Cruisers Forum
 


Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on Cruisers Forums. Advertise Here
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 10-10-2018, 11:06   #1
Marine Service Provider

Join Date: Jan 2018
Boat: FP Maldives
Posts: 303
Thoughts about a 30 years old boat

As already stated in other 3ds i am after my first cat.
Now i am thinking about a Privilege 39 and should soon travel to see one....but before deciding anything, some doubts already started to show up and i'd like to share with you and would like some inputs/ideas/opinions.
I already read a lot about how good these boats are, how seaworthy and well constructed, how many already succesfully circumnavigated, but....but i wonder if it does really worth it to get a 30 years old boat, beautiful but with arguably a surpassed design and probably with much to invest. And also quite expensive for the age: the model did keep value so other newer options are not very much far away price-wise, and this again makes me wonder.....at the end 100k for such an old boat?
I don't know: i always liked the boat, but wonder if it's a wise choice....30 years. And what if in 5 or 10 years i'll decide to sell it: will be ever possible to sell such a dinosaur?
Or maybe i am totally mistaken.....opinions?
Cheers.
riki is offline   Reply With Quote
Old 10-10-2018, 11:22   #2
Registered User

Join Date: Aug 2018
Location: Florida
Posts: 92
Re: Thoughts about a 30 years old boat

It's already done most of its depreciating in value.
KingGuppy is offline   Reply With Quote
Old 10-10-2018, 11:33   #3
Registered User
 
Bill O's Avatar

Join Date: Jul 2015
Boat: Bruce Bingham Christina 49
Posts: 3,328
Re: Thoughts about a 30 years old boat

May have difficulty securing a loan if you need to finance. Usually after 20 yrs, most are reluctant to provide loans except credit unions, etc.


Bill O.
__________________
Bill O.
KB3YMH
https://phoenixketch.blogspot.com/
Bill O is offline   Reply With Quote
Old 10-10-2018, 11:39   #4
Marine Service Provider

Join Date: Jan 2018
Boat: FP Maldives
Posts: 303
Re: Thoughts about a 30 years old boat

Quote:
Originally Posted by KingGuppy View Post
It's already done most of its depreciating in value.
I know, but after a certain vintage maybe it's not just a matter of price but to find a buyer, unless you sell really cheap. But my focus is really not on resale price.

Quote:
Originally Posted by Bill O View Post
May have difficulty securing a loan if you need to finance. Usually after 20 yrs, most are reluctant to provide loans except credit unions, etc.


Bill O.
Not financing.
riki is offline   Reply With Quote
Old 10-10-2018, 11:47   #5
Registered User
 
Bill O's Avatar

Join Date: Jul 2015
Boat: Bruce Bingham Christina 49
Posts: 3,328
Re: Thoughts about a 30 years old boat

Not financing, that's good.

We have a 42 yr old boat (monohull) and have had similar thoughts for resale. Upside for us is we tend to keep our boats for a while. Finding the right buyer for larger boats will always be an issue either newer or older.


Bill O.
__________________
Bill O.
KB3YMH
https://phoenixketch.blogspot.com/
Bill O is offline   Reply With Quote
Old 11-10-2018, 01:07   #6
Marine Service Provider

Join Date: Jan 2008
Location: Chessapeake
Boat: Island Spirit 401 Catamaran
Posts: 543
Re: Thoughts about a 30 years old boat

When reselling an older cat you're basically limited to a small subset of those interested in cats. You have to over come the issues of what is wrong with the boat and how soon something else will need repairing as well as how serious it'll be.

It'll probably take longer to sell and cost more in that you may need a pre-sale survey to reassure people that it's probably ok and you'll have extended mooring/slip fees waiting for the next owner to show up. You may also have limited interest by brokers in that their commissions will inevitably be lower than on a newer boat.

The thing you have going for you is that it is a good name which is still being marketed plus the condition of the boat assuming it is or will be near bristol.

Personally I've been sailing over sixty years and owned a cat for nearly 10. I would not probably be in that subset right now but I might have been 20 years ago if had I made the jump to cats back then. Good luck.
Ostinato is offline   Reply With Quote
Old 11-10-2018, 03:03   #7
Registered User
 
Christiansailin's Avatar

Join Date: Feb 2011
Posts: 57
Re: Thoughts about a 30 years old boat

If you like the boat and have the money, buy it if it works for you and what you intend to do with it. If resale is a the primary concern I probably wouldn’t invest too much. With older boats I don’t recommend financing if you can avoid.
Christiansailin is offline   Reply With Quote
Old 11-10-2018, 08:13   #8
Registered User
 
Scaramanga F25's Avatar

Join Date: Mar 2015
Posts: 971
Re: Thoughts about a 30 years old boat

It is all about maintenance.
Scaramanga F25 is offline   Reply With Quote
Old 11-10-2018, 08:20   #9
Registered User
 
akprb's Avatar

Join Date: Jan 2015
Location: Alaska
Boat: Boatless
Posts: 928
Re: Thoughts about a 30 years old boat

I asked the builder of our cat (who I was fortunate enough to meet in NZ and become friends with) how long she would last.

