Is My Friend Making $ On Me Buying His Hot Springs Tub?

[leftylenny]

my friend is relocating out of town due to a change in job. He purchased a Hot Springs 'Sovereign' model new from a dealer in June 2006. My wife and I have had the pleasure of enjoying a soak from time to time - we know the tub well and can say that it has been well maintained. He has offered the tub + GFCI panel + approx. 60ft of 220 wiring + moving of tub across town via 4 man moving company crew for $5000 all in. My wife has kind of jumped the gun on me and accepted.

I have tried taking a quick look online to find other comparable tubs to get an idea on price point but am having trouble.

New to the hot tub ownership world and would appreciate any opinion on whether I am overpaying or not!! You know what they say about doing business with friends......

[hottubdan]

my friend is relocating out of town due to a change in job. He purchased a Hot Springs 'Sovereign' model new from a dealer in June 2006. My wife and I have had the pleasure of enjoying a soak from time to time - we know the tub well and can say that it has been well maintained. He has offered the tub + GFCI panel + approx. 60ft of 220 wiring + moving of tub across town via 4 man moving company crew for $5000 all in. My wife has kind of jumped the gun on me and accepted.

I have tried taking a quick look online to find other comparable tubs to get an idea on price point but am having trouble.

New to the hot tub ownership world and would appreciate any opinion on whether I am overpaying or not!! You know what they say about doing business with friends......

It totally depends on where you live. Check local Craigslist. That is where you will learn the going rate.

On the other hand, you have the peace of mind of knowing who you are buying from and what the service and care history of the spa are.

[JimKW]

The moving of it and electrical hookup is probably worth about $1,000 by itself, assuming he is also paying for the electrician to hook it up for you.

[DK117]

my friend is relocating out of town due to a change in job. He purchased a Hot Springs 'Sovereign' model new from a dealer in June 2006. My wife and I have had the pleasure of enjoying a soak from time to time - we know the tub well and can say that it has been well maintained. He has offered the tub + GFCI panel + approx. 60ft of 220 wiring + moving of tub across town via 4 man moving company crew for $5000 all in. My wife has kind of jumped the gun on me and accepted.

I have tried taking a quick look online to find other comparable tubs to get an idea on price point but am having trouble.

New to the hot tub ownership world and would appreciate any opinion on whether I am overpaying or not!! You know what they say about doing business with friends......

Spatech will need to respond to your question, but it goes something like this. Spa's lose up to 30% of their value when going from new to used, then $1000 a year after that until they hit the $500 or free if you haul price point. You're looking at a nice, although 4 year old tub. $5000 seems a bit steep. Half that maybe $3K might be in order. Remember you're not getting a used dealer tub with a warranty.

Just one person's opinion, let a few more folks respond before you tell off your "friend."

DK117

[Tubber McGee]

The moving of it and electrical hookup is probably worth about $1,000 by itself, assuming he is also paying for the electrician to hook it up for you.

---------------------------------------------------------------------------------------------------

Seems on the high side to me as you can get a new one for $7500 in my area! I would rather pay a little extra and have the piece of mind of a good warranty standing behind me!

Some dealers can correct me if im wrong - but you can not transfer the warranty on the Hot Springs! being that the tub is 4 years old - you may (may) be coming into replacing some expensive parts!

Good luck!

[arnspa]

LL, We have a Nordic Track Skier my has wife's not used in 8 yrs. They sell for $800 today. Because she paid a friend $500, (and I renewed the vinyl hip pad and drawcords) she thinks it's worth $300. It's not. I couldn't sell it on Craigslist for$100. And Goodwill won't even take it.

You may be looking at the other end of a 'sweetheart' deal. (My wife could have got it a lot cheaper at a yard sale than from a friend!) The NEW price may be no clue to used value.

Are there spa appraisers out there? You should at least shop around. Unless that is, that you been over to your pals' for years sucking up their liquor, BBQ, tub expenses, camaraderie and you're happy to help pay their moving costs.

