Who will Buy the Boats?

[markpierce]

After paying use/sales tax on the boat's purchase and now paying annual property tax on my boat as well as property tax on the marina slip I rent, they want more?

[oldragbaggers]

You wanted to know who will buy the old fiberglass boats that have been languishing unloved. We will, gladly, and today we did.

Today we bought our cruising boat, our dream cruising boat, for an absolute steal. And she is exactly what we are all talking about here. A 1982 Cape Dory 33, her previous owner lived aboard her while attending law school. Then he accepted a job out of state. He had her put on the hard (was nice enough to have the bottom done before he left) and moved, apparently intending to come back as he left a lot of personal items aboard. The broker says that was 6 years ago and he has never returned. He has had the yard people look at her a few times over the years, but other than that she has just been sitting.

He had listed her for a price, a very low price, but unbeknownst to him the oil pan had corroded and oil had leaked into the bilge. This was discovered by the broker a week ago when he was going through the boat. As a result of that discovery we got her for $10K less than the already low original asking price. No doubt she will need some equipment upgrades and replacements, maybe even an engine rebuild although we don't think so. We will probably find other things that need to be repaired. But we could spend what we paid for her 4 more times over and still be ahead of the game. And we could have paid full asking to an owner that was selling his boat in what he thought was "sail away" condition and still have had to do many of the same things.

Other than the engine problem, the old, outdated, original cushions, her graying wood, and dirty decks, she is an amazingly wonderful boat and the exact boat we have always wanted.

We hadn't planned to buy our cruising boat today as we are still 3 years and 11 months from retirement. We were actually in the process of refurbishing a Catalina 25 for local sailing, but when you come upon the exact right boat at an amazing price, what can you do.


Among all these old boats languishing in boatyards there are some real diamonds in the rough, and some that even aren't all that rough. And if you can pair that with a reasonable owner that isn't deluded about the worth of the boat and is willing to set a fair price, or even an owner who is willing to set a better than reasonable price just to be rid of the responsibility, there is a lot of opportunity out there to get a good cruising boat for a very good price.

This isn't the first time we've come upon a deal like this. But it will probably be the last as we are done looking. We will leave all the rest of the great deals for someone else.

[charliehows]

Like the full keel. Nice looking boat.

[Celestialsailor]

I'm not sure one way or another whether sailors are declining but Benehuntalina is building, building, building. I think if sailors are declining, it is because of gubberment regulations squeezing boaters out of the hobby. Every time I turned around I was being charged an environmental fee for one thing or another. Or when slip prices go up, was told it was to cover liability Insurance cost. I took my boat to Mexico and will not bring it back to the US unless I sell it.
I met a person that was buying derelicts out of harbors for literally a few hundred bucks. He would make sure the unit had a lead keel, salvage the lead, aluminum and stainless. Then he had a crusher, grinder and sold the ground up FG to a road paving firm where it was claimed to make superior. Even then he had a difficult time with the EPA folks.

[atoll]

Originally Posted by oldragbaggers

You wanted to know who will buy the old fiberglass boats that have been languishing unloved. We will, gladly, and today we did.

Today we bought our cruising boat, our dream cruising boat, for an absolute steal. And she is exactly what we are all talking about here. A 1982 Cape Dory 33, her previous owner lived aboard her while attending law school. Then he accepted a job out of state. He had her put on the hard (was nice enough to have the bottom done before he left) and moved, apparently intending to come back as he left a lot of personal items aboard. The broker says that was 6 years ago and he has never returned. He has had the yard people look at her a few times over the years, but other than that she has just been sitting.

He had listed her for a price, a very low price, but unbeknownst to him the oil pan had corroded and oil had leaked into the bilge. This was discovered by the broker a week ago when he was going through the boat. As a result of that discovery we got her for $10K less than the already low original asking price. No doubt she will need some equipment upgrades and replacements, maybe even an engine rebuild although we don't think so. We will probably find other things that need to be repaired. But we could spend what we paid for her 4 more times over and still be ahead of the game. And we could have paid full asking to an owner that was selling his boat in what he thought was "sail away" condition and still have had to do many of the same things.

Other than the engine problem, the old, outdated, original cushions, her graying wood, and dirty decks, she is an amazingly wonderful boat and the exact boat we have always wanted.

We hadn't planned to buy our cruising boat today as we are still 3 years and 11 months from retirement. We were actually in the process of refurbishing a Catalina 25 for local sailing, but when you come upon the exact right boat at an amazing price, what can you do.


Among all these old boats languishing in boatyards there are some real diamonds in the rough, and some that even aren't all that rough. And if you can pair that with a reasonable owner that isn't deluded about the worth of the boat and is willing to set a fair price, or even an owner who is willing to set a better than reasonable price just to be rid of the responsibility, there is a lot of opportunity out there to get a good cruising boat for a very good price.

This isn't the first time we've come upon a deal like this. But it will probably be the last as we are done looking. We will leave all the rest of the great deals for someone else.

great boat the cape dory 33,very capable and built like a brick shithouse!
good interiour layout as well.

delivered one hawaii to australia a few years back averaged 5.3 knots over the whole distance,but she would happily sit a 6.5-7 kts in the trades.

[Clip68]

I can't attest to all Marina's (obviously) but at least in my marina, it is probably 50-50. 50% of the boats are obviously used/loved and 50% completely neglected. When I say neglected, I mean impossibly filthy, and some I wonder how they stay afloat. There is a wood boat in the slip to mine where the stern and hull are separated (just above the water line). I feel saddened because those boats were once someone's dream. Those dream lay fallow as they slowly rot away.

