Vin 7 Posted February 2, 2022 Author Share Posted February 2, 2022 34 minutes ago, Zozza said: Btw to the OP, here is your 30 foot boat that you can live on and sail the world if you want. Auction ends tonight. In fact, I am tempted to bid myself at the current bid of only $5K odd! It will probably end up selling for $10K, leaving $10K in your pocket. The Chico 30 is a heck of a good design. Long waterline, transom hung rudder, built by a well respected boat builder, and on this one the teak decks have been wisely removed. https://www.trademe.co.nz/a/motors/boats-marine/yachts/keeler/listing/3438790843?bof=ZOpmVooi Go for it. Yep I've got that one on my watchlist and a reminder in my calendar one hour before auction ends. Might end up being a bit of a bargain! Quote Link to post Share on other sites
Young Entertainer 61 Posted February 2, 2022 Share Posted February 2, 2022 agree with most of the sentiment here about getting the best boat possible but i would not be looking at a 20k boat in rough condition and comparing it to a 40k boat in good condition and thinking 20k on the rough boat will get it to the same standard, i would double it and go 20k plus 40k will get you to the condition of the 40k boat. I have plenty of personal experience of this, my latest boat is hopefully in that 120k mark now, but i paid 90k for it and so far have spent at least another 90k to get it to be a tidy boat probably worth $120k. new motor, new furler and standing rigging, new sails...... even the little things like a new anchor light (admittingly a hella led with nav lights) was $750 before I ran new wires or had it installed. Better to purchase the boat in the best possible condition you can afford and take advantage of the guy who has spent the money before you 1 Quote Link to post Share on other sites
Psyche 707 Posted February 2, 2022 Share Posted February 2, 2022 That is so true, A 100k boat can easily have a 100k spent on it and still be worth a 100 or less. That's just boats, particularly older ones. Quote Link to post Share on other sites
Black Panther 1,670 Posted February 2, 2022 Share Posted February 2, 2022 Also be sure of your exit strategy. If you buy a 20k boat, live with it's faults for 2 years then sell it for 17k you're way ahead as you've probably saved over 1500 per month in living costs. Most of the people here , myself included, bought a boat they really liked and spent money on it coz they really liked it. Not necessarily a bad thing but not financially prudent either. 1 Quote Link to post Share on other sites
khayyam 83 Posted February 2, 2022 Share Posted February 2, 2022 39 minutes ago, Black Panther said: Also be sure of your exit strategy. If you buy a 20k boat, live with it's faults for 2 years then sell it for 17k you're way ahead as you've probably saved over 1500 per month in living costs. Most of the people here , myself included, bought a boat they really liked and spent money on it coz they really liked it. Not necessarily a bad thing but not financially prudent either. "boat" and "financially prudent" don't really belong together in the same sentence. 4 Quote Link to post Share on other sites
aardvarkash10 1,055 Posted February 2, 2022 Share Posted February 2, 2022 3 hours ago, Zozza said: Btw to the OP, here is your 30 foot boat that you can live on and sail the world if you want. Auction ends tonight. In fact, I am tempted to bid myself at the current bid of only $5K odd! It will probably end up selling for $10K, leaving $10K in your pocket. The Chico 30 is a heck of a good design. Long waterline, transom hung rudder, built by a well respected boat builder, and on this one the teak decks have been wisely removed. https://www.trademe.co.nz/a/motors/boats-marine/yachts/keeler/listing/3438790843?bof=ZOpmVooi Go for it. Auriga is on the mooring next to us. At a minimum she needs a full repaint - cabin tops to keel. She is looking tired. Unless you feel like dropping about $30k on deferred maintenance and thats doing it yourself, I wouldn't 1 Quote Link to post Share on other sites
wheels 543 Posted February 2, 2022 Share Posted February 2, 2022 BP makes a good comment. Most of us bought the boat we liked and then spent money on it. It could be said that if I didn't buy a boat, I would likely have a lot more money today. But I would be much poorer for not having had the experience. 4 Quote Link to post Share on other sites
