Banks are nuts!! Asking prices on repo's...

[teamsynergy]

Well today I went and looked at a OL 42'. Has twin 825HP Sterling's and #6's. Boat was dirty and a 6.5 out of 10. It does come with a NICE myco though... But, didn't even get an offer put in as there was no ladder or anyhting to check out the inside... and the sales guy had no idea on the particulars...

Anyway, what is up with banks? This boat is a repo and they were asking 249k for it... In this market, I am thinking that if I offered 150k they might take it.

 

[old377guy]

what's it hurt to make an offer?

 

[MILD THUNDER]

Make a low offer Todd. Real low. Most banks have no clue about a boats real market value. They know what is owed and what the book says. Bring up how much it will cost to freshen engines, interior work, cosmetic work, etc. Then show them some comps of clean, fresh, non repoed 42 OL's. They don't realize you might have to stick 100g in it to make it right.

 

[teamsynergy]

I agree.. gonna head back this week to get some interior looks... hmmm.. the wife would kill me but its an OL... and a decent one!!!

Then again, I may wait till the end of summer and see if they still have it... I would think they would really want to move it before the end of the season....

 

[Ratickle]

Banks are weird on repo sales. I t took years for the 41 Saber up here to sell at a reasonable market price. And they had decent offers on the books for most of those years.

 

[teamsynergy]

That's how I aquired the sonic... Low ball bid and they took it. I was shocked!!!!

I think I am going to make an offer on it this week... If you michigan guys don't see me at the beach, start digging in my back yard as the wife killed me lol....

 

[Ratickle]

That's how I aquired the sonic... Low ball bid and they took it. I was shocked!!!!

I think I am going to make an offer on it this week... If you michigan guys don't see me at the beach, start digging in my back yard as the wife killed me lol....

They rarely kill you......



But you may go without for a few months........:bump:

 

[old377guy]

They rarely kill you......



But you may go without for a few months........:bump:

This from experience?

 

[Bobcat]

Without what ?

 

[Ratickle]

This from experience?

:smash::boxing_smiley::smash::boxing_smiley::smash:



:sifone:

 

[Ratickle]

Without what ?

You must have forgotten.........:lurk5:

 

[old377guy]

You must have forgotten.........:lurk5:

his secondary virginity may have kicked in by now

 

[Bobcat]

I got too hand it to me !

 

[old377guy]

Nobody else will.......:bump:

 

[Awaken]

Anybody ever deal with Grande Yachts International? http://www.grandeyachts.com/our_company.htm
They are a boat dealer and they specialize in bank repos. One just opened in Maryland where the Formula Dealer (Full Tilt) use to have a show room (until they went out of business). Not sure how their business plan works but my guess is you will pay more since they are in the business.

 

[Ratickle]

They certainly look to have an inventory with some decent priced listings...