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post #11 of 16 Old 04-16-2019
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Re: Upgrade after 1/2 season?

Wow, I read past the sunk part entirely and only grabbed onto the idea of owning two boats. Obviously, the warnings related to that, as opposed to simply being a fleet owner are warranted.

Two thoughts on the sinking.

First, there is a major difference between a fresh and salt water sinking. A short fresh water submersion can be addressed much more effectively (still a bad thing). That still requires a quick recovery, properly drying out, disinfecting, etc. Gallons of WD40. I wouldn't touch a salt water sinking, unless it was gut to the bones and refit entirely.

Second, I don't care how perfectly she's been salvaged, she'll always be a salvage. That substantially reduces demand, when you attempt to sell, which extends the sales lead time and lowers the price. If you buy it right, you could be fine, but that's hard to know.

Finally, since this boat hasn't been sailed at all, since her sinking, you have absolutely no way to know what to expect and neither will a surveyor. Surveys only observe the present, they do a poor job of predicting the future.

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post #12 of 16 Old 04-17-2019 Thread Starter
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Re: Upgrade after 1/2 season?

Thank you again for all the responses. I'm really torn on this one. I spoke with the boat mechanic at my yard and he said that the boat is one of the better examples of the model he has seen and that he knew the previous owner and that he was meticulous with the boat. On the other hand, she was sunk in brackish water for a short period of time. Even though the boat is super clean with no signs of any superficial water damage, who knows what lurks. I was told replacing the head on the engine would be a one day job if hired out... so 5 days for me.

The current owner wants $5k for her as she sits. The boat is very clean and there is no evidence of the sinking. The slip for my boat is paid for for the year but has a max length of 36'. Hard storage for the Pearson is $400/month where it is now.

Here's some other details I was given:
Sails are good, genoa fairly new
Engine has <400 hours on it - Yanmar 3jh3e
Fuel tanks replaced with stainless
some upgrades to the rigging
I walked the boat, no soft spots on deck
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post #13 of 16 Old 04-17-2019
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Re: Upgrade after 1/2 season?

So, it got salt water in all the electrical connections and systems (brackish is still salt). 100% would need to be replaced for my satisfaction. You also have no idea how that engine will run, with itís had back on. What if compressions are too low or the cylinders are compromised.

There is a reason itís cheap. Itís a project boat. Most projects boats are nightmares, some work out.

Good luck on the call.

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post #14 of 16 Old 04-17-2019
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Re: Upgrade after 1/2 season?

Can you afford to have two boats for the time it will take to sell one of them. Don't know your market but we are in the prime selling season for boats right now. Unfortunately, the boat market hasn't been hot for some time and selling a boat could take some time. Usually it's a matter of offering the boat at an attractive price for it's condition. Might want to feel out local brokers and see what they think a realistic sales price is and the market in general. If you can live with the net sales value of the boat after commissions and there is a good chance of selling the boat quickly, owning two boats won't bankrupt you if your boat doesn't sell for a year, and you have a need for the bigger boat I'd lean to going for it.

Of course you want to get a good surveyor involved. Other peoples opinions of previous maintenance and condition of equipment doesn't mean squat. You've got to haul out and inspect each sail, test all the equipment, and enlist professional help for the rig, engine, etc if you don't feel confident in doing it yourself. How sunk was the boat?? If there is no visible signs of the sinking, it wasn't underwater long and if it was in very low salt content water, there are probably no great problems. Realistically, any boat that's been at sea in more than ideal sailing conditions will essentially have had a salt bath from the salt laden air. Wiring is your biggest concern but it can be redone for relatively small expense but a lot of time. Wiring is not rocket science until you get into electronics and those are probably toast or outdated in any case. Pulling the head, having the injectors rebuilt and doing a valve job is not that costly or difficult an enterprise. As in most sail boats, access is the biggest problem doing engine work. At 5k price, you could put $20K into the boat and still be well ahead. So the real question is do you need a bigger boat and can you easily withstand the monetary hit if one of the boats doesn't sell quickly?? Then again you could be like me and have two boats 'cause you have two slips to fill.
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post #15 of 16 Old 04-17-2019
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Re: Upgrade after 1/2 season?

For me, it would be hard to make this decision. It would come down to how much work and money the new boat would take to make good. In this case that is somewhat hard to know. Although, some of the big $$ items like sails and engine are a known factor. Everything else, like wiring, may come back to haunt you. It is hard to pass on, what may be, a very good deal on a nice boat.

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post #16 of 16 Old 04-17-2019
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Re: Upgrade after 1/2 season?

I've done three total project boats.
I should have been put in a straight jacket after the first one. The one I'm on now has taken four years and cost (conservatively) three times what I paid for it.

The difference is I have several marine certifications and knew exactly what I was doing was was willing to take the time and financial hit.

For someone without the knowledge and experience these boats are almost certainly a financial disaster.

The hysterical laughter you hear as you drive a way in your"new" boat ..... is the seller.
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