Challenge to bljones and others

[davidpm]

Mr B your post “Show me the Money” got me to thinking. Just how could it be possible to distill the hundreds of years of wisdom of sailnet’s experienced members for those dreamers who have little or no knowledge and want to get started?
Mr. Jones hit on a significant point when he emphasized how important the finances are. Of course regulars here know the other basic questions. What are you going to be using the boat for and where, and what are your skills?
I think if might be fun to collect a many data points as possible so we can see what is actually happening in the real world.
If you would be so kind as to post your experience with a particular boat and situation and include the following information, in a short time we will have a potentially useful collection of stories.

• Usage the boat was purchased for: Lake, Sound, Ocean, Coastal
• Sailing credentials of owners: New, Some experience,
• Boat model year, cost (year of purchase)
• Cost to fit out for intended use (Any info you have on owner vs. yard work)
• Time from purchase to intended use (Any info you have the shorted or lengthened this time)
• Expenses for upgrades and repairs year 1,2,3 etc.

In all cases the newbie has been warned that the costs we are discussing do not include unless specifically mentioned, Insurance, Taxes, mooring, personal gear or dockage which can be substantial.
I’ll start out by listing the ones I know about.

[davidpm]

Usage the boat was purchased for: Coastal Long Island Sound day trips, some over-nights with two people

Sailing credentials of owners: Very Little

Boat model year, cost: Catalina 27, 1984, Cost about 15,000

Cost to fit out for intended use (Any info you have on owner vs. yard work)
He just started sailing it almost no cost. He has some trouble getting the engine to run right but a friend of mine helped him out for free, probably saved him 500 in mechanic fees

Time from purchase to intended use (Any info you have the shorted or lengthened this time)

As soon as the engine was sorted out he started sailing about two weeks.

Expenses for upgrades and repairs year 1,2,3 etc.
Year one he bent his boom, cost about 500 to replace
End of year one he hard grounded and had insurance fix it probably had to pay deductible I'm guessing 1,000
He sold it for about the same as he bought it so lost the broker commission.

In summary he had a great time for a whole summer.
Cost him I'm guessing:
4,000 for the slip
3,000 for boom, and hull damage plus some stuff I probably forgot
1,500 for broker fees
1,000 for taxes
So I'm thinking he got out of it for under 10,000 then bought a 30' Catalina

[davidpm]

Usage the boat was purchased for: Long island sound, overnites with 2 people, day sails

Sailing credentials of owners: Little over one year.

Boat model year, cost (year of purchase): Catalina 30 1984, 18,000 purchased in 2008

Cost to fit out for intended use (Any info you have on owner vs. yard work)
Time from purchase to intended use: Started sailing right away.

Expenses for upgrades and repairs year 1,2,3 etc.
Year one and two:
I can't remember any special expenses. Some engine trouble maybe 1,000 all together.

Sold boat after two years for a little less than what he paid for it.

[Faster]

OK, I'll play (this is going to be longish) Listed costs exclude normal upkeep/insurance/moorage.

Purpose: Coastal weekending/cruising/daysailing
Boat: Shark 24 cost ~$8K
Experience - zero beyond having been taken sailing a couple of times
Put no money into it.. several months later wife was expecting, I was informed the boat was 'too small'... (yay!)
Sold after 8 months for $7K (cheap sailing lessons/good summer/got wife truly hooked-priceless)

Boat: Viking 28 (C&C design from Ontario Yachts)
Purpose: daysailing, weekending, cruising, local racing
Cost: $16K
Used immediately, kept 10 years.
Costs: new sails ($3K spread over several years)
Sold for $9K after 10 years.

Boat Martin 242 - 24 foot dayracer, bought for round the cans racing but did occasionally cruise
Cost: $11K
Used immediately, with old sails to start
Costs: New sails ($5K over several years), repaint and bottom epoxy seal ($2K)
Sold 15 years later for $11K

Purpose: coastal cruising, occasional racing
Boat: Choate 40
Cost $68K
Used immediately, turnkey.
Costs: Never did buy new sails for it, New Dodger ($2K), did a major refit (Awlgirp topsides & deck, painted rig, anchor locker and lazarette access added, all DIY ($6K) Interior mods (also DIY - $2K) Complete engine overhaul DIY ($2.5K)
Kept 12 years, sold for $65K

EDIT: I should note that these last two were owned concurrently, with a partner family. We had the best of both worlds, in many ways....

Current boat, coastal cruising, extended holidays (6-8 weeks at a time)
Boat: Fast 345,
Cost: $45K (landed, taxes and duties paid)
Used immediately
Costs (to date): Quality dodger w/ all SS bows ($3K) New Autohelm ($1.5K), New Cushions and upholstery ($2.5K), Used Max prop ($1.5K once installed and working) Jib furler ($2.4K installed) New standing rigging ($1.6K)

... and that's where we sit now. Sadly I don't expect the good luck we've had with "ROE" that we had with some of our previous boats, but such is life.

[davidpm]

Usage the boat was purchased for: Long Island Sound, Day sails
Sailing credentials of owners: None
Boat model year, cost (year of purchase): Pearson 26, 1980 something, 3,500 bought 2010

Cost to fit out for intended use (Any info you have on owner vs. yard work)
This couple had no sailing experience but were very handy. They worked many weekends and replaced a lot of stuff. New motor, new electrical, lots of paint and work, cushions.

Time from purchase to intended use (Any info you have the shorted or lengthened this time)
They started using the boat right from the beginning but they probably put in 5 working days to every sailing day.

Expenses for upgrades and repairs year 1,2,3 etc.
I don't have the final tally but after two seasons I'm figuring they put at least an extra 5 to 7 thousand into the boat.

[davidpm]

Faster I'm borrowing your layout, like it better than mine.

Boat: Catalina 25, 1980 something
Purpose: daysailing, weekending, cruising,
Cost: 3,800
Bottom job and used sails and engine work before first use about 2,000
Used one season traded mooring for boat use is now for sale owner looking to get bigger boat
Costs: Only costs for the season were new jib sheets and some backstay hardware maybe $200
For sale now.

[davidpm]

Boat: Pearson Ensign, 1980 something
Purpose: daysailing, weekending, cruising, Liveaboard
Cost: 600
Lived aboard two summers and one winter (single 20 something guy) yes it is a remarkably small boat to live aboard.
Figured out you can't live in a boat and fix it up, took and apartment this winter.
Have no idea how much money he has in this boat but I do know he has weeks and weeks of hours.
He is about as experienced as you can get but the "while we are at it" problem is in full swing.
When it is done it will look better than new. New allgrip, new electrical, new rigging and sails, basically a new boat.

[sawingknots]

i've heard about the elusive boat profit thing but i've never saw the beast