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Old 30-01-2012, 15:46   #1
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And Now The Hunt Begins

At last!
We have a buyer for our business and that means come mid February we will be seriously in the market for a boat to be our new home.

We are in Australia now but don't mind where we start our new life so we will travel to find the right boat.
In fact our first stop is Greece, followed by Spain and a couple of other European countries. If we haven't been totally bowled over by the Star of Africa covered in dust and mildew in a marina somewhere,we will head to the USA to continue our quest.

I know all the travel sounds like a waste of money to the 'buy in your own backyard' folk, but this is more fun. And if you think about it, negotiating the right deal for the boat you really want will probably recoup the $10k invested in the search.

The size we will be needing will be from Vagabond 47 to CT54 size, with Formosa 51 or Hudson Force 50(cc layout) being the ideal. I've been a member of the owners' forums so I'm well aware of all the build issues and repairs and upgrades necessary.
I also know that in many instances enthusiastic owners have done the hard yards and the boats are more like the vision Garden and Perry would have had in mind at their drawingboards.
And if anyone has anything nasty to say you'll be answering to Zeehag!

We've been watching Yachtworld and Sailboat Listings and have a list of boats to take a look at. We've also been talking to brokers and find that in some instances prices will be very negotiable, but not in others. This may have something to do with the condition of the boats too.
The funny thing is 18 months ago there were a lot more in the USA, Caribbean area, but right now our most serious contenders are in Europe.

If any members here know of any boats from the list above that owners are thinking of selling, or have just listed locally, we'd love to hear about it.
Our budget will be around $120,000, more or less depending on condition and lust factor .
If we go too high it just means dry toast and black coffee for a couple of years, but we'd do it for the right boat!
We would also need the boat to be reasonably close to cruise ready because visas will only allow us 90 days in USA. If the boat needs some work done we could always head for Mx or DR where we could get work done more economically, but obviously the boat needs to be able to get there.

We've often heard that there are boats in marinas that aren't listed because they're distressed sale situations. Nobody wants to spend money they already don't have!
It's a long shot, but if any of you have boats in your marinas that may fall into this category we'd like to hear about it.

2012 is going to be a year of enormous change for us, and the start of a whole new chapter. No doubt we will be asking a lot of questions and seeking all kinds of input from members here, as well as posting the inevitable highs and lows of the journey.

Look forward any comments, suggestions or advice here, or via PMs, or vichankins at yahoo dot com.

Vic
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Old 30-01-2012, 15:51   #2
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Re: And Now The Hunt Begins

Happy hunting and best wishes in finding your vessel.

Great times ahead for you.
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Old 30-01-2012, 16:34   #3
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Re: And Now The Hunt Begins

This sounds like so much fun.

Keep us posted on the search. I know a great broker in Annapolis if you need one. Also, a good surveyor out of Charleston, SC and Annapolis.
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Old 30-01-2012, 16:51   #4
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Re: And Now The Hunt Begins

Thanks guys.
Doodles, that could be a useful introduction.
As it happens, I've got an old sailing buddy who lives on the Sassafras River in Maryland. He has a dock and toolshed should I need it, and is a retired boatbuilder. Annapolis could be a good hunting ground on all kinds of levels.
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Old 30-01-2012, 16:55   #5
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Re: And Now The Hunt Begins

Quote:
Originally Posted by VirtualVagabond View Post
Thanks guys.
Doodles, that could be a useful introduction.
As it happens, I've got an old sailing buddy who lives on the Sassafras River in Maryland. He has a dock and toolshed should I need it, and is a retired boatbuilder. Annapolis could be a good hunting ground on all kinds of levels.
Sure, just PM me if and when you need names and numbers.
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Old 30-01-2012, 22:24   #6
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Re: And Now The Hunt Begins

Go for it Vic, and good luck with the search. Hope that it comes to fruition fairly quickly, 'cause I remember that the fun part had gone out of our boatquest after the first two and a half years. Kissing frogs only works in fairy stories, and leaves a terrible taste in your mouth!

Cheers,

Jim and Ann
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Old 30-01-2012, 22:39   #7
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Re: And Now The Hunt Begins

Vic, just an idea of a boat you may not of thought of, and there are a couple for sale on Yacht world. I own one of these and lived on it for a few years. A Beneteau Idylles15.5 or 51'. 1985-1988 era. Built in France. Made well, not like the new junk. Tons of room. Fast and sails amazing. I just did a complete restoration on mine. I think there is one called GruyanaIII listed on Yacht world. Just take a look. Sweet layout, and a seperate crew quarter entry from the deck that you can basically convert into anything from washer dryer to workshop, space for A/C or watermaker. In your price range too. Just take a peak
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Old 31-01-2012, 04:55   #8
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Re: And Now The Hunt Begins

