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  #11  
Old 10-09-2012
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Re: Im buying a big boat! But i have never sailed

I think you're putting yourself in a bit of an awkward position... however nice the boat may be, the valuation is suspect, ferrocement can be difficult to insure. It's tough to get into a deal with a 'friend' or relatives of a friend, and avoid paying too much or buying into something that might not be appropriate. How long has the boat been ashore now?

50K (Dollars?? or Pounds??) is a chunk of change that will buy a lot of (perhaps other) boat..... just sayin'.....
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Old 10-09-2012
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Re: Im buying a big boat! But i have never sailed

Quote:
Originally Posted by seaboy View Post
it was valued at 88k in 2004, and i know the guy has spent around 150.000 on it over the years as he still has all the recipts, its a nice boat and every thing that has been done onit is of the best standard, although his taste in the colour scheme of the boat is not the best, i will redo all that!
That means nothing, both things. you can spend 200 000 over the years on a boat and still the boat can not worth more than 15 000.

Nobody wants that kind of boat (ferrocement) and it will be hard to sell for any price.

I guess that before buying a boat you should learn something about boats, not to mention, learning to sail.

Somebody said it would be hard to insure: Guess why.

Regards

Paulo
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  #13  
Old 10-09-2012
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Re: Im buying a big boat! But i have never sailed

[QUOTE=Faster;931419]I think you're putting yourself in a bit of an awkward position... however nice the boat may be, the valuation is suspect, ferrocement can be difficult to insure. It's tough to get into a deal with a 'friend' or relatives of a friend, and avoid paying too much or buying into something that might not be appropriate. How long has the boat been ashore now?

it has all the lloyds certificates and has been insured for years now, its only about £180 per year to insure 3rd party fire and theft, i have seen the policys, the last time it was surveyed in 2004 they valued it at £84K i think, something like that any way.
it was also surveyed during and after it was built, as i said i think i probably am paying a little over the odds for it in todays economy but i am getting free housing for a year whilst i do the things i want to do to it, I.E flat screen tvs in built dvd palyers and the likes, recovering the seats/ beds in white leather ect, its ok as it stands its just not my taste, the boat has been out of the water for 12 months now! is that a problem?
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Re: Im buying a big boat! But i have never sailed

Quote:
Originally Posted by PCP View Post
That means nothing, both things. you can spend 200 000 over the years on a boat and still the boat can not worth more than 15 000.

Nobody wants that kind of boat (ferrocement) and it will be hard to sell for any price.

I guess that before buying a boat you should learn something about boats, not to mention, learning to sail.

Somebody said it would be hard to insure: Guess why.

Regards

Paulo
i have to disagree with you, i have talked to F/C boat owners and they wouldent have any other type of boat if they have got a good F/C, the fact is they can take a beating unlike flimsy glass boats, and another good thing for me is that this one has a twin keel, so when i beach it in low tide which i probably will do, it will stand upright until the high tide comes back in ! happy days, in fact a think its the perfect boat for a beginer, i can bounce it off the dock and beach it all in the same day with little effect to the boat.
as for insurance, it has been insured for years with no problems.
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Old 10-09-2012
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Re: Im buying a big boat! But i have never sailed

Quote:
Originally Posted by seaboy View Post
i have to disagree with you, i have talked to F/C boat owners and they wouldent have any other type of boat if they have got a good F/C, the fact is they can take a beating unlike flimsy glass boats, and another good thing for me is that this one has a twin keel, so when i beach it in low tide which i probably will do, it will stand upright until the high tide comes back in ! happy days, in fact a think its the perfect boat for a beginer, i can bounce it off the dock and beach it all in the same day with little effect to the boat.
as for insurance, it has been insured for years with no problems.
It sounds like you already know what you are going to do and want your decision validated.

People on sailnet might be a little conservative for my liking, but they are usually right. Especially when they are all in agreement.
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Old 10-09-2012
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Re: Im buying a big boat! But i have never sailed

Consensus of the respondents is:
1. Ferro is not a great idea and there is a reason why they are no longer built. F/C is not "flimsy", by the way.
2. Insurance will be difficult to obtain. Note that fire and theft insurance is not what's being discussed - insurance for damage to your or other's vessel is different
3. Sailing to Italy in this boat, with you current level of experience, is not a good idea. The Bay of Biscay can be brutal.
4 The boat is probably being offered at a much higher price than is warranted, regardless of how much has been put into it. Comparable sales don't seem to warrant a $50k asking price.
5. A pre-purchase survey by a surveyor experienced with this material is mandatory.

