Buyers and Sellers..here is a price point for you - The Hull Truth

UNLEASHED! · 01-24-2009, 08:34 AM

Well, my search is finally complete. I found the deal I couldn't refuse. There is a lot of talk on threads about prices, expectations, what's it worth etc. Here is a price point for you on the boat I found. *The guy I found it through was very helpful and upfront...a refreshing class act.

2003 34' Fountain
Triple 225 DTS Optis 535 hours
Triple Axle Myco Trailer
Nice suite of Northstar 6000i Electronics

Rupp Top Gun outriggers*

3 amps, 6 speaker, 2 subwoofer stereo system
Cell phone and amp booster
360 gallon fuel option
Not perfect but very good condition.
Shiny clean gelcoat.

$55,000

I will try and get a picture posted up as well.*

For the sellers:

If you really want to sell it, price it as such. *Believe it or not it is a buyer's market no matter what brand of boat you have.

Most brokers are not doing you any favors. *You are the best seller of your boat. Save your money and do it yourself. The deal with Anglers Edge can't be beat.

For the buyers:

Get the specifics you need, make an offer, and be prepared to move on.

Brokers certainly aren't doing you any favors.

*

Unless you have excellent credit, you are going to end up paying cash. *Even with excellent credit, expect to pay 20% down and provide a lot of proof and documentation. *The days of NINJA (No Income, No Job, no Assets) loans are over.

*

Good luck to all.*

*

bamaboy473 · 01-24-2009, 09:16 AM

Sounds like a great boat at a great price. Two references to "no brokers" must have a story behind it, though. Would you say that it probably comes down to how much time a person has to invest in searching? If a guy has the time, then he can do more than most brokers, but if a guy just can't be bothered, then wouldn't a broker be his best option for finding something that meets his needs?

Just a guess here, but in my limited dealings with brokers on boats under 30', it's like dealing with lawyers; not much comfort in 80% of them. I'd guess that a broker's value increases as the size of boat does. Any thoughts on that?

BiloxiGuy · 01-24-2009, 09:42 AM

Rare deal of the century even in this market! Not so sure that's where the prices should be, you got lucky...Now, go buy those 300XS's from Propbender24!

VAC · 01-24-2009, 02:21 PM

Bamaboy.... right on.

Monarchy · 01-24-2009, 02:26 PM

"Rare deal of the century even in this market! Not so sure that's where the prices should be, you got lucky"

LMAO...there is always one thing you can always count on from people with a boat to sell

Great ride, Trevin....I'll be calling you next week for your broker so I can start looking at all those rare deals of the century

MakoMyDay · 01-24-2009, 03:04 PM

Wow---great find on a great boat. Is this the one in FL that was listed at 70k about a month ago? Blue hullsides? I was tempted to buy it at 70k, if I had seen it at 55, it would have been a done deal. I'm happy for you. You knew what you wanted, waited it out, and got it. Congrats

BiloxiGuy · 01-24-2009, 09:09 PM

Quote:

Monarchy - 1/24/2009 3:26 PM

"Rare deal of the century even in this market! Not so sure that's where the prices should be, you got lucky"

LMAO...there is always one thing you can always count on from people with a boat to sell

So, what exactly are you trying to say? He got lucky enough to find someone that was desperate enough to lose their @ss on their boat, and you think the entire market should be like that. I'm sorry, the fact that he even posted what he paid for this boat is a shame. All he did was screw over every other person trying to sell a boat relative to what he just bought. Not exactly helping out the market that we are in...But you're right, keep on laughing your @ss off.

KeyPineSavage · 01-24-2009, 09:33 PM

BiloxiGuy

Not expressing any opinion on Fountain prices, since I'm not up on 'em (tho even I know this one is cheap.) But about your idea that he shouldn't even post the price, I gotta disagree. I feel your pain, as a seller (and me, I'm definitely NOT laughing MY ass off,) but one thing that comes out several times in the long "No Luck Selling Boat..." thread now going on in the Boats for Sale Forum is that many people would like to see MORE buyers or sellers post the actual prices being paid on current deals.

Might help everyone get a more realistic idea of the REAL market today, as opposed to NADA, brokers' asking prices, other asking prices, rumor, etc. Asking prices, no matter whose they are, are NOT the market, they are just fluff. The market is what's being paid today. Whether the OP's deal is where the market really is for this boat, or just as you seem to think, a one-shot deal by a desperate seller, who knows? I don't, but if we had a dozen or so recent real prices for similar Fountains, we'd have a better idea.

