T&T: digging a hole...revisited

[terry mcginn]

This rather long, rambling post is a repeat from the CHB site.
I am posting it in response to TK Allen and the cost of ownership.

After reading Dave Coopers post I felt it was worth retelling here.
My only add to Daves post is "that with the right qualified prepurchase team "you may never buy any used boat.
I add to that "let the Sellers audit trail of invoices help guide you"

TK said " A wise man once said, "51% of smart is knowing what you're
dumb at".  I'm smart enough to recognize my own ignorance and not too proud
to admit it.  "

TK the problem sometimes is that in the real world you are torn between "Bob's crack team/the friendly broker/the brokers 
best friend the surveyor/ and your own desire to make this thing like you want it.

That was my case.
I now have a pretty reliable and thoroughly refitted boat....
3 years later and....the purchase price plus $85k.

At the risk of a long post!!....

I would like to let you take advantage of my 3 year experience
following the path on which you are about to embark as follows:

First I am a person who was born on the water/lived on the
water/Merchant Marine Graduate /sailed the big guys/owned many small
vessels and raised my wife and 3 kids sailing the Bahamas in a 44'
CSY Cutter Rigged Sloop including some wild trips back and forth
which included Frying Pan Shoals/The offshore Carolinas/and
Jacksonville to West End.
We spent a year on and off sailing out of Elbow Cay (Rudy Malones) with a 6 1/2 foot draft.

We loved the vessel and garnered unbelievable memories.

The only reason for explaining this is to set the stage for the next
life altering action I took.

Two weeks after totally refitting and selling the CSY I was sorry I
sold it. The reason it was sold was because I was sick of looking at
it and refitting it (which seemed to take on a life of it's own).

So we bought a house in the Bahamas and transferred our energy and
love to that in the 19 years from 1989 to this year. BUT...
After 8 years without a large vessel I yearned for the CSY and
purchased a 42'CHB Present 1985....it was a "beautiful boat" and a
compromise to my wife for her years of cramped quarters and some
interesting offshore storms (including 2 knock downs).

But I am rambling.....the point is that the CHB looked cosmetically
good; had been a Marina Queen for the two PO's; had only 2200
original hours on the engines and appeared ready to go.
As a seasoned Marine Engineer and boat owner who had totally
refitted a sloop I hired a "recommended surveyor" and spent two days
with him
inspecting the vessel (granted it was winter and the Annapolis
snowstorm of 2003).
I purchased the vessel after beating the price down for six big
blisters and a list of
apparently simple repairs (but never researched the CHB and was not
aware of this blog or T&T)

Oh what we missed!!

Fast forward to today....The vessel has been on the hard for most of
the elapsed time (3 of 4 years)undergoing a total refit caused by a
systemic blister discovery/peeland epoxy rebuild; a waste system
replacement/electronics/autopilot/cutless bearings(4)and new
shafts/props conditioning/total canvas replace /new thru hulls and
valves/10 miles of hose/water system /fuel system work etc etc.

The problem was that the survey was a typical one -not a thoruogh
one and the during the time it took to dry out the hull and to complete the major hull relaminate we were priveliged to
discover  every classic
issue that is wrong on a 20 year old boat.

Now we are almost ready to launch....and again I hate the thought of
another weekend or week on the boat in a dirty boatyard ( the kind
that allows this kind of work).

BUT ....I will survive the next 5 months....finish the task at hand
and go sailing off to the St John's , the Bahamas and wherever.
But as much of a risk taker I might be ...not a trans atlantic).

The Conclusion and The Moral to the Story

In the last month I have seen at least ( 3) 198xx CHB's (Several Presents and Ocean Alexanders, one nice MT).
.
for sale that are close to pristine. (The Trinity being the best one). I still feel they are a  beautifully designed layout.

They have all the work done ....they are ready for someone to sail
and not in the parking lot. These people, like me are "upside down
in the boat" (meaning more $$$ spent than can be recovered at market
value)
These vessels are (to me) worth more than two times their asking
price because they have more value than some new vessels due to the
loving and detailed refits that make them better than new.

Consider that Professional deck replacements/proper blister
repair/waste system replacement/fuel system replacements/electronic
upgrades/porthole replacements are in and themselves each worth thousands to tens of
thousands.....yet all these boats have a market price of only ten or
twenty more than a tired boat.

Take my advice....forget the tired boats and go for one whose
Previuos Owner(s). took care but got "upside Down". Even if you
borrow an extra $30k cause it will be a bargain.
Follow Bob's advice and spend one or two thousand not $400 on a team survey 
and not the Brokers friendly guy down the street.

Then you can have Happy Sailing.

By the way mine is not for sale but it is almost ready for sail.
Terry McGinn
Persuasion
1985 Present
Still on the hard on the Delaware
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