Vic, spot on about the best deals now being in the Med! Euro is weaker against the Oz and the continuing GFC has hit southern European countries hard.
120K will get you a very nice yacht at the moment in Croatia & Greece. We've been looking as well and are amazed at some of the deals...
Another bonus about a lot of Med ex charter boats Vs Caribbean (where we bought out last one in 2003), is that they are often hauled and stored on the hard for Winter; Caribbean boats aren't.
We've found so many great boats in the 80-100K range and many of them have recent upgrades (new sails, VHF, new chartplotter, etc). One disadvantage is that many of them have in-mast furling mains; and if they are older than 2005, and you want to cross an ocean or 2, it would be wise to replace the standing rigging.
I'm excited for you. Keep us posted...
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Old 31-01-2012, 12:09   #9
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Re: And Now The Hunt Begins

I like your taste in boats. I don't want to incur the rath of Zeehag. My old wood Garden designed Mariner 35 was a dandy boat. A little cramped for a couple but great for a bachelor pad. The larger versions would be great.
Good luck in you search.
kind regards,
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Old 31-01-2012, 14:00   #10
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Re: And Now The Hunt Begins

Well he needs a big boat, cause he will have company.
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Old 31-01-2012, 14:14   #11
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Re: And Now The Hunt Begins

Vic, "distress sale" and "cruise ready" are usually polar opposites and by the time there's a distress sale, the boat has water damage issues (i.e. delamination), the sails are not suitable for extensive offshore cruising (4 sails, $20k for that boat? And "need 'em now" pushes the prices up) and of course you now have to investigate world paperwork concerns. Buy it in the US, you'll learn about sales taxes. Buy it in the EU, you may learn about VAT.

I'd suggest you try to decide on which place disillusioned sailors are dumping their boats in, and then focus on that one place, one set of regulations, one set of visa and other issues to worry about.
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Old 31-01-2012, 14:43   #12
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Re: And Now The Hunt Begins

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Vic, "distress sale" and "cruise ready" are usually polar opposites and by the time there's a distress sale, the boat has water damage issues (i.e. delamination), the sails are not suitable for extensive offshore cruising (4 sails, $20k for that boat? And "need 'em now" pushes the prices up) and of course you now have to investigate world paperwork concerns. Buy it in the US, you'll learn about sales taxes. Buy it in the EU, you may learn about VAT.

I'd suggest you try to decide on which place disillusioned sailors are dumping their boats in, and then focus on that one place, one set of regulations, one set of visa and other issues to worry about.
Good points.
I had a broker advise me that any boat being bought out of Turkey would have some kind of "exit taxes". It was about $4,000 on a $150,000 boat.

It's my understanding that VAT isn't an issue if I'm taking the boat out of the EU area within 60 or 90 days.
I believe the situation is the same if taking the boat out of the USA, although different states may have different regulations.

Once we find the boat, we can identify the specifics that apply and work through, over, under, or around them in the most appropriate way. If it's a major factor, it becomes part of the negotiation.

Let me know any specifics you have in mind.

Vic
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Old 31-01-2012, 14:47   #13
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Re: And Now The Hunt Begins

We really appreciate all the good wishes and suggestions, both here and the pms.
This really is an amazing 'family'.
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Old 31-01-2012, 16:56   #14
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Re: And Now The Hunt Begins

No VAT payable for non - EU citizens. There is a fee for deregistration - you're buying a foreign flagged boat that you need to change to an Australian registered vessel. You will need the 'export' paperwork to register her in Australia. Not that hard to do, just need to do your homework.

Ex charter boats are usually well maintained & serviced regularly, but obviously as with buying any boat, you need to suss it out, get it hauled and surveyed. This will give you the opportunity to check every inch of the vessel out and get familiar with all her systems and do things like put a new sacrificial anode on the prop shaft, anti-foul her, check thru hull fittings, etc.
One Bavaria 49 I have been enquiring about has everything you need for cruising, except for upgrading batteries/ adding a few solar panels, buying back up hand held GPS, Hand held (waterproof) VHF.

The 3 most important things to check in any prospective boat (not including collision damage; obviously stay away from those boats and the broker/owner should've told you about it and if they don't, your surveyor will), is the
1. donk - obviously lower hours are better than higher hours but more important is the service regime the engine has had; marine diesels can last a long time if looked after. Paying for a thorough engine inspection by a mechanical engineer is worth it!
2. sails - are they worn out or only a few years old. Do you need to buy a storm jib and does the main have sufficient reef points. What sail combo do you think you'll need for down wind, trade wind sailing?
3. the standing rigging - any vessel, sailed hard or not needs the stainless steel standing rigging changed after 7 - 10 years as a matter of course. Even if it 'looks' perfect. Stainless can corrode from the inside out, get fatigued and suddenly fail. You just don't take that chance when crossing an ocean.

Obviously, there are many other things to check like ground tackle, bilge pump systems, seacocks, etc, etc. which are just standard due diligence that I won't mention.

Nothing wrong with ex charter boats, you just have to find the right one...

We want photos, Vic.
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Old 31-01-2012, 17:07   #15
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Re: And Now The Hunt Begins

Congratulations and good luck on your quest Vic!
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