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Old 28-09-2011, 00:10   #1
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Looking to Buy 45-50' S/V in Bristol Condition

Newly retired couple looking for a spacious home on the water fully equipped for voyaging and self-sufficiency.
Prefer FRP but open to an exceptionally well built Steel or Wood Hull for an equally exceptional cash price. Must be on the East Coast of the US (or the loop), preferably in Florida and we are looking for a US registered Vessel.
Willing to close the deal with cash between Feb-April 2012. Looking for the right deal until then.
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Old 28-09-2011, 07:08   #2
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Re: Looking to Buy 45-50' S/V in Bristol Condition

Sail or power? Budget range?
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Old 28-09-2011, 07:56   #3
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Re: Looking to Buy 45-50' S/V in Bristol Condition

"spacious home", "FRP or steel or wood", "exceptional cash price

There are a lot of blanks to fill in before you'll get much feedback on that. And that "exceptional cash price" will mean more when you have the cash to actually offer said cash.
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Old 28-09-2011, 08:03   #4
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Re: Looking to Buy 45-50' S/V in Bristol Condition

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Sail or power?
The "S/V" in the thread title indicates a sailing vessel.
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Old 28-09-2011, 08:39   #5
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Re: Looking to Buy 45-50' S/V in Bristol Condition

As mentioned in a previous reply, without some idea of your budget, the question is completely open ended and almost impossible to answer.

For example, a Hinkley worth $1,000,000 would be an exceptional cash deal at $500,000 but if your budget is only $250,000 then it's moot.

Then if your budget is $25,000 your chance of finding a well found, ready to go cruiser 45-50' is unlikely.
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Old 28-09-2011, 10:35   #6
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Re: Looking to Buy 45-50' S/V in Bristol Condition

Budget is my concern. In todays terms there are a LOT of boats that "Survey" for $500,000 that are stagnating on the market while costing their absent owners 2-4000 per month. Meanwhile their 401K's are stagnating as well or their retirement plans are cancelling health insurance coverage for the entire group.
I have seen a lot of 250-800 K Yachts reluctantly sold for 60-250K in the past five years.
And if we did not have the cash to offer we would not be looking " Pamlico ".
S/V Liberty in USVI just went for 80K. A Beautiful FRP Restored, 52' John Alden Malabar that had been for Sale for over five years, for one example. It Started at 300k
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Old 28-09-2011, 10:52   #7
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Re: Looking to Buy 45-50' S/V in Bristol Condition

A couple examples of sailboats you like might help attract someone. For awhile there was a handsome wood sailboat at the Las Olas city docks, but I do not see her in the mls anymore.
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Old 28-09-2011, 10:53   #8
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Re: Looking to Buy 45-50' S/V in Bristol Condition

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Originally Posted by silkyblue View Post
Budget is my concern. In todays terms there are a LOT of boats that "Survey" for $500,000 that are stagnating on the market while costing their absent owners 2-4000 per month. Meanwhile their 401K's are stagnating as well or their retirement plans are cancelling health insurance coverage for the entire group.
I have seen a lot of 250-800 K Yachts reluctantly sold for 60-250K in the past five years.
And if we did not have the cash to offer we would not be looking " Pamlico ".
S/V Liberty in USVI just went for 80K. A Beautiful FRP Restored, 52' John Alden Malabar that had been for Sale for over five years, for one example. It Started at 300k
Understand from your first post that budget and a great deal is your concern. And there are some really good deals out there, though I have not seen or heard of any boat that was realistically valued at $250-$800 K sell for $60K. Maybe one that was grossly over-priced or a total project boat that might be worth $250K after the restoration.

However, assuming you do find such a deal, you still don't say how much you have budgeted to spend on a boat.

