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Author Topic: 1986 C 34 Values  (Read 2912 times)

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Alohman

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1986 C 34 Values
« on: April 09, 2003, 02:20:38 PM »

We have owned, loved, and upgraded our C34 over the past 4 years.  We are now thinking of moving up in boat size.  Part of our decision will be based upon what price we might get for our C34.  We went to yachtworld.com and it looks like the prices range from $40;s to high $50's.  Our boat is VERY well equiped and in good condition.  How much off the asking price is usually negotiated?  The boat is in the Annapolis area and there is only one other listing in this area.  Are boats in Annapolis more expensive that in other areas?  How much does equipment and features really add to a C34's value?  Is it even reasonable to think of tring to sell the boat ourselves? Any advise would be appreciated.
 Vicky
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SEACRECY II #1214

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1986 C 34 Values
« Reply #1 on: April 09, 2003, 08:53:11 PM »

I actually just bought a '92 C34 in Grasonville (just across the bridge) a month ago. Before putting in an offer however, I had to sell my '88 C27 in Baltimore. I got lucky- I hung a "for sale" sign on her at the marina and had a prospective buyer within days (and this was February!). Just in case the deal fell through, I went ahead and put in ad in the classifieds of the March issue of "Mainsheet". Even though I ended up selling her to the first prospective buyer, I've received (and continue to receive) LOTS of calls inquiring about her. So my advice is, if you want to possibly save some $$$ avoiding brokers fees, you may want to try selling her yourself first. As a recent C34 shopper, I can tell you that I'd been scouring the Spinsheet for 4 months looking for a decent C34 on the Bay. Doesn't seem to be that many for sale around! By the way, if you do decide on trying "Spinsheet", their deadline for the next month's issue is usually on the 10th (and you can call to give them the info over the phone). Caveat: I don't work for Spinsheet and I've seen some boats in their classifieds that have languished for months! Just passing on my own experience... :)
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Mike Smith

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1986 C 34 Values
« Reply #2 on: April 10, 2003, 05:54:42 AM »

My advice is to have you boat surveyed and use the surveyer's estimate as your price and stick to it.  All a broker is going to do is hang a "For Sale" sign on your boat and then dissapear.  When the boat sells - and it will - they will take a good percentage of your selling price for nothing.  My impression is that the C34 is a very popular boat and when one comes available on the market, they sell quickly.  I bought mine the first DAY it was advertised - it was a trade-in on a motor yacht, and the yard didn't even have a chance to wash it! You have many free outlets for advertising on the Web - you shouldn't have a problem.
 
 Mike Smith
 S/V Breezer
 www.mikejansmith.com
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Mike and Theresa Vaccaro

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1986 C 34 Values
« Reply #3 on: April 10, 2003, 07:06:54 AM »

Vicky,
 
 We just purchased an '88, and can assure you that there aren't that many 34's on the market!  We were fortunate to sell our previous boat to a neighbor (i.e., no hassle whatsoever)...think that a good 34 will sell quickly, but like anything else, it's only worth what someone is willing to pay!  An experienced buyer will know that if a boat is in good condition and well equipped, it will sell at a premium price; but there is a realistic limit.  This "limit" is usually what a bank or financial institution is willing to fork-out in mortgage money!  If your buyer has sufficient cash, this may not be an issue, but if they are only putting down the "standard" 10% (i.e., stretching the family budget!), it could be.  
 
 We learned that traditionally, boats sell for about 90% of the asking price.  A broker has access to actual sales data, so if you're working with one (perhaps to buy your new boat?), they'll be able to show you all of the '34's that have sold, their asking price, sale price and time on the market.  For the most part, boats on the high end of the asking price range for a given year stay on the market the longest--but if you're not in a rush to sell???
 
 One of the other things to consider is all of the equipment you've added.  Unfortunately "blue books" are a hell of a reality check.  Your new 2000 dollar radar might be worth all of 500 dollars in assessed value.  Traditionally, electronics that are over five years old don't add much value.  If you go to www.nada.com, you can run the numbers for your boat.  By the same token, an experience buyer will recognize any value if it's there and may be willing to pay more.  
 
 Selling a boat on your own is no problem--just some rudimentary paperwork to complete.  The Coast Guard will help with documentation questions, and your local tax office with registration (if you are in a state that requires this)--it is the buyer's responsibility to pay any sales tax.  The only "paperwork" required is a bill of sale, and this is simply for your records.  You can draw this up yourself.  Also recommend that you use a contract for any offers and then have the buyer sign an "intent" letter indicating that they have "accepted" the vessel for purchase.  A broker is the best source for this paperwork, but anybody that has purchased a boat recently (including us!) have copies.  The internet may be another good resource, if you use a search engine to ferret out a "marine sales contract," or "acceptance of vessel."  
 
 If your broker will be finding your new boat, you may be able to negociate the commision on your current vessel (capitalism is great!); so perhaps you may have the best luck if you find a good broker to help with everything; but it isn't required!
 
 Hope this was helpful.
 
