PERRY 47

[eskfreedom]

My family and I have an opportunity to trade a 1977 Perry 47cc for one of my rental properties. The boat has bin sitting for three years. It was built in Thailand and I guess Perry and the Yard had a falling out so he wasn't involved the whole time of build. The owner originally asked 127k but now wants 95k. It has the Perkins 85hp 4-236, 10kw Isuzu gen.,4kw backup gen.,Pur water maker, the main sail is on a mast mounted roller furling, and a bunch of other stuff. I figure it needs about 25k to make her new again. The house I originally bought four years ago for 45k, refinanced for 65k wich is what I owe on it now. He wants me to pay it off and trade strait across.It appraised at 85k. Our original plan was to sell everything and purchase a cat for around 250k. But if we got this boat we could keep our beautiful house on the river and have way more money to cruise on. I will be honest I don't know smack about mono's. The past four years I have been doing research on cats because I never thought I would go over to the dark side. But now I'm seriously considering this trade. If any one has any info on this boat or advise on what to do I Would be in your dept. Thank you very much

[Boracay]

To me the deal would hinge on the condition of the the boat, its relative value and the amount of work needed vs your ability to do the work.
Oh, and did I mention that monos roll, roll back, and then roll again?
Nice to keep ones money out of a hole in the water though.

[mudnut]

Hey,Dont they "Roll,roll back,roll over 180 deg,then roll back the other way."Smiles"Mudnut.

[Jon D]

Could be a good deal but then again maybe not. I would suggest getting in contact with Bob Perry and talk about that boat. His purchase consulting fee is $500 I think - check is web site. If nothing else the 500 will confirm whether a mono / that mono or a multi is better for you. The money side of the deal maybe great however if you are out cruising and hate the boat -- not so good. I would also guess that 25K estimate is low -- at a minimum figure 50 might be as high as 75 given the age of the boat depending on what has been done in the last 3-4 years to keep the boat current.

[Amgine]

If you're considering purchasing the boat (and trading is still purchasing), you need to have a survey. This will be required by your insurance company anyway, and it could save you from a bad deal, so just do it up front.

The survey should give a value estimate as well as an idea of how much it will cost to get the vessel into reasonable condition.

[Charlie]

Hello Esk:

I think the whole thing depends on the condition of the boat. I'm a Monohuller. Just cause I know them. Nothing against Multi's. Here's my thought -- Purchase Don Casy's book on surveying fibergalss boats. Do a survey yourself. If it looks good find the name of the surveyor that the yacht brokers hate (for killing deals) and hire that person to do a professional survey. Having just bought a new to me used boat I know that $25k doesn't do much. I'd estimate alot higher than that. Especially if you have to hire the work out.

A new multihull would be much nicer than an old mono but most people don't live on there boats forever and having to come back and start over with an asset (the boat) that has gone down in value seems like a risky propostion to me. There are lots of couples that end up hating each other or hating cruising at some downwind spot Mexico Florida etc. I say this from experience not just heresay.

Be careful about spending everything. It is easier to upr grade later than to downgrade.




Keep on negotiating and see what you can get

[Fritz]

You should definately talk to your tax man or woman about the proposed transaction, since you may have to recognize a taxable gain on the disposition of the real estate. This should probably be factored into your analysis.

[eskfreedom]

Thanks guys, the boat does need some work but i think its a lot of boat for the money. Any body know anything about this piticular Perry

[David_Old_Jersey]

I can't add much about these, but I got curious about something this size for the leisure market having been built in Thailand back in the 1970's.....so I did a Google and dug these specs:-

YACHT SPECIFICATION - CODE 10890

Seems like Taiwan.

I would certainly get a surveyor looking at her for this size, age and money will be money well spent - the Surveyor will either save you 000's (potentially tens of) by making you walk away or will give you a larger degree of confidence in what you have bought / a schedule of works on which to base an informed decision, not clouded by hopes and dreams! Plus a Survey is always useful when it comes to hard bargaining! (I dunno about your part of the world, but I would have still thought that property is always easier to shift than old sailboats - perhaps the reason for the attractive trade? - it is doubtful that the vendor is "doing you a favour").

I don't want to pry into your finances!, but from what you have said your original intention seemed to be to "max out" on buying a newish Cat, out of choice I would go for a boat that allowed me to "max out" on my living expenses whilst still having enough comfort aboard, whether Mono or Cat or older than would be ideal. But I appreciate folks priorities differ.

[btrayfors]

I have a Perry-designed 42' sloop, built in Hong Kong by Cheoy Lee under the name, "Golden Wave Shipyards". I doubt that the 47 was built in Thailand in 1977, though it is just barely possible. Much more likely to have been built in Taiwan, as was the 47 noted above.

Re: your original comment, "I figure it needs about 25k to make her new again."

I think $250K is much closer to reality. A boat this big and this old is likely to need a LOT of work to bring her back to near "new again".

The two generators, watermaker, and (I assume) behind-the-mast furling indicate to me this boat has been cruised seriously for a time. Question is, did the previous owner(s) invest the time and funds needed to keep the boat in top-notch condition? Many cruisers, unfortunately, do not.

Whatever you do, get a COMPETENT AND THOROUGH SURVEY.

Good luck,

Bill

[Countess Inn]

I own hull #16 built by Litton marine in Taiwan with the knowledge that I would need to replace most all systems, wiring, varnish etc. I am mostly done now but did most of the work myself. Forget about Bob Perry, I talked with him on the phone and was told he needed the 500 (or whatever) to talk with me. I paid the money right then giving him my CC# and he then told me he had no info, plans, suggestions etc. I later found out that while these boats were being built he was being sued by owners et al here for some shotty Valiants made here in Washington state I believe. Still no excuse for taking money with the promise of value.

I believe some were made by Universal Marine but the way I understand it, families were given the task of finshing the interiors and who knows what else. Point is that I may not know what you need to check/replace etc. I am happy to share what I can but i went first class for things like LED running, cabin, etc lights. New Newmar elec panel, tinned wires replacing all wires throughout the boat etc. Galley, heads, refrig, granite counters, deisel heater... If you get a price of 250k to "fix her up" please let me know.

Have her surveyed, no question, and not by "blind Jack" Go in with your eyes open, knowing what she needs, what you can do, what you can learn to do and what you will need to get someone else to do. Be picky who works on your boat. I know every inch of my boat so if something stops working it was probably me who installed it.

This is the right boat to cruise.

[GordMay]

Originally Posted by Countess Inn

... Forget about Bob Perry, I talked with him on the phone and was told he needed the 500 (or whatever) to talk with me. I paid the money right then giving him my CC# and he then told me he had no info, plans, suggestions etc. I later found out that while these boats were being built he was being sued by owners et al here for some shotty Valiants made here in Washington state I believe. Still no excuse for taking money with the promise of value...

To see what Bob Perry promises, goto the Robert H. Perry BOAT BUYER’S CONSULTATION SERVICE webpage:
Robert H Perry Yachts Designers Inc. - CONSULTATION SERVICE

[Countess Inn]

You miss my point I guess. I miss yours. I have the $/time and am doing a first class job, almost finished.

If perry is offering a service it is to collect his fees without regard to customer value. He should have had the courtesy to tell me he had no info and would feel badly about taking a fee if he did not have anything of value to offer in return.

[GordMay]

My point is, that there seems to be a disconnect between what Perry promises, in writing, and what you say he delivered.
Were I an interested reader, I'd take our exchange to be "cautionary", regards Perry's consult service.

[Maddog]

I've conversed with Bob through another forum. He's a straight shooter. This does not sound like him.