Sell Boat 'As Is' or Do It Up?

[Jeannius]

Well the time has come to consider selling my much loved but hard used Privilege 435. She's been in bareboat charter, I've done crewed charter on her, we've cruised the Caribbean for a couple of years and, oh yes, we did a circumnavigation on her. But we are now sailed out, can't think of anywhere else we want to sail.

So time to sell... the problem is although I'd be happy to set out on another circumnavigation with her in the current condition, you can see she's had a hard life.

So, should I spend $50k doing the cosmetics, rebuilding or replacing the engines and getting a new set of sails?

Or should I put her up for sale in the current condition as the cheapest Privilege 435 on the market and let someone else get a great boat that they can then spend money as and when they have it to bring her back to pristine condition?

What does the forum think?

[GordMay]

Clean & Tidy.

[Richard Jordan]

Originally Posted by Jeannius

Well the time has come to consider selling my much loved but hard used Privilege 435. She's been in bareboat charter, I've done crewed charter on her, we've cruised the Caribbean for a couple of years and, oh yes, we did a circumnavigation on her. But we are now sailed out, can't think of anywhere else we want to sail.

So time to sell... the problem is although I'd be happy to set out on another circumnavigation with her in the current condition, you can see she's had a hard life.

So, should I spend $50k doing the cosmetics, rebuilding or replacing the engines and getting a new set of sails?

Or should I put her up for sale in the current condition as the cheapest Privilege 435 on the market and let someone else get a great boat that they can then spend money as and when they have it to bring her back to pristine condition?

What does the forum think?

Don't replace engines or sails if you can at least run a seatrial with them. Do empty out all your gear and clean her meticulously. I'd have to know more details on the cosmetics to advise on an item by item basis. Move her to a US location like Annapolis, Lauderdale, etc. RJ

[belizesailor]

Originally Posted by Jeannius

....

So, should I spend $50k doing the cosmetics, rebuilding or replacing the engines and getting a new set of sails?

Or should I put her up for sale in the current condition...

My vote would be no because it is not like you are going to gain the $50K in resell price. If you spend the $50K that's cold hard cash out of your pocket, if you leave maintenance issues as a negotiating point then that's just less money put in your pocket later (maybe much less than a $50K loss). Sounds like you've gotten good use out of her so I would just go for the more modest sale price.

However, I would "fluff" the boat -- appearances make a big difference at minimal cost. Remember "A little powder, a little paint, makes a lady what she ain't" !

[Wotname]

Originally Posted by Jeannius

Well the time has come to consider selling my much loved but hard used Privilege 435. She's been in bareboat charter, I've done crewed charter on her, we've cruised the Caribbean for a couple of years and, oh yes, we did a circumnavigation on her. But we are now sailed out, can't think of anywhere else we want to sail.

So time to sell... the problem is although I'd be happy to set out on another circumnavigation with her in the current condition, you can see she's had a hard life.

So, should I spend $50k doing the cosmetics, rebuilding or replacing the engines and getting a new set of sails?

Or should I put her up for sale in the current condition as the cheapest Privilege 435 on the market and let someone else get a great boat that they can then spend money as and when they have it to bring her back to pristine condition?

What does the forum think?

My gut feeling is NO, you won't recoup this money; if she sound enough to cast off next week, then potential buyers will see that and will be happy to spend some bucks tarting her up to whatever standard they aspire to. They will under estimate how many dollars are needed (we all do) and that will be to your advantage; they will be thinking what a bargain.

As others have said, clean and tidy is the order of the day.

[belizesailor]

BTW I used to run one of these in charter. The sailing performance consistently surprised me. The Privileges, with their very high freeboard, look big and bulky at the dock, but they will get up and roll in moderate conditions. I used to consistently get 8-10 knots under sail in moderate conditions...sometimes a bit more with some more breeze.

Surprised some cruising friends in a Chris White Atlantic 45 too. Another captain and I were moving a Privilege 435 one day, tacking north along the coast (yes, toto cats can tack and go to windward just fine in the right hands.). It was a bit breezy, about 18 true, and we had a couple of students aboard so we had in a single reef. The folks on the A45 used blow by charter boats (w/ inexperienced charterers at the helm) just for fun. We noticed them ease up behind us and start covering our tacks -- out came the reef -- and the "race" was on! The A45 is of course a much faster boat, and the captain and crew were quite competent, but much to their surprise they had to work a bit to get past us. We were consistently doing 10-11 knots to windward.

[Lake-Effect]

Some experienced buyers will be able to tell that a boat's been used, but used reasonably... However, to most prospective buyers, a boat that's in dirty, disorganized shape implies lack of care, which suggests equal neglect to the systems as well.

