Experience of trying to buy a starter monohull

[Greg K]

Originally Posted by Demonius ... I just want a little meat on the bone so I have the chance to get on the boat ladder and trade up in a few years.
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"Boat Ladder? " No such thing. Everybody loses money on boats even the guys asking 10k for those fixer-uppers you're looking at. That's how older boats stay alive. White elephants all. Welcome to the club.


Here's a hint for you: do your research and buy one with good bones and a stellar rep for quality build. Those are the ones worth saving. Just don't expect to get your money back for the refit.

[AKA-None]

I bought my boat for about 3k and I’ve been working on it for 4years. But I sail it every year. Perfect? No but I get to sail every year.

[ArmyDaveNY]

Originally Posted by AKA-None

I bought my boat for about 3k and I’ve been working on it for 4years. But I sail it every year. Perfect? No but I get to sail every year.

As Voltaire said, perfect is the enemy of good enough!

[Demonius]

Originally Posted by AKA-None

I bought my boat for about 3k and I’ve been working on it for 4years. But I sail it every year. Perfect? No but I get to sail every year.

I'll probably look at a project boat for the second boat when we want to go up to 36'-40'. Also insurance is the issue in the UK, if the boat isn't up to a certain standard you just won't get insurance. Yeah I would happily take a less than perfect boat but the insurance company won't.

[slug]

Originally Posted by Demonius

So the current market price for a well maintained 30' mid to late 70s yacht in the UK is £10,000. Everyone understands this. However every buyer I've spoken to seems to be under the impression that their 30' barely maintained death trap also is worth £10,000. What's worse is the brokers won't tell them the reality. (To be fair the one broker I spoke to who did tell an owner the truth, got fired that same day.)

I've not encountered a single boat that anywhere meets required safety standards. Nobody is replacing rigging, guard rail wire and the recommended intervals. Most boats I've looked at don't even know when the rigging was last replaced. As for mast servicing or windlass servicing … forget it. People aren't even maintaining their gelcoat. Almost all electrical and electronics are obsolete. Yet they all still believe that I should be paying top dollar for it.

So from a new buyers perspective look at it like this.

I pay £10,000.
Then I need to re-rigg: £2000-£3000
Rewire the guard rail: £500 - £1000
Repair gel coat: £2500
Upgrade electronics: £2000

So I end up paying £20,000 for a boat that is still worth £10,000.

I don't understand why people won't understand that not maintaining your boat renders your boat value to basically ZERO for a new buyer!

What's worse is I visited almost every sailing club the entire west coast of my country. The number of sailors under the age of retirement I met I could count on one hand. There is no new market coming that is creating value for these boats.

Effectively the existing owners are ensuring that there will be almost no future to the life and sailing will once again become a preserve of the elite super rich.

Keep in contact with marinas, harbour masters and boat yards

Many old boats are behind in payments, scheduled for disposal

Estate sales are a very good place to look

[boatman61]

Originally Posted by Demonius

I'll probably look at a project boat for the second boat when we want to go up to 36'-40'. Also insurance is the issue in the UK, if the boat isn't up to a certain standard you just won't get insurance. Yeah I would happily take a less than perfect boat but the insurance company won't.

All you need is liability insurance, if losing a 10 grand boat worries you then this is not the life for you.
Third Party allows you to meet the legal minimums required by ports and marinas around the world.
I have only ever had full cover on 2 boats and both were over £50K back in the day.. all the others 3rd Party as they were under 15K.

[Demonius]

Originally Posted by boatman61

All you need is liability insurance, if losing a 10 grand boat worries you then this is not the life for you.

Sorry but that's just a daft way to think. Of course I'm going to properly insure my boat. Whether it's 1k, 10K or 1m. Inexperienced people make mistakes, you don't want your sailing life end because you've done something stupid in your ignorance.

[campbellkyle771]

Hello everyone, I was able to buy a monohull in Argentina through a lot of effort and thanks to my privilege retirement, I hope everyone can buy theirs. regards

[Jim Cate]

Originally Posted by Demonius

Sorry but that's just a daft way to think. Of course I'm going to properly insure my boat. Whether it's 1k, 10K or 1m. Inexperienced people make mistakes, you don't want your sailing life end because you've done something stupid in your ignorance.

