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What am I worth to you

  • Thread starter Thread starter George
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George

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Feb 8, 2006
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306
Hatteras Model
45' CONVERTIBLE-Series II (1984 - 1992)
1985 45' Convertable, Cat C-12's 600 hours, 28 knot cruise @ 1900 RPM, new interior, new custom hard top & Rupp outriggers, all new electronics, custom bow rail, custom cockpit fish station and hull vents by Slane Marine. Look under owners pictures for George. Just curious as all these boats have taken a $ hit, no pun intended, but certainly the value is in the eye of the beholder, of check holder.
 
Nice boat! I would think she would be valued at around $350K based upon the limited pictures and info available compared to what else is on the market. To me a boat value is based upon condition. I saw an absolutely georgous older 54 Bertram and the guy was asking $2M and it would have been worth every penny, the only problem was it is on the left coast and it is not worth the hassle to move it here. If it was on this side of mexico, I would have bought it. If I were looking for a 45C that price would be attractive to me, especially if you look at what you can buy for that, a new 38 fountain open console will go almost that much now and everything else in that price range is junk. $350k would buy you a lot of boat for the money.
 
Hope you aren't selling, George. What do you see on Yachtworld etc? I would think at least 325K, if you look at what it would take to do that. Modern engines, vent and bridge and top update etc etc? And from what I recall, this boat is very quick with the C12 Cats....however I hope you keep her.
 
I personally don't think you'll get more than $250k if you sold her. That is, if you listed at $300 (or $299), I bet you'd draw a $270ish offer almost immediately (negotiate, you net 250.) If you listed at $350 you might not draw any offers at all.

Yes, I know what's listed on YW. But most of those prices out there are "wishes", to be honest, which is why they're still on the market. There's one other repowered boat I saw immediately with 3196s asking 350k and he's gonna own it for a while.

The general rule of thumb for a bigger boat is that you either sell her within a couple of months of listing it or it will sit on the market for a year or more. Why? Because if you price it right someone will buy it immediately - if you try for the last fistfull of dollars then you need to find someone who really wants your particular boat and doesn't give a damn about the cost.

That can take a good long while.

The paradox here isn't that the boat isn't great. It is. Its that the bubble boat market is where the big money is going, and there are fewer and fewer people out there who appreciate the classic lines of a Hatt and who are willing to buy a 20 year old boat (even repowered) at a premium to the other boats in the series out there.

Repowers are never cost-effective. You can buy a 45C with the original engines in good condition for under $200k right now, which means sellers are taking $170-180 for those boats. A couple of those look pretty good for the money. Figure - at best - half the cost of the repower is recoverable, and you're probably in the ballpark of what you could actually get if you're willing to wait a year for it to sell. Take $20-25k less and you could sell it quickly. When you add in the insurance and other carrying costs to keep it for a year, plus the time value of the money, there's no argument for going for the last fistfull - at a market return $250,000 earns you $25k annually, so you're absolutely flushed economically if you price for the top of the market.
 
Not interested in selling, just curious. The only thing I have yet to do is replace the generator, AC, but they work fine, and a paint job to a modern color. Interesting that the boat will be in "almost" new condition, modern performance, somewhat modern interior, yet still valued as a 20 year old boat. The good news, is she is like new, and yet, I'm in for less then 1/2 then new cost. I plan on having her for a long time yet to come.
 
Good for you, George. Drive the wheels off her- well, not literally.
 
"Its that the bubble boat market is where the big money is going, and there are fewer and fewer people out there who appreciate the classic lines of a Hatt and who are willing to buy a 20 year old boat (even repowered) at a premium to the other boats in the series out there."

I guess some people would rather spend half a million on a 1 year old 35' glacier bay... sad indeed.

yachworld link

it's odd when you think about it, as convertibles are probably the boats that aged the least... when you look at an 80s Hatt convertible, it really doens't look dated at all when docked next to more recent models...
 

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