Advice Wanted

[skolbe]

I have been helping my parents sell their 2002 - 290 Amberjack. It has been a frustrating experience. I have paid for an ad here, but posting a link to the boattrader ad. http://www.boattrader.com/listing/2002-Sea-Ray-290-Amberjack-617179

So most people interested in this boat are on a coast and we are in the middle of the US. The boat does not have the fishing package so it has that going against it. The shipping cost are a good percentage of the cost of the boat. The boat has been mechanically very well maintained and the bilge is very clean. Boat cabin is like new, cockpit carpet was pulled out the first month and looks new.

That being said we have had multiple offers on the boat. 39.5k has been the lowest my dad has been willing to go. We were 2k apart with one offer. Probably should have taken it. This is not a popular boat in the midwest. Any suggestions on what we could do to help sell it. My parents have reached a point in life where boating is no longer for them. They have owned 13 boats over the years.

I would appreciate feedback.

 

[Hifirush]

I’m no expert, and I’m not trying to be offensive. I was just on the other side of that equation, as the buyer. It is just as frustrating for a buyer sometimes, since boats in my price range tended to be on the coast. Shipping it is just part of the game, and the buyer has to take that into consideration. I did. It has been bittersweet.

That being said, its a numbers game. My family was in the realestate business when I was a kid. They always said the first legitimate offer is usually what the home was worth. Even if there was a few low ballers, and some tires kickers, you could get a feel of what the real value was. My mom would then talk to the homeowner about realistic pricing, otherwise she was just wasting her time.

This is also the case with boats. I approached several sellers who had nice boats that fit my criteria, but were a little too high. I made my offer. They declined or countered with a too high offer. I usually spoke with the broker who felt for me, but he represented the seller. But they would usually tell me that my offers were reasonable, and they owner was being over optimistic.

One broker I dealt with said he went to his seller, who had been trying to sell for 6 months and told him, lets get this boat down $15k. It did finally sell close to that price, but not to me. It needed a few too many things.

The thing I learned, having been on both sides in selling other things I’ve owned, homes, cars, businesses, etc., is that something is only worth what someone is willing to give you. That may not be what you want, or think it is worth. It looks like a great boat, really clean and nice, but price is what will her. Try looking at other models similar to yours and see what they are asking, but remember, they are asking, not selling for. Try to get yourself in a position where you are the least expensive one out there and that will make someone looking for this model more apt to call you.

I really wish you the best of luck with it.

Matt

 

[Southpaw II]

I was speaking with someone with Sea Ray back about 10 years ago. At the time, I owned a 1998 290DA. This guy in Knoxville told me that the Amberjacks were very popular in the Great Lakes. Since this boat doesn't have a generator to support A/C on the water, I would target that region. Looks like a great boat. Good Luck.

Don

 

[KnotEasy]

Amberjack's are very popular here in Michigan. Lower the price, take the closest offer, and call it good. Dad needs to re-consider his "lowest price" IF he really wants to sell the boat.

 

[dpmulvey]

Dads can be hard heads. Old Dads are worse. Take it from me, an old dad.

Some random thoughts from an old Dad.

Are there other 290AJs in 100 mile radius? If so, what are they going for? Take an average and tell your Dad what the competition is doing on like boats and boats with the fishing package. How long have those boats been on the market?

Without a trailer, you are kind of out of luck for anyone on the coast wanting to purchase and do their own transporting. People are demanding creature comforts in a boat. Does it have a gennie? Have you presented the total cost of ownership to him?

You were $2K apart on an offer. $2K is a slip fee here and I'm nowhere near the bay. I'll bet his insurance and slip fees are well over $2K.

Also consider that your Dad might not really want to sell it. He may want to, want to, sell it. That's entirely different than actually wanting to part with it. It may be a psychological thing that forces him to admit he is in the autumn of his life. For an old Dad, that's hard...DAMHIK!



My 2 cents.

