34' Hatteras Advice

[Mdd2600]

Hello All,

I am new to the forum and am seeking a bit of advice regarding a 1967 34' Hatteras. I grew up on this boat and inherited it recently when my father passed away. I am 25 years old and though I can afford to keep the boat, I can't really afford to use it. I began running the boat at a very early age and always helped my father work on it. It has always been such a big part of my life and has so much sentimental value that it has been difficult to part with. Also, I feel that many people unfamiliar with Hatteras do not appreciate the boat for what it is. I have received some offers on the boat but feel that they are too low. I am curious as to what you think it might be worth. It has twin 454's, the tanks have not been replaced, and it does need electrical and some fiberglass work. Any feedback would be very much appreciated.

-Mike

 

[Rickysa]

Mike,

You may have been reading over the board and noticed some conversation regarding the depressed market right now and the deflated prices used boats are bringing. Seems most folks are holding onto boats, if they can, rather than selling now, hoping the prices will begin to rebound.

Sorry to hear of your fathers passing...are there any other options rather than selling? Maybe mothball it for awhile? Sure would be hard to part with something that was such a large part of your life.

Rick

 

[34Hatt]

Hey Mike

Do you have any pitures with out pictures it is hard to put a price on it.
Where is the boat?? As Rick said prices have dropped I like his mothball Idea specially since prices are down. Post some pictures if you really need a price along with more fact's Electronics, hrs, AC, Genny, windlass, any canvas and condition etc etc this stuff really adds to the price???

 

[Genesis]

I can tell you that from my watching of the market prices are down on HIGH QUALITY boats like a Hatteras by anywhere from 30-50% just over the last year.

I sold Gigabite (my 45C) last May. I could buy a "replacement" now at a 30-40% discount to what I sold her for

The question is whether or not prices will come back up. There is no way to know that. What IS known is that "megayacht" builders have record backlogs - while the "middle" of the market - especially in used vessels - has essentially collapsed.

If you love the boat and will want it in the future, then I'd mothball it. Preserve the engines and other machinery and store it until you reach a point in your life where you believe you will be able to afford to operate it. This assumes you will reach that point somewhere in the next 5 years, perhaps 10 at the outside.

If not, then you sell now and take the lumps, because the carrying costs will positively bury you by comparison if you don't. In other words, in 10 years you could buy the same year/type of boat for twice the money you're being offered for this one now, and still be ahead (once you account for carrying costs and the time value of money.) The breakpoint on that will likely happen somewhere between 5 and 10 years down the road.

Remember that money has "time value" - that is, money spent today cannot be invested and inflation always eats away at cash or anything that is a proxy for cash (any asset.) Unless that asset is appreciating faster than inflation, you are still losing money in real terms! It does not matter how many dollars you have - only what you can buy with the wealth you possess.

 

[garyd]

Keep it at all costs. Unless you just hate boating and will never do it again then keep it.

When 10-20 years go by and you have a family of your own and that 34' is fully restored and your teaching your son like your dad taught you on the same boat then as they say "PRICELESS". And just think if you could pass that same boat onto your own son. That would be awesome.

You might not think that way now but I believe you will as you grow more experienced.

KEEP IT!

Garyd

 

[(Nobody You Know)]

Md:

Welcome to the best boating forum on the net! Yours is certainly a most unusual delima for a new Hatteras owner.

Go into www.yachtworld.com/advanced search and enter the info of the 34 Hatteras. This will give you some idea what the "asking" market is doing.

I truly believe that if the Dow remains strong and no mega maniacs in Iran screw up any time soon the mid boater market will rebound.

While the majority of respondants to this forum don't know what they are talking about occasionally one of them once in a while comes up with something brilliant. Sooo check back with us should you have other upcoming issues, we all are more than happy to help.

Hope you can work it out to where you can keep the boat.