"sciman" wrote in message link.net...
This is probably a pretty newbie question, but I have found a boat I like at
a somewhat reasonable price. We are talking a 40FT boat that is 5 years old
so this is a considerable investment. In my offer, what should I be asking
for? The obvious is pending an independent survey, but are there other
things? In today's market, assuming this is an average asking price, is
coming in with an initial bid at 80% too low?

This is a real loaded question.

First thing, if your new to boats, trust me on this, you have no idea
what a used one is worth. You should look at any kind of "Blue Book"
publication to get some feel for what the boat is worth. Next, look at
local papers, broker listings, computer listings
("www.yachtworld.com") anything you can find to start to zero in on
what the boat should go for. Also, pay no attention to "replacement
cost", your not looking at a new boat here. Just because it cost lots
of money when new doesn't mean it's still worth a lot, most boats take
a beating in the first few years when it comes to resale. Try to find
out how long the boat has been for sale for, some boats, like sail
boats, average 2 years to sell (yes, that's correct). If it's been for
sale for a long time it may be over priced, need work, or be an odd
ball type of boat for the area (like a down east boat in Florida).
Find out how bad the seller wants to sell the boat, if it has to go
now you can save a lot of money. Is he selling the boat through a
broker? The boat's going to be priced higher to cover the brokers fee.

After you have done your homework (we're talking after several months)
you should have a good feel for what it's worth. Then make an offer
about 15 to say 20 % less than that, it gives you something to work
with. If the seller is firm on his price, and he's asking too much, do
yourself a favor, it's a boat, not one of your kids, don't fall in
love with it, walk away, come back in a few months, and keep looking
around. If you pay too much for it your going to regret it every time
you make a payment on it.