Zozza 316 Posted February 2, 2022 Share Posted February 2, 2022 12 minutes ago, aardvarkash10 said: Auriga is on the mooring next to us. At a minimum she needs a full repaint - cabin tops to keel. She is looking tired. Unless you feel like dropping about $30k on deferred maintenance and thats doing it yourself, I wouldn't Double that ....and if you were me you could then triple it because I would have to junk rig her. Then I would want my special watertight companionway hatch, which means rebuilding the cockpit. Then I'd strip off all fixtures and fittings and rebed them in butyl. Then more rabbit holes would open as is usually the case...so I am probably up to $120K by now.... So yeah, I was jesting, one boat is enough for me at the moment, but at least the current owner is realistic and put this one on a 'no reserve' on T/Me Quote Link to post Share on other sites
Psyche 707 Posted February 2, 2022 Share Posted February 2, 2022 Rabbit holes is a good way to describe boat work, particularly wooden boats. Look at that tiny soft spot, no worries grind it out and a bit of bog... Nek minit youre 3 months and 20k down! Quote Link to post Share on other sites
Zozza 316 Posted February 2, 2022 Share Posted February 2, 2022 There is another Chico on Trademe at the moment, and I like the lower profile cabin top, but teak decks! Owner wanting $28K for that, where the bill to get the decks professionally fixed would cost that at least. Quote Link to post Share on other sites
Kevin McCready 83 Posted February 3, 2022 Share Posted February 3, 2022 aardvarkash10 I was about to say that max $10k would be very good for Auriga. Am I understanding you correctly that you wouldn't pay that for it? As David said you could probably live on it for a couple of years and then sell it for $5k without spending too much. Quote Link to post Share on other sites
Zozza 316 Posted February 3, 2022 Share Posted February 3, 2022 As Kevin indicates above, and BP said earlier on, I think what should be reiterated so as not to scare off the OP -- he could definitely buy that Chico, Auriga, and not do a damn thing to it and liveaboard and sail it most anywhere around NZ as is, then sell it off a few years later. Or he could decide after that time that she is worth saving, and putting money into and with a few years experience of living aboard under his belt he will know what he wants to do to the boat to reshape it in his image if he keeps her. Unfortunately, that is not my nature, and when I buy a boat I have to rip it apart and rebuild it to meet my standards immediately -- it is much better for your pocket if you don't have my, uh, 'disease' LOL 2 Quote Link to post Share on other sites
aardvarkash10 1,055 Posted February 3, 2022 Share Posted February 3, 2022 39 minutes ago, Kevin McCready said: aardvarkash10 I was about to say that max $10k would be very good for Auriga. Am I understanding you correctly that you wouldn't pay that for it? As David said you could probably live on it for a couple of years and then sell it for $5k without spending too much. for an inner gulf liveaboard, yeah. You could get away with it for a year, but not longer. She has had money spent, but on fixtures and fittings. She really needs 6 weeks on a hardstand and a full strip and refinish. I really like her lines but she is looking very tired.But that leads me to questions on the rest of the yacht. I don't think my refurb budget estimate would be far off. All imo, and only from observations in passing. She is getting used and was out last weekend. Quote Link to post Share on other sites
Vin 7 Posted February 3, 2022 Author Share Posted February 3, 2022 2 minutes ago, aardvarkash10 said: for an inner gulf liveaboard, yeah. You could get away with it for a year, but not longer. She has had money spent, but on fixtures and fittings. She really needs 6 weeks on a hardstand and a full strip and refinish. I really like her lines but she is looking very tired.But that leads me to questions on the rest of the yacht. I don't think my refurb budget estimate would be far off. All imo, and only from observations in passing. She is getting used and was out last weekend. This is quite an interesting discussion point I think. In my experience with house/motorcycle restorations, there are miles between 'good enough' and 'perfect'. I realise it's a bit different with a sailing vessel, as things break more often, and when they do, it can pose a significant safety issue (shrouds/stays snapping, seakcocks failing, etc). Using Auriga as an example here, if the hull and the standing rigging are sound, and all that is wrong is a bit of rot in the plywood decks around fittings, it may be possible to get her 'good enough' for a few thousand dollars if you're willing to live with some cosmetic imperfections. Hmm. 1 Quote Link to post Share on other sites
