Pardon me for talking about $

Discussion in 'All Things Boats & Boating' started by Sawdust, Feb 26, 2012.

  1. Sawdust
    Joined: Aug 2011
    Posts: 23
    Likes: 5, Points: 0, Legacy Rep: 76
    Location: New York, USA

    Sawdust CEO & sweeper

    Hello--
    I've built a boat on speculation, my first floater after decades in housing. I've taken my time and adapted modern technology (cold molded strip planking with a fiberglass & epoxy skin) to the lines of an East Coast classic fishing boat. She's fully rigged and outfitted with everything except a fish finder and life jackets--that stuff's pretty personal.

    Now that it's time to let her go, I'm faced with the dilemma of establishing a price. I know how much I've spent, but the hours of labor are beyond counting so there's no simple formula that will give me a starting point. I could wait for someone to fall in love and just offer an amount that I'd be crazy to turn down, but that might be a long wait. More troublesome, I might get an offer that's substantially more than a comparably equipped factory boat, but not a "don't be stupid!" offer. I have no idea where to draw the line. I'm in no particular hurry, except that the clock on the 5 year new motor warranty starts ticking in March.

    I've been displaying the boat on my WEBSITE and leading internet searchers to the site with advertising by Google Adwords. So far (since November) I've had 1800+ page views on the home page, 380+ to the photo gallery, and 110+ to the specifications page.

    I've also posted a video about building the boat (see it here) which has been viewed over 1200 times. Lots of fish past the bait, but not a nibble (of course, it is February and a lot of boating territory here in the north is better suited to billiards than boating at the moment.)

    All of which is to say I could use some help--I have no idea what I should reasonably expect. Your opinions would be greatly appreciated. :)

    Stu
     
    Last edited: Feb 26, 2012
  2. PAR
    Joined: Nov 2003
    Posts: 19,133
    Likes: 489, Points: 93, Legacy Rep: 3967
    Location: Eustis, FL

    PAR Yacht Designer/Builder

    Considering the market's current state, take you lowest possible expected price, then half it and begin negotiations, further accepting the price to drop, before a sale.

    Home made boats are a difficult sell, wooden boats are a difficult sell, any boat in this market is a difficult sell, so don't get your expectations very high. I'm not sure where you are, but eventually spring will pop and things will pick up (a little).
     
  3. rwatson
    Joined: Aug 2007
    Posts: 5,875
    Likes: 311, Points: 83, Legacy Rep: 1749
    Location: Tasmania,Australia

    rwatson Senior Member

    Unless you really need them money, hang out for 12-18 months if you have to, and don't just give it away.

    You will find someone who will really love and want it, and will 'talk you down' to an acceptable price if you are a good salesperson.

    Also, keep up the excellent 'viral marketing' by asking for 'advice' in forums like this ;)
     
  4. michael pierzga
    Joined: Dec 2008
    Posts: 4,862
    Likes: 115, Points: 0, Legacy Rep: 1180
    Location: spain

    michael pierzga Senior Member

    Boats are fantasy. Who knows what a person will pay for their fantasy ?

    If I wanted a Sea Skiff I would consider the cost of home build...materials ,shop setup... then compare to your asking price when considering value.

    A seaskiff is an unusual boat. I don't know if you can buy one in production so this gives value.

    I would ask a high price to imply exclusivity then see what happens.
     
  5. Sawdust
    Joined: Aug 2011
    Posts: 23
    Likes: 5, Points: 0, Legacy Rep: 76
    Location: New York, USA

    Sawdust CEO & sweeper

    Thanks guys! I'm in New York, up north of the reservoirs where wood is cheap and the winters are long.

    So far we've got one pessimist, one realist, and one fisherman....only the pessimist is from the USA. Must be someone on Cape Cod or in the Carolinas or Texas or California that dares put a number on his opinion....

    Stu
     
  6. PAR
    Joined: Nov 2003
    Posts: 19,133
    Likes: 489, Points: 93, Legacy Rep: 3967
    Location: Eustis, FL

    PAR Yacht Designer/Builder

    Only you can put a number on it . . . regardless of the photos you post, we still can't see what's really going on with fit, finish and condition.
     
  7. KnottyBuoyz
    Joined: Jul 2006
    Posts: 829
    Likes: 55, Points: 0, Legacy Rep: 685
    Location: Iroquois, Ontario

    KnottyBuoyz Provocateur & Raconteur

    Hi Stu

    You might want to attend this years Antique Boat auction at the Clayton antique boat museum. There's an avid community of collectors there and you should be able to get a good idea of what you boat is worth. Maybe drag it along and see what comments you get.

    http://www.abm.org/index.php/events/antique-boat-show-and-auction/
     
  8. PAR
    Joined: Nov 2003
    Posts: 19,133
    Likes: 489, Points: 93, Legacy Rep: 3967
    Location: Eustis, FL

    PAR Yacht Designer/Builder

    Lots of folks will say it's worth many 10's of thousands, but unless they can actually part with those 10's of thousands, these comments are just lip service. The show circuit might be worth a try, but you'll experience some costs associated with this route. Entry fees, dragging it around on the road and of course the time spent hanging out at shows.

    A well worded photo ad, in WoodenBoat Magazine is the wisest path I'd venture.
     
  9. michael pierzga
    Joined: Dec 2008
    Posts: 4,862
    Likes: 115, Points: 0, Legacy Rep: 1180
    Location: spain

    michael pierzga Senior Member

    And when building custom one offs ,I notice that my mates who make a success of it build very special vessels for very special customers.

