Need a cat, <$200K, 38-42ft, help

[TheNomadTrip]

So here's an update - I've now put an offer in on two boats at or under $150K.

One I didn't come to an agreement on, it's the FP Athena in MD (Hullaballoo). It's set up with every conceivable need and is ready to cruise, as is, right now. The owner, though, is not really trying to sell it (in my not-so-humble opinion). One engine has about 4K hours on it, the other around 100 (brand-spanking new). It shows pride in ownership and I would have been very happy on this boat, alas.

The second is a Lagoon 380 we found out of the country. We have a contract on it now, and although there's a language barrier and the specs/pictures are pretty sparse on the listing - I'm hoping for the best. If I get it at the price I offered, and it's in decent shape, I'll be happy. And I'll also disclose the price I paid on this thread - but until I get the boat or back out I can't.

I think $200K is very doable. And you may not get a 42' Catana for $200K, but if you keep an eye on the market you can find a boat in this price range.

It gets dicey in the $150K price range - which is where I've moved my budget to. But even then, it is possible.

[TheNomadTrip]

Originally Posted by Captain Ludd

TheNomadTrip.
I'm wondering how you are progressing in your hunt.
I'm starting my own hunt with pretty much the same parameters as you.

I apologize for dropping off the face of the Earth. Life paused my hunt for a bit, but I'm back.

[TheNomadTrip]

Originally Posted by Tropic Cat

In the real world price is a driving force, but people need to consider other parameters as well.

I respect that sentiment more now than I did when I started shopping for cats. Even moreso - the impact of good maintenance, continual upgrades, and proper outfitting for cruising.

But I will say it's awful hard to convince a seller to *give* me their boat (hell, some won't even negotiate much). And I don't know anyone that's going to finance my trip... So I guess I'm going to have to stick to caring about price. Bummer.

Oh, and I would be lying if said I hadn't considered Catalacs. But in the words of another member here, they're "fugly." If I dropping big coin on a boat, I'd like to feel some pride in the way it looks. Of course, this is just my opinion.

[RKsailsolo]

most here would agree with your opinion, whatever swirls thru your head when you approach your sailboat matters a great deal. From my view, aesthetics <visual appeal> is directly connected to why I love sailing.

[Dulcesuenos]

There is /was an 04 athena here in Fl for 130k it was clean and i. Decent shaoe w few issues but was needed some thongs to make it liveable/ cruiseworthy. Wife didnt like the storage or galley or salon so we passed but it was close.
Its very easy to buy a boat for a perceived good deal and dump another 30-50k into it . there's a 380 in Tx that was an ex charter probably purchased for 160 ish and im guessing by the time her re rigged re conditioned and got it ready to sell he has at least 200+ into it.

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[TheNomadTrip]

Originally Posted by Dulcesuenos

There is /was an 04 athena here in Fl for 130k it was clean and in decent shape w few issues but was needed some thongs to make it liveable/ cruiseworthy. Wife didn't like the storage or galley or salon so we passed but it was close.

I've heard this before. It's part of the reason I'm wasn't too keen on that Athena in MD. That and I'd lose pretty big on resale. The boat in question has some pretty serious upgrades though, it's a nice boat.

Originally Posted by Dulcesuenos

Its very easy to buy a boat for a perceived good deal and dump another 30-50k into it .

Yes, yes it is.

I was told the following and agree: The cheapest boat isn't always the cheapest boat.

[gtpinhei]

Originally Posted by TheNomadTrip

So here's an update - I've now put an offer in on two boats at or under $150K.

I think $200K is very doable. And you may not get a 42' Catana for $200K, but if you keep an eye on the market you can find a boat in this price range.

It gets dicey in the $150K price range - which is where I've moved my budget to. But even then, it is possible.

That is true, I have found many interesting boats under 200k, at 150k it is much harder to find something that really fits without either a good sum of investments or a lot of compromise.

[Dulcesuenos]

I know where there is a 93 ?privilige 39 for 70k. Needs some serious work though. Rig and sails and eng are good.
As for the Athena in Md he like many sellers will sit on it paying rent and insurance and upkeep , declining offers until one day they realize they should have taken the offer they recd a year ago. There's 04-09 38-42' cats coming out of svc in the 190-230k range, id buy the 04 athena at 130 and put 40k into and then you might have a boat worth 170 and its many years newer. The Md Athena youd never get never get financing as Buc values are really low on it. Unless you put 70% down


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[TheNomadTrip]

Originally Posted by Dulcesuenos

I know where there is a 93 ?privilige 39 for 70k. Needs some serious work though. Rig and sails and eng are good.