[spatech (the unreal one)]

Spatech will need to respond to your question, but it goes something like this. Spa's lose up to 30% of their value when going from new to used, then $1000 a year after that until they hit the $500 or free if you haul price point. You're looking at a nice, although 4 year old tub. $5000 seems a bit steep. Half that maybe $3K might be in order. Remember you're not getting a used dealer tub with a warranty.

Just one person's opinion, let a few more folks respond before you tell off your "friend."

DK117

I personally think a good estimate on used spas (assuming average condition) purchased from the spa owner (not a dealer) is they lose about 40% of their value the first year (like a new car that leaves the lot plus the warranty does NOT transfer), about 15% the second and about 5% per year thereafter until they get to be about $500 or often "free to whoever will take it" though many hit the "free" point earlier based on condition.

The moving cost for the spa with 4 people varies and is not a throw in, call a spa mover to get an idea of what they would charge and factor that in. The electrical is obviously not a throw in either so while the $5k may seem a bit on the high side it may not be as high as it first appears.

Even though this is a friend I would get things in writing and if you go for the $5k price I might include something like "the final $500 will be held aside until the spa is hooked up and shown to be in full working order". Spas don't always like to be moved, even newer ones like this. Be prepared ahead of time in case something does not operate properly when you fire it back up.

[arnspa]

DK117

Even though this is a friend I would get things in writing and if you go for the $5k price I might include something like "the final $500 will be held aside until the spa is hooked up and shown to be in full working order". Spas don't always like to be moved, even newer ones like this. Be prepared ahead of time in case something does not operate properly when you fire it back up.

You think $500 might cover any problems? I would say ALL should be held until it's working. Wouldn't any 'friend' agree to that?

[hot_water]

my friend is relocating out of town due to a change in job. He purchased a Hot Springs 'Sovereign' model new from a dealer in June 2006. My wife and I have had the pleasure of enjoying a soak from time to time - we know the tub well and can say that it has been well maintained. He has offered the tub + GFCI panel + approx. 60ft of 220 wiring + moving of tub across town via 4 man moving company crew for $5000 all in. My wife has kind of jumped the gun on me and accepted.

I have tried taking a quick look online to find other comparable tubs to get an idea on price point but am having trouble.

New to the hot tub ownership world and would appreciate any opinion on whether I am overpaying or not!! You know what they say about doing business with friends......

I doubt if I would pay that much for a four year old tub. I'm seeing a lot of very aggressively priced used tubs in my area, probably due to the poor economic conditions.

For reference, a new GFCI box is $100 at Lowe's or Home Depot. A used one should not command full price, since GFI breakers do go bad. You'll find out that in most cases the replacement breaker actually costs more than HD or Lowe's gets for the entire box. Sounds from your description like the wiring is being coiled up and handed to you? If the wire is going in a conduit, make sure it is dual rated THHN/THWN. IF it's direct burial (ugh) make sure it's the right stuff.... some people bury Romex which is not approved, will never pass inspection and just simply should not be used. In any case, check out the per-foot price for that wire. Keep in mind that if you need more wire than 60 feet, you will either need to add an accessible junction box in the run or get new wire anyway. Most of the cost will be in getting the conduit run dug (you can do this if you're so inclined) and then a bit to have an electrician do the hookup. Locally here (No. CA) you can get local moves from three or four different bonded movers for $250, assuming no crane is needed.

You may also need a permit to install the tub. This can open a can of worms. For a new installation, depending on your locality, you may be rquired to do some things that could be expensive. You should check with your local planning department.

[leftylenny]

wow.....thanks everyone for your value added comments. Lots of valid points to consider.

