I remember looking at this boat too. As other posters mentioned, she is a beautiful tri with some refit
accomplished already... but plenty more required.
One thing that concerned me is that she had never been outside the bay. I'd need an extensive survey
to know she'd hold together in big seas. My plan was to buy her and take her to the PI for a major refit but I figured I needed to put in another $30,000 just to make her sea-worthy for such a crossing. Then another $100K for the refit but she would have the interior
quality of a $750,000 yacht when all was said and done. My plan was to gut the interior
and have a shipwright outfit her with a modern look, then to do the same with her the topsides. In the end I walked away though... and I continue to look for the right Horstman Tristar to refit. Still looking. It's all about finding the right boat at the right price, isn't it? I felt I could make her a $750,000 value in my eyes/ mind. But that I would never be able to recoup my investment. IOW, even if i paid $90,000 and put in another $130,000, I dont' feel she would have been re-sellable at $220,000. The market for trimarans is just too narrow. People with $220,000 to spend for a used multihull
to spend typically look toward '98-2004 year production cats for that same price. And finding a bank that will finance a homebuilt tri made out of wood would be another variable. So it wasn't that I didn't think she was worth the investment, but rather whether I'd ever be able to get out of her if and when the time came. Just look at how long it's taken the owner of Desiderata to sell her and how much he's had to come down in price. (BTW, Desiderata, Horstman 46, is 10x the Tri in terms of build quality and accoutrements that I've ever seen in the many boats I've viewed to purchase
. She is an outstanding tri but at the time I looked at her, shortly after the GFC market crash of '08-'09, I could't find a bank that would finance her (even with a 820+ FICO) and I didn't have the $200,000 the owner wanted just laying around. I
Whenever I purchase
and asset like land, boat, cars, these days I always ask myself will I be able to unload this and for how much? Then I make my offer according to that answer. If I can't come to terms I walk away.
Does anyone know what the new owner has done with the 50' Horstman that this thread is about? I believe David traded her for some property. I'd love to see what has become of her by now. She was a beautiful tri regardless of current
state at the time. She had tons of potential.