Question on older 53 MY

[mkrauth]

I'm looking at buying a 1970 53 MY. I can't post the link because I'm new to the Forum but google 1970 Matt 53 in Minnesota for $170k.

I've looked the boat over thoroughly and it's incredible. I'm new to Hatts but have had yachts for 13 years. My question is, what should I be nervous about in owning this boat? I know about the blistering issues and oil leak/burn on Detroits but neither are an issue on this boat. The engines have 3700 hours but my friend knows the previous two owners and know that they were meticulously maintained, ran frequently, and ran very easy.
I have an insurance survey from this year and they pretty found no issues and consider it "Above Average"
The pride in ownership in this thing is obvious...

So...what should hold me back??

Thanks in advance!

[SEVEN]

That 53 is absolutely beautiful. Pride of ownership is definitely a parent. As long as you get good engine surveys and you don’t have any soft spots on the deck or the flybridge. It sounds like a wonderful deal.

[trogers]

hmmmm isn't asking a bunch of boat owners what should hold you back from buying a boat the very epitome of confirmation bias?

Pleaser note that I absolutely did not make any bad analogies to Philadelphia's Kensington neighborhood and advice on drug use.

That would have been in bad taste.

[Bob Quinn]

The only thing holding you back should be the desire to have the regret of "oh crap I didn't know how hard it is to find a good one, and someone snatched it out from under me." I looked at dozens "on line" and probably a dozen in person. That there is a rare bird. If you like it you better buy it.

[mkrauth]

The only thing holding you back should be the desire to have the regret of "oh crap I didn't know how hard it is to find a good one, and someone snatched it out from under me." I looked at dozens "on line" and probably a dozen in person. That there is a rare bird. If you like it you better buy it.

It's even better in person! The recent survey on it found literally no issues. What really sucks is the only thing holding me back no is the fact that 1) there's only one spot in my marina that can house a boat this size and it's terrible spot. 2) There's also a decent chance my marina will be closing in the next 2 years and the next closest marina that can house a boat this size is about 25 min further from my home(I'm already 50 miles away) and about $7k per year more with a 3 year wait list. So my dilemma is no longer boat but BS logistical crap that, unfortunately, gets in the way sometimes.
But my gut tells me to say "Screw it! We'll figure it out down the road!"

[mkrauth]

hmmmm isn't asking a bunch of boat owners what should hold you back from buying a boat the very epitome of confirmation bias?

Pleaser note that I absolutely did not make any bad analogies to Philadelphia's Kensington neighborhood and advice on drug use.

That would have been in bad taste.

You're not wrong. I'm looking for equal parts advice on the issues of a 53 year old boat in this condition as well as folks to tell me "Just buy the damn thing already" so I stop procrastinating! Haha!

[Bob Quinn]

I didn't have a place to keep ours either when we bought her. I bought her in I think the beginning of October and it was already in winter storage for the year. For spring though I hadn't a clue.
I spent days calling around and getting put on wait lists. We are on Lake St. Clair in Michigan.

So yeah, having a place to keep it is important and you might be taking a chance on that.

Where is your current Marina? Not that I can help, just curious. Maybe someone will have a lead on a slip.

[Jims43DC]

It's even better in person! The recent survey on it found literally no issues. What really sucks is the only thing holding me back no is the fact that 1) there's only one spot in my marina that can house a boat this size and it's terrible spot. 2) There's also a decent chance my marina will be closing in the next 2 years and the next closest marina that can house a boat this size is about 25 min further from my home(I'm already 50 miles away) and about $7k per year more with a 3 year wait list. So my dilemma is no longer boat but BS logistical crap that, unfortunately, gets in the way sometimes.But my gut tells me to say "Screw it! We'll figure it out down the road!"

We slip 3 hours from home. Spend 5.5 days a week on the boat on average... not ideal but very doable..

[SKYCHENEY]

My boat is typically docked 2 hours from home. For the past month and a half, its been over 3 hours away. Don't let that stop you.

[cww]

The truly nice 53's sell quickly, by the time you circle back around to it after mulling it over for a week or two it's going to be under contract to someone else. I lost three 53's before I finally bought the one that I got. I even had people trying to snipe me out on this one, another guy offered him more money to break my contract, the only reason I got the boat was the seller was an older retired ship captain who his word actually meant something to him, he hung up on him. The market has cooled a little since then, but not a lot. If you really like the boat, you're playing with fire by not putting it under contract while you make your mind up.