Join Date: Aug 2001
Location: Noank, Connecticut, USA
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Re: Blisters on survey - Morgan 38
Rob - They don't sting at all, and I appreciate the input. I'm trying to make an informed decision, and your thoughts are valid. I only questioned because your comments on price were contrary to my research. I checked the NADA guides, too. I've read that NADA numbers aren't reflective of what the market really is. Again, conflicting opinions all over the internet.
I have no intention of paying $35k for this boat. If it didn't have blisters, and the rest of the survey was good, I would have. Only because the Yachtworld numbers from the last 3 years seemed to support this price. The owner was asking $44k pre-survey. Again, inline with other asking prices. Subtracting broker fees (since we're not using a broker), the average closing price over the last 3 years supported the $35k price.
Again, I'm looking for a bluewater capable boat in this price range. All boats are going to have issues/problems. Particularly those with the design/build quality for how I intend to use it. What I'm asking is essentially this... should I walk over blisters provided the owner will negotiate the price because of them? Will blisters, if properly addressed, still compromise the safety of the vessel?
No blisters on inspection doesn't mean that a boat hasn't had blisters in the past or won't have them in the future. I'd have to remove the bottom paint to verify.
Again, please keep the comments coming. I'm not offended by frank opinions. And, I'm certainly not trying to argue.
NADA values seems low to sellers and brokers
Lenders will look at the NADA value as well as the survey.
Here is an idea. Cold call a broker and offer him whatever he deems reasonable for an hours work (in cash) to look up and print out the actual sale price of every early '80's Morgan 38 that has been sold in the last five years.
Then walk into your bank and ask them how much they would loan you on the boat.
edit: I know the boat is older than 25 yrs so actually getting a "boat loan" would be tough. What I meant was just ask them in theory.
'88 C&C 30 MKII
Last edited by RobGallagher; 03-04-2013 at 10:05 PM.