Quoted above are the things that would concern me the most and will have to be dealt with some day. The survey is also over one year old and things only get worse with time, especially rotting core. To fix the rotting core correctly in the hardtop, the flybridge has to be removed. You easily could be looking at over $50k for just that one fix. Is that something that you are ready to deal with?
My gut tells me it is an $80-$100k boat at the most. If you start deducting for fixes found during the survey, you might wind up with a negative value. I doubt the owner is going to pay money for someone to buy it, he would probably laugh at a $100k offer. The big question is how badly do you want to go boating with this boat? There isn't a thing wrong with over paying for it and spending a lot of money to make her right as long as you know what you are getting yourself into and accept the fact that you will still have a boat that might bring $80-100k when you decide to sell it.
My opinion only. I could be wrong.
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03-02-2015 09:14 PM #11
Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
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Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
I think you ought to keep looking and find a boat in better shape, unless the current owner decides to open his eyes and wake up. This sounds like a 60-70K vessel on a GOOD day, to me.
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03-02-2015 11:31 PM #13
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Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
Thank you all for the info. Would anyone here have access to what Hatteras 53' MYs have been selling for in the West Coast?
I don't know local brokers well enough, and they give me the run around of the latest sales. Like if they have no way of finding out. I know they have a computer system where they have that database, plus the famous "book". I just don't have access to it.
If, and when I do make an offer, I don't want to just place an embarrassingly low offer. I've never been one to take advantage of others. I just want to make a fair offer for the value. If the fair value is low, then that's what it is. This would also help me if I keep looking for other Hatteras MYs. That is pretty much the layout and boat type that I like.
Douglas
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03-03-2015 12:02 AM #14
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Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
Any broker can pull that data for you from sold boats but the data is suspect at best. In addition, there are very few of these boats that sell or are for sale on the west coast. I am going through the process on a 52 and there are 4 for sale on the entire west coast, been on 3 of them. Only a couple have sold in the last few years and i dont think that is very helpful trying to figure "comps".
(formerly Nor'easter 1995 39 Hatt SX)
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Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
Is this the 53 in Alameda? Call me I have info on it. I was trying to buy it myself. 650-619-2308. Rusty
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03-03-2015 01:31 AM #16
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Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
Hi Rusty,
Thanks for taking my call and clearing some of my doubts. Yes, it is the one in Alameda.
I'm expecting a call from the broker, tomorrow, and I'll see what other info I can get from him.
Douglas
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Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
Heads up...a vessel of that age with remarks of moisture and corrosion at base of windlass screams to me of, beyond the obvious, bonding issues. With bad bonding the first thing to go is the AC system, and that gets expensive very quickly. Look very closely with a trained and intelligent eye.
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Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
There IS a database called "Sold Boats", and brokers access it by subscription, but the data in "sold boats" can be off for several reasons- inaccurate reporting, too few numbers, or trade deals which make the numbers inaccurate. For models that have a lot of hulls out there and that sell quickly, I think it is helpful. For 1980s 53 MYs on the West Coast, maybe not so much. But better than nothing if you can find it.
It might be worth trying to approach this a little differently- see if you can find a broker who will give you selling prices on boats of that kind that closed all over the USA and see if there are enough numbers there to make a meaningful data set. Perhaps you don't have to correct for the West Coast at all.
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03-03-2015 02:35 PM #19
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Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
Back in the day we flew up from San Diego to look at a 53 Hatt that this guy Boland had listed. It was a total disaster and he totally misrepresented the boat. I would look for a boat listed with another broker if possible. The same 53 is now in San Diego and looks worse than it did a few years ago. Look carefully at the pictures and then the description. One head has a Raritan crown head, another has a PH II Raritan with an electric motor. He described them as toilets (another red flag) of a totally different manufacturer. Also any time you see that much overspray on engine hoses and that much corrosion in an engine room, multiply problems down there times ten. And that's just the engine room. No pictures of the generator room either. I would guess it's even worse. My two cents worth is walk away from this one.....Ross
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Re: How accurate is NADA boat value on a 1970 53' Motor Yacht
According to "Sold Boats" on Yachtworld. I ran a search for you, from 1/1/2012 Thru 04/2015. There have been 88, 53 Hatteras Sold between the ages of 1969 and 1990. Of those sold,,12 of either the 53MY or 53YF have been sold in California. Here's the list
Ask Sold Name
1978 199.500 179,500 No Name
1985 229,000 200,000 No Name
1977 199,000 150,000 No Name
1980 139,000 115,000 CA VA Bien
1977 99,000 85,000 Chart Maker
1973 125,00 90,000 Downstream
1973 134,500 114,500 Pacific Journey
1983 219,000 205,000 Lady Hawke
1978 189,900 178,000 Champagne Jam
1979 199,000 171,500 Carlotta II
1988 219,875 190,000 Kelly Anne
1979 189,000 150,000 No Name
As you can see they're all over the board depending on condition. These boat if new are 2 Million Dollar Boats today. Therefore repair costs if you don't do it yourself and don't have the parts are repairs equivalent to a 2 million dollar boat repair if done properly. That's why a boat in nice shape is worth over double a clapped out version. To do a major repair on a tired old girl doesn't make sense sometimes that's why some are so cheap. If you find a nice one, and it's what you want. Pay what it's worth to you. Maintaining a 50+ foot boat cost the same if you spent 200K or 2 Million so dont pinch pennies on the purchase if one is really nice because if you try to save "Money " buying a cheaper boat. You end up spending more to keep it then to buy it. As a matter of fact, even a nice boat, to keep it nice. After a few years of Dockage, Yard Bills, an Engine issue or two, normal Maintenence, Fuel, and a pay check to a captain/mate. If your not hands on and there everyday cleaning and polishing etc. It cost you what you bought the boat for just to keep it. It's not the case when you pay 2 Million for a 53 ft boat but when you pay 200K for a 53 ft Boat the purchase price is your cheapest expense if you want to keep it yacht condition.
We Have a Hatteras 45C and this past year maintenence was very minimal. That being said 2013 we spent just in motor and yard work nearly $30,000. Now this year we're about to do the bottom again and replace the tower, half tower canvas, and a few misc. other things. It adds up quicker than you think... My point of this is get what you want, pay a fair price and don't try to cut corners buying a boat that's less money but needs a lot of work. You'll end up paying more in he long run.
Hope this helps.
Any broker out there that couldn't take 10 minutes to get you this info or better yet doesn't know how the find it is useless. Not a true Broker that knows what he's doing. Sounds more like a retiree that's bored with nothing to do so decided one day he I like to fich off my John Boat in the lake I should becaome a Yacht broker. Like any profession, there are good brokers and there are total Jokers out there just playing the part.
Tony