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http://edwardsyachtsales.com/boat-de...BoatID=4713126
Just reading the listing... How does one spend $500k on a refit that does not include new mains, A/C and transitioning to 12/24 volt service?
I guess buying over 100k in gyro stabilizers is a good way to start but sill, where did the other 350 or so go?
Not that I should criticize as I continue to pump $$ in to my 79...' but just can't get to 500k looking at the pictures.
Ask Pizzazsdaddy.
Sorry,.... it was just irresistable. ;)
:)......
They did rebuild one engine. Also painted the boat. I can definitely see how they spent all that money, pretty expensive electronics and cosmetics upgrades. A PO did a very nice, but much simpler interior refit to my boat in 1996, I found the bill from Annapolis Yacht Interiors alone for over $100k.
Nice boat, for maybe what, $250k?
500k on a retrofit and you keep a home cheepo range?? Wonder why they have 2 gyros? All that weight added up top make it roll like Popeye on a drinking binge?
They have two gyros because they couldn't fit a single one big enough for the boat. Pretty common but what woudl worry me is having them under the bed, even with insulation.
$500k and you get an one original engine... The other one has been rebuilt but by who...
The air cons look to be original and not in great shape, lots of wires and hoses everywhere and one picture shows at least one original rotary control.
No sound box on the genny, poorly and cheaply designed helm and except for the galley upgrades the interior is pretty much original even the head with the original Formica.
This is a 250k boat.
Ladies and gentlemen, you just knew I was going to chime in on this topic!
If you want a globe traveler, you've found an overly well equipped choice asking at least double it's actual market value (depending on real condition) in today's depressed market. It's just what it is.
Just looking at the pictures and the hours, I can see another $100,000 still needed to get the whole thing right! Maybe double that!
Besides, If I want to travel EVERYWHERE, with $500,000 to spend, I'd be looking for the nicest Hatteras 58LRC, not a Series 1 58 Motor Yacht. End of subject. Period.
As for what things really cost, at an experienced quality yard, a "premium" (original spray Imron) paint job today (on a 53 or 58), is $1,000 a foot depending on surface condition, (Not including Non Skid Decks which is another $9,000). (Oh...and add another $1250 for the swim platform)! (Brush Awlgrip costs about half that). A complete top to bottom major overhaul on a pair of 871s (including Transmissions) will run about $80,000 at today's prices. A new set of batteries is almost $5,000. Add plumbing. Electrical. Appliances. New Soft Goods...and leaky windows to repair...you're up to $500,000 in no time! Oh....EASILY!!!!
If you do a complete restoration with NEW modern power, you're at $650,000 by the time everything is done, but it will be magnificent. It depreciates 50% the minute you launch it.
On the bright side, If you restore one to the 9s in every respect, you end up with a $3 Million Hatteras for 20% of a new boat price, done to perfection (with warranties)!!! It's all relative. And represents more "value" than most consider.
I looked at the photos. I think this boat is way overpriced. As said, you have one rebuilt engine (with not enough hours on it to know whether the rebuild was done right) and one with 3000 hours- ? due for a rebuild. This design is not a passagemaker, no matter what the ad copy says- these are coastwise cruisers and we all know it. If memory serves, we just finished all telling someone not to attempt a blue-water trans-Pacific passage on a similar boat, didn't we?
I think for 500K you should get a lot better than crude joinery and cabinet doors that don't line up. Among other things. I don't think that Hatteras sent this boat out of the works looking like that.
I don't know what her cruising speed is, but with all the weight added to her in the form of decorative junk, I'd be surprised if she can plane at all. You have a trawler here, but without trawler economy.
I'd opt for a 58 LRC, too. In a heartbeat. An excellent example of one of those might be worth in the neighborhood of this asking price. Not this boat.