FYI

I am located in southern Ontario, Canada. I have yet to see the original bill of sale however my friend indicates he paid close to $12000 all in (taxes, delivery, demo etc) from dealer in June 2006. I have called a local Hot Springs Dealer and have priced the same unit today @ $10,500. Simple fact here is that Hot Springs and Caldera are US manufactured and the CAD $ is pushing par with USD $. That quickly explains the lower price today.

I have contacted a couple of local spa companies and have been quoted $650 - $750 to relocate the tub. No electrical....just a simple move. So yes.....I agree the moving + GFCI + wiring probably represents $1000 of cost.

Given depreciation estimates in thread maybe it is looking more of fair deal than I thought.

[DK117]

wow.....thanks everyone for your value added comments. Lots of valid points to consider.

FYI

I am located in southern Ontario, Canada. I have yet to see the original bill of sale however my friend indicates he paid close to $12000 all in (taxes, delivery, demo etc) from dealer in June 2006. I have called a local Hot Springs Dealer and have priced the same unit today @ $10,500. Simple fact here is that Hot Springs and Caldera are US manufactured and the CAD $ is pushing par with USD $. That quickly explains the lower price today.

I have contacted a couple of local spa companies and have been quoted $650 - $750 to relocate the tub. No electrical....just a simple move. So yes.....I agree the moving + GFCI + wiring probably represents $1000 of cost.

Given depreciation estimates in thread maybe it is looking more of fair deal than I thought.

So there you go. $3000 fair price of the tub, $1000 fair price of move plus electical. Question is, how much is the awkward conversation with your wife and friend going to cost you? $1000?

Sorry if I'm coming off as an ass. In fact I've been known to avoid conflict like this for a like amount. But to be practical, this guy is moving out of town. He's asking a premium from a friend. $5000 isn't a BAD deal, but it's not a good deal either. In this economy you're doing him HUGE favor. If you can stomach the conversation, at least ask him for $1000 off the $5000 deal.

Good Luck, you're going to love the tub. But how much more would you like the tub and one of these? http://www.traegergrills.com/grills/texas.cfm

DK117

[spatech (the unreal one)]

[

I am located in southern Ontario, Canada. I have yet to see the original bill of sale however my friend indicates he paid close to $12000 all in (taxes, delivery, demo etc) from dealer in June 2006. I have called a local Hot Springs Dealer and have priced the same unit today @ $10,500. Simple fact here is that Hot Springs and Caldera are US manufactured and the CAD $ is pushing par with USD $. That quickly explains the lower price today.

I didn't realize we were talking Canadian $. That makes the $5k for the spa, electrical and moving sound reasonable. Since you are friends, I'd still make some kind of agreement where 10 or 15% of the price is withheld to be sure that everything fires up and works properly.

[DK117]

[

I am located in southern Ontario, Canada. I have yet to see the original bill of sale however my friend indicates he paid close to $12000 all in (taxes, delivery, demo etc) from dealer in June 2006. I have called a local Hot Springs Dealer and have priced the same unit today @ $10,500. Simple fact here is that Hot Springs and Caldera are US manufactured and the CAD $ is pushing par with USD $. That quickly explains the lower price today.

I didn't realize we were talking Canadian $. That makes the $5k for the spa, electrical and moving sound reasonable. Since you are friends, I'd still make some kind of agreement where 10 or 15% of the price is withheld to be sure that everything fires up and works properly.

Spatech, the currencies are almost the same now. $1 dollar = 1.0271 loonies as of today. Many expect the loonie to be worth more than a dollar by mid year.

DK117

[thinkxingu]

I'm assuming he's a pretty good friend if you've all tubbed together, so hook him up for God's sake! 1. you know the tub and have used it, 2. it will make his life easier, and 3. it seems he's being fair.

S

[Eric W.]

From what I've read on this forum and elsewhere, the electrical hookup alone can cost at least $650-$750 US alone by a licensed electrician. For the materials alone I spent around $250 just for the GFCI and everything needed for the electrical hookup. My friend is an electrician so it cost me a pot of coffee, a couple of beers and a steak dinner.