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Old 28-10-2013, 16:43   #31
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Re: cost of a sailboat refit

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Originally Posted by Target9000 View Post
Here is a very detailed cost accounting of our refit of a 1974 W32 (32 foot boat):

http://sundownersailsagain.com/wp-co...-130510_r1.pdf

Specifically about the rigging. We're replacing all standing and running rigging with the exception of the mast. This includes even the boomkins and bowsprit which most boats do not have. The cost will be near 10k when done. These are real world numbers with us doing all of the work ourselves.

Don't kid yourself about how much this stuff can cost. Ours is only one accounting, but we find many people don't keep numbers as well as we do. Hope this helps.
yes thank you.
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Old 28-10-2013, 16:48   #32
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Re: cost of a sailboat refit

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yes thank you.

You're welcome. My wife gives a much more generalized overview of our cost and budget numbers here:
Cost to sail around the world | Sundowner Sails Again

This pretty much sums up our thoughts on costs as they relate to us. I'm sure everyone has to find their own way and their own costs, but when we started we were starved for budget numbers. The only really good accounting we could find at the time came from the Bumfuzzles and their budget was sky high compared to our own.
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Old 28-10-2013, 16:52   #33
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Re: cost of a sailboat refit

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Nice accounting. Those who think they can get a cheap boat and not spend what the boat cost outfitting should read it!
Not that it has to be that way, you can simply not do some things... but many people dont go there....
Yes, we thought we'd spend 30k on the refit in the beginning but that quickly turned to 60k. Now we have a much better idea of how much all this stuff costs.
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Old 28-10-2013, 16:55   #34
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Re: cost of a sailboat refit

My original question that started this thread I understand is impossible to answer. The reason for the question was that I wished to get a feel for what people spend to "refit" a sailboat and that you all have most certainly helped me with. I'm looking to buy and all boats I look at need work, most, even ones that are supposed to be sail away ready need work. Someone mentioned that insurance companies don't like to insure boats with rigging over 10-14 years old against demastings and that started me thinking. Few boats if any that I have looked at fall within that window.
Some say new is better but I am not so sure that is so. I'm coming to the conclusion that the old designs are very fine bluewater designs and if properly refitted equal or exceed safety wise any of latest and greatest construction by the big yacht makers. New ones are faster with spade rudders prone to damage but speed isn't every thing, safety is in my book.

Again I wish to thank everyone for taking the time to enlighten me

Best wishes
Britt
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Old 28-10-2013, 16:58   #35
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Re: cost of a sailboat refit

A Whole Bunch of Money and Then Some. The kicker Ins Co does not count your labor during a refit as added value. They call it "Labor of Love". Seriously my 25,000.00 dollar estimate went to 40,000.00 and still going. Thank Goodness for Plastic.
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Old 28-10-2013, 19:20   #36
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Re: cost of a sailboat refit

I completely restored a Slocum 43. The boat was under water up to the cabin sole and had been neglected for a decade. Leaked like a sieve too.

Including sanding and revarnishing the entire inside plus new sails, wiring, tanks, genset, engine/transmission, instruments, fabric, canvas, stove, pumps, hatches, dead lights and rebuilding much more, (except for the standing rigging) there isn't much that hasn't been replaced, restored or rebuilt. And that list is what I can think of off the top of my head. Our running joke is that the only items left that are original are the hull, mast and wheel.

I did quite a bit myself but hired pro's for some of it. I was able to latch on to a good company. A little pricey but outstanding work. Worth it in the long run to have something done right and to a standard.

I have a pretty detailed spreadsheet, not handy right now, but I'll say it cost me every bit of $70k. For me it worked out since I bought her at the right price and sold my other 41' to finance the restoration. Netted out almost even... Almost.

End result, I have a virtually new boat. (But yes things still do break as I just replaced the injector pump myself).
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Old 28-10-2013, 20:13   #37
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Re: cost of a sailboat refit

My boat was well found when purchased a couple years back and I'll just echo what everyone else is saying..it's more expensive than I was expecting!! Also, every project takes about 3 times as long as you're expecting and, no matter how superficial, usually ends with some essential component of the boat laying in pieces.
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Old 28-10-2013, 20:21   #38
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Re: cost of a sailboat refit

Bought our boat in 2006 for 125k, put 100k into it and just sold it for 70k.
If you have to ask ..........
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Old 28-10-2013, 21:45   #39
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Re: cost of a sailboat refit

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I completely restored a Slocum 43. The boat was under water up to the cabin sole and had been neglected for a decade. Leaked like a sieve too.

