Value of 05 280BR wrecked but repaired
 

Here is a scenario that stresses out a dealer. Very good customer crashes his near new boat over a pier. Lots and lots of cosmetic damage,nothing structural, no holes,rips off one drive and breaks transom housing,breaks windshield. Insurance claim is $28K. Boat is professionally repaired,all new parts, boat looks great. But he doesn't want a wrecked boat,wants to order an identical 06. I explain it will be expensive,as I would disclose the whole history,if he didn't want it,no one else would unless it was dirt cheap. New car dealers trade in repaired cars and wholesale them,boat dealers don't have that option. He wants me to price a trade deal and it's tough. The boat is almost flawless but it was wrecked. Sold new for cash at 105k,I figure I need to be in it real money around 70K, that will probrably insult him,but I am a businessman. Boat has twin 6.2's no arch or ss w/s. Karen's comment was"You didn't wreck it,he did". She is right,but I want to look after my customers. Comments?

Re: Value of 05 280BR wrecked but repaired
 

Robert what does that mean ? 70K real money ? he can get a new 06 for 70K and his boat ? I agree with Karen ....his misfortuion .... Its gota be The cost of the new boat - what you think you can get for the damaged boat + any profit ( you gota eat) .... it is what it is ....m

Re: Value of 05 280BR wrecked but repaired
 

No,I was thinking with 06 price increase about 110K on new boat,70K tradein ,he pays diff of 40K.

Re: Value of 05 280BR wrecked but repaired
 

Dang ... I would think a trade of a 05 undamaged would not be much more than that .. If your ok with that he should be thrilled ...

Re: Value of 05 280BR wrecked but repaired
 

You deal with the things we call toys, but it's what puts food on your table. You've done this long enough to know better than most of us. But since your gathering opinions I agree that it will be a hard unit to sell. Having a good survey at the ready may help a potential buyer feel more at ease. Could you offer to sell the boat at little/ no commision and he pays the difference in sale price after the fact? (he buys new boat and agrees to cover any difference in what the old one brings)

Re: Value of 05 280BR wrecked but repaired
 

If he doesn't want a "wrecked boat" certainly he can understand that no one does either unless it's steal. Even if someone buys it $70K, it seems to me that the boat would continue to depreciate like a rock after that, right? Assuming that the second owner would disclose the damage to the third owner of course..

Re: Value of 05 280BR wrecked but repaired
 

It is a big loss for him but it is not like he NEEDS a new boat he WANTS a new boat. If he does not like the deal on the table then he can keep what he has. How much have you discounted for this one over a new one?

Jon

Re: Value of 05 280BR wrecked but repaired
 

Business is business and you cant feel bad about insulting him on the trade. He knows just as well as you do that it will be hard to sell a priviously wrecked boat. If you dont feel right about it....tell him to try and sell it himself and comeback later to work out the deal on the new one. He's putting you in a bad position with you knowing all the history of the boat. Tell him youd be happy to try and broker the boat maybe...

Re: Value of 05 280BR wrecked but repaired
 

I agree with offthefront. Even if the '05 was perfect (never wrecked) would you give him much more than 70k on a trade?
I think you're being more than reasonable and he should be jumping all over that deal.

Re: Value of 05 280BR wrecked but repaired
 

I agree with Third and OfftheFront.

Sounds to me like your customer is rather "self centered" (I don't want a wrecked boat but sell it to someone else and give me the world at the same time).

I think you are being more than fair. Like another said: business is business.

Re: Value of 05 280BR wrecked but repaired
 

I know anytime I questioned whether I should do a business deal or not, then went ahead with it, I always regretted it.

Re: Value of 05 280BR wrecked but repaired
 

I don't think anyone is standing in his shoes. He could easily go to a different dealer, tell them the boat is boaring, and he wants a new one, and he would get top dollar for it. So suddenly business isn't so good for you anymore.

Just trying to be realistic.

Re: Value of 05 280BR wrecked but repaired
 

The boat wrecker might be able to slide by without disclosing the damage but Robert certainly can not (nor would he).

The owner surely realizes that he owns a wrecked boat and must also realize that he's going to take a hit on it.

I think the answer is pretty simple--LISTEN TO KAREN :drink:

Other option might be to cut a deal with the boat owner where you take the boat to the B'ham boat show and agree that you'll allow him X% of what you can sell it for there. I would think that as popular as the 280s are you'd get some good offers. (Please tell me it's not RED).

Steve

Re: Value of 05 280BR wrecked but repaired
 

Ya know, Cuda makes a very good point here. He's right, if it
smells like something that will bite you later on,,,,,,,,,,,,,,,,,,,,, it is.

Maybe it's best to just decline this deal altogether.

Dave

Re: Value of 05 280BR wrecked but repaired
 

New for cash at $105,000 less 25% 1st year depreciation(-$26,000) = $79,000 less selling brokerage fee of 10%(-$8,000) =$71,000 to him if there was no past 'damage' history. Now less 20% because of the past history(-16,000) = $55,000 is all he will realistically get for his boat if he tries to sell it. If the new boat is $110,000 -$55,000(real cash value to him) = $55,000 + his boat trade.

Re: Value of 05 280BR wrecked but repaired
 

You said the boat is fine after repair, so what's the deal? Either he was drunk, or a really crappy driver. If he wrecked it once, probably could do it again so you'd think this would be a good boat for him now that it's cherry has been popped.

Either that he's loaded with $$ and spoiled, so then it's time for him to pay the fiddler if he wants a new boat. Don't make life difficult for yourself, figure out how much you could realistically sell a boat like that priced right, and work your standard commsion in, and come up with a #.

Or even better...Just tell him to shut up and use his boat, the damn whiner!

Re: Value of 05 280BR wrecked but repaired
 

I just checked the boat out,nothing wrong except a couple minor issues the glass guy missed,which made him go over the entire boat with maybe a magnifying glass looking for stuff. I convinced him those minor issues could be easily handled,trading would be silly,so I talked him out of the trade without mentioning price,so everybody is happy :p Thanks for the comments. Sometime a dealer has to walk a fine line between good business and alienating a customer for life,as I want all my customers to be.

Re: Value of 05 280BR wrecked but repaired
 

What, alienated for life??? :p :D

Glad it worked out and it was cool of you to solicit our opinions on this deal. You seem to be a good man. :cool:

Re: Value of 05 280BR wrecked but repaired
 

Let me rephrase that :p I meant I don't want to alienate a customer that I wanted as a customer for life. Boy,tough crowd today :drink:

Re: Value of 05 280BR wrecked but repaired
 

Gotta agree with Cuda,,,Never second guess your gut instinct Every time I do,,I regret it..