Saving a Hatteras from a very bleak future

[BFDfirefighter16]

Hello everyone!

I am looking to save and resurrect this poor neglected Hatteras. She's a 1985 Hatteras 61 MY with an 11ft cockpit extension added after it was delivered to Ft. Lauderdale after being built. She appears to have solid bones but would need to be practically gutted and restored. When I say gutted I mean all new wiring, plumbing, and mostly new layout construction. I know many will probably say shes too far gone but I am looking to restore her because I hate to see such a beautiful designed Hatteras go to rot. I have a lot to learn fiberglass wise but have a reasonable skill level to be able to tackle the majority of what will be needed. I have a huge passion for the Hatteras brand and family on this forum. I plan on building her to use for my growing family and not for resale purposes. After Irma hit Florida she took on water up to the starter on the stbd engine as she listed over and took on enough water to get into the port engine. The water got in through a portlight that the owner had removed. Both generators are no good i assume and the main Detroit 12v71Ti's were new remans. One engine runs and the other is pickled with diesel and is locked. She has some dock rash but the worse part is that there are several spots of the gunnel that is broken fiberglass. I realize that it will take probably a minimum of $150k to get it where I feel it is mostly complete. The biggest problem I have is there are not many DIY yards anymore and I am located in Myrtle Beach, SC and the boat is in FL, so getting the boat up here will not be an easy task. From the attached picture what kind of damage could I be looking at from it sitting in the mud for a while till the tide was high enough to get it out? The owner told me that it has a crack in the hull near the stbd strut and he made a repair and the boat is now floating at anchor. My fear is that the stabilizers may be damaged and the propshaft may be bent. I just really want to see this boat return to her former glory when someone loved her. I really value and appreciate any an all feedback that everyone offers on here.

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[rrr]

We may as well start at the beginning , how much are you paying for this cream puff ?

 

[scottinsydney]

I have the same 1984 boat with a 9' cockpit extension. Looks like the same yard did the extension.

I think $150K is possibly low and would be looking at around $300K. I say this because a PO of my boat allowed the bilge water to rise above the stabiliser internals and they all rusted. Even though I am in the marine business they cost close to $50K to replace.

The wiring of the gensets and AC circuits, control panels, transformers is daunting and expensive. Miles of heavy gauge tinned copper wire.

If the engines are ruined, then you could replace them with much smaller John Deeres at say $40K each plus fitting. New shafts? $4K each? Gensets are $20K each

You could wire the boat with a DC Czone system and this may be more cost effective than the old wiring looms.

The biggest task for a DIY would be attaining a very high Hatteras standard and bringing the boat back to former glory. I see the teak bow rail is missing too.

New gauges, seven new aircon units, plus all the woodwork. Upholstery and fibreglassing and painting. This is a very big job for one person.

Were it me????? I would be very tempted to buy the boat for the right price 50K or less??, spend possibly $150K with a good value yard to do all the "hard" work and the big repairs leaving you with an operating mechanically sound shell that you could sail up the coast to your DIY yard. Or simply enjoy as is while you worked out what to do. We took out the old stabilisers and boarded up the holes for 2 years before replacing them.

Knowing everything is mechanically sound means you have the right foundations to complete the work in your own time. My gut feeling is the mechanicals and electricals will be the big costs and they are best left to the professionals.

And if you stripped the boat out and started afresh, what advances in technology could you take advantage of? For me and my boat it would be:

Simplify everything.
Smaller 350hp mechanical engines.
One 20kva genset and 220 volts, not both 110 and 220 volts AC.
One starter battery bank for both engines. One larger house bank with inverter.
Solar panels mounted into the hard top
Wifi instrumentation and displays
Czone backboane wiring systems to replace all the DC wiring.
NMEA2000 systems
Simpler airconditioning system
One AC control panel, rather than three.

Mine is not a huge list which is testimony to a 35 year old Hatteras boat. I'd be interested to learn what enhancements others would put in a "bare boat." In fact now that I've written all this I'd love to buy this boat too, strip it out and start afresh. What fun.

