Failed survey but still interested...

[LLCoolDave]

Ok, I feel like I need to clear the air (or muddle) it.

It seems there is a segment of C.F. that thinks that every 30 odd footer can be had for $10,000. I've read many of their posts. They bought a Catalina 27 or a Hunter 28 and they day sailed it with maybe some weekend trips. Sold it for more money than they bought. Many of them are boatless now.

Those boats aren't in the same class of this boat. I looked at over 400 boats on the internet and I couldn't find a better boat than this one for the price. That's why I'm here.

I agree with most posters that say "suck it up, this is boat ownership." I'm wrapping my head around it.

Regarding the broker, Chris Stanley has been excellent to work with. The seller has been harder to work with. Chris has tested electronics for me before I came down. I knew the radar didn't work, that the chart plotter was questionable. He's offered to pay out of commission to have things fixed to get the deal done if they didn't work by the time i got here. The ad is a year old and he isn't responsible for the owner not maintaining the boat. I feel like I wasn't clear about that.

[El Pinguino]

Originally Posted by LLCoolDave

Ok, I feel like I need to clear the air (or muddle) it.
.........
Regarding the broker, Chris Stanley has been excellent to work with. The seller has been harder to work with. ...........

Reminds me of buying my boat..... I travelled rather a long way ( Oz to Thailand ) to look at the boat.... went home... made an offer through the Australian broker... about 80% of the ask.

Owners went to ground for about a month.

Told broker that was my first and last offer as that was all the money I had.

Bought it for my offer price...

Met up with the broker some months later...

He said that after the owners had started talking to him again he told them that 'this is not just your first serious offer, it is your first offer. Not only is it your first offer its the first enquiry in the 8 months its been listed so - unless you want to sit for another 8 months or more.......'

I reckon you make a fair offer.... not a silly offer... a fair offer based on it being in a remote location.

Most if not all of what you have listed looks like stuff you would have to deal with somewhere down the track anyway..... on any boat.

[LLCoolDave]

Originally Posted by El Pinguino

Reminds me of buying my boat..... I travelled rather a long way ( Oz to Thailand ) to look at the boat.... went home... made an offer through the Australian broker... about 80% of the ask.

Owners went to ground for about a month.

Told broker that was my first and last offer as that was all the money I had.

Bought it for my offer price...

Met up with the broker some months later...

He said that after the owners had started talking to him again he told them that 'this is not just your first serious offer, it is your first offer. Not only is it your first offer its the first enquiry in the 8 months its been listed so - unless you want to sit for another 8 months or more.......'

I reckon you make a fair offer.... not a silly offer... a fair offer based on it being in a remote location.

Most if not all of what you have listed looks like stuff you would have to deal with somewhere down the track anyway..... on any boat.

Thank you

[El Pinguino]

If it was me... which it is not....

The boat isn't quite 'as described' so...

I would offer ask less 20%....

and then deduct the cost of the items needed to make her 'sail away'.... rigging and maybe sails and string.... say another $6K...

So... explaining why it was so I would offer a bit over 20K... at least then they may talk to you and you can negotiate...

Make a silly offer and they may just tell you to go away but not as politely.....

[Snore]

Originally Posted by LLCoolDave

Ok, I feel like I need to clear the air (or muddle) it.

It seems there is a segment of C.F. that thinks that every 30 odd footer can be had for $10,000. I've read many of their posts. They bought a Catalina 27 or a Hunter 28 and they day sailed it with maybe some weekend trips. Sold it for more money than they bought. Many of them are boatless now.

Those boats aren't in the same class of this boat. I looked at over 400 boats on the internet and I couldn't find a better boat than this one for the price. That's why I'm here.

I agree with most posters that say "suck it up, this is boat ownership." I'm wrapping my head around it.

Regarding the broker, Chris Stanley has been excellent to work with. The seller has been harder to work with. Chris has tested electronics for me before I came down. I knew the radar didn't work, that the chart plotter was questionable. He's offered to pay out of commission to have things fixed to get the deal done if they didn't work by the time i got here. The ad is a year old and he isn't responsible for the owner not maintaining the boat. I feel like I wasn't clear about that.

Yes that changes things — especially if he disclosed the obvious defect of the radar.

Now it comes down to you analyzing the market for Pearson 365’s and determining what YOU feel the boat is worth.

