Welcome to the Hatteras Owners Forum & Gallery. Sign Up or Login

Enter partial or full part description to search the Hatteras/Cabo parts catalog (for example: breaker or gauge)
+ Reply to Thread
Page 2 of 9 FirstFirst 1 2 3 4 ... LastLast
Results 11 to 20 of 85
  1. #11

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    Quote Originally Posted by saltshaker View Post
    Thankfully I grew out of the car obsession. I don't think my wife could handle both!
    Me too. You just don't need a car when you're anchored out.
    Sky Cheney
    1985 53EDMY, Hull #CN759, "Rebecca"
    ELYC on White Lake--Montague, MI

  2. #12

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    You guys are all making excellent points.

    0-$50,000 for a real nasty one. $100,000 for an "average" nasty one. (but why???). $150,000-$225,000 for a nicer one. The price hasn't changed.

    What frustrates me, is that when I was shopping for a 58 three years ago, I would have been falling over myself to spend $300,000 for a 58 like PIZZAZ in her current condition. To cruise off into the sunset, with a boat that's physically this turn key??? Wth this much new stuff on it??? We're not talking about a boat that was refit 10 years ago...we're talking about one that was just done last Tuesday.

    It doesn't make sense.

    She was already the nicest 58 anywhere when I paid in the high 100s for her, and then spent another $335,000 (and still counting)...just to make her the "newest" 58 inside-out. I'm less upset about losing $200,000 than I am about not finding a buyer smart enough to see how much value is really here right now.

  3. #13

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    The math on our boats is similar to that of 70s vintage airplanes. They are all $1 million assets to maintain. When the sales market value is 20 percent of replacement cost, we should not expect more than a 20 percent increase in value to our capital investments. The improvements we make are for our consumption and enjoyment. A friend of mine is puzzling over 80k in airplane repairs/improvements that only increase the value by 20k when he gets finished. Life is short, we need to enjoy our blessings. ROI is not one of them. After 2 years I finally have a contract to sell my sailboat for 55 percent of my basis. Just happy to no longer maintain something that goes unused.
    Mal
    Miss Molly
    '85 53ED #750

  4. #14

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    Quote Originally Posted by pizzazsdaddy View Post
    You guys are all making excellent points.

    0-$50,000 for a real nasty one. $100,000 for an "average" nasty one. (but why???). $150,000-$225,000 for a nicer one. The price hasn't changed.

    What frustrates me, is that when I was shopping for a 58 three years ago, I would have been falling over myself to spend $300,000 for a 58 like PIZZAZ in her current condition. To cruise off into the sunset, with a boat that's physically this turn key??? Wth this much new stuff on it??? We're not talking about a boat that was refit 10 years ago...we're talking about one that was just done last Tuesday.

    It doesn't make sense.

    She was already the nicest 58 anywhere when I paid in the high 100s for her, and then spent another $335,000 (and still counting)...just to make her the "newest" 58 inside-out. I'm less upset about losing $200,000 than I am about not finding a buyer smart enough to see how much value is really here right now.
    All of our boats were worth more 3 years ago. The logic you're using is right but you need to look at it from the buyers perspective. Your boat is a deal at the right price because the buyer won't be paying full price for the work that was done. If they were they would just buy one of the cheap ones and do it themselves the way they want it. Bottom line is there is a ceiling and no matter how much you spend on them, once you hit it anything you spend beyond that will have a zero return. If a boat needs majors that deficiency gets deducted from the sale price. If the seller majors the engines it won't increase the value of the boat by the cost of the rebuild. Doesn't seem right but that's the way it is. We expect the boat to be in good cosmetic and mechanical condition. Deficiencies bring the price down. Being in proper working order doesn't bring the price up and being bristol only makes them easier to sell. Buyers are looking for a boat like yours, they just aren't willing to pay you for the work you've done. In all reality, if the boat was as good as you say when you bought her, you'd do well to get the purchase price back 3 years later. I'm not trying to bust em on you, it's just the reality of the current market. There's a member here who's cousin owned a pristine 53 Viking. He poured more money into the boat after the purchase than he got from the sale a few years later. He now has an exceptional 58 Viking that he is selling. Fresh interior, high end new electronics and recent majors that cost almost 300K alone. All done recently and he is well aware that the money he spent on the upgrades will most likely exceed what she sells for. That means he lost all or more of the original purchase price. Same holds true in housing right now. Buyers expect everything to be in perfect updated condition. If not they want a huge discount or will have no interest at all.
    Jack Sardina

  5. #15

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    Quote Originally Posted by pizzazsdaddy View Post

    What frustrates me, is that when I was shopping for a 58 three years ago, I would have been falling over myself to spend $300,000 for a 58 like PIZZAZ in her current condition. To cruise off into the sunset, with a boat that's physically this turn key??? Wth this much new stuff on it??? We're not talking about a boat that was refit 10 years ago...we're talking about one that was just done last Tuesday.

    It doesn't make sense.

