Rediculous prices
 

What is with all the crazy prices people are putting on their used Formulas up for sale? I'm gonna be looking to upgrade from my 292 in the near future, but I am really amused by what people think their boats are worth.

$109k for a 2000 382
$149k for a 2007 353 with no trailer
One of my favorites, 1993 357 for $99,500
$169k for another 2007 353
$97k for a 2001 353

Some of these boats even look like crap in the pictures and are being sold by reputable brokers/dealers.

I have a pretty good idea of what I could get for my boat if I sold it today. But you never know, maybe I'll list it for $75,000 and see what happens, haha.

They can ASK what they want. Then wait & wait.

Not sure why it would bother you?

You can really take advantage of the situation by either listing yours much cheaper and getting a quick sale or listing it at a higher price and after a long drawn out negotiation, you'll be the winner!

I wish Fountains were advertised for ridiculous prices, would make mine much more appealing......

RR

A few years ago I sold an 8 year old 382.........my buddies said I sold it too cheap. I got what I needed and the first person to come see it, bought it. 18 months later 1/2 the 382's I was competing against were still listed for sale. I really wonder how often a guy tells his wife, fine I'll try and sell it then lists it for a price knowing it'll never sell.

You can always drop your price in negotiation, but You can never raise it in negotiation

Something usually sells for what it's worth, not for what it's listed for.

Market always dictates.

Although some of those prices do sound a little inflated.

We are also living in very inflationary times for luxury items and real estate so who knows what people might pay..Might as well try..

I agree with t500 - listing high so it won't sell. Wife wants it to sell haha. Then again, I guess they are paying brokerage fees so maybe not.

I'm just a realist. I like to believe that I have a decent knowledge of boat values after owning and maintaining a performance boat for the last 6 years. Condition is everything to me and would definitely pay a bit more for a boat that is worth the money.

I'm just looking at some of these boats for sale and wonder if I'd even consider traveling to look at them based on inflated listing price.

When I list mine for sale it will be based on condition, age, and market. I see no point in deterring potential buyers by claiming to have the most special 292 on the market.

I'm sure there is some direct correlation in regards to boats that are paid off and those who still owe. Someone who owns their boat will probably expect to sell for fair market value. On the other hand one might be looking to sell at a price that salvages a potential loss.

Yes I have found some owe and then want to bag some cash on a sale. :bong:
Some have them paid off but a broker wants a fat check on the sale so they show inflated sales listings to jack the price up.
Some think whatever they own is golden so they want top dollar for junk.
All in all price sells and some listings are gone in a flash and some last for many years and still don't move.
Some need a reality check.

Bottom line is the boats aren't cheap and it's a very limited market. People that are buying these boats want this style of boat. No one goes I'm going to get into boating lets go buy a cigarette boat. Those people buy bayliners and tahoes and that is why there are a million of those out there. These are a very luxury item and if you want one you gotta pay. Also there are deals out there, but you better be ready to deal when they pop up because they go quick.

Well my friend bought a 29 foot formula early this past spring with twin SB's. The seller wanted like 74K for it and he ended up getting it for like 43 or 44K. The boat only had like 160 ish hrs on it and it was a very clean and well maintained boat.

All depends on how bad the seller wants to get rid of it..

He just sold the Formula for the same amount he paid for it due to wanting to upgrade to a 36ft CC Concept with outboards...

I look forward to haggling when I am ready to buy my next boat. Hopefully there are some nice 353s at reasonable prices when I am ready to upgrade.

Can anybody give any insight to experiences with trading in a boat? This is the first boat I have owned and expect the values to be similar to trading in a car i.e. you get more on a private sale.

I am moving to Key West next spring and will wait until I move to Florida as I feel it is a more high performance friendly market compared to California. I do not see very many go fast boats in my area, plus the Navy will compensate me to tow my boat across the country.

Two kinds of for sale listings:

1) Listing with a price that indicates seller actually wants to sell the boat.
2) Listing with a price that effectively puts it "for sale" to appease the wife, but husband has little to no interest in selling.

Some of you guys are really down on your wives!

My current partner doesn't really like boating but never stops me from going out on the boat. It's nice when she comes out too but it's not essential. I had the boat before I met her and she knows if she told me to sell the boat, it would be the last conversation we would ever have.
I'm not really a nasty tough guy but I've always owned boats and as long as I am active enough to enjoy them, I always will.

RR

It seems to me that if a spouse is telling their husband they need to sell the boat, pretty sure they would have an idea of the value and costs associated with that possession.

