For Sale: 1982 Cheoy Lee 44' total refit

[JArcherM]

Are you negotiable on price? I would need to relocate a family. Do you have a video walk through?

[rourkeh]

I am open to reasonable offers but have no interest in selling boat for much less. I already reduced the price $10,000. Make an offer and find out.
I don't have a video but could make one with the right motivation.
If you need more info or want to discuss let me know.

[JArcherM]

Thank you. Maybe you could draw a layout Diagram?

[rourkeh]

Here is a line drawing from the Cheoy Lee owners association web.
More info available there and original brochure.

site.https://www.cheoyleeassociation.com/a_modelsgraphic.htm

[malbert73]

Rourkeh- nice boat and a friendly suggestion not to come across prickly as your last couple of posts suggest. The market speaks and sets price on sailboats. I hope you find the right buyer at a reasonable price soon.

[JArcherM]

Thanks for the diagram

[rourkeh]

I finally did a breakdown on the costs for all the big ticket items added to the boat during the refit. It is the first time I ever looked at the numbers. WOW
It surprised me and I did the work. It also doesn't include all the hundreds of hours of labour I did personally..

[rourkeh]

Refit Costs

Paint entire boat $16,000
Generator $8,000
Windlass $2,200
Chain $1,300
Anchor $2,300
Davits $4,500
Installation $1,200
Radar mount $1,600
Satellite dome pole $5,000
Teleflex control / gauges / pannel / cables $2,000
Ikabro wooden wheel $2,000
Batteries $2,800
Cables and wiring $2,000
Electrical panels $3,500
Battery charger $ 800
Audio / video / electronics $2,000
Alternator $1,000
Plumbing $3,000
Satellite tv dome $4,000
Washer /dryer $1,500
Stove / oven / ice maker $1,600
Marine a/c $5,000
New port lights $3,500
Installation $1,800
Refrigeration / freezers $4,000
Toilet $1,000
Watermaker $3,000
Interior cushions $3,000
New sails $9,000
refit, remodel, construction $30,000

Total $127,600

A partial list of all the big ticket items, but definitely not everything.
Does not include the hundreds of hours of labour done by myself.

[rourkeh]

PRICE DROP TO $89,900

FLIGHTS NOW AVAILABLE FROM U.S.A TO ST MAARTEN TO VIEW THE BOAT

[rourkeh]

I have gotten a couple of people interest in the boat with low ball offers. I was wondering what the folks here on this site think would be a reasonable price for
my boat. Not what you can afford, or how much you can pay based on your bank balance but what you feel the boat is worth compared to similarly equipped vessels.
Keep in mind the original cost of the boat plus over $130,000 in refit cost.

Let me hear your opinions.

[shadow]

It's a hard one as I've sold several of my own personal yachts in my day and you really have to leave your personal attachments and feelings about it. Unfortunately, the price is whatever the "market" dictates. The market, as you know, are the people making the offers. Let's say you are selling her for 100K, but everyone is offering 60K or at least the average is 60K. Then the market views the value at 60K.

You can either sell it as you will be accruing fees like insurance, dock, etc.. fees and will be loosing money regardless. or just hold tight as you might get someone that will be much closer to your asking.

I know I'm stating the obvious as you already know this, but I know it is hard to depart with a loved one with all the work you put into her, etc.. I've gone through it and yah, it sucks and it is annoying. Only you can decide as no one knows of your current situation. Good luck though and wish you the best.

Cheers

[rourkeh]

I agree with what you are saying about buyers dictating current value. But having sold so many boats for a living I know that if you have a boat that is different or special in any way you have to find the right buyer for those differences. My boat for instance is an unusual brand most people know nothing about, but Cheoy Lee is a 150 year old yard that builds semi custom to very high standards even back in 1982. Also the boat is pedigree having been designed by Robert Perry who is a well respected designer. Most people who are not familiar with these two facts will be more comfortable buying a brand like Beneteau because they see a lot of those around and equate volume and familiarity with quality.
When it comes to the work I have performed everyone will want most or all of the features especially given they are new equipment and systems. The question becomes finding the buyer who recognizes this AND is willing to pay for it.
I am getting a lot more action on Yacht World with a bigger audience and a different type of buyer than here.

[AKA-None]

(((Asking price - offer price)/ annual cost to maintain)/ inflation rate = years until break even)

So how long do you hold out to maximize your in pocket amount?

[shadow]

Exactly.. I offered on a boat years go what I thought was fair from what I saw and did my own thorough survey. The guy said no, even though he stated that he needed to sell it ASAP as he had already purchased another boat...

He was paying for a slip for it as well as his other boat.. 10 months later it finally sold for under what I offered...... Plus you have to add in the fact that he paid for slip fees and other things during that time.. Go figure..

[malbert73]

I also think selling a boat on cruisers forum is probably unlikely to yield much as it seems like there are boat owners and boat dreamers on this forum but very few of the in between: motivated buyers…

For what it’s worth in 2007 I paid 16,000 for a used and cosmetically tired but recently re-powered Luders 33, sailed it for six years, put more than I paid into it over those 6 years, not including storage and my free labor. Sold it in less than a week for 24,000. Knew that I couldn’t recoup my investment (One never can…) and wanted a quick sale so not worth holding out for an additional few 1000s.

If I was in the market your boat would be an attractive one. I do think it’s targeting a narrow market, and I think some of the pictures with the tired looking interior wood and the missing port light in the cockpit make it seem like more of a project boat than finished project.

I worked really hard to clean up and detail my boat including making beds in the bunks and laying a table setting on the table So that the cosmetics would attract buyers which they did. Then they could see below the surface and be attracted to all of the work I did. I would suggest a picture of your boat in an anchorage or sailing as the cover picture rather than sitting in the yard which makes it look less attractive.

So, what’s your boat worth? If it was in Annapolis when I was buying in 2014, a lot more than you are asking. In the Caribbean when I am happy with my current boat, a lot less. If you finished the work and delivered it to Annapolis I bet you could sell it for six figures in the spring… Boats are flying off the used market around here.