    She was already the nicest 58 anywhere when I paid in the high 100s for her, and then spent another $335,000 (and still counting)...just to make her the "newest" 58 inside-out. I'm less upset about losing $200,000 than I am about not finding a buyer smart enough to see how much value is really here right now.
    So many things about the economy around the world just don't make sense!
    e.g:
    1.Oil prices. Yeah I know there are so many explanations which are just GUFF and BS!
    2. I can buy shares in a major bank with a dividend higher than the interest rate I get by depositing my cash in their long term savings account. In other words, there is no confidence in the market.

    It's not YOUR boat Pizzaz or what it has and does not have when it comes down to getting your money out, it's all the other opportunities out there. When you can buy property at half or less than what it was 5 years ago, then why look at a boat? and if you are looking at a boat, then there are younger, fresher boats for $300K available which should be $500K.
    Frustrating is the right word!

  6. #16

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    Quote Originally Posted by Jasper View Post
    ...if you are looking at a boat, then there are younger, fresher boats for $300K available which should be $500K.
    Frustrating is the right word!
    Bingo!
    Jack Sardina

  7. #17

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    Quote Originally Posted by pizzazsdaddy View Post
    You guys are all making excellent points.

    0-$50,000 for a real nasty one. $100,000 for an "average" nasty one. (but why???). $150,000-$225,000 for a nicer one. The price hasn't changed.

    What frustrates me, is that when I was shopping for a 58 three years ago, I would have been falling over myself to spend $300,000 for a 58 like PIZZAZ in her current condition. To cruise off into the sunset, with a boat that's physically this turn key??? Wth this much new stuff on it??? We're not talking about a boat that was refit 10 years ago...we're talking about one that was just done last Tuesday.

    It doesn't make sense.

    She was already the nicest 58 anywhere when I paid in the high 100s for her, and then spent another $335,000 (and still counting)...just to make her the "newest" 58 inside-out. I'm less upset about losing $200,000 than I am about not finding a buyer smart enough to see how much value is really here right now.
    No offense, but do you really think these continued posts about other 58YF's is going to make yours sell for anywhere near what you're asking for it?

    It's almost as bad as BO coming on TV every day telling us that things really aren't as bad as they seem. Both are entertaining in their own way, but it is what it is.
    Randy Register - Kingston, TN
    www.yachtrelocation.com
    www.Safes4Guns.com
    aka Freebird aka Sparky1
    1965 41DC #93

  8. #18

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    Quote Originally Posted by Jasper View Post
    Around 2010 I was deciding between a 58 Yachtfish or a 53 convertible. My last boat was a 60' Pilothouse with a large cockpit so I thought the Yachtfish would be a good replacement.
    There was a 58 YF that was absolutely superb, totally redone and repainted in a creamy white colour with new teak etc. It was easily the best 58 YF available then and if I remember the buyer became a member of HOF. The price was in the mid to late $300K. Maybe Dr. Jim or another member could point us to this boat/member?
    The other great looking boat was in California and was called Cowboy Magic. I made 2 offers and was rejected.
    Luckyily I then found my 53c and am very happy I chose her.
    Your YF looks good Pizzaz, however I do agree that the lack of stabilisers is a big deal.
    Just my opinion.
    FYI, Cowboy Logic is still on the market in the San Francisco Bay area. When we saw her at the end of 2010, she was looking a little rough. If I remember correctly, her asking price was $239,000. The broker was practically begging us to bring him an offer, any offer...
    1978 Yachtfisher 58' #447

  9. #19

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    Quote Originally Posted by kwerges View Post
    FYI, Cowboy Logic is still on the market in the San Francisco Bay area. When we saw her at the end of 2010, she was looking a little rough. If I remember correctly, her asking price was $239,000. The broker was practically begging us to bring him an offer, any offer...
    My highest offer was $190,000 subject to my inspection within 14 days, surveys (engines and boat) and sea trial, with a 10% deposit immediately. I have bought 2 other boats this way in the US before and it is as simple as travelling inter state so long as the right broker is involved.
    The broker would not even forward this onto the owner saying anything under $200,000 would be a no-go. Maybe the broker thought I was an Aussie messing around.
    A few months later, I bought Someday.
    As for looking rough, there is the issue with going by photos. She looked terrific on Yacht World.

  10. #20

    Re: Florida's 58 Hatteras Yacht Fish inspection tour

    The way I see it, is that there are 3 options regarding boat price. 1) accept the lower valuations the market sets and move on - unacceptable until the owner does not value the boat more than the market. 2) wait for the inventory of used boats to drop allowing the supply/demand equation to restablish higher valuations - only going to happen if a hurricane wipes out a lot of inventory or we have a rash of sinkers. 3) existing sellers collude and only accept higher valuations - potentially possible via sites like these, but there will always be an "OPEC" minded seller upon offer...

    Personally, I continue to enjoy my recent refit and continual upgrades more than the market values them. If I ever find a replacement (not currently looking), I'll Hopefully make the discount I'm taking on the old boat up on the discount of the purchase of the new one... (or however you want to justify a loss).
    Formally Top Hatt and Tails
    1980 53MY

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts