Advice on selling

[Phil Nersessian]

Hi all, Unfortunately, due to a change in marital status I have decided to sell my 2016 C30 command bridge. As this was my first boat I have gotten a lot of great info here on Tugnuts, I'm hoping for a little more. My plan right now is to put her for sale on Tugnuts for a week or 2 for about $230k, then list her with a broker for about $250k to help make up for the commission. This is my first time selling a boat so any advice about selling, brokers etc... is appreciated.

 

[tugnnaweigh]

Of all the factors in play here the only absolute is NADA, what value NADA places on your boat. It’s what banks will loan a portion of, it’s what insurance companies will insure it for etc. etc. NADA the boat and see how the values fit with your asking price and then compare your asking price with others.

When your list big ticket, declining value items the folks you hear from quickly are those in the market, perhaps in the market for some time and they likely know the market, have seen what other sales have closed for and have made offers on other boats so their offers are insightful information.

If you’re flexible, known as taking it up the ‘ol wazoo these folks are your quick buyers.

If you don’t close a quick sale then it’s off to the limbo land of waiting for someone to come into the Cutwater market seeking your length vessel so things will slow down quite a bit as your boat related expenses(slip fees, maintenance, insurance) and depreciation continue taking money out of your pocket.

My advice is to wazoo it as we all end up doing to complete the sale and don’t use a broker and here’s why. The offer is going to be lower than asking by some percent, likely 10% (traditional) to 40% depending on the economy which I think is going to really tank in the next couple years.

Then the broker gets their 10% commission which I don’t think they're worth and you’re off the asking price by 20% to 50%. So to get on the internet, which is really all a broker does for you, meet or beat the lowest priced comparable Cutwater in pricing, place an add on BoatBroker and the folks in the market, ready to buy will head your way and make offers which is the goal, bringing offers.

Keep in mind, in offer and acceptance if you counter to an offer, said offer is off the table, the offere is no longer bound to perform, you’ve lost the offer; so if you get an offer you can live with in any way at all take it and never look back.

I’ve bought and sold 30 plus boats and have always always taken far less than what I wanted because that was the offer.

Remember, it’s not the price you set, it’s the offers you get. Good luck with your sale.

 

[Craig]

Very good advice


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[scross]

Sorry to hear you need to sell...
I'd look at your competition first. There are currently 21 Cutwater 30's on Yachtworld right now. Some are sedans, some are command bridges and some are sport tops. Prices range from a 2015 Sedan priced at $187,500 to a "Like new C30 Command Bridge LE 2017 with only 24 original hours" for $289,900.
I wouldn't give too much weight to the NADA pricing guide of average retail of $256,05 for your 2016 C30CB boat because there are just too many variables NADA doesn't take into consideration (e.g. engine hours, live aboard?, sallt vs fresh, covered slip or not, service history, etc). Some lenders use NADA like a bible but many don't.
See this article for more info:
https://www.boats.com/boat-sellers-guid ... 1561329695
Last boat I sold was back in 2015. I priced it right, had a survey done for potential buyers to review, advertised the hell out of it and finally got full asking price. But it took 4 months to sell and it's wasn't close to a six figure price! Once you get past September the market really, really slows down.
Good luck!

 

[knotflying]

My experience when selling anything is price it right and work with the first reasonable offer. It is usually the best.

 

[Phil Nersessian]

Thanks Guys! Seems like good advice.