Alan Payne 51 in Oz

[TheEarleys]

Hey there,

We’re new to this site and cruising. My wife and I have both sailed a fair bit in our younger days and now want to go cruising in the next 18 – 24 months. Mainly East Coast waters and then on to the Pacific.

We have been researching boats, cruising, living aboard and updating our skills this year and have enjoyed the experience shared on this site immensely.

Here’s the thing, we have two kids we have shared care of so we need a fairly large yacht to accommodate us and that we can liveaboard for an extended period. After looking at numerous boats we came across an Alan Payne designed 51 footer that is in good condition and fits our criteria. Three cabin, very seaworthy, large water and fuel capacity, heaps of storage etc. The owners are German residents who bought her three years ago for a pacific cruise which they did and have now returned home.

The boat has been on the market since December ’10 with little interest we believe. She is listed at $149K however the broker has indicated we should make an offer as the owners are very keen to sell. We are thinking of making an offer but really have little idea of what would be a reasonable price. It seems there are lots of boats for sale and few selling. This would indicate to me either a very weak market or they are mostly overpriced or both.

The aussie dollar has also increased substantially against the euro since they purchased her so the are on a win there when they do sell although what they may have paid for her is probably irrelevant now.

Any help or comments would be much appreciated. Here is a link to the brokers site that may help. Thanks


51' Alan Payne Steel Cutter For Sale

[GordMay]

Greetings and welcome aboard the CF, TheEarleys.

[Jim Cate]

G'Day, EArlys,

Welcome to CF.

I can't help you estimate the value of this yacht, but do have a couple of general comments.

If the photos are current, it appears well maintained, at least cosmetically. The Gardner engine is a big plus, if it has had even meager maintenance, for they are bullet proof, forever sorts of beasts. They're heavy for their output, but on a vessel like this it isn't so important..

The interior seems quite tidy, with one exception: the wiring around the nav station looks quite untidy, and pretty amateurish. This leads one to wonder about the wiring in less accessible spots. This can be a big worry on a metal boat, where leakage currents can lead to destructive electrolysis. One should have a competent surveyor, one who is quite familiar with steel construction, have a very close look for internal corrosion, for this is where steel boats are most vulnerable.

Finally, a big and very heavy boat like this requires a large sail plan to move her along. The sailing loads (sheets, halyards, etc) are large, and if the deck hardware isn't of adequate size it could prove to be a hard boat to manage for a small crew.

Hope that this is of help, and that you succeed in finding the boat best suited to your needs and abilities.

Cheers,

Jim

[S/V_Surya]

You need to get a survey of the vessel. The surveyor should have a market price based on his observations. You can then make an offer from there.

[Nauticatarcher]

I see in Yacht Hub Broker is asking for best offer over $99 000, seems to me that is selling price

[Unicorn Dreams]

Welcome Aboard Cruisers Forum

[Johnathon123]

Hi and welcome.

As people always say to me, it is worth what the buyer will pay. In your case you are the only buyer for quite some time, therefore it is worth what you would pay. Will the vendor accept? That depends on how desperate they are and how reasonable you are.

In my travels I have had 2 brokers tell me about this boat and how good a deal it would be, i just do not want a cc.

In both cases under $100k "would probably do it", one suggested mid 80's.

Not aure if that helps.

[TheEarleys]

Yes, thanks Nauticatarcher, just saw that. Also had an email and a call from the broker. Not sure how genuine this is. That is whether the owners have genuinly reduced their expectation in order to obtain a sale or whether the broker is just employing a different technique to stir up some interest. My thoughts are that that figure is pretty close to the mark.

[Boracay]

A few random thoughts:-
* can you see the hull interior? I'm thinking in getting a torch and a couple of different sizes of inspection mirror and taking a really good look. This is the key issue with a steel boat.
* What gear comes with the boat? It presents beautifully now, but take all the goodies off and these is not much left.
* LOA is 51' but what's the beam and LWL. Looks like a lot of overhang, and from memory, the Paynes were fairly narrow. Could have a fair bit of draft as well.
* I may have my designs mixed up but from memory similar boats have had the bow bulwarks extended to keep them a bit dryer. It could have some heel in some conditions.
* I don't follow the market closely so the value is very hard to judge. As a buyer you could have been following it for a while so you could no more than most.
* Beneteau 423's and Jeaneau 45.2's out of charter in the Caribbean look have an asking price in the $120-123K range, plus whatever it takes to get there and to put them into cruising trim. These would be way easier to sell if you got them back to Oz.

[TheEarleys]

Hey thanks Boracay,
Was just reading your tips on buying a steel boat "Rust never sleeps" very helpful thanks. I'm off to have a more thorough look at her tomorrow. From memory accesibility is pretty good but will take my mirrors, torch and trusty panel hammer. Let you know on that one.

[stillbuilding]

I do not know this yacht specifically but Alan Payne boats can usually sail pretty well and this one seems pretty nicely done, if a bit dated. Might need a cosmetic refit. Nice to have that motor.