I would say that when you're ready to start showing the boat, take everything loose off the boat, clean-clean-clean, and fix any inexpensive but glaring small issue. If possible, the boat should be in sailaway condition, but include a list of the major system maintenance that will soon be necessary.

Spending a bit of money for small fixes and a polish ($5k?) could bring returns. In real-estate, spending $10k in cleanups and improvements to a house attracts more offers, and often brings $20k or more to the selling price.

I'm not a yacht broker, and I haven't bought or sold a large yacht, I'm just extrapolating from other experience. Good luck.

[Paul L]

I'm don't agree that you will see the expenses you spend on fixup in the sales price. What I think is more realistic in this marketplace is that you are likely to get more showings and offers sooner because you took care of the cosmetics. As others have said get the crap off the boat. Hull wax, varnish on below deck trim, clean cushions are all worth it.

[Mimsy]

If i were in your position, I would pay to have the boat detailed and hull cleaned and polished. If the interior cushions are tatty, reupholster them and get your stuff of the boat. I wouldn't do more than that. There is a good chance you won't recoup your expenses and also a good chance that a prospective buyer might want to do things differently anyway.

[nautical62]

I've had a boat on the market for 6 months. Mine has been used a bit hard which shows, but had no big problems. It's interesting to hear from the broker what things turn potential buyers off and it's mostly small curb appeal things, not functionality things.

A GPS installed in the cockpit with a wire running down the corner of the back birth is seen as a negative, because the wire can be seen. New through hulls, a new keel to hull joint, etc. don't mean much, because they are not immediately apparent to people.

So, I guess my advice is to not spend a lot on new sails, etc., but spend some on things that will make it immediately more appealing - Make sure it's clean, maybe varnish/cetol exterior wood work, maybe replace a few ratty sheets, etc. Things like that. Also functional things like making sure your starting battery will start the engine.

Get someone else to get on your boat as if they were a buyer and listen objectively without arguing as to what turns them off, and then consider how/if you can affordably address those objections.

[David_Old_Jersey]

A few quid spent is a wise investment - if it don't work then take it off. and blank off any holes for stuff that has gone (nothing worse than a helm that looks like it has been machine gunned ).

Remember that you are probably selling to the wife as much as the fella - clean, clean, clean - especially the heads. and maybe a few soft furnishings (scatter cushions ). colour co-ordinated not simply the stuff collected over the years - no matter how comfy .

Apart from that I would say positioning is the most important thing - got to be where the market is (or if can't be then at least easy / cheap access - i.e. not an international plane ride and 3 island hopping boat trips away).

[Jeannius]

Thanks very much guys. You've pretty much confirmed what I was thinking... Just do a bit of a tidy-up and keep the price realistic.

The boat is very solid and as I said earlier, I'd be happy to head out on another circumnavigation without doing anything to the boat. Just hope there is someone out there looking for a low priced quality boat.

[Ex-Calif]

Originally Posted by GordMay

Clean & Tidy.

'nuff said...

But I wouldn't put it on the market as the cheapest Privilege - especially if the mechanicals are good.

She's got pedigree and experience and that counts for a lot. Let the buyer make a lower offer.

The advantage for the buyer is they can reserve some of their money to make her their own.

[geoleo]

Originally Posted by Jeannius

Well the time has come to consider selling my much loved but hard used Privilege 435. She's been in bareboat charter, I've done crewed charter on her, we've cruised the Caribbean for a couple of years and, oh yes, we did a circumnavigation on her. But we are now sailed out, can't think of anywhere else we want to sail.

So time to sell... the problem is although I'd be happy to set out on another circumnavigation with her in the current condition, you can see she's had a hard life.

So, should I spend $50k doing the cosmetics, rebuilding or replacing the engines and getting a new set of sails?

Or should I put her up for sale in the current condition as the cheapest Privilege 435 on the market and let someone else get a great boat that they can then spend money as and when they have it to bring her back to pristine condition?

What does the forum think?

Project boats take a long time to sell -- most people dont have the time or skills to fix them--so you greatly limit the market if you dont fix it yourself.

[ausaviator]

I'm looking for a low priced quality boat, so if it's low enough, I'm interested.

For me, a low cost would be preferable, then I can hard her, do the work myself where possible and save a few dollars. There's no point you spending $50k at full retail when the next guy (like me) might be able to do it for less, at least I have the option. The only downside of advertising at the low price is that people often don't want to spend the time or the money in doing her up, so you may lose potential purchasers.

The other thing is that the buyer is tight on money, if they take delivery and hard her, then they might have a couple of years to find the money for a slow upgrade.