 Best of Luck,
 
 Mike Vaccaro
 '88 #563 "Spirit"
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ansusna

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1986 C 34 Values
« Reply #4 on: April 10, 2003, 11:48:21 AM »

We purchased our 1987 Catalina 34 last fall from a private seller.  The whole process was very staightforward.  We had been looking at Catalina 34's and 36's for almost a year.  My observation from watching the market was that Catalina 34's did not stay on the market long if they were priced reasonably and free of major problems.
 
 We were using www.bucvalue.com to gauge the price of different boats.  The broker's kept telling us that Catalina's were underated by BUCValue.  I'm still not sure I believe them.  We ended up paying about 10% over BUCValue for a 1987 Catalina that was in excellent shape.  In the end, I think we split the broker's commission with the seller, and everyone was happy.  The seller advertised in the Washington Post, and we were the first people to go and look at the boat.
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Tom P, IMPULSE #233, '86

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1986 C 34 Values
« Reply #5 on: April 10, 2003, 02:55:29 PM »

Vicky,
 
 I think most info posted here is good advice...I strongly agree with Andrew in using bucvalue.com, since those numbers are based on actual sales...A careful reading of their web site tells how much to add/deduct for a fair price...
 
 I don't want to scare you, but I agree with your statement about most boats in Annapolis are priced on the high side...I'm also not sure there is a huge market for C34's there; although there aren't many C34's on the market there either...
 
 I think most of the market up there is for all out racers and/or high end cruisers...Just  observations I've made while watching the ads and spending a little time up there...
 
 When I first started looking at boats in Annapolis, the broker also told me not to get descouraged over the high asking prices...He said to expect most sellers to come off the price 10%-30%...I was shocked to hear that.
 
 I bought my '86 c34 in Annapolis 1.5 yrs ago and it had been on the market for a little over 1 year...According to the BUC Value, it was priced too high (in the 50's)...But using the BUC Value reasoning (additions/subtracts) I managed to get about 25% off asking price...
 
 I took the BUC value of the C34, then deducted a little more negotiating room, and made the offer...Ended up coming up a little, but still ended up at he BUC value...
 
 Yes, the seller balked; but it was late fall and Annapolis ain't cheap for storing a boat...I told the broker that I'm in no hurry and if the seller he doesn't want to sell, fine...Maybe I'll be back next spring, and if she's still here, I'll offer a little less $$$ (for depreciation) on top of the owner's loss of winter storage and spring clean-up maintenance...I know that may sound harsh, but it's a fact of life; storage, clean-up, depreciation, etc adds up...
 
 The broker was also showing me other boats (J-35's for instance) listed at $60K-$70K, and said he knows the seller will take $40K-$45K...And it wasn't just a one boat deal; he showed me 4 or 5 other makes and models and said the same thing...I still think the economy has taken it's toll on some/most of us...
 
 As far as using a broker...Yes they cost $$$, but I don't think it's much different than selling a house...A good Broker will get your ad everywhere, then be available to show her when needed...You could save $$$ doing it yourself, but you better be ready to spend a lot of time getting the ad out there, then have plenty time to show the boat ANYTIME a perspective buyer calls...A busy schedule, business trips, or vacation could mean a lost sale...
 
 FYI; I heard a broker in Norfolk say he knows of people lined up for good, clean C34's...A friend of mine sold his '91 C34 last summer in 3 days for about $55K...
 
 Hope This Helps,
 Tom
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Terry

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1986 C 34 Values
« Reply #6 on: April 14, 2003, 08:19:47 PM »

Consider the internet.  I've used boattraderonline.com, sailboatowners.com, or boats.com.  That was a few years ago and we also have some regional ones like I'm sure you do as well.
 
 When you look at the prices on NADA, you'll find they're a little on the low side.  Don't sell using NADA.  Again check out the pricing on the internet before you set your pricing.  That's where the surveyor will do his research to determine the price of your boat.
 
 Lastly, I specifically wanted a 34' Catalina with a wing keel.  Difficult to find - only 3 in the Midwest.  So, with a 34' you'll have limited competition.  If someone has no preference between a 34' or a 36' - then you'll have some competition.  But we chose the 34' over than the 36'; as many will do.
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rappareems

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1986 C 34 Values
« Reply #7 on: April 15, 2003, 06:31:06 AM »

Vicky,
 
 We purchased our '86 #232 in 2001 paid $48 (asking $52). "Excellent" survey. Everything went with the boat seller was leaving boating. The boat surveyed at $38 to 40 which was based on book. So Your surveyor price may be low.  This was a freash water boat, Lake Ontario.  I should think mid $40's is not unfair.
 
 Mark Cassidy
 #232 1986
 "Rapparee"
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Mark Cassidy
#232 1986
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Lake Ontario

rirvine

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1986 C 34 Values
« Reply #8 on: April 16, 2003, 03:50:43 PM »

Check the prices on this site - there are some 70 C34 listed of all ages
 
 http://www.sailingsource.com/boatsforsale.htmlw
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