Vagabond 47, Is it Worth it ?

[irinavine]

I’ve been offered a Vagabond 47 for a very good price. I friend bought it at an auction with some other boats, and he does not have the time to rebuild it, so he is offering it to me for $30.000!
I’ve read about its usual problems (chainplates etc) …. And it is an 1983 boat, which has been abandoned in a marina for over a year…. It does require some serious attention.
I am toiling with the idea of buying it, having a full refit done (I lack the experience and time), using it for a year or two, and selling it. I don’t intend to make money, just to have a free boat for a couple of years.
I know it’s hard to estimate without seeing the boat.
I am Spain and had thought of having it done in Morocco, where it’s bound to be cheaper.
Could you give me your thoughts??
Thanks
Irina


It has a Perkins Engine 85 hp diesel , model 4.236M; Generator Northern Light, model M673L (new 2004); Stainless steel wire standing rigging; Pro Furl P-4on roller furling. Dacron main, spinnaker, mizzen, roller furl 1 Genoa, and roller furl stay sail, wood spar stepped on deck; spinnaker pole, main sheet traveller; 7 regular winches and 4 self tailing winches; Auto helm 5000 and 6000 autopilot; Raytheon 1200 12 mile radar; ICOM HF-transceiver IC-735 radio; ICOM AH-2 automatic tuner; ICOM IC-M80 VHF; Helios Trope inverter; CQR and Danforth anchors plus Stern anchor; 2 Maxwell/Nilsson electric windlass VW-3000; 2 Cruisair A/C´s 16K and 9K BTU´s; Hynautic hydraulic wheel steering; Transmission overhauled Dec. 2003 including new seals; 2 Racor fuel filters for engine; 1 Racor fuel filter for generator;

[boatman61]

Tunisia might be wiser.... if any works done on her in Morroco get the Customs to check her as all clean...
Spain (or anywhere else) may just rip her apart...

[irinavine]

Yes, I'd have to let the dogs have a sniff, before it leaves the shipyard!!
;-)
Morocco is much more convenient, as you can take a one hour ferry from southern Spain.

You think its not worth it?

[boatman61]

Not saying its not worth it... just be aware of the suspicion that may be around..

[mitiempo]

Does it have teak decks? If so there us probably moisture in the core/ply under. To fix it would be very expensive. To ignore it would be a deal breaker for many looking to purchase in a few years.
Wooden mast? Another possibly very expensive problem if it exhibits any rot.

The problem is you may have to spend a lot to get the boat into reasonable shape - probably more than you will ever get for it.

I could be wrong but do your homework first.

[irinavine]

Yes, it has teak decks: which I planned on replacing with some sort of synthetic teak.
I fear the mast is wooden.
My max budget would be $70.000- for the refitting. It’s not how much I’ve calculated it would cost, but how much I can afford!
Sensible?

[boatman61]

They'll be able to knock you up a new wooden mast in Morroco... still have the old skills so using your old mast as a pattern they'll do fine.. just get the right timber and use epoxy to seal the wood before putting it together...
I'm assuming its a hollow section mast....
as for the decks... you can either go faux or just strip it and glass over and deck paint...

[mitiempo]

Get quotes and figure on the costs being 1 1/2 to 2 times as much when all is said and done.

Everything on a boat takes longer than expected - and costs more. Once the decking is removed there may be other problems that can add a lot of dollars to the job.

And the mast....

Sorry if I sound negative but better to be surprised by a smaller invoice than one double the estimate because more problems were found once the job was started.

You are probably better to buy a smaller boat in better condition.

At the very least get a professional survey if you still want to go ahead with it - then you will have a better idea of what is needed and the costs associated with each item.

Many in your position who would do the work themselves often end up spending more than the market value restoring a project boat. If you have to pay to have the work done it will be much worse.

[mitiempo]

Originally Posted by boatman61

They'll be able to knock you up a new wooden mast in Morroco... still have the old skills so using your old mast as a pattern they'll do fine.. just get the right timber and use epoxy to seal the wood before putting it together...
I'm assuming its a hollow section mast....
as for the decks... you can either go faux or just strip it and glass over and deck paint...

That sounds good IF the underlying deck structure is in good condition.

Also how are the electrical systems? That can get expensive as well.

[matauwhi]

G'day, Mate. The reality is it is going to be very tough to get your year or two "free" when you're having the work done by someone else and not you. There are several of these 47's on the market in the $145,000 USD range and they been there awhile. The boat went for a low price at auction for a reason. Head mitiempo advice to make sure you don't wind up having to auctioning it off yourself. Cheers.

[irinavine]

I think the wise thing will be to get the boat surveyed, and move from there.
I’ll keep you posted.
Thank you for all the input!