Zozza 316 Posted February 3, 2022 Share Posted February 3, 2022 9 minutes ago, Vin said: This is quite an interesting discussion point I think. In my experience with house/motorcycle restorations, there are miles between 'good enough' and 'perfect'. I realise it's a bit different with a sailing vessel, as things break more often, and when they do, it can pose a significant safety issue (shrouds/stays snapping, seakcocks failing, etc). Using Auriga as an example here, if the hull and the standing rigging are sound, and all that is wrong is a bit of rot in the plywood decks around fittings, it may be possible to get her 'good enough' for a few thousand dollars if you're willing to live with some cosmetic imperfections. Hmm. Yep - especially if you have the skills to DIY Get IT (Matt) to order some 'Bed It' butyl tape, get an epoxy repair kit, and go for it. Others may have a different view, and of course who knows the extent of current issues on that Chico till you get up close and personal, but at between $5K - $10K it is not financially life changing if it turns into a fu*k up. Just my thoughts, but there are plenty more experienced fellas on here than me that might disagree, and I would go with what they say over me any day...I am still learning this sailing / boats game 1 Quote Link to post Share on other sites
Zozza 316 Posted February 3, 2022 Share Posted February 3, 2022 Just keep a careful eye on these two things below if you do buy the Chico or any other 40-50 year old yacht 1 Quote Link to post Share on other sites
harrytom 671 Posted February 3, 2022 Share Posted February 3, 2022 6 hours ago, Zozza said: Btw to the OP, here is your 30 foot boat that you can live on and sail the world if you want. Auction ends tonight. In fact, I am tempted to bid myself at the current bid of only $5K odd! It will probably end up selling for $10K, leaving $10K in your pocket. The Chico 30 is a heck of a good design. Long waterline, transom hung rudder, built by a well respected boat builder, and on this one the teak decks have been wisely removed. https://www.trademe.co.nz/a/motors/boats-marine/yachts/keeler/listing/3438790843?bof=ZOpmVooi Go for it. Be interesting to see final sale price. There appears to be water leak in the head,coaming looks wet and going black so could be the start of a minor proplem. 1 Quote Link to post Share on other sites
aardvarkash10 1,055 Posted February 3, 2022 Share Posted February 3, 2022 somewhere we covered the cost of cheap yachts and I did estimates on SO so far (almost two years). $14k purchase, about $1k on purchase costs (inspection report etc) Replaced water tanks, new water pump and taps, depth sounder, antifouled (stripped to the sealer coat and refinished with undercoat and 3x antifoul) new sail cover and dodger, minor rot repair in the cabin top, new fridge, added 130w solar, new house battery replacement anchor, recovered squabs, recarpeted, fitted secondary winches, engine out and replaced exhaust mixer elbow and rear main oil seal, fitted LED strip lighting and replaced all other bulbs with LED, new autopilot, minor repairs to anchor winch. About to replace the diesel lift pump. This winter she will be hauled, antifoul redone and topsides repainted, possibly decks as well if I get excited. This is not taking it to Zozza's level, just maintenance and a few little improvements. All DIY except the canvas work. The antifoul was about $600 in materials, not including haul, four weeks on the hardstand (start of last years lock down...) and probably 5 to 8 days of my labour on and off. We ended up garnet blasting rather than sanding to save effort, that added $800, but was a misquote and should have been closer to $1500. Ended up around $2000 all up, could have been closer to $3k if the sand blasting guy was an asshole. He wasn't. Canvaswork was about $3k all up. I'm picking 3k a year in maintenance as a good working value. Anything less and we would be falling behind. Insurance is about $1k a year, mooring about $2.8k Coastguard is an insurance cost from my pov, thats another hundy or so. Quote Link to post Share on other sites
Vin 7 Posted February 3, 2022 Author Share Posted February 3, 2022 4 hours ago, harrytom said: Be interesting to see final sale price. There appears to be water leak in the head,coaming looks wet and going black so could be the start of a minor proplem. $13100 final price. Quote Link to post Share on other sites
Zozza 316 Posted February 3, 2022 Share Posted February 3, 2022 1 minute ago, Vin said: $13100 final price. Not you? Quote Link to post Share on other sites
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