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Old 18-08-2012, 13:39   #1
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As the Euro drops this looks good ...

LAGOON 380 for sale in Greece

I have heard from the broker who has been on board that this boat is in "Very Good" condition and is ready (with some add-ons) to sail across the Atlantic.

Looks like a great deal but do I have what it takes to get this Cat up to Vancouver BC?


Hmmmmm
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Old 18-08-2012, 14:31   #2
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Re: As the Euro drops this looks good ...

Didn't see a dinghy listed though there is a motor for one. Don't know what 'optional' means on that motor. The life raft seems too large, way beyond certification and may be too old to be re-certified under Euro specs. You'd want a back up for the autopilot unless you're willing to sail with a fairly large crew. At least large enough to stand 24/7 steering watches. There were no storm sails. I'd want some back-up. These could be picked up on Ebay or the Euro version of Craig's List fairly cheaply. Also, a reacher or chute would be a nice to have sail for the passage you are planning.

Well before leaving would want to add BioBor or other anti-flora additive to the fuel and change all filters. Go sailing for a fairly long passage, run the engine for at least 10 hours and check the fuel filters again to be sure the critters aren't clogging it/them up. If they are picking up a goodly amount of crud quickly, either have the fuel scrubbed or be prepared to change the filters underway with plenty of spare fuel filters. Assume you know how to change them and bleed the injection system.

Assume the rigging is ten years old. It it was me, would change everything using Norseman or Sta-Lok terminals. It's not all that expensive or difficult to do yourself and will get you intimately acquainted with the rigging which is a VERY GOOD THING. Also inspect the running rigging carefully. It's not as critical as the standing rigging but a broken halyard can ruin a passage.

The batteries also appear to be original. If that's the case, they are history even if they will still hold a charge. If the batteries are more than 4 years old, I'd replace them or count on them failing during the passage. With all the electronics that we rely on these days, autopilot, GPS, etc, the last thing you need on a series of long passages is to lose the batteries. Also the Epirb battery, is it current or not. Replacement is $300 or so if it needs it.

You will have the boat surveyed, I assume. Before you waste money flying to Europe, unless you just want to go, find a surveyor now. Pay him to just look at the boat. He should be able to tell you whether it's worth making the trip just on a walk by. Could be the best $100 or so you will spend on the boat. Don't mean to demean the broker but some are a little reality challenged when it comes to getting a commission.


So yes, the boat seems to be reasonably equipped but not quite ready for long ocean passages.
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Old 18-08-2012, 14:47   #3
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Re: As the Euro drops this looks good ...

Thanks for the reply, approx how much $$$ above and beyond the selling price would I need to spend to prepare and sail her back here? (Not including hiring a crew as I have friends volunteering to join me in this).

Also, How long would it take and at what time of the year should a trip to Vancouver be made? I am thinking Panama Canal and then back up the coast to BC.
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Old 18-08-2012, 15:14   #4
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Re: As the Euro drops this looks good ...

Assuming you export the yacht on purchase so avoiding 23% Greek VAT, then you need to be leaving now to make the Canary Islands for Xmas and cross the North Atlantic in the New Year. That puts you in Panama for the Spring. Don't know enough about sailing N to the PNW in the Spring time but if that coast is like the European coast later would be better.

However, that just isn't achievable, is a awful long way in a strange yacht that has probably just come out of charter (hence the large life raft) and needs a refit, that's why its for sale cheap. A 10 year old yacht is in a really tricky position. The first owner has all the benefit of a new boat, but you pick up all the problems as sails and rigging really need replacing at your cost. Compare that to a 15 year old boat which will hopefully had new rigging and sails.

You could easily spend $10 -$15k on new rigging, extra sails and stuff even doing it on the cheap.

Then there is the cost of supporting a crew including food and flights from now until late Spring.

Final thought, Greece is financially a basket case. National debt is now 263 times GDP and I would be quite happy to wager they going to leave the Euro and revert to their own currency soon. If you were trying to buy a boat when they crash out of the Euro it could be a nightmare and your money at risk.

Is there one nearer?

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Old 18-08-2012, 16:14   #5
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Re: As the Euro drops this looks good ...

With an asking of 112k euro they would probably take less than 100k and just ship it in a container if your in a hurry . Pretty sure i read recently somewhere on the internet a guy stated his just fit in a container he shipped to avoid Somalia coast. Much safer if all you want it for is local use around BC. Many ex-charter for sail in Virgin islands and croatia as well.
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Old 18-08-2012, 19:14   #6
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Re: As the Euro drops this looks good ...

