"I've located a rather tired 20 year old 43-footer. They want $55,000. I've budgeted another $50,000 for a complete re-fit."
Is it a $105,000 dollar boat when you are done? Or is it an $80k boat?
If a 32 foot Ericson is giving you maintenance nightmares than I would suggest a tired 43 footer is probably 2X or 3X the headache.
If they are estimating $50k I would add 50% to that number. Yes labor is cheap
don't come from Asia. We pay a premium to get them here.
Let's say that you do spend $105,000 for a 43 foot boat. That's the cost of the boat. What you really have to ask yourself is after paying $105,000 for a "decent" boat are willing to pay $600-$1000 a month all in with insurance
, bottom cleaning
and maintenance for the priviliege of owning and operating a boat.
We are budgeting $500 a month for our little 26 footer. Others will probably chime in and say that it can be done for less. Probably but budget
more and be pleasantly surprised rather than budget
less and cry every time something breaks.
Since you sound like a person who wants to put it all in the hands of a boat yard crew you should be realistically prepared to pay what it takes.
BTW - There is a lot to be said for what you are suggesting - i.e. buy a tired boat and pay up front to have it refit. The key is a very good independent survey
. Do not take a survey from the boat yard that is going to do the work. Do not take a survey from the marina where it is currently based. Do not take a survey from any one connected with the owner or has anything to gain from you having the boat. Caveat sailor.
BTW - Set up a search on boats.com for anything in the region. There are a lot of $100,000 boats for sale
in Asia. Some are in sail away condition.
OK - SOmeone mentioned airplanes so I have to comment. There are a ton of similarities. A large supply of old airplanes with various levels of maintenance. A new motor for a private passenger airplane is usually worth 50-100% of the total airplane. You can't swap out powerplants and everything has to be FAA certified. There are folks who buy "great" $50k airplanes and then spend 80-100k on fixing them.
Regarding reliable Toyotas. Interesting analogy and one used by airplane guys a lot. The question is - How many 1977 Toyotas have been operated in as severe as an environment
as ours (high altitude or the ocean) and are still purring along like new. Cars are a horrible analogy to planes and boats.