Excellent survey, solid hull, solid engines, poor interior - opinions?

[SoulFireMage]

Having looked at an older 46' flybridge, I have an interesting dilemma.

The interior is pretty poor and a bit hard to look past.

Yet the survey is very recent and excellent. The hull is very good and well maintained.

Price isn't, unusually for our current poor buyers market, too bad.

How many would look past a fairly poor and dated interior in favour of the fact the hull and engines, the survey are all really good?

And, on that note, anyone know good refitter types round the Bristol area who won't "see us coming"? Need a new, higher up flybridge searing as well as most interior linings in the lounge redone etc.

 

[harvey38]

We had the same dilemma when we bought Tolerance nearly three years ago, mechanically and structurally sound but.........had been a livaboard for four years and badly in need of an update!

I'm quite handy and happy to have a go at most things, living 256 miles from the boat it was a balance as to what we paid others to do vs what we could remove from the boat, load into the car and do at home.

Whilst very frustrating at times, this is quickly forgotten and the feeling of satisfaction is almost addictive.

All boats are a compromise between, layout, space, purchase price, running costs etc. but if you can see beyond its dated looks and prepared to get to know your boat intimately, can cope with frustrations, have a flexible approach and happy to use your boat during the process, go for it. We still have plenty to do but just love putting our own mark on the boat. The FB link on our signature gives an idea of what we're up to but, if you are already baulking at the idea of doing a lot of the work yourself, you may want to walk away, what may seem good value now, will quickly add up!

Good luck.

 

[superheat6k]

Time to make sure the rose tinted specs are removed then make detailed list of all the tasks necessary to get the boat back to a reasonable condition.

Then price each assuming you were paying a professional to do the work. Add it all up then add a further 25%.

Add this to the asking price and then consider if anyone would pay this price to buy the boat from you. Then adjust the AP to a sensible number, and that is your target price.

Bear in mind also that what for you is not so bad, most buyers will have already run away. So your comment that the boat is reasonably priced may perhaps not be the case. In most cases boat resale values are going in one direction only. Come the end of this season and the seller's market will rapidly become a distant and for many painful memory.

 

[Refueler]

This 'sellers / buyers market' thingy is IMHO something that people quote - but in reality ....

Buyers walk away from what they consider overpriced regardless of 'sellers market'.

Sellers turn down offers unless they really have to sell .. regardless of 'buyers market'.

Heard it so often when sourcing boats for buyers ... Broker / Seller telling me its Sellers Market ... price is xxxx ...
I politely let it in one ear .. out the other ... mentioned my suggested offer - not solid 'I will buy offer' ... went on to look at another boat.
Most would contact me day or so later saying yes ... but by then my buyer was often sorted.

I am not talking about small or budget boats ... I was sourcing 36 - 50ft boats such as Jeanneau ... Beneteau ... HR etc. The price reductions I was securing - you could buy a 25 - 26ft'r boat with !!

I do not believe it has changed significantly - judging by recent searches I've made for a couple of buyers recently. They actually ended up buying boats in Sweden / Finland ... but that's not the point.

 

[SoulFireMage]

Time to make sure the rose tinted specs are removed then make detailed list of all the tasks necessary to get the boat back to a reasonable condition.

Then price each assuming you were paying a professional to do the work. Add it all up then add a further 25%.

Add this to the asking price and then consider if anyone would pay this price to buy the boat from you. Then adjust the AP to a sensible number, and that is your target price.

Bear in mind also that what for you is not so bad, most buyers will have already run away. So your comment that the boat is reasonably priced may perhaps not be the case. In most cases boat resale values are going in one direction only. Come the end of this season and the seller's market will rapidly become a distant and for many painful memory.

I'd agree.

My guesstimate is £20k - £30kof woodwork renewal, headlining, linings, carpet and making nice throughout would make her truly wonderful. So, to me, £60k would make it financially OK.

My DIY is moderate and good for repair basics but doing this right is mostly craftsman stuff to me. Especially the fabric work.

 

[SoulFireMage]

This 'sellers / buyers market' thingy is IMHO something that people quote - but in reality ....

Buyers walk away from what they consider overpriced regardless of 'sellers market'.

Sellers turn down offers unless they really have to sell .. regardless of 'buyers market'.

Heard it so often when sourcing boats for buyers ... Broker / Seller telling me its Sellers Market ... price is xxxx ...
I politely let it in one ear .. out the other ... mentioned my suggested offer - not solid 'I will buy offer' ... went on to look at another boat.
Most would contact me day or so later saying yes ... but by then my buyer was often sorted.

