BarryWhite
Well-Known Member
That's a good plan. I will have a look in the Med ;-)As others have said, you will spend at least half your purchase price over again on repairs and improvements to a boat of that age. Possibly more. I spend at least the same as the original pourchase price of my 40 year old 10m boat on fitting her out and some basic repairs. But you don't have to spend it all at once, especially if the rudder, engine, mast, rigging, sails, hatches and structure are sound.
Or, as my friend who re-registered his boat under 12m did, wait for an impeccably kept boat to come on the market as a distressed sale. He told me that he bought his last two boats in Sardinia from a retired German doctor and a dentist, both of whom were getting too old to manage their boats any longer. Then he sold them at a profit after cruising for a year in each. Best kept boats he has ever come across, he says. Having seen one, I believe him ?