Advice On 58' Kurt Hughes Project Cat

[Sand crab]

I saw this on the web. It's a Kurt Hughes designed 58' started in 1990 and sitting around for years. It was designed for use with 2- 300 HP perkiins which I file in the what were they thinking department.

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http://www.yachtworld.com/core/listi...g_id=1704&url=
Obviously needs lots of work. They claim that it will cost $300 to $400K to finish. I'm a builder and accomplished high end woodworker so I could cover that part. I'm concerned about water damage issues anong other things. I'm not an expert on hull shape either. Right now I'm just kicking tires and I havn't seen it yet in person. Just wondering what the members think. BOB


I'm not crazy but the judge thinks I am.

[Abaco]

Most likely, not matter what it costs to finish, it will be worth less than that amount when your are done. Provided all the wood was saturated with epoxy and glassed over, it should have retained it's structural integrity. The seller says $300 to $400k to finish, which could end up at $500 or $600K. Add the purchase price and your yard bill for the 3 years it will take you to finish it. For comps, search yachtworld or Lagoon 57's from the mid 90's. There several in South Florida right now with an asking price around $500k. If you assume a purchase price of $450K, you would be a lot better off going that way. The risk associated with this boat is unlimited. You don't know what you have now, and you don't know what you will have when you are finished. You would have to love the project more than the boat to get involved with this one.

My last boat was in similar condition when I bought it and worked with the seller to finish it. Looking back, I never should have done it.

[delmarrey]

If you don't have extensive experience working on boats, walk away. There will be a lot of hidden projects you will find once you get involved, especially since it's been sitting so long. Boat designs/materials have change dramatically in the past 20 years.

[Sand crab]

It's what i was thinking. Just wanted the experts opinion. I know it's a totally different beast but I'm seriously thinking about an Outremer 55 Light. Touch more money than I wanted to do but if I bit I could chew. Just leaves less reserves for cruising.

[Cormorant]

I notice the ad says "if completed by the builder" it would take another $300,000 to $400,000 to finish. That gets me wondering. . . .

Now, I am a thoroughly impractical dreamer, as evidenced by the fact that I built our boat(s) instead of just buying something. I always imagine how to fix up old houses when I pass them, and it's the same with project boats.

So here's my line of thinking: first you determine that the hull is structurally sound -- no rot anywhere, all properly laid up, no UV damage to epoxy, etc.

If it would cost $300,000 to $400,000 for the builder to finish it, how much would it cost YOU to finish it, perhaps only to barebones cruising standards? And how much time? And how much time do you have on your hands? Given yard rates, I imagine that $300,000 in builder dollars is under $50,000 in materials and the rest in very expensive man-hours.

The ad is asking $100,000 for the boat, but realistically, who will pay that? So you offer $40,000, give or take . . . and sink $50,000 to 100,000 into getting it ready to sail.

Maybe you can have a bigass cruising cat for under $200,000. . . . Maybe.

Anyway, like I said, I'm a bit of a dreamer, and not to be trusted in such matters.

[Sand crab]

We all have dreams and there is nothing wrong with that. However, I think the $100,00 is just a bit low. I figure the mast sails and rigging will be about 50 to 60 grand. A pair of diesels plumbing, props, etc at about another 50 Gs or more. And I still don't have squat. I've built a lot of cabinets, furniture etc and I know how to veneer and have my vacuum bag so that part I could do. But like the other posters said it is a bit of a bottomless pit and kinda scary. I don't even know how much the boat weighs now or what my displacement will be upon completion. Even if I got the hulk for free I still wonder if it would be worth it. Nonetheless lets keep on dreaming. All you guys get a ride on whatever I get and I'm buying the rum. CHEERS

[Mark Johnson]

If it has been uncovered, out in the open, all this time, I would have to pass. Too much water, and especially UV damage, to warrant the time and money necessary to finish it. (It should've been kept indoors, as should ALL boat projects).

For that amount of money & effort, you should end up with a "new boat", not a well covered up abortion. UVs are the bane of epoxy boats!

Just my opinion from a tired boatbuilder's point of view...

M.

[pwratch]

This project just-so-happens to be in a small yard just up the road from where I am moored and, IF YOU ARE SERIOUS ABOUT THE PROJECT, and if I can swing it, I will stop in Gil's, crawl around the thing, and post here. I say "if I can swing it" because I am committed to leaving here 13 March and thus currently up to the eyes in packing and shipping the detritus of my life to other parts of the country. Still, it's in the neighborhood and I'm curious myself. For what it's worth, Gil's Catamarans is a truly tiny builder's yard that is located in an area that, as I understand it, it slated for "urban renewal" or some such idea. As a result, the property itself has been posted for sale. My completely uninformed guess is that someone, sooner-or-later, is going to HAVE TO get rid of the thing. I think 100K is a horse trader's opening play.

If I can visit the project, you'll see the results here w/in the next two weeks. If not, not.

[barnakiel]

Does not look like something worth spending time and money into, does it.

It this particular design is of interest probably cheaper and faster to build from scratch than fix mend and swear.

b.

[Sand crab]

I appreciate all the posts but I've mostly decided to pass. By mostly I mean I'm 99% sure. If it was kept inside for the last 20 years then it could have been another story. It was just an interesting project. Pwratch, if you want to visit it just for your own curiosity I'm sure the forum would still like your input. Just too many hurdles for me even if it was sound. Getting a marine surveyer and/or architect involved to do a detailed structural analysis, moving to the area, renting a warehouse/shop, moving the boat there, lots of work etc, etc, etc. I'd probably have to spend $10,000 just to see if the boat was even worth anything at all. Like I said before I'm not sure it would be worth it even if it was free. Anyway, thanks guys.