The asking price
for the boat was $425,000.00US. The selling price
of the boat was $235,000.00US and included about 5 pages of items to be repaired by the seller. As well, the decks were replaced as well as recored for an additional 85k due to the fact that the teak
was nailed down instead of glued. Hard to imagine anyone doing this in 1999. We then spent another 40k to refit
forward of the main salon
as well as later on performing all the upgrades that I previously mentioned. (This was a steal as in the US it would have been double.)
charged me $800.00 US a day and spent about a week. Because we flew him from Ft. Lauderdale to Asia
we obviously covered his travel and expenses so in the end it probably cost us about 15k - 20k. Would have been a kicker
if we hadn't been able to close the deal.
Prior to this opportunity we had looked at boats in the Netherlands
but we were only looking at CT 56's as this was the boat that we wanted due to the aft master cabin
. As there were only 13 of these boats built (lots of 54's but these were our 2nd choice) there weren't many to look at.
The seller was motivated to sell as he was building a 126' wood hulled ketch
and needed the money
. In the end he went bankrupt and had to sell that boat as well. It was a beautiful boat though as he had purchased a forest track in Borneo to be able to mill all the teak
. The financial crisis in 2009 probably also worked in our favour but I do not think prices have recovered much since then except maybe in the US itself were things were really bad. Back then lots of people were just walking away and handing the keys to the banks.