Off to look at another 53MY...Here's hoping!

[mikep996]

Well, next Tuesday the Admiral and I are scheduled to look at another 53MY. It is allegedly a "10+ mechanically" and a "7 or 8 cosmetically." According to the broker, it's owned by a DD supervisory mechanic so all mechanical systems are, "better than brand new."

Of course, I am quite expecting to find somewhat less hyperbole and somewhat more reality when we see the boat in person. It is missing two of the major items we decided we HAD to have, a dinghy davit and stabilizers. Oh well, as we all know, boats are a compromise. From what I can find so far, an appropriate davit would run in the $7-8000 range, not including installation (which I'd do myself anyway).

The cosmetics are (again, according to the broker) lacking primarily because it needs new carpets and the brightwork needs to be refinished. He says the boat was recently (but didn't exactly know when) Imron-ed. New bottom paint was applied this year.

We don't care at all about the carpet/interior because we would likely redo it all anyway...one boat we looked at a few months ago had as a selling point, "Brand new carpet!" Unfortunately, it was a bright almost pinkish color that evoked immediate hatred! And of course, the brightwork is no big deal as long as it's all there and only needs refinishing.

Oh well, even if it turns out to be unsatisfactory, it will be interesting - only about 2 hours drive from home.

[PascalG]

good luck... worth looking at no mattr what , what year is it?

most 53 have a davit on top, in ads I only came accross one where the seating area on the bridge had been extended all the way to the back...

carpets are not even a consideration, it's cheap anyway.. the main thing on the interiors are headliners and veneer... the wood is one of nice things about these boats, can't understand how some could have been painted inside!


"recently (but didn't exactly know when) Imron-ed" oh oh... covering hsi behind there... :-) that could be why it's cosmetically a 7. brightwork alone can't be the reason.. it's no big deal to refinish the wood and makes a huge first impression difference...

good luck...

pascal
70 53MY

[mikep]

Pascal,

It's a 1974 (8V71TIs) located on the Hudson River (Freshwater boat!!!) about 40-50 miles N of NYC. Of course, I don't know if it really is a freshwater boat or if it just happens to be there right now.

I'll let you know how it goes...I have my fingers crossed.

[jim rosenthal]

Good luck. Putting a new interior in a boat is the cheapest thing we all do with them, even on a big boat like a 53MY. As long as you keep the professional yacht interior folks off your boat, it is quite affordable. Having all the brightwork done is not cheap or quick, and they have a lot of it. If it really looks bad (and my experience is that anything the broker tells you looks bad will REALLY look bad, they don't want you to be surprised) maybe you can get the price reduced accordingly. and don't use any surveyors that they recommend.

[dshuman]

Get the surveyor to look for MARINE growth traces. He'll know where. They can tell freshwater from partially saltwater easily.

[mikeP]

Ah yes...

Although the boat had new hull/bottom paint, trued/balanced props, and all new cutlass bearings, the "10+" mechanicals were what I'd call MAYBE a 6.

Additionally the original owner had covered nearly all the beautiful mahogany interior with smoked-mirror glass, including the hanging closet doors and all horizontal cabinet and shelf tops). It looked like a refugee from the 70's disco wars. Removing the mirror glass from the wood and then trying to restore the wood is a project I am not willing to undertake. All wood below every port suffered considerable water damage.

All A/C units were extremely rusted; wiring everywhere was from the school of advanced rats-nest building - lots of mods with no labels and loose wires everywhere. None of the heads were working.

The seller said it's in great operational shape - been back and forth from New York to Florida 3 times in the past several years. Maybe so, but not with me in it.

None of it is unfixable but I've seen better for less asking money and a LOT less time needed to put it like I want it.

We'll keep looking.

[Jackman]

Sorry to hear your news....you'll find one!

[jkp1]

Why is it that brokers can't be straight with us?

Last year I flew my father & I down to Charleston SC to check out a "completely reconditioned" 1981 37C. I was assured by the broker it needed nothing but new isenglass and a few updated electronics. What I found was a clapped out boat with a new coat of varnish on the interior.

I spent over $1000 and 2 days on that goose chase. The broker didn't even accompany me on the on the inspection.

The best we can do is to name names and not do business with such firms. My mis-adventure was with Quay Associates out of North Carolina.

[divernc]

Last year, I too experienced the time and $$$ loss of looking at "dogs". I found that serious brokers representing their boats fairly were more than willing to email a deck of digital pics. Those that couldn't or wouldn't, I passed on their boats.

[mikep996]

I have to admit that I liked the broker personally - he didn't apply any pressure at all. I spoke to him today about the boat, advising him that we weren't interested and we discussed the "10+" rating. He told me that he was passing on the declaration of the owner of how well everything was cared for. He (broker) lives/works in NJ while the boat was on the Hudson North of NYC and he had not actually seen it.

