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  1. #11

    Re: An interesting 53 Classic

    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.
    Scott
    41C117 "Hattatude"
    Port Canaveral Florida.


    Marine Electronics and Electrical Products Distributor.

  2. #12

    Re: An interesting 53 Classic

    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.

  3. #13

    Re: An interesting 53 Classic

    Quote Originally Posted by rourkeh View Post
    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.

  4. #14

    Re: An interesting 53 Classic

    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
    Mahalo V
    1974 53 Motoryacht
    Hull Number 406
    San Diego, Ca. Ready 32 Nordic Tug, Brunswick Ga.

  5. #15

    Re: An interesting 53 Classic

    Quote Originally Posted by rourkeh View Post
    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 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.

  6. #16

    Re: An interesting 53 Classic

    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
    Pascal
    Miami, FL
    1970 53 MY #325 Cummins 6CTAs
    2014 26' gaff rigged sloop
    2007 Sandbarhopper 13
    12' Westphal Cat boat

  7. #17

    Re: An interesting 53 Classic

    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.
    Semper Siesta
    Robert Clarkson
    ASLAN, 1983 55C #343
    Charleston, SC

  8. #18

    Re: An interesting 53 Classic

    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.

  9. #19

    Re: An interesting 53 Classic

    What Walt meant to say was that members of this forum having the misfortune of residing in California excepted. Maybe...
    Semper Siesta
    Robert Clarkson
    ASLAN, 1983 55C #343
    Charleston, SC

  10. #20

    Re: An interesting 53 Classic

    All kinds of flakes.
    Attached Images
    Scott
    41C117 "Hattatude"
    Port Canaveral Florida.


    Marine Electronics and Electrical Products Distributor.

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