Not daft at all. If you can not find a boat in your price range that is in good enough condition to get hull insurance, then your sailing life will never start.

What is daft is to buy a boat so expensive that loss of it will be fiscally devastating. Merely buying hull insurance does not mean that you will be repaid if you "do something stupid in your ignorance". It might, but insurers are always looking for an out, and excessive ignorance might just be what they need to deny coverage.

Jim

[Demonius]

Originally Posted by Jim Cate

Not daft at all. If you can not find a boat in your price range that is in good enough condition to get hull insurance, then your sailing life will never start.

Jim, I'm sailing in Scotland. If I can't find a boat I feel safe in, I wouldn't be going out anyway. It's not like you can swim in the sea here and your dinghy won't last long either outside of a sheltered area.

[boatman61]

Originally Posted by Demonius

Sorry but that's just a daft way to think. Of course I'm going to properly insure my boat. Whether it's 1k, 10K or 1m. Inexperienced people make mistakes, you don't want your sailing life end because you've done something stupid in your ignorance.

Maybe you should consider something like this in N Wales.. It needs very little work according to the write up, is well equiped and the bilge keels will save on maintenance costs and also for those times you get caught out by tides.
They have a good rep and sail well.. also being N Wales close enough for the owners to deliver over a weekend.
Could this be your 'Gem' ?
I have been looking at it seriously but theres an Everett 29 in Greece that looks tasty as well.. Temptation..

https://m.apolloduck.com/boat/trapper-500/619173

[Pegu Club]

Originally Posted by Demonius

There are always the poor in every generation but most people are going to be hurting in the future. The middle class is going to start disappearing.

This is true, but many, and I mean very many that are/were middle class are spending or have spent themselves out of the middle class pretending they are financially better off than they are, and not saving their very hard earned money. What was a functioning middle class in America is so in debt that they now owe the one percenters huge amounts of money. The consumer lifestyle is a total con job, cash in the bank is political power. If one want to truly retire one needs to be debt free, and not live beyond ones means. If you can’t pay cash for what you want, and go into debt to buy anything, you are beholding to the one percent... jmo.

Fair winds,

[HeinSdL]

Originally Posted by Demonius

Sorry but that's just a daft way to think. Of course I'm going to properly insure my boat. Whether it's 1k, 10K or 1m. Inexperienced people make mistakes, you don't want your sailing life end because you've done something stupid in your ignorance.

I wouldn't be too worried about the insurance. Even though you are inexperienced you still should not put yourself in a position whereby you might write off your boat. So in first instance limiting yourself to day sailing on days when the weather is OK (or having someone experienced on board for more challenging trips) will mean the risk to your boat is very low. And then you build on that. Besides, if you do lose your boat and you and your crew are able to 'walk away', I don't suspect you'll be overly rushed to buy another boat, insurance money available or not.

I read in another thread (I think it was about budgeting) that the cost of the boat was considered written off on day 1. That is not an unrealistic way to look at that expense: the money you paid for the boat you are unlikely to see ever again. Or at least don't count on ever seeing it again.

[Demonius]

Originally Posted by boatman61

Maybe you should consider something like this in N Wales.. It needs very little work according to the write up, is well equiped and the bilge keels will save on maintenance costs and also for those times you get caught out by tides.
They have a good rep and sail well.. also being N Wales close enough for the owners to deliver over a weekend.
Could this be your 'Gem' ?
I have been looking at it seriously but theres an Everett 29 in Greece that looks tasty as well.. Temptation..

https://m.apolloduck.com/boat/trapper-500/619173

I've never seen a trapper, does look pretty good though. My wife is now considering arranging a tour of England and arranging a series of viewings.

[Demonius]

Originally Posted by HeinSdL

I read in another thread (I think it was about budgeting) that the cost of the boat was considered written off on day 1. That is not an unrealistic way to look at that expense: the money you paid for the boat you are unlikely to see ever again. Or at least don't count on ever seeing it again.

Well I can assure you the sellers sure aren't seeing it that way. They want their initial cost plus what they put into it.