 

[rourkeh]

If you have the cash available to buy this boat and do the refit $200k - $300k, and the time 2 years plus then why would you not buy a Hatteras in good condition that is ready to go. Every refit I have ever been involved in as gone over budget by at least 25% and taken longer than expected by 50%.
If you make a detailed list of the work and materials required, add in the cost of storage and yard fees, and account for your time and then add 50% you will get a starting point of the costs involved.
A refit of this type is only going to succeed if you have a blank check, and you will never get your money back.

 

[Pete]

Advice from a 50 year boat owner, with no professional credentials to appraise a yacht, RUN DON'T WALK AWAY FROM THIS BOAT. This is a big disposal bill for someone, and you do not want to be that person.

Costs to bring her back has to be at least 50% of a similar new one today at 2018 prices. With the entire boat interior exposed to salt water and salt mist for an extended period, there is likely nothing worth saving.

 

[Passages]

If you have the cash available to buy this boat and do the refit $200k - $300k, and the time 2 years plus then why would you not buy a Hatteras in good condition that is ready to go. Every refit I have ever been involved in as gone over budget by at least 25% and taken longer than expected by 50%.
If you make a detailed list of the work and materials required, add in the cost of storage and yard fees, and account for your time and then add 50% you will get a starting point of the costs involved.
A refit of this type is only going to succeed if you have a blank check, and you will never get your money back.

^This

$150k almost laughable. Double that estimate, maybe triple depending on the inevitable surprises. Don't forget that while your are fixing stuff, you will also be on the hook for storage and insurance for a year or 2.

A project like this is nothing like restoring a classic car in your garage.

 

[Pascal]

This is a $500k project... if you can afford it, it would be a great opportunity to rebuild her the way you want with new systems, updated layout and interior,etc.. a new 60 is $2M so in the end you d get a fantastic boat for a quarter of the cost

The cracked hull is a real concern and you wont know what it will take until you get into it. For a hatteras hull to be cracked, you can bet the hull was subject to so serious forces.

I am up to over 200k on my 53 refit incl factory remans C series cummins 430s, new chiller systems, shafts, props, wiring, stabs. By the time i m done it will be over 300k and she didnt take on water. The only labor i paid was for the repower as i m doing all the work incl chiller system instal, carpentry, wiring, plumbing etc.

 

[Boatsb]

Is this the boat they signed the declaration of independence on?

Was this the first boat to orbit the moon?

If it's not a historic landmark it's not worth restoring.

I hate to see them die but these old boats are not collectors items.



To do it right you have to do it to modern standards.

She's not a trawler so no 300 hp little engines.

Look at a pair of cat c-18 as a cost measure. $150k

Electronics for both stations with satellite tv $50k

Add 40k more for shafts and props.

Redesigning the systems will be another 5 or 10 k before you even turn a wrench.

Electrical system $30k (wire is not cheap)

Ac systems $15-20k

If you put $500k into it it will still be a $300k boat.

 

[doc g]

and take a good look around at what can be had for under 200K!!!..................Pat

 

[jim rosenthal]

Don't do it. If you want a boat, buy a boat. This is an enormous project even for a wealthy person in the marine business. You are not buying a boat, here, you are buying financial ruin. Don't do it.

And we love Hatteras yachts, here, but one is too far gone.

 

[Scarlett]

We just did it to a 53 MY no where near as bad as that 61. I am happy with the results and money spent but it had good engines to start with. If I were you I would buy a decent 61 for around $200,000 and then spend $100,000 on a cockpit extension. That way for $300,000 you would have the same boat all ready to go, or come to San Diego where there is an actual bidding war going on between two 70 CPMY’s with the prices on them dropping almost every day. Both are real nice boats and will probably sell for about $300,000, one has freshly rebuilt Detroit’s. John

 

[BFDfirefighter16]

I am only 39 and retired due to a line of duty injury, so time is no problem. I am looking to pick it up for under 10K due to its condition and cost of relocating it. I currently have a 75 ft slip of which is very cheap for me at only $300 a month. The boat does have the teak rails and all the stainless trim on board. The owner also has a bunch of wire, as he was in the process of rewiring the boat according to Hatteras wire diagrams and had most of the new wire run which im sure most of it is no good since it took on water in the lower level. I have good woodworking skills and have the ability and means to make the upholstery myself. I know $150K is really low but I'm only looking to get it up and running for that cost and know there would be much more finer detail work to be done. Trust me I am listening to everything you all have said and greatly appreciate all your feedback. I do agree that the overall cost will probably land near 500K.

