Finish a partly completed steel cruising boat?

[mickmul]

Hi Cjbeals, Here's that Irish guy to mess with your thought process again! Hope you don't mind! I notice from the thread that the budget seems to have increased, but you are anxious to cast off sooner than later. While you mention you have never set foot on a sailboat, and I know you realise you have a lot to learn, if you are intent on this adventure you may as well opt for a proven boat type on which you can live and learn, with a good resale value should you decide to change plans, and which will stand up to rough conditions (when you have the experience to deal with them). I reckon a fixer upper will cost you as much, and wear down your spirit, as well as prolong the shore time. You said €100k was doable - in your shoes I would go for something like this . . YachtWorld.com Boats and Yachts for Sale=

[Zach]

I've scaled the ladder and looked over the outside... it is in rough shape. (the ladder is worse )

Intriguing, but for being a "new" boat it has twenty years of weathering. Its been in the same spot for a long time.

The Mast has been laying on the ground for quite a while... I wouldn't hazard a guess as to the corrosion that has taken place.

[cjbeals]

Thanks for the advice!
Mickmul, your opinion is always welcome! I'm just jealous I'm not Irish.
I'll have a good look at her, looks like she just came on the market.

Zach, that is a shame to have a fine boat and so much invested just to let rust when a little more work would have protected her. Thanks for the close up, I'm making the right choice.

[mickmul]

Don't forget Cjbeals that as a cash purchaser you can look at 110-115, maybe even 120% of your budget, and negotiate a discount down to your budget. Money talks, and nothing motivates a seller like a motivated buyer with cash on the hip! Buying parts and labour for a fixer upper, you never get that buying power! I'd love to have the buying power, but remember a $500 survey that says "Don't buy!" is the best money you'll spend.

[mickmul]

37' Pacific Seacraft - Crealock 37

Year: 1981
Current Price: US$ 95,000
Located In Mobile, AL
Hull Material: Fiberglass
Engine/Fuel Type: Single Diesel
YW# 37984-1598350
Boat and Yacht Sales, Buy Boats and Yachts - YachtWorld.com

[Amgine]

Originally Posted by mickmul

37' Pacific Seacraft - Crealock 37

Year: 1981
Current Price: US$ 95,000

OMG. The yawl version... Mickmul, I hate you. That's one of the sexiest boats on my fantasy list...

[mickmul]

Mine too, and there's a weak dollar, hit $1.40 to the € today - but I have a great boat bought this year, the kids are still getting into sailing, she's a Dutch shipyard built Van de Stadt - this Crealock sure looks tempting though! Oh well, some day . . I think you'd concur Amgine, cjbeals won't go far wrong with something of this heritage . . .

[Amgine]

SHHH! I just sent a msg to the significant other, asking if we can approach a bank for a loan.

Yes, I can't think of a single Pacific Seacraft design that I would not support as a fabulous choice of a boat; they are *built*. There are some that might not be the best offshore boats, but very few people will actually sail offshore as their primary sailing. Rather like american SUVs filling the city office parking lots.

[mickmul]

A Crealock of that quality over here would make double that price in Euros - that's 2.8 times less value than you lucky sods get Stateside! If I ever do the big blue trip I'd bne very tempted to kick off from the States, and worry about the import tax over here when I'm too old to care! Fantasy boat if money were no object? A Passport 456. I'll start a thread called Fantasy Boat - might generate some well resarched gems!!

[cjbeals]

Thanks, I'll start looking closer at the Pacific Seacraft line. That's a definite plus when two people agree on a boat, especially in a forum.

[clausont]

For what my 2 cents is worth, I was looking for a "project boat" and finally settled on spending the money on a "ready to go" boat. Boy, am I glad that I did. A few hundred hours later, this "ready to go" boat is getting closer to being splashed.
Really, even though the previous owner said that it was ready to go, I knew that I was looking at a project. I knew what I wanted to do to it before I bought it but of course, there was much more than I originally thought).
Here it is when I first got it home:
http://www.cruisersforum.com/gallery...php?i=3521&c=2
Here is where it is at now:
http://www.cruisersforum.com/gallery...php?i=3629&c=2
but it is still far from finished.
The long and the short of it is this:
If I had not listened to the (very wise, experienced) advice of all here and went on to buy my "project boat", it would have probably ended up in the scrap yard along with my broken dreams.
By doing my research on this forum and elsewhere (but mainly here) and following a number of well written articles here that were referenced here, I am very pleased with how the boat project is progressing. That is not to say that I have the real skill to do a top notch job, but I am learning tons by doing this on a smaller, less expensive boat than the one I intend to have in the end.
Thanks to all here, I have my boat and look forward to having it in the water in the next few months.

[MCathcart]

CJ,

I called the broker on the Bruce Roberts about 6 months ago, I was going to look and make a low ball offer on the boat. Me and the broker didn't see eye-to-eye. Right out of the box he wants to sell me something else. We 'bout came to blows on the phone. I told him that I'd try to work it in my schedule to come see the boat and just never did. I think it could be bought for 35,000.00.

Second funny thing, we sailed up to Oriental in June and I saw Harmony sitting on stands but didn't pay that much attention it her. We teamed up with a 37' Tayana in Swansboro NC that was going to Oriental. They were taking her (Evening Star) to Whittakers Marine to sell. She's listed for sale now in the low 90's. She's a very nice boat and will make 7 knots+ by the de-sail. I like the Pacific Seacrafts but I believe I'd have to go with the Tayana for the price.
Whittaker Creek Yacht Harbor (Oriental, NC)

[hellosailor]

CJ, I'm guessing that you'd need to have the hull professionally surveyed and the quality of the welds in particular examined. A surprising number of welding jobs--even by pros--just aren't any good. So with a homebuild, that's the first thing to look at, the welds and the overall construction quality. You'd need someone who can inspect welds--not just a surveyor.

Then there's the cost of professionally finishing out the boat. You may find that yard labor on a custom project is way more than you think.

Can this be a deal? Sure, if the numbers all fall in line. But first I'd suggest getting a spreadsheet (or at least a legal size pad) and starting to get bids and estimates--and then compare that to the price of buying one already finished. Also remember that you will have a "custom" boat, and your resale value will reflect that. Make sure you are not putting in more than the market value of what you can get out again.

[Lancerbye]

Hellosailor's comments are right on the money. This particular kind of boat will have a poor resale value for many of the reasons stated previously. A Bruce Roberts design is primarily for the DIY market. This is not to say that they don't have good designs , but an air of caution is always around when purchasing a vessel that might have been built by someone that did not have adequate skills. Cosmetics can hide a lot of sins and this apprehension when it comes to steel boats lowers the resale value.

[cooper]

....an conversly can allow for the purchase of a bargain, it all depends on which side of the cycle you are. It is not a good idea to go into a great deal of debt because you will find that the interest on your loan soon eats up the difference in resale value. Boats are definately differant to real estate. If you are cashed up then purchasing a boat that is "just" second hand (like the car market. unless we are talking collectors) is about the best you can get with little work. Examples are demo boats or short term corporate charter. For the rest of us, its pay as little as you can, do a lot of work and go sailing without the threat of the bank hanging over you...