Used Market: How Much Of A Premium Would You Pay for These

[cruz-in]

Hi All,

When looking for a used Ranger Tug, how much of a cost premium should the following get:

1) Very low hours
2) Fresh Water Boat
3) All its life in Interior heated storage
4) Not stored in water (No Bottom Paints)
5) Never Slept In
6) Plumbing, stove, microwave, never used

What percent more would you pay, above Average Retail (as shown by JD Power), for each of these....if any

Interested in you all's thoughts.

Thanks
Dan

 

[dbsea]

In this economy, I hope people aren't even paying above asking or suggested retail price for any boat. I think the boat market is softening at a rate slower than other areas, but still... However, to answer your question, 1&2 are definitely things which decrease wear and tear on a boat, as well as 3, and maybe 4. These factors are things I would consider when trying to decide between two equal boats that are similarly priced, but not sure I would use them to justify any sort of major price premium. Whether it's slept in or some things are never used I wouldn't even consider.

 

[Submariner]

I'd don't think any of that rates a "premium".

I'd walk through the boat and make sure everything works and determine how much the boat is worth to you.

I had a family member once buy a new car, paid cash for it. It was always kept in a garage. When it was time to sell, it had 10,000 miles on it. It was also 20 years old. The car was junk. All the plastic was deteriorating, engine belts were cracking, tires were rotted. Obviously, an extreme example. Sometimes "being used little" is worse than someone who used it a lot and also took care of it, keeping up on maintenance, washing, waxing, etc...

The actual overall condition and functionality of the boat is what would matter to me the most.
Plumbing, stove, microwave never used... I'd be sure to test them to make sure they work.

 

[scross]

A rarely used boat causes me as much concern as a boat used hard and often.
My sweet spot in searching for a boat is that it has between 40 to 100 hours a year on the engine. Good maintenance records are a real plus.
That said, our new to us 2017 C-28 averaged 30 hours per year on the engine and very little in the way of maintenance records. But I didn’t really expect a boat with only 160 hours on the engine to have had a lot of maintenance records. The propane cooktop/stove had never been used. From all indications, the V-berth had never been used for an overnight stay. Those last two things were ok but didn’t change the value of the boat in my mind.
A detailed survey and sea trial by the surveyor is a must. Checking that everything is working properly before purchasing is a must. Knowing about what spares are included and/or any missing parts is important. When we sold our 2009 R-25 Classic we included $3-4K worth of spare parts.
Understanding what it’s going to take in time and money to get the boat set up for your intended mission is important. In our case, it’s been about 100 hours of work and $10K in upgrades+maintenance+spare parts to get the boat ready for our use.
The used market is definitely a bit softer now than it was 18 months ago. Boats are still selling when priced right but it’s taking longer to connect buyer and seller. Good luck with your search!

PS: I personally would not give that much credence to the “Average” value provided by JD Powers. The range is wide enough to provide a ballpark idea but not much else. I’d look to the listings on Yachtworld.com to see what collectively sellers are asking to get an idea of value before looking at an individual boat. I believe the valuation estimate provided by a surveyor would be a better indicator of the value of any specific boat.

 

[S. Todd]

In my view all those items you listed should reflect on the condition of the boat and, if not abused when being used, it should put the boat in excellent condition. I agree that some hours on the engine every year are good for the engine but if properly winterized and stored - low hours is lots better than high hours. I had a Sea Ray 1987 230 Weekender for 20 years that was used an average of 40 hours per year in fresh water, but always stored on its trailer in a garage out of the weather and after 20 years the fiberglass, including the tape stripes and the interior looked very much like it did when it was new. Unfortunately, it was taken out of Service in a highway accident (not my fault), but a few weeks before the accident someone tried to buy it from me for about what I paid for it 20 years earlier. (Engine never missed a lick, but I always did annual fluid changes and winterization including pulling the stern drive and greasing the drive shaft. Distributor, plugs and wires were replaced at least once.)

 

[Toucan]

If you are going to use the boat in salt water, you will need to get the bottom sealed with an epoxy barrier coat and then anti-fouling paint.

I recommend that you engage a well-recommended buyers broker that you feel you can trust to ensure that you are well represented in any transaction. They will split the brokerage fee so it usually does not cost anymore. Get well-recommended hull and engine surveyors that you pick, not ones that the buyer's broker wants to use.

Barry Thompson
TOUCAN, R-27 Classic

 

[cruz-in]

"If you are going to use the boat in salt water, you will need to get the bottom sealed with an epoxy barrier coat and then anti-fouling paint."

Thanks for the input.

We plan to operate it out of a boatel. It will be put in the water, used, then taken out, engine flushed, boat lightly power washed, and stored in a a heated enclosed building. Will only be in the water overnight for the few days a season we overnight on her.

Do you still recommend sealer and bottom paint?

 

[dgiles]

No, you do no need bottom paint in that case.

 

[robinsroost]

I'd don't think any of that rates a "premium".

I'd walk through the boat and make sure everything works and determine how much the boat is worth to you.

I had a family member once buy a new car, paid cash for it. It was always kept in a garage. When it was time to sell, it had 10,000 miles on it. It was also 20 years old. The car was junk. All the plastic was deteriorating, engine belts were cracking, tires were rotted. Obviously, an extreme example. Sometimes "being used little" is worse than someone who used it a lot and also took care of it, keeping up on maintenance, washing, waxing, etc...

The actual overall condition and functionality of the boat is what would matter to me the most.
Plumbing, stove, microwave never used... I'd be sure to test them to make sure they work.

