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Old 29 January 2012, 12:12   #1
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Advertised Price V's Price Paid

I am currently looking at what is available on the second hand market with brokers, and as the title suggests, I would like to know peoples previous experiences when buying a second hand RIB from a broker in terms of the advertised price, and the price paid.
I understand that it will have a massive difference on what’s on offer, how quick the seller would like to get rid, and even the time of year.
I am guessing (and hoping) that the advertised price is not the price they will accept, but I dont want to go in at £5k under and insult them, nor do I want to pay over what they would have taken.
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Old 29 January 2012, 12:20   #2
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I'd rather go in £5k under and get it and run the risk of insulting them!
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Old 29 January 2012, 12:20   #3
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Most dealers no matter what they sell are used to getting cheeky offers. If you don't ask you don't get. I wouldn't worry too much about offending anyone, most dealers are probably a bit thicker skinned than that.
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Old 29 January 2012, 13:15   #4
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You have to with some customers

Seriously though with brokerage boats it's very different for each boat, dependant on the customers circumstances and desire to sell. Some have big margins to allow offers or are willing to accept a reduced priced for a quick sale. Others are happy to sit on it until the right price comes along.

As the season gets closer you'll find the latter being the case. Like others have said though you can only ask!

What you have to remember with the traders that only broker is the sale price makes no real difference to them. They just want a sale. If the client is happy to take x,y or z then they get the commission regardless. Obviously they want as much as possible for the client (and a higher commission) but at the end of the day it's not them that is taking the hit! so they will put any offer in if they think there's a chance it'll get accepted.

Personally with my own retail sales I price them very well so have not got a lot of movement left. I prefer that to starting silly then dropping a massive amount. Most boats I sell do so at full asking. On Brokerage I'll put all reasonable offers to the client, unless an agreement is already in place.

For example I've just sold two Ribeye 600's with Yam 115's, one 2002 for £7,995 - the other 2004 for £9,850. The first was full asking. The other I dropped £150 because I liked the guy but also because it was sold within 24 hours of marketing.

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Old 29 January 2012, 17:17   #5
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IMHO moving 1.5% isn't the the norm. It's a tough sellers market in this economy for low end luxury goods. Ribs 10-15k I'd guess can be dented by 5-10% off asking prices if negotiated properly. No one should be paying full asking price on a second hand boat!!!!

If you can't get 5%, walk. There'll be another.
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Old 29 January 2012, 17:27   #6
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If you can't get 5%, walk. There'll be another.
Paul, I'd have thought you were definitely in the right ball park for a discussion that wouldn't offend. However, surely a "walk away" decision is based on whether the boat is a sensible value / price rather than just because you get "5% off".
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Old 29 January 2012, 17:35   #7
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I think there's an article in the February Motor Boats Monthly about brokers and offers. They don't like being asked "What is your best price?" as an opener. They don't like being offered silly money early in the season. They do like being offered a discounted price if the mark buyer has cash and is ready to view and complete quickly, which kinda figures, as they make a wad and can move on to tougher prospects.
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Old 29 January 2012, 17:48   #8
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The "best price" quote is bang on, bloody annoying.
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Old 29 January 2012, 18:05   #9
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Quote:
Originally Posted by HUMBER P4VWL
IMHO moving 1.5% isn't the the norm. It's a tough sellers market in this economy for low end luxury goods. Ribs 10-15k I'd guess can be dented by 5-10% off asking prices if negotiated properly. No one should be paying full asking price on a second hand boat!!!!

If you can't get 5%, walk. There'll be another.
I agree it's not. I had enough margin to give a bigger discount but it was priced correctly so it sold. Most traders would hike the price up to accommodate your 5% discount. As Polwart says if it's already priced at the right money why cut our nose off to spite your face ?

If a trader offers you your perfect used package for £1,500 less than it should be (or an asking price your happy to pay) would you walk away if they refuse you a discount ?

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Old 30 January 2012, 05:44   #10
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I think there's an article in the February Motor Boats Monthly about brokers and offers. They don't like being asked "What is your best price?" as an opener. They don't like being offered silly money early in the season. They do like being offered a discounted price if the mark buyer has cash and is ready to view and complete quickly, which kinda figures, as they make a wad and can move on to tougher prospects.

Yes I had read this, and thats whats prompted me to ask if anyone had any examples of getting any good deals - £5k off perhaps?
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Old 30 January 2012, 06:25   #11
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Quote:
Originally Posted by SteveHall

Yes I had read this, and thats whats prompted me to ask if anyone had any examples of getting any good deals - £5k off perhaps?
I very much doubt you would get 5k off any boat priced sub £15,000. If you do you'd have to question what's wrong with it to warrant such a reduction.