I will note that SailNet members have a great deal of experience in these matters and are providing honest, unbiased opinions. However, every concern has been met with what appears to be opposition so I suspect that your decision is already made.
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Old 10-09-2012
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Re: Im buying a big boat! But i have never sailed

Mate, all you are looking for is for somebody to tell what a good idea it is. You are seemingly not even vaguely interested in listening to anyone who casts some doubt on the wisdom of buying the thing, particularly at that price.

Tell you what, go find yourself a bunch of steel boat owners and I'd put money on pretty much all of them saying that nothing beats steel just like the ferro owners .... jaysus man , there are probably people out there who would still swear blind that Morris Minors were better cars than the Toyotas and Nissans (Datsuns) that put Leyland to the sword. Doesn't matter how adament they are, they'd still be wrong.

Sure there are good floating footpaths, just not very many and even those that are superb have crap resale value and are monumentally difficult, if not impossible to comprehensively insure. You do understand what third party property insurance is don't you ? You are not insuring your boat. You are insuring against smashing up someone elses boat. Big difference.

Anywho, good on you. You've already decided apparently so don't let us tell you that you are probably paying 20.000 (preumably UK pounds) over the odds for a boat that no one else wants but hey, the other bloke is in poor health and despite the fact you are not a wealthy man you are going to help him out. You are storing up some really meaningful karma for the future .... presuming you believe in such tosh.

Advice ? Reach into your pocket and pay to have the thing surveyed and valued. Now. Not in 2004. If you are not happy to do that then figure out how long you really have to pay it off and how much you are saving by not having to pay interest. If the interest you will not have to pay is greater than at least 20% of the asking price then maybe just maybe you have a good deal. Oh yes , and I sincerely hopes that if your dad's mate carks it before you have paid him off that the estate does not have the right to demand full balance payable imediately.
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Old 10-09-2012
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Re: Im buying a big boat! But i have never sailed

Seaboy,

In your original post you state that you are not a rich man. Have you considered what kind of ongoing costs you are taking on? The purchase price of a boat is just the beginning. You can expect to spend thousands more in ongoing expenses such as moorage, maintenance, repairs and insurance. It is not cheap to own a boat, and the bigger the boat the bigger the bills!

I won't speak to the value of the boat, although you can get some very nice boats for the money you are contempating! Just go to Yachtworld.com and use the search engine to look at boats in that price range! I am sure the current owner is the one who convinced you that it is superior to fiberglass, but it does beg the question...Why don't they make Ferro boats anymore?

p.s. I did a quick search of yacht listings in the UK, using a price range of 0-100,000 pounds and there is exactly 1 ferro boat on the market: a 35 footer built in 1980 for 11,000!
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Last edited by SchockT; 10-09-2012 at 10:00 PM.
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Old 10-09-2012
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Re: Im buying a big boat! But i have never sailed

Ok Boy:
You are a kid. I lost my son 16 months ago. I like kids. I like you already.
Pay attention
Pay attention
to the good advice you are getting here. We want you to have a great sailing experience.

But you are a kid,
You make the bold move. I'm sure that the rest of us here will have your back. You can at least count on me and I'm sure the rest of us are lined up to help.

If it is a mistake then in time you can look back and say, "Boy, was I stupid." I have said that several times and I am still being stupid. It's what you do as you are growing up. Embrace it and trust your self confidence. The world will beat you down whe the time is ripe. Be a survivor.

Then, you can fly to Seattle, rent a car, drive the 2 hours north to my beach shack and we can reflect. I have a room waiting for you. I look forward to that day.
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Last edited by bobperry; 10-09-2012 at 10:20 PM.
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Re: Im buying a big boat! But i have never sailed

go here The World Of Ferro-cement Boats and go to boats for sale and you will not find any that are over 50K pounds. and there are some 65 footers for less then the one you are looking at. but if you won't listen to other guys on sailnet you should listen to MR. Perry
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