    Hard to say what special is in your region.

    By special I mean something like duck boat for a very experienced duck hunter who is fed up with the wet butt inconveniences or poor dog access found with production designs. He will pay good money for a highly detailed , purpose built boat.

    Work boats can be special. Its been many years since Ive seen a professional painters float. A yacht yard will pay good money for a float that really works.

    High tech materials and the best of everything mean little....great design and craftsmanship is everrything
     
  10. glasssurfer
    Joined: Dec 2009
    Posts: 39
    Likes: 2, Points: 0, Legacy Rep: 25
    Location: qudara island

    glasssurfer Junior Member

    sweet boat man! id love to have something like that!! awesome design! why would you ever want to sell something like that. anyone ive talked to thats sold a boat they built rgrettd it and sold it for way lass than it was worth. keep it. or give it away if your baller.
     
  11. CatBuilder

    CatBuilder Previous Member

    The real answer to this question is not what the seller thinks it's worth. It's what a prospective buyer (if any) thinks it's worth.

    If any item you are selling has nobody that wants to buy it, it is then worth $0.

    If you price any item higher than the average market value, you will sit on it forever and it won't sell.

    The secret to selling anything is to have something people want and then to charge a price they are willing to pay.

    You shouldn't be saying, "how much can I get?" That's what a guy who sits on something and never sells it says. You should be asking, "what are people willing to pay, if anything, for this boat I made?"

    That's not negative. That's reality.

    When in Maine, I often look through a publication called Uncle Henry's.

    I literally sit there for hours laughing...

    1982 Craftsman 14" Mower with 6hp Briggs and Stratton Engine
    No Blade
    Won't Start
    Like New
    $900

    This is the kind of thing you need to avoid. You also need to write a good ad, although you just did some great marketing here by slipping your links into a forum of boaters, of course... that's good gorilla marketing.

    I'm not talking out of theory either. I can put my money where my mouth is. I've owed several boats over the years and not once have I ever sold one for less than I paid for it. Never.

    You must price anything you are selling at the price other people will pay for it, not what you hope to get for it. Unless you like hanging on to stuff forever.
     
  12. gonzo
    Joined: Aug 2002
    Posts: 15,500
    Likes: 1,040, Points: 123, Legacy Rep: 2031
    Location: Milwaukee, WI

    gonzo Senior Member

    The boat is an old design and will require enormous maintenance to keep it looking good. It is completely impractical for a fisherman. It doesn't have the speed or style to appeal to the vintage speed boat crowd. Custom builds are usually done by contract, because then the oddball boat already has a buyer. If you can get the cost of materials, you'll be doing really well.
     
  13. Sawdust
    Joined: Aug 2011
    Posts: 23
    Likes: 5, Points: 0, Legacy Rep: 76
    Location: New York, USA

    Sawdust CEO & sweeper

    Interesting that one fellow can't evaluate the boat from a few pictures, and another can determine that its most likely use is for firewood.....

    Fortunately, I do not have to sell this boat to a "market" (as I would if I had dozens of them to unload); rather, I need to find one (or better yet, two!) fellows who are, for whatever reason, convinced that I've built the perfect picture-frame in which they want to be seen fishing. Surely there must be a few good Americans left for whom cost and inconveniences of maintenance are mere trifles compared to the unbounded joy of knowing the old curmudgeon next door will die of envy every time this boat passes by his dock.

    Stu
     
  14. gonzo
    Joined: Aug 2002
    Posts: 15,500
    Likes: 1,040, Points: 123, Legacy Rep: 2031
    Location: Milwaukee, WI

    gonzo Senior Member

    Sure, there is a small market. However, there are many more people, like you, trying to sell than there are buyers.
     

  15. rwatson
    Joined: Aug 2007
    Posts: 5,875
    Likes: 311, Points: 83, Legacy Rep: 1749
    Location: Tasmania,Australia

    rwatson Senior Member

    Yeah - you will need to learn to take criticism if you put your work out there. For a start, your half dozen photos ( picked for their attractiveness no doubt) can never convey the 'real' boat. I am always surprised how good photos make even my rubbish jobs look - so I am sure everyone on this site knows that the photos are like those on internet dating, full of hope but pending personal inspection.

    Gonzo's comments are what most of your buyers will be thinking, and throwing in your face as they make their ridiculous offers.

    I personally find the pulpit styling and seating reminiscent of an old codgers antique rocking chair - certainly not something I would "die of envy" for.


    Huh ! If that's not a market - what is ? You have to find the 5 people in the whole of the world who think that your work is too wonderful to live without - a small market, but its a market.


    I definitely think it would be an American who thinks this boat is wonderful. But they would only be 'good' if they buy it right ? All the others would be Commies or queer ? :)


    A bit of advice - I cant make any sense of this catch phrase on you website :
    "Pricing: reasonable offers will be ignored; outrageous offers will be entertained until such time ....... ”"

    Reasonable offers will be ignored ????? I thought you wanted to sell!
    "outrageous offers will be entertained - " - outrageous good or bad ?
    Surely your aren't expecting a huge rush of eager buyers?


    Also - You may be interested in the study titled the "IKEA Effect" -
    "Participants saw their creations – of both utilitarian and hedonic products – as similar in value to the creations of experts, and expected others to share their opinions. "
    http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1777100
     
Forum posts represent the experience, opinion, and view of individual users. Boat Design Net does not necessarily endorse nor share the view of each individual post.
When making potentially dangerous or financial decisions, always employ and consult appropriate professionals. Your circumstances or experience may be different.