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Old 06-06-2019, 19:00   #1
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Buying a mono in Australia and not going mad. Possible?

Long time on and off lurker, now finally registered as this year is the year. Yes I'm going to ruin my otherwise ok financial situation by being an owner rather than crew.

Something between 37 and 40ft, preferably in Qld, that doesn't need a whole lot doing to it and costs under AUD$100k. I want something I can use, mostly coastal (ultimately some bluewater but no Cape Horn type adventures) and happily tackle a bit of maintenance but I don't want a project.

A reasonable request? Maybe not.

All I can find is 30 - 40 year old clunkers advertised for about 4 times their actual worth with few photos to indicate real condition and various production boats that are about to need serious coin spent on them and they seem to be advertised for about twice their value.

Maybe its me but a 20 year old 40ft production yacht that more or less needs everything that wears replacing in the next year or two and asking 2/3rds of its replacement price strikes me as a dud deal.

How does one wade through this pool of broken old boats to find a good one. I'm interested to hear from owners who have bought similar sized and priced craft in Australia and come up with a winner.

The few brokers I have spoken to have mostly tried to talk me out of buying and just stick to crewing or insist that their listings are worth the asking price and aren't very interested in listening to offers.

Thoughts?

Regards, Andrew.
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Old 06-06-2019, 20:08   #2
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Re: Buying a mono in Australia and not going mad. Possible?

You could do worse than offer Leigh some cash ....
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Old 06-06-2019, 20:28   #3
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Re: Buying a mono in Australia and not going mad. Possible?

If you are prepared to travel, then Australia is not the place to buy. For what you want to 'invest', there are plenty places in US or the EU where you would pick up twice the boat for what you get here.

Having said that, walk the Marina's and talk with the owners on each row when you can. (and if you can get access). There is much to be said for word of mouth, and in our Marina, a number of sales have happened that didn't even reach the websites. E.g. there is a Roberts Spray beside me that has gone out twice since it was built about 5yrs ago, and he probably doesn't know he wants to sell it atm. Very well built, but since it was built, his missus just doesn't get the whole sailing thing...
There is a Jeanneau 37 something also on my row, that was a well maintained boat when the current owners bought it 4yrs ago. They played around with it a lot for the first season, the second season less, and last season, didn't even come down to stay or play. They also don't realise that they want to sell it either. Often if you find the right time, make an offer, you can get good boat at a reasonable price.

I personally researched for a number of years on Yachtworld and a bunch of other sites, and walked many marina miles to see what I liked about certain makes, layouts etc. If the Broker is not serious with pricing, particularly at this time of year down south, then it won't sell anyway.

In all honesty, I would have to hate to go through all the nonsense again. Be patient, there will always be another one coming up, but have all your ducks in a row for when the right one comes. Talk to ESANDA and the like, they sometimes have owners that need to liquidate pronto. Another eg, a Riviera 50 on my row, was up in Pittwater. The guy on my row had talked to a finance company that specialises in boat finance, and he was told about the boat. The guy was in it for $1.25mil now in the hands of the receiver, they accepted $750K after the survey, and the boat was in pristine condition.

Hope this helps a bit.
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Old 07-06-2019, 03:38   #4
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Re: Buying a mono in Australia and not going mad. Possible?

What about the 2003 Bavaria 38 in Hervey Bay for $95,000. I walked through it about 12 months ago and nothing wrong caught my eye if I remember correctly.
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Old 07-06-2019, 05:12   #5
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Re: Buying a mono in Australia and not going mad. Possible?

GDay
Check out my new add for Toccata a Jarkan 40 (bullet proof)
Built by Kanga Birtles (owner of Jarkan yachts) for himself, to do the Melb to Osaka
Spent 200k to make it better than when it left the factory Now asking 69k!
Advertised on this forum and www.webstermarine.com.au 0419343544
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Old 07-06-2019, 13:07   #6
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Re: Buying a mono in Australia and not going mad. Possible?

Keep on looking. You’re asking for a good deal to get something in good condition near 40’ for under 100k, but they do exist. Look at ones advertised a bit higher and try an offer, perhaps. The 2003 Bav38 is worth a look — check out Tino G and Patrick Laine on YouTube for more details on very similar boats, sounds like a fairly good price if it’s not been hammered or chartered.
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Old 07-06-2019, 13:22   #7
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Re: Buying a mono in Australia and not going mad. Possible?

