Was hoping that maybe, just maybe, the low prices were over with...

[saltshaker]

Here's your explanation, from the perspective of an owner that did the project:

Every year you write checks for maintenance. Every year you depreciate mechanical and finishes, electronics and interior design. A buyer can shop and buy the right boat, in the best of condition, with the right attributes, turn-key, so to speak, but with that purchase comes depreciation and carry costs.

Much of that which you experience as your costs of ownership can be folded into the budget of the project to go along with the drastically reduced cost of the purchase. With, say, 10 years of ownership you won't find that the overall investment on either side of the conversation are dramatically different, and the project boat has the opportunity of being refined to the specific tastes as not will all be as dramatic as my project was in terms of structure and completely new build.

In the end with my 53c, I invested perhaps 25% more than the cost of buying off the shelf and fixing/maintaining/improving/upgrading and the typically higher carry costs of the older product, and I enjoy that delta every time I take her out of sight of land, into rough conditions, as I know what I built was meant to last another 40-50 years. I was okay with the "overpay" as I was happy with the comfort and piece of mind. While I won't ever recover that investment, typically you don't with any boat, any car, any RV, any plane. That's simply the cost of the enjoyment and opportunity.

Very well said. I think many here forget that buying a project and doing a refit isn't about saving money. As you stated you were able to get the boat you wanted and the value comes in the way of usage and enjoyment. My neighbor just took a 1.3 mil hit on a 7 year old 54 Viking. I'd say that cost him much more than your project boat will cost you.

 

[oscarvan]

My neighbor just took a 1.3 mil hit on a 7 year old 54 Viking. I'd say that cost him much more than your project boat will cost you.

Ouch. I hope it was worth it for him.

 

[rtrafford]

Very well said. I think many here forget that buying a project and doing a refit isn't about saving money. As you stated you were able to get the boat you wanted and the value comes in the way of usage and enjoyment. My neighbor just took a 1.3 mil hit on a 7 year old 54 Viking. I'd say that cost him much more than your project boat will cost you.

Right. It's never about saving money, although you do tend to save quite a bit in maintenance through the early years...basically money that you've pre-paid in the project. And I have never been on a boat that had me walking away thinking there was nothing I would change if I owned her...that is, I've never been on a boat available in six figures that left me with those thoughts.

Yes, the Vikings are terrific boats until you do that math. Keep them for life so that you won't feel that pain.

 

[Tinman]

Yes, the Vikings are terrific boats until you do that math. Keep them for life so that you won't feel that pain.

You can do the math on any new boat and the result is similar 7 years out. Buying a 7 to 10 year old boat or a complete rebuild such as yours can reduce the hit down the road when you decide to sell.

 

[rtrafford]

You can do the math on any new boat and the result is similar 7 years out. Buying a 7 to 10 year old boat or a complete rebuild such as yours can reduce the hit down the road when you decide to sell.

Absolutely, did not intend to speak to a specific issue with Viking. It's a high quality, first class yacht.

 

[Tinman]

Absolutely, did not intend to speak to a specific issue with Viking. It's a high quality, first class yacht.

I wasn't offended, nothing wrong with Viking except maybe the older Mans. Curious what project #4 is going to be?

 

[rtrafford]

I wasn't offended, nothing wrong with Viking except maybe the older Mans. Curious what project #4 is going to be?

 

[Tim Powell]

I met a couple many years ago who bought a 38-ish aft cabin (Trojan I think) as a summer home. They were both school teachers. At the time they spent about $50k on it, as it had 2 bad engines. Kept it at Avondale Boat Yard in Westerly, RI. The yard launched it and towed it to their slip every spring, and then towed it and hauled it every fall. They had no desire to ever leave the slip. As my wife and I had a drink with them one evening, watching the sun set, they pointed out that a similar sized house on the water would have run them at least 10x as much, and their taxes would be at least triple what their dock fees were.

As was noted above, for the right people, that motoryacht would be perfect.

one would believe the house would grow in value

 

[Tinman]

View attachment 19449

Nice pilothouse MY, will be interesting to see what you do with that gal.

 

[saltshaker]

View attachment 19449

i noticed the name, I'm guessing your a two boat owner. Looks like a Burger. What size and year?

 

[rtrafford]

i noticed the name, I'm guessing your a two boat owner. Looks like a Burger. What size and year?

1980 68 Hargrave

 

[saltshaker]

1980 68 Hargrave

That explains it. Thought it was a Burger but the trim on the dodger board was throwing me off.

 

[SeaEric]

Looks like a Burger (was) named Taittinger. Lovely boat. I like the gray stripe.

 

[rtrafford]

Yes, Taittenger. Old systems out, new chillers and air handlers, electronics, LED conversions, upgraded electrical, naiads, and full interior makeover. Also replacing and improving all of the glazing and insulation along the way.

 

[pizzazsdaddy]

Yes it is a Burger 68 or 72. Both looked similar. Yes a Hargrave design.