second hand pricing

woot · 24 April 2005, 20:00

I've had a go at searching for past threads without luck so need some help. I bought my first boat around 18mths ago and am now thinking of going bigger. The boat is virtually as new with about 70 hours on it. I need to factor the money from the sale of this boat into the sums determining much I can spend on the next one. What is a realistic price to ask in relation to the price I paid and the extras I've fitted? I know its vague but any info or opinions would be welcome.

Richard B · 24 April 2005, 21:30

Quote:

Originally Posted by woot

What is a realistic price to ask in relation to the price I paid and the extras I've fitted? I know its vague...

Mate, don't take this the wrong way, but with such vague info the only answer is.... less!

simmons0 · 24 April 2005, 21:37

A picture would be handy, and a brief spec

woot · 25 April 2005, 07:24

I asked for that one didn't I.
Some details
Package all bought from Humber Nov 2003. 5m Assault with 60hp Yamaha 4 stroke on rollercoaster trailer, trailer board, prop cover, full cover, bow locker,two man jockey console,windscreen, bow cushion, tube mounted paddles, engine lock, bow cleat, towing bolts, A frame, poly storage box, Lowrance X51 echo sounder, garmin 126 GPS, Simrad VHF. Stainless prop.
I can obviously add up the total I,ve spent since I've had the boat I am just trying to gauge how much depreciation I should factor in to price it sensibly to sell. One of the reasons I bought new was that second hand outfits seemed expensive.

mike · 25 April 2005, 07:38

hi,
when you have decided on a price let me know as my rib repair man wants one like yours for fun he has told me his budget so if they are similar i will call him.

re pricing I have sold 3 ribs now and find the only factors limiting depreciation are demand for your type of boat and the condition. Just like cars you get virtually nothing for the extras placed on and in fact on one of my boats I took the gps off (as it left only 2 small holes) as it was worth more off the boat than on!!
simple calculations do not apply so look at the market ie the boat adds and see what you want and then advertise it. If it does not sell at this time of year have a think later and maybe adjust your cost.

good luck!

Jimbob · 25 April 2005, 11:44

hi

i had a boat just like that i sold it last year (same sort of spec), however here is a guide

If you go to somwhere like a trader, he will give you about 4k and then sell it on for 5.5/6k

Private they go for 4.3k to 5.5kish

Daniel TD5 · 25 April 2005, 12:02

after selling my brand new valiant v450 for £6850 40hp two stroke
then getting a DR450 for £6k 50hp two stroke

i would say just over 7k would be ok maybe up to 8k

dan

ADS · 25 April 2005, 12:21

I would have said around 9k seeing as its a Humber. Best thing is too look at similar boats on the market.

Ribcraft 4.8

Robin who posts on here has just sold his Ribcraft 4.8, and I seem to recall he was asking over 10k for it and it sold quickly so it can't have been overpriced.
Try phoning up Humber and see how much they think its worth.
Regards,

Alex

robin · 25 April 2005, 16:38

Woot...you have probably done this already but here are 2 boats similar (ish) to yours.....

www.boatsandoutboards.co.uk/view/F59849/
www.boatsandoutboards.co.uk/view/DKB012/

May help you to get a level for your pricing.

I go along with the comments made by Mike
Real problem is it is not so much the actual worth of the boat...it's a compromise between how much you want to sell her for and how much (or little) someone else is willing to pay.

I was lucky that loads of people were looking specifically for my kinda boat, and there were several re-directs from the Ribcraft website too.

Perhaps Humber do a similar thing?

Best of luck

Robin

PS....great looking boat!

simmons0 · 25 April 2005, 17:56

Based on how much i sold our last boat for, and how much friends have paid for their ribs recently, i would advertise it at about £8.5k and hope for £8k

Scotty · 25 April 2005, 19:10

Quote:

Originally Posted by mike

hi,
Just like cars you get virtually nothing for the extras placed on and in fact on one of my boats I took the gps off (as it left only 2 small holes) as it was worth more off the boat than on!!

How much was the GPS Mike ?? And how much did I pay for the boat ??

Tims Osprey · 25 April 2005, 19:23

woot i would look at it like this
75-80% of its new value you might get but it would take longer to sale.
60-70% you would get and it will probably sell fairly quickly.
60% or less and you would sell quick.
so if you are not in a rush to sell you are always in a position to hold out for more money and on the other hand if you want the money fairly quickly be prepared to lower the price.

woot · 25 April 2005, 21:12

Thanks for the reply's, I am going to see a man this weekend about a bigger boat, if that goes well I will pick a price, put it out there on boats and outboards and see what happens. I don't need to sell quickly so will either accept a decent offer in the short term or wait and see if I can get more closer to the summer. My difficulty in pricing is that I had lots of extra's like bow locker, cushion, cleat, A frame etc which pushed the initial price up but I may not get back. I could also if necessary sell cheaper and remove the electronics stainless prop etc but I'd much rather have it all done and dusted in one go.

Cheers

xpertski · 25 April 2005, 22:36

i would say start asking around the 9k mark, then set a mark at which you will not budge from, for example 8.5k, i think that is reasonable, that is assuming the boat complete cost roughly 10k new, if it has done very low hours i would suggest trying to keep it close to 9k as possible, humbers sell very well second hand because of their high reputation, so i dont think you will have a problem, also get a good action shot of the boat, basically making it look inresistable, and it will go a long way to attracting interest!!! as an idea i sold my zodiac pro 9 man with 50 hp suzuki, with the whole kit costing roughly 9.5k new in 2003, june, and sold it for 8,300! also advertise in as many places as possible, it will increase chances of people looking coming accross your boat! good luck!

xpertski · 25 April 2005, 22:37

............forgot to ask, what boat you moving up to? a bigger humber i hope! i have just up sized from 4.7m zodiac, to a 6.3m humber ocean pro with 140 suzuki! ready in a few weeks!

woot · 25 April 2005, 23:42

Still undecided whats next, have been very pleased with the Humber and would not hesitate to go for the outfit you have ordered and actually had a quote for something similar from Humber not long ago. I have a few options that I am weighing up at the moment. I promise when the decision is made or if I need help making it I will let you all know.