Selling my boat

[SqPeg]

I have located a buyer for my 2004 Catalina 320. He had it surveyed. That was OK for a boat of that vintage but he claims that the standing rigging should be replaced every 10 years and he wants it done. Thoughts?

[Benz]

It's a bargaining tool, but his future insurer might insist on a re-rig, so he might turn it into a deal-breaker.
Get a quote for the work, then bargain a price reduction based on that. 10 years is the usual insurance-mandated re-rig time.

[5BTM]

Did your add mention the age of your boat?

The buyer has to pay the price of a 2024 boat if they want a brand new rig.

My answer would be no.

[Pete7]

Out of curiosity when was the rigging last replaced?

Pete

[MicHughV]

I don't get this 10 year replacement thing. Who came up with this number and why ??
Why not 9.5 years ? etc, etc.
Does it matter if the boat is in fresh water or salt water?
Was the boat raced ?

I've never had rigging replaced...not ever.

Seems to me that the insurance folk are stepping into a field they are not qualified to do so. Maybe somewhere, sometime, some rigging failed on a particular boat for an unknown reason, and now all boats get thrown under the bus so to speak.

Insurance companies tend to have a knee jerk reaction whenever someone files a claim. They don't like paying claims, they only like picking up your monthly dues.

Rant over. If the new buyer wants new rigging, tell him he is free to do so, once he has purchased the boat.

[5BTM]

I have this clause on my insurance policy

"Marine Appraisal mandatory before the start of the navigation
period in 2025."

79 CS27.

My club asks for proof of insurance before launch and haulout. I don't think there are any young boats at the club.

[Cheyne]

When we were thinking about sell our boat we had a deal fall through because of the age of the rigging. The buyer wanted a big discount. More than the rigging would have cost to replace. For the hassles he told our broker. I just walked away from the deal. In our case the rigging was surveyed as part of the deal and the rigger said it was 10 years old, we had reciepts from the previous owner, but was in very good condition and he would only consider doing the rigging if insurance requested it or they found a problem later.

Cheyne

[MicHughV]

Yep, besides the rigging life issue, insurance companies are now also balking at insuring older boats.
Marina's are requiring " liability" coverage, etc, etc.

I think the insurance industry has wiggled it's way into every facet of our lives.
Anything and everything seems to need insurance....or not as the case may be for older boats..

[Shrew]

My assumption is that the boat is priced based on the age and condition of the boat and systems. I can understand if the boat is supposed to have a rudder, or supposed to have standing and running rigging. If it's broken or missing, that is grounds for negotiation.

Preventative maintenance is not a justifiable negotiation tool in my opinion. I definitely wouldn't pay for it. I would consider negotiating a percentage of the cost and reducing the sell price. But certainly not the entire job.

[MicHughV]

Plenty of other boats to look at and chose from.

Tell the buyer he is free to look at other boats.....simple...take it or leave it...

Re-rigging is an expensive and time consuming project, can be done in the water or mast needs to be pulled.

Where does this stop. New electronics, new bottom paint, new sails,,,???

That's like buying a used car and expecting the seller to put new tires on it for you.
Ha ha, that will be the day...

[5BTM]

Originally Posted by Shrew

My assumption is that the boat is priced based on the age and condition of the boat and systems. I can understand if the boat is supposed to have a rudder, or supposed to have standing and running rigging. If it's broken or missing, that is grounds for negotiation.

Preventative maintenance is not a justifiable negotiation tool in my opinion. I definitely wouldn't pay for it. I would consider negotiating a percentage of the cost and reducing the sell price. But certainly not the entire job.

I agree.
In this specific case I whould just say no, without a counter offer.
Let them eat the cost of survey, gas money or plane ticket.

[Kettlewell]

Survey results always result in bargaining by purchasers. He's paid for the survey, so obviously wants the boat. You might want to offer a reduction of say $1,000 to make him feel like continuing with the deal, or you might not.

[HeinSdL]

Ignore this buyer, not worth selling your boat to. I would NEVER expect the seller to replace the standing rigging for me. Just did it on my own boat and this is one piece of kit I will have my nose on when replacing it. Even having used a top notch rigger I needed to supervise. Especially the workers actually doing the work who obviously didn't give a toss about my boat or my peace of mind when out at sea.

So a small discount maybe but if the buyer expects you to do it then that person is to be discarded as the future owner of, presumably, your 'love and joy'.

[Mike OReilly]

Did you disclose the age of the rigging during the selling process? If you did, then the potential buyer made their offer based on this disclosure. It's not your problem if the buyer's insurance companies wants shinny new rigging.

Up to you if you want to bargain, but the game of using the survey to try and renegotiate around previously known issues is a sign to find another buyer. Or, if the buyer wants the job done prior to the sale, then increase your price by the commensurate amount. Since they've reneged on the original sales agreement, you are not bound by the original sale price either.

[Calif.Ted]

I'd certainly start from a position that your asking price was "as is, where is". That being said I just replaced rigging on my 2002 C320,~$7500 all in, $2500 to the yard and $5000 for the rigger and parts. I had several reasons besides the age.
I'd heard of several 320's getting done in my small harbor over the last year.
I have a bit of OCD and every time I looked up while sailing all I could think was "Is that rust ?".
My rigger has sold his boat and plans to retire and travel in an RV, (go figure). He had done several 320's with the mast up recently but advised we'd be better off unstepping. He was right, it was a bear even on the ground. The intermediate shrouds go into the spreader bars and requires removing spreaders to replace. Lot of effort and even a torch in my case to get them off.
10 years ago I bought spreader boots (isomat) for $17.99 a pair, they are no longer made. Rig-rite wanted $95 a pair, I found a rigger in Annapolis only wanted $65, when they arrived they had been shipped direct from rigrite but at the lower price.
Earlier I'd heard the owner of a boat 1 hull number different from mine had replaced rigging then sold the boat due to "business reversals". Couldn't figure why he replaced then sold, rigger told me "He couldn't get the price he was asking with old rigging".
C320's sell really fast and easy here, just had a friend sell her "06 in a week.
Sadly I've seen reference to 10 years in fresh and 7 years in salt.