Selling boats: why is this?

[Cowboy Casey]

So, I am selling my 2013 Yamaha 242LS and have been talking to Mel @txav8r and he has kept asking me why I dont put it for sale on the site... Well that has been my delima...

Whenever I see a boat for sale everyone always say's there asking to much, why is that? If a boat costs 62000 dollars and a year later its worth 57000 why does every one want it for 42000 or whatever... the boat is actually worth it, is everyone just wanting a deal....

If you were to go buy a new boat today, it would cost you 62 or 63 out the door, so why wouldn't 57 or 56 be a great deal?

That is not even counting the 15000 I have into stereo, lights and equipment...

What does everyone think, am I of base?

Casey

 

[Lspeedss]

Market research. "What are like products going for". Loan approvals dictate a great part of this value I suppose.And what people are willing to pay. Ask what you want. You boat may have enough mods and in such great shape you deserve it. If someone is willing to pay.
I think we people on the board are trying to help advise people value so they can move it. If you are $6-$10k more than the market.it may never move. Just a helpful bunch..
Just saying.
Good luck.

 

[jcyamaharider]

Just my .02 cents....I think your boat is worth what someone will pay. While trying to sell one of my highly modified cars I was told, "mods don't count for actual value". There is a big deprecation factor when mods are involved and this has to be realized by the seller. In the end it is your decision wither or not you will sell it and you are the only person that has to be pleased. Everyone else is just secondary.

 

[Ronnie]

I think everyone is out for a good deal and many believe that they can always do better than the asking initial asking price and some won't buy it unless they at able to get a few more dollars off of the original price. That said, I usually look at the nada / blue book value and price accordingly. Getting people to pay more for the upgrades had usually been a losing proposition for me so I use them to justify the asking price. "You are getting a lot more for the price than the value assigned by nada/kbb" then remind them wha a new one costs and even raise current craigslist ads for a similar boat. If they still don't want to pay the asking price I'd say good luck in your continuing search. Don't be surprised thereby be guys ou there that won't seal the deal unless you fill the tank and / or deliver the boat. To them I say "not going to happen". A sea trial is a reasonable request but if you were not planning to be on the water anyway you may want to ask for a non refundable but purchase applicable deposit, something small like $50 or $100, this should help weed out the window shoppers.

 

[jdonalds]

It's simply based on what people will pay.

When I researched to buy our boat I saw boats priced above a certain level didn't sell. Those priced in a lower range did sell. If I liked a boat in the lower range I knew I'd have to move on it or it would be snatched up. Boats in that lower range were in good condition and available so why would I spend more.

All boats depreciate in price rapidly when purchased new, not just Yamaha jet boats.

I think another question here is how do boat manufacturers get away with making such huge profits on new boats.

 

[billyb]

Out of curiosity...are you unhappy with the boat?

 

[itsdgm]

IMHO anybody should feel free to list their boats and asking price. It always makes me cringe when guys post comments about how another members asking price is too high having never seen the boat. It puts the seller on the defense and sends an alarm to potential buyers. Maybe the boat is or isn't worth the asking price. That should be between the buyer and seller to decide. I would be pretty upset if I listed mine and then had to defend why I thought it was worth my asking price to guys who wernt even interested in buying it. If it's not worth the asking price, it won't sell. Eventually the seller will realize that.

 

[BoaterGuy]

Leftover 2013's are going for 47-50K on Ebay... Used boat purchases also carry higher interest rates, making them less affordable.

http://www.ebay.com/sch/i.html?_trk...+s&_nkw=2013+242+limited+s&_sacat=0&_from=R40

 

[jonw9]

If you go to a dealership, and the boat is listed new for $62,000, do you pull out the checkbook right then, or do you try to work out a nicer deal?

We all have an intrinsic value we place on things, with some emotional baggage involved. Hell, I have shelves full of crap in the garage that are gathering dust because I didn't/don't want to "give them away".

It really becomes a time/effort game. If you want the lowest time/effort, you will need the lowest price. If you have the time and energy, then you can spend it waiting for the right buyer to come along.

I was in a similar situation a couple years ago when i was selling my house. I ended up selling for almost $20,000 less than what I bought it for. But waiting would have cost more in the long run when I would have been shopping in a tighter market and higher rates.

 

[maboat]

If a boat costs 62000 dollars and a year later its worth 57000 why does every one want it for 42000 or whatever... the boat is actually worth it, is everyone just wanting a deal....

If you were to go buy a new boat today, it would cost you 62 or 63 out the door, so why wouldn't 57 or 56 be a great deal?

How are you determining that it "is actually worth it"? Worth is defined by how much someone will pay or how little you are willing to let it go. That is what its "worth".

$57k on a used boat that sells new for $62k is only a great deal for someone who absolutely wants that specific model and has $57k but can't afford $62k. That's a pretty small market to sell into. The likelyhood is if a buyer can afford a used $57k boat then he can probably afford a new $62k boat.

There is always a much bigger difference comparing used-to-new than comparing used-to-used, especially when they are only 1 year apart. The 1st year always has the most depreciation because most people will pay more for new unless the 1-year-old is significantly cheaper. Generally accepted business practices depreciate assets 33% in the first year which would put a $62k asset around $42k after the first year

EDIT: I don't mean to imply that YOUR boat is worth less. Its a gorgeous boat! I'm simply trying to answer your general question about prospective buyers wanting it for $42000.

