Estimate for Morgan 382 refit - SailNet Community

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Old 04-16-2010
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Estimate for Morgan 382 refit

I'm trying to get a feel for the costs of various refit jobs. Here is a Morgan 382 for sale:

1978 Morgan 382 Sail Boat For Sale - www.yachtworld.com

The listing says:

1)Needs Bottom paint
2)exterior cleaning and varnish,
3)Some interior water damage around ports.
4)The bimini and dodger need restitching
5)running rigging needs to be replaced

I'm looking for rough estimates for the cost of each of these items, specifically 1 and 5.
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Old 04-16-2010
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Would you be doing the work yourself or hiring a boatyard to do the work. Boatyard labor is about $90 / hour and up, so it will greatly affect the prices you see.
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Don't try and get into too much detail.....

IMHO have 15% to 20% of the purchase price available (on boats under $100K) immediately after purchase to get the boat up and running and 10% per year after that and you won't suffer too much. Buying the boat is often the cheapest part of the deal.

If you want detail - Bottom paint $800 to $1500.
Running rigging - $500.

Add cutlass bearing, engine work etc. $1K
Refrig work $500
Yard bill - $$$$
Standing rigging - chain-plates etc etc. ahhhhggggg!!!!!

Adds up bloody fast. As the say in Europe when buying a Jaguar car - "if you have to ask how much it costs to fill her up, you can't afford her".

Love the Morgan 382 - Ted Brewer Design

Its in this book

Twenty Affordable Sailboats To Take You Anywhere
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Old 04-16-2010
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Quote:
Originally Posted by sailingdog View Post
Would you be doing the work yourself or hiring a boatyard to do the work. Boatyard labor is about $90 / hour and up, so it will greatly affect the prices you see.
Yes, I'll be doing a lot of the labor. However, stuff like redoing the standing rigging is certainly beyond what I can do myself!
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Old 04-17-2010
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Running rigging will depend upon the line you choose I have 1500-2000 in the lines for my 30' boat. BUT, none of it is sta-set, all of it is two steps up in less stretch/strength lines. So double the cost per foot, I could see this much easy for a 38' boat depending upon which lines you need to replace.

If you have a vinyl hull liner with foam backing. I spent over $1500, closer to 2G for all new liner.

Cushions were 10-12K. Then again, one could have done it for about 5G hired out, to as little as 2G yourself.

Bimini, might be easier to replace, depending upon the condition of the material. figure 2-3G for that hired out, not sure you do.

Bottom paint, I'm usually 700-800 including hauling for my 30;r, much less a 38' boat, places charge by the foot typically. I'm 1.25 gals, for a fin keel, if a full keel, figure 2 gals for a 20'r, your boat maybe double this. Paint is 125-225 or there abouts per gal.

Water damage, who knows!

People say 20% of cost for refit, NOT! it should be more like $1000-2000 per foot potential! Of course it depends upon what you want to do, how cheap you get the boat...........

I could see 30-50K for a 38' boat easy!

marty
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I'd point out that it is often far less expensive to buy the same boat in better shape than it would be to buy a boat and re-furbish her....

Depending on your financial status and what you're planning on doing with the boat, getting a two-percenter boat might be a better option. Two-percenters are the boats that have been meticulously maintained and cared for and often require very little in the way of refurbishing or upgrading. They tend to not stay on the market for very long and can be difficult to find.
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Old 04-17-2010
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I have never heard of 2 percenter, but I was lucky enough to buy both my boats that way. If you think you can't do the standing rigging then you should learn, because it's pretty darn simple. The amount of money you will save will pay for a descent new dink, or some other new items. This Morgan is a good boat. BEST WISHES if you purchase her.........i2f
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Old 04-17-2010
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I would focus in the WATER damage and deck condition and what type of core material was used as these are the big money take the whole boat apart to fix items with potential massive cost



looking at the picture of the motor area i see a LOT of that could cost a lot of money to fix stuff
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Old 04-17-2010
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Thanks for the replies. Couple very helpful ideas. I kind of like the 10-20% rule plus 10% each year. It is at least a nice ballpark.

I haven't looked at this boat (yet). Just been looking at a few of the Morgan 382s on YachtWorld. I think one of my big questions was answered by SD -- is it generally cheaper to buy a big project boat (at a discount) or buy something closer to "ready to go."

For example, here is a 382 that appears much closer to being ready to go.

1979 Morgan 382 Sail Boat For Sale - www.yachtworld.com

I sure do wish I didn't live in the middle of the country where there just aren't many examples to look at.
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The items you mention are not "refit" but rather routine maintenance. A boat that needed only those repairs would be termed mint.

Those are penny-ante expenses, that if you feel the need to question the cost, then you may not be ready for the "refit" items, as they are really expensive, say for example:
1. replace engine - $12,000
2. properly fix a wet deck - $15,000
3. Fix a wet cored bottom - $12,000
4. replace fuel tank -$4,000
and on and on...

SD is 200% percent correct that the cheapest way to own a good condition yacht is to pay a premium to buy one already redone. A seller is lucky/happy to get back half of what he/she may have poured into a boat...if you think you'll go in cheap and just fix-it-up, then most likely somewhere down the road, YOU awill be one of the sellers hoping to get back half of what you poured into the floating money pit.
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