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post #1 of 4 Old 08-06-2002 Thread Starter
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Boat Budgets?

A group of four of us are looking to sail around the world for next year. We are looking at purchasing a boat and are looking for some advice. Any feedback on the following questions would be appreciated:

i) We are looking for a 50ft second hand boat. Comfort, safety and the ability to enter various regatta''s competitively are priorities. What budget do we need to allow for?

ii) Linked to (ii)...we were thinking of buying the boat in South Africa so that we can benefit from the weak Rand. Is this a good idea? Does anyone have any experience of purchasing their boat from SA?

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post #2 of 4 Old 08-06-2002
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Boat Budgets?

For grins, I just punched in 50-52 footers in Yachtworld and came up with over 600 hits. You should do the same and see the universe you''re talking about. Prices range from about $100,000 for something I consider suitable on up. That''s before upgrades of course. I suggest you guys come up with how much you want to spend for the boat, then allow at least another 25 percent or so (if not more) for upgrades. Then the resident experts on here can give you better advice. The dollar range will help whittle down that list of 600.

Some good boats in that list -- Amel, Hylas, Tayana, Swan, Hinckley, Valiant to name a few. Lots of custom boats, too. But my personal favorite is a Santa Cruz 52 in Sauslito for $550K. (See how easy it is for me to spend your money?) If that''s too rich, there''s a cool sounding Farr IOR 50 in New Zealand for $207K. Either of those will satisfy your speed requirement.

As for your second quesion, email Jeff H on here if he doesn''t chime in. He almost bought a boat in South Africa. But as long as the dollar stays strong (subject to instant change of course) you probably can get some good buys overseas. Probably also cheaper to outfit the boat, too. But then you have to go there and have living expenses during the work, etc. it can get complicated (expensive) in a hurry.

Good luck.
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post #3 of 4 Old 08-07-2002
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Boat Budgets?

Just to key off Mitch''s comment about not overlooking the potential expense of buying overseas, don''t forget to thoroughly research the following issues with the appropriate office of the SA Embassy:
1. Ability to avoid tax on the vessel, including how long you can keep it in SA before ''exporting'' (departing on voyage)
2. Ability to import yacht gear while avoiding duty, due to vessel being foreign flagged (SA may not have all the U.S.-compatible gear you might want to have installed)
3. How compatible is a given boat with your eventual destination (returning to the U.S.?), where you''ll want to resell the boat. 220V 50 cycle AC service will diminish its resale value in the U.S. but will incur costs to be refitted at purchase
4. What import duties would be levied on personal goods you and your crew will want to bring with you, assuming you''ll be ''in country'' for awhile; examples might include remnant boat gear, laptops & software, cameras, foul weather gear, and the list goes on.

This doesn''t touch on the interim lodging requirements or air travel expense.

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post #4 of 4 Old 08-07-2002
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Boat Budgets?

Having just bought a new boat in France i can say that it is difficult to get stuff to your boat . traveling back and fourth to SA might offset any savings ( 1 st look and survey) . my rule of thumb is that a package sent to my boat in France (regardless of size) incurrs at least $500- in brokers fees without the freight charges. a US broker charges $250- to complete the forms and the French broker charges the same to receive the stuff in bond. You then have to export all your shipments when you export the boat. another $1000- charge.

You then have to decide if you want the boat documented in the US. the chain of ownership could be a nightmare. If you are successful in documenting the boat and ever expect to bring the boat back to the USA you will also have to pay US import duty and possibly state sales tax.

you will also have to budget travel expenses traveling back and forth to the boat while you have it outfitted for your travels. you also have to deal with south african VAT on all purchases of stuff
for the refit while you are in SA.
my suggestion is to buy a boat in the USA and have it sailed or shipped to where you live and have it refitted near your home in some local waters.
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