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Old 30 January 2012, 06:43   #12
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I very much doubt you would get 5k off any boat priced sub £15,000. If you do you'd have to question what's wrong with it to warrant such a reduction.

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Yes, guess your right if they dropped £5k without any reason - I just thought they may have done it to be nice to me - times are hard and all that

Think I will try it though - Like people say they can only say no, and having the cash in hand may help.
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Old 30 January 2012, 06:51   #13
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I agree but be careful not to make them think your wasting their time as you may end up not getting anything off. Perhaps it's better to offer that in person showing your genuine, if your doing it via email expect a swift reply...

Good luck. You never know you may get lucky. Let us know how you get on.

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Old 30 January 2012, 07:05   #14
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I agree it's not. I had enough margin to give a bigger discount but it was priced correctly so it sold. Most traders would hike the price up to accommodate your 5% discount. As Polwart says if it's already priced at the right money why cut our nose off to spite your face ?

As you say most traders do price a boat with room to manoeuvre, so about 5% is fair negotiated price on any advert. If cash, it's quick, or finance with them will give a kicker also.

And yes I'd walk if a seller wouldn't move at all. It's just not cricket. Re moving 15% + I'd agree, its dodgy or prices stupidly to start with.
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Old 30 January 2012, 07:10   #15
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"I am guessing (and hoping) that the advertised price is not the price they will accept, but I dont want to go in at £5k under and insult them, nor do I want to pay over what they would have taken."

I'm happy to be insulted all day (it prepares me for when I go home to the wife).

Seriously though, a private seller may drop £5k type figures, but as a broker, part of my job is to get the vendor to market the boat at a realistic price in the first place.

Still ask away! We can onle say no!
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Old 30 January 2012, 07:25   #16
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Quote:
Originally Posted by HUMBER P4VWL
I agree it's not. I had enough margin to give a bigger discount but it was priced correctly so it sold. Most traders would hike the price up to accommodate your 5% discount. As Polwart says if it's already priced at the right money why cut our nose off to spite your face ?

As you say most traders do price a boat with room to manoeuvre, so about 5% is fair negotiated price on any advert. If cash, it's quick, or finance with them will give a kicker also.

And yes I'd walk if a seller wouldn't move at all. It's just not cricket. Re moving 15% + I'd agree, its dodgy or prices stupidly to start with.
Your hard to please

I very much doubt you would walk away out of principle if you found a boat which was priced spot on at a figure your happy with and all your checks are positive regarding its condition etc, just because you you didn't get a discount. Don't get me wrong I'm all for bartering, when I'm buying I make silly offers too. My point being though if I can pay full asking I will. I'd not walk away because the seller "won" the negotiation.

Remind me to add £1,000 on to the asking price when your interested. Just to give me the flexibility to give you the discount you need to secure a deal :wink:

personally I think that's the wrong way to do it and I'll stick with pricing them correct to start with but each to their own!

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Old 30 January 2012, 07:26   #17
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And yes I'd walk if a seller wouldn't move at all. It's just not cricket.
Ah, well that explains it! Cricket is a seemingly pointless activity played by the English and some of their former Colonies. I guess bartering when you are already presented with a good deal is much the same.
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Old 30 January 2012, 08:43   #18
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On a parallel I advertised my old laser using the "barras principle" - i.e whoever called would haggle. They did, I reduced. Boat sold - everyone happy.

I have a Suz for sale using the same principle (ballpark ebay selling price + a bit). So far a couple of enquiries but nobody has come back with an offer.

So it works both ways...
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Old 30 January 2012, 09:19   #19
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"Remind me to add £1,000 on to the asking price when your interested. Just to give me the flexibility to give you the discount you need to secure a deal :wink: "

LOL

I may be wrong but I just don't see the advertised price of any good on a second hand market as the price that I'd pay. Honestly, I'd never pay asking for a house (unless rapidly rising market) car boat bike or whatever. It's how business has been done for years. Any seller starts at the highest readable market price.

Even in the first day of the advert any seller who risks the sale for 5% is mad. A buyer knows there'll be another and wont lose money waiting, the seller risks depreciation and running costs while waiting. Simple economics.
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Old 30 January 2012, 10:56   #20
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I may be wrong but I just don't see the advertised price of any good on a second hand market as the price that I'd pay. Honestly, I'd never pay asking for a house (unless rapidly rising market) car boat bike or whatever. It's how business has been done for years. Any seller starts at the highest readable market price.

Even in the first day of the advert any seller who risks the sale for 5% is mad. A buyer knows there'll be another and wont lose money waiting, the seller risks depreciation and running costs while waiting. Simple economics.
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