What's the right price

[Stuart 28-2]

I want to list my 1988 Ericson 28-2. Looking at other listings doesn't help much as there is too much variation. I will probably list it on FB marketplace. Looking for opinions on what I can expect to get for the boat. It's fine for day sailing right now. That's all I have done with it on fresh water. Could stay overnight one night if okay to rough it a bit. Would need some work to do beyond that and I wouldn't take outside on salt water without pulling her out of the water to make some inspections and get some work done. See photos

 

[AK67]

Tough to say. Very much depends on your local market. I'm in Maine and paid 9K ish for my 86 2 years ago, which included a credit for a rebuild of the rudder. Had also been recently repowered with a Yanmar. Was listed for $14K, I think. Fresh water will help your value. Interior looks fairly typical for age; engine, sails, head, etc. will all factor in. Very clean looking 88 E28-2 here was listed for $16,900, but if yours really is only fit for day sailing, then that's also kind of your comp market.

 

[Christian Williams]

I would say that the starting point is what you paid for it. That market price was established by the prior buyer--you.

 

[Bolo]

Just curious, but do your fixed ports still leak? I can see ”water stains” on the teak and that’s the first thing that caught my eye. I‘d try to get rid of or reduce those stains for the sale. Other than that the boat looks in decent shape. This may not make much sense, but hear me out. I recently sold our house of 28 years and as you can imagine pricing has gone up since when I purchased it. Over the years I did a lot of up grades, maybe too many but we did them for our comfort and enjoyment. When it came time to sell our realtor looked at the most recent sold prices of similar homes nearby. Using that and taking in account our improvements (which made our house the nicest on the street) he came up with an asking price that was a bit less than expected but we sold it for around that price. So, I think sailboats are like houses. How much are similar boats in you area being sold for would give you a better understanding as to how much to ask. Having the nicest boat in the marina doesn’t necessarily mean that you’ll get some of your improvement money back.

 

[Stuart 28-2]

I would say that the starting point is what you paid for it. That market price was established by the prior buyer--you.

It's in much better shape than when I bought it.

 

[Christian Williams]

We rarely get those costs back.

 

[AK67]

Just curious, but do your fixed ports still leak? I can see ”water stains” on the teak and that’s the first thing that caught my eye. I‘d try to get rid of or reduce those stains for the sale. Other than that the boat looks in decent shape. This may not make much sense, but hear me out. I recently sold our house of 28 years and as you can imagine pricing has gone up since when I purchased it. Over the years I did a lot of up grades, maybe too many but we did them for our comfort and enjoyment. When it came time to sell our realtor looked at the most recent sold prices of similar homes nearby. Using that and taking in account our improvements (which made our house the nicest on the street) he came up with an asking price that was a bit less than expected but we sold it for around that price. So, I think sailboats are like houses. How much are similar boats in you area being sold for would give you a better understanding as to how much to ask. Having the nicest boat in the marina doesn’t necessarily mean that you’ll get some of your improvement money back.

Agree with this take. A quick non-Ericson note on brokers and pricing: In my experience, realtors will list on the lower side of fmv to make a quicker sale. Means less work, and increases their stats on how quickly they sell houses, while the impact on commission is negligible. My usual recommendation to clients is to add 10%+/- to the suggested listing price.

 

[Bolo]

We rarely get those costs back.

So true. In that respect boats differ from houses.

 

[Bolo]

Agree with this take. A quick non-Ericson note on brokers and pricing: In my experience, realtors will list on the lower side of fmv to make a quicker sale. Means less work, and increases their stats on how quickly they sell houses, while the impact on commission is negligible. My usual recommendation to clients is to add 10%+/- to the suggested listing price.

When we put our old house up on the market we did just that but we were also thinking about all the $$$ we spent making h the house much nicer than the day we built it. Boats are a different story. The improvements made are for yourself and not to make more money later on when you sell.

 

[Loren Beach]

Boats are a different story. The improvements made are for yourself and not to make more money later on when you sell.

So True. Especially for instrument systems and many electronics items. Moreover, those useful improvements have little market "value" after about the first 7 to 10 years max. Many vendors will not support them at all after that age, preferring to talk the customer into a new 3K to 5K system instead.
Speaking of houses, when we did a major remodel of our house interior about 16 years ago, the vendors for the new kitchen appliances told us that , due to built in sensitive micro chips and controls, we should not expect them to function reliably beyond a decade. (So far, so good...)

 

[Frank Langer]

But a boat with improvements or regular maintenance with parts replaced, and cosmetically on good shape will fetch a better price than otherwise, so you will get some of that investment back.
Frank

 

[AK67]

When we put our old house up on the market we did just that but we were also thinking about all the $$$ we spent making h the house much nicer than the day we built it. Boats are a different story. The improvements made are for yourself and not to make more money later on when you sell.

Absolutely - you have to look at it as enhancing your own enjoyment and experience, not as an investment. It's still a hole in the water!