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Buddy needs his head examined?

Old 05-08-2011, 04:28 PM
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BWO
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Default Buddy needs his head examined?

Catch this one! What would you do for a buddy?

Got a good friend who is hot to trot to buy a high end, 35 foot twin diesel pleasure boat (Yanmar 370's). The boat is 11 years old - year 2000- and probably gets about 1 mile to the gallon at cruise - on a good day. The boat is well maintained and has several upgrades and improvements for a boat that age (awlgrip, vacuflush, electronics, generator, inverter, cushions).

The asking price is $259,000. Sounds like seller won't budge much off his asking price. Other boats of that model have recently sold for $150k - $175k, and not one of that model has sold for north of $200k in a couple of years (big surprise, eh?). Several of that model are now on the market.

I think my buddy is absolutely nuts to consider paying so much for a gas guzzler of that age in this economy no matter how well maintained and upgraded. To me, paying $259,000 in this market seems like a heck of a lot of beans for an 11 year old boat. But, I am reluctant to tell him he needs his head examined because I don't want to jeopardize our friendship. After all, its his money.

Is he nuts to pay that much in this market?

Am I a total wuss for not telling my buddy he needs his head examined or should I just keep my nose out of his financial business (and hope to get invited out on his "new" boat)?
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Old 05-08-2011, 04:37 PM
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If similar boats are selling for 150k why doesn't he find one?

Be a friend and find him another deal and tell him he is crazy....

When my friends buy cars, boats and real estate they call me...

When I need a contractor, doctor, lawyer or book smart MBA's I call them ... LOL

I would think your buddy would appreciate your candid opinion...
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Old 05-08-2011, 04:43 PM
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Just bring the other boats to his attention and mention to him how much gas he would be able to buy with all the money he would save and then let him make the decision and you can feel good knowing that at least you tried.
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Old 05-08-2011, 04:53 PM
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For a 100k one could do a ton of upgrades and rebuilds!

"You" can't be much of a friend if you can't express and share your knowledge!
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Old 05-08-2011, 05:16 PM
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Originally Posted by BWO View Post
Catch this one! What would you do for a buddy?

Got a good friend who is hot to trot to buy a high end, 35 foot twin diesel pleasure boat (Yanmar 370's). The boat is 11 years old - year 2000- and probably gets about 1 mile to the gallon at cruise - on a good day. The boat is well maintained and has several upgrades and improvements for a boat that age (awlgrip, vacuflush, electronics, generator, inverter, cushions).

The asking price is $259,000. Sounds like seller won't budge much off his asking price. Other boats of that model have recently sold for $150k - $175k, and not one of that model has sold for north of $200k in a couple of years (big surprise, eh?). Several of that model are now on the market.

I think my buddy is absolutely nuts to consider paying so much for a gas guzzler of that age in this economy no matter how well maintained and upgraded. To me, paying $259,000 in this market seems like a heck of a lot of beans for an 11 year old boat. But, I am reluctant to tell him he needs his head examined because I don't want to jeopardize our friendship. After all, its his money.

Is he nuts to pay that much in this market?

Am I a total wuss for not telling my buddy he needs his head examined or should I just keep my nose out of his financial business (and hope to get invited out on his "new" boat)?
You can buy a fully loaded 40 foot Tiara (1999~2001 vintage) with twin diesels for less than $260k.

Try to talk some sense into your friend but if he does not listen to you walk away.
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Old 05-08-2011, 06:32 PM
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Sorry, my bad. I just double checked the numbers. The numbers listed under my initial question were off a little (comps are actually a little higher and asking price is now a little lower).

Other comparable year models, although not as nice as the one my friend wants, sold for about $160k - $175k. The asking price on the nicer one he wants has been reduced to $247,500, with a smoke signal sent to my buddy that seller MIGHT take $225,000.

I still think he would be making a big mistake at $225,000 and, if seller ever got that much, seller should run like a thief in the night.

What say you under this new math? Should I speak up or shut up?
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Old 05-08-2011, 06:38 PM
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Why not let us know the make, model and other details? Prices vary widely depending on those particulars.
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Old 05-08-2011, 08:11 PM
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Yeah, kind of have to know make and model to know if its worth it..
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Old 05-08-2011, 09:10 PM
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He's going to want advice about women but won't listen either!
Just be a good friend.
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