Shady Business · 01-24-2009, 09:45 PM

Wow thats a great deal! I just got my new boat today and I got a very good deal as well but not that good. Congrats.

ABoater · 01-25-2009, 12:57 AM

Thanks for posting FACTS about a sale/purchase. Congrats!

If some folks take offense to you posting your personal experience, it's their own problem. Too much speculation, rumors and guess-timaters around here...

Some folks are in denial about their financial situation and don't want to realize their losses.

Well, get over it.

Boats are depreciating assets. Now more than ever.

Bite the bullet, lower the price and you too can put "SOLD" in the subject line of your "For Sale" ad...

Boats are selling right now. There are buyers with cash in hand.

Lower the price, sell it, lick your wounds and get on with your lives...

triguy7 · 01-25-2009, 04:09 AM

I think you got a great deal and I like the fact that you shared your price.

Last week I got a good deal (I think) on a 2004 Pursuit 3070
Blue hull, hard top, generator, air/heat, electronics, 300 hpdi's - 387 hrs, all the bells and whistles in near mint condition for 55k. Previous owner paid 166k 4 yrs ago.

Thanks for posting real numbers.

armauro · 01-25-2009, 04:18 AM

I just closed and took delivery on a 2006 GW 282 Sailfish with 17 hours- seller was a true gentleman through the whole deal and coming from Michigan he understood the weakness in the present dismal economy. I think I got a great deal at $72K and so does the seller.

MAGNUS · 01-25-2009, 04:24 AM

Quote:

BiloxiGuy - 1/24/2009 8:09 PM

Quote:

Monarchy - 1/24/2009 3:26 PM

"Rare deal of the century even in this market! Not so sure that's where the prices should be, you got lucky"

LMAO...there is always one thing you can always count on from people with a boat to sell

So, what exactly are you trying to say? He got lucky enough to find someone that was desperate enough to lose their @ss on their boat, and you think the entire market should be like that. I'm sorry, the fact that he even posted what he paid for this boat is a shame. All he did was screw over every other person trying to sell a boat relative to what he just bought. Not exactly helping out the market that we are in...But you're right, keep on laughing your @ss off.

I'm glad he posted the price. If more people did, more boats would sell. Sounds like a sweet deal.

Mako211cc · 01-25-2009, 05:19 AM

Some interesting comments that are hitting the nail on the head.

I am a cash buyer also, looking for a boat in the 28 to 30 foot, $ 100K range. My experience with brokers has not been all that positive so far. I do my own searching via Boattrader.com, Yachtworld.com etc. Brokers sometimes get back to me quickly and other times it could be over a week. I would think the brokers would be hungry for a sale, but who knows. Recently I received an email response to my inquiry and I asked the broker to give me call. That was December 19th and I am still waiting on that call. If I was the seller, I would be damn pissed.

I sold my boat within a week of it being listed because it was listed at a fair price. My thoughts were I was going to take a hit on the sale, but I am moving up and expect to purchase a boat at a fair (for today’s market) price and more than recoup my loss. I listed my boat on Craig’s and it cost me nothing to list. Anglers Edge would have been my next step.

My surveyor is lined up and I have had many conversations with him in regard to different boats and also in regard to pricing. Even in today’s market he is doing a lot of surveys, and he is telling me the boats that are selling are selling at best 60% to 75% of their BUC value and in some cases 50%. It may be different in other areas but that is my market here in southern NJ.

I see boats that have been sitting for close to a year with little or no price reduction and I wonder why even bother to list them. I am not privy to the conversation between the brokers and sellers, but if the broker is telling them to list it at BUC they are doing a disservice to the seller. If the broker is telling them what the market really is and the seller is disregarding that information then they need to be prepared to have their boat sit there for a long time.

I do feel bad for the sellers that are going to have to take a major hit to sell their boat, but most of us are feeling the hit from the down turn, either in our stocks, 401K’s etc. I am more than willing to pay a fair market price for a boat, not last year’s market, but today’s real market.

I would be interested to hear from any brokers out there in regard to the information they are giving the sellers and if the sellers are following their advice.

