Stephen Trapani wrote:
Frank Maier wrote:
Stephen Trapani wrote:
Okay, after getting advice here, I'm the guy who wouldn't go $8500 for a
'68 Newport 30,' and after seeing the Piver and hearing the warnings,
ran
...snip...
Is this too good to be true?

Stephen,

You seem like a smart guy and you're a fellow Northwesterner, so I
hate to rain on your parade. We get enough of that here as it is.
But...
Remember the old saying, "If it sounds too good to be true, it is."
Obviously I have zero personal knowledge about any of the specifics
you're looking at. It's possible you could get the deal of the
century. IMO, it's more likely you're gonna get an education in
economics.

Do you know about Marina auctions? I mean, there's no one there trying
to cheat you, it's a randomly impounded boat, it could easily be great,
right? The marinas dump these boats to get back their lost moorage
money. Aren't these marina auctions common? Are they the best kept
secret in boating or something? What, my luck I finally stumbled on that
gold mine I've been dreaming of all my life?!!! ;-)

Not specifically, but consider: If the boat is worth $20K, or $15K, or
even $8K, why doesn't the owner sell it himself, pay off his
liens/fees, and pocket at least a little profit? Abandoned vehicles of
any sort are usually in poor condition. But, like I said, it's always
possible that you could wind up with a fabulous deal.

....snip...
insurance, maintenance, repairs, etc.

Again, my nutty idea: If I get the right boat at the right price, like a
neglected, quality boat with some age, that has value, I'll get my money
back from maintenance and repairs won't I? or a good chunk of it?
Meanwhile I can have fun sailing and cruising around the massive
shoreline that is Puget Sound with my family. Even if it needs a few
thousand for a new motor and a few thousand for new sails, I can put my
elbow grease into it, etc, and have it worth more in five years or so,
if I want to move up in boats, or if I want to get out of boats altogether.

My short answer is, "No." Maybe after a lucky deal on a used Swan or a
"collectible" boat or something, but not for a Hunter or most any boat
you're looking at. As always, there could always be a specific
exception and/or I could simply be be wrong. But that's my $.02.

Good luck! Keep us informed of your progress.

Frank

Frank Maier wrote:

Stephen Trapani wrote:

[...]
Do you know about Marina auctions? I mean, there's no one there trying
to cheat you, it's a randomly impounded boat, it could easily be great,
right? The marinas dump these boats to get back their lost moorage
money. Aren't these marina auctions common? Are they the best kept
secret in boating or something? What, my luck I finally stumbled on that
gold mine I've been dreaming of all my life?!!! ;-)


Not specifically, but consider: If the boat is worth $20K, or $15K, or
even $8K, why doesn't the owner sell it himself, pay off his
liens/fees, and pocket at least a little profit?

My guess was that he (they) can't, he doesn't have the money to get his
boat out of the impound first so he can sell it. He let the payments
slide for too long.

Abandoned vehicles of
any sort are usually in poor condition. But, like I said, it's always
possible that you could wind up with a fabulous deal.

I guess the marinas make the renters put up their boats as collateral
upon failure to pay as happens with cars and car payments, and plenty of
good cars get repo'd, right? They don't fit in the same category as
"abandoned." The boat or car gets taken even when the owner badly
doesn't want it to, unlike abandoned vehicles.

Their misfortune is my fortune! cough

...snip...

insurance, maintenance, repairs, etc.

Again, my nutty idea: If I get the right boat at the right price, like a
neglected, quality boat with some age, that has value, I'll get my money
back from maintenance and repairs won't I? or a good chunk of it?
Meanwhile I can have fun sailing and cruising around the massive
shoreline that is Puget Sound with my family. Even if it needs a few
thousand for a new motor and a few thousand for new sails, I can put my
elbow grease into it, etc, and have it worth more in five years or so,
if I want to move up in boats, or if I want to get out of boats altogether.


My short answer is, "No." Maybe after a lucky deal on a used Swan or a
"collectible" boat or something, but not for a Hunter or most any boat
you're looking at. As always, there could always be a specific
exception and/or I could simply be be wrong. But that's my $.02.

Hmm, I guess I'll have to re-gauge my estimation of Hunters. They don't
make Catalina's look like MacGregors, then? I figured since I heard good
things about them and couldn't find cheap ones anywhere on the internet,
they were a cut above the other stuff I've been looking at. Like, what's
better, a Hunter or a Ranger? I'm leaning toward the lighter/faster
boats for more speed and because I don't need as much seaworthiness,
since I'll probably never get out of Puget Sound.

Good luck! Keep us informed of your progress.

Thanks!

Stephen

Stephen Trapani wrote:
Frank Maier wrote:
Stephen Trapani wrote:
....snip...
My guess was that he (they) can't, he doesn't have the money to get his
boat out of the impound first so he can sell it. He let the payments
slide for too long.
....snip...
I guess the marinas make the renters put up their boats as collateral
upon failure to pay as happens with cars and car payments, and plenty of
good cars get repo'd, right? They don't fit in the same category as
"abandoned." The boat or car gets taken even when the owner badly
doesn't want it to, unlike abandoned vehicles.

You're conceptualizing a repo on a vehicle with some value to a
lender; but this scenario is much closer to a lien against a vehicle
(boat) so worthless that the owner is unable to turn it into enough
cash to cover the lien. Don't think "repo," think impound or
mechanic's lien against a vehicle which isn't worth what's owed to the
offended party. But, ICBW.

....snip...
Hmm, I guess I'll have to re-gauge my estimation of Hunters. They don't
make Catalina's look like MacGregors, then? I figured since I heard good
things about them and couldn't find cheap ones anywhere on the internet,
they were a cut above the other stuff I've been looking at. Like, what's
better, a Hunter or a Ranger?...snip...

Many people would contend that Catalinas are better built than
Hunters. It's analogous to Fiat and Renault debating which is more
dependable. Scylla vs. Charybdis. Your choice.

Me, I'd prefer the Ranger. But, like I said a while back, I think you
could be happy/safe (enough) gunkholing around Puget Sound even in a
Newport, which is, IMO, a distinct cut below Catalina/Hunter, which
are (again IMO) a cut below Beneteau, a marque which some consider the
absolute pits.

My essential rule of life for most things: It ain't the inital cost;
it's the upkeep. Others have made some pretty useful and informative
suggestions in this thread. I'd re-read the whole thread and digest it
for a bit before moving too quickly to a final decision.

Frank