Must have been a GM product? he he he

 

[Submariner]

I'd don't think any of that rates a "premium".

I'd walk through the boat and make sure everything works and determine how much the boat is worth to you.

I had a family member once buy a new car, paid cash for it. It was always kept in a garage. When it was time to sell, it had 10,000 miles on it. It was also 20 years old. The car was junk. All the plastic was deteriorating, engine belts were cracking, tires were rotted. Obviously, an extreme example. Sometimes "being used little" is worse than someone who used it a lot and also took care of it, keeping up on maintenance, washing, waxing, etc...

The actual overall condition and functionality of the boat is what would matter to me the most.
Plumbing, stove, microwave never used... I'd be sure to test them to make sure they work.

Must have been a GM product? he he he

A Ford Taurus, actually. 🙂

 

[BB marine]

Hi All,

When looking for a used Ranger Tug, how much of a cost premium should the following get:

1) Very low hours
2) Fresh Water Boat
3) All its life in Interior heated storage
4) Not stored in water (No Bottom Paints)
5) Never Slept In
6) Plumbing, stove, microwave, never used

What percent more would you pay, above Average Retail (as shown by JD Power), for each of these....if any

Interested in you all's thoughts.

Thanks
Dan

Low hours: When looking for used boat that is 10 years old I want to see no less than 500 hours. Basically the average boat owner puts about 50 hours a season or a year on a boat. I would not be apposed to a 5 year old boat having 500 hours or a 10 year old having 1000. That to me is low hours and would be considered normal. I get worried about a 5 yearly boat with 200 hours. If I were to purchase a low hour boat with 200 hours that was 5 to 10 year old I would servi=ce it and do all preventative maintenance as if it were a 1000 hour engine. Engines sitting idle for to long have more issues than engines run properly but often.

Fresh water boat: A Plus, Plus, Plus.... I know all the folks that use their boats in salt water may disagree. I have used my boat in salt water. I know how much maintenance is required to keep the boat in Bristol condition when in a salt water environment. When you purchase a new boat and use it in saltwater you are starting with a virgin boat. You know how well it has been maintained. When you purchase used boat that was used in salt water there is a 50/50 chance it was maintained. Many times a quick Fluff and buff is done the boat looks good but in a month or two WOW the boat looks bad. That is the surface. What is going on under the surface? My example I use for comparison. I just Did the Loop in a 2002 Mainship 34 Pilot. It was a Great lake boat. FRESH WATER. 20 year old when I purchased it.
(The exterior finishes were better than my 2016 Cutwater that also was a fresh water boat except for one winter in Florida. That had to do with the poor quality Gel Coat Fluid Motion was using , pre 2020.)
Thats my opinion and another story! There was no evidence of rust staining, corrosion, the engines looked like they did the day they were installed no rust, motor mounts, couplings, fittings were all cooper colored. I saw many boats much newer that looked much older while cruising in salt water area's. To be honest when I got to the northern section of the Hudson River (fresh water) I was in heaven my daily work regiment was cut in half. Saltwater boats require a lot of attention. If an owner is dedicated to maintaining the boat used in salt water it may not be as much of an issue. My opinion, If I am looking at two boats same model, same year, in the same condition, 5 years old or older. One used in salt water, one used in fresh water. The cost of the fresh water boat is 5% more, hands down I'm purchasing the fresh water boat. I may even go 10% more.

Heated storage: In my opinion is a plus, reduced condensation, finishes have less exposure to the elements so the exterior has a better appearance. This really holds true to pre 2020 Fluid Motion products that had marginal quality Gel coat used in production. The gel coat did not hold up well and faded quickly even if maintained. I speak from experience, My C26 Cutwater which I maintained often required two complete details (compound, polish and wax) a year to keep in bristol condition. My C26 when not in use during the off season was stored in heated storage. In 2021 it was used year round and spent the winter in Florida, between the salt water ( rinsed with salt-a-way after each use) and the sun the gel coat faded considerably. It took me a few weeks of restoration to bring it back. The top side roof needed to be painted to look bristol.
Better quality gel coat finishes do last longer.

No bottom paint if the boat is going to be used as a trailerable boat or rack stored is a plus in my opinion. If the boat is going to be used as a weekend warrior boat and left in the water, bottom paint is a plus. If you purchase a boat with no bottom paint and plan on leaving it in the water. You will spend up to 6000.00 having the bottom painted properly. (Sanded and etched with de-waxer, 2 coats of epoxy barrier coat and two to three coats of ablative hard finish bottom paint)

Never slept in: I would not pay more for a boat because of that but I must admit it would be a plus!

Head, water system and all amenity items never used. Again that would be a plus but not figured into paying more for.

I don't use JD Powers, NADA, or any marketing tool. I use what boats are selling for. I look at listings. What are boats listed for on Yacht World. Then do a search for dealer listings and owner listings. Look at how long the boat as been marketed. If it sell quickly at a given price that is you gauge. If it stays on the market for a while it is over priced. This is comparing apples to apples too. If you are looking at a Ranger Tug there are many comparisons out there. Be careful if looking at boats that sold 2021 to 2022 used, that market was inflated. I know! I sold a Cutwater then, sold it for more than I ever imagined it would sell for and it sold in less than a week. The buyer purchased it and it would not fit in his shore station. The cost of rebuilding the shore station and the depth of the water at the shore station put a sting in the purchase. He listed the boat for a month, sold the C26 for 6K more than I sold it to him. This amount was equal to what I paid for the boat and trailer when I purchased it New. Crazy times!!!

My opinion, We all have one!