I think it is fantastic the OP shared the price; some sellers need a reality check

SeaJay · 01-25-2009, 05:36 AM

Quote:

BiloxiGuy - 1/24/2009 11:09 PM

Quote:

Monarchy - 1/24/2009 3:26 PM

So, what exactly are you trying to say? He got lucky enough to find someone that was desperate enough to lose their @ss on their boat, and you think the entire market should be like that. I'm sorry, the fact that he even posted what he paid for this boat is a shame. All he did was screw over every other person trying to sell a boat relative to what he just bought. Not exactly helping out the market that we are in...But you're right, keep on laughing your @ss off.

It is no concern of a buyer whether the seller got his boat for free and makes a profit or if he paid too much and now is "losing his @ss". The marketplace is a cruel equalizer and a boat will sell for what it sells for with no mind as to what pain or profit it brings to the seller.

Lunkerlure · 01-25-2009, 06:48 AM

My buddy just bought a 1998 Contender 27 Open with 2001 250 ox66's furuno electronics, cd, 2 vhf and autopilot. The boat is in good shape and fishable but we're replacing some switches and all of the latches. It was listed for 50K on the SKA website. He offered 30K and got it. It was a brokered boat who seemed to be a pretty nice and helpful guy so when it was all said and done the owner only got 27K.

BiloxiGuy · 01-25-2009, 07:44 AM

Quote:

KeyPineSavage - 1/24/2009 10:33 PM
I don't, but if we had a dozen or so recent real prices for similar Fountains, we'd have a better idea.

I didn't have a problem with this thread until "Monarchy" started calling me out on me only feeling this way because I have a boat for sale. I have an $8K boat for sale that I own free and clear and have not been in a hurry to sell at all, it's only listed on here. Not exactly a comparison to a 34 Fountain.

My problem is that the original poster found that 57 Corvette in grandma's shed cause grandpa past away and she sells it for pennies on the dollar. Not exactly a true assessment of the classic car market. The mere fact of all the comments on here saying "great deal" and "I'd of bought it for that much" (hell, I would have bought it for that much too) proves that he bought it for below "market" value.

I have no bitterness towards the original poster, he found an awesome deal on an awesome ride and I'm happy for him (and he needs to go buy Propbender24's 300XS's

). But if you guys think that now we should be able to go and buy 34 Fountains all day long for $50-60K, well good luck with that.

Like quoted above, we'll have to see more actual selling prices of Fountains (or any brand for that matter) to make a true comparison of the market. I'll start.

I sold my 1997 31 Fountain in my sig below for $40K four months ago.

ABoater · 01-25-2009, 11:25 AM

Quote:

Mako211cc - 1/25/2009 4:19 AM

I am not privy to the conversation between the brokers and sellers, but if the broker is telling them to list it at BUC they are doing a disservice to the seller.

If the broker is telling them what the market really is and the seller is disregarding that information then they need to be prepared to have their boat sit there for a long time.

I agree.

Some of the brokers that I am aware of out there will tell the seller what he wants to hear to get the listing.

Sellers do NOT want to hear that their boat MIGHT sell for 50 to 60% of the pricing "guides". They are in DENIAL. Especially when they owe more than it's worth (which is usually the case if it's financed).

But when sellers are told the truth/reality, they will occassionally blow the broker off and look to someone else. They are searching for the answer that they want to hear.

So some brokers will tell the seller what they want to hear just to get the listing. Once they have the boat locked up in a listing and they have a buyer on the hook, the broker will call the seller and explain the facts of life to him in order to get him to lower his price.

Sometimes it ends with a sale, and sometimes it doesn't.

But the broker relies on SALES to earn his living, so he'll do what he has to to get the listing in the first place.

Some might say that the brokers are working both ends.

And that might be true...

Pen · 01-25-2009, 11:30 AM

For boat/real estate brokers....

You want to be someone's first love, their second husband/wife and their third broker.

By the time they get to the third broker, they have finally learned that their price is too high...

gary240 · 01-25-2009, 12:34 PM

I'm in the market for a small skiff and I have noticed the prices are all over the place. Heck, some are asking within a few hundred dollars of what they were selling for 5 years ago... I think I have insulted a couple of people, but I'm not paying more for something than I can get out of it if I had to turn around in sell the next week! Boats that are priced right are selling.