How accurate is NADA boat value on a 1970 53' Motor Yacht

[SEVEN]

Douglas like found a 1974 53 footer in Redwood City Ca. It's on yacht world for 85,000. From the road it looks really good. Call if you would like to discuss. Rusty 650-619-2308

 

[SEVEN]

Douglas, I went on board and it's a little rough. 4000 hours on engines. The broker says the owner wants to sell it fast and will consider lower offers. The brokers name is Whit Newton. The cell number.ber is 650-464-8283. Rusty

 

[douglasl]

Douglas, I went on board and it's a little rough. 4000 hours on engines. The broker says the owner wants to sell it fast and will consider lower offers. The brokers name is Whit Newton. The cell number.ber is 650-464-8283. Rusty

Rusty, you're the real deal sir! Thank you for keeping an eye out.

I saw the pictures. It seems that she wasn't taken care of these past few years. So sad, when it's more economical to maintain a vessel, than to refurbish later on. What scares me are the engines ($15k each for MOH?) and "the forward head is direct discharge not to the holding tank". I was thinking WTH? Strange.

From your visit, how much do you think it would need, ($$) to bring her up to par with your beautiful boat?

Regards,

Douglas
310-463-8088

 

[Avenger]

Probably no holding tanks in a 1970. There's none on mine. Just sounds like disclosure on their part.

 

[SEVEN]

The broker said it has blisters on the bottom, how many is unknown. A stripping of the bottom and barrier coat could be 6 to 8k. The hull was painted with the wrong paint and is craz cracking and needs to be stripped. The whole boat repainted 50k. Complete gut of the inside. Looks like she has good bones. If I had the time to do it myself I would offer 35 to 50k tops. It will most likely take 100k to restore her to my liking. That's if you did the interior yourself more if a yard did it. This is just a rough guess on my part. Could be less but most likely not. Call to discuss. Rusty

 

[douglasl]

Rusty, thank you for the information.

I think I'll pass on this one. I don't mind getting a boat that needs minor stuff, but not a major project. I'll get a boat in due time, hopefully sooner than later.

Winter's a coming, more boats should be in the market soon.

Douglas

 

[SEVEN]

If you get back to the Bay Area give me a heads up and I'll show you my 53. Good luck.

 

[pizzazsdaddy]

Oh Douglas. Oh Douglas.

Heed the good advice from those on this website. We are all trying to help you.

First of all, you misheard someone who said $50,000 per engine, not $15,000 to completely overhaul a GM871.

If your heart is set on a 53 Hatteras, you've decided well. An old 53 offers the most home-like livable layout on the water. It's the quintessential quality built American Motor Yacht.

HOWEVER...When you started this, you were wondering about the quoted "value" of the "average" 53. NADA is probably more correct than not. Consider for a moment that the cheap nasty one in Redwood City, is more often than not, the "AVERAGE" 53 still out there. These boats are approaching 50 years old, and half of the owners simply can't afford to OWN them anymore.

Based on what I see regarding West Coast values. The only sensible idea would be to find a nice 53 on the East Coast, and ship it home. Buying a good one will cost you way less than fixing up a rough one. There is no in between. OR shop for something smaller.

 

[douglasl]

Guys, thank you for the comments and advise.

I've learned a lot from you guys and other posts on this forum. I won't buy any Hatteras until I get your approval. 10 heads are better than 1.

Thanks,

Douglas

 

[pizzazsdaddy]

Hey Douglasl

I was doing a comparison look for something else earlier today, and ran across a boat that might be a good one for you. A distance from you...in San Rafael...but still in California. 1966 47 Chris Craft Commander asking $102,000.
A 47 Commander gives you a top quality full size flush deck motor yacht and certainly is a "model" you should see. For the market you are shopping in, a clean 47 Commander will give you all the yacht anyone can handle within a budget.
I know of a super nice once of these for $40,000 less, but it's got an east coast location.

 

[douglasl]

@pizzazsdaddy, thanks for the heads up.

I saw that one. It's a bit quirky inside. Got to go through forward cabin to get to the 2nd head.
And the aft deck is not enclosed; which is something I like about the Hat 53' MY.

Douglas

 

[pizzazsdaddy]

Does this mean you want to find a REALLY NICE 53 Hatteras for $100,000??? OUCH... Yea...good luck!

I did think of a possible boat to go see. A 1990 model 52 Californian listed by Chuck Hovey Yachts at Marina Delrey asking $159,000. That might be a boat you need to at least look at because it offers more modern everything.

The boat I don't understand why no one has grabbed yet is the 48" 1981 Hatteras cockpit Motor Yacht named VICISSITUDE, in Portland, OR. In the pictures I see something that might be better than you think. And it's powered by EXTREMELY DESIRABLE GM671N's. What a package! Better yet, the owner has reduced this boat down to $89,900...from $159,000 last year, just to get it sold NOW. It has another plus already being on the West Coast. If this one is nice, it could be a west coast steal for someone.

 

[douglasl]

Yes, VICISSITUDE, in Portland, OR seems like a nice boat. But it's only a 2 cabin.

I'm looking for 3 cabins.

