This turned up today on Yachtworld: http://www.yachtworld.com/boats/1981...s#.WX_A1-tHarU
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This turned up today on Yachtworld: http://www.yachtworld.com/boats/1981...s#.WX_A1-tHarU
I saw this earlier today. I'm selling.
Very handsome boat. Very nice interior refit. Have you seen this boat? She looks terrific in the photos.
Beautiful but a bit pricy.......unless you consider all that has been done to her and her outstanding condition. Of course these are only pictures and a personal inspection up close will tell, as Paul Harvey used to say "now for the rest of the story". Now if it also had a pair of QSM-11's that would make it as close to a perfect 53 as can be. I like the way they moved the bridge controls forward which opened up the bridge deck. It would be tempting if it were on the East Coast and I was about 10 or more years younger (I'm 80). I'm sure they have sunk a substantial amount of boat bucks into it to make it like that.
Walt
I wonder how long they will leave it at that price before the lower it so they can actually sell it. Note engines no air seps or Racor ccv,s. incredible varnish job. John
It's got a few kool added feature. I like the galley.
Right you are Walter. A skilled photographer using a wide angle lens, tight f-stop and long exposure can really enhance an image. I suspect that is the case here. I recently had one of my homes listed by a realtor and he was able to use that technique to make even my satin finished hardwood floor look like high gloss in the on line images.
You might not even need M11s for a 53MY. They will go surprisingly fast with C series Cummins, esp the 540hp rated ones. Part of this may be due to the weight savings= C series are a lot lighter than DDs. I think this is a nice looking boat, although I don't agree with everything they did. The price is clearly too high- if it sells in the mid-200s it will be extremely well sold, I would think.
She looks very nice, I really like the glossy interior... that said she still has 40 year old wiring and systems. Not worth what they re asking
Wear coast Hatteras's bring more than east coast , nice boat , but overpriced , .....Pat
It's in the land of fruits and nuts. You never know what someone will pay for a floating condo. The engines won't matter to someone who never leaves the dock.
It seems like every time a really nice older boat comes up for sale on here people find fault with the refit and claim it is over priced. Obvious that many of you have never done a major refit and seen the costs involved. I see old clapped out 53' motoryachts for sale for $200 - $300 thousand all the time and a boat like the one in michigan listed for $399,000 is over priced? That boat had over $300,000 worth of work done which means you are only paying 99,000 for the original boat. Same with the boat mentioned here for $340,000, hundreds of thousands of dollars worth of work done and it is over priced. I'll bet both the boats I mentioned sell for the asking price in this market, and they are worth every dollar. It is OK to own an old original boat that you did not want to make new because of cost or lack or desire, but it is not cool to slam people that have the time and money to create something really nice.
I get what you seem to be stating, but if someone invested $300k, that person should never expect to receive a full recovery on the investment of that magnitude into an older "production vessel", and the quality of the vessel's operating infrastructure is always going to be the driving factor behind the boat's true market value.
A $99k vessel with $300k of nice finishes is perhaps a $150k boat...or perhaps more accurately it will be one of the first $99k boats to sell. Every single time I'll take the ugly pig with fantastic infrastructure over the dressed up boatel.
I've done it. I've made the investment, done the work, seen the outcomes, and I always start in the belly of the boat.
Interesting comment on HATS selling for more on the west coast, that has not been my experience. A53 MY with a very well done 7 foot cockpit extension just sold in Marina Del Rey for under $150,000, heck when we looked into adding a cockpit to ours it was going to cost about that for the extension alone granted ours was a fixer but it had great motors and no major problems except cosmetics and we got it in San Francisco for way under $100,000 in fact way under $ 75,000. So I guess there are deals everywhere, especially when all the Hollywood types want shinny new boats to show off to there friends. John
I think you are assuming that when someone invests, for example, 200K in refitting or improving their boat, it makes it worth 200K more. That is not the case. This is true for several reasons:
-tastes vary and what one owner likes, the next may not. And the next will not be willing to pay dollar for dollar on the refit that was done even if he or she likes it.
