Sean, I wouldn't say 'unfortunately she was in excellent condition' - I have bought fixer-uppers and boats that were well-equipped and in excellent condition and the latter turned out to be the best investment. Even if you do not factor in money
for your labour (as you surely should), material, equipment
and marina storage
costs have escalated so much that there are few true bargains to be had based upon neglect. Indeed, some 'flaws' such as deck delamination
are an absolute nightmare for DIY repair.
In my experience, particularly if you are looking to buy a an older model of a popular boat, the low end of the market tends to drag down the price of the upper end. People will see various listings for a particular model at what seem to be incredibly low prices and, while these boats would not pass even a perfunctory inspection
, they can appear quite decent in photos. The result is that the owner of a vessel that is well-equipped and in excellent condition gets many less inquiries concerning his boat because the listed price seems
incredibly high. If the vendor has no personal knowledge of the boats listed at much lower prices, it will naturally tend to lower his expectations in terms of price. I suspect that this is particularly true in the current
soft market where supply considerably outstrips demand.
Put another way, I have never heard of anyone who regretted buying
a boat that was well equipped and in excellent condition. I know of many who have regretted being lured by the 'fixer-upper'.