As far as pricing, $100K would be for an early 70s boat. Maybe topping at $120K. Many of the boats on the West coast that sit, they have their own unique situations. Either engines are bad, listing on one side, etc.

I saw a 55' California. Only had one running engine. 3 months later, broker called me saying they had a steal of a deal. $50k to take this beauty. Both engines were bad, they would not allow a surveyor to run the engines, and it was listing on one side. 2 out of 3 ain't bad, at least she hadn't sunk yet. But that's the extremes. Most boats are nice, but are being sold because they need major TLC, whether it's electronics, galley, windows leaking (most of them), teak/wood outside or inside, and the usual MOH on engines. And, the usual dreaded ones that have a jungle growing underneath the hull. And broker says "owner has been in town in the past 2 months". Really?! More like it hasn't been cleaned in 8 months to 1 year. I lived and had boats in Florida. Boats don't get like that in Florida even after 3 months.

Others, like the California you mentioned, the sellers are more like "give me what I want, or I won't sell it". Of course, the price is a bit high compared to what needs to be done to the inside. Not to mention the outside. I understand that there are some sellers that aren't really ready to sell.

I've seen other great deals on larger boats, but the problem then becomes getting a slip for it. Southern California is tight on large vessel slips. And if you do find them, rent will put you back $3k-$4k a month on the regular marinas. Way higher for the nicer ones.

 

[pizzazsdaddy]

Maybe the reason most of the boats you're seeing are junkers, is because you've backed yourself into a Price Point where the only remaining boats available ARE junkers? Have you considered this a possibility?

If you think about it...That cheap and rough 53 out there, might be for YOU... IF you're owning it for around $50K. By the time you realize what you've done...you aren't far enough into it to loose too much more money... And remember, you've got to get a boat through survey in order to get insurance. At most nicer marinas, you need insurance to get dockage...

Check out the 53' Chris Craft Aluminum Roamer asking $165,000 in San Diego. On Yachtworld. It's actually not a 53 footer as listed...but a 55' Roamer model. Should be 3 staterooms. No interior pictures but the outside looks pretty good in the photos. 871Ns...And someone spent a ton of money installing euro-style swim platform steps into the transom without changing the boat's profile. (Super Clever). An extra beamy model too. She might be a pleasant surprise. Considering your marketplace, it's one you probably need to go look at.

Based on what you say in your post about dockage prices, that 2 stateroom 48 Hatteras in Portland might be the SMARTEST boat of the bunch, and with an owner who's ready to SELL. Unless you have 4 kids living on board with you, NOBODY NEEDS 3 staterooms!

 

[douglasl]

@pizzazsdaddy,

You may be right. A few years ago I was seeing late 70s Hats at around my pricing. Seems that with the economy getting better, prices have gone up too.

I do look at boat prices up to $159,000 knowing that there will be a bit of wiggle room there. It's not that I'm looking at $120K prices and under. $120K is what I'm willing to invest and feel OK with a boat. As we all know, boats are an investment, and even if it comes out being a really bad boat (even with surveys), I won't break the bank and go homeless.

Douglas

 

[SeaEric]

You may want to look at a Chris Craft 501.

 

[tom5518]

You may want to look at a Chris Craft 501.

Eric, what is your opinion overall on a Chris Craft 501 compared to the 53 ED?

 

[SeaEric]

Eric, what is your opinion overall on a Chris Craft 501 compared to the 53 ED?

I like the 501 for the $$. It's nice to have a full beam engine room between the master and guest. It's a way simpler boat to own than a 53. It's just not as pretty.

 

[pizzazsdaddy]

Hey Sea Eric, Douglasl, and Tom

A Chris Craft 501 would be the PERFECT boat for this guy if there were any on the West Coast. However...Even a 501 won't fall into his price range out there. Nor would a 48 or 53 Ocean, 50 or 55 Viking, or any version of the Hatteras 53. These were the only major boat models built with a similar 3 stateroom layout and an on deck salon along with stand up engine rooms.

I think the point Doug is missing is that the PRICES HAVEN'T CHANGED. When he started studying this a couple of years ago, there were simply more "available" nasty 1978s for $139,000 ask. A truly Exceptional "factory new" Hatteras 53 will always be worth $225-$250,000. And that's what it's going to cost you to buy one. Nasty ones start at $0. The question Sea Eric can answer... How much is a nice clean 53 that is survey correct going for these days? The "average distressed" boat shouldn't be part of the equation. Just the good ones. How Much???

And Tom...if you don't mind me chiming-in. A Chris Craft 501 doesn't come close to a 53 Hatteras, but remember, both boats were designed and built a generation apart. In my humble opinion, "the 501 is no Hatteras, but it ain't bad"!!! Personally, I like the 501. From a comfort standpoint, the layout blows away a Hatteras 53ED. Even better if you can find a rare 501 with Galley-Up. Created from the original Pacemaker/Uniflite molds. The 501 has a single stand-in engine room that completely separates the master stateroom from the guests. Plus the 501 VIP stateroom almost makes the 53 VIP part of an era gone by.

 

[tom5518]

I hope Douglas doesn't mind us veering off topic on the 501. Thanks Eric and Pizzazz for your input.