58 Hatteras Yacht Fish for $25,000?

[pizzazsdaddy]

WOW! Great info Dustoff44!

Hey Boatsb, you left out a couple of items on your guesstimate. Correctly installed new galley appliances including washer/dryer involves additional electrical upgrades in the galley area, not to mention cabinetry, lighting, headliner, flooring, and dinette...etc...it adds another $60-$75,000. The finished project would cost about $750,000.

I don't care how handy someone is, all of these "tired" boats are for professionals ONLY.

If you think about it, and you're willing to wait a year for completion, a "BRAND NEW" 58 Hatteras Yacht Fish for only $750,000 might be the better deal at the end of the day.

If you consider the depreciation on a New 2014 Hatteras 60 over 5 years of ownership, you'll loose about $1.5 Million. With a "BRAND NEW" Old 58, you would only loose about $450,000. Long term, you would be $900,000 ahead!

A rough 58 isn't worth much more than the sinker. They both need the same money spent.

[SeaEric]

A rough 58 isn't worth much more than the sinker. They both need the same money spent.

Or, you could take the time to shop and find the nicest 58 YF out there and pay market price for it which we all know isn't very much now'days.

[pizzazsdaddy]

Hey SeaEric! Having met you, I extend a ton of respect!

I think we're both trying to get across the same message. You're still in the biz. I'm no longer active in spite of the passion still being there. Knowledge IS POWER! The message from our "hearts" is that the NICEST BOAT is the SMARTEST BUY! PERIOD!!! No If's. No And's. No But's! Maybe because we simply know better! This isn't about "brokering"! It's all about INTEGRITY! FOR THE BUYER...THE SELLER...AND THE MARKETPLACE!

The gentleman who purchased my old 58 PIZZAZ...STOLE IT! ...and I know he's invested another ton of money into her since his purchase. Old PIZZAZ...like your 58 LRC "KISMET" were both amongst the nicest "One of a Kind" "SHOWROOM PRISTINE" boats, that everyone dreams of finding, yet only the smartest buyers are willing to pay for....OR SHOP FOR!!!!

The reality is that the nice boats are worth way MORE than the average buyer thinks. The nasty boats are worth way LESS than the average seller thinks.

However, when a truly reputable broker represents all parties with integrity, Everyone Wins!

I've always followed a simple premise. A "10" is a Brand New Boat at the Boat Show...even if it's 50 years old! Anything less than a 7 might as well be a "2".

TRUST NO ONE...EXCEPT YOUR OWN EYES! ...And good surveyors!

[saltshaker]

Hey SeaEric! Having met you, I extend a ton of respect!

I think we're both trying to get across the same message. You're still in the biz. I'm no longer active in spite of the passion still being there. Knowledge IS POWER! The message from our "hearts" is that the NICEST BOAT is the SMARTEST BUY! PERIOD!!! No If's. No And's. No But's! Maybe because we simply know better! This isn't about "brokering"! It's all about INTEGRITY! FOR THE BUYER...THE SELLER...AND THE MARKETPLACE!

Only if the boat is priced right. Most sellers of clean updated boats think thiers is worth much more than it really is. Sooner or later they have to come to that realization if the ever want to sell thier boat! I know I could never replace my boat for what it would sell for but that won't change it's market value.

[Boatsb]

Only if the boat is priced right. Most sellers of clean updated boats think thiers is worth much more than it really is. Sooner or later they have to come to that realization if the ever want to sell thier boat! I know I could never replace my boat for what it would sell for but that won't change it's market value.

Stole it is a relative term. These boats are only worth what someone will pay. Jack is right you can't replace many if the for what the would sell for but if someone wants to price a boat way too high and consider a fair
price stealing it thats their choice.

[MarioG]

When we bought our Yf, the prior owner poured well in excess of 300k (not including purchase) into our boat. There is no way our boat today would command the selling price the day we bought her although today it would cost about the same to update. As I say today as I said back then, the only financial justification in buying a boat like ours is solely an investment in the quality of life and memories for you and your family.

[Angela]

Mario...you are spot on when it comes to trying to justify the cost and ongoing expenses of keeping one of these classic, old girls. I have way less disposable cash than ever before, but my quality of life has increased exponentially. No, I don't get to do those monthly ski vacations in the Rockies every month during the winter like I used to do, but I'm quite happy just merely being on the boat everyday in what I call paradise.

If Pizzaz is right about how much it costs to do the galley, then my boat owes me some serious cash. I am just finishing up the galley remodel which started from scratch...gutted the old galley entirely and started with bare walls and plywood floors. I had a $15,000 budget, but having done the job myself, I didn't pay any labor, and I have enough left over to head to the yard in a couple of weeks for some bottom paint. Gotta love the talents of YachtsmanWillie - I took a few lessons from him, myself.

[tom5518]

Mario...you are spot on when it comes to trying to justify the cost and ongoing expenses of keeping one of these classic, old girls. I have way less disposable cash than ever before, but my quality of life has increased exponentially. No, I don't get to do those monthly ski vacations in the Rockies every month during the winter like I used to do, but I'm quite happy just merely being on the boat everyday in what I call paradise.

If Pizzaz is right about how much it costs to do the galley, then my boat owes me some serious cash. I am just finishing up the galley remodel which started from scratch...gutted the old galley entirely and started with bare walls and plywood floors. I had a $15,000 budget, but having done the job myself, I didn't pay any labor, and I have enough left over to head to the yard in a couple of weeks for some bottom paint. Gotta love the talents of YachtsmanWillie - I took a few lessons from him, myself.

Angela, happy new year! It's good to see you post, but you are forgetting the #1 rule on these projects: posting pictures.

[bigbill]

pizzaz, not trying to be a smart ass here, but if your boat was the best on the market and pristine, why did the new owner dump a ton of money into her, and what did he dump it on?

[dastahl]

pizzaz, not trying to be a smart ass here, but if your boat was the best on the market and pristine, why did the new owner dump a ton of money into her, and what did he dump it on?

Good call . . I noticed that too. Why did they have to put a ton of money into her?
OK I'll guess they wanted to get modern fixtures and appliances and change the fabrics?

And we re-did the galley on our 58 LRC last summer for about $15,000. I did most of the work and we ended up with high end Italian appliances for size reasons. The granite guy professional installed the counter tops so I will have to fix them some day, but the admiral approved it for now with conditions. Photos on the way. And BTW I had to re-build the floor to the studs from termite damage. That was fun. New LED 32 volt lighting and AC lighting. Glass back splash which was professionally installed so I will need to fix it some day but the admiral approved it for now.

I do not by any shade of ones imagination do everything as well as an pro. But my experience with pros is generally poor and I really hate paying for poor. But I have to have help. Re-fitting a 58 LRC is a rather daunting task.

Skooch