So the current
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
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
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.