Used boat price negotiation advice
Discussion
In the past, you could get a decent discount off used cars 9usually), but times have changed and very often the price is the price nowadays.
But whats the story with boats? I am looking at up to 60k for used boat, but what sort of price redcution is expected or achievable? Or is the price the price?
Thanks for any help, I have never bought a boat before!
But whats the story with boats? I am looking at up to 60k for used boat, but what sort of price redcution is expected or achievable? Or is the price the price?
Thanks for any help, I have never bought a boat before!
It depends......
What kind of boat, how long has it been for sale, dealer or private, what other options do you have, how desperate is the seller etc. ?
I'm selling mine after the summer due to moving and no longer being on a lake - I'll hopefully sell it locally - I have a price in mind, but is really driven by asking prices of others available. I'd take at least 10% less for the removal of hassle - like having to take it to a dealer to sell on a commission. Probably more for an agreed future date etc.
I'd start by figuring out your alternatives and establishing the sellers circumstances.
What kind of boat, how long has it been for sale, dealer or private, what other options do you have, how desperate is the seller etc. ?
I'm selling mine after the summer due to moving and no longer being on a lake - I'll hopefully sell it locally - I have a price in mind, but is really driven by asking prices of others available. I'd take at least 10% less for the removal of hassle - like having to take it to a dealer to sell on a commission. Probably more for an agreed future date etc.
I'd start by figuring out your alternatives and establishing the sellers circumstances.
Steviesam said:
I am looking at up to 60k for used boat
This isn't addressing the question you asked but all I would say is you can rent a lot of boat(s) within that kind of budget, plus mooring fees, plus maintenance costs, plus, plus, plus.If boating is your main pass-time none of this matters. On the other hand, if the boat is for "occasional use" the numbers can get pretty aggressive. Makes sports car ownership look remarkably good value!
Don't listen to them Sam! (:
If you keep an eye on boat prices on Yachtworld or Apolloduck you can significant discounts when a boat has been around for a while. So it does happen..
On my last boat purchase I benchmarked it vs other similar models and modified my offer accordingly with an explanation.
I think there is at least 10% to be had.
If you keep an eye on boat prices on Yachtworld or Apolloduck you can significant discounts when a boat has been around for a while. So it does happen..
On my last boat purchase I benchmarked it vs other similar models and modified my offer accordingly with an explanation.
I think there is at least 10% to be had.
I don't think there's a magic % any more than there is with cars or houses.
Some boats are priced high, some priced fair, some priced to sell quickly.
It comes down to what you are prepared to pay, at what point would you walk away and buy something else.
You need to know the market for that make/model/genre of boat.
The general practice with boats is that deals are done 'subject to survey'. A survey is done, then faults are either remedied or discounts negotiated.
It can be a long process. The best time to be making offers for this season's boat might have been October.
Inventory matters, you can spend £60k on a boat then need several £k worth of 'stuff', or it might be included. Tenders, outboards, safety kit may or may not be included.
It's worth talking to a few brokers and maybe a surveyor.
On a £60k boat, you need to be sure about the VAT status.
Some boats are priced high, some priced fair, some priced to sell quickly.
It comes down to what you are prepared to pay, at what point would you walk away and buy something else.
You need to know the market for that make/model/genre of boat.
The general practice with boats is that deals are done 'subject to survey'. A survey is done, then faults are either remedied or discounts negotiated.
It can be a long process. The best time to be making offers for this season's boat might have been October.
Inventory matters, you can spend £60k on a boat then need several £k worth of 'stuff', or it might be included. Tenders, outboards, safety kit may or may not be included.
It's worth talking to a few brokers and maybe a surveyor.
On a £60k boat, you need to be sure about the VAT status.
Break Out Another Thousand, to complete three corners of the boat ownership cliche bingo card, yuk yuk yuk yuk.
If you buy well, keep it maintained, don't overstretch yourself, and accept it is not an investment it will be a great experience.
As others have said, a broker is a good place to start. I found going to look at as many as possible really helped narrow it down. Talking to brokers/owners will also give you a good idea of what discount you can ask. E.g. the one I bought had a new inboard which was approaching the value of the boat, the three owners wanted the money they had shelled out back ASAP so we're happy to do a deal.
I would also consider there is not the same buyer pool size as a car, so whilst not turning down a bargain, you can usually stand back from the sale for a while if need be.
TLDR: 10-15% depending on what it is and circumstance.
If you buy well, keep it maintained, don't overstretch yourself, and accept it is not an investment it will be a great experience.
