Join Date: Jul 2000
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Purchasing through Charter Programs
Purchasing through a charter company can be a mixed blessin'' but as JeffH states, he''s seen the worst. I''ve seen both worst and best and bought a 1994 40 foot Beneteau from a charter company 2 yrs ago. This was my very first boat for those who are afraid of a larger first boat. JeffH again is correct, 36 ft to 40 ft can be quite manageable if set up right.
The necessary repairs & rebuilds were less than $2500. I paid well below retail and put another $12000 worth of upgrades into the boat. The kind of upgrades most people put in almost any boat - multistage battery charger, 3-blade feathering prop, new mainsail, stripped off all the bottom paint, repalce with new barrier coat and antifoul, changed some running rigging (to 3/8" Samson Warpspeed) and upgraded the Lewmar Ocean series traveler system to the Lewmar racing series.
I recently sold the boat (for less than normal retail) and made $30,000 profit. The new buyer has a boat "where the owner already made the repairs". I''m now looking for another ex-charter boat. A 1995 Beneteau 42s7 caught my eye.
Like anything you buy, you must look hard and be somewhat informed or at least guided. I''m so thrilled about my experience, that I just formed a company to buy ex-charter yachts, restore them to "like new condition" and resell them at slightly less than fair market providing the buyers with a limited warranty.
The charter fleets sell litteraly hundreds of 5 to 7 year old charter boats every year. There will be some real clunkers and there will be some real winners. Just do your home work and be patient. Also be ready to buy - the good ones go very quickly. I missed out on 5 good boats before getting this last one because I couldn''t move fast enough. have your cash ready!
If I can be of any further help you can e-mail me at CaptainRonBVI@aol.com