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Discussion Starter · #1 ·
I want to get some opinions as to the value of a 50% partnership interest in a pretty cherry 1980 Islander bahama 30'? I need to repower and I don't want to spend the $ for a beta 16 100% myself. The boat is Dana Point CA and all sails, mast paint, rigging and blocks are less than 3 years old. Bright work is good, hull and topside still shines with wax. Standard blister of islanders. Overall a very clean boat.

My plan is to repower with a beta 16 and add a new auto pilot, it I can find a good partner. Is my idea unrealistic ?

If not what would be a reasonably value?
 

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Not having seen your boat, I'm in no position to value it.

With regard to whether what you suggest is realistic, it sure doesn't sound like it to me. Not how I want to own a boat. I've heard that some folks manage to do partnerships, but people do all sorts of things I'll never comprehend.
 

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the problem with what you suggest sounds like what you want is $$ for a repower despite it actually being a decent option for someone not wanting to own a boat and its associated costs...

for example some might like the idea of partnering into a fresh repowered boat as they will think so as being more safe than an old ratty looking atomic 4 for example

the issue I see here is that you are asking for a partnership BEFORE the work has been done

my advice would be to scope out partnerships for engineless sailing at the moment if you get any bites tell them your plans but dont start off like with your first post here...

it will more than likely scare off any potential sailors since right or not it sounds like you want $$ for a repower and autopilot

now

here is a left field scenario

offer 50% of your boat by offering to co sign the title...provided that person helps you with the repower...if either wants out of the deal he she would have to no matter what get the other partner to agree...meaning that your partner is really an owner so it might be more worth it to him to invest right off the bat...

however from experience these scenarios rarely ever exist, especially in todays very cynic and un beleiving society where every single question or thought is considered a scam...

just my cents

ps. a mid line, good shape, sailable bahama with a good interrior but engineless in california for example could get anywhere from 4k to 8k depending on condition

as usual value is based on where you are, how good is your boat? and btw you dont mention what inboard you currently have

for example this guy is way overpriced at 28k even though it has all the goodies
http://www.sailboatlistings.com/view/39526

another:
http://www.yachtworld.com/boats/198.../Marina-del-Rey/CA/United-States#.VHSUbovF-Qs

and another
http://www.yachtworld.com/boats/198...37701/Rochester/NY/United-States#.VHSUj4vF-Qs

where do you fit in here condition wise reallistically?

peace
 

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Discussion Starter · #4 ·
I understand a partnership arrangement would not work for a racer, live aboard or cruiser, but for a coastal cruiser that likes to sail a few times a month or spend long weekend away it seems like 2-3 people could happily share all the use they want. Now finding such person might be the unrealistic part in my view.... But maybe I am a unrealistic person.
 

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Im helping you out here...im saying the world might view this as unrealistic because you are asking for help on a repower right off the bat! (personally I dont see it unrealistic but Im used to doing things the hard way or un mainstream....look at my islander for example.)

that will scare 99% of sailors out there

beleive me Im the king of looking for alternate solutions...the bottom line is you will take much longer to get a partner unless you be a little more realisitic in your approach...especially these days

for example again what engine do you currently have? why not rebuild it, sell it and then look for the nice beta 16?

ps of those 3 bahamas I linked where do you fit in? you can judge value by simply looking at other peoples prices...or market value here...

one is in marina del rey which isnt that far away from you...

just some thoughts...
 

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Discussion Starter · #6 ·
My boat is somewhere around the condition of the 2nd listing. None of the listings list upgraded gear and they all have the vovlo MD7a which is a good engine until they die. I can guarantee the rebuilt engine on the first listing is only a repair parts needed because the parts are so expensive... If you can get them. Only reason this matter is they all have an engine that most likely will fail in the next 10 years.

I also realize the used boat market doses not value replaced parts. My thought is that poorly running engine, new sail, new rigging, good condition the boat is worth $7k because of the poorly running engine. With a new engine and auto pilot the boat would be worth $20-22k to the right buyer.

I also understand the issue for a new partner would be partner to invest per repower, but I think is could be overcome by a deposit/ guarantee arrangement. I.e. Agreed upon value set, half deposit with remainder in a joint account until engine is commissioned, I personally guarantee their entire investment if I fail to have the engine commission by set date. That way they get all new from the start.
 

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if you do this you are a good man

I personally guarantee their entire investment if I fail to have the engine commission by set date. That way they get all new from the start.


honestly I would partner with you...but like I said in my first post, others wont just because they see more issues with said arrangement than I would

I have to remember sometimes that not all sailors like to modify, repower, restore and work on their boats as much as I do...

jajaja

I think that you might get someone to nibble on your offer...it might just take some time

you can always put adds for partnerships and possible buyouts in said partnerships

rememeber people RARELY hold on to their current boats for life...so if you are not attached to your boat sentimentally having a few partners that want to repower, share expenses, and all pitch in with the option of buying out from you means all people are POTENTIALLY HAPPY

you might get a real nice chunk of change for your repowered boat or just have fine sailing with your partner...

peace
 

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Discussion Starter · #8 ·
Christian.hess

FYI my my relies are behind... My Last reply was to your first post. Thanks for the input. If I go this route it will be a uphill battle.

I have the md7a so a rebuild is not reasonable. I could easily spend $3-4k on a engine that is 35 years old and parts are not available.

The timing of cash out flow is not an issue to me, but overall commitment from a would be partner is important.
 

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does the engine run? if so, Try to sell half of a boat that sails good, has nice accommodations, is already in a slip and ready to sail. all boats need some work and your next planed project is to upgrade the engine.

I would think half of your boat may be worth $ 6k to maybe 8k. in Dana Point having the use of the slip is worth the most.
 

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I've been involved in a few different Partnerships,none boat related.I swore off all partnerships for life due to past experiences.Two people rarely agree on everything,one persons situation could change and they want or need out.One person always seems to end up doing more and animosity is created.One want to do something one way,the other doesn't.Just my 2 cents worth,but it does come from experience
 
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