 

[racclarkson@gmail.com]

If you have the time, the money and the skills to do it, do it.* Sounds like the job is what you might need to fill the time from a previously active career. But, nothing changes the reality that you'll have a boat that will bring, if you're lucky, 50 cents on the dollar when it's all said and done. A good un-sunk Hatt is still a handful without all the major trauma. Either way, there's a pride in ownership and accomplishment that can't be quantified.

* What was that about a cracked hull??

 

[Cricket]

Having been through 2 repowers, a rewire, endless modifications and upgrades to a 50c that never was sunk, etc, the scope of this project is enormous. Hate to say it but you're going to need some additional bodies to make headway no matter how much energy and skill you have.
If the engines are gone it might be cheaper to find a set of good like takeouts or rebuilt, than repairing the installed engines that have had seawater in them. If it was me I would find a pair of takeout or rebuilt Cat 3406e/c15/c18 or DD Series 60, Cummins QSM? which can be had for decent prices.
I do agree that a cracked Hatteras hull is very unusual and something to be concerned about, and what other damage occurred that is hidden from easily being scene. Good luck either way and please keep us informed.

 

[Sharon Jean]

My understanding is that the boat hasn't been hauled since the damage.
There is a LOT that could be hiding below the surface.

Are there any insurance or salvage inspection reports available?

Also wondering if the current owner received an insurance settlement.

Care to share with the group how much they are asking?
This would help determine if the seller is remotely realistic about his situation.
As was mentioned earlier, the cost of disposal on this boat would be huge.

 

[rustybucket]

The 150k figure is nowhere near what it will take. Even if you do all the work yourself and get the parts at MFG cost you are going to be WAAAYYY above that. On the low end I'd say $300k, maybe even upwards of $500k to get her back on the water. Add to that 2-3 years on the hard in a boatyard somewhere charging you a ton. If you proceed please be careful, it can/will absolutely bleed you dry.

Just looking at the pics looks like lots of stuff is mia, no telling what else is missing that can't be seen.

You have any interior and engine pics of it?

 

[Scarlett]

Take a look at Ed and Lynn’s YouTube series called Trying Not To Sink, they have a picture of that boat on the beach in the latest episode.

 

[Toolsntoys]

I’m heavily involved in a refit on my 53 I can tell you that your numbers are low. The decision for me to do a refit was that I didn’t want to buy a used boat that had old system that were going to fail when I wanted to go boating. I look at this way. Boats need work no exceptions but I’d rather do the work in advance and have all new systems when done. I’m 54 yo. And trying to get my boat as close to new as I can before retiring in a few years plus the boat will be paid for in full with no payments. I know I will never recover the money spend but that’s ok for me boating is not an investment it’s a passion

 

[Pascal]

You last post makes the project a little more feasible but i stil dont think you re going to her it running for $150k. One engine may be running but for how long? A good rebuild on these 12V71 is going to be 100k incl transmissions. And you still have undesirable engines with a questionable history. A full repower is the only way to go if youre going to revive this boat.

I went thru the same reasoning with my 53. I bad 8V71, one still ok. I felt that rebuilding them was just a waste of money as it was 60% of a repowering with cummins factory remans.

The electrical needs to be redone from scratch. It s not worth tryig to salvage some old wiring... do it right, all marine wire and components. Yes, hatteras did a good job in the 70s and 80s but that s by 70s and 80s standards. Sprinkling sub panels in various location was ok back then...

You can do a oot of the work in the slip but at some point when the engines and shafts have to come out, it will be 3 to 4 months in the yard... down here it s $3000 a month in a DIY yard for a 53.

 

[jim rosenthal]

Just buy a running boat you can update and improve as you go along. There is NOTHING more expensive than a cheap boat. Don't do it. No matter how much time you have on your hands, there would have to be four of you to tackle this. I really advise against it.