Including sanding and revarnishing the entire inside plus new sails, wiring, tanks, genset, engine/transmission, instruments, fabric, canvas, stove, pumps, hatches, dead lights and rebuilding much more, (except for the standing rigging) there isn't much that hasn't been replaced, restored or rebuilt. And that list is what I can think of off the top of my head. Our running joke is that the only items left that are original are the hull, mast and wheel.

I did quite a bit myself but hired pro's for some of it. I was able to latch on to a good company. A little pricey but outstanding work. Worth it in the long run to have something done right and to a standard.

I have a pretty detailed spreadsheet, not handy right now, but I'll say it cost me every bit of $70k. For me it worked out since I bought her at the right price and sold my other 41' to finance the restoration. Netted out almost even... Almost.

End result, I have a virtually new boat. (But yes things still do break as I just replaced the injector pump myself).
thanks. I've about come to the conclusion that it may be best to find a good solid blue water proven hull and then do what you did. At least then you know what you have and everything is up to date
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Old 28-10-2013, 21:50   #40
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Re: cost of a sailboat refit

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Bought our boat in 2006 for 125k, put 100k into it and just sold it for 70k.
If you have to ask ..........
woa...that's not good. Sorry to hear things went so sour. Expensive six years. Seems to me that your boat must have been worth much more than 70k
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Old 29-10-2013, 07:13   #41
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Re: cost of a sailboat refit

In a perverse sort of way itís been quite gratifying to read some of these spending reports. I was beginning to think I was the only one who was feeding far too much into my baby. But from some of these posts, Iíve actually got a little way to go.
The other aspect, which really should be deducted from the expense account, is the enjoyment factor. If you enjoy working on your boat, as I do, (mostly anyway), and then get pleasure from sailing her across oceans, this really should be counted. How you quantify it is up to the individual.
Also, unless you are totally unconcerned about money, itís always well to keep an eye on the resale value of the boat you are piling in into.
I bought mine at a very good price because it was badly neglected, so even after all the modifications and additions I believe I could just about break even if I sold her in todayís market. Not counting my labor content of course, but that's supposed to be part of the pleasure side.
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Old 29-10-2013, 07:20   #42
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Re: cost of a sailboat refit

I bought my boat in good condition, likely to avoid a serious snd for a couple of years.

However, I am preparing for long term blue water cruising where my boat will be my home, thus I have been very hard headed about looking at potential problem areas and spending now, rather than spending much more later.

Even so, My bank manager is horrified by the heamorage in my bank account. I comfort myself by thinking that I effectively will have a new boat with a proven condition.
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Old 29-10-2013, 07:41   #43
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Re: cost of a sailboat refit

Although I lost a small fortune, at least I knew what I was doing was not an "investment" (I've done it before) and did it anyway (there was nothing on TV). I did thoroughly enjoy the process and have no regrets.

Its the newbies and the uniformed bargain hunters that get in over their heads.
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Old 29-10-2013, 08:03   #44
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Re: cost of a sailboat refit

Buy a boat that makes sense financially and is built for what you want to do with it, but also one that pulls at your heartstrings so that when you're pouring hundreds of hours of sweat and blood into it it will still be an enjoyable experience. A sense of purpose and pride of ownership together will get you through many a dark hour in the bilge.

Well-found older boats make the most sense to me. FRP boats can last a long time, especially with the way they were often over-built in the 70s and 80s, and there are always a ton on the market. Something that has more or less "bottomed out" in price and is not going to change much regardless of what you do to it.

Worst case scenario in my mind is that it's possible to take out a loan to buy a new boat. If its a $200k boat say, by the time you pay it off in 10 years, you've probably paid about $300k for the boat, which is now valued at $100k.
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Old 29-10-2013, 09:12   #45
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Re: cost of a sailboat refit

In some ways, the cost of a re-fit is going down..
10 years ago, I purchased 2 each 80 watt solar panels and a morningstar 15 for a price of just over 2000.00 The panels themselves were over 800 each..
Doing an upgrade on the solar...
Just purchased 2 each 140 watt panels and a morningstar 30 and the total cost was just over 800 for the complete package..
and the best part, sold the 10 year old panels and controler to a guy for his power boat for 600.
Not badf for an upgrade for 200.
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