Bittersweet day....

[Dave Phipps]

They say the two happiest days in a boat owner's life are the day he buys and the day he sells. Well, maybe it's not that simple....

After over 5 years of owning our Hatteras, a beautiful 1983 53 Classic Motoryacht, we traded her in on a new Cranchi 43 Hard Top. They are two completely opposite boats....one a stately, traditional yacht, with supreme comfort, and the other a thoroughbred Italian express cruiser with IPS drives. Both boats feature quality construction, but are meant for totaly different kinds of boating.

The Cranchi is a mix of an Italian race car, (its helm looks like it's out of a Lamborghini), and a modern, functional layout crafted of high end materials with impressive attention to detail. I've half jokingly referred to her as a floating Italian midlife crisis...which doesn't describe me or my wife, but the boat none the less has a very appealing allure.

But I must admit that there is more than just a little remorse at having let our Hatteras go....she was our second home, a graceful waterfront home that impressed all who had the privilege of being aboard. We may never own another boat as elegant, or comfortable, and we will certainly treasure the memories of our 5 years together!

In case any of you are still looking for a great 53 Classic....she's for sale up in Sister Bay, Wisconsin, and she has many years of fine cruising to give her next owner.

Dave

[SKYCHENEY]

You mean this:





For This:



Right?


I don't know if you remember Jeff from Michigan who looked at Laurentide a few months back. He was on my boat today and we were discussing how nice your galley remodel was. Strange that you would trade her in. Is that the only way you felt you could get out of her in today's market? I know she's been on the market for some time now. Nice boat. Hopefully she'll go to a good home.

[Dave Phipps]

Yup. Hard to believe, huh? And they tell me I'm still sane!

[Dave Phipps]

Tell Jeff hello for me...

I started advertising the boat last spring, and then had an open listing with brokers in the fall. Beleive it or not, there was a steady stream of phone calls and interested parties. Three or four of them were serious buyers, Jeff being one of them, but no one had written a check yet, so rather than wait out this season we decided that it was time for a change. My wife doesn't have as much time off as I do, so in order to go farther on the lakes in less time we needed a faster boat. We also were ready to downsize, having sold our home and moved into a condo, we were ready to do the same with our boat.

The galley was only one feature of our Hatteras that was outstanding; but in general I kept her in well above average condition. Her woodwork was beautiful; nothing was waterstained or painted over; she had great updated electronics, was stabilized, had a new epoxy bottom, a new rebuild on her starboard engine, and an interior with understated elegance.

The market has obviously gotten softer in the last few months, but a boat like this will find a buyer sooner or later.

dave

[Maynard Rupp]

Dave, does the broker have it listed on YW yet? My son sold his 32' Hat in a month. Low asking prices help alot for sure. He was asking 69k and sold it for 63k. The other diesel 32s on YW were up around 100k. That is the way things are today. It seems that the under 200k 53s are selling and the over 200k ones are not. Yours sounded perfect, but I couldn't afford it so I didn't talk to you about the boat.

[Brian Degulis]

Well good luck with your new boat!!! The very best thing about being human is that you can re invent yourself any time you like. Changing channels can be very refreshing.

Brian

[MikeP]

WOW! Talk about a dramatic change in lifestyle!

With any luck, your Hatt will still be available in a few months and you will be able to get her back...

[Dave Phipps]

Maynard,

It's an "interesting" market to be sure. I think there were a few 53's that sold near the 200K mark, but I still believe condition and the seller's motivation have as much to do with pricing as does the general market. There are definately buyers out there who are looking for the opportunity to get into a 53 at prices previously unheard of; but the interesting thing is that having talked to some of these folks, I'm not sure they'd be able to afford the maintenance, operating, and other ownership costs, even if they did buy the boat at an extraordinary price. In other words, there may be buyers who would be able to handle a 200K purchase, but not a 350K purchase, and now find some 53s in their price range.

However, these are big boats, and they will require at least the same $$$ for slips, storage, haulout, and fuel, as a newer 53' boat that might cost 1.3 mil. In addition, they're 20 years old, and they'll potentially require more maintenance than a new boat. Once some of those "buyers" think through that, they back off....and that's one reason why there are still a number of boats at and below the 200K number still on the market.

In addition, those buyers who have looked at my boat have told me that they've looked at an average of 3 or 4 other 53s, some in that 200-225K area and they've all commented on the dismal condition of those boats. One buyer had even made a deposit on a Florida boat and then backed off after a disasterous survey, and was trying to get his money back.

Without exception, all of those who saw my boat were genuinely impressed with her condition, and made many favorable comments. When the dealer who accepted her in trade had her surveyed, the usually critical surveyor commented "if somebody wants a Hatteras, they don't come any nicer than this one."

Some buyers have told me that my boat was just what they were looking for, and specifically stated that my bottom number was reasonable and appropriate, but that they, as business owners, wanted to see where the economy left their business this spring before making the purchase. Someone is going to get a beautiful boat in very nice condition...in any other market, brokers have told me...she would have sold within 60 to 90 days.

At this point she's for sale by her new owner, the dealership where I bought the Cranchi. As an aside, the dealer gave me a fair value for her, and the new Cranchi price was within 5K of the negotiated price on a comparable Tiara. In other words, I don't feel that the new boat price was unreasonably increased to cover a false value on the Hatteras trade.

In the end I hope the new buyer who ends up owning Laurentide will care for her with the same TLC I was privilidged to give her....she'll return the favor in spades!

dave

[Dave Phipps]

Oh, and PS.....I hope that someday when I get the urge, one of you will be kind enough to offer me a ride on your Hatteras!!!

dave

[scokat]

Dave,

That was a geat looking boat. The dealer listed it up from where you last had it. I wonder how low he is willing to go. Anyway congrats on the new boat.