I am wondering if anyone has any information about this 58 LRC and could tell me anything about it.
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I am wondering if anyone has any information about this 58 LRC and could tell me anything about it.
Thank you Eric,
I appreciate the response. I know it is being auctioned off on the 17th and the highest bid currently is $49k however i was aboard Emerald Princess over the weekend and was trying to find some other 58 LRC's to compare. I have been trying to find out what they are actually selling for versus what they are listed for.
Thank you so much for looking those up for me. That’s a huge help for me.
For 50K the right person can have a 58LRC to enjoy for pennies on the dollar..... The right person being a guy with a van full of tools and the skills to use them, combined with the schedule and budget of a recently retired person who did allright for himself.....:D
If this was 2022 I'd be on it.......
It isn't going to sell for $50K
What would your best guess be that it sells for?Quote:
Originally Posted by SKYCHENEY
Here is the current ad and listing by the brokerage firm listing Floridian:
https://www.yachtworld.com/boats/197...uiser-3574824/
With 6000 HP one should be able to water ski behind it. At least they are naturals and should be economical.
“CURRENT PRICE” IS A GUIDE. ALL OFFERS RESPECTFULLY CONSIDERED.Quote:
Originally Posted by Byresch
Translation: We'll take (just about) anything.....
I don't want to throw coldwater on anybody's ambition, and the restoration of a Hatt is a noble cause. As every boat owner on here knows, "stuff" costs about 5 times what you think it should... and if you can't do the work yoirself... 10 times as much as you think it should. All 30 year old boats require 10 times more work than you think they should. Think about it. In a factory setting, it took a crew of many men the better part of a year to build one, so it will take 1 man many, many years to restore it. Just reading through the ad for the boat, I see an easy 75k, without addressing the electronics or cosmetics! A big problem is finding a place that allows DIY work, and finding insurance for an "under repair" vessel. No insurance, no dockage. It's certainly a worthwhile project, but it's going to take an ongoing big wallet to do it satisfactorily. Nothing looks worse than amateur work on a classic.
The problem with these old Hatts or any older boats especially larger ones is what they would be worth after you spend a bunch of money rehabbing them. I am going through a similar thing with an old 70 MY. The boat needs so much work that if I do the math it needs about $275,000 to bring it back to a reasonable condition not a pristine condition. If you spent that when you were done you would have a boat that might be worth $ 225 to 250 thousand, so what is the value of that boat? If I were surveying it I would have to say it has no value at all, but no seller is going to admit that. Some of these boats are reaching the point of needing to be destroyed, which is very sad. As a boat builder that 70 has value to me because I can bring it back to a reasonable condition for about $150,000, but there are not many people who can do that, and no boat yard is going to store a 70 foot boat, do the rehab work, and then make only $ 75,000 on it. At least a 58 LRC would have a bit more resale value when rehabbed. As far as insurance goes, I just carry liability insurance until I complete the rehab then get the boat surveyed with a valuation and then insure it. John
Yes to above. That all makes perfect business sense. Business sense, as we all know, goes out the window where boats and other hobbies are concerned. I am so pleased that Aslan's previous two owners so joyfully spent $1.2 million on a $150K boat. Sometimes I just pull out the receipts and go to my knees in adulation.
PS: It would probably have been half that amount had they not done it in the US & BVI.
You are so right Robert, but when you are negotiating to buy you need to use those business arguments to soften up the seller. John
I did. Four months yielded almost 50% off.Quote:
Originally Posted by Scarlett
it was donated certified sales is listing the http://www.certifiedsales.com/listings/YS190119.html
This boat actually looks pretty good. Imagine it with a new paint job. Then we would be having a different discussion. The wood is all original inside and I see very little staining. It obviously needs new generators and engine rebuilds too. But, I think, based on what a nice 58LRC might sell for, someone could refit this and come out okay. Assuming, of course, that they bought it for near nothing.
