Midsize Hatteras Motor Yacht Bargains

[pizzazsdaddy]

For those seeking a bargain on a mid size Hatteras Motor Yacht, I've noticed several possble bargains suddenly emerging this week...

The first one is the 1977 model 53 Classic in Daytona Beach named SARAH LYNN. Broker says the boat is nice. Owner has just reduced his price to $139,000ASK! AND Anxious for reasonable offers! It might be worth a look-see for serious 53 shoppers! A bargain IF the boat is nice.

Another boat that might be a potential buy for somebody is a 1990 Hatteras 54 Extended Deckhouse model named SINUS RHYTHM. 2800 hrs on 892s. Owner Anxious to sell too. just reduced to $239,000.ASK with serious offers encouraged! This is the 4SR model with the galley up but no aft deck. Wierd Layout, but alot of Hatteras for the money.

The 3rd boat I find interresting right now is the 1981 56 Hatteras Motor Yacht named PEACE IV. 2800 hrs since majors reported. This is the 18'2" wide beam walk-around model identical to the wide beam 58. Reportedly nice. In Lighthouse Point FL and just reduced to $249,000ASK...also seeking must sell offers! This could end up being a real steal for someone.

I've also noticed several early 90s model 52 Hatteras Cockpit Motor Yachts now teetering close to the $199,000 mark and less. One is a 1991 repowered with 2009 Cummins QSM 11s down to $229,000 ASK. These 52s aren't bringing any money at all these days. I think it's the downstairs living room that hurts this model.

For those of you playing along...I see the 58 Hatteras Yacht Fish named ANDIAMO (The blue boat) finally has a deal pending. The 58 Yacht Fish in Charleston that HAD a deal pending is now deal-off and back on the market. The rough 58 Yacht Fish in Miami is also now sold. My 58 Yacht Fish PIZZAZ has had a couple of "wouldya-takes" but no legit offer with a contract and deposit yet.

That makes 4 Hatteras 53s either sold or under contract in the past 30 days. 3 58' Yacht Fish, 2 54 Classics under contract even including that questionable one in Weehawken NJ. 2 52s have also just been sold recently. There's also a sale pending on another 56 Motor Yacht down in Coral Gables...and a pair of 61s under contract too!

Wow that's alot of activity! Spring has Sprung...but the prices are still falling. I can understand having to give away a Jefferson or a Bestway or similar junk...but a Hatteras??? There is something way wrong with this picture!

[SeaEric]

The 54 ED Sinus Rhythm was for sale a long time in Annapolis some time back and didn't sell. Her interior woodwork and wall-coverings have been painted over. IMO it's not a well executed paint job. She was likely the white pickled finish when new. The mirrors and purple sofas are a bit much. If you like that sort of decor, she may be your boat.

The 52 CPMY model is IMO one of the most comfortable MY's in that size range. She has lots of good amenities like a HUGE aft deck, and of course the cockpit. The master SR in the 3 SR layout can effectively have access to 2 heads and showers. Forward guest is large with a CL queen berth and its own private head/shower. They burn huge huge amounts of fuel if you want the 8v92's to run the boat at a brisk cruise. The Cummins re-powered model would be a nice buy. With the 892 power it would be hard to imagine a selling price over $200K. IMO what hurts the 52 the most is the design profile. It hurts my eyes. But I do like (most of) the function.

Nice boats are selling. I think prices may be stabilizing. There is still NO market for junk, and little market for anything that even approaches "project" status. Its my recent observation that if the buyer notices even a few discrepancies - project status is quickly achieved.

[jim rosenthal]

Former property of a color-blind cardiologist, no doubt... (Sinus Rhythm)

Interesting mini-market survey..... things are improving, it seems.

[Artzco]

Some interesting observations. My wife and I specifically searched for the 52 CPMY as we wanted the layout and having a cockpit. It took a while to find one with stabilizers and thruster and in good condition. Several of those listed on Yachtworld have been there a long time and one that is listed for $199k is rough. It had a blown engine and they replaced the engine and increased the price $85k. It is in rough condition and the posted pictures are several years old and don't represent the boat. We wasted time in even looking at it. The 52s in poor condition are bringing low prices, but one that we considered sold for over $300k.

We got a great deal because the "captain" overheated the starboard engine the day before engine survey, ingested water through a cracked manifold and required a rebuild. The owner accepted our new offer that was ridiculously low. Now a little over a year later and our renovations, we have almost a new boat. And we love the look of the exterior plus all the room inside.

I think Hatteras in good condition and fair asking prices will slowly build back in prices. Junk will stay junk.