-what a boat sells for is determined by what a seller will offer and a buyer will accept. There is no book of values for these older boats. The buyer and seller determine the sale price.
-boats tend to sell for more money when financing is easily available. That is not the case now, although it may be improving a bit. So that diminishes the pool of qualified buyers, since it restricts sale to cash transactions, which lowers sale prices.
The criticisms voiced here are not unfair or malignant. They are useful as evaluations of what was done with a boat after someone bought it and decided to change things. And just because someone spends a lot on refitting a boat doesn't mean 1) that they got their money's worth and 2) that they chose wisely when deciding what to change and how to change it.
I have not seen any remarks or criticisms recently that I thought were unfair at all. If you think I've missed something of that nature, bring it to my attention.
It looks very nice and I love the glossy interior as well as the galley Look alike they used top end appliances so there is a lot of money in the galley alone, I m guessing 20/25k. Add another $20k to refinish the interior (two months of work) plus various carpentry upgrades like the FB. Being a so cal boat I bet the work was done in mehico, not at $90 us yard labor. Again nothing wrong with that
Problem is that no matter how nice it looks you still have 40 year old wiring, thru hulls and god knows what's left lurking in there Maybe I m wrong and I don't mean to trash the boat, it s just that from experience I know there is lot more important things than shinny paint, fancy appliances and glossy bright work
I have a plastic tub full of receipts from the last two owners. One spent $750,000; they even advertised that number in their sales brochure. The immediate PO dropped $260,000. Now they did a great job updating a 1983 boat. That million bucks resulted in a $300,000 listing in 2015 and an eventual nearly 50% discounted sale. But I'm sure they loved that boat. Somewhere I've got a picture I took of a brick veneered single wide mobile home. Drove two miles back because I just couldn't believe what I had seen. That it was important to them is what counts. The next owners will get a deal-on the brick anyway.
Excellent post Robert. I am planning on having a some work done on my 1982 48 MY this fall which will include complete paint, engine room detailing/paint, new hoses/clamps and a whole laundry list of projects on it. I don't really know how much all this will cost, but I do know that I will not recover my investment. At 80 years young, I realize I don't have many more years of boating left in me but, I think I will derive a great deal of pleasure from my re done 48. Probably one of the worst investments that I will make as far as money is concerned, but IMO a sound investment in my (hopefully) few more years of pleasure with it. This subject has been discussed on this forum many times and I feel we're beating a dead horse but I feel strongly that if someone is looking for a return on investment he/she should consider the stock market or some commercial real estate. The ROI on a boat is not in dollars but in pleasure, wether it's fishing, cruising or just using it as a condo on the water. As I stated in an earlier post on this thread, I think the 53 MY in CA looks great and has had a good bit of work done on her. We don't know anything about the guts such as wiring, plumbing, engines, generator or air conditioning, all or any of which can cost a bunch of boat bucks. In closing, I think that at least in the pictures, it's a really nice looking boat and as such will be a great dock queen. Depending on everything under the skin it may or may not be a good deal.
Walt
BTW Scott, You're right about California being a land of fruits and nuts (for the most part), but I like to equate it to a breakfast cereal....take away the fruits and nuts and all you have left are the flakes.
What Walt meant to say was that members of this forum having the misfortune of residing in California excepted. Maybe...
All kinds of flakes.
The market for a nice turn key vintage Hatteras is a lot stronger than you think. The 53 mentioned has had a lot of work done and in my opinion people are willing to pay for something they do not have to refurbish or redo completely immediately.
We have two backup offers at the moment, however this sale should go through in the next few days and someone will be the proud new owner of a bristol 1984 56 Hatteras.
You guys are just jealous of us who get the great fortune to live in so cal and pay $1600.00 a month for a slip, but we don't have bugs and we don't have to use air conditioning. John
I don't have a lot of bugs but we need air conditioning most of the time. Then again being out on the water I don't need it as I'm I and out of the river or ocean.
Bugs are prevalent near land thats swampy so I head out away from those areas.
