Help Please --- First Time $1M+ Purchase

[andrewvik]

Someone has been watching too many YouTube videos.

[NPCampbell]

Originally Posted by jmschmidt

Historically 1M stands for one thousand, dollars, pounds, pesos or whatever. 1MM stands for one million. It's Latin and was in use for a thousand years until the really woke designation of "K" was dreamed up for everything a few years ago. "K" is the proper metric designator for weights and measures not money.

k and M are the proper metric prefixes for money ... since quantity is a measurement. However, different conventions apply to every industry. In my industry, structured finance, both are used. However, k/K/m/M is so common that 20+ years ago we overloaded the input boxes on our portfolio management products to accept k/K/m/M ... and not M/MM. Google "5M Euro" and see if it offers a conversion from 5,000 or 5,000,000 Euros

[Lance]

Wow what an adventurous predicament .
Many posts here tell you about some valid pitfalls of your undertaking .
I know of another dreamer who six months ago bought a large Cat in Tahiti and is still fixing the many problems that were not divulged in the survey .
I believe he will try to sell it now .
So my advice regards your dream purchase is to place watertight conditions within the contract that gives you the opportunity to get your deposit refunded if for any reason the boat does not meet the specified description to your satisfaction .
DO NOT TRUST a survey by an unknown person working within a small isolated marina environment .
I believe I have seen the actual boat online and as per another's comment she does not seem to be within the performance category of Large Cats .
My principal concern would be the low bridge deck clearance.
This can prove to be a great annoyance to the boats sailing capabilities .

Cyclones are a Real threat and I cannot imagine too much competition in the market for the next few months do you due diligence and your offering price could be tempered .
Good luck
PM me if you wish .
(15 yrs multi experience ownership, buying and building )

[passage420]

Originally Posted by PaulForster123

Hi all, your assistance would be most appreciated...
We have decided and at long last in a position to sell up and sail off full time and are considering our first Catamaran and have found the boat of our dreams a Sunreef 62 30 months old one owner and out in Tahiti. We are in the UK during lockdown and are needing help with relevant info we should be considering with the broker.
Yes novice sailors, just a formality we know, first boat ownership lol.
We would like your kind assistance in the sort of questions and information we should be asking prior to undertaking expense in surveying.
Our general considerations have been around taxes and country registration, mooring, maintenance, warranty issues, ongoing ownership costs.
The list is endless however you don't know what you don't know so any help you kind people can offer will be much appreciated.
We are planning on circumnavigating full time over the next decade and are looking to be out on the water in the next 4-6 months subject to this Covid fiasco.
Kind regards, family of 4 in cold dark Yorkshire...soon to be in warmer waters.

I think its a great idea. I have done many captain jobs and have 45 years experience on the sea and am a retired airline captain. Everyone here has given information regarding your ability to handle the boat. I don't see that as the biggest problem. If this is what you want to do then do it. I would suggest you let that boat go and take the family to the Caribbean and contact a company called TMM charters on Tortola British Virgin Islands. They have lots of big cats to charter. Try different ones and go out for a while and see how the life is on the sea. Make sure the family is all on board so to speak. I personally wouldn't plunk down a million on a boat on the other side of the world without being there. Remember, the reason those boats are always for sale over there is because someone's dreams were as yours and now they want out! Read this light book called A sail of two idiots. It is fun and you will learn a few things.
First, the purchase price is only the start of the expenses. Will you have the resources to make more if you need out on the open sea? Repairs on a boat that large is very expensive. You asked about things to consider.
How mechanical are you and can you read maintenance manuals with schematics? If not, I suggest you take a lesson on diesel engines. READ as much as you can about how to fix the common problems on your engines. The running the boat is easy. It's when the unexpected happens and trust me is not on the beautiful clear sunny day. It will happen when you least want anything to go wrong. They call it Murphys Law. This is not to scare you but its best to always have a back up plan.
A boat that large will have limited places to park in a marina so you will most likely always be on an end pier. Easy with the bow thruster and two engines. Always go in SLOW. let the wind help you and remember only go as fast as the amount of damage you want to FIX.
Few marinas will have the proper equipment to pull the boat that wide, to get the bottom painted or repaired if you have to have it pulled.
Remember when you pull in on a boat like that the marina sees $$$$. You will get ripped off at first until you learn fast.
The bigger the boat the more things on her and more things will require your skill or you will spend a lot of time in a repair marina waiting on parts to arrive again very expensive and a huge headaches.
Weather is probably your biggest challenge. Can you read weather patterns? knowing when to jump to the next destination is crucial. Reading charts and navigation are a must. Running aground can sink her fast on the reefs, tear the rudders and props off. Now you are in a land where the language is different and at their mercy.
Don't give up this dream just ease into it. If you want more help or advice please ask.
The name of my sailboat ...ANYTHING"S POSSIBLE

[eaglemac]