As others have said, a broker is a good place to start. I found going to look at as many as possible really helped narrow it down. Talking to brokers/owners will also give you a good idea of what discount you can ask. E.g. the one I bought had a new inboard which was approaching the value of the boat, the three owners wanted the money they had shelled out back ASAP so we're happy to do a deal.
I would also consider there is not the same buyer pool size as a car, so whilst not turning down a bargain, you can usually stand back from the sale for a while if need be.
TLDR: 10-15% depending on what it is and circumstance.
Thanks all.
Re boating not being cheap if you don't use it, but certainly for at least 18 months we will be living on it!
We are moving to Spain and the plan is to buy the boat and live on it until we find the perfect area and house. We will be keeping the boat after we buy a house.
I have found berth in a marina, 3k per year if paid upfront that includes water, electricity and internet, with nice facilities, so much cheaper than renting a house. Next step is a trip to visit brokers and have a good look at what right for us, hence the thread regarding prices.
Cheers
Re boating not being cheap if you don't use it, but certainly for at least 18 months we will be living on it!
We are moving to Spain and the plan is to buy the boat and live on it until we find the perfect area and house. We will be keeping the boat after we buy a house.
I have found berth in a marina, 3k per year if paid upfront that includes water, electricity and internet, with nice facilities, so much cheaper than renting a house. Next step is a trip to visit brokers and have a good look at what right for us, hence the thread regarding prices.
Cheers
OutInTheShed said:
I don't think there's a magic % any more than there is with cars or houses.
Some boats are priced high, some priced fair, some priced to sell quickly.
It comes down to what you are prepared to pay, at what point would you walk away and buy something else.
You need to know the market for that make/model/genre of boat.
The general practice with boats is that deals are done 'subject to survey'. A survey is done, then faults are either remedied or discounts negotiated.
It can be a long process. The best time to be making offers for this season's boat might have been October.
Inventory matters, you can spend £60k on a boat then need several £k worth of 'stuff', or it might be included. Tenders, outboards, safety kit may or may not be included.
It's worth talking to a few brokers and maybe a surveyor.
On a £60k boat, you need to be sure about the VAT status.
Very well put... I couldn't have put it better myself. I am a broker and usually have about 100-150 boats for sale across the UK, Europe and further afield, ranging from six to eight figures. Every deal is different and in the past weeks I have sold boats for well under asking price to well over asking price (yes, it does happen!). Generally speaking, if we have free reign from the owner to price a boat, we will aim to make it as competitive as possible. We do not 'engineer in a 10% margin' as many people think. When your listing sits alongside hundreds of others on platforms such as Yachtworld, you need to have the best boat at the lowest price.Some boats are priced high, some priced fair, some priced to sell quickly.
It comes down to what you are prepared to pay, at what point would you walk away and buy something else.
You need to know the market for that make/model/genre of boat.
The general practice with boats is that deals are done 'subject to survey'. A survey is done, then faults are either remedied or discounts negotiated.
It can be a long process. The best time to be making offers for this season's boat might have been October.
Inventory matters, you can spend £60k on a boat then need several £k worth of 'stuff', or it might be included. Tenders, outboards, safety kit may or may not be included.
It's worth talking to a few brokers and maybe a surveyor.
On a £60k boat, you need to be sure about the VAT status.
As for time of year, we are approaching a point where the owners of 'keenly for sale' boats might now be planning ahead to the season, so there may be less in the way of super deals as perhaps during the depths of winter.
I guess first and foremost, you need to make sure that you somewhere to keep the boat. Finding a berth in your preferred location isn't always a given. Some of the central South coast marinas have waiting lists extending beyond 2yrs for certain types of berth. Even though the market has cooled considerably since the COVID peak, owners still need to keep their boats somewhere and with Brexit generally keeping UK-based stock in the UK (due to the separation of VAT jurisdictions), the marinas are all still pretty full.
Good luck. Boat ownership is very rewarding. I have personally owned many boats of different types and sizes and my costs are no different to anyone else's. It's certainly not a cheap hobby, but it can create some fantastic memories. For me this includes racing across the Atlantic through to chilling out with the family in some great Solent anchorages.
Another broker here... Just repeating what others have said, there is no magic % to aim for. Every boat/ sellers needs are different. You never know who's getting divorced, just won the lottery, got school fees to pay.
Best to buy on condition not price. The cheaper boat is rarely the cheapest in the long run.