A quick look showed a range from $23-$45,000. How does this boat compare to the $23k freshwater boat in MI or the $27k boat in Florida? That is a question worth answering. Especially since it is usually easier to fix a boat in the US than abroad.

In the end, you have to be comfortable with the price.

[Bleemus]

Originally Posted by skipmac

Exactly. The big sump, hollow or whatever it is that leaves the upper/aft third of the lead keel hollow.


Skip

Thanks Skip. Had a feeling it was the big hollow section, which I am aware of, and will be sure to investigate for damage when I get on the boat.

[MartinR]

I agree with most of the above. This looks like a nice boat, and of course, unless the seller is in a hurry, he will not accept 10k. But a reasonable deduction from the asking price will probably work.

The purchase price is actually not a cost in yacht ownership, depreciation is. If you buy the boat today for 30k and sell her 10 years later for 20k, then the cost is about 1k/year. That is the same with the repairs. If you replace the rigging for 2k with a life span of 10 years, then the cost will be 200/year. And some of the repairs may also add to the value of the boat, so the actual cost incurred is hard to calculate.

Buying a boat is a very subjective undertaking It comes down to gut feeling in the end.

[skipmac]

Originally Posted by Bleemus

Thanks Skip. Had a feeling it was the big hollow section, which I am aware of, and will be sure to investigate for damage when I get on the boat.

Sorry for the thread drift but there's a few other things you need to check on 42 Pearsons. I'll send you a PM.

[skipmac]

Originally Posted by LLCoolDave

Ok, I feel like I need to clear the air (or muddle) it.

It seems there is a segment of C.F. that thinks that every 30 odd footer can be had for $10,000. I've read many of their posts. They bought a Catalina 27 or a Hunter 28 and they day sailed it with maybe some weekend trips. Sold it for more money than they bought. Many of them are boatless now.

Those boats aren't in the same class of this boat. I looked at over 400 boats on the internet and I couldn't find a better boat than this one for the price. That's why I'm here.

I agree with most posters that say "suck it up, this is boat ownership." I'm wrapping my head around it.

Regarding the broker, Chris Stanley has been excellent to work with. The seller has been harder to work with. Chris has tested electronics for me before I came down. I knew the radar didn't work, that the chart plotter was questionable. He's offered to pay out of commission to have things fixed to get the deal done if they didn't work by the time i got here. The ad is a year old and he isn't responsible for the owner not maintaining the boat. I feel like I wasn't clear about that.

Hi Dave,

From my 40 years boating, owning a Pearson for 9 years, buying and selling 6-7 personal boats, and a few years as a yacht broker selling a few dozen, Pinguino is one of the few voices of reason on the thread.

Unless it has major structural issues, dead engine (but that tested OK), broken mast, the interior in need of complete gutting and rebuild this is NOT a $10,000 boat. It's easy for an internet expert to throw that out but that is not realistic. Sure you might run into a desperate seller or someone that just won the lottery and just wants to dump the boat but those deals are very rare. In several years as a broker I did one gimme deal like that and saw two.

Of course you have to decide if you have the time, skills, money and motivation to bring this boat into cruising condition. A big part of the decision is to what level of finish you want the boat. I've seen people happy with boats that were cosmetically very rough but mechanically solid very happily cruising and I've seen people that wanted their 30 year old boat to look like new.

If I were in your shoes I would look at the following

1. the boat has no major structural issues:

hull, deck and the joint;
bulkheads especially where they tab to the hull/deck;
water intrusion into the deck core (there will be some) and the extent and any serious rot or delamination;
mast (rig can be done)

2. the condition of the major bits:
sails
standing rig
all the other stuff: running rig, anchor and rode, electronics, pumps, electric

3. Cosmetics. This will depend on your personal preferences.

If this boat fits your requirements then do the math for what needs to be done and what you want to do and make the decision. I wouldn't get too hung up on the electronics. Radar is cool but not critical in the tropics. I would focus on a good plotter which can be had for well under $1000. If any long passages or solo a good autopilot which could be a few thousand.

[sailpower]

For those doing market comparisons on YW, it is more accurate to keep the apples and the oranges separate.

The boat surveyed is NOT a Pearson 365 no matter what the listing states. It is the cutter version often referred to as the 367.

