Go Back   Cruiser Log World Cruising & Sailing Forums > Regional Cruising > Pacific & Australasia > Regional Discussion Topics
Cruiser Wiki Click Here to Login

Join Cruiser Log Today

Reply
 
Thread Tools Search this Thread Display Modes
 
Old 04-23-2010, 06:09 AM   #1
Ensign
 
Join Date: Apr 2010
Posts: 16
Default

Hi Folks,

Im in the market for a second hand yacht on East Coast Australia. I'm no stranger to negotiating to buy property or cars, but have never had to negotiate a yacht before. Many of the vessels I find myself looking at tend to fall under the "custom" category more than the Beneteau/Hunters/Jenneau production boats.

Im happy to pay a fair price but don't want to get taken for more than the vessel is worth. I'm well aware the buying price is generally inflated significantly from most owners expectations - my question is, as a general rule how much below asking price (in percent terms) do you start without being ridiculous on a six figure asking price?

Having seen some boats prices re-listed at nearly half the original asking price recently, is a 50% offer reasonable or would the broker tell me to f*off and sour relations? (Im talking about a boat thats pretty much ready to go with cosmetic work only required - im assuming major repairs would need to be negotiated following a survey and quotes).

Also, are sea trials and surveys generally done before or after price negotiations in Australia?

Cheers!
__________________

__________________
Reaper is offline   Reply With Quote
Old 04-23-2010, 12:25 PM   #2
Admiral
 
JeanneP's Avatar
 
Join Date: Jul 2004
Posts: 2,098
Default

I think that it's harder to establish a fair price for a boat compared to a house or car, but here are a few tips, using some of the same ideas as for houses and cars, with a twist. I'm no expert, but here are some of the issues from our search, and from our friends' sales.

First, because you are in Australia, the origin and owner of the boat can be an important clue. For a foreigner owning the boat and who will be leaving Australia, look to the price of comparable boats in their home country. Not necessarily the same boat, considering one-offs, but size, age, hull material, and importantly, who designed the boat and who built it. Home built boats, no matter how much you love it, should go for a lower price than one from an established yard.

How much would it cost to repatriate the boat? Deduct that from the asking price and see what they say.

Designer - established reputation, higher price than an unknown.

Yard - same

How old are the electronics? Generally, here in the States we're told to discount their value since most people would want to put in their own.

There are so many websites for boats for sale, with multiple search criteria, you should be able to find lots of comparable boats to look at.

If you really like a boat, you can ask for a sea trial before making a final offer, but the broker will guide you a bit on this.

Survey is for after the offer to purchase is accepted and signed, with a contingent to survey clause in it. You might want to interview the surveyors to find out how familiar they are with the particular make of boat he will be surveying. The survey should point out any problems (osmosis, damage, etc.) and provide an estimated fair market value for the boat. If it's lower than your offer price, there are usually further negotiations. If it's higher, you can pat yourself on the back.

Maybe Canukiwis will check in and give you more ideas since they have recently gone through the exercise themselves.

Good luck.

Jeanne
__________________

__________________
In 1986 we went cruising for a few years. After 20 years and 50+ countries and several oceans, we are STILL "cruising for a few years".

SY WATERMELON |
MV WATERMELON (New) | Cruiser's Dictionary, free ebook

= Cruiser's Dictionary, North America,
JeanneP is offline   Reply With Quote
Old 04-24-2010, 04:46 AM   #3
Ensign
 
Join Date: Apr 2010
Posts: 16
Default

Thanks Jeanne! Good tips.
__________________
Reaper is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Tips For Buying A 2Nd Hand Boat? topi General Cruising Forum 2 07-02-2010 08:42 PM
Hand Bearing Compass mygoggie Cruiser's Market 0 06-12-2009 07:30 PM
Digiselect Hand-held Maritime Dsc Terminal Kim608 The Poop Deck 0 03-01-2008 01:49 PM
Gps - Hand Held michiganbill General Cruising Forum 4 07-27-2007 12:02 AM
Red Sea piracy attack - first-hand report. imported_admin Regional Discussion Topics 4 03-16-2005 11:24 AM

Our Communities

Our communities encompass many different hobbies and interests, but each one is built on friendly, intelligent membership.

» More about our Communities

Automotive Communities

Our Automotive communities encompass many different makes and models. From U.S. domestics to European Saloons.

» More about our Automotive Communities

RV & Travel Trailer Communities

Our RV & Travel Trailer sites encompasses virtually all types of Recreational Vehicles, from brand-specific to general RV communities.

» More about our RV Communities

Marine Communities

Our Marine websites focus on Cruising and Sailing Vessels, including forums and the largest cruising Wiki project on the web today.

» More about our Marine Communities


All times are GMT. The time now is 06:35 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.0
×