Age vs price: What's the best value for a used catamaran?

[SVNeko]

Originally Posted by RiskyScheme

Seems like the ideal would be someone with money who bought the boat new and outfitted it the way you would like more or less, then barely used it while it depreciated for 3 or more years.

Sounds like the S/V Unicorn.

[pbmaise]

As a larger multi owner I track the Lagoon 620.

Kitted, new $2-2.3mm

Used just 2-3 years $1.5-$1.7mm

That depreciation means to me any new Lagoon 620 isn't the way to go. This is especially true since most Lagoon owners in this size range are not using them much.

Several problems for current Lagoon 620 force them to drop asking price so fast:

1. People that can afford a Lagoon 620 along with operating costs, and marina fees can usually afford brand new.

2. The first bill for haul out and bottom paint is a shocker. Owing to a grp styrene construction osmosis requires the haulouts.

3. The full baton mainsail is high maintenance.
4. They grow bored with it and discover they have no time to sail. Further friends in their bracket don't have time either.

.........

Where multi-hulls are by far the best value is when a current owner refuses to sell.

It is at this price point that market is controlled more by the seller and not the buyer.

Imagine a second you were a Lagoon 620 owner. At what point would you tell a buyer take a hike? That the vessel was worth more to you and you were willing to continue paying costs until the right buyer is found.

It is at this price point you know that if you continue to maintain the vessel you will not suffer depreciation.

[pbmaise]

part 2

part 2

The "deal" is the upset in this situation. What a deal really is an offering price below what the typical owner woud normally accept.


A stress upon an owner, old age and death are common, forces the boat onto the market with an owner willing to except the "low ball" offer.

When striving to buy at a "deal" price it is important to act fast and be willing to accept consequences.

It further isn't right to cloud your mind with thoughts that you can get a deal. Unless:
A. Many similar vessels are a pool for that infrequent distressed owner.
B. You can act fast.
C. Accept risk.
D. Are willing to immediately travel to inspect the deal.

[RKsailsolo]

Refreshingly clear and useful insight. Thanks

[ZULU40]

now if you were talking mono's ?

Its funny but, any given day you can see deals in the $10k-$20k bracket and of modest 30ft or so sizes. Any one of them could make a nice frisky cruiser while being cheap to restore. And true there used to be quite a few cats in this market footage from Sailcraft models like Iroquois and the Prouts and the like.

But for some reason many of those builders went broke, and builders of cats have largely depopulated this market in favour of the 38-45ft market, probably largely supported by the bareboat industry.

So if you see a cat in this smaller cruising size its going to be neglected tired worn out junk in need of a complete rebuild, there just isnt the same population of hulls out there like there are for monos. Otherwise if its condition is 70% OK it will hold a good value that is still in touch with the boats in the 8-12 yr old bracket.

If you go much further back in time than this the buyer opportunities begin to slim as the bareboat market of the day supported larger monos, and there were fewer builds of cats in the larger sizes.

Undeterred press the restoration case and see where that lands us. Begin with costing the hardware inventory with a view to replace everything that would be potentially doubtful. Once you have gone through engines rig and electronics, considered the haul out and refinishing, pulled out a doubtful interior fittings and portlights; fabricated to new surface finishes, wiring and soft furnishings.

Its going to be an expensive business, but it is a boat fitted to the standards you hold dear and almost irreplaceable in todays market. The problem is this is not to say it is better than the new designs out there, for technically cats in particular have moved on considerably over 20-30 years. That on top of a higher base price doesnt make for a good value proposition.

At the end of the day the knowledge I hold to be true is that the numerically smaller cat market doesnt make for an affordable cost structure until you get up in values to the drain from the bareboat industry. So the cost effective alternatives are the almost scrap boats as restoration projects, or $100k+ ex charter.

[hellsop]

Originally Posted by Palarran

The PO of Palarran bought the boat new and hired a full time captain to live on it and wait for him to visit, which he did. About 9 times in 9 years. His wife only went twice, his son once, and the daughter who the boat was named for, none. It was a shame but had two other large sport fishers and Palarran didn't make the cut.

So the boat was near brand new but almost never used, which made it bad. Many of the motors were seized up, the engines sat and rusted to crap, etc. I had to spend a lot of boat bucks to get her back into very good shape mechanically. The interior was perfect. But why I right this is that for the 9 times the PO used it, it cost him about 60% of the boats value.

Moral: Don't hire that captain to look after your boat. How the heck do you draw a salary for nine years and not keep up with the maintenance, like running the engines a couple of hours a week to make sure they work? Just maintaining the interior has a different title: chambermaid.

[yardie]

Ozone h,


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