We then discussed the concept of a "10." His view is that it has to be adjusted to the age of the boat. In other words, a 30 year old boat's "10" cannot be expected to look like a 2 year old boat's "10." I don't agree - my view is that it is not adjustable at all. Certainly the actual equipment on the old boat may different brand/model equipment than the new boat but if both are a 10, both should look and work like they just came out of the box. Again, the new one may be more efficient or whatever because of design improvements but that should be the only difference.

If it doesn't meet those standards, don't call it a 10.

If he hadn't told me it was a 10+, I probably wouldn't have been so put off because I wouldn't have expected so much. It looked better than some Hats we've looked at but not as nice as others. The one that I really wanted to buy last year (but I had no slip) had an asking price $40,000 lower and was in nice condition - a real loss to us, unfortunately.

Brokers are, after all, SALESmen (or women).

[jkp1]

Salespeople first. But there's a big difference between going to your local used car lot and being disappointed with that "cream-puff Chevy" and flying halfway around the country to see a six figure plus Hatteras. Many brokers do not seem to care about misrepresenting inventory, even at great cost and inconvenience to the buyer.

My Charleston weekend was not my only disappointment, just the worst. Other brokers with boats within a few hours drive also sugar coated maintenance deferred vessels.

Until there is some incentive (or pain) to encourage brokers to be honest, things will likely remain unchanged. Previous post suggested getting a deck of photo's. That's a good idea. Also asking lots of questions before purchasing airfare makes sense. If I had it to do over, I probably would have contacted another broker in the Charleston Area to check it out before I went. His incentive would be a split commission if there were a sale, but a second opinion would have been helpful.

Mike, hang in there and keep looking. Frustrating as it was, I did eventually buy a boat I'm happy with.

[PascalG]

I can't imagine buying a 53 with smoked mirrors everywhere... yikes... the wood is an important part of these boats...

I agree with you, don't call it a 10 if it not... no adjustemnt for age... mechanically, there is nothing sujective... it works and show no sign of impending failure or it doesn't. if the A/Cs are rusted, the heads don't work... it's not a 10.

cosmetically, it's harder to judge but again... a 10 will a boat with new or near perfect paint, good brightwork, new or very recent canvas, etc...

if he never saw the boat, he should have made this clear but again, this kind of attitude is not a surprise...

there is a nice 73 in Ft Lauderdale, listed on YW at 239k. I saw it last year but when I called back to make an offer, it was under contract. I guess it didn't go thru although I woudl wonder why it is still for sale 9 months later. Interior was nice (wood finished with glossy varnish), new galley, new genset, recently rebuild engines (with paperwork) but no staiblizers. electronics dated but that's no big deal.

[mikep996]

Pascal,

Think I'll call the Ft Lauderdale broker re the boat you mentioned. I had seen it on YW and we have been talking about looking at some in FL. Heck, maybe I'll have David Pascoe survey it...that should scare the heck out of them!

It's an interesting, but frustrating search...

[jim rosenthal]

You might try Eric at Bayport Yachts here in the Kent Island area....(Maryland) if Chesapeake Bay is within your looking area. There are a few nice shed-kept 53 MYs here and generally some are for sale. He will give you the straight shoot on boats, from my experience.
Note that I am NOT a principal or owner in Bayport Yachts, they are friends of mine and I do not work for them.
It is indeed a shame that you got misled...decoration is always a matter of opinion (someone someplace must like smoked mirrors, I suppose) but mechanicals are either good or they are not. The broker should not have taken the owner's word for the condition of the yacht, he should have previewed the boat in person, or at the very least gotten a video to you of the boat, one made recently. Taking the owner's word does not constitute due diligence in my book.

[PascalG]

Mike, if you get positive info from the broker and get serious about the boat, I'll be glad to take a look and take some digitals before you spend money on a trip or survey... after almost a year of ownership.. i learned a lot...

it was actaully my first choice...although the one I got was a close 2nd... missed it by a few days I think.. i wanted to wait till closing on a condo befoe making an offer

pascal

[spartonboat1]

If you are looking at 53's, there is a very nice 58 YF at Toledo Beach West in Grand Haven Mich...been there a year or so in the low 300's, high 200's. Saw exterior in person and looked good...all I know...

[mikep996]

You guys are great; we really appreciate the help and the offers to assist. The Admiral's working in Wash DC now - she commutes down there on Monday's, back here on Friday's. So after we make contact with Eric, she'll take a "first" look at what's available in the MD area.

She's pretty knowledgeable and I'm confident that if she is comfortable with a boat, I probably will be. Although she's no mechanic, she knows what well-cared-for looks like. At least if she thinks it's OK, it's worth looking at.