Question:
how to understand used boat prices.
The 2005 Guide to Powerboats has a listing of used boat prices showing
Low Retail and Average Retail prices.
The online NADA Used Boat Prices shows retail prices which you can
customize by dialing in all the features and options on a given boat.
Here is where the problem comes in:
The boats for sale at brokers - in the brand and model I am looking to
purchase - are listed at around DOUBLE their official pricing on the
price rating lists.
¤ Is this due to a Poker style "bluff" of the sellers trying to push
people to make higher offers?
¤ Is it due to the brokers trying to swindle unexpected first time
buyers who don't know the market?
¤ Are the Price Guides totally off base when it comes to real market
prices?
I've heard that today we are in a "buyer's market". Is this a myth? Or
is it only true for certain boat models/sizes/ages? Is it normal to
find prices on 10-year old boats above their prices BRAND NEW in 1995
?!?
Basically, I'd like to make offers on boats which correspond to the
official pricing on professional lists. Do Brokers have an obligation
to communicate my offers to sellers? Can I write a seller a letter,
explaining my offer, and will it reach the seller? Or will the Broker
just put it in the shredder? Do I need to send it notarized and by
registered mail, just to make sure it reaches the seller?
Or should I hire a BUYER'S BROKER to defend my interest... and possibly
jump into the snake pit?
Answer:
Everything is negotiable. Everything. The boat's price, the brokers
commision, fees. The so-called official price guides are neither
authoritative or official. You decide what amount to offer. Typical
broker tactic is to dismiss your offer, attempting to shame you into
offering a higher amount. That broker (think "used car sales") is merely
following proven negotiating tactics. If you have not studiied
negotiating tactics then you may be at their mercy. If you really really
want that boat, they will smell that and play you for all they can get.
Be cool. Be willing to walk away. Know prices of boats IN YOUR AREA.
Snooty high-class marina areas tend to call for higher boat prices.