 

[MOA_Chaser]

It's only worth what someone will pay... I sold my extra, "summer fun" car this week. It KBB'd at $6.5k. I had it for sale for over a month on all local facebook sites and Craigslist... ended up selling it for $4.2k. The interest wasn't nearly what I thought it would be. The market is what it is; the economy has a lot of people not wanting to spend money on non-necessities.

If I were selling a boat, though, I wouldn't hesitate to list it on whatever sites I could, regardless of what other people might offer. The more eyes, the better. What's the worst that can happen? Hurt feelings over a too-low offer? Besides, one of those "low" offers might look really inviting a few months from now... and you can always recontact the interested party and re-start negotiations.

 

[Lspeedss]

IMHO anybody should feel free to list their boats and asking price. It always makes me cringe when guys post comments about how another members asking price is too high having never seen the boat. It puts the seller on the defense and sends an alarm to potential buyers. Maybe the boat is or isn't worth the asking price. That should be between the buyer and seller to decide. I would be pretty upset if I listed mine and then had to defend why I thought it was worth my asking price to guys who wernt even interested in buying it. If it's not worth the asking price, it won't sell. Eventually the seller will realize that.

Nicely put. I agree thyat is discouraging. Maybe in the future price comments should be PMd to the poster to avoid the feeling of judgment as well as potential fodder for a potential buyer. What say you all?
Steve.

 

[JC6275]

I also think it's worth what someone will pay, just take into account the actual value of an item does not include initial purchase fees like taxes, freight, and dealer fees. On a 58,000 dollar item the taxes and fees can easily amount to over 5,000 dollars. and anything bought new takes a substantial depreciation hit in the first 0-18 months usually between 10 and 15%. As far as the mod investment, that thakes a much larger hit. If you are able to recoup 20 to 30% if mod cost you are doing good most people don't know the actual cost if miss and can't really appreciate the cost involved with them. Another thing is location and supply and demand that will drive the market. In the end it's your boat and you know what you have to have for it to be happy with the sale, all it takes is the rite person to see it and it will be gone. I do think listing it on this site would be a good idea the members here know about these boats and what goes in to modding them, I'm sure someone knows someone who is looking for a nice boat. And there us nothing better than free advertisement. Jmo

 

[billyb]

Nicely put. I agree thyat is discouraging. Maybe in the future price comments should be PMd to the poster to avoid the feeling of judgment as well as potential fodder for a potential buyer. What say you all?
Steve.

I agree. It's pretty ballsy to tell someone their price is too high if all you are going off of are 5 or so pictures on line.

All of us yamaha owners SHOULD want other used yamahas to sell as high as possible anyway...IMHO.

 

[txav8r]

@Cowboy Casey , you have a great boat there and a professional high end, high power stereo system. What do you have on the boat in hours? 5 to 10 hours maybe? I know your military service and civilian military support work took you away and kept you and your family from enjoying the boat, thank you for that service btw! Put it out there and be patient and be the helpful guy that you are. You can get a reasonable amount for the boat and the add ons are brand new and high quality, no reason not to expect a bigger percentage of return on that as well. It is true that a guy buying will have a higher interest rate than a new boat buyer, but whoever buys your boat at your sales price is getting a good deal on a virtually new boat, a deal that they could not duplicate, even with the difference in finance charge short term. Anyone that is financing a boat for 15 years and counting the dollars spent over that term vs another boat is reaching IMO. Because the dollars spent for a 15 year term on a boat far outweigh the value of the boat from year one to year 15. Boats are rated at smiles per gallon and are not an investment, they are a luxury. Get lots of pics of that BAD ASS stereo and boat, post them up, post the price, be willing to spend the time communicating with possible buyers, and set a price in your mind that you don't want to go below. You can pretty much eliminate the guys wanting to steal it, and the guy that just has to get 10% off. There is a buyer out there at every end of the spectrum. If there is value in what you offer, someone will see that. And when you advertise the boat, don't exclude jetboaters.net, we have Dr.'s, Lawyers, Engineers, Pilots, and jetboat enthusiasts from all walks of life. Some will be frugal, others won't, some want new, others want a deal, one size doesn't fit all, and you have a new boat there. Set a reasonable price for what you have. But we expect and hope for you to continue to contribute to this forum and share your experience and personality with us! Good luck on the sale!

 

[JC6275]

Nicely put. I agree thyat is discouraging. Maybe in the future price comments should be PMd to the poster to avoid the feeling of judgment as well as potential fodder for a potential buyer. What say you all?
Steve.

It may be a good idea to disable all comments on classified ads, maybe just make it a PM ONLY response thread?? Just a thought.

 

[maboat]

As far as listing on this site, I say Go For It! If you want to sell, then the more places its listed the better your chances of finding a buyer.

You may get some negative comments about the price, but you are also very likely to get positive comments about the boat. Overall, you are better to list it if you want to sell.

 

[Cowboy Casey]

Out of curiosity...are you unhappy with the boat?

I love these boats, this is my second... But when the family no longer wants to go out and wants a pool in the backyard you keep the family happy Isnt that why we bought boats in the first place...

I think everyone has brought up all the points I was making to myself... and thats why I love this forum.... So, I am going to go ahead and see what happens... here is to me not cringing..

 

[Cowboy Casey]

@Cowboy Casey , But we expect and hope for you to continue to contribute to this forum and share your experience and personality with us! Good luck on the sale!

@txav8r I will be staying around no matter what Mel, I am a lifer

 

[JC6275]

@Cowboy Casey , one thing to remember. If there are negative comments they will most likely come from those who are jealous and full of envy. Again JMO