I am not talking about small or budget boats ... I was sourcing 36 - 50ft boats such as Jeanneau ... Beneteau ... HR etc. The price reductions I was securing - you could buy a 25 - 26ft'r boat with !!

I do not believe it has changed significantly - judging by recent searches I've made for a couple of buyers recently. They actually ended up buying boats in Sweden / Finland ... but that's not the point.

We've seen a few boats we got beaten to now where there are folks around queuing to pay the premium. Enough that I keep saying to my other half that we ain't paying no BrexyCovid tax just because lots of folks appear willing to.

The relative scarcity of hulls - surprising giving the cost of living stuff surely must affect this end of the market - seems to be quite a problem.

2006 - £85k got a rare 46' Powles in good condition, reasonable inside, at 27 years old.

Now a similar sized and age boat starts mostly over the 110k mark - and that's the cheap ones lol. One guy is holding out for all the money he ever paid out including upgrades form what I can see (135k, 27 years old, unknown engine hours etc)

Hence why I comments its a sellers market.

In the end, I guess, its not like a house or flat where one HAS to have somewhere to live. So maybe leaving it alone and trying during the off season this year, and failing that next year, is the far wiser course of action

 

[superheat6k]

When I was on the hunt I was seriously interested in the Chung Hwa, and placed an offer on the basket case in Lymington.

Then another appeared that was apparently immaculate and went under offer within a couple of days. Indeed it was already under offer when I discovered it.

I contacted the broker to see if I could view it, but was turned away due to the offer from a 'serious' buyer.

So a couple of days ago I get a text from said broker - am I still interested !

Schadenfreude I think is the term to describe the feeling that generated. I did enjoy sending the text advising I had bought the Gand Banks.

I reckon that boat wail now sit unsold until next Spring and then will require quite a haircut on the price.

Interestingly the basket case is still asking the same ridiculous price, even though it has now cost the vendor a further season's mooring fees (£10k a pop in Lymington yacht haven).

 

[oldgit]

Recent experience .
For every 10 boats you actually get to view , 8 will reflect the "Covidacation effect" and many of those will be in pretty sad condition, making it easy to drive away .
Of the two or three in nice conditiion, asking prices will reflect the state of the present market with a broker , whos job is purely and simply to get the best price for a seller.
All nice stuff still probably sold before it even arrives on the sales pontoons.
Having observed over the last couple of years possibly around 20 + boats change hands on our moorings, suggest the following has influenced the market.
Staycations and Covid both affected the market in different ways.
The Cream.
At our upper end (£150=180.00 K ) not much movement , ie.folks selling up a sports boat at a considerable loss (multiple bad expensive experiences with outdrives ) and then buying back in shortly afterwards with an absolute steal from fellow club member who was downsizing.( Fly with shafts of course ).
One purchase of a first boat at £145 K, purchase price probably reflecting it had IPS.
Certainly no shortage of folding cash in this bit of the boat market and why leave it in the bank at 11% inflation.
Middle Bit.
In the middle ground (£30K-£60K) 30-40ft much changing of boats with general swapping of older vessels for boats perhaps a decade newer, usually with an interest in a more modern design both externally/ inside and perhaps a tad faster. Again no obvious shortage of funds.
Steerage.
An age related bulge of folks simply giving up has resulted in a considerable number of "venerable" craft (all sizes 30-40ft £10-35K) coming onto the market a few merely need good a fettle and bit of love but they soon get sold privately at what would be regarded by some as bargain prices.
Covid has had an effect on boats coming up for sale with relatives listing boats with brokers simply to get them gone.

A noticable number of new entrants to our hobby , with small fast speedboats with some accomodation, as a first boat.
Much grumbling among our "Ancien Regime" about the price of fuel but they are mostly still out there with their heavy old inefficient diesel guzzlers.

 

[SoulFireMage]

Yeah this quote here really makes me feel it's a touch hopeless for this year - other than deliberately looking during November/December (both this year, and if need be, next) in the hope that bucking the trend shakes loose some genuinely fair priced worthwhile craft.

"All nice stuff still probably sold before it even arrives on the sales pontoons. " Just where are all these folks appearing from with the cash and desire to pay over the odds, a long way over?

I think I've decided not to pay the BrexyCovy tax which may indeed mean a long ass wait.Annoying but better than getting shafted by a price that almost certainly will be utterly lost on resale in a few years.

That's my other big objection to the premiums: one always expects some depreciation after a few years, so buying something that's clearly £30k over the odds is compounding that as such premiums are unlikely to be there in 3-7 years time should we choose to sell again.