Boat Shopping, how to value equipment and extras

[Vincentc]

A friends request for advice on boat shopping got me thinking. How to best evaluate available boats. The goal is to get the best, not just the most boat for your money. You narrow things down to a Hatteras, for instance a 43 DC or MY, the next question is deciding which boat gives you the best boat for the money. There are a multitude of options and condition issues. Seems it would be helpful to identify and put a value on those items you think important. I put together a list and value in like new condition/cost to have those items installed/replaced and would like to know your thoughts about this system to determine the best boat. My list is as follows:

air conditioner system $4,000
Auto Pilot $3,000
brightwork cabin door $500
brightwork handrail $500
brightwork wet bar $500
cabin windows rebed $1,000
Canvas cover, FB $200
canvas cover, handrail $200
canvas, cover windshield $300
canvas, enclosure aft deck $3,000
canvas, FB Bimini $400
deck core dry, cabin top $2,000
deck core dry, aft deck $2,000
deck core dry, FB deck $1,000
deck core dry, fwd deck $2,000
Deck, Windlass w Gypsy $2,000
Electronics, Plotter 10" $3,000
Electronics, Plotter 10" FB $2,500
Electronics, Radar $1,000
Electronics, Stereo system $1,000
Electronics, TV Saloon $500
Engine Synchro, Glend $2,000
Engine, new repower/OH $30,000
Engine, Oil Change system $1,500
freezer $500
furniture, aft deck $1,000
furniture, Saloon $1,000
generator $16,000
glass, cabin windows rebed $500
glass, windshield frames rebed $1,000
glass, helm side windows rebed $1,000
ice maker $600
soft goods fwd cabin $500
soft goods, aft cabin $500
wing doors $1,500
ground tackle, primary $500
ground tackle, backup $400
dingy and motor $2,000

 

[thoward]

A friends request for advice on boat shopping got me thinking. How to best evaluate available boats. The goal is to get the best, not just the most boat for your money. You narrow things down to a Hatteras, for instance a 43 DC or MY, the next question is deciding which boat gives you the best boat for the money. There are a multitude of options and condition issues. Seems it would be helpful to identify and put a value on those items you think important. I put together a list and value in like new condition/cost to have those items installed/replaced and would like to know your thoughts about this system to determine the best boat. My list is as follows:

air conditioner system $4,000
Auto Pilot $3,000
brightwork cabin door $500
brightwork handrail $500
brightwork wet bar $500
cabin windows rebed $1,000
Canvas cover, FB $200
canvas cover, handrail $200
canvas, cover windshield $300
canvas, enclosure aft deck $3,000
canvas, FB Bimini $400
deck core dry, cabin top $2,000
deck core dry, aft deck $2,000
deck core dry, FB deck $1,000
deck core dry, fwd deck $2,000
Deck, Windlass w Gypsy $2,000
Electronics, Plotter 10" $3,000
Electronics, Plotter 10" FB $2,500
Electronics, Radar $1,000
Electronics, Stereo system $1,000
Electronics, TV Saloon $500
Engine Synchro, Glend $2,000
Engine, new repower/OH $30,000
Engine, Oil Change system $1,500
freezer $500
furniture, aft deck $1,000
furniture, Saloon $1,000
generator $16,000
glass, cabin windows rebed $500
glass, windshield frames rebed $1,000
glass, helm side windows rebed $1,000
ice maker $600
soft goods fwd cabin $500
soft goods, aft cabin $500
wing doors $1,500
ground tackle, primary $500
ground tackle, backup $400
dingy and motor $2,000

Some stuff is likely underpriced
Ground tackle is likely around $800
Radar is dependent on size but will be $2000-$6000
Need to add depth finder and transducer $1000-$2000
Custom furniture is expensive, our couch from Glasstop was just shy of $4000
I would expect that the canvas work will be much more expensive than listed.

 

[SKYCHENEY]

Actually getting to use the boat.............................................Priceless

 

[Vincentc]

Thanks for the input.
I agree. Using the boat is what it is all about. Making it usable is a necessary part of it.
I tried to identify things we use and I think need on our 43 DC.
For example, the boat came with a nice sofa but the wrong color for my wife. We found one she liked which could fit for $900, it could have been $4000, but we all have different priorities. The radar dome was a factory reman and cost $500 and plugged into the Garmin 4212.
The boat came with a nice satellite TV system, which I thought was cool, but in 2 years, watched may be 4 hours of TV, so I removed and sold the antenna.
Had I known the extent of the coring problems, I probably would not have bought the boat, although I am glad I did.
Regards,

 

[MikeP]

The difficulty with values other than perhaps straight-forward mechanical issues - how much will it cost to rebuild an engine, or whatever - is that we all have different views of what we need/want. The example with the sofa is a good one. Just because there is a new sofa or new carpet doesn't mean I like the color/style - so to me, that new carpet/couch is worthless if the first thing I'm going to do is toss it.

Electronics are almost as bad. They change so rapidly and people like different stuff. Basically, if I was looking at buying a boat, I would consider any electronics more than 3-4 years old as "just there" - it has no "value added" at all. It's sort of like every car has a radio and a heater. The latest , greatest and most expensive Garmin stuff that I bought/installed in '05 works perfectly and does the job but it is hopelessly archaic compared to the current stuff. If I was selling the boat, I would expect the buyer to be looking and thinking, "I gotta get rid of that old junk!"

