We’ve had a surprising number of boat owners contact us in the last couple of months with boats that need work and for a number of reasons, an As-Is-Where-Is boat sale is something they’re keen to explore.
Take Leonard for example, he’s an expatriate owner of a 40’ Flybridge boat with two damaged engines. The boat is around 10 years old and otherwise in very nice condition and the engines are now out of the boat. He wants to sell his boat as it is, as it’s becoming an increasing headache for him.
By way of background, in Asia, it can be difficult to do a number of things with your boat, problems that may not be as challenging in another location or in other parts of the world.
The two main problems that we at BASCO Boating help solve for boat owners in Asia are:
1. It can be difficult to sell your boat in Asia
2. It can be difficult to get your boat repaired in Asia
So, Leonard is asking me the inevitable question ‘How much will I get for my boat as it is?’
We had a long conversation to really pin down the options that he has. He agreed that he still needs to get some accurate figures together so he can make a sensible decision about what to do with his boat.
But put simply (always easy to say but more difficult to do/expensive/time/money/energy) Leonard needs to know with accuracy:
1. Cost to get his boat operational with new engines
2. Cost with reconditioned engines
3. Cost with repaired engines
4. Cost to ship and import the boat to his home country and either uses it there or sell it there
5. What the boat is worth on the market today, as it is
And the frustrating and overwhelming situation he’s stuck in hasn’t been for lack of trying on his part. He has been Google-ing flat out along with his mechanically-inclined friend helping. He has even flown his mechanic to a neighboring country, to visit the workshop that was advertised online, only to find that when he arrived, there was nothing there at the address.
It was yet another scam and fictitious setup. It was after this, that he called me feeling quite defeated and annoyed.
We chatted some more about his options, and he agreed that getting the information and feedback is really what he needs to do. It’s because only once he has a good idea of this can he really know what the best course of action is.
He was heartened to hear that William, my hubby was, in a previous life, a Volvo Penta dealer and award-winning service agent back in New Zealand some 20+ years ago and with deep industry connections and knowledge we can help him with those questions above.
At BASCO Boating, we’re a Boat Advisory Services Company and helping solve client’s problems is at the heart of what we do when helping people buy and sell boats.
This guy needs quite a bit of help and assistance to cut through the information overwhelm and the chaos to get the numbers he needs as well as some offers so he can make his best move.
We finalised his proposal today for a project to get the answer to the 5 questions above for him.
We have an As-Is-Where-Is Online Boat Show happening in April, and we’ll be marketing his boat and this event widely so we can get price feedback for him and even better, a sale at the price he is looking for.
He confirmed that having the boat taken off his hands is the best solution. And yes, given the effort, time and energy to do the first four points himself, then selling the boat at the price he would like are ideal.
But we don’t know what the market will pay until we ask and we’ll do this by actively marketing the boat for sale and soliciting price feedback and offers.
So, the last point — what is the boat worth — would still require BASCO to do that marketing and sales campaign to get those 4 x price feedback/offers for him.
It’s not an easy piece of work, especially since we provide a money-back guarantee on our service.
But nevertheless, he’s committed to the project, demonstrated by making a payment for the services and so are we. By working together as a team to get the project done and the boat sold, we can be the best value to our client in helping to get his headache solved.
The thing I really want you to take away from this if you are a boat owner with a boat that needs work — is the market is often the right one to tell you how much your boat is worth, not a broker.
So, what this means to you in your boat-selling life is getting price feedback from the market is always most important, and even more so for boats that require work or are As-Is-Where-Is.
So, here’s your next step as it relates to what you and I just shared: if you’re not sure what your boat’s value is, then investigate the methods and means to get 4 times price feedback or offers so you can understand the market and have the required information at your fingertips so you can make your best move, and be able to move on with your life (or boat upgrade), without worry of how long it will take to get an offer.