Good things about living in Florida.
1) Water is plentiful.
2) Weather is always changing.
3) Alligators are plentiful.
4) stray cats and illegal aliens see #3.
5) Taxes are reasonable.
6) No pelosi.
Can't argue with the last one, John
Photoshop and fancy photography can make a turd look amazing. I'm sure the boat is very nice, but it's obvious those photos have been plenty of "makeup"....just like that purdy lady at the bar after a few drinks in.
Hatts are more expensive on the west coast than the east coast. They're not as plentiful and there is the "value added" aspect of shipping them here.
This is true of any east coast boat.
I'm experiencing the opposite problem. There's one in Southern Cali. I think I would have already bought it if it were east. One quote was for 50k. It might be a bit cheaper if I worked it....but not near enough....so there's just too much there. Somebody's gotta pay it...and it makes a good deal for both....not so much for either.
Handsome 53
If truly as nice as described? Worth every penny.
No...I'm sorry....the quoted cost of getting the boat from S. Cali. to Florida was 40 grand (I did say 50....because that's what it would end up being...in my thinking).
I'm sorry for the confusion in my post. I can see how it could be read the way it was read by you (and possibly others). (I think you are referring to my post and not luckydave's)
It's a 70' Hatt that can be bought what I consider "right". But not right enough pay for moving it east. It's a deal that I've yet to find on the east coast. If the boat were already here...I'd probably buy it. that was in response to sentiment that boats are cheaper east than west. Maybe they are in general...but, as per par for the course...the one i'm interested in was not.....at least so far....
Where was the 70 that you looked at? There is a 70 cockpit in San Diego that is nice and can be bought for a lot less than asking. If you are interested PM me I have been aboard it. John
Friends of mine just looked at that 53 in Marina Del Rey and said that it is even better in person than in the photos. Owner is super rich and does maintenance on things that don't even need doing. He turned down an offer for $285,000, countered with $ 330,000. I guess it has really bad blisters that have not been fixed yet. John
Hard to believe but there is a deal pending on this boat, would like to know how much. John
I know I have. Really, really upsets the wife. (That is half the fun)Enjoy your Saturday. Tim
Glad to hear she has a deal pending...hopefully for a price that truly reflects the pride of her ownership. If blisters are the only issue, there really isn't an issue in this particular case...not if the rest of the boat is that truly pristine. EVERY CASE IS DIFFERENT. An older boats value is directly linked to it's actual condition. Physical and Cosmetic. To say the nicest 53 in the world is only worth $250,000 is ludicrous. As new boat prices have risen faster than prescription drugs, the whole market has changed in the past 5 years regarding the "nicest boat out there", (which is where the real "value" is). Back in 2013, I sold the most exceptional all original under cover since new 900 hour 58 Yacht Fish in existence for $260,000. While it was a huge loss to my total investment, it still tied the highest price paid for a vintage Hatteras 53 or 58 at the time. I would consider that same boat in the same condition today would easily be a 'steal' at $300,000 in the current market... VS a nasty example that needs $1Million plus to restore... VS a comparable new boat that's hovering well above the $3Million mark today...VS a newer non Hatteras for under $500,000.
I just went through this adventure with friend of mine who is a marina owner in addition to being a knowledgeable boat owner. We looked at 34 different boats from Florida to Minnesota. Only 2 were in a 'condition' worth buying by our standards. I just got back from helping bring the nicest boat home. 2600 miles from Chicago to Florida (the long way). She preformed flawlessly. Until you actually go aboard a hundred different boats, can you really make a comparison?
Paul, what boat did your friend purchase? Sounds like a fabulous trip.
It's easy to spend a mil on a real update and modernization.
I'd bet a set of engines and such will run $250k with gears and controls and shafts and props....
Add to that the interior work as these old boats need modernizing. Paint and electronics at today's current levels and your easily there.
I just did an electronics upgrade for almost $50k. If he would have put an hd dish on her the cost would have been closer to $75k.
Add a new david and modern stabilizers and your almost at another 6 figures.