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Old 10-10-2018, 12:06   #1
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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.
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Old 10-10-2018, 12:22   #2
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Re: Thoughts about a 30 years old boat

It's already done most of its depreciating in value.
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Old 10-10-2018, 12:33   #3
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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.


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Old 10-10-2018, 12:39   #4
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Re: Thoughts about a 30 years old boat

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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.

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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.


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Not financing.
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Old 10-10-2018, 12:47   #5
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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.


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Old 11-10-2018, 02:07   #6
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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.
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Old 11-10-2018, 04:03   #7
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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.
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Old 11-10-2018, 09:13   #8
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Re: Thoughts about a 30 years old boat

It is all about maintenance.
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Old 11-10-2018, 09:20   #9
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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!
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Old 11-10-2018, 09:22   #10
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Re: Thoughts about a 30 years old boat

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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.


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Old 11-10-2018, 11:02   #11
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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.
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Old 11-10-2018, 11:12   #12
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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.
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Old 11-10-2018, 11:48   #13
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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.
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Old 11-10-2018, 11:51   #14
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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.
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Old 11-10-2018, 13:25   #15
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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.
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