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  #21  
Old 03-04-2013
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Re: Blisters on survey - Morgan 38

You really should find out how much these boats are selling for before you start discounting for repairs.

My quick search tells me the average retail is 26K-30K.

Here is my obnoxious opinion and some fun facts (feel free to ignore me);
1. Repairing these blisters is labor intensive and the cost of having a pro do it is going to be 1/3+ of the boats value.
2. According to you, the boat is only in "average condition" so we are not looking at anything special. So at 35K she's already 13% OVERPRICED.
3. IF you get a yard involved in all these repairs you risk entering their world, their time table, their employees. We have all been in that special plane of hell where nothing gets done or things get done wrong and you come back next year -10K but with more blisters and play the blame game. It's not worth the stress.
4. Too many other boats out there. This one is only worth the 15K and you do all the labor. Sorry, but it had to be said.

Offer them 12K, go up to 15K. They will act insulted. You will walk away. Start your search all over again. If nothing comes up in three months, call them back with the same offer. No one is going to jump on this boat with the engine and drive train issues, internal and external blisters. As others said, too many other boats out there.

The truth hurts.

Years ago someone spent a lot of money on her. Loved her and cared for her. Now they leave her sitting with blisters, a leaky engine, bent shaft and prop. They no longer care. She is no longer loved.

It's not worth it to them to do what needs to be done. Why? She is being sold so they can get something younger, nimbler, faster, sexier. So you have to pay in dollars, blood, sweat and tears because they choose to move on?

Tell them to find another sucker.
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  #22  
Old 03-04-2013
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Re: Blisters on survey - Morgan 38

Rob - Where did you find these prices? I don't remember saying it was in average condition. If I did, it was poor choice of words. It's certainly in much better condition than other bluewater capable boats I've seen in this price range. In a previous discussion I started on this board, someone else posted the last 3 years of Yachtworld asking/closing prices on this boat. $35k seemed very competitive.

These are currently for sale on Yachtworld: Morgan 382 boats for sale - www.yachtworld.com

Here is the other thread. Morgan 382 Value

Again, thanks for all of the comments! Keep 'em coming!

Ken
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Last edited by datswite; 03-04-2013 at 11:08 AM.
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  #23  
Old 03-04-2013
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Re: Blisters on survey - Morgan 38

Quote:
Originally Posted by datswite View Post
I'm considering the purchase of a 1981 Morgan 38. The survey was today. Overall, the boat is in above average condition with the following exceptions - and some blisters.

1. Bent blade on engine prop
2. Needs cutlass bearing
3. Needs prop shaft
4. Leaky seals on Perkins 4-108 (1440 hours)
4. BLISTERS

Here is my question. Should I walk away for blisters? Or, should I negotiate? The largest visible blister was no larger than a quarter and there were many (probably 50-75 - only on the starboard side).
I took the liberty to hi-lite. You did say above average, sorry.

http://www.nadaguides.com/Boats/1981...0123762/Values

Either way, I knew my words would sting. Take them at their worth to you.

I recently had two boats surveyed, identical model racer/cruisers, 1988. Both started at just under 40K.

Boat A made an offer of 30K before survey, upped it to 32K, pre survery, both offers rejected.

Boat B made an offer of 32K pre survey. Post survey boat was offer of 22K, rejected.

Returned to boat A months later and paid for a survey. offer of 27K was accepted immediately.

Boat B one year later is listed at 26K

Lesson here is what people are asking is seldom related to the boats actual worth.
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Last edited by RobGallagher; 03-04-2013 at 11:14 AM.
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Old 03-04-2013
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Re: Blisters on survey - Morgan 38

David Pascoe has performed over 5,000 marine surveys, both pleasure craft and commercial. I'd trust his credentials ... here's links to some of his articles on BLISTERS!

Hull Blisters on Boats and Yachts - by David Pascoe, Marine Surveyor

Buying a Boat or Yacht : Buying a Blister Boat

David Pascoe, Marine Surveyor
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  #25  
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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.
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Last edited by datswite; 03-04-2013 at 11:42 AM.
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  #26  
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Re: Blisters on survey - Morgan 38

Quote:
Originally Posted by datswite View Post
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.
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Last edited by RobGallagher; 03-04-2013 at 10:05 PM.
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Old 04-18-2013
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Question Re: Blisters on survey - Morgan 38

Great questions Capttb!!
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  #28  
Old 07-12-2013
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Re: Blisters on survey - Morgan 38

I just realized that I never followed-up with this post!!

I decided to buy the boat. The seller was willing to negotiate the selling price a bit - he wasn't going to pay for a peel, but his price certainly will offset the cost of me doing it myself. We closed the deal in mid-March, and I delivered her to her new home in Cobb Island, MD.

I've taken her on several trips in/around the tidal Potomac over the last few months, and I love her! Pre-cruise preparations will begin when I haul her for the winter. As it stands, I plan to move onboard in the summer of 2015 - with a mid-Atlantic departure following the hurricane season.

Here she is after her bottom job - Fall 2012

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Last edited by datswite; 07-13-2013 at 08:13 PM.
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  #29  
Old 07-12-2013
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Re: Blisters on survey - Morgan 38

Peal??? Not necessary. geeze! Grind and do barrier coat. It's tough. really tough. Pretty boat!
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Old 07-12-2013
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Re: Blisters on survey - Morgan 38

My newish boat had a fair number of blisters found during the survey. Seriously...not a big deal. No freakin' way I'd pay to do a peel.

When I was having the standing rigging replaced, I saw a boat at the yard that was in the midst of a peel. It had been in their "garage" for almost a year drying out, with the bottom ground off to the bare glass. Looked like a Pearson.

They'll pay tens of thousands for that work, then have blisters in another 10 years. That's just the price of keeping a boat in warm water for years on end.

Denise is right - just manage it with barrier coating.

Great looking boat Dat.
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