Atlantic Motoryacht?

[Capt.Erich]

Is anyone familiar with an Atlantic Motoryacht? I have a client that is considering taking a 47 in on trade. It's a well kept nice looking Hargrave design with DD 6 71's. There are only 4 on YW with a wide range of prices. Any advice is welcome. Thanks!

 

[jlightonjr]

I know that boat was/is considered a great cruiser but thats about all I know?

 

[Walter P]

About a dozen years ago a friend of mine had a 47 Atlantic down in Fla. He and his wife used it as a live aboard. My recollection was that is was an unusually roomy boat and appeared to be well built.

According to the McKnew/Parker guide it was in fact designed by Jack Hargrave as the 46 Prairie. The company went out of business and re-emerged as Atlantic 47. It seems that most of Jack Hargraves' boats were understated as to size since it had an OAL of 46'9" and it was sold as a 46. Under the new name it still was 46'9" but was called a 47. As a comparison, the 1981-1984 Series 1 48 MY was (is) 48'8" and is called a 48, which was standard procedure for Hargrave and Hatteras. I suspect that the Atlantic's were not as heavily built as the Hatteras. An example is that the listed base weight of the 48 Hatt is 45,000 lbs, while the 47 Atlantic is 41,000 lbs and another thing is that the Atlantic has a 16 ft beam while the Hatt has 15 ft. More beam, almost the same size yet much lighter.

Insofar as performance, my friends boat never left the dock for over 2 years and therefore we had no clue as to speed, handling etc. I can say however that it was the perfect platform for some pretty good dock parties. If I was still in the market for a MY of that size range and there were no decent 48 Hatts around, I would probably consider a 47 Atlantic......maybe....

Walt

 

[SeaEric]

With all due respect to Walt, I personally don't think that 41,000# is much lighter than 45,000#. The Atlantic was a US built boat (Palatka, Fl.) by a family owned company. I think they were not well capitalized and that was the cause of their demise. The boats, a 34 express/fisherman, a 37 trawler style, a 44 MY and the 47 MY all seem to do OK on the used market. I have never heard anything bad about them as far as construction or inherint problems. The prices of the 47 have held up well for a boat and company that's been gone almost 20 years. Heck, I'd own one.

 

[Capt.Erich]

Eric,

Since you are Broker... we are considering this boat as partial trade on a 60 MY. The Atlantic will immediately go on the market as we are looking to move up to a 65 SF or possibly 74 Sport Deck. What is the market like for the Atlantic? Should we expect to trade it in? My theory is that a smaller, less expensive boat like the Atlantic will sell or be easier to trade. The 60 MY sat on the market for 2 years! Unfortuately, these mid-sized motoryachts from the 80's and early 90's are not selling. Anyway, if both surveys go well tomorrow we'll be on the hunt for the SF or the Sport Deck.

 

[labrador]

Eric, is that the one in Morehead? I was going to go look at it until I had my accident. Looks just like my Hat 40 only longer

 

[SeaEric]

Its all about price and condition. If you're selling the 60 and doing OK pricewise, count your blessings. Make sure the Atlantic is clean and well presented, and price it right. Since you will have no particular emotion involved in the Atlantic, that should make it easier. Good luck.

 

[Walter P]

Eric,

While I agree with you on almost all you said about the 47 Atlantic, the fact that 4 thousand lbs may not seem like much, but it is roughly 10% of the total weight. Now since this was a Hargrave design, including I'm sure, the layup schedule etc. it seems logical to me that it should be a pretty good boat. In fact I so stated as much, but being a fanatical Hatteras lover, it probably would be too difficult for me to admit it openly.

I particularly like the 16' beam which gives it much greater interior volume.

Regarding the 60', it seems that size boat has been particularly slow to sell in the current market. In your opinion what numbers are the '86 and newer 60 MY's bringing today, and do you think the market has bottomed or do we still have more stress to endure.

Walt

 

[SeaEric]

Well, the 60+ motoryacht inventory remains high. Motivated sellers are reducing prices to make a deal. Here's a recent sale:

60' Hatteras Classic MY 1989 List price: 549,000 (08/06) Selling price:475,000 (10/06) MD, USA

Pretty good buy I'd say, and I don't see prices going back up any time soon.

 

[Capt.Erich]

THis 60 sat on the market for more than 2 years and the owner had dropped the price several times. It is truely in Bristol condition. One of the most well kept Hatts of this vintage I have ever seen. I will miss it. Here is the YW link.

http://www.yachtworld.com/core/list...Length=60&man=hatteras&slim=quick&searchtype=

 

[Capt.Erich]

60' Hatteras Classic MY 1989 List price: 549,000 (08/06) Selling price:475,000 (10/06) MD, USA

Pretty good buy I'd say, and I don't see prices going back up any time soon.

I don't think that the price of these boats will go "up" anytime soon or maybe even ever. They are not like classic cars that rust and get wrecked or stolen therefore making them rare or collectable. Hatts are over built by most "industry standards" and therefore are lasting longer than other boats and are readily available. Just my opinion.

I seen several brokers sell owners on the idea that a boat will gow up in value. I have NEVER seen this work in the used boat market for the short term. I have worked with clients that have made out to the "good" when building a new boat and selling it before it is launched or shortly there after. When I work with a client who is getting in to the big boat market I always tell them the same thing... think of buying a boat as a "poor investment" and your "return" will be only calculated in memories and good times. Financially... you just want to control your losses by having someone to manage it for you. Kind of like haveing a "financial advisor" for your boat. Yep, that's my "sales pitch" and it generally works for the serious buyer.