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Old 13-10-2017, 02:52   #1
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Will Someone Talk Me Out Of This Refit Plan Please

I've owned my Contessa 32 for 16 years and absolutely love her. She's taken us safely on many long cruises and my daughters grew up with her. To me, she is the perfect small yacht - fast, seaworthy, safe and beautiful. She's going to be 40 next year and I have found myself planning a major 40k birthday refit. I'm 54 and plan to keep her for as long as I am able to sail her. Re-wire, new rudder, new cabin sole, water tank, teak cockpit, re-spray decks and coachroof, solar power, shore power, partial new galley etc. Surely it's bonkers to spend this amount on a little yacht that's probably only worth 20k? Isn't it? So why am I even considering it? Help!
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Old 13-10-2017, 02:59   #2
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Sailing her is a pleasure for you, refitting her is a pleasure to, a different one, but you will increase your pleasure sailing her after the refit you did yourself.
I guess that"s why you are considering this.
Go for it!
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Old 13-10-2017, 03:01   #3
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Yeah, small is beautiful in a lot of ways. If the boat suits you I can see the sense in keeping her. Lovely boats.
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Old 13-10-2017, 04:17   #4
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Not everything in the world has to make economic dollars and 'sense.' You love your vessel, as the old friend that she is. I say go for it, and remember that she is a legacy to your daughters.
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Old 13-10-2017, 04:26   #5
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Greetings and welcome aboard the CF, Raylden.

Quote:
... Surely it's bonkers to spend this amount on a little yacht that's probably only worth 20k? Isn't it? So why am I even considering it?
Maybe NOT so bonkers.

Price Guide:
2014
New: 189,000+VAT
Secondhand: 25,000-30,000

2016
A current search of the boat market has prices of between 15,000 and 51,000 British pounds depending on age and condition.
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Old 13-10-2017, 04:31   #6
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Boats in general are not a good "investment" when it comes to wise ways of spending your money.

When we stopped cruising to have our baby, we listed the boat for sale because it didn't make financial sense to keep her stored for 2-3 years. However, we were torn up inside! So we took it off the market, and are happily paying storage if it means keeping the dream alive.

I'd say as long as you have the money, and it's what you want to do, then it's fine.
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Old 13-10-2017, 04:35   #7
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Quote:
Originally Posted by Raylden View Post
>>>>>>>>>>>>>>>>> She's going to be 40 next year and I have found myself planning a major 40k birthday refit. I'm 54 and plan to keep her for as long as I am able to sail her. Re-wire, new rudder, new cabin sole, water tank, teak cockpit, re-spray decks and coachroof, solar power, shore power, partial new galley etc.>>>>>>>>>>>>>>>>>
Not bonkers at all, but...

A refit means you do everything you listed. However, is it all NECESSARY?

Re-wire: is something not working?
Rudder: safety issue? Fixit first. Nice mod? Optional
Cabin sole: I took mine out, stripped the old finish, new polyurethane, will be good for another 15 years
Water tank: aluminum? Otherwise, if plastic, why?
Teak cockpit: don't understand
re-spray: old paint going?
Solar: something new? If so, it depends on how you use your boat and if she's on a mooring vs a dock
Shorepower: same
Partial new galley: for?

My boat is 30 years old, I've had her for 20 of those. I did a major electrical upgrade when we bought her in 1998. Other than that she's fine, although over the years small improvements (traveler upgrade, blocks, new module for fridge) crept in.

Could you prioritize and do a rolling upgrade?

Or do you want to do it all?

If so, I understand completely, since I was your age when we bought her.

Go for it, mine's a "keeper," too.
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Old 13-10-2017, 04:42   #8
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Re: Will Someone Talk Me Out Of This Refit Plan Please

There is no economical reason to buy a boat. You do so because you fell in love with her, you continue, because you still do.
When your not, you don't.
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Old 13-10-2017, 04:42   #9
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Welcome aboard CF, Raylden. Great first post!

Pretty simple really, what would get if you sold her as is and combined that with the 40K.

Would that be better than your existing Contessa 32 in "as new" refit where you know every inch of it and know exactly what standard every part of it was rebuild to.

I reckon the answer is obvious
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Old 13-10-2017, 05:13   #10
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Thanks Stu Jackson - forgive me while I get used to the mechanics of the forum.

The cabin sole is starting to rot and the water tank is old and GRP so we can't use it for anything other than doing the dishes. Replacement is quite a big job - 8-9k but will look superb and give us a tank we can drink from

re-wire - well everything works at the moment but a lot of it is 1978. just seems a sensible thing to do. and the original builder knows his way around the boat

teak cockpit - not essential at all. but existing cockpit is tek-dek imitation teak and... well... *scratches head*... damn - can't find sensible reason to do this..

solar panel - I plan a UK circumnavigation which will involve a lot of anchoring so seems a reasonable fit.

re-spray - not essential but existing finish has become crazed and porous and looks awful

galley - not essential. sink is original GRP. stained. pumps a little wonky.

rudder - weeps when ashore (a bit like me really) not been looked at during my ownership. seems a sensible precaution to have it off and looked at. I sail this little boat a lot.

to get her to the original builder is a 3-4 day sail each way. I'm thinking that I should use his expertise to do the jobs

but 40k....
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Old 13-10-2017, 05:24   #11
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Prior to making your decision, seriously look at 10 boats in the price range of her current sale price plus cost of refit......if estimate refit is 40K, make it 50K because it is a boat!!!!
You may find something you really like when you earnestly look......or you may not. We did a 250K refit on a 500K boat, but could not find the custom features this one off had on anything but another full custom build. Still have a twenty year old boat, but she is lovely. Took a few years off our life tho, as we did a lot of work ourselves........
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Old 13-10-2017, 06:58   #12
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Refitting, or even owning, any boat is given to be a bad financial decioson. So...with than in mind...ask yourself what other benefits/value do you get from it?

My 2c: you and yours obviously have a lot of emotional attachment to the boat and that has value (just not financial). You can avoid the time, expense, hassle, and unexpected surprises of switching boats by refitting (though that comes with its own negatives). Finally, can you easily afford the refit? If so, financial logic be damned...just do it! 😆
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Old 13-10-2017, 07:32   #13
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Quote:
Originally Posted by Raylden View Post

but 40k....
Have you seen the one for sale in Wales (Im assuming you are UK based)? Extensive refit just completed, looks like a proper job (no connection) and on the market for 44k......
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Old 13-10-2017, 08:04   #14
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Ive also had a similar delima in the past. Relatively inexpensive boat that I really loved. Spent well over its market value in refit costs. Thuroughly enjoyed the boat for many years. Wife wanted to upgrade...so boat sold...made me sad. She teased me for a long time about mourning the loss of my mistress.

I still miss that boat sometimes....
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Old 13-10-2017, 08:20   #15
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Re: Will Someone Talk Me Out Of This Refit Plan Please

Search yacht World and see what 40 to 60K pounds sterling will buy.

Sell. Boats have improved since then.
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