One Day You Will Be A Seller

Time to state the obvious. Almost every buyer for a house, boat, plane or large capital purchase has had and will have the upper hand for some time to come. Deals are incredible and abundant in all asset classes. In our world we push to drive sellers to the lowest prices so buyers can see the opportunity right in front of them increasing our chances of capturing the one or two buyers that may be shopping. Bottom line is 2012 will likely continue to be a better market for buyers then sellers.

That said buyers who are purchasing brokerage boats at times should look at the transaction from the perspective of the seller as one day you will be on the opposite side of the transaction. In a few cases this year we’ve sold the boat to a buyer only to have the boat back in 6 or 9 months as the buyer decided to move on to something else.

After contracting the boat at probably a price 20 to 30% below market and in some cases even more, a survey is done and report is issued. Please as a buyer keep the perspective that you are not buying a brand new boat. The 2006, 2007, or 2008 boat you are buying for $105,000 is selling new for $334,000 at the boat show which is why you decided to stick to pre-owned. The items of essential repair at a survey are typically not ones that a seller will have issue with and a repair or credit for the repairs can most times be worked thru. It’s the demand for latches, zipper fixes, coffee pots, and non-essential items that can lead to a deal going bad.

While I can already hear the buyers words “hey that’s what I want or I’ll go onto another boat” just keep a slight bit of perspective that 1,2 or 3 years down the road you may be on the selling side. It’s not a new boat but a boat you paid a great price for and deserve good karma to go along with it.

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