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Old 16-08-2015, 12:32   #16
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Re: Refitting that old bargain boat....

Quote:
Originally Posted by DSDman View Post
All logic aside, I'm forever intrigued by the diamond in the rough!

Sent from my XT1030 using Cruisers Sailing Forum mobile app
Yes, that seems to be my disease also!
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Old 16-08-2015, 22:46   #17
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Re: Refitting that old bargain boat....

The single most important concept you MUST understand in buying any boat is the concept of NEGATIVE VALUE.
a simple example; a boat advertised for $30000 - just needs a bit of TLC - on close inspection it is fairly obvious that for this boat to be worth $30000, at least $50000 has to be spent on it, giving the boat a NEGATIVE value of $20000. If you think that sounds excessive - you havent bought a bargain boat yet, have you?
Of course the problem lies in trying to convince some proud junkheap owner to give you $20000 to take his boat away. I've never tried because i walk away from any sale with a negative value - for the simple reason that what you are actually paying for is some idiots deferred maintenance costs. i always feel strangely uncharitable towards people who want this type of handout - they got to enjoy whatever use was in the boat, I get to pay for their enjoyment.
Caveat Emptor.
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Old 16-08-2015, 23:58   #18
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Re: Refitting that old bargain boat....

My advice to anyone thinking of buying an old 'fixer-upper'... if you must buy old then buy a 'fixed-up' one.. you will still find plenty that needs fixing....

meanwhile ... 'laid up ashore Tigre....needs a little TLC' ...
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Old 17-08-2015, 07:55   #19
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Re: Refitting that old bargain boat....

Quote:
Originally Posted by charliehows View Post
The single most important concept you MUST understand in buying any boat is the concept of NEGATIVE VALUE.
a simple example; a boat advertised for $30000 - just needs a bit of TLC - on close inspection it is fairly obvious that for this boat to be worth $30000, at least $50000 has to be spent on it, giving the boat a NEGATIVE value of $20000. If you think that sounds excessive - you havent bought a bargain boat yet, have you?
Of course the problem lies in trying to convince some proud junkheap owner to give you $20000 to take his boat away. I've never tried because i walk away from any sale with a negative value - for the simple reason that what you are actually paying for is some idiots deferred maintenance costs. i always feel strangely uncharitable towards people who want this type of handout - they got to enjoy whatever use was in the boat, I get to pay for their enjoyment.
Caveat Emptor.

Well said, Charlie!
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Old 17-08-2015, 09:08   #20
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Re: Refitting that old bargain boat....

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Originally Posted by Cheechako View Post
the plan......
Isn't that the truth. Now take any one of those large indentations in the earth and start filling it up with $100 bills and welcome to my world.

That being said though.....this isn't our first rodeo yet we keep saddling up so there is a payoff for us that goes beyond the dollars spent. It's not something that I can articulate even after all these years of doing it over and over.

But I think this is our last ride.
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Old 17-08-2015, 09:20   #21
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Re: Refitting that old bargain boat....

I bought my project boat with zero experience on old sailboats but lots of experience on boats from all my junk power boats and racing beach catamarans both old and new.

I did a lengthy survey on this boat mainly looking for soft spots and found none even though the boat was a 1974 and had been on the hard for 5 years. It had been left at the boatyard I found it at on the PO's return cruise from Florida back to Massachusetts.

Not considering this point too much, I just look the boat over on several occasions then forked over the $2,000.

Only later did I realize the significance of the PO's cruise. On CF, folks talk continually about pre-cruise boat prep.

I bought this boat to learn monohulls so I went about planning to replace old thru hull hoses, stuffing box packing, rigging, etc. only to find that it appeared to have been done fairly recently. (or at least worn parts replaced) I figured I'd have it a couple years then get a larger boat but since I'm still working I realized this boat would handle most anything I would be doing for the foreseeable future

Another key point on these old boats is to get a good brand. I had heard of Bristol and with a little research found out that they were pretty well built.

But it was still a project boat: (costs since 2011)

Boat- $2,000
Diesel- $1,300
New Main- $1,600
New Outboard (to replace old diesel) - $1,500
Bottom Job - $300.00
Inverters (3) - $200.00 (I blew one up)
Solar- $200.00
Controllers- $50.00
Bottom Job and Topside- $500.00
Outboard bracket/mount- $400.00
Lifelines- (Dyneema/spectra)- $100.00
New Autopilot - $400.00
Washed all Running Rigging- $3.29 (Ivory Liquid)

Had the boat in winds to 34 knots (passing squall) and 30 mph for 4 hours running down wind and it was like being on a beach cat in 12 knots. The boat just cruised along as if everything was normal and I guess it was for a boat like this one in the direction I was sailing at the time.
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Old 17-08-2015, 16:02   #22
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Re: Refitting that old bargain boat....

If you know what to look for, you can get quite a bit out of a project boat.

Just the work alone can help a person in certain situations. Holding a 6" sander for a few hours can sometimes be a relief from worry because you have to be totally into what you are doing.

Not quite as into it as say a mountain climber where one screw up he drops 4000' but into it never the less.

This guy got quite a bit out of his project boat.

Joshua Slocum
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Old 17-08-2015, 17:43   #23
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Re: Refitting that old bargain boat....

Slocum brought a whole lot to the table.
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