Fair Price?

[luannelong10]

I''m thinking about buying a 79 Cape Dory 25. The seller is asking 7000, but I''m not sure if this is a fair price. The boat has never been i salt water (so the owner says) and if bought will be in a fresh water inland lake. The sails and motor are oringal, and the boat is very clean and teak work is very nice.

[Jeff_H]

It is really hard to tell you whether this is a fair price without seeing the boat and its inventory. Off hand it sounds like a reasonable price. These early Cape Dory 25''s were not as well built as the later Cape Dories that gave the company its reputation. This is roughly a 25 year old boat. If the prior owner has not done this, the boat probably is need some combination of:
· Replacement of sails, chainplates, mast step and associated suporting structure, standing and running rigging that are beyond their useful lifespan,
· an engine that is in need of rebuild or replacement,
· worn out or out of date deck, galley, and head hardware,
· worn out upholstery,
· Out of date safety gear
· electronics that are non operational, or in need of updating,
· electrical and plumbing systems that need repairs, upgrades to modern standards or replacement.
· Blister, fatigue, rudder, hull deck joint or deck coring problems
· Keel bolt replacement (bolt on keel) or delamination of the hull from the ballast for a glassed in keel.
· And perhaps a whole range of aesthetic issues.

This brings the value of these older smaller boats, if they have not had long term maintenance, down to a pretty low level. If for example this boat needed new sails, and engine rebuild, a new knot meter, battery, and some deck core repair, that would more than equal the value of the boat with all of these things brand new.

Other factors include, 1979 was the heart of the worst period for blistering and fresh water, especially warm fresh water as is found in southern lakes, is much more likely to produce blistering problems than saltwater.

I do not believe that fresh water use is automatically means much on a boat this age. A salt water boat is more likely to have had its long term maintainance items addressed by this time simply because they had to be. Also geography plays a big role as well. Northern boats have less use and more maintenance time than southern boats.

Boats located on small lakes are often worth less than boats on the Great Lakes or the coast because of the cost to transport the boat to a body of water suitable to the new owner.

One last point, most small inland lakes lack the kind of wind to make this particular model a very good choice. These boats offer mediocre performance in light wind or a chop, which are often prevailing lake conditions.

Respectfully,
Jeff

[luannelong10]

Jeff, Thank you for the info on the cd25. Very helpful! Luanne