Buying a mono in Australia and not going mad. Possible?

[44'cruisingcat]

I'd have thought being mad would be a prerequisite for buying a mono.

[Fore and Aft]

44’ cruising cat if we were all as rich as you we would all own cats! I cannot even afford one 44’ hull, let alone two!
The 33’ Hunter looks a good buy and should be easy to resell if you find that you do not like boating. It would be interesting to see if the 37’ Hunter has osmosis? I surveyed a 1992 Hunter this year that had bad osmosis.
Cheers

[Johnno]

Don't forget both the Jarken 10.5 and the Martzcraft 35. Both are great boats and those on the market below $100k and are usually well fitted out with up to date goodies. We had our Martzcraft for 21 years and although our Cheoy Lee 43 is a far larger boat, at times I still wish I had the Martzcraft!

[nortonscove]

Originally Posted by 44'cruisingcat

I'd have thought being mad would be a prerequisite for buying a mono.

Or being modest of means.

[GILow]

Originally Posted by NotEntirelySure

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.

For boats of my era (1980 layup, first splashed in 1982), it seems to depend most on WHO built them. So at just about 40 years of age I don't have any osmosis in the hull, where other boats of the same age have gone to the shredder by now.

(But, of course, the rest of my boat is 40 years old and the rest of my boat has needed a LOT of work.)

By contrast I've seen a 9 year old "big brand" mono on the slips here where there were literally sheets of fibreglass peeling off from osmosis.

My point being, assuming you've got a handle on the build-reputation of the boat, your resale value is most likely going to be defined by the overall condition you've managed to maintain, rather than the hull, and THAT is the big $$$ question.

[NotEntirelySure]

Well I just read through the Marine Survey 101 article - Marine Survey 101, pre-survey inspection

Sheesh!

Great article for opening ones eyes to the potential of disaster.

I guess what I have gleaned is looking for high levels of maintenance and high quality care by the previous owner overides almost anything else when it comes to buying a used boat.

I appreciate the effort made to write that article. It seems very detailed.

[bobnlesley]

Originally Posted by Tillsbury

...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?

Our take on boats too: We bought a 27' mono in the UK for £10,000 and after eleven years, seven living aboard, we were in Greece when we decided it needed to go (we'd bought another) and closed the list of potential buyers at six - three and three reserves - after <24 hours of private advertising. Number one on the list bought it two days later; why? We were selling it for only £4500 and it was probably worth £6-7000.
The one we got then had had thousands thrown at it in the previous three years, but we got it for £26k - say £30k when fitted to 'sail the world' and we've been doing just that for the last seven years, so if and when we decide we've had enough, we can again afford to offer it at below rock-bottom price, do a quick deal and walk away.

If you're selling you might as well get what's 'easily achievable' and sell it fast, let a boat sit in a marina for a year or more and on top of all the mooring & insurance costs you've incurred the boat'll have deteriorated quicker than if it were being sailed every other weekend. We've met no end of people who've turned down what they deemed a poor offer early on and eventually sold for less two or three years later. I know of one boat that we were offered in Greece in 2012 that's still for sale today, the asking price has been dropped by almost half, but I suspect that an inspection might well reveal it to be more overpriced now than it was then; batteries/electronics/engines and the rest aren't keen on standing idle for seven years and even if the current asking price were bby some miracle met, I doubt that it'd even cover the intervening storage and insurance costs.

[Fore and Aft]

I surveyed that Baltic 40 on Tuesday, she had some cosmetic issues but nothing serious. My client purchased her and is very happy.
BobnLesley that’s so common people regretting not taking the first offer and instead waiting for a higher price. I surveyed one yacht last week where there was a lot of issues and the owner should have made a deal with the potential buyer. But instead the boat went back in the water and the owner is now waiting for another buyer and hopefully a different surveyor who will not find all the issues.
Cheers

[goodwinds]

