If you snooze you loose - Truth V The Theory

[Bigplumbs]

There is much discussed on here about the best way to buy a boat, Including Sea Trials, Deposits, Engine and hull surveys and lots of paperwork checks and quite a lot of other theory. Well my experience yesterday chucks this all in the bin. I accept the boat in question a 17 year old Maxum 2400 scr priced at £20k is at the lower end of the price range.

Here is the story in short:

Let me first say the boat was not under priced but was in decent order with a high spec of add ons.

1) Saw boat on ebay advertised at £19,950. Contacted the guy through ebay on Friday (August Bank Holiday) and got a reply from him on Saturday. Spoke on the phone on Sunday and we agreed that I would view the boat (10 hr round trip from where I was) on Monday. He also informed me he had lots of interest in the boat and put another guy off to give me first refusal (The seller was very nice and I thought very genuine)

2) Arrived at marina to view the boat on Monday at 3pm with her in doors and had a normal cursory look over the boat. I was informed that he had 153 people 'watching' the boat on ebay which was correct and 4 people waiting to view but I was given first refusal. Now I know many of you will tell me these are all sales techniques but he was genuine I can assure you.

3) While we were viewing the boat a guy turned up (I assume one of the 4) and sort of tried to butt in as another buyer. This made the seller and me feel quite uncomfortable, but the seller asked him to leave/wait a while which he did.

4) I agreed a price with the seller of £20,000 to include the trailer should I wish to actually purchase and said I needed to discuss with my wife on the way home and would give him a definite answer that night when we got home. (This would be after 9pm as bank holiday traffic was terrible).

5) Just as we got home I received a very nicely worded text from the seller apologising but informing me that the other chap had turned up again and paid a £5000 deposit on the spot. I have no idea what he agreed to pay in total.

6) I do not blame the seller at all but this is a lesson learned. If you snooze you loose.....................................and as for all those checks you are supposed to do no time to even think let alone do as so many suggest on here.

The market is certainly changing or it was on this boat. A real life up to date experience, might be typical might not.

Dennis

[mlines]

I think there is a shortage of good boats on the second hand market, so any half decent ones go quickly.

I expect our resident broker will be along soon to add his view.

[Bigplumbs]

I think there is a shortage of good boats on the second hand market, so any half decent ones go quickly.

I expect our resident broker will be along soon to add his view.

I think you are right and with others prepared to jump in with 2 feet if you are not prepared to take that leap of faith as well you might be looking a long while

Dennis

[Ianfs]

If it was Kipper located in Chichester then I guess if you were looking for a nice well spec’d boat this would suffice.
http://www.ebay.co.uk/itm/Maxum-2400-SCR-Boat-/332352504502?_trksid=p2141725.m3662.l6403
Very unusual to find Air Con on this size of boat and heating too. Several larger boats we have looked at recently had neither. Also the tender, outboard and snap davit’s is a nice touch plus a trailer. Did you manage to get the chance to ask why he rebuilt the "whole" leg? An interesting statement. It was a very well put together advert and made the boat sound perfect.

There is another at Ancasta in Brighton, it’s a 2000, however, it doesn’t have the upgrades of the other boat. In addition there is also one on the IoW it’s a 2001, add says it has a 5.0L 220hp but pics show it as a 5.7L 250hp, but again doesn’t have the add ons.
I think the general consensus is as Martin said, there is a shortage of good boats, but then it is still summer and we are having exceptional weather so if you own one you might be reluctant to sell it, at the moment. The only time I remember selling exodus’s with owners trying to get out of there mortgaged up to the eyeballs ball and chain, at any price, was during the recessions of ’75, ‘80/81, ‘90/91 and 2008/9.

Good boats have always sold fast and I think ColinR’s JokaTu was a good example as was Matt’s Crownline, both serviced to within an inch of their lives and clean as whistles.
I definitely think the advice given to me from Nick Burham of MBY magazine fame was right, that is, to not rush it and not to crack and buy a lesser boat if you miss a good one.
There are still lots of boats out there for sale, especially older ones ’84-90’s ish. They are pretty good value but have the Sword of Damocles scenario, whereby at any moment one or both of the old engines may require a repair or replacement to the value of the boat. Not that engine problems can’t happen to a later boat; but the chances must be exponentially better the younger they are.

So I think you are right Dennis, when a boat comes onto the market which ticks all the boxes and has a great spec. and has lots of buyers ready, it is difficult to think about checks, sea trials, surveys etc. However, who’s to say that the guy with the £5k deposit didn’t organise all this with a proviso that faults would be negotiable or money back, as per the RYI Agreement for Sale which now includes this ….....
Article 5.1.2
“If, for any reason whatsoever the boat has not performed to the Buyer’s satisfaction on the sea trial and he does not wish therefore to proceed with the purchase, he shall give written notice of his rejection of the boat to the Seller within twenty four hours of the sea trial or prior to the placing ashore of the boat for the survey referred to in Clause 5.2 below whichever shall be the sooner. In the event of the Buyer giving notice of rejection, all fuel and oil expenses incurred by the Seller on the sea trial shall be payable by the Buyer from the Deposit and the balance of the Deposit shall be returned to the Buyer forthwith. If notice of rejection is not given the sea trial shall be deemed to have been to the Buyer’s satisfaction. “

Having said all this, £20k is a lot of money and the long term commitment for this amount of hard earned cash should take time before you hand it over. Missing this one was one of those things and may have been a Godsend.

[Xboatboyx]

Yep seen plenty of people miss out on boats this year because they are too busy thinking about it. There is a shortage boats on the market so its difficult for both new buyers, brokers and existing owners looking to trade up. I see the same lot of people looking around last year again and i do wonder if they will ever end up with a boat. For a lot of people the ideal boat they want is either too expensive or doesn't exist. I think some people just enjoy thinking about buying a boat rather than actually owning one.

[Bigplumbs]

It was indeed Kipper

[betty boop]

Nice write up Dennis, I would say its not a recent thing though. Last year we missed a few boats by not deciding etc, some of that being waiting for Mrs B to get time off work to travel etc. Thats why in the end we saw Equinox and paid on Ebay before seeing her in the flesh. We knew with reasonable certainty that someone else was coming to view and knew that we would be looking for a month of Sundays if we didnt pull our fingers out and decide. Yes we made mistakes, we should have offered less may be, should have done more due diligence on the boat and what it was hiding but if your are sensible (as I know you are) you'll be fine - surveys etc. or not. It becomes a nightmare when you go out and make rash decisions on impulse from the likes of Ebay or Facebook market place (a constant family moan of mine).

From this experience you will know now that when you see the perfect boat you'll know what decision to make there and then.

Equinox is up for sale at £25k, Karnic 2260 22ft + swim platform, 4.3MPI 2500 SBS roller trailer, if there is a shortage of boats then that is a fair price for Ebay but its not a sales pitch