How an earth do you establish the value of a RIB?

Gobuchul · 04 June 2017, 13:26

I am in the market for a RIB.

I don't want to spend too much as I want to make sure I get use out of it, then I might upgrade.

Looking to spend in the region of £6k - £8k.

From looking around on the web, on here, brokers, Apollo Duck, Ebay etc, there doesn't appear to be much of a pattern. It would appear that some people way over value their boats.

Even "completed listings" on Ebay don't follow much of a pattern.

Any decent "rules of thumb" I can use?

Starovich · 04 June 2017, 14:06

How much do you want it, how well does it tick all your boxes?

Other than that how new is it, how big is it, what electronics does it have, trailer?

I would decide what you want to use it for, that will give you a size guide then go from there.

wellhouse · 04 June 2017, 15:15

buyers try to apply tatty boat prices to good boats and are often disappointed when the answer is no!. Tatty boats are cheap for a reason, you will be surprised how much it can cost to bring them up to scratch. My advice is be realistic and get the best condition boat you can afford and be prepared for some additional costs to get it to the spec you want.

Convert · 04 June 2017, 15:40

Hi, I replied to a post of yours on a bike forum yesterday - small world!

I am looking for something remarkably similar to you, but have yet to get permission to spend the cash from my more sensible half. And yes, it is a bit of a minefield it seems. In the world of push bikes you know the moment it has left the show room the 2nd hand price is not far off half the rrp and it goes down from there with a rule of thumb of 10% off for every year, desirability and condition depending. In Rib world there does not seem to be as much available so often not many direct comparisons to make.

I've looked (virtually, not got around to going to see any yet) at a couple of boats from 2004/5 where the seller is asking not far off what the RRP of the package (boat and outboard) was at the time it was new. Clearly a lot less than the current new cost of the same package but that still seems steep even for a very good condition boat. I know older yachts often sell for more than their original purchase price if well looked after but ribs feel more 'consumable'. I guess the price is determined by what others are prepared to pay. Some models and sizes will remain popular as they age more than others.

Do you have a model or size in mind?

Gobuchul · 04 June 2017, 15:54

Hi Convert! Was it the ebay mini rant post?

It's interesting from what Wellhouse posted and then what you have seen.

I am looking at a Zodiac 550 on Ebay, I need to have something that doesn't have jockey seats to get the purchase order approved by SWBO.

I think part of the problem is that there are engines knocking about that have had very little use and might only have 300 hours after 10 years, so the seller seems to think it's an almost new engine and prices accordingly.

I also find that the well known brands, Avon, Zodiac, Tornado etc can attract similar premiums that the likes of Spesh do on Ebay. Although in the case of the boats they probably deserve the higher value.

At the end of the day, I suppose they are worth what people are willing to pay. That's why you see 25 year old Searider SR4's advertised for £3k.

Convert · 04 June 2017, 16:04

Yes, that was the thread!

I'm looking for something a little shorter or certainly no longer with jockey seats (something like a ribcraft 4.8) but will be interesting to see what that Zodiac finally goes for. They have not made much effort to present it very clean which might be in your favour.

Gobuchul · 04 June 2017, 16:17

The reserve turned out be stupidly low, £3,500. So they are keen to sell.

refugio · 05 June 2017, 16:31

It's hard to get a "deal" at the start of the season when prices are high and availability low. I know you want one THIS summer but if you wait until October you'll probably do 20-30% better have have better selection.

Convert · 11 June 2017, 15:22

So what happened to that Zodiac? On ebay it looks like all bids got cancelled and it failed to make reserve.

Gobuchul · 11 June 2017, 15:56

Not completely sure. It did make reserve, that was set at £3500. It was at abut £4600 when it was "no longer available".

I guess somebody made an offer. I considered making an offer but couldn't of collected until Tuesday, which was after the end of the auction, so I thought they would of just let it run, so didn't bother.

wellhouse · 11 June 2017, 17:21

Pretty sure it was up for £11000 on gumtree, may have sold through there.

Poly · 12 June 2017, 21:44

There is no science to rib prices. Even new they don't always make much sense, with brands attracting premiums, people like Humber doing big discounts on new ex-Stock boats, and an unknown element of negotiation.

Other people hate this rule of thumb (probably because if makes their 1 yr old boat worth 30% less than they paid!) but for just testing in your head if something feels stupid I think it works. The day it leaves the factory take off the VAT. Then each year subtract 10% (compounded so after three years it's worth 73% of the ex Vat price rather than 70). If it's been lightly used / well looked after it might be worth more (or if it is highly sought after) if it's been abused, is a hideous colour or has an unusual seating layout it will be worth less (or at least take longer to sell).

Bucksman · 27 June 2017, 19:38

From a sellers perspective it's equally difficult I'm in the process but what was valued at 5-6.5 another knowledgable chap has put it at 7.5-8..that's obv a 3k variation.

I don't want to rip people off just get a fair price. Had offers of around 5/5.5...I like a bird in the hand but not if I'll lose and arm and a leg ⚓️⚓️

spartacus · 27 June 2017, 19:59

During the summer has to be the worst time to buy. Sellers are keen to sell quoting you can be on the water by the weekend and inflate the price of their boat through a combination of what else they've seen for sale and obviously trying to recoup sufficient funds to plough into the next boat purchase.

Buyers are basically searching a pretty niche second-hand RIB market where there's not actually a huge amount of stock out there, so are prepared to 'up their budget' just to conclude what can be a tedious process of web searches, phone calls and trips to view.

Poly · 01 July 2017, 08:54

Quote:

Originally Posted by Bucksman

From a sellers perspective it's equally difficult I'm in the process but what was valued at 5-6.5 another knowledgable chap has put it at 7.5-8..that's obv a 3k variation.

or a 1k variation if you consider the best of pesimistic and worst of the optimistic ranges! Some of that will depend on how quickly you want to sell, how much effort you put in: ensuring it is perfectly presented and sea trials are given so the buyer knows it all works etc. I'd even suggest that sort of variation will come with where in the country you are compared to the buyers. A broker might get more as they have a perception of trust, but you'll see a chunk of that go on their fees. There's also a difference between "advertise it at 7.5 to 8 k" and sell it for "5 to 6.5k". Many buyers will aim to negotiate 10% off, which if you add brokers fees bridges the gap between the two ranges!

Quote:

I don't want to rip people off just get a fair price. Had offers of around 5/5.5...I like a bird in the hand but not if I'll lose and arm and a leg ⚓️⚓️

How much is she costing to store, insure, service etc. What else would you do with the money?

Bucksman · 01 July 2017, 09:22

Well.I kind of get where your coming from. My location is South London so affluent with good access to potential buyers. I'm not one to be haggled so there goes that 10%. A price is a price. I spoke to a few brokers but they don't deal in boats over 5 years. Had few videos at sea recently and no one even asked to see them which I found odd! So in the end I let the auction run on EBay... £5200 fair price cheap enough for the buyer at least.

Cheers bud

Last Tango · 01 July 2017, 21:31

Always worth doing a search on "completed listings" on Ebay to see what price things actually fetched and whether or not they sold.
It's not unusual to see the same boat has been listed over and over again and not sold...........unrealistic expectations ?

Poly · 01 July 2017, 22:20

Quote:

Originally Posted by Bucksman

Well.I kind of get where your coming from. My location is South London so affluent with good access to potential buyers.

Yip, but those buyers also have good access to a huge chunk of the boats on the market.

Quote:

I'm not one to be haggled so there goes that 10%. A price is a price.

maybe you shouldn't have advertised it here as "offers around" then!