Old saying, you only make money when you buy a boat, not when you sell it.
$100k gets a lot of boat in Oz, depends what your after. If you need the twin helm, sugar scoop, spacey light interior of a modern production boat and microwave and shower space for two, then you don’t get much. If you get a older late 80’s, early 90’s, over built with a caring owner that’s pumped $$ into her then it’s not a bad option either.
I brought cheapish... could of been less... but time is money, and had the budget to update, add on, renew what I wanted. Sure not a floating condo, but now I have a good looking boat, that could go most places safely with all new kit onboard from rigging, electrics, safety, presentation and so on.... but still not a spacey production boat, but that was my choice. If and when I sell to go bigger... or wider with 2hulls, I’ll probably loose money, but the new owner while paying more than I did gets a updated, refreshed solid boat that doesn’t need much.
Everyone has a different ratio of purchase price vs finished price... I set mine at 50/50... on a well presented yacht needing only a deck paint and rigging. I found plenty more to ‘customise ‘ and drain the bank account ...however now she’s about to float again next week, painted decks, upgrades and adding electrics, covers, safety gear, tender, standing and running rigging, polish and paint and a very extensive list of things no one would notice on a walk through ... all for around A$50k... maybe a bit more... i saved a bit because I’m handy, but major jobs paid a premium for at shipwrights ... she’s now got another 10 years in her before anything major needs doing, maybe new sails if I want that 0.5-1kn faster.
While not new, I’d probably feel safety in her than any Cata, Bene, Jean, and never a Bav/Hunt. Buying a boat is a compromise... can never have it all.... not for $100k

If your new to ownership, my advice is to start on the lower end and work yourself up, or buy the best and sell it to me cheaply after you’ve done the work and the addiction wears off... remember there is no boat in the world without a compromise and a ‘To Do List’, just how long you want that list to be and how May compromises.
Remember, every few feet of length, prices for anything seem to double... between 30-35 and 35-40 everything on board went up a few sizes and doubled in cost, buy what you need, not what you want unless $$ isn’t a concern ...
btw, a well cared for, recently updated 35foot, late 80’s coming onto the market soon with nothing to spend!!! Haha...decided I need a bigger head and shower for my fat ass and head... and a microwave!!

[charliepsycho]

Be patient, the right boat comes along eventually.

Look at as many as you can, you views will crystalise into what you need and you will learn what is right.

Sail them before you survey them and *always* survey before you decide.

Oh and expect to spend as much as you paid on 'upgrades' !

[Davo1404]

Originally Posted by ghendoaus

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

Nice yacht. SOLD

[JPA Cate]

Hello, Andrew,

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.

It is going to take you a while to study the market. And, if you really know what you want, finding a match can take a lot of time. We went to look at a great number of unsuitable boats before we found this one. The process took us roughly 3 years, and a couple of long drives to the Sydney area. We wrote down exactly what we did want and did not want. Brokers responses ranged from "Get out of my office, this doesn't exist" (we did not want a sail drive, but a shaft driven prop) to "I wish everyone had as clear an idea of what they want." People are slipshod, sometimes, not much you can do about it.

Decide what you think you want, and give it a go, it will probably not be your only boat, but if you choose well, she may give you a few years of fun. Start with the smallest that may be acceptable, easier to find berths.



Ann

[Davo1404]

Originally Posted by JPA Cate

Hello, Andrew,



It is going to take you a while to study the market. And, if you really know what you want, finding a match can take a lot of time. We went to look at a great number of unsuitable boats before we found this one. The process took us roughly 3 years, and a couple of long drives to the Sydney area. We wrote down exactly what we did want and did not want. Brokers responses ranged from "Get out of my office, this doesn't exist" (we did not want a sail drive, but a shaft driven prop) to "I wish everyone had as clear an idea of what they want." People are slipshod, sometimes, not much you can do about it.

Decide what you think you want, and give it a go, it will probably not be your only boat, but if you choose well, she may give you a few years of fun. Start with the smallest that may be acceptable, easier to find berths.



Ann

Hi Andrew
This is excellent advice. Be wary of some brokers. They will come across as knowing exactly what you are looking for & will try to fit you into a yacht that isn't suitable. Also the perfect yacht isn't out there, always some compromises. Finally some marina dwellers who profess to be very knowledgeable, have never left the marina apart from the occasional day sail.
Good luck with your search.

[Hyde Far East]

Brokers as a generalisation over value - they earn on commission so makes sense - the Broker under most industry guidelines can not decline a written offer and is obligated to present a written offer to the seller - the seller can decline or counter offer - if you find a boat you like make a written offer subject to survey - the final price can be renegotiated to reflect issues found by the survey .....

[Tillsbury]

The other side of “there’s no such thing as the perfect boat” is that there are a good number of boats out there that are going to give you a good time. I was putting offers on two or three boats (of course, making sure that no more than one was valid at any one time). The vendor who wanted to sell got the deal. Since they were with two different brokers, the brokers were seriously incentivised to make it happen too — once they realised that I was fine with either boat and since both needed a little work it mattered little to me which one I ended up with.