Thinking about buying a Shannon 43 Fixer Upper

[Pallykin]

We've been thinking about the next boat that would be capable of cruising and comfortable. Catamarans hold a lot of appeal, but the cost is out of reach.

Recently we came across a 15 year old Shannon 43 that has been on the hard for a number of years. Everything soft (canvas, sails, cushions), and electronic will need to b replaced. The boat has a few cosmetic issues that would need to be addressed.

We estimate that that it would take $100K to make this boat usable again. At what point is this a bad idea? And is it possible to finance the cost of refurbishment when purchasing a boat?

Any advice welcome.

[Vasco]

Nice boat. If it's free and you've got the 100K and time it might be a good idea, but frankly, I would not put 100K into a 15 year old boat.

[Cotemar]

In this buyers market there are so many boats ready to sail away. Why stress yourself on a fixer upper. Sailing is much more fun than fixing.

[CCBullseye]

The Shannon 43 is a great boat. You can get a wealth of knowledge from Bill at the Shannon boat builders located in Bristol. He has a really nice 43 cutter about 15 years old for sale now and recently reduced the price a bunch. Are you looking at a ketch or cutter and is it a centerboard? Please PM me about her if you decide to take a pass on her.

[Boracay]

It's caveat emptor.

I did a quick search on the internet and if what I found is right the Shannon 43 is considered to be one of the classic cruising yachts.

There's a 15 year old one listed on sailboat listings dot com for $295k!

So it all comes down to the condition of the boat (survey?), the price and how much sweat equity you can put in.

If you're in a position to put in from 3 months to 5 years (or more) work (say 500 to 5000 man hours, have the skills to restore a classic and and the money to cover the purchase price and the restoration then why not.

Me, if the price was right I'd slap some antifouling on the bottom, splash it, cross my fingers, and go cruising.

[Pallykin]

I guess another valid question would be, are there other boats currently on the market that are ocean cruisers designed for double handing like the Shannons?

[Cotemar]

Pallykin,

You may want to wait until after you charter the Lagoon 42 this winter.

For the same $250,000 you spend on the Shannon 43 you can find a nice Cat that you can single hand and turns on a dime with two diesels.

A 36 foot cat has the room of a 46 mono and some sell in the $180,000 range.

[Doodles]

Originally Posted by Pallykin

I guess another valid question would be, are there other boats currently on the market that are ocean cruisers designed for double handing like the Shannons?

I looked at a couple when we were in the market last. What makes them "designed for double handing"? I can't remember any thing unique.

[Pallykin]

I mean they are designed for a couple which really means they can be sailed by one person while the other person is off duty.

[Doodles]

Originally Posted by Pallykin

I mean they are designed for a couple which really means they can be sailed by one person while the other person is off duty.

Then to answer your question most cruising boats would fall into that category.

[Vasco]

Originally Posted by Cotemar

Pallykin,

You may want to wait until after you charter the Lagoon 42 this winter.

For the same $250,000 you spend on the Shannon 43 you can find a nice Cat that you can single hand and turns on a dime with two diesels.

A 36 foot cat has the room of a 46 mono and some sell in the $180,000 range.

This is an important consideration when buying a cruising sailboat? It's the last thing I need on a cruising boat. In my six months of winter cruising I usually dock the boat twice, once in Nassau and again when I lay the boat up for the season.

[sailorboy1]

Doesn't really seem to be any point thinking about whether it is worth putting $100k into a refit without knowing how much you are going to pay for the boat.

Then the next question is whether you are looking at what you could get for the total price, or are you thinking "hey it's a Shannon".

I get the impression that you really what us to say "yes that sounds like a great plan".

[foggysail]

Originally Posted by Cotemar

Pallykin,



For the same $250,000 you spend on the Shannon 43 you can find a nice Cat that you can single hand and turns on a dime with two diesels.

IMHO it depends how much time one desires to be docked. Around here, you will not be on one very much! There are few slips to accommodate them.

[MysticFred]

I own an '86 Shannon 37 centerboard (love the 43) and echo the sentiment above, Bill Ramos and the folks at Shannon are an outstanding and enduring asset to owners that do much of their own work. From my perspective, a 15 year old Shannon is almost new but is probably at a point, especially if neglected, that it is ready for a thorough refit.

As suggested above, your $100K number, the selling price and what you are able to do yourself are key elements in the business case whether to purchase.

Good luck.

[CarlF]

+1 that a 15 year old Shannon is practically "new".

Call or go visit Shannon. They will likely know the boat and give you good advice on what likely needs fixing.

If you buy the boat, I'd consider having Shannon do the refurbishment at their Bristol facility. They do this regularly on much older boats than this.

Carl