Upgrade after 1/2 season? - SailNet Community
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post #1 of 16 Old 04-15-2019 Thread Starter
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Upgrade after 1/2 season?

Hi everyone. I need some input from some more seasoned sailors. I purchased an Irwin Citation 34 about the middle of last season. We used it quite a few times and had a great time. Anyway, it is a good boat, but leaves a bit to be desired. This spring while she was on the hard and I was cleaning her up for the season I spoke to a guy who is trying to unload his boat, a Pearson 365 as he is getting older and can't afford to keep up with his current boat. He bought the boat last year after it sunk as a salvage. They guy who owned it before him apparently was very particular about his boat and it was in really good shape. The boat was only totaled due to the obvious engine issues. I've toured the boat and it is in better shape than mine with no evidence of water damage. All the major issues I've read about have been addressed.

The current owner has rebuilt the engine, all that is left to do is finish the top end/head assembly. What he is asking for the boat is a really, REALLY good price, even if I had to rebuild the engine from the ground up again. My problem is if I go for this, I'd have to sell my boat, which I already paid the slip fee for. I'd have to pay to store two boats until I get one sold and I'd have to either finish up the engine myself or pay someone to do it.

Any advice? I'm here and I own a boat so I'm obviously used to the money faucet turned on at all times, but I don't want waste money either.

What would you do in my situation? Thanks in advance.
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post #2 of 16 Old 04-15-2019
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Re: Upgrade after 1/2 season?

Classic problem.

You know you came to the bar, with a question best for an alcoholics anonymous meeting. Here youíll be told to buy three boats. 🙂

Really though, there is no good reason to own two boats at the same time. If you can afford it and the new boat is the right boat for you, itís certainly been done by many of us before. If you press ahead, Imwoild want to be comfortable that I could deeply discount the old boat to move it, then hope for upside. As opposed to be grossly disappointed with how long it takes to sell.

As a parallel, I made an offer to buy another boat last Fall. I called my friend, who had expressed interest in my current boat, and offered it to him at least 25% below market value. He accepted and it was better to get it done, IMO. Unfortunately for everyone, my purchase fell through.

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post #3 of 16 Old 04-15-2019 Thread Starter
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Re: Upgrade after 1/2 season?

Thanks for the response!

Apparently I'm good at making costly mistakes so this wouldn't be anything new. I figured I could sell my current boat well below market value and still come out ahead.

Things never go that easy though.
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post #5 of 16 Old 04-15-2019
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Re: Upgrade after 1/2 season?

It is the right time of year to sell your boat. But.
Is the P365 really going to change your life? If it flooded or sank, there will be more damage than you think. Every inch of wiring and all electrics that were flooded will be slowly but certainly rotting out, even if they work now. You've got no idea how good an engine job the other guy did--and that's only partly done. You will be lucky to get in the water by August, if you do the deal now and work fast. That's just assuming the usual "everything takes 3x longer on a boat" repair schedule.
If you consider all that, have your eyes open, and really crave the P365...by all means.
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post #6 of 16 Old 04-15-2019
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Re: Upgrade after 1/2 season?

'I'm obviously used to the money faucet turned on at all times'. If this is your attitude towards boat ownership, go ahead and buy a salvaged second boat; you can't be disappointed.
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post #7 of 16 Old 04-15-2019
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Re: Upgrade after 1/2 season?

A salvaged boat being sold unfinished by a short-term current owner who appears to be cutting his losses? What could go wrong?

If he is smitten by this boat, the OP would be well advised to pay for a legitimate survey before taking this any further. Then he might get a feeling for what is really ahead.
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post #8 of 16 Old 04-15-2019
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Re: Upgrade after 1/2 season?

No, never own two boats at the same time especially if they are 2,000 miles apart.

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Re: Upgrade after 1/2 season?

not enough info but I'd say go with the devil you know, not the one that sunk.

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post #10 of 16 Old 04-16-2019
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Re: Upgrade after 1/2 season?

The boat sunk! that is a real problem. You and a surveyor can inspect all you want but never see everything. As above the electrical system, all the wiring, all the connections, fuses, ect all can be and will be a problem down the road. Now let's talk about the interior where you can not see readily where moisture got into every nook and cranny - you can not dry them all our and eventually mold mildew and rot can take over and you will find it at the worst possible time -

I would run from a boat that sunk but that is just me.

Just our thoughts and opinion
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