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Old 23-10-2016, 11:01   #1
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New to boats; help me understand this one?

I'm not going to pretend I know anything, that would be a waste of time. I would like a boat I could eventually take out to 'blue water'. I like this one, but the low price has me suspicious! They have not contacted me back yet.

1977 Formosa Ketch Sail Boat For Sale - www.yachtworld.com
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Old 23-10-2016, 14:39   #2
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Re: New to boats; help me understand this one?

Hi Pygmalion , I would be suspicious also . But what a tempting boat . For the price you could have it shipped home and have a hoot fixn' it up . Good luck !
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Old 23-10-2016, 14:53   #3
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Re: New to boats; help me understand this one?

Would you buy a 1977 car?
Why would you think a 1977 boat worthy of buying?
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Old 23-10-2016, 15:05   #4
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Re: New to boats; help me understand this one?

Quote:
Originally Posted by markwesti View Post
Hi Pygmalion , I would be suspicious also . But what a tempting boat . For the price you could have it shipped home and have a hoot fixn' it up . Good luck !
Thank you! I'm really hoping it's not a dud. I'm not even sure it will work for what I want after it's fixed, assuming it needs it. (Circumnavigation for two adults and a toddler.)
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Old 23-10-2016, 15:07   #5
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Re: New to boats; help me understand this one?

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Would you buy a 1977 car?
Why would you think a 1977 boat worthy of buying?
To answer the question, we have a 1946 Jeep, why not a boat? If it does the job then why not?
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Old 23-10-2016, 15:12   #6
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Re: New to boats; help me understand this one?

Quote:
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Would you buy a 1977 car?
Why would you think a 1977 boat worthy of buying?
I'd definitely buy a 1977, or pre 77car, and have done on many an occasion!

That said, you need to be prepared to get stuck in and need to enjoy looking after and enjoy the work thats coming your way. If your realistic about what your buying, can embrace hard graft and have a few useful skills to chuck at it then thats potentially a lot of boat for your money.
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Old 23-10-2016, 15:15   #7
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Re: New to boats; help me understand this one?

Quote:
Originally Posted by MarkJ View Post
Would you buy a 1977 car?
Why would you think a 1977 boat worthy of buying?
The car i drive is a 1964 dodge dart . My truck is a 1966 ford half ton , and my home/boat is a 1967 . They all do the jobs I ask of them .
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Old 23-10-2016, 15:16   #8
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Re: New to boats; help me understand this one?

77 can be almost new or just junk. I fly a 1946 airplane.
It's all about initial build quality and how well it's been maintained, not how old it is.
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Old 23-10-2016, 15:31   #9
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Re: New to boats; help me understand this one?

Quote:
Originally Posted by Pygmalion View Post
I'm not going to pretend I know anything, that would be a waste of time. I would like a boat I could eventually take out to 'blue water'. I like this one, but the low price has me suspicious! They have not contacted me back yet.

1977 Formosa Ketch Sail Boat For Sale - www.yachtworld.com
You're new to boats, and you want to circumnavigate. You have a lot to learn before you're in a position to do that safely, and as a result, it's almost certain that whatever boat you buy now, to learn how to sail on and learn about boats is not going to be the boat that you head off around the world in.

It's usually impossible to get a reliable sense of boat's condition from it's listing, and in this case, it's even worse. A one line description that includes "needs some work" could mean anything. Also, the price does not bode well. It's so cheap that it's either stolen or has some other mammoth flaw/shortcoming that has not been divulged.

It's also in Hawaii. Are you in Hawaii? Because if you're not, and you're new to boats, you have a sizeable and expensive problem right out of the gate.
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Old 23-10-2016, 15:32   #10
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Re: New to boats; help me understand this one?

description :

(this used to be a) Great boat built for cruising with (what used to be) a beautiful interior and very large aft stateroom. (after extensive refit and $75-$100K investment it can again be a) Perfect for a live aboard, and with a bit of work (= even if you spend $75-$100K you'll still have a lot to do before you are) making long passages.


Motivated Seller BRING AN OFFER TODAY! (= I cant give it away for $5K so please offer me anything !!)

cynical maybe .. but .... refitting cheap boats usually turns out to be more spendy than buying a better one
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Old 23-10-2016, 15:39   #11
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Re: New to boats; help me understand this one?

You're in Iowa and the boat is in Hawaii. The logistics of just checking her out never mind fixing her up for any kind of long distance sail are tricky to say the least. Worst case scenario you end up losing about $8-10K representing acquisition and disposal costs plus whatever it'll cost you to get there and back at least twice. Best case scenario you get it for well under $5K (as the ad says "bring offers") and spend "only" $50K or thereabouts making her seaworthy unless you move to Hawaii, have the time and skills to work on her and may be then you could get away with spending under $20-25K but if you add your lost income opportunities you're still back to being at least $50K into it. And then the question becomes - can you get a late 70s mid 30s footer in very good shape, i.e. no need for major refit, etc. for about $50K? The answer is a thundering YES! I would look in Great Lakes area or Maine where lots of old geezers keep their one owner boats in Bristol shape and their sailing seasons being only 3-4 months (and not full 12 months as in Hawaii) after 40 years their boats are as good as a 10 year old boat in the tropics.
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Old 23-10-2016, 15:41   #12
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Re: New to boats; help me understand this one?

"and with a bit of work" - that is the understatement of the Century.

It's what commonly known as a "project boat". Even if you have the time and necessary skills to do all the required work yourself, it will cost more that the boat is eventually worth to bring it to a condition where it is safe for "
making long passages."

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Old 23-10-2016, 15:47   #13
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Re: New to boats; help me understand this one?

At $5K asking price it looks like the marina/yard and/or the broker are just trying to make something out of it and the owner either is dead or has given her up in exchange for the storage/dockage fees.

At free or next to free cost it would make a nice liveaboard for the "free spirit" type with no money in their pocket provided such person can do the majority of work him/herself and scavenge for replacement parts at local boat junk yards. Otherwise it is a situation where pouring ANY $$ into her creates a negative equity as one can find a similar boat in a more decent shape for around $15-25K tops.
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Old 23-10-2016, 15:52   #14
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Re: New to boats; help me understand this one?

formosa/ ct 35.
good boat.
fun to sail heavy go anywhere loose nut behind wheel dumenough to go.
i have a 41, 1976.
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Old 23-10-2016, 15:53   #15
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Re: New to boats; help me understand this one?

Thanks for all the comments!

To circumnavigate is the dream, but I'm certainly not leaving tomorrow. I already know it'll take a couple years of hard work and research just to leave the dock. Thanks in particular to those who aren't criticizing my first baby steps.

Is it OK to condense and translate the general consensus to "Only consider this boat if you're broke and willing to work your butt off"?
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