Used boat offer

There is no standard percentage. More relevant is seller motivation. An owner selling because he has finished cruising and can scratch owning a boat from his bucket list might have more motivation on selling price than an owner who is looking to buy a bigger boat and needs the boatbucs to help buy the new one. Ask the broker why the owner is selling? Have you asked the broker if there have been other offers? Does the broker know what the owner will take? Don't be shy on asking questions - you're entitled to honest answers!

Judy

Judy as a broker would be the expert in such matters, but I did exactly what she has suggested when I bought a 44 Viking MY in 2018. I had a long conversation with the selling broker and asked the same questions that Judy recommended. The broker was very honest in his answers and did give me some input on the offer, but went further and as it was at the end of the season suggested seller might include winter storage. I was able to use that consideration and made an offer which was accepted. Getting to know the seller later I was able to confirm the accuracy of the brokers answers. I would think any good selling broker would do the same to help get the deal done. Especially right now.

Everything depends on your motivation. Do you LOVE the boat or do you follow the philosophy of 'there's another one I'll love at the next marina'? When I buy things I'm never shy about making an insulting offer or walking away. My goal though is to leave everyone content. You should consider the market and the timing though. In 2009 you couldn't give a boat away. But in 2006 they couldn't make boats fast enough. We're currently in a very tenuous time. 14.7% unemployment, businesses closed and who knows where the stock market will be going. That puts you in a better bargaining position. But maybe waiting a short while till things get more stable might be even better. If things get worse prices get lower. Of course this time of year is the worst for a buyer, cause this is when everyone wants to get on the water. So bottom line consider the influencing factors and make an offer you're comfortable at, leaving room for compromise. Like with any buying, the worst anyone will do is say no.

That why I wrote: "maybe waiting a short while till things get more stable might be even better. If things get worse prices get lower. Of course this time of year is the worst for a buyer, cause this is when everyone wants to get on the water. " Even by July 4th the seasonal rush will have slowed, and you'll have a better handle on what the economy is doing. All other factors ignored the fall, just before boaters spend for winter storage, is the best time for buyers.

With a purchase as big as a boat you should't rush, especially when the buyer's market may get a whole lot better soon and will definitely be better in the fall / winter. Take your time and do your homework. There's a lot of Tiara's around. Good luck. BTW, just in case you haven't looked into dockage yet it could be hard to find right now, but like boat prices that may also be changing soon.

Hi team, first post but stoked I found this forum. I'm in the process of purchasing, same as Tom. How is the US market looking at the moment? The boat that I'm looking at is in Fl and there seem to be a ton on the market. Are people still purchasing or holding off? Will the approaching winter effect sales?

I think you'll find as many opinions as there are responders. It also depends on category of boat and location. Manufacturing slowed sales through the spring when assembly lines stopped due to Covid 19. Middle-class Americans bought a ton of smaller boats this summer when they saw boating as a way to get the family out of the house with lesser risk and their vacation budgets were unspent. The rich seem unaffected so the mega-yacht market is rolling along except for assembly line delays due to Covid. Then there's the segment of the market (around 100') dealing with the emission regs. Then there's the big wild card of what will happen with the virus this winter. My personal opinion is that the smaller boat market is on the verge of collapse as lower and middle-class bank accounts get drained from lost jobs and small business closures and that will work it's way up into the 40'-60' market.

Offer slightly below where YOU would be happy owning the boat and put the number in with a little upward room. Don't try to second guess everyone else. It'll drive you nuts. And ask on these pages you'll get 12 opinions from 10 people.

When I saw our boat I said: "I'll take it." as it was what I wanted and I thought the price was more than reasonable.

Thanks. We're not talking big money here as its my first twin diesel boat moving up from a WA. It was advertised at 55k, inspected and offered 41.5k, deal at 45k. Waiting on an engine report. Seems there was some motivation to sell before winter after it stayed on for the summer. The broker did note there was a lot of activity but this is a 33' Sport Fisher and that particular market seems slow.

Congratulations on the accepted offer HGR. 20% savings is good negotiating. Hope the engine survey comes back good. Best of luck.
Wonder how the OP made out. I suspect the market in New England has been tight. If he hasn't made a deal yet or put his search on hold this could be a very good time to jump back in. With owners about to pay for winter storage and great uncertainty about the U.S. economy I suspect there are some motivated sellers up there right now and in coming months. Tom, I hope you'll keep us updated.

HGR, congrats on your offer being accepted. I hope you engine survey is good and you enjoy the boat for a lot of years.