--EDIT ADD-- I started and posted this prior to reading the KnotEasy's post. Interesting that we both see the same thing.

 

[islandhopper00]

First question I have is, does your dad really want to sell it?

If yes, quit fighting it, set the price at $35,000.00 and be done with it. Is 3-5k worth your heatache or sanity? I never understand why people fight over a couple of thousand dollars. UNLESS, your writing a check to sell it! The savings you see on the maintenance and slip fee you wont have to pay, will cover what you feel is lost on the sale.

 

[2000SR380]

First question I have is, does your dad really want to sell it?

If yes, quit fighting it, set the price at $35,000.00 and be done with it. Is 3-5k worth your heatache or sanity? I never understand why people fight over a couple of thousand dollars. UNLESS, your writing a check to sell it! The savings you see on the maintenance and slip fee you wont have to pay, will cover what you feel is lost on the sale.

Plus one on this! I have watched people sit on boats for years because they could not get what they felt the boat was worth. I once made an offer on a boat owned by a recently widowed woman. She was so insulted by my offer she did not even counter. After three years of the boat sitting in the slip without moving or maintenance, she finally sold it for about half what I had offered. That was three years of slip fee's, three years of insurance(maybe), and three years of taxes. If somebody is going to use the boat and keep it maintained while it is for sale, ten there is an argument to stick to your guns on pricing. For years in the down economy boat builders have been cutting back, scaling down and producing fewer new boats. There should be a time as the economy is beginning to recover that the new boat availability will not keep up with the demand, and good quality, well maintained used boats will increase in value.

 

[skolbe]

I think he is getting more comfortable with selling it. Some of it is just accepting that you are reaching a point in life where it is time to move on. He was being hard headed originally, I told him to take the 37.5. Now he is getting closer to selling it, he wants it gone now. We have had multiple offers at 32k which seems too low. I think he needs to drop to 39.5k and be prepared to take less. In regards to generator a lot of these boats do not have them in the Lake Michigan area. Thanks for the ideas.

 

[PMC]

I was 5K apart on a deal, and I thought the seller was out of his mind not to negotiate further. Having a buyer in a buyers market (which I feel we are in at the moment) is worth the 2K. In boating expenses, that really is not a lot of money (as I'm sure you know). Fast foward one year, the boat was still for sale, and eventually sold LESS than my original offer.


When I was selling I worked with the first offer presented. It was not my number, but within 2K....I closed that deal. was it hard, yes. The boat was fully provisioned for the season with a paid slip....but I wanted it sold to gain buying power on the next one.


In the end you have to detach all personal attachments and play the numbers game. Buyers always want the best deal. If the market is flooded with similar boats, they are going to go boat to boat till one hits.

Best of luck, I'd chalenge Dad to take the deal....unless he's really is not ready to part with the boat.

 

[CliffA]

i have been 'casually' looking at 30' cruisers the past couple years....there have been a few that warranted a much closer look.....a couple of the boats we found we were VERY serious about buying.....but, at the end of the day it all came down to what the 'loan value' for the boat was.....we were willing to pay a modest downpayment but the selling price the owner's wanted was just too much higher than the loan value that lenders were willing to give....this means we would have to come up with the difference in the loan value and the selling price and we were just not in a position to do that.....and no one wants to pay more for a boat than what it is worth (book value).....i understand that boats that are well maintained 'should' be worth more than others not in as good of condition but the lenders really don't consider the condition of the boat as far as loan values are concerned.....it is likely worth much more to your family than it is to the lending companies......some people are able to pay cash for a boat but they are few and far in between.....

if you really want to sell it find out what the loan value is and stay close to that price or lower.....it is likely that people that are interested in the boat are checking the loan value before they reply to the ad.....if the asking price is inline they will reply...if not they will pass on the boat....at least that is how i have handled my search....

cliff

 

[Woody]

I didn't research pricing but I think 39.5 is in the ball park for top of the line condition, sure you'll still have to dicker. The great lakes guys should be wanting this boat, ac doesn't make much difference. The wide beam and large fuel tank are desirable, they'll make this a fishing boat in nothing flat. Just a thought...I had a heck of a time selling my 200BR until I ran adds in local newspapers closer to better boating areas. I ran adds at Green Bay, Appleton, Milwaukee, and Madison, WI...my phone was ringing off the hook.