Some people buy their boat and immediately put it up for sale. They set a price that is what it would take for them to sell it when they aren't really interested in selling it. I know a guy who does this exact thing. When asked what his favorite boat is his answer is "the next one".

I support this method and come spring, my "new to me" boat will go up for sale as well. I am not going to ask ridiculous money for it, but I would have to get top dollar to sell.

I'm thinking a little different about this matter, if my Wife or GF doesn't want to boat, I'm not getting rid of the boat, something else is hitting the road, that's what happened to the first one 25 years ago, I never missed a beat or her either for that matter.

My wife has a phobia of dead fish she hates the water and hates the heat and hates the Sun and yet she's on a boat on the water from Friday through Sunday six months out of the year. If that's not love I dont know what is...but she knows better then to ask me to sell the boat. She just asks me to try to stop spending so much money on it. I say I will try.

some good thoughts.

I will add this,

the used boat market is coming back, maybe not what it once was but it is, I overpaid for my 303, and 4 years in I feel like I haven't lost alotta money if any, now there are some crazy listing that maybe like the above said, keep the wife happy and all that, or look to score, my boats have sold quickly when I sold them for what there actually worth, The other half of my thought is, look at the price of a new boat. Even a 2/3 year old used boat its nuts, the common guy can't swing that!! Ive even seen the 87-92 SR1 market rise a bit this year,

Every ten years the economy makes a turn around. This time around it took a little bit longer than 10 years. But also performance boats made a huge leap so to get the speeds that you can afford is tangible for middle income thus raising the demand. So people are starting to buy. On the north shore of Long Island I'm happy to say there has been a huge increase in performance boat. It makes me happy:)

My 2 cents . . .

There are always asking prices that are unrealistically high and the reasoning behind them probably runs the gambit. Boats generally sell from the bottom of the range of asking prices. So, if you look at the market for 382's the ones at the bottom of the asking range are probably near to what the boat is worth. The others in the higher ranges simply are not selling their boats, they are just wasting their time.

I have noticed that there are some nice boats on the market that are priced accordingly. I just enjoy laughing when I see this in the advertisement: The only 353 Fastech on the market with the preferred 525 Mercury Racing Engines. Haha.

Actually there are quite a few comparable models out there for sale buddy!

Also if a person is selling w/o a broker the price may be lower. Most brokers add almost 10%

I wouldn't say a broker adds 10%. I considered listing with a broker years ago with the expectation I would lose 10% off the real value of my boat.

Here you go diverkr, looks pretty tidy, 2005 model 292 with 6.2's, 212 hours, trailer (and fresh water use for those of you who thinks boat are allergic to salt).

Just listed for 60k and that includes brokerage. Maybe some negotiations and then we can all relax knowing there are sensible prices too.

http://www.offshoreonly.com/classifi...om-o63356.html

RR

P.S. I have no knowledge of, nor interest in the boat, just browsing the classifieds and thought of this thread and the op's 292.

That's a very nice looking 292, with hydraulic steering that boat would be almost perfect! Priced like the seller actually wants to move it.

I agree!!!

Looking for an older 272 or 292

found an 89 272 with small blocks wanting $30k!!! FOR A SMALL BLOCK BOAT!!! and not any updating........

If anyone knows of one please PM me.....

There is 3 nice 272s and a couple 311s on Lake of Ozarks Craigslist

THANKS!!!!!

I love the 311!!!

Just because someone has a high asking price doesn't mean they won't negotiate and don't really want to sell. On one of the boats I bought I offered 20k less than the asking price and ended up buying it for 15k less than the asking price. On one boat I sold I was asking 17k but would have taken 9 just to make it go away but someone offered me 16500 for it.

On one boat I bought, I offered a broker 1/3rd the price and he told me the offer was not worth a response. So he did not get to sell me the boat because he did not engage in negotiations. I contacted the owner and made the same offer. The owner stated that was not a price he could sell for but wanted to keep communications open for negotiations. Since he engaged in a back and forth for a few months we came to a price and I bought it.

Some buyers are afraid of a high listing and will not respond. Some sellers are chumming for big bucks and the listing price means nothing. Many angles to marketing.

I have a nice 2005 353 and I list it high as I look at the high end and the low end of what people are asking for but always willing to deal and I know my boat is clean with low hours 245? My Aluminum Phoniex trailer is a 2009 and it has the 496 HO MAGs in it 425 HP each. I love it and these engines are bullet proof for the most part and really easy on fuel. It is a great boat so if you find a clean one and you like it don't beafraid to make them an offer....

Good luck with your new boats, This is my 8th Formula and the next one will also be!