Quote:
Originally Posted by TassieBloke View Post
There is a Jeanneau 37 something also on my row, that was a well maintained boat when the current owners bought it 4yrs ago. They played around with it a lot for the first season, the second season less, and last season, didn't even come down to stay or play. They also don't realise that they want to sell it either.



Sad, but this appears to be the usual story about cruising boats. They tend to sit in a marina until they fall apart, and eventually the owner decides to sell it, but everything needs replacing and the owner still thinks it's worth what he paid.
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Old 07-06-2019, 14:07   #8
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Re: Buying a mono in Australia and not going mad. Possible?

Take a look at this one - I haven't been on it myself but I do know the broker - he's a sail maker and real good bloke - a sailer.
He says it's a good boat..

https://yachthub.com/list/yachts-for.../baltic/232256
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Old 07-06-2019, 15:09   #9
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Re: Buying a mono in Australia and not going mad. Possible?

Quote:
Originally Posted by ghendoaus View Post
Take a look at this one - I haven't been on it myself but I do know the broker - he's a sail maker and real good bloke - a sailer.
He says it's a good boat..

https://yachthub.com/list/yachts-for.../baltic/232256



Damn that's a nice boat!
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Old 07-06-2019, 15:23   #10
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Re: Buying a mono in Australia and not going mad. Possible?

We went to Geelong to inspect a yacht a couple of years ago and before we left we ended up checking another 6 boats that were not on the market. When the owners saw us looking around all of a sudden they were interested in selling when a buyer was at the marina.
When you look at a boat that is listed for sale talk to the people on other boats at the marina for what they may know about the boat and if they know of any other boats that are one the market or owners who may be thinking about selling. You could be surprised at what you find.
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Old 07-06-2019, 18:41   #11
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Re: Buying a mono in Australia and not going mad. Possible?

Wow thank you everybody for the responses. There are a couple I hadn't seen such as the Jarkan. Lots of good advice there and some of the pick of crop I had looked at although all were slightly off my radar for various reasons. Mostly because they are not convenient to get too or I feel are bordering on being a bit old or seemingly are about to require fairly substantial work.
The Baltic is the standout for quality for bucks I think but any thoughts on a Vetus with 3500 hours?

I'm feeling a lot more positive about the possibilities now that I have been reminded about a few of the stand out boats on offer.

Whats the general thought here on age? Is it an issue. By the time I go to sell this purchase something like the Baltic will be 45 years old. How long does glass last? I guess it varies with poly versus vinyl versus epoxy but 45 years feels old, for old tech fibreglass.

Many thanks to everyone for the input. Its very much appreciated.
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Old 07-06-2019, 19:52   #12
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Re: Buying a mono in Australia and not going mad. Possible?

There's no question 40 years old is an old boat, but it depends very much on what's there. It does leave you a pretty significant amount of cash in reserve, and at least the rig and deck have been done.

At that age, you need to stop worrying about any residual value at all for resale. Will the boat do what you want for the money?
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Old 07-06-2019, 21:04   #13
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Re: Buying a mono in Australia and not going mad. Possible?

https://yachthub.com/list/yachts-for...dams-40/233215
If you thought you might venture off into the distance and don't mind something steel and "Functional" rather than glossy, this one caught my eye.
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Old 07-06-2019, 21:56   #14
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Re: Buying a mono in Australia and not going mad. Possible?

I am surveying the Baltic on Tuesday and I imagine if nothing bad is found my client will purchase her.
The age of fibreglass does not seem to matter much yet. The oldest fibreglass yacht I have surveyed was built in the 1960s and was still in good condition.
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Old 07-06-2019, 23:49   #15
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Re: Buying a mono in Australia and not going mad. Possible?

Fore and Aft it will be interesting to hear how you go with the Baltic. From the listing it seems rather good value with a fair bit of the kind of thing I am looking for such as a fresh rig etc. Not sure about those engines though but then maybe at the price you can factor in a fresh Yanmar for when the time comes.

Any thoughts here on Hunters ?

HUNTER 37 - CP YACHT SALES SUNSHINE COAST

HUNTER 33 - CP YACHT SALES SUNSHINE COAST

In regard to steel and timber I don't have a problem with either but the market seems to so I'm going to stick with GRP as if I decide to upgrade or loose interest I won't to be able to unload it fairly easily.

Interestingly whenever a Yacht Hub listing has sold on it I would have bought it to! ie. they are sensibly priced and well presented and seemingly well maintained. It does seem like if a boat is sensibly priced it sells, hence in my tiny mind most listings are over priced..??
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