 

[magstang1]

I'm in the Great Lakes region and $40k for a post 2000 30' freshwater boat in that condition is a steal.

Advertise in the Detroit area. The market here is picking up and that is a prime boat for this area. Do the homework and have a quote for shipping in hand if you get a bite.

 

[fwebster]

Transporting that sized boat doesn't have to be a break the bank deal. If a buyer gets online and searches for quotes to transport the boat, he is usually talking to brokers who broker the hauling out to a tractor trailer rig. There are a number of smaller haulers who very easily move up to 340DA's with Dodger, Ford or GM 1-ton trucks and 3 or 4 axle aluminum trailers. The cost is usually about 1/2 of the larger haulers.

This boat should sell........so maybe the approach is to find an economical hauler and get him to quote loading, unloading than a per mile rate so you have that information when someone brings up relocating the boat.

 

[330DA]

One thing that I noticed is that there are no electronics/chartplotter. Buyers in my area of Lake Michigan want those things. The extra expense to install could shy buyers away.

 

[islandhopper00]

I've looked to buy a larger cruiser for 4 years now. I have money, but I'm not bailing someone out of their problems, to make them mine. After looking everywhere and dealing with folks that wouldn't get realistic about the value of their boats, I gave up trying to buy a newish cruiser.

I finally found a old 1978 Chris Craft Catalina 251, inboard boat. I got it for the right price, so I'm gonna fix that old boat up and be a two boat owner.......untill people accept the value of thier babies is not what they think it is, I'll have fun throwing money into a hole in the water!! haha

For comparison, I wish someone would buy my 2006 240da, clean as a whistle, and optioned as no other 240da out there. I have a windlass, and a custom extended swim platform, and many other neat add ons. I paid 70,000.00 for my boat in 06, still owe 50,000.00 on it (upside down) BUT, I am willing to write a check for the difference. Every boat I have looked at people owe way more than what they can sell for.....AND they can't write a check to cover the difference. I'm not taking a hit on my boat and their boat too!!!!
Now for the value, my boat is worth NADA easy! What will it sell for.....probably 30k with trailer! I hate that, but I get it. Will I sell it outright for 30k....no way. It's worth more to me in using it than losing 20k.

So. I'll be a two boat owner, it's more cost effective to have an old boat to leave in the water at a marina to use, and have the Sea Ray to take to the beach and do my yearly Bahamas trips.

 

[islandhopper00]

One thing that I noticed is that there are no electronics/chartplotter. Buyers in my area of Lake Michigan want those things. The extra expense to install could shy buyers away.

This is alittle away from boats, but I've been trying to sell my Kawasaki Teryx. Side by side 4x4 machine. I have put $3000.00 of extras on it. EVERY BUYER has told me they will not pay extra for add ons! WHAT! SO I keep that toy too!

I wanted to add, if I told the buyer I was going to remove the "extras" then sell at their price, they were not interested. Funny thing buyers right now.

 

[AFD]

Last year I sold my 170 signature for less than the new motor I had put in it. It had something like 6 hours on it...trailer had new tires, bearings, lights and wiring. Boat had new carpeting, New engine, gimble bearing, trim sensors, throttle and cables, stereo...you get it. Basically I wasn't going to winterize and try again so I bit the bullet and watched it go. Guy swung by last week saying he loves the boat and use it every week.

Essentially it's going to sell for what it's really worth. No genny might not be a big deal but some buyers will not even look at it, no fishing set up might not be a big deal but some buyers won't even look at it. It all comes down to finding that person that wants THAT boat.