Delusion in the older Multi-Hull Market

[keyway]

Yep so many people think what they have is so valuable but when they make an offer on somebody else’s stuff they think it’s worth next to nothing. At least that’s the way it seams to me. I would much rather see boats rotting in Greencove that abandoned in the ICW. As for my old Wharram sitting in my side yard it’s right where I want it so as soon as I finish renovating the old house and I have time for her she is going back in the water and I m going sailing.

[BenBowSirocco]

I will agree with you 100%. Many people seem to think their junk is gold for some reason.
Had an experience with a solid boat- good bones, 30+ years since it’s last refit though- made a solid offer (to me) owner agreed on the price, couple months later on the agreed upon date the guy backed out. “I think I want to sail her again” was his cry. Three years later the boat has never moved, barely been touched. The man is 76... what happens to this good old gal when he dies??

Also as someone selling a great old boat that was fully refit in 2019- literally everything done- the amount of strange people and B.S. involved in selling a boat is very difficult to deal with.

[Sailing August]

Its a 1994 FP 42'

[Sailing August]

Originally Posted by SVPP

I think you would have known all that before visiting the boat. Did you ask them what they wanted for the boat before visiting? Did you check the market before going to see the boat? All you did was waste everyone’s time and yours. The market is hot right now and the owner can ask whatever they want for it. By inspecting the boat, all you are doing is reinforcing the fact to the owner that the boat might be worth something.

Wow.....you seam angry. How are those Australian lockdowns working for you.

[Sailing August]

Originally Posted by onestepcsy37

brokers are guilty too. we once drove 90 miles to see a boat that the broker advertised as 'cruse ready'. the interior of the boat was pretty much torn apart. owner obviously rebuilding, rewiring, and replumbing. i would have pushed the broker overboard and into the canal but he had driven us the last ten miles from his office to the boat and i had no idea how to get back...

We have had the same experience. We have driven as far a South Florida from Jacksonville to see a piece of junk that the broker said was cruise ready. We checked out a Pop Yachts - CSY 44' Walk-Thru at Green Cove Springs that was listed as ready to go and priced as such. We only spent about 3 minutes on board. In 3 minutes I could see $75k USD worth of re-fit work. Total piece of junk. That was a year ago; Its still for sale with the price slightly reduced. Its not going anywhere.

[cr180]

Hey Sailing August. We may be a lone voice in the night. But your Morgan is a great cruising boat. We have seen the Cats in rough seas and would not want to be aboard. For what it is worth!

[smj]

Originally Posted by cr180

Hey Sailing August. We may be a lone voice in the night. But your Morgan is a great cruising boat. We have seen the Cats in rough seas and would not want to be aboard. For what it is worth!

But have you ever sailed on a cat? I can look at pictures of your boat and imagine the motion in anything aft of the beam would be dismal. But since I haven’t sailed on it I won’t comment.

[Factor]

I am continually amazed by threads like this. There is no law that says sellers have to be realistic or sensible anymore than there is a law that buyers should be sensible. Here is a thought. Don’t like it don’t buy it.

[hpeer]

Green Cove Springs is an interesting place. 3 yards IIRC. The one furthest up run ver is the low coat hail/storage yard. We hauled there one season and did some work in the boat.

IMHO it is not just a place for boats to go die but also some owners. At least one fellow had terminal cancer and others were in obviously bad shape. Lots of drinking.

There is, or was, a regular gaggle of owners who gathered on the office porch every day and fixed all the worlds problems, and none of their own. The boat next to us was not a bad boat but was largely taken apart by the owner. Any number of projects started, wires hanging out everywhere, hull half sanded, shaft out, etc. He lived in a camper behind the boat. Nice enough guy. He was working diligently on some project and I asked him what it was. He was building a fish cleaning table for his bimini. I asked him where he fished. He said he didn’t fish. I left it right there. Kinda summed things up.

[sea dragon]

What incentive is there to sell if someone wants you to practically give a boat to them.?
I think the delusion goes both ways.
Someone offers to "buy" my boat at least once a year.
The answer is always no.
Who cares if you want to buy it for a scrap price.
Piss off.

[Sailing August]

CR180,Thanks. The Morgan has been very good to us over the years. We have taken good care of her. We are getting older now and want a little more comfort so we are starting to think about a catamaran for retirement. We have a budget but its not a question of cost....the deal has to make financial sense. There is also no logic or formula that can be applied to the market so you have to literally look at every vessel within your budget. You never know what you are going to find. Unforunaly we have looked at a lot of junk that the owners think is gold.

[Sailing August]

We have an older Morgan Out Island. They are very affordable and shallow draft which is perfect for the Bahamas. They are very beamy with a lot of room for a 42' vessel. They do not sail all that well but you trade performance for comfort. It is what it is. We are getting older and would like to move to a catamaran for more room and comfort when we retire. We of course have a budget but it is not a question of cost. The deal has to make financial sense. The vessel has to be either nearly ready to go or the refit cost cannot exceed the value of the vessel. Unforunaly emotion plays a big part of boat ownership. We have driven many miles to go see high priced junk. The brokers are as bad as the owners. However, you never know what you are going to find so you have to look at every deal and decide if it is worth it.

[Sailing August]

Thank you for your perspective and you are exactly right. There is however a lot of emotion wound up in boat ownership....so you have to look at every deal because you never know what you are going to find. In the end; the deal has to make financial sense.

[valhalla360]

Originally Posted by MicHughV

No idea what GCS marina plans to do with them. I guess they probably own them by default to cover storage fees.

Probably cost them more to file for ownership than they could sell it for...so they sit so long as there is room...and it costs to have someone break them down and send them to a landfill.

This has nothing to do with multihulls. There are plenty of monohulls in similar situations. Power, sail...doesn't matter.

Some of it is people not accepting that they have already taken a loss but also for many it's the dream that they don't want to give up and selling cheap admits the dream is over.

Don't try to think logically about it. You might be able to play the psychological angle if it's a boat you really like but listing the faults and doing a market analysis usually will just upset the owner.

[Sailing August]

The vessel was for sale. The point is that the deal must make financial sense.