret buying it.

 

[Gary H NC]

Re: Pending purchase - Feedback requested

If he is a Broker then there should be plenty of room to bargain.

I looked at a boat a broker had that was asking 4800 for.
I offered him half and said that was all i could go and left.
He called my cell about 10 minutes later and took the deal.

Not that this guy could sell it for half but that "firm" stuff is bull.

The average retail i looked up online for that boat was 4300...

 

[JoLin]

Re: Pending purchase - Feedback requested

You answered your own question.....your leverage point is in your ability to walk away after you make an offer that you deem reasonable. The seller then either takes your offer, counteroffers, or hopes another potential buyer comes along.

Exactly. I'm having a boat surveyed on Monday. I made the buyer an offer 6 weeks ago. He declined and I kept shopping. 3 weeks later he offered to meet me halfway. I declined and kept on shopping.

Last Saturday he called to ask if I was still interested in the boat. It's the one I've liked best since I started looking, but I decided up front what it was worth to me. That's what I offered and that's what I stuck to. First rule- there's always another boat out there

My .02

 

[KBHumphrey]

Re: Pending purchase - Feedback requested

I'm still keeping my options open and came across another potential candidate. the Wellcraft forum gets a little more traffic than the Mariah, but not enough that I got a reply on the below thread I posted there.
http://forums.iboats.com/showthread.php?t=445397

 

[paulspaddle]

Re: Pending purchase - Feedback requested

How was the broker with sharing information with you?

I was reluctant to say this as I have no qualification other than my gut, but he wasn't forthcoming with any information when I called him initially.

He was more interested in telling me random stories of who buys from him and the ONLY thing he said was, "real clean boat.", over and over.

Those are nice boats, but I wasn't keen on the seller to say the least. I would be extra careful rely on your own sources for assessment. For what its worth.

 

[lakegeorge]

Re: Pending purchase - Feedback requested

The normal commision on a boat is 10%

Don't be fooled by him saying it's firm, if you like the boat offer him 5k.