1994 Bristol Channel Cutter - what would you pay?

[terminalcitygrl]

There have been many posts about the current market and what a fair offer/ sell price is. Lots of advice on pay what it's worth to you, depends on condition, yada, yada, yada. I saw this ad on Craigslist and thought this might be a fun experiment. I know the BCC is generally a boat held in high regard and commands a premium price. Some love their classic look, some think they are too heavy and antiquated. Regardless, here is an ad with some photos & deets. The boat seems to be in exceptional condition, has a watermaker, EPIRB and life raft, basically she is ready to cruise. She is almost 20 years old. Owner is asking for $110,000. Samuel L. Morse Bristol Channel Cutter Sailboat For Sale | Hull 102 – Available for Viewing in Sidney, BC CANADA

So, for a little fun:

If you were in the market for a small cruiser, would you consider buying her? Why or why not? What would you pay for her - initial offer & max price?
How do you think she compares to other boats in terms of value and condition on today's market? Other thoughts?

No, we're not interested in her. I just thought this might be an interesting example to use in a conversation to explore people's thoughts on the current boat market.

[Mainebristol]

This is the very definition of a buyer's market! I would offer maybe $60,000. We are not here to make friends, are we? But only if it was exactly what I wanted. And pending an inspection. $3,000 to be held in escrow to fix anything wrong.

[goat]

You're paying for a 38-40 foot slip for a 28 foot boat. That's an awful long bowsprit to reach the foresail. Not to mention $100000 for a twenty year old, 28' boat.

Romantics ignore previous statement.

[terminalcitygrl]

I saw the ad and thought holy cow! To me, this is a classic example of an owner who thinks his boat is worth far more than it actually is. Of course I could be wrong which is why I thought it would be fun to post and see what other folks say. I'm sure this guy is in the camp that if someone offered him say $60k he'd be offended and believe the buyer doesn't appreciate the boats real worth, didn't do their homework, etc, etc, but I'd argue this boat is only worth $110k to him. I'd be astonished if anyone paid anything close to that price for this boat. I mean look at what else you can get for $110k!

[Jim Cate]

IMO, the BCC has long been an overpriced item. It is attractive to traditionalists, and the build quality is generally good, but really...

We've known and cruised in company with several BCC's. My personal observation is that they are not nearly as fast as their proponents claim, they are very wet in any kind of a seaway, and the accommodations are cramped, and engine access is poor, and...

But, the Lyle Hess cult is alive and well, and that seems to drive up the price. If the mystique is valuable to you, go right ahead and spend the money. If not, well, there are a lot of nice boats in that price range!

Cheers,

Jim

[Adodero]

Originally Posted by terminalcitygrl

I saw the ad and thought holy cow! To me, this is a classic example of an owner who thinks his boat is worth far more than it actually is.!

These boats command a premium, always have. I don't think $110k is that unreasonable given how she is equipped. If you browse around, you'll find early 80's examples selling for around $90k, so the owner is not really that far out of the ballpark. TBH I'd have expected a $150k price range for one of this year and condition, but I'm not an expert (I only see them listed on occasion and drool for a little while).

I think most people see a 28 foot boat and immediately assume a certain price range that 98% of boats fit into (number made up on the spot) based on year, condition, etc. There are always exceptions, though, and the BCC is definitely one of them. If I had the money, I wouldn't hesitate to spend $100k for a well equipped BCC. There is a lot more to them than most other 28 ft boats.

IMO, the appeal of this boat is similar to boats like the Flicka 20. Either you love it or you wonder if someone spending $xx,000 on an old boat that's only 20(28) ft should be institutionalized.

[Celestialsailor]

There is still one for sale in the SF bay area. I met the guy at a swap meet some time back and he had to sell because his wife became ill. He was asking $115K. Like Jim said...there is a following for these. Whether they have $100K+ in their pockets is another story.
This thread is fine but usually brings the worst out in people with ridiculous offers. I always say...keep countering lower until the owner punches you in the nose. I guess to make a decent offer, if you really wanted one, would be to see what others are selling for and drop maybe 10-15% and see what happens. Every seller is different. Maybe a guy that has sat with a for sale sign for 2 years might be motivated.

[Ocean Girl]

They are sweet sweet vessels. I wouldn't pay that much for one. Rather a more modern vessel with more comforts(more livable space down below). My friend sold his fully outfitted CD40 ('94 I think) for less. The boat had just finished a circumnavigation, but looked brand new.

[robert sailor]

These boats do have a cult like following, they are a fiberglass version of the Pardey's boat for the most part and do command a pretty penny.
Whether its worth the asking price is neither here nor there, as it will eventually sell for a high price compared to any other 28 foot sailboat.
You can't compare this boat to your typical Clorox bleach bottle production boat as it will, if properly looked after, hold its value much better.
In life there are always those that seek out something different or unique so as to stand out from the crowd and they pay for it....doesn't make sense to the masses.

[boatman61]

Its a bit like asking if a Jensen Interceptor in good condition is worth the price... personally I thought it was a **** car back then.. but there are the aficianados.... so its you pay for the cult status.. or move on..
Mind they are purty boats..

[SkiprJohn]

Alert. Just restating the obvious here.

Bristol Channel Cutters or any other boats are only worth what a person is willing to pay. Sometimes you pay for a really solid quality boat and sometimes you pay for the name behind it and sometimes you pay for a combination of the two. If the seller thinks his boat is worth $100K or more then he must be willing to wait for someone who feels the same way to come by with that much money to spend for the reputation of his boat.

I've watched boats on the market with very high prices just sit there for years. Seller has to be willing to pay dock/moorage fees and insurance to wait out the market.

[terminalcitygrl]

Well I was asking with this thread that people would share their own thoughts about this particular boat rather than the tired old "a boat is worth what someone will pay for it" - okay, yeah, but what would YOU pay and why or why not? Personally I think it would take a special kind of person to plunk down $110k for this boat. People seem to often note that many sellers, because of an emotional connection to their boat and the price they paid for it + the work/ cash they put into it perhaps, price their boats at at odds with what the market will bear. Other folks think an offer that is not of the 10-15% less than list standard is worthy of offence and even worse. I'm just trying to gauge if there is a standard at which people might be more or less in agreement that a particular boat is listed at a price that is um, unrealistic? Guess not.

[Celestialsailor]

You asked a question...people gave you there opinions. You can't control how people react to it. Like SkiprJohn said "what a person is willing to pay". Seems like a pretty straight forward answer.

[boatman61]

Would I buy a BCC... Yes.
Would I buy this one at this price.. No.

[SkiprJohn]

Originally Posted by terminalcitygrl

Well I was asking with this thread that people would share their own thoughts about this particular boat rather than the tired old "a boat is worth what someone will pay for it" - okay, yeah, but what would YOU pay and why or why not? Personally I think it would take a special kind of person to plunk down $110k for this boat. People seem to often note that many sellers, because of an emotional connection to their boat and the price they paid for it + the work/ cash they put into it perhaps, price their boats at at odds with what the market will bear. Other folks think an offer that is not of the 10-15% less than list standard is worthy of offence and even worse. I'm just trying to gauge if there is a standard at which people might be more or less in agreement that a particular boat is listed at a price that is um, unrealistic? Guess not.

That's why I put the little alert there. I was restating the obvious. You really didn't need to agree with it but it is your thread so have at it.

Yes, I would like a Bristol Channel Cutter but I can buy a Mariner 36 Cutter made in the Tayana yard here on the island for $25K. It has way more room and a newer engine and was designed by Bill Garden who is one of my favorite and is a well respected designer. So I would not pay even $25K for the BCC.

Just my opinion. Is that a better answer?