Then, of course, there is the stuff you THINK originally is important that later turns out not to be - the SAT TV you referred to, for example. That's impossible to know, unfortunately. Heck, if I knew in '04 what I know now, we'd have bought a different boat. OTOH, our use pattern for the boat is different now so what worked great then is less great now. That's part of the equation and there's no way to know what the future will bring.

I think the only concrete value you can attach concerns the "boat" itself and its associated systems the rest of the stuff is just personal taste/preferences.

 

[Newbieboater]

I have been looking at boats for better then three years now. I have looked at boats from the Great Lakes to Key West. One of the best-looking boats I have come across has a Stephens / Packman, it was a low cost money pit, and there are to many out there today.
I have looked at wooden boats, steel boats and fiberglass boats everything from 45’ to 66 ‘
Through a process of elimination I came up with a couple of boats that fit my needs.

My search is now limited to Hatteras 53MY and 58MY. Hopefully I can find a sound one in the Chesapeake Bay area. Purchasing a used boat is like buying a used car it’s not perfect. I’m prepared for dings it’s the stained wall’s, (water intrusion), broken windows, cracked radar arches etc that make presenting an offer on an over priced boat difficult. I think that 60% to 70% of the value of a used boat is in the engine room. Electronics are out of date the minute you take them out of the box, so the question is can I live with what is there. Furnishings, you’re going to change them to make it your boat, can I live with it for a while.

If you want to play you have to pay, it does not mean you have to bankrupt yourself.
Looking to go cruising soon.

JB

 

[JLR]

My two cents--look at big ticket items and leave a reserve of money aside for unexpected and or preference type purchases. Assuming the hull is sound, the next biggest item is engine condition. Up here, rebuilds run about 3.5K per hole. Thereafter, the gensets need to be evaluated. Figure about 1K per KW for replacement. If only one genset, consider adding another. Thereafter, I figure about 100K or so as a fund to use to take care of preferential items. That is, I like my own brand of electronics, CCTV cameras, and other preferences. No matter how well equipped, I always replace electronics with my preferences. Finally, based on my experience, it takes a solid year to get a boat into the condition that you want it to be after a purchase. So be prepared to devote your time and money to the new purchase.

 

[MikeP]

"Finally, based on my experience, it takes a solid year to get a boat into the condition that you want it to be after a purchase. "

WOW! I'm way behind!! We've had our 53 since late '04 and it's still not where I want it!

 

[Newbieboater]

I’m planning on three years dock side before doing any distance cruising. A boat is a hole in the water you throw money into.

JB

 

[Canuck Dennis]

Good electronics are hard to beat, I have a Northstar GPS 1991 and a Furuno radar and depth sounder 1989 all work in excellent condition, also have new backups just in case, so I think todays buyers get too excited over so called out of date electronics.

For me the critical items are engine life, generator life and overall condition of thro hulls and hull integrity, the rest is all fluff and personal taste issues. These items are fun to upgrade and enjoy over a period of time and when budgets allow, that will bring the boat into the overall condition which usually means, "time to sell" lol...

 

[Fanfare]

A few years ago I came to the conclusion that most everything on a boat breaks/becomes obsolete/needs overhauling about every 15 years. But lately it seems stuff is lasting longer. My best Furuno radar is from 1987. My bridge radar uses Navnet One, now Furuno is up to Navnet 3 with lots of new features, but all I need is a radar. This NEMA 2000 stuff sounds nifty but until I replace everything on my old boat I have nothing to tie it to. So who needs it? Even the fabrics on board seem to be more colorfast than before. Much just comes down to personal taste. Once things are set up the way we like them the expenses drop a little.

About three years ago my favorite VHF went out. Rather than try to fix it I got a new one. More features, a bit more complicated, not as expensive as I might have thought. My 13 year old watermaker blew a seal, but getting the pump rebuilt was nothing like the original installation cost and labor charge.

I did feel that a lot of things needed repair this year, but probably not that far out of line. The head clog caused by a grandchild was entertaining for me for a total of 11 unpleasant hours, but that's boating. Maybe working on our complicated vessels is what keeps my synapses firing. I sure know how to fix a lot of things that I once did not.

 

[Newbieboater]

Today, some people can’t get from point “A” to point “B” without a GPS.
What are we going to do when the lights go out? stay home and bit_h.
JB

 

[thoward]

My best Furuno radar is from 1987. My bridge radar uses Navnet One, now Furuno is up to Navnet 3 with lots of new features, but all I need is a radar. This NEMA 2000 stuff sounds nifty but until I replace everything on my old boat I have nothing to tie it to.

I had the Furuno VX2 on my CC. It still works great and, on a go fast boat, I would take it over any of the touch screens. On the 52, I have a Garmin system fully networked with 2 screens, autopilot, 1kw CHIRP sounder, 12kw HD radar and XM. Unless you are a serious fisherman, it is overkill and will exceed the needs of most folks for many years to come. FLIR and electronic gauges would be the only additions I could see being desired.

If you don't fall in to trends, your interior should maintain value too. The white/mauve/mint green curtains originally in our boat screamed 1980s. We opted for a more classic look which should stand the test of time.

It is just shy of a year and with the exception of engine room paint/detail, I finished most of my high priority projects. That will take place once it starts to cool off. We still have some projects of desire, mostly cosmetic, but nothing really pressing. It is nice to just enjoy the boat.