-CLiP

[BandB]

Originally Posted by Clip68

I can't attest to all Marina's (obviously) but at least in my marina, it is probably 50-50. 50% of the boats are obviously used/loved and 50% completely neglected. When I say neglected, I mean impossibly filthy, and some I wonder how they stay afloat. There is a wood boat in the slip to mine where the stern and hull are separated (just above the water line). I feel saddened because those boats were once someone's dream. Those dream lay fallow as they slowly rot away.

-CLiP

And that really isn't new. In fact, the percentage neglected might be reduced in some places as people decide just not worth the expense and sell. But there has always been the mix of cared for and used vs. just sitting and deteriorating.

[Stu Jackson]

Originally Posted by SkiprJohn

An annual inspection is what we have in Hawaii for boats at state moorings or state slips. And, there aren't many private moorings or slips.

Now if they'd only inspect those derelict moorings and slips.

[BandB]

One real problem is the difficulty of taking action or disposing of abandoned and/or derelict boats. Not like a car where you have it towed away to a lot. I know large marinas with as many as 10 boats that haven't paid in ages and while they can sue for the amount owed and even get a judgement against the boat, putting a lien on it, their ability to actually move it is very limited and then they don't have good choices of what to do with it. Similarly many shipyards have vessels that have sat for months or years and while they have mechanics liens on them, that doesn't dispose of the problem.

[robert sailor]

Boats are like people. Some are cared for and well looked after and some are derelict.

[Celestialsailor]

Originally Posted by Stu Jackson

Now if they'd only inspect those derelict moorings and slips.

Unfortunately the moorings are the boat owners responsibility. But rest assured the Hawaiian gov. tell them what and when they can do with them. As far as the few slips they have, like the Ali Wai....They cry poverty when they become derelict.

Originally Posted by BandB

One real problem is the difficulty of taking action or disposing of abandoned and/or derelict boats. Not like a car where you have it towed away to a lot. I know large marinas with as many as 10 boats that haven't paid in ages and while they can sue for the amount owed and even get a judgement against the boat, putting a lien on it, their ability to actually move it is very limited and then they don't have good choices of what to do with it. Similarly many shipyards have vessels that have sat for months or years and while they have mechanics liens on them, that doesn't dispose of the problem.

Here lies the problem...disposal. When it's done...it's onesies, twosies and done at a boatyard at $100@hr. plus environmental fees. What they should do instead is hire the job out to an entrepreneur. I talked to a guy in Texas that did this and both parties (Gov and disposer) were happy. It would be a wake up call if the offender was put on notice that his boat was getting close to the chopping block.

[Randyonr3]

Originally Posted by Celestialsailor

Here lies the problem...disposal. When it's done...it's onesies, twosies and done at a boatyard at $100@hr. plus environmental fees. What they should do instead is hire the job out to an entrepreneur. I talked to a guy in Texas that did this and both parties (Gov and disposer) were happy..

while brousing the net a few weeks ago I ran across a gov. grant in California to dispose of unwanted boats in the delta and the bay. the shores and berms are littered with them here. Not a position for an old salt as I but for someone young, I think it would be a good oppertunity to start a business. had a lot of requirements in the grant as to has-mat certs and such but there was money avalable. could be a win-win for someone..

[ArtM]

Originally Posted by atoll

could allways ship the derelicts to cuba........

They'll just be back in Florida within a week.

Wait - you meant the boats, right?

[Cheechako]

Originally Posted by oldragbaggers

You wanted to know who will buy the old fiberglass boats that have been languishing unloved. We will, gladly, and today we did.

Today we bought our cruising boat, our dream cruising boat, for an absolute steal. And she is exactly what we are all talking about here. A 1982 Cape Dory 33, her previous owner lived aboard her while attending law school. Then he accepted a job out of state. He had her put on the hard (was nice enough to have the bottom done before he left) and moved, apparently intending to come back as he left a lot of personal items aboard. The broker says that was 6 years ago and he has never returned. He has had the yard people look at her a few times over the years, but other than that she has just been sitting.

He had listed her for a price, a very low price, but unbeknownst to him the oil pan had corroded and oil had leaked into the bilge. This was discovered by the broker a week ago when he was going through the boat. As a result of that discovery we got her for $10K less than the already low original asking price. No doubt she will need some equipment upgrades and replacements, maybe even an engine rebuild although we don't think so. We will probably find other things that need to be repaired. But we could spend what we paid for her 4 more times over and still be ahead of the game. And we could have paid full asking to an owner that was selling his boat in what he thought was "sail away" condition and still have had to do many of the same things.

Other than the engine problem, the old, outdated, original cushions, her graying wood, and dirty decks, she is an amazingly wonderful boat and the exact boat we have always wanted.

We hadn't planned to buy our cruising boat today as we are still 3 years and 11 months from retirement. We were actually in the process of refurbishing a Catalina 25 for local sailing, but when you come upon the exact right boat at an amazing price, what can you do.


Among all these old boats languishing in boatyards there are some real diamonds in the rough, and some that even aren't all that rough. And if you can pair that with a reasonable owner that isn't deluded about the worth of the boat and is willing to set a fair price, or even an owner who is willing to set a better than reasonable price just to be rid of the responsibility, there is a lot of opportunity out there to get a good cruising boat for a very good price.

This isn't the first time we've come upon a deal like this. But it will probably be the last as we are done looking. We will leave all the rest of the great deals for someone else.

Wow... great deal! Worsst case scenario is you get a new engine and don't have to worry!

[Cheechako]

I sincerely hope we don't all go to annual inspections. I'd much rather see a small fee when a boat is re titled. Then let that fee be earmarked for grinding up derelict boats.