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Discussion Starter · #1 · (Edited)
I'm looking for suggestions-problem-older boat shared with partner who wants out. (he's on title). I originally purchased her for $30,000 in 1987, then sold 50% interest in 1996, for half the agreed price of $20,000-sharing marina, storage, and insurance. However, I have always paid for the maintenance-I've needed to as I do four hour cruises to pay for this exercise. Technically the boat costing $20,000, over 22 years is probably some kind of record, given she has generated her own cash for her "parking" and maintenance costs. Last year the "owner's" friend paid the marina fees -his share, but made no committment for this year, (inferring not). Not wanting to throw more (needed) money into a boat in someone else's name, I was introduced to my new boat-(pre-mamed) Seadeucer a Jeanneau 32 1985 in great shape for a great price, which costs $5,000/yr to "park". (Particularly as I named my Tanzer Extasea-before the drug came out!-it seemed appropiate). As I am not on title, I am also not responsible for storage costs, and if I stick the partner, he'll have the option to sell her for whatever, and give me nothing. Rather than that, it would seem prudent to simply list it privately, as is, make us an offer. The question I pose is what is the base (lowest) price for the biggest 28' boat ever-the cockpit sits four, the (flight) deck (beam to beam) accomodates several-I routinely take out 10 people, occassionally more. Frightfully she has much more storage space than my Jeanneau, and more usable deck space by far. The inboard 1cyl. Yanmar runs good, but needs cushions throughout, new or repaird rails, new sails-and basically everything else. As a "cottage" marina boat she may find a buyer. Even so, a survey is required for insurance for the marina, is there a point at which such a boat is worth nothing? Or may it be worth more, as some people are forced to give up there real cottages? (Others totally equipped i.e. with auto+full cockpit enclosure etc. - bristol, similar vintage, are about $13,000 from what I could find on the net). List her for 8, and go down to 5?, or be happy with anything? I'm in Toronto and in no hurry-the partner's friend has not contacted me since the fall, nor of course do I wish him to know of my new boat. Any comments will be appreciated, thanks.
 

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The way I see you explaining this problem is that the "owner" no longer "owns" the boat & has given his share to a friend. Is there any reason why you cant get that 1st person to cede the boat to you? The other tack might be to just rid yourself of any ownership & write-off any percieved loss & just go sail your new boat. Leave the Tanzer to the other person. I agree that it's imprudent to put money into someone else's boat.
 

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Discussion Starter · #4 · (Edited)
Trouble is he would likely expect some money for his $10,000 (yes after 12 years), and if even if I bought her for $2,000, I'm then responsible for $9,000 in boat expenses, plus maintenance-crazy I'm not. The insurance for the Tanzer is paid till the fall, and I could pay the $1,000 winter storage, but not the $2,500 for the marina. Perhaps I should craiglist for a new partner. But then a change in ownership requires a survey-with unknown consequences and expense to attain insurance, thus access to a marina. You see the sticky wicket. It is such a shame to walk from a boat that has made so mant great memories for so many. But I have traded my chevrolet in for a BMW so to speak, and have no regrets.
 

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Telstar 28
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Have you spoken with him about this? If not, that really should be your first step. Without an idea of what his expectations are, then you're pretty much just guessing, and more likely than not way off the mark.

Talk to whomever owns the other half of the boat and see what their expectations are.
 

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cap'n chronic
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the boat may have a few good features, but, no offence, the boat looks like tupperware.
I would sign the boat over and walk away if possible.
i highly doubt you will sell it for more than the storage,insurance and maintenance will cost between now and the day it sells.
the boat sounds like a hurting unit and from what you say the costs of what it needs outweigh the value of the boat.
there is no shortage of boats that need work that are bieng sold or given away in southern ontario.
 
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