I would take it on since I have a very good relationship with someone who runs a DIY yard in NC and he has a amazing skill set and quality of work for anything I couldn't do myself. However, I just saw Emerald Princess last week and have been communicating with the owner to work out a deal. Honestly, from what I saw of Emerald Princess and from what the pictures of Floridian shows it is really hard to tell which boat is in better condition. What bothers me is that there has been a ton of wiring work done to Emerald Princess by her previous owner and I just finished rewiring my 44TC so I know how much wiring work trying to make sense of previous work makes me nervous. The wiring work that was done however was notated on the wiring diagrams which will make it much easier but I still don't like wiring that has been messed with. The previous owner from what I have been told was a very smart man and an engineer. Emerald Princess also has a dark colored hull which has resulted in a serious breakdown of the paint and would need to be repainted.
the add lists it as being sold. does anyone know what it sold for?
https://www.yachtsalvage.com/listings/YS190119/
Quote:
Originally Posted by SeaEric
Interesting prices have been dropping on these lrc’s Historically they’ve always commanded a premium and held value through the ups and downs of the boat market
They still command a premium and the prices of the non LRC's have suffered more. And, fact is that they now are over 40 years old....Still great boats but more and more shifting to the "antique" section with layouts and lack of accessories that are becoming less and less popular compared to what's been coming out for the last 10-20 years. Add to that the fact that they are fairly complex with older systems and harder and harder to find qualified techs and parts for. Not to mention financing and insuring them.Quote:
Originally Posted by rsmith
All that said, being a little over 40 myself...., OK a lot, I like them.
They have demanded an unwanted premium, IMHO. But, if people are willing to pay, that's all it takes!Quote:
Originally Posted by rsmith
Thanks for the correction...spellcheck victim. I know people have done it, but I would not take a LRC too far from land. Just look at the doors and the windows; it isn't truly up to what I consider a blue water vessel. One needs a FPB or a Nordhavn IMHO manage the risks correctly.Quote:
Originally Posted by SeaEric
Yeah, but it sure is nice to buy 2500 miles worth of fuel when the price is right.....
The only boat (at least in our size range) more complex than a 58 LRC would be a 65 LRC. Or anything made of wood or metal in a comparable size.
I believe the 65 and the 58 are identical as far as systems. The only difference is the added length.Quote:
Originally Posted by jim rosenthal
and how would either the 58 or 65 LRC be more complicated than say a CMY or MY of the same length?????I don't get it .....Pat
The MY would be more complex. The engines are turbo and aftercooled where the LRC has naturals.Quote:
Originally Posted by doc g
Most passage makers like the LRC have water makers, redundant electronics and othe systems plus are designed to makenl9ng runs without support. Motoryachts are usually not set up the same. At least not in bv the time they were both made. Today's vessels have more options. Some more complex systems and additional creature comforts.
So about equally complex, then.
I went down to Cape Coral, FL last week and looked over this boat. It had a nice water maker, a newer good sized dive compressor with cockpit mounted fill station, 3 generators, serviceable electronics, and was in overall serviceable condition with what I could tell from her being in the water. She definitely needed the starboard side deck soft spots repaired and a good exterior compounding and wax. The pictures online definitely did not make her look to good. She also was in need of some serious interior cleaning, and updating. The morning of the final bid acceptance she was at a high bid of $75k. If I would have had my 1967 44 Tri-cabin sold I would have bought that boat.
Just to keep track of Floridian....
It's listed for sale again:
https://www.tampayachtsales.com/boat...58-lrc/2782558
Rather an indifferent group of photos; they are not exactly flattering to the boat.
Interesting. I wonder what all was done to the boat to take her from her dismal $75K state up to the point of commanding the asking price. The Internet never forgets.
Seems to me they would be advertising all that's been done to her since she was a basket case, but not so much as a mention of anything. This could be more fun than watching Ang's boat come back on the market after the insurance company totaled it. New owner said all it needed was a fluff and buff. Um hmmm...