Keen but Green

[Nath]

Hi,

My Wife and I have decided that we want buy a Cat and live the cruising life. We have limted sailing experience but as a surfer I have a strong understanding of wind and sea. We have done a 7 day live aboard inshore skipper course and recently Bare-boated a FP Athena 38 in the Whitsundays.

We have been blessed with a helping hand to make the first step a lot easier. I picked up an 18 month contract in South Korea and we have sold all our land lovers possesions back in Aus and rented our house out.

The plan is to do a few more Bare boats to gain more experience then start looking for a boat when our time here draws to a close (in 12 months time). At this stage we're looking at picking something up in the Indian Ocean or on the East coast of Aus (preferabley outside of Aus as boats seem very expensive there in comparison).

We like the look of the FP Bahia 46 as I fancy trying to do surfing cahrters one day. We have a 6 month old son and plan on having another child so a bigger boat is appealing. Anyone got any opinions on the Bahia 46?

Also with Aus$ being as strong as it is at the moment I've been thinking of buying something that is in charter and leaving it to look after itself until we're ready.

Feel free to shoot holes in my thinking?

Thanks,

Nathan

[GordMay]

Greetings and welcome aboard the CF, Nathan.

Seems like you’ve established the beginnings of a reasonably workable plan, to me. Good luck!

[Southern Star]

Yes, Nathan, welcome aboard. As Gord says, the plan sounds reasonable - my only caveat would be with respect to buying a boat that is currently in charter and leaving it "to look after itself". I am not sure if you mean one that is currently being crew-chartered, or bare boated, but:
1. if currently in a crewed charter and it is doing alright financially, why is it being sold? Further, if the current crew are owners, your expenses can only go up.
2. if a used boat currently in bareboat charter, I assume it is being sold because, at least to the existing bareboat company, it has become too old and in need of too much maintenance to be profitable to continue with it in bareboat service.

Brad

[osirissail]

Originally Posted by Southern Star

. . . 2. if a used boat currently in bareboat charter, I assume it is being sold because, at least to the existing bareboat company, it has become too old and in need of too much maintenance to be profitable to continue with it in bareboat service.
Brad

The "too old" is correct, but the too much maintenance really isn't. In the 1st level of bareboat chartering companies, "new" is the thing. Maintenance is not really a factor beyond how many hull repairs due to dock and other collisions have been accumulated.
- - Just like with automobile leasing, "new" means more folks want to try it and rent it. It is a prestige thing and "new" boats command a much higher rental/lease rate.
- - There are 2nd and 3rd level bareboat charter companies that take the 3 year and much older boats and do a fairly good business, but their rental rates are significantly below the 1st level companies.
- - If you are contemplating purchasing an older boat then renting from 2nd and 3rd level bareboat charter companies is important so you can experience what the "older" boats can do and how they hold up. Otherwise, if purchasing "new" then by all means charter from the 1st level companies.

[James S]

Welcome to the forum Nathan.

[Southern Star]

Osirissail, let us say that we agree - largely. Yes, most people prefer to charter a newer boat and yes, they are prepared to pay a premium for the same. Frankly, you can include me in that category and not because I am a snob for new designs.

Rather, having chartered years ago from a company who had a fleet of generally aging boats, I found the condition to be distressing; worse still, I found the refrigeration break-down to be more than a nuisance on a short vacation.

Yes, there are second-tier charter companies who make a living chartering older boats for less money, just as there are hotels that are relatively run-down that rent out rooms for less money. Personally, I would prefer to stay at a hotel/charter a boat that isn't run down and in need of maintenance/upgrades. Others differ. What does not differ, I suggest, is that at a certain point, especially in the Charter trade, a boat begins to get a bit run-down. Even though she may be a current model (and a number of boat designs/models are kept essentially intact for more than 3 years), there will be disappointment from many charter parties at the stretched/re-stitched sails, the stains/water marks in the interior, the gelcoat scratches, etc., especially if one is chartering from a 'first-tier charter company.' So yes, I believe that age as well as condition/maintenance needs are both factors in the first-tier companies decision to take a boat out of service.

In any event (and I am sure that you will agree), older boats (espeically in the Charter trade) are going to need more money spent on maintenance and upgrades than a newer boat of the same design, or the same boat that has been used more sparingly. Some buyers will be quite happy to save some initial outlay for a boat they are interested in and tolerate the trade-offs: substantial hours on the diesels, worn if not blown out sails, heavily used systems etc. Others will not be.

This, however, is where your suggestion to charter form a second-tier company makes great sense for the prospective buyer - it truly will give you an idea of what your boat may look like in a few years, especially if it is to be chartered out until you are able to move aboard full-time.

Brad

[Nath]

Some good food for though there.

Thanks,

Nathan

[SuenosAzules]

Good luck on your adventure.. Just play it safe.. Listen to your instincts..Take things baby steps at a time. and you will be fine..