Sorry to hear about your problem.. My brother in law, (a retired US Navy Captain, a lawyer with little seagoing experience) had similar ideas.. a few years ago he bought a beautiful well equipped 52 ft Sailing Cat for only $250,000 US.. with the idea of cruising the Pacific starting in FL.. then through the canal etc etc etc.. He is an excellent lawyer, but had very little boating experience. Tried to learn everything by himself... found out he didn't like living on board a "small" boat.. e.g. it was too hot in port despite air conditioning on board. He spent a lot of money "improving" a very fine vessel and finally sold it a few years later. Every time he took it out of the marina there was "inclement" weather to deal with.. not at all like he had imagined.. He had no idea what being "caught in irons" meant or how to get out of it.. so he sold his dream boat for a loss of course and moved to the cool far from the ocean mountains of Colorado.. I also have friends with a nice sailing cat that has been tied up in Tahiti for the past year due to Covid.. Difficult to fly there .. difficult to move boats around French Polynesia, Australia, New Zealand and other Pacific nations that do not want cruising visitors right now.. My wife and I cruised to Hawaii, the Marquesas, and Tahiti last year just before Covid hit.. We were going to spend this winter in New Zealand and Australia.. The boat we were on went on without us.. It's been dry docked since then. This is not the time to sink a million quid, bucks, bitcoin or whatever into a sailboat.. The advice to charter and get some experience is the best.. Be patient.. Cruising plans are going to remain very difficult to accomplish till this plague has run its course..

[chubby]

not sure if i'm more amazed at all the negativity...or that i expected it.

goodness.


to OP, many folks have done exactly as you dream.

you will hire someone that knows more than you.. a captain.

ideally someone that knows your boat. (just ask the seller for recommendations)



for guidance on buying ..and easy place to start...a local buyer representative...


as far as 1st boats.. mine was 41 ft lagoon.. i hired a local captain to teach me to sail, read reefs, and how maintain my own boat...i'm still learning many years later but i'd say a week was sufficient for me to feel confident. single handing..



we quickly discoverd we'd appreciate having more room for guests aboard...
41 -45- 50 foot cats were not a problem singlehanding... my comfort level for the woman and i stopped at ~60 foot... i'd probably always (need to)anchor...and bow thrusters and power winches are requirements.



as others said.. charter that sunreef.. and pepper the captain with questions.
maybe even volunteer to go a quick delivery to get comfy


good luck!

[sailingabe41ds]

March is coming up soon...did the op buy the boat yet?

[Uncle Bob]

The OP joined in feb this year, has this one post, hasn't responded at all although they have visited since then. Do you really think the question is genuine???

[boatpoker]

Anyone have a dead horse I could beat.

[p435]

62 ft ist much too big!

Why do I say so?

A very experienced sailing friend of my wanted to buy a Privilege 615 and sail around the world. After several discussions I proposed to buy only a Privilege 515 and from the difference finance the sail around the world.

He did it.

After he arrived back in Europe, he stated that his boat was too big. He had problems to get his boat out of the water just because it was too big.

He stated, that our boat a Privilege 435 or a Privilege 465 is just the right size.




Additionally, I always follow the KISS principle especially for a circumnavigation. Keep in mind that all, which can go wrong, will go wrong. And where to get all the spare parts you will need?

And before you start get sailing experience that you don't need to look into the manual when you need to get sails down in a storm. Know what to do when an electrical winch suddenly fails and you need to reff.

Holding a sailing license, having sailed often in the Pacific (longest sail: Guam - Tokyo), and a few years in the Med, I call our sail of 2019 (4000 NM half of if single handed) a preparation sail. Going into the Atlantic I will first feel wind and wave in the coastal waters of Portugal before doing 600, 800 and 2 500 NM open water sails in the Atlantic, and I know I have a strong Privilege boat.

All the best!

[GBR134]

I think this is a wind up - I hope I'm right!

[MikeHoncho]

One of you guy probably bought it out from under him...shame on you!

[Rol1964]

Wow.
7 pages of responses to a ludicrous first post! And nothing from the OP. LMAO.
Not hard to see everyone is losing their marbles due to cvd!!!

[p435]

Reading the initial post again, I got the idea you need someone who knows all (technical, sailing, legal, insurance, experinece, etc.) around boats in the size of your boat and who also knows the seven seas of the world.

I can recommend to contact Catherine Relandeau (https://www.cathyacht.com/) she speaks fluent English and is a specialist for BIG cats. Pay her for here advice and support.

[CathYacht]

Dear Paul,
I would be happy to help you in your project ; I am specialized only in selling Cruising Multihulls above 50' and since 1989 ; after 25 years spent working for yachts builders, including Beneteau and Privilege, I believe to have the proper expertise to accompany you ... Are you already in contact with a broker for your Sunreef 62 ?
Let me know and feel free to contact me on my email
contact@cathyacht.com
Best regards
Catherine
www.cathyacht.com
+33(0) 6 892 792 06