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Old 15-09-2008, 11:49   #1
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7-Month Sabbatical on Multihull in Carrabean

Looking for advice on buying a cat to sail the Caribbean for 7 months and then selling the boat without losing my shirt. I'm from the Prairies in Canada which makes it difficult to scour the boat yards select a boat and fix it myself prior to leaving. Goal is to leave January 09. There will be 4 of us on board my wife and 2 girls 11 and 13. We've been chartering for years on the West Coast of Canada and in the Caribbean. A 38 to 42 foot Cat would fit the families need, Fontaine Pajot, Manta, Privilege or do you have any other suggestions? For what I've read an Owners version would have better resale.I was thinking of a boat 2 to 3 years old that doesn't require too much repair and would have very good resale. I see there are a lot of charter boats for sale but I'm very leery of going down that path due to the costs to bring it up to snuff and I think that it would be a detriment when I sell.I would like it to be easy to sail and sea kindly, reliable and be able to carry extra weight for equiptment such as dive compressor and related equipment.I was thinking that South Florida would be a good place to buy and sell the boat. Any suggestions on a Broker that I can depend on? I'm not sure if I'm in the ball park but I was looking at a budget when I'm done of $400,000. The bottom line is good resale after 7 months.Thanks, Wil
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Old 15-09-2008, 14:22   #2
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The largest multihull brokerage in the world is in south Florida, and I would imagine this will be your starting point. Unless of course one of the forum's members has plans to sell their boat.
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Old 15-09-2008, 14:35   #3
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Originally Posted by wmagnan1 View Post
Looking for advice on buying a cat to sail the Caribbean for 7 months and then selling the boat without losing my shirt....

Wil
Hi Wil

Do you really want to retrace your steps? Have you considered buying South and selling North? We met a few people who had bought boats in Venezuela, Trinidad or Grenada and were sailing North up the Windward and then Leeward Islands. It seemed a good thing to do. Good purchase prices, cheap facilities for fitting out, miss out on the hard graft passage from Florida to Caribbean, optimise the time you spend in the Caribbean, visit the less-spoilt Windward islands first and finally sell the boat in the Northern islands (BVIs perhaps).

Purchase price and availability may be good in Florida, but you have to face a cruel passage out to the Caribbean that cuts into your pleasure time. Seven months isn't long really, so if you are prepared to do a few overnighters and skip the dangerous or dull places you can maximise your pleasure time. We were in the Caribbean for five months and that was way too short. Our favourites were Barbados, Grenada, Carriacou, Bequia, Martinique, The Saintes and Antigua.

Don't forget you will be selling at the end of the season. This and prevailing market conditions will determine the price you get and how long before you sell the boat. You will be finishing your sabbatical at the beginning of the hurricane season, so there will not be many buyers around in the Caribbean and you will have the headache or the risk of hurricane avoidance.

Lagoons would top my list, because of the outstanding headroom, visibility and sheer livability they offer (but then I'm prejudiced).

Chris
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Old 15-09-2008, 17:37   #4
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Thanks for your input Chris, Yes, I have considered the option of buying at the south end of the Caribbean and heading North. I've read the Gentleman's guide to Passages South the Thornless path to Windward and Bruce Van Sant also suggests this. We've spent a couple weeks in the Grenadines and Tabago Cays....Amazing Trip!!! This does sound very appealing but I was thinking that we would spend time doing Cuba, Belize, Rio Dulce in Guatamala and possibly the Caymans. Therefore, the starting point of Florida it would fit our plans better. The Lagoon 420 does look like beautiful Cat with lots of room. Our family would enjoy the space afforded with the Lagoon 420. In your opinion would the Lagoon 420 hold it's value over 1 years time. We could sell after the hurricane season to optimize the selling price.
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Old 15-09-2008, 18:11   #5
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Hi Rick,What is the name largest multihull brokerage in the world? I've been looking for boats on Yacht World for the last year but I'm just getting my feet wet on Cruisers Forum.
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Old 15-09-2008, 18:19   #6
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A 38 to 42 foot Cat would fit the families need,
boat 2 to 3 years old
a budget when I'm done of $400,000.
I haven't seen one of those.

There is this Manta I noted though. It is 7yrs old though.

