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Older yachts---how bad of an idea?

post #1 of 20
3/7/08 at 8:17pm
Thread Starter 
How much of a potential money pit is an older yacht (e.g., a ~40 ft Hatteras Motor Yacht from the 70s)? The use would mostly be as a docked live-aboard, but with some local transit.
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post #2 of 20
3/7/08 at 8:22pm
Depends on basically how sound it is, and how much of a new-boat appearance you want.

For classin wooden boats, figure annual maintenance of 25-30% of cost. Which is why they cost so much less than new boats.
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post #3 of 20
3/7/08 at 8:28pm
I beat others to the punch...

The topic of yachts came up and Morgan's neighbor said, "I understand that
you own a yacht, Mr. Morgan."
"Yes, I do." Morgan replied.
"How much does it cost to run?" his neighbor asked.
"Why do you ask?" Morgan inquired.
"Because," his neighbor replied, "I am interested in buying one."
"My good man," said Morgan, "if you have to ask how much it costs
to run, my answer is: Don't buy one!"

The old joke is that the happiest day of a boat owner is the day he buys the boat and the second happiest is the day he sells it...

But seriously a boat can be a major money pit. Concordia addressed the costs associated with the boat. Most docks don't allow live-aboards with zoning which requires more services. The costs for a dock can easily hit $1k a month...
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post #4 of 20
3/7/08 at 8:32pm
Thread Starter 
Quote:
Originally Posted by vc2000 View Post
The costs for a dock can easily hit $1k a month...

That much I've looked into. But in terms of having one inspected, or estimating future repairs, I'm out of my league.
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post #5 of 20
3/7/08 at 8:38pm
Two happiest days in a boat owners life?

1. Day he buys it.
2. Day he sells it.



Oops. Someone beat me to it. Better to rent imho.
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post #6 of 20
3/7/08 at 8:47pm
Quote:
Originally Posted by Artisan Fan View Post
Two happiest days in a boat owners life?

1. Day he buys it.
2. Day he sells it.



Oops. Someone beat me to it. Better to rent imho.

I don't know... My father loved his boat. He was very sad to sell it. Anyone buying a boat should be honest about why they want it. If you've got lots of money to blow, then it doesn't really matter. For most people, it will eat in to other areas of their life. My father used to live on the boat during the summer, so it was worth the costs. Of course, what he enjoyed was sailing, not owning a boat. Some people just like to own a boat so that they can say they have one. I had bosses a few years back that had purchased one together and they NEVER used it. At most they took it out a couple times per summer. It was a 40ft motor boat iirc. They finally sold it for far less than they had paid for it, and of course it drained money from they pockets while they owned it.

It sounds like you want to get some use out of yours. It could be pretty cool to live on a boat, but it would have to be some boat imo.
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post #7 of 20
3/7/08 at 9:19pm
My father's boat transformed him from a Type A volcanic jerk into a Type AAAAAA++++++ near-homicidal psychopath. Buyer beware.
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post #8 of 20
3/7/08 at 9:48pm
Quote:
Originally Posted by Manton View Post
My father's boat transformed him from a Type A volcanic jerk into a Type AAAAAA++++++ near-homicidal psychopath. Buyer beware.

You still have daddy issues?
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post #9 of 20
3/7/08 at 9:54pm
Quote:
Originally Posted by GQgeek View Post
You still have daddy issues?

He just got a new boat. You want to go out to sea with him?
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post #10 of 20
3/7/08 at 9:59pm
Quote:
Originally Posted by Manton View Post
He just got a new boat. You want to go out to sea with him?

That depends. What kind of boat?
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post #11 of 20
3/7/08 at 10:01pm
Nordhavn. Sailing days are over. He wants to circumnavigate the globe.
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post #12 of 20
3/7/08 at 10:35pm
That's cool. I hadn't heard of nordhavn but I looked at their website and they've got some pretty cool boats. They look like workhorses compared to the streamlined yachts i normally see pictures of.
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post #13 of 20
3/7/08 at 10:38pm
They are the Hummers of the sea.
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post #14 of 20
3/7/08 at 10:44pm
So let me ask... Are those fancy-looking italian boats not really suitable for rough seas? Are they more for looking good docked or a day trip than being put to hard use? Not that I'll be buying either in the near future, but it makes me wonder.
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post #15 of 20
3/7/08 at 10:47pm
I don't know. I've only been out on the open sea on Navy ships and ocean liners. I've sailed SF Bay many, many times, and cruised the CA coast a lot, but never ventured farther out than the Farallones or the Channel Islands or Catalina.

This is papa's experiment, and he is welcome to it. Color me skeptical.
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