Question:
Boat Buying Sailboat
I have been doing research on boat purchasing.
It has been suggested that the NADA values of boats are relative to
the asking price and not the actual selling price. As I understand
that these values are provided by the brokers and therefore - the
greater the price the more the commission - I wouldnt know if this was
the practice or not. Although I dont think that on the average older
26 ft sailing crusier it would make a difference.
What is considered the average lenght of time it takes to sell a older
26 ft sailing crusier?
Many of the boats I have seen lack any detailing. Namely, it can be
seen by how clean the heads floor is.
Most boats at the 20 year mark probably need:
- rudder rebuild
- standing rigging replacement
- running rigging replacement
- bottom paint
- motor maintenance or replacement
- battery replacement
- many have original sails
- cushion replacement and uphostering
- port lights
The most signicant would be deck moisture or delamination. On a older
26 ft sailing crusier that needed a recore what would you figure as a
price of this repair and how much would or should it effect the
purchase price?
How would you figure what the value of a boat was given the above or
combination thereof?
Would the cost be:
-what it would cost to have a third party do the work like the Yard
Or
-would you figure what the cost of the parts are and not consider the
value of the work that you would do yourself.
How would you determine what the actual worth of the boat is?
As a percentage, is there a standard that you would use to make an
offer less than asking price?
Answer:
-you want to buy a great old boat, buy this
http://www.clic.net/~dcooper/hinterhoeller/commun/nike%20a%20vendre.htm
boat is located just outside Windsor, Ontario on the Detroit River
no relation to seller
-Some comments on the list of probable repairs:
Rudder rebuild: The survey should tell you if you need a rudder
rebuild. I bought a new rudder for my 33 ft boat and that cost $ 800.
Standing rigging replacement: If the rigging has not been replaced it
is high time after 20 years in salt water. I replaced my standing
rigging one shroud at a time, without taking the mast down. Cost $500.
If you take the mast down it probably doubles.
Running rigging: Depends on condition, but not a high cost item
Bottom paint. Maybe this can be done during the survey? But it
certainly will have to be done.
Motor maintenance or replacement: A rebuild diesel or a new one may
cost up to $8000. So I would not buy a boat where the diesel needs
replacement. Routine maintenance ( oil, filters, zincs, fliuds ) will
need to be done. A boat with a bad engine is a "project boat"
A new deep discharge battery can be bought for $50 to $80. So this is
minor.
Sails are often blown out and need to be replaced. For a 33 ft boat new
sails cost $4000. But i used the old ones for a year and then replaced
them, what a difference!
Cushions are cosmetic. I recovered mine myself for $400 in fabric.
In summary, I would not touch a boat that needed serious engine work or
that had serious delamination. Boats with those problems are project
boats and sometimes sre not worth getting unless you are really into
this kind of work.
The other items are relatively less important and you can simply
discount the price of the baot for that.
