Join Date: Oct 2007
Thanked 58 Times in 50 Posts
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How much should I offer for this boat
Some friends of mine have a 1975 Pearson 26. They have had the boat for probably four seasons. They used the boat very little last year and as far as I know not at all this year. They haven't said anything about selling yet but I would not be surprised if the thought has occurred to them. They have had two bad years. So my question is how to do I treat friends if they ask me if I want to buy their boat.
The problem is that they have put a lot of money into the boat.
The following is what I know about:
3,600 for the boat.
3,000 into depth, speed instruments, cushions, main-sheet blocks running rigging etc.
2,000 Roller fuller jib end of last year probably never used
2,000 New elect system
3,000 New outboard with remote control with I would guess 10 hours on it.
They did most of the work themselves and are very talented and did either a pretty good job or excellent over kill job.
So not including dockage and normal maintenance like paint etc they have a total of at least 14,000 into the boat.
The problem is it is a '75. And no matter what you do to a '75 it is still a very old boat.
If it was just some guy off the street I would figure the boat is worth 3,000 the 7,000 in upgrades is worth 1,000 and the outboard is worth 2,000.
That would bring the total to 6,000 which is pretty near the high end for this boat.
I really don't need a boat but they are my first students ever and I have a soft spot for the boat and all the work they put into it.
I might be able to get a couple years out of it and then I would have to sell. So the real question is even with all the upgrades if I paid 6,000 I'll bet I'll take a loss.
My friend has a sailnet account and may see this post so maybe you can set me straight on the pricing. Hopefully they will stick it out another year and not consider selling which is perfect for me. No decision necessary.
The lesson from the Icarus story is not about human failing.
It is a lesson about the limitations of wax as an adhesive.
If you have an engineering problem solve it.