If it were me I would rent an apartment for the 18 months, living on a boat is a big compromise and you will probably end up choosing a boat thats better for living on than boating on, so in 18 months you'll have a boat that isnt suitable for your new needs.
I suspect the above will be cheaper too.
Best to buy on condition not price. The cheaper boat is rarely the cheapest in the long run.
If it were me I would rent an apartment for the 18 months, living on a boat is a big compromise and you will probably end up choosing a boat thats better for living on than boating on, so in 18 months you'll have a boat that isnt suitable for your new needs.
I suspect the above will be cheaper too.
Well at least we've got all the usual tedious boring cliches out of the woodwork.
Moving on, if you're happy you've got all the items in your list - boat, marina, insurance, running costs etc - just see what you can do in negotiation, like anything else. Whether buying direct from the seller or through a broker, make an offer. The seller will either accept, or not, or meet in the middle.
Moving on, if you're happy you've got all the items in your list - boat, marina, insurance, running costs etc - just see what you can do in negotiation, like anything else. Whether buying direct from the seller or through a broker, make an offer. The seller will either accept, or not, or meet in the middle.
I've just bought a boat, so I can give you the view from the buyers side in the UK. Mine is a 33ft yacht in the £30k value range - think 2000's BenJenBav type thing.
A couple of things to bear in mind.
1. Time of year.
Marina/mooring fees typically run 1 April - 30 Mar. So right now you have 2 types of sellers, those that will just put it back in the water and use for another season or those that are going to be unhappy about another year of fees. That second group will be more keen to sell.
The main selling season seems to be Oct/Nov when the boats are (typically) pulled from the water to overwinter on the hard. Thats when most Brokers will have their open day etc.
2. Maintenance
That boat at £30k with poor maintenance is not the same value as the £40k one with a good maintenance. For example, standing rigging at £3k (every 10 years), saildrive diaphragm at £1500 (every 7 years) and a new set of sails at £7000 means the £30k one is potentially overpriced.
On the East Coast, not a great deal is selling, according to the broker I used. Boats are discretionary, expensive, lifestyle purchases and have taken a hit. Specifically in that middle price bracket of £20k - £100k. Boats went up in value during COVID and have taken a long while to come back down. There's also a lot of very old boats hanging around at unrealistic prices.
I managed an accepted offer 12% under, on a yacht advertised since Oct 2024. Paid £500 to have it hauled out £500 for a survey which then found another 8% of the yacht value in further maintenance, required. So I got 20% off.
A couple of things to bear in mind.
1. Time of year.
Marina/mooring fees typically run 1 April - 30 Mar. So right now you have 2 types of sellers, those that will just put it back in the water and use for another season or those that are going to be unhappy about another year of fees. That second group will be more keen to sell.
The main selling season seems to be Oct/Nov when the boats are (typically) pulled from the water to overwinter on the hard. Thats when most Brokers will have their open day etc.
2. Maintenance
That boat at £30k with poor maintenance is not the same value as the £40k one with a good maintenance. For example, standing rigging at £3k (every 10 years), saildrive diaphragm at £1500 (every 7 years) and a new set of sails at £7000 means the £30k one is potentially overpriced.
On the East Coast, not a great deal is selling, according to the broker I used. Boats are discretionary, expensive, lifestyle purchases and have taken a hit. Specifically in that middle price bracket of £20k - £100k. Boats went up in value during COVID and have taken a long while to come back down. There's also a lot of very old boats hanging around at unrealistic prices.
I managed an accepted offer 12% under, on a yacht advertised since Oct 2024. Paid £500 to have it hauled out £500 for a survey which then found another 8% of the yacht value in further maintenance, required. So I got 20% off.
Similar thoughts to above. Buy on condition not price. We bought a sports cruiser last year. Looked at a lot under £80k. Lots of issues we could identify with most of them and we are not experts. Thought we had found the one, looked immaculate and well maintained. Paid for it to be surveyed. One engine had a rusting sump. Engine out job. The engineer who inspected it thought it might be possible to get the engine out without cutting the cockpit flooring. Minimum of £5 k fix, assumingno cuttingto get engineout then repairingonce the engine back in. Boat out of water, surveyor inspects it and its got osmosis. That would have been a £25k fix.
