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Chris Z
Captain

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452 Posts
Initially Posted - 10/27/2010 :  07:02:16  Show Profile  Visit Chris Z's Homepage
I am going to look at this Pearson 31 this weekend and thinking this may be my next boat. I was wondering what people think of the asking price.

http://minneapolis.craigslist.org/hnp/boa/1992922843.html
Chris Z.
Water Warrior
1982 Force 5

Former Owner Blown Away - C25
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Stinkpotter
Master Marine Consultant

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Djibouti
9081 Posts
Response Posted - 10/27/2010 :  07:29:46  Show Profile
The '87s in Yachtworld.com are <i>asking</i> from $19K to $40K, so this one is in the upper end of that range. (The 19 is an outlyer.) '87 Catalina 30s are listed mostly under 30. It's a buyer's market, especially at this time of year. Also, this seller is apparently avoiding 10% brokers fees--he's not on Yachtworld. I'd start well below 30 and indicate an unwillingness to go above 30. And be sure to make the deal contingent on a survey. If the seller balks at that, run.
Edited by - Stinkpotter on 10/27/2010 07:30:51
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Steve Milby
Past Commodore

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USA
5902 Posts
Response Posted - 10/27/2010 :  07:53:20  Show Profile
I agree that the asking price is high, but it appears to be a nice boat, and you shouldn't be afraid to pay a little more for one in good condition with a good, low-hours motor. It's much cheaper to buy a boat in good condition than to buy a boat in poor condition and restore it.
Edited by - Steve Milby on 10/27/2010 07:55:17
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Stinkpotter
Master Marine Consultant

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Djibouti
9081 Posts
Response Posted - 10/27/2010 :  13:27:27  Show Profile
It does look nice, and I've sailed on and been impressed by a Pearson 31 that was new back around 1987. But if this owner went through a broker at $38K, which is well up there among brokered boats, he'd only get about $34K if somebody gave him the asking price. Rarely does a boat like this go for less than 10% below asking (in my experience), so $30K is about as high as he should expect to net using a broker (which significantly limits is market), and in this market he shouldn't expect more by selling himself. The reason why people use brokers is to expand their market through the network of brokers (and Yachtworld)--not just to avoid having to show the boat.

Also, while some of the electronics and gear sound fairly complete, they might not be the latest and greatest. Even a VHF is due for replacement if it isn't a DSC radio (unless you're on an inland lake). The custom cover is a plus.
Edited by - Stinkpotter on 10/27/2010 13:32:56
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Chris Z
Captain

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452 Posts
Response Posted - 10/27/2010 :  13:53:34  Show Profile  Visit Chris Z's Homepage
He is not using a broker today. It would be a private sale.
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Steve Milby
Past Commodore

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USA
5902 Posts
Response Posted - 10/27/2010 :  15:10:56  Show Profile
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by Chris Z</i>
<br />He is not using a broker today. It would be a private sale.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">The best deal is a deal that's good for both parties. I wouldn't give any thought to whether he's using a broker. The only thing that matters to the buyer is whether the boat is a good value. By not using a broker, the seller reduces the expense of his sale. If he's willing to share that savings with the buyer, he might be able to use it to put together a deal that is a good one for both parties. It all depends on the seller's attitude.
Edited by - Steve Milby on 10/27/2010 15:11:53
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hinmo
Navigator

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USA
248 Posts
Response Posted - 10/27/2010 :  15:11:57  Show Profile
$30K +/-
been thru the market myself lately. Bought a Cat 34, 1989 for less than the asking of the Pearson.
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Stinkpotter
Master Marine Consultant

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Djibouti
9081 Posts
Response Posted - 10/27/2010 :  15:12:49  Show Profile
That's apparent. So he shouldn't expect as quick a sale or a deal as high as he would get with professional marketing. Yachtworld, for example, is for brokers only. It generally turns out that you get what you pay for. Sellers of big-ticket items like homes and yachts who think they'll "save the cost of a broker" generally will be disappointed.
Edited by - Stinkpotter on 10/27/2010 15:16:09
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two port feet
1st Mate

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77 Posts
Response Posted - 10/27/2010 :  19:03:44  Show Profile
The bigger boat the bigger your repair and monthly cost. I like the Catalina 25 it reliable, always ready to sail, easy to step the mast, an tailorable. you'll miss her after she's gone. A new "to you" boat like a new shoes takes time to brake in. Good luck.
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Stinkpotter
Master Marine Consultant

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Djibouti
9081 Posts
Response Posted - 10/27/2010 :  19:54:27  Show Profile
Yup--everyone has their own priorities, interests, and desires. Some people would say the same about moving up from a 17-footer to a 25 (as I once did).
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two port feet
1st Mate

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77 Posts
Response Posted - 10/27/2010 :  23:24:59  Show Profile
As far as price goes I picked up a Sabre 28, by the time she's in the condition of your potential Pearson 31 appears to be in. I should have about $25K invested. Not counting all the time your out sailing, I'll be working on my boat. Yours is a little wider an has three extra feet in length. That figure to about $4,333.00 per foot. But the Pearson looks like a real nice boat. I feel If it make you happy then its the right boat. Be careful what you wish for, it just mite come to be. Good luck.
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Notice: The advice given on this site is based upon individual or quoted experience, yours may differ.
The Officers, Staff and members of this site only provide information based upon the concept that anyone utilizing this information does so at their own risk and holds harmless all contributors to this site.