Again an example. If I happened to know about a $1,000,000, 2 year old Hinkley in perfect condition for $200,000 (which I don't) that's a fantastic deal but are you able/willing to spend that much money or are you looking for a $60,000 deal. Very big difference.
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Old 28-09-2011, 11:01   #9
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Re: Looking to Buy 45-50' S/V in Bristol Condition

If you can get a 50 footer "fully equipped for self sufficiency and voyaging" for 80K go for it. How did you miss s/v Liberty? You hear of these "deals" now and then but I have yet to see one. Most of the boats my friends bought for 80K needed another 80K before you could realistically go cruising.
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Old 28-09-2011, 11:13   #10
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Re: Looking to Buy 45-50' S/V in Bristol Condition

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If you can get a 50 footer "fully equipped for self sufficiency and voyaging" for 80K go for it. How did you miss s/v Liberty? You hear of these "deals" now and then but I have yet to see one. Most of the boats my friends bought for 80K needed another 80K before you could realistically go cruising.
I agree. The best deals are often yachts that sell for an average price in bristol condition. I have seen a fair number of good buys but never a perfect boat for a super low price either.
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Old 28-09-2011, 12:07   #11
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Re: Looking to Buy 45-50' S/V in Bristol Condition

I bought my boat in 2009 right after the crisis. I was sure that I would get a great deal as a cash buyer in the middle of the worst economic crisis in decades.

Nope, at least not in the class of boat I wanted. I worked very hard looking at boats and negotiating. I negotiated 50,000 pounds off the price of a 400,000 pound Oyster, but the deal fell through when the boat failed survey miserably, and the owner refused to reduce the price further for the value of the defects found. The boat was snapped up "as is" within a couple of weeks after my deal fell through, for a higher price than I had negotiated, and the buyer was pleased (I ran into him accidentally a year later).

The boat I eventually bought, I paid the full asking price for. But she was in great condition, and has turned out to be a great boat, and I am delighted with the deal still.

So I do not have the impression that there are lots of extraordinary cash deals around for 50 foot cruisers of recent production. Maybe one here and there, if you bump into one accidentally.

I would think that you will need a few hundred thousand at least for a 50 foot cruiser in good condition, with up to date equipment, and not more than 10 - 15 years old.
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Old 28-09-2011, 12:18   #12
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Re: Looking to Buy 45-50' S/V in Bristol Condition

Quote:
Originally Posted by silkyblue View Post
Budget is my concern. In todays terms there are a LOT of boats that "Survey" for $500,000 that are stagnating on the market while costing their absent owners 2-4000 per month. Meanwhile their 401K's are stagnating as well or their retirement plans are cancelling health insurance coverage for the entire group.
I have seen a lot of 250-800 K Yachts reluctantly sold for 60-250K in the past five years.
And if we did not have the cash to offer we would not be looking " Pamlico ".
S/V Liberty in USVI just went for 80K. A Beautiful FRP Restored, 52' John Alden Malabar that had been for Sale for over five years, for one example. It Started at 300k
And if you have indeed seen "lots of 250-800K yachts reluctantly sold for 60-259K" then I'd suggest you grab the next one and don't waste your time with us.
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Old 28-09-2011, 12:30   #13
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Re: Looking to Buy 45-50' S/V in Bristol Condition

Ya gotta kiss a lot of frogs before you find a princess!
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Old 28-09-2011, 13:36   #14
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Re: Looking to Buy 45-50' S/V in Bristol Condition

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S/V Liberty in USVI just went for 80K. A Beautiful FRP Restored, 52' John Alden Malabar that had been for Sale for over five years, for one example. It Started at 300k
If this is the same S/V Liberty I found on the net, it was built in 1924 of wood, and glassed over in 1985. Glass over wood frequently creates problems, but even if there were no rot or structural issues under the glass, this ia an 87 year old wooden boat. Unless the boat is something extremely special, $300K asking price seems extremely high and $80K just a pretty good deal.
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Old 28-09-2011, 13:44   #15
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Beneteau 473?

What about one of the ex charter Beneteau 473's?
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