Refit north of the box

[Stu Jackson]

This input is invaluable.


Do a search here on "+project+boat" and you could read for weeks.


Save yourself the work and re-read TP's post a dozen times.

Originally Posted by TrentePieds

Why-ever would you contemplate such a thing?

You say: "...in need of sails, running rigging, stack pack, teak, sail drive rebuild, genset replaced (10k hours), aircon work, refrigeration work/replace, electrical systems evaluated, all interior headliner and side panels replaced (current color is yellow), nav electronics screens replaced, to name a few."

Has the "need" for replacement of the components of this copious a list been determined by someone with a knowledge of boats? Do YOU have knowledge of boats? Have you done a systematic "scope of work" analysis for the total task complete with costing of each sub-task?

You ask: "Who do you recommend I meet with to discuss the needs list?"

I recommend that you meet with YOU, and teach yourself not only what is involved in such a task, but also the skills to do the work that is required. That sort of learning is "hands on" learning, and you will NOT get it off a forum, or off a website or by sitting in someone's office having your ear bent.

Do take a step back, take a deep breath and re-evaluate how realistic your plan is!

All the best to you :-).

TrentePieds

[joelhemington]

Originally Posted by SillyCs

First let me say THANK YOU!.. to each of you. You all have valid points and some require more data.

A bit more:
- I have owned several boats in my lifetime, however not 50 ft cruising cats - so I know little and know a lot of nothing - albeit I am a professional project manager of sorts, just of the flying variety rather than floating. I am not a pro at forums and I am typing this from my phone so please excuse any typos.
- I own an aircraft management company of 20 private jet and turbo prop aircraft (I own the company - not the aircraft), have been a professional pilot for several decades - I bring this up for no other reason than to clarify I want my ship(t) tight and a firm believer in prevent and replace early… I know even then stuff breaks on boats - not completely naive here…
- The vessel is a privilege 50 - the ask is ridiculously high and the sellers price expectations appear to possibly be shifting based on subtle hints from the selling broker (and id hope so based on the vessel not selling for months on end in the hottest market in history) - however see the goal below
- The overall goal was to buy the boat at some lower price which would allow me to then invest additional funds and project management to bring her back to the high standard I know she could be in - say she’s worth XXX in perfect condition - buy her for YYY which is XXX minus refit costs not to exceed XXX - possible?
- does she absolutely need new sails? Maybe not quite yet, tho I’m not a fan of blaring the charter company’s logo on the downwind sails. So yes this could wait.
- the teak? Someone pressure washed it so close that the fibers are missing in so many areas and a splinter hazard. Could we sand down? Perhaps, but I want it as nice as I know the privilege can be.
- The concept was to have much of the work hired out and bimonthly visits to manage and track progress - perhaps this is all a pipe dream… AND I accept this

The boat did not sit on the hard. It sat in the water or so it appears. Is it hard to believe a vessel sitting in the water unused for over a year is looking rough with moldy sails and heavy corrosion? I have Dropbox file to show you from my visit - if interested - pm me and I’ll share.

I will PM with phone to discuss with the person who offered following this post.

I am not a pro at forums and I am typing this from my phone so please excuse any typos.

Again, much gratitude for the wisdom shared.

- Coy

A 2015 Privelage 50 is definitely worth refitting if and only if you can get it for the right price. The current owner sounds like they might be in LaLa land and asking a post refit price for a pre refit boat. This is not uncommon. The fact that it's sitting in the water means it's costing him an arm and a leg to keep the boat which might induce him toward accepting a more reasonable offer. If the sails are covered in mold, maybe it's a good time to replace them - they could be cleaned (somewhat) but it's a nasty and time consuming job to do on something you really don't want. Most cats don't use teak on the decks. While very "Yottie" people would rather have GRP as it's a lot cooler to walk on. If you want this boat for yourself, then make a reasonable offer contingent upon survey and sea trial and proceed - you'll have to pay to have it hauled and resplashed so you can do a proper survey. If the seller had a clue, it would already be on the hard so it could be surveyed by an interested buyer. If this is something to turn a profit on, I'd invest in Real Estate instead. The only people I've ever heard of that turn a profit off of flipping a boat are those set up to do the work themselves. If this is going to be your boat, then the goal should be to end up at a substantially lower price than one you could just buy to justify your efforts. I get the sneaky hunch the broker may be on your side here as I'm sure he'd love to move this one before it deteriorates even more.

[zjames]

I would contact Bennet Brothers Marine in Wilmington NC or Bach Marine in Beaufort NC

[jordanbigel]

invest additional funds and project management to bring her back to the high standard I know she could be in - say she’s worth XXX in perfect condition - buy her for YYY which is XXX minus refit costs not to exceed XXX - possible?

No. It's not possible unless you do the vast majority of the work yourself. I tried it myself 20 years ago. I worked full time and sent all my money to the boat yard. It did not work out financially in my favor - the math, it just won't work. I ended up spending 25% more than the final "perfect" value of the boat to achieve that state. After 21 years living aboard, I have no regrets, but I could have bought a brand new boat for the amount I spent.

Also, I lived 15 miles from the yard where the work was done. I visited 3 or 4 times a week, and a lot of stuff still got done without my supervision and sometimes without prior approval. You try the same thing but the yard is 1000 miles away, forget about it. Just forget it.