southerly 38, 300k

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Oscarpop

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Just had a quote for an average spec boat at 300k. This is 120k over budget, but as someone put on here last week, they don't lose residual value like the AWB.
Anyone with experience of this "high end" marque . And can you please share it.
Many thanks
 
Residual Value? Where are you expecting to find some one to give you more than £200k for a second hand 38 footer. I may be out of date but I think your Southerly is over priced. You could buy a proper yacht for a lot less than that.
 
Quandary said:
Residual Value? Where are you expecting to find some one to give you more than £200k for a second hand 38 footer. I may be out of date but I think your Southerly is over priced. You could buy a proper yacht for a lot less than that.
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Not sure that is true on either count. A Southerly is a "proper" boat with its own unique characteristics. And price is very competitive with "proper" boats of similar size from Scandinavian builders when up to the same spec.

Whether either is worth £300k is an entirely different question, and clearly some people think so as demand is still strong (comparatively) for this class of boat. Think the Southerly lead time is in years rather than months.
 
Southerly 38 Prices.

Oscarpop said:
Just had a quote for an average spec boat at 300k. This is 120k over budget, but as someone put on here last week, they don't lose residual value like the AWB.
Anyone with experience of this "high end" marque . And can you please share it.
Many thanks
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Having invested most of my life savings in a new Southerly 38 this year I feel somewhat qualified to answer you Oscar. Hand on heart I cannot say that the Southerly is good value for money. Unlike our last yacht a Legend 42 which was incredible value. However I have to say that the Southey has a real feeling of quality about it. All the fittings and fixtures are top quality. Nothing seems to have been scrimped and the wood work and general finish are top draw. The lifting keel is of course one reason for buying a Southerly and is proving for us a great feature. It must add quite a bit to the production costs. The after sales service from the company has been beyond reproach from handover to a very few rectifications. All in all Oscar I dont think you will get a bargain with a Southerly but my experience has been a very positive one.
 
Oscarpop said:
Just had a quote for an average spec boat at 300k. This is 120k over budget, but as someone put on here last week, they don't lose residual value like the AWB.
Anyone with experience of this "high end" marque . And can you please share it.
Many thanks
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Hi, If residual value is a motivator in your purchase criteria you may pass many good craft by.First mate and I looked very closely at Southerly Yachts before buying another make. We would have loved and made use of the Southerly's lift keel but found the ones in our buget were too old. A newer one was out of reach. Check out a used one and make a lower offer-you never know!
 
I think that a huge part of the cost of the boat is in the lift keel. Its one of those things that will be valuable on the East coast, but I can't justify the money. I wonder what the cost of the boat would be if they made a fixed keel (shoal draft ) version.
I too agree that they are overpriced. They do appear well made though.
 
Oscarpop said:
I too agree that they are overpriced. They do appear well made though.
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Overpriced in comparison to what? A Beneteau .... maybe, a Swan .. no. But neither of these two are true comparisons.

If they were overpriced they would not be the successful British yachtbuilder that they are.
 
They do make a fixed keel version/option, or they used to. The way that company has been turned around and has flourished over the past 5 years or so is a credit to them and the new designs, obviously got it right, for their target market that is. its a very unique boat.
 
jellylegs said:
They do make a fixed keel version/option, or they used to. The way that company has been turned around and has flourished over the past 5 years or so is a credit to them and the new designs, obviously got it right, for their target market that is. its a very unique boat.
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Yep a fixed keel is an option, and unless I'm mistaken, I don't believe any owners have taken that option.
 
I own a Southerly 115 Mk1 built in the late 80's. Appart from a few minor gelcoat nicks (the wife again) she is as good as the day she was launched. Yes new ones are expensive, but with quality you get what you pay for and they really do hold thier value.
Plus points:outstanding build quality and deign, the swing keel is awesome and apart from the shape of the foil it is exactly the same design they are still using today. The boat yard is easily accesible and you can visit any time to discuss or just salavate and admire, most of the people who built her still work there and are really happy to help with any issues and they are still the best yard for major work on her. There are no moorings you cannot use, you can easily dry her out for maintanance or a quick scrape or for a secluded barbie on the beach, tidal gates or cills/sandbars become less of a problem. You can have a bit of fun with charter skippers following a big boat into a shallow patch (Beaulieu and Lymmington are great for that), downwind you can wind the keel up and sail her like a big dinghy. The layout both on and below decks is perfect. A very active owners club.
Bad points: Yes, a bit pricey, not the fastest boat around the cans (what else is the donk for) she can be a bit of a challenge in a large quartering sea downwind, so if the wife is on the helm we use headsail only and she skoots along like a dream (later boats overcome this with twin rudders).
To sumarise, she is a solid, dry, easily handled and very safe sea boat. I take a lot of lubbers to sea and the secure centre cockpit gives them a great feeling of security. You can safely and comfortably cross oceans, then crawl up shallow rivers or park her on the beech. Yes, I would love to buy a new one but would need mother in law overboard to finance it.
Good luck and hope to see you at Itchenor some time.
 
Have you compared the AVS of a Ovni and a Southerly??

In particular have you looked at the curve under the line......???

AVS of a typical Ovni is circa 100-110' versus the Southerly which is in excess IIRC of 150'....

I know that Ovni's are reputable blue water boats... but that makes me pretty nervous.

Are you more likely to get Knocked Down, or Run Down??
 
tell you what, OScarpop. I'll buy you a nice nearly new Southerly, and then you can lease her to me for nothing (I'll take care of all the trifling little expenses like insurance and guardienage) and then you can have her back for four weeks of the year, in the West Indies - lovely sun. I'll fill the drinks cabinet for you BTW, as a goodwill gesture.


I've thought of lovely name as well, Miror Mare, it's Italian for "I wonder what strange things happen at sea". Do not confuse it with one of those expat companies, such as Miramar, which run a marine franchise operation and lend-lease peoples' boats as part of an ethical and profitable business.
 
photodog said:
You will lose 20% on that within 6 months... so thats 50k in the toilet right away..

Far better off with something like;

http://www.yachtworld.co.uk/boats/2008/Southerly-38-2356724/United-Kingdom

or

http://www.yachtworld.co.uk/boats/2009/Southerly-42rst-2364259/United-Kingdom
(Offer 300k....)
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If only it were as simple as that! If everybody bought 3 year old boats , there would never be any new boats built!

That 3 year old Southerly would have cost the original owner roughly the same in money terms to buy as he is now asking. Today's (although it will be next year before it is built) £300k 38 will probably fetch a similar amount (£300k) in 2015 when the owner has had 3 years fun out of it.

Almost all boats lose value in real terms because of inflation - now running at near 5%. So a new 38 in 2015 will cost about £350k - but then you will be able to buy a bargain 2012 boat for £300k!

This almost constant money price is most obvious in high priced, low volume production boats, where controlling supply of new boats has supported a strong market for used boats of the same type. It is not so true of large volume mass produced boats where the volume on the used market and until recently the ease of buying new has depressed used boat prices.

So, the choice is, do you spend less, aware that you will probably lose in money terms, or invest more of your assets in a higher value boat (with the additional opportunity cost) and recover a higher proportion when you sell.

I expect that you will find the overall cost over, say a 10 year period (based on recent past experience) would be very little different between a 40 AWB and a Southerly (or HR, Malo etc). The decision just requires the commitment to tie up a higher proportion of your assets in the boat, and whether you value the pleasure of owning such a boat.
 
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