Ok so there are two boats for sale. They are 3000 miles from where the owners live and each is kept in a marina ( Eastern Med). Probably looking at, at least 5k per year for mooring. Current owners fly in once or twice a year and use the boat maximum 2-3 months. locals to the area are unlikely to consider the boat. Dunno the reason for sale.
Neither is a modern sleek looking boat, but both are comfortable liveaboards, well built boats. They are definitely suited to a niche market and suitable for what I want to do, namely liveaboard for up to 5 years touring in their current area. Downwind sailing performance is great, absolute rubbish to windward. No timetable. Either will probably need up to 20k spending to bring them up to a level I would be happy/comfortable with. An acquaintance has checked the boats out and agrees on what would be required. Therefore the +20k is a given after purchase cost.

Boat one was initially asking 70k, (doesn't matter what currency.) Now asking 50k. Boat two initially asking 35k, now asking 25k. Both boats have been for sale for two years! Both prices are negotiable.
Question is what percentage of the asking price would you be willing to take if they were your boat? Two years without a serious offer would be quite daunting for a seller. At what stage/ length of time would a "panic" sale occur?
I have no intention of working for the next 6 years so that I will be too old to enjoy "retirement" I want to enjoy it now while I physically still can. Not leave tons of money for the kids, who are all doing fine by themselves.
Yes I do realise in five years time I would be facing the same issues with regard to selling.
Funding: say 100k of my money for the boat, mooring and all upkeep for five years. $350 per week from renting out my home (probably nearer 450), food and entertainment. 100k in reserve for absolute emergencies. The big question is what percentage of the asking price would you offer?

edit getting close to the time when I will take a personal visit to check these and a few other boats out.

Tater said...
Question is what percentage of the asking price would you be willing to take if they were your boat?

As an example I had a yacht that I paid $35,000 for and then spent $20,000 on storing it for 7 years.

I then sold it to the owner of the yard for $300. The percentage of what it owed me that the selling price works out to be is 0.54%.

Be a bastard. Go and look at boats that will suit your purposes and put bitch offers on them.

Be careful here, read something about not being an EU citizen and new very heavy taxes for boats in the Med.

Make more enquiries.