So I've been told by both a competent surveyor and a broker that the older P-37's and P-39's have a reputation for wet hulls. And the fix is pretty pricey. Anyone else heard this?

Originally Posted by Dulcesuenos

As for the Athena in Md he like many sellers will sit on it paying rent and insurance and upkeep , declining offers until one day they realize they should have taken the offer they recd a year ago. There's 04-09 38-42' cats coming out of svc in the 190-230k range, id buy the 04 athena at 130 and put 40k into and then you might have a boat worth 170 and its many years newer. The Md Athena youd never get never get financing as Buc values are really low on it. Unless you put 70% down

Yep. You forgot depreciation too. Every month that boat sits on the market he's losing value - not just paying to have it sit. At it's core, it's a 20 year old FP Athena. BUC puts it at the $100K mark. He's asking $180K. Ouch.

I realize there's a strong emotional attachment to one's boat, but you have to be realistic when it comes to the market. Boats priced right sell in a month or two. Boats not priced right don't sell for years. This one's been on the market for a year.

[jostalli]

Speaking of BUC, has anyone used BUC value in negotiations with a seller that worked? I just ran BUCvalue for 9 boats and the values were just where I expected for a retail price.

[TheNomadTrip]

Originally Posted by jostalli

Speaking of BUC, has anyone used BUC value in negotiations with a seller that worked? I just ran BUCvalue for 9 boats and the values were just where I expected for a retail price.

It just seems like another data point, and it's fairly subjective (what is "fair" condition?) and doesn't take into account any upgrades (folding props, extra freezer, new flooring). I can't imagine it making a big difference, but it may help a tiny bit.

My thoughts are that if an owner is really ready to sell, they price the boat right and negotiate a little. It will move.

If they aren't really ready to sell, not much will make a difference (including BUC value). It won't move.

[Sailing fast]

Originally Posted by jostalli

Speaking of BUC, has anyone used BUC value in negotiations with a seller that worked? I just ran BUCvalue for 9 boats and the values were just where I expected for a retail price.

Is a BUC value really relative for 10+ year old boats? There are so many factors that go into a valuable boat (engines, sails, systems, hull, history etc) that it doesn't seem to me that it is possible to put a value as you would on a car through KBB or edmunds. New, they can be compared, but outfitted fro cruising, that is a tough sell.

the value of a boat can go from 200K to a liability with a small change due to water infiltration or other high cost items.

As for picking a boat, everyone looks for a great deal. As many have attested, finding a boat that has been outfitted for cruising and never really exercised is the best case scenario.

Searching out "potential great deals" is just that... potential. As one of my junior high school teachers told me... Potential doesn't mean anything because you haven't shown anything yet. Which I think is very true

Some folks will sit on the sidelines waiting forever for the "best deal". I prefer to assess, reassess and move in a timely fashion. For work that can be 3 months, or a year. As for boats, I think looking at trends over a couple of years is useful, that way when you see a deal, you can recognize it and make the leap.

[Dockhead]

Originally Posted by Dulcesuenos

There is /was an 04 athena here in Fl for 130k it was clean and i. Decent shaoe w few issues but was needed some thongs to make it liveable/ cruiseworthy

I find that in many situations in life, what is lacking is a few thongs.

[Tropic Cat]

Originally Posted by TheNomadTrip

So here's an update - I've now put an offer in on two boats at or under $150K. .....

I think $200K is very doable. And you may not get a 42' Catana for $200K, but if you keep an eye on the market you can find a boat in this price range.

Sure you can Catana 42 for sale by owner

[TheNomadTrip]

Originally Posted by Dockhead

I find that in many situations in life, what is lacking is a few thongs.

Some thongs make almost any situation liveable, no?

On the Catana - you're right obviously. There's another one at $175K that can probably be had at $135K in the Keys. But it's a trainwreck, just call the listing broker.

But I (and likely other boat shoppers) are looking for a cat that isn't a money-pit and is within a few hours flight from the US. Right now, there aren't any Catana 42's that fit the bill. Otherwise, they'd be under contract with yours truly