2001 Manta 42 Boat For Sale
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Old 15-09-2008, 18:21   #7
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If you are trying not to lose your shirt when you go to resell your boat, then production boats tend to hold their value better than custom boats. A boat that is a few years old and not beat to hell is the sweet spot. In your situation, you probably don't want to spend more time getting it ready for cruising than actually cruising the boat.
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Old 15-09-2008, 18:33   #8
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Hi Rick,What is the name largest multihull brokerage in the world? I've been looking for boats on Yacht World for the last year but I'm just getting my feet wet on Cruisers Forum.
The Catamaran Company Overview
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Old 15-09-2008, 19:58   #9
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Have you considered that you might be better off financially not buying, but working out a good deal on a 7 month lease or long term rental, possibly through privately owned boats? I'd consider putting your needs in a few marine publications or web sites, under large catamaran wanted for extended rental.
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Old 15-09-2008, 21:36   #10
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I think planning to sail to Belize and Rio Dulce is not a good idea based on the latest incidents regarding sailing safety on that area.
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Old 15-09-2008, 22:51   #11
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Thanks ldrhawke, A 7 month lease or an extended Rental is an interesting idea but I'm a little sceptical with this due to the cost of Chartering a Cat is in the neighborhood of $6000 a week...even if I got a amazing deal of $1500 a week the total would come out to $42,000 for 7 month's. I was hoping that I woudn't have to drop that amount of cash on this trip, not unless anyone out there has an offer that would be more appealing.
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Old 15-09-2008, 23:09   #12
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Thanks SoftAir for the Headsup on Rio Dulce in Gautamala. I found this information on another board."Sunday, August 10, 2008 At approximately 10 p.m. on Saturday night, 4 men with machetes boarded an anchored vessel, with apparent intent to rob. When they were met with resistance, it became a cruisers biggest nightmare. Dan and Nancy Dryden had bought SUNDAY'S CHILD several months ago, and were looking forward to years of pleasant sailing experiences. They were anchored off the small cove near Monkey Bay Marina and Lubi's house when the incident occurred. Details are still somewhat sketchy, but in resisting the robbers, Dan was killed and Nancy, although seriously wounded, was able to use the VHF radio to summon help.The stations and boaters that still had their radios on at that hour came to assist, and Nancy was transported to a private hospital in Morales, reportedly with a punctured lung. The vessel has been secured, and all officials, including the U.S. Embassy, are aware of the attack. If anyone has information that may be pertinent to this incident, please make contact through the Chisme Vindicator at photoeditor@riodulcechisme.com The community is mourning Dan's senseless death, and understandably, is in shock that this could happen to one of us. Family members are en route from the states, and friends here are doing what they can to help Nancy until they arrive.Latest update: (edited) "4 men with machetes boarded an anchored vessel" Nancy has undergone surgery, and is doing well, expected to have no complications. She stated that she could identify the attackers in a line up.Rick at Ram Marine has offered to put the boat on the hard at no charge, for as long as she needs.My sympathy goes out to the Family and Friends.A little further down on this board this comment was made."For what it's worth, our charter company (TMM in Placencia) specifically warned against anchoring overnight anywhere along the river. We felt perfectly safe in the marina."We'll definitely think long and hard about whether or not we should travel this area.My family means everything to me.
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Old 16-09-2008, 06:29   #13
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Thanks ldrhawke, A 7 month lease or an extended Rental is an interesting idea but I'm a little sceptical with this due to the cost of Chartering a Cat is in the neighborhood of $6000 a week...even if I got a amazing deal of $1500 a week the total would come out to $42,000 for 7 month's. I was hoping that I woudn't have to drop that amount of cash on this trip, not unless anyone out there has an offer that would be more appealing.
What an interesting approach to a vacation. No where near feasible, yet interesting. Heck, I appreciate the morning humor!! Imagine not having to repair anything on a boat for 7 months, nor having to buy anything to outfit the vessel for the trip.

You're posting like you're going to fly to Florida, hop on the boat, and sail into the sunset!! What a perfect world that would be.

While I'm on this tack, please post the boat brokers name who's going to sell the boat for zero commission 7 months later.

Figure dockage at $1000 a month when you begin outfitting her and then again when you hang the For Sale sign on her. Add all this up and that $42,000 you don't want to spend is just too cheap.

I'd suggest forgoing boat ownership completely. Fly to your destination and rent a boat to do some day sailing.
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Old 16-09-2008, 06:44   #14
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"even if I got a amazing deal of $1500 a week the total would come out to $42,000 for 7 month's. I was hoping that I woudn't have to drop that amount of cash on this trip, not unless anyone out there has an offer that would be more appealing."

You'll drop $42k for sure if you buy anything new/nearly new unless you buy something with a long manufacturing lead time. Even if you buy something that has done most of its depreciating - minimum 5 years old, maybe nearer 10 - you'll still have brokers fees of maybe 6%? 8%? 10% to pay unless you try to sell privately.

I'll bet you can rent a decent cat for 7 months for maybe $20k-$25k if you do it privately and you pay repairs and maintenance - which you would be doing on your own boat anyway.

Right now that money will mean the difference, to someone, between keeping their boat or being forced to sell for financial reasons.
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Old 16-09-2008, 07:56   #15
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I hope you realize you are going to drop at least $42,000 in expenses, less the cost of a boat, for a family of four living aboard a sailboat in the islands for 7 months, even if you anchor out. It isn't as cheap as some people imagine. That isn't to say some crusty old sailor living aboard a boat, like a hermit, can't live for a lot less; but not with a family of four. If you follow some of the blogs of couples keeping track of expenses, while living aboard, averaging less than 5G per month is tough.
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