Quote:
Originally Posted by eliems View Post
(...) approx how much $$$ above and beyond the selling price would I need to spend to prepare and sail her back here? (Not including hiring a crew as I have friends volunteering to join me in this).

Also, How long would it take and at what time of the year should a trip to Vancouver be made? I am thinking Panama Canal and then back up the coast to BC.
It may be very difficult to tell without seeing, and surveying, the boat.

If time is an issue, you will struggle to get anything done on time there and you may struggle to get it done right.

Atlantic can be crossed very late (say April to be in Panama late May) but you might have issues getting out of the Med during winter months.

Get one closer to home, save loads.

Cheers,
b.
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Old 18-08-2012, 22:59   #7
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Re: As the Euro drops this looks good ...

Shipping is not on the table as this is about adventure, (with potential profit).

My experience is limited to a year of ownership with a few trips up the protected waters of Pacific North West so the real question is am I up to it? I do love a challenge though!
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Old 19-08-2012, 02:18   #8
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Re: As the Euro drops this looks good ...

Sounds like a great adventure.
You only live once.

Greece and Turkey are stunning cruising grounds. If you have the time, a few months (or even years) cruising these areas would be fantastic and it would give you plenty of experience to bring the boat back home. It would also provide time to sort the boat out for the long passage.

My only caution is,as others have said, brokers are very creative with their descriptions.

I would ask for some current photos before you get too excited
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Old 19-08-2012, 04:00   #9
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Re: As the Euro drops this looks good ...

you are looking at a 10 year old lagoon, which has probably spent 10 years in charter (the VAT not being paid is the giveaway), batterys are probably hosed, rigging needs to be replaced, the sails are also probably end-of-life, Diesel and water are small (another giveaway on the charter) meaning I'll guess the storage isn't so great (never is on charter models). 4x double beds also give away that this was the charter version. Liferaft will need to be serviced (my 8 person just cost €550).

All that said ... beware of the VAT issue ... you'll need to export the boat within the required time frame otherwise you'll risk a big VAT bill.

Also ... if you are looking for a "distressed sale" yacht in the EU they generally aren't the ex-charter yachts ... the ex-charter yachts are generally being sold for a reason, and priced appropriately (not a bargain)

sorry to piss on your parade.
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Old 19-08-2012, 04:29   #10
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Re: As the Euro drops this looks good ...

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Originally Posted by jannw View Post
Also ... if you are looking for a "distressed sale" yacht in the EU they generally aren't the ex-charter yachts ... the ex-charter yachts are generally being sold for a reason, and priced appropriately (not a bargain)
I agree with Jannw, I don't think we have the same level of distress sales that the US has seen. For example when the crash happened the tanked and suddenly UK yachts became quite cheap for EU buyers. Newish, well presented yachts were exported across the channel in big numbers as buyers worried about the value of the Euro cashed into moveable assets (yachts) and fixed assets like London property.

The has now risen against the Euro amid more fears of the PIG countries going pear shaped and UK buyers are searching for bargains in boats and property since interest rates are dismal.

If Greece does revert to something like the Drachma it will drop like a stone and there will be short period of mad bargain hunting by Europeans Germans) snapping them up before the the currency stabilises.

In your position I would stick to the US and central American countries, it would be so much easier. No bargains in Panama were people have been there and done it or run out of road and don't fancy the Pacific?

Me? I would buy this which DVC posted, chuck 10k at it and sail it like you stole it

Trimaran 1979 Cross Trimaran Trimaran For Sale



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Old 19-08-2012, 06:19   #11
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Re: As the Euro drops this looks good ...

Quote:
Originally Posted by bottomend View Post
With an asking of 112k euro they would probably take less than 100k and just ship it in a container if your in a hurry . Pretty sure i read recently somewhere on the internet a guy stated his just fit in a container he shipped to avoid Somalia coast. Much safer if all you want it for is local use around BC. Many ex-charter for sail in Virgin islands and croatia as well.
Containers are 8' wide so I don't see how that was possible. I have heard of some of the folding tri's fitting in containers though.
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Old 19-08-2012, 07:04   #12
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Re: As the Euro drops this looks good ...

The only way to answer the question (am I up to it) is by sailing it.

But if you have limited experience, and considering the length of the voyage, I would not jump into an adventure if I were not sure I am up to the job.

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Old 19-08-2012, 07:08   #13
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Re: As the Euro drops this looks good ...

Of course the Broker would say that.... That's their job! Most broker's aren't much of a sailor, so I wouldn't believe much of what they say... especially touting it to be atlantic-crossing ready! I would think only the captain making the journey would know that or not....
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