His reply (insert Dutch accent)

“She vill last foever, she is plastic”

Always struck me funny. Yes, systems are your concern and work hardening in the rig. Nothing that cannot be attended to!

Enjoy!
akprb is offline   Reply With Quote
Old 11-10-2018, 08:22   #10
Registered User
 
Bill O's Avatar

Join Date: Jul 2015
Boat: Bruce Bingham Christina 49
Posts: 3,328
Re: Thoughts about a 30 years old boat

Quote:
Originally Posted by Christiansailin View Post
If you like the boat and have the money, buy it if it works for you and what you intend to do with it.

Agree with this and would add in that boats are typically a luxury item which you recoup very little of sweat equity or $$ spent. Also every boat is a compromise, so just try to enjoy.


Bill O.
__________________
Bill O.
KB3YMH
https://phoenixketch.blogspot.com/
Bill O is offline   Reply With Quote
Old 11-10-2018, 10:02   #11
Registered User
 
gulfcoastsailor's Avatar

Join Date: Jul 2006
Location: Florida
Boat: Freedom 32
Posts: 224
Images: 2
Re: Thoughts about a 30 years old boat

To the statement “boats are a luxury”. Suggestion; do not finance luxuries in life. Stay within a cash budget with a third held back for repairs and upgrading.
Another point of opinion; a boat has two ages. Chronological and effective. There can be great disparity between the two. If the boat is of a historical vintage (over 20 years) and has not received any updating or refit then it is the year it was built. If previous owners have upgraded repaired and generally kept the boat in great shape it may have an effective age of a decade newer or maybe more. That is where surveys are worth every penny. Good luck.
gulfcoastsailor is offline   Reply With Quote
Old 11-10-2018, 10:12   #12
Registered User

Join Date: Dec 2014
Location: New Franklin, Ohio
Boat: Homebuilt schooner 64 ft. Sold.
Posts: 1,486
Re: Thoughts about a 30 years old boat

As a guesstimate, you could probably cruise that boat for six to eight years and still sell it for $75,000 +. LOTS of people want cats as witnessed by regular inquiries about salvaged cats. Stop and think about it, which would you rather buy, an older cat for $75,000 or a half sunk cat for $40,000 that needs $80,000 worth of restoration. And I am being conservative here.
captlloyd is offline   Reply With Quote
Old 11-10-2018, 10:48   #13
Registered User
 
FionaJC's Avatar

Join Date: Dec 2016
Location: East Coast UK
Boat: Colvic 40' Ketch
Posts: 277
Re: Thoughts about a 30 years old boat

As the owner of a 38 year old ketch I wouldnt worry unless you plan to resell. I did my yachmaster in a modern Beneteau, yes it was faster than mine of the same length but it tended to "skit" all over the surface on a swell or in a blow. My 6 ton 40' is "wineglass comfort" I notice most of the new boats are bolt-on keels with a beamy hull, usually to accomodate two heads. I'm happier getting stuck in the putty with my older boat as well. Recently we lost a mizzen mast to scaffolding - dont ask - and the coachroof stayed intact as it was 1" thick fibreglass. Otherwise we would have lost the top.
FionaJC is offline   Reply With Quote
Old 11-10-2018, 10:51   #14
cruiser

Join Date: Jan 2017
Boat: Retired from CF
Posts: 13,317
Re: Thoughts about a 30 years old boat

Never expect to get money back, it is not an asset financially but a consumption good.

Keeping it for a long time means the amortized expense per year can eventually be more reasonable.

If you get **anything** back selling it, that's just gravy, and likely a tiny fraction of the overall money spent.
john61ct is offline   Reply With Quote
Old 11-10-2018, 12:25   #15
Registered User

Join Date: Oct 2017
Location: South Florida
Boat: 1987 Ericson 38-200
Posts: 119
Re: Thoughts about a 30 years old boat

I love my 31-year-old Ericson 38! The wood work is astoundingly beautiful. The glass is thoroughly wetted out. The boat is solid, stiff and has a solid lead keel. Old boats we're generally built to a much higher standard.
drewm3i is offline   Reply With Quote
Reply

Tags
boat

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Buy a "new" old boat or an "old" old boat?? jimp1234 General Sailing Forum 30 10-06-2023 16:29
440: Replacing Skin Fittings And Ball-valves The Boat's 5 Years Old. Lagoon4us Lagoon Catamarans 115 14-02-2015 23:42
Crew Available: 24 years old male wants to crew on sail boat to south america philz_good Crew Archives 0 23-10-2014 19:37
Building a drift boat - 17 years old tmeeks Construction, Maintenance & Refit 0 09-01-2013 00:44
2 years planning, 2 years sailing...was it worth it? ABSOLUTLY!!! kingfish General Sailing Forum 14 19-04-2009 16:35

Advertise Here


All times are GMT -7. The time now is 21:51.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.