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I sold my boat about a month back, 2001 wakesetter vlx for 20K. Boat was in great shape, no issues, everything runs perfect, motor is strong. I absolutely know the value was there because my phone was going nuts when I put it up for 21K. I never paid a whole lot of attention to the hour meter - didn't even check it when I bought the boat, in fact I don't even know which gauge it's on. Previous Owner told me there were about 550 hours on it and the gauge was replaced with a different one - I don't know if it shows hours low or doesn't have hour meter at all. I estimated my 2 summers with the boat at 50 hours each for a total of 650 hours so I advertised it at "approx 650 hours".
I hold the boat on good will for a guy to come down and test drive, look at it, crawl around, etc. Everything looks good, sale complete. Now he calls me last week and says he had the hours checked on the motor and they're reporting at 740-ish after he put 20 hours on it. I never deliberately lied about the hours or answered questions untruthfully. So what's 70 hours worth? He thinks I should send him 500 bucks. I really don't feel like I defrauded him or anything....if he had checked the hours before purchase and offered 19500, I would have declined. I had other very interested parties.
I feel like my only option here is to offer to buy back the boat at the selling price of 20K even with the extra hours on it and sell it to one of the other parties ready to buy. It looks like he's got it up for sale for 26500 on boattrader, so he knows the value is there too.
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