[pizzazsdaddy]

If you say a real correct 52 sold for $300,000. It only furthers my point of price vs. value. The rough ones can't be sold for half that amount and will deteriorate to garbage. When is a bargain not a bargain? $199,000 might sound like a steal...but is it?

I agree that even marginal condition boats have now become worthless regardless of price. Yet, half of this Springs sales so far, are for the boats that have seen better days at what the buyers only "think" is a bargain.

The only real bargain out there, is when you pay a fair price for the nicest boat. If I'm the buyer, the nicest boat should always come first shouldn't it? Regardless of which Hatteras model you prefer, If you can't hamer out a deal to buy the nicest one from the start, you'll never be able to afford the fixer upper at any price.

A complete and correctly updated restoration on a classic Hatteras 53, now takes one year, and about $600,000 at a competent boat yard. If you are a new boat buyer who doesn't want to spend $3Million. It's so cool to own an updated "classic" that's been made new again...while recycling at the same time...not to mention saving a few American jobs while you're at it. A win-win for everyone.

If you think you can do it yourself for less, you can, but you'll become emotionally and financially broke in the process. While the guy who bought the nice boat to start with is out there on the water enjoying it.

[saltshaker]

There's still a wide gap in the market and the sale prices don't always make sense. As for the 52MY and 52CPMY, this one was 2 slips from me and in exceptional condition, a true 10+. I know the captain who took care of her for the owner. Not sure what she's under contract for but she hasn't been on the market very long.
http://www.yachtworld.com/core/listi...g_id=3024&url=
This is the repowered one that sounds like a fantastic boat with a ton of desireable upgrades. Price seems good yet she still hasn't sold.
http://www.yachtworld.com/core/listi..._id=78677&url=
There was a very nice one that just went for under 200K. The ask was 199K. Not sure what she sold for but she either closed in the last week or so or hasn't closed yet. She had low hours on recent majors. I believe the one referred to that just sold for just over 300K is not a typical 52CPMY. That boat was extremely custom with a gorgeous hard aft enclosure, custom enclosed bridge and complete custom interior with new heads, galley, teak and holly through out etc.
Then there's this one that just came on the market and is reported to be in fantastic condition. The cockpit extension adds a whole new dimension to this boat.
http://www.yachtworld.com/core/listi..._id=76505&url=

[Artzco]

Jack, that last one is highly customized and changed. Seems they wanted a 52 CPMY Yachtfish. Not bad though. This style boat needs stabilizers for a comfortable ride when rolling or choppy and that is why I looked long and hard. Very few have been on the market with them and a thruster. After spending a year looking, the pictures can be really deceiving.

[saltshaker]

Jack, that last one is highly customized and changed. Seems they wanted a 52 CPMY Yachtfish. Not bad though. This style boat needs stabilizers for a comfortable ride when rolling or choppy and that is why I looked long and hard. Very few have been on the market with them and a thruster. After spending a year looking, the pictures can be really deceiving.

I have a friend who's looking for a 3 stateroom 52CPMY and he's come to the conclusion that he'll be adding stabilizers and a bow thruster. Pictures rarely accurately represent these boats but the ones posted have either been seen in person or by a trusted individual.

[oldawg]

Interesting commentary. I currently own a 52SD and previously owned a 58YF. I suppose a thruster and stabilizers would be nice but it sort of depends on how you use the boat. From my experience to date, the 52 is a superior hull to the typical 15' 10" hulls but we are seldom offshore so the stabs are a non-issue. A bow thruster would be nice but, again, with the big wheels/reduction gears the 52 really is not a bad animal in the harbor. Our "must have" is a nice davit (which I added at a hefty price after purchase). I also like the Cat engines my boat has (3406E) but in reality I am not sure they are really better than the Detroits the way we use our boat.

Like Eric I originally didn't like the look of the 52. Many of the 90's vintage boats have the ash/pink interior and I think that is unacceptable to a big segment of the market. I finally realized I can't see the boat while I'm using it and, with a few exceptions, the boat is very functional.

When I was looking, I was intrigued by the 54. Wider, shallower draft, and a bit of updated form of the 53 classic. I would love to hear from some owners of th 54 for their opinion.

I have somewhat of a gift for the obvious but anyone looking should buy the smallest, newest,best-kept boat you can find that will fit your needs and budget.

[pizzazsdaddy]

Hi Lucky Dawg-

I personally love the 54 Classic model. Same great functional layout as the 53 but so much bigger and open feeling inside. The crisp styling makes the 54 Hatteras Motor Yacht still look modern today. I came real close to buying one, until my 58 yacht fish became available. I have some back issues from a previous helicopter crash, and the 58 yacht fish provided better access to the swim platform and flybridge. I think a cockpit or euro-transom is a near necessity these days, especially once your body gets a few miles on it.