The cutter differs from the 365 ketch/sloop in that it has a 1 foot deeper keel and a real traveler. It is also a true cutter not a sloop/ketch. A very few cutters had the quarter berth option. The 367 also came out later in the model run.

The 365’s starting in 1976 had wood grain Formica joinery. Around mid 1980 this was changed to real wood as are the cutters. It makes a huge difference and that is why the older ones often trade for less.

I wouldn’t be comparing raw dollars on a 1976 ketch vs a 1981 cutter.

365
http://web.archive.org/web/20080917023841/http://www.pearsoninfo.net:80/365/365.htm

367
http://web.archive.org/web/20080917152543/http://www.pearsoninfo.net:80/36cutter/36cutter.htm

As has been states, the Pearson 365/367 Yacht Club is an excellent resource for these boats. It was started by our very own SV Third Day when he and his family first started cruising on their Pearson 365.

Pearson 365/367 Yacht Club - Index

[skipmac]

Originally Posted by sailpower

For those doing market comparisons on YW, it is more accurate to keep the apples and the oranges separate.

The boat surveyed is NOT a Pearson 365 no matter what the listing states. It is the cutter version often referred to as the 367.

The cutter differs from the 365 ketch/sloop in that it has a 1 foot deeper keel and a real traveler. It is also a true cutter not a sloop/ketch. A very few cutters had the quarter berth option. The 367 also came out later in the model run.

The 365’s starting in 1976 had wood grain Formica joinery. Around mid 1980 this was changed to real wood as are the cutters. It makes a huge difference and that is why the older ones often trade for less.

I wouldn’t be comparing raw dollars on a 1976 ketch vs a 1981 cutter.

365
http://web.archive.org/web/20080917023841/http://www.pearsoninfo.net:80/365/365.htm

367
http://web.archive.org/web/20080917152543/http://www.pearsoninfo.net:80/36cutter/36cutter.htm

As has been states, the Pearson 365/367 Yacht Club is an excellent resource for these boats. It was started by our very own SV Third Day when he and his family first started cruising on their Pearson 365.

Pearson 365/367 Yacht Club - Index

Very good information. I know about the 42' range but no details on the 36s so this is all new to me. Being a big fan of cutters and not a fan of ketch rigs in smaller boats this would be a huge plus for me.

[LLCoolDave]

Originally Posted by sailpower

For those doing market comparisons on YW, it is more accurate to keep the apples and the oranges separate.

The boat surveyed is NOT a Pearson 365 no matter what the listing states. It is the cutter version often referred to as the 367.

The cutter differs from the 365 ketch/sloop in that it has a 1 foot deeper keel and a real traveler. It is also a true cutter not a sloop/ketch. A very few cutters had the quarter berth option. The 367 also came out later in the model run.

The 365’s starting in 1976 had wood grain Formica joinery. Around mid 1980 this was changed to real wood as are the cutters. It makes a huge difference and that is why the older ones often trade for less.

I wouldn’t be comparing raw dollars on a 1976 ketch vs a 1981 cutter.

365
http://web.archive.org/web/20080917023841/http://www.pearsoninfo.net:80/365/365.htm

367
http://web.archive.org/web/20080917152543/http://www.pearsoninfo.net:80/36cutter/36cutter.htm

As has been states, the Pearson 365/367 Yacht Club is an excellent resource for these boats. It was started by our very own SV Third Day when he and his family first started cruising on their Pearson 365.

Pearson 365/367 Yacht Club - Index

In the early stages of this process I wondered if it wasn't a 367. The broker couldn't find any documentation. I noticed during haulout that the bottom of the keel was flat and not sloped so I think you are right.

I've tried to get on the pearson365 site and it has said that registration is currently disabled. I can still view posts though.

[LLCoolDave]

So I've heard back from the seller. I was under contract for $27k and he's reduced it to $24k. At this price I'm pretty happy. Nearly 1/3 off asking price. Looks like I'm gonna be a boat owner!

[MartinR]

Congratulations!

[hellosailor]

Dave, if you stay in Guatemala to work on the boat, will you have any visa problems if that becomes more than a 90-day wonder? And remember to add in yard expenses, and perhaps the need to freight things down and import them. I have no idea how problematic that may be for you, there, just that it must be considered. Along with any extra airfares and trips home.