Bought the same model that was confirmed nearly perfect at survey, some minor issues which the seller fixed as part of the deal. No other movement on the price available but it was the best we saw. We could have carried on looking but even if we had found another boat in good condition it would still cost to lift out, survey, put back in the water to find out. That's > £1000
I may have misread your post, but don't buy a boat in the UK and try to import into Europe. Brexit put an end to that being done easily
Bought the same model that was confirmed nearly perfect at survey, some minor issues which the seller fixed as part of the deal. No other movement on the price available but it was the best we saw. We could have carried on looking but even if we had found another boat in good condition it would still cost to lift out, survey, put back in the water to find out. That's > £1000
I may have misread your post, but don't buy a boat in the UK and try to import into Europe. Brexit put an end to that being done easily
Neil1300r said:
Boat out of water, surveyor inspects it and its got osmosis. That would have been a £25k fix.
£25K? How big is this boat?AFAIK pretty much every GRP boat has or gets osmosis, and it's never sunk a boat yet. That said I had my boat re-Coppercoated last year so they ground and filled the blisters while they had the chance. 27' cruiser, sandblast off old Coppercoat, fix osmosis and apply new Coppercoat, about £3K.
But overall I agree - pay more and get a better boat. After you've seen a dozen you'll know what's good and what isn't and what to look for.
Audis5b9 said:
Another broker here... Just repeating what others have said, there is no magic % to aim for. Every boat/ sellers needs are different. You never know who's getting divorced, just won the lottery, got school fees to pay.
Best to buy on condition not price. The cheaper boat is rarely the cheapest in the long run.
If it were me I would rent an apartment for the 18 months, living on a boat is a big compromise and you will probably end up choosing a boat thats better for living on than boating on, so in 18 months you'll have a boat that isnt suitable for your new needs.
I suspect the above will be cheaper too.
A couple of points to add to that. First is that living on a boat in the late spring, summer and early autumn is fun. Living on a boat over winter is not fun, It's normally fBest to buy on condition not price. The cheaper boat is rarely the cheapest in the long run.
If it were me I would rent an apartment for the 18 months, living on a boat is a big compromise and you will probably end up choosing a boat thats better for living on than boating on, so in 18 months you'll have a boat that isnt suitable for your new needs.
I suspect the above will be cheaper too.
king freezing and it's always damp. Even if you have heating. It's amazing how fast they go from being toasty to fking freezing. Second, check that the marina allows you to live aboard 365 days a year. Some don't.Thanks all for the ideas and advice.
Regarding staying on the boat instead of renting, I guess it just doesnt sit well with me to pay 20k out on rent, when i can stay on the boat that I am buying anyway. In my man maths mind, its "paying" for 1/3 of the boat.
We will be in Southern Spain so I think the short winter will be bearable, and if there was a horrible freezing snap we could just go to an Airbnb for a week or 2. I am pretty confident that the boat we get will cover both the living on it initially and then the use afterwards. We are happy to have compromised living for 18 months (we have lived in a small caravan before, years ago, waiting for our house and we both quite liked it). At least the boat will have nice outside space and a beach etc very close to it.
Boat will absolutely be pulled out and surveyed-I dont yet know enough about them to be confident about the condition to do it myself. Servicing etc I am good with though, so I will be doing as much of that myself as is possible.
I really appreciate all the replies and help, cheers guys!
Regarding staying on the boat instead of renting, I guess it just doesnt sit well with me to pay 20k out on rent, when i can stay on the boat that I am buying anyway. In my man maths mind, its "paying" for 1/3 of the boat.
We will be in Southern Spain so I think the short winter will be bearable, and if there was a horrible freezing snap we could just go to an Airbnb for a week or 2. I am pretty confident that the boat we get will cover both the living on it initially and then the use afterwards. We are happy to have compromised living for 18 months (we have lived in a small caravan before, years ago, waiting for our house and we both quite liked it). At least the boat will have nice outside space and a beach etc very close to it.
Boat will absolutely be pulled out and surveyed-I dont yet know enough about them to be confident about the condition to do it myself. Servicing etc I am good with though, so I will be doing as much of that myself as is possible.
I really appreciate all the replies and help, cheers guys!
Riff Raff said:
A couple of points to add to that. First is that living on a boat in the late spring, summer and early autumn is fun. Living on a boat over winter is not fun, It's normally fking freezing and it's always damp. Even if you have heating. It's amazing how fast they go from being toasty to fking freezing.
It will be in Spain, so the problem might be lack of aircon! I was on a boat on the Thames when it reached 40C and it wasn't much fun, especially in the galley. It's easier to warm up than cool down.king freezing and it's always damp. Even if you have heating. It's amazing how fast they go from being toasty to fking freezing.Gassing Station | Boats, Planes & Trains | Top of Page | What's New | My Stuff