Hi
does anyone know about the origins of the Nantucket 31, where built, good things, bad things ?
cheers
john
Is this the one you are looking at????
www.tradingpost.com.au/Boats/Sail-Boats/Sail-Boats/AdNumber=D1200401989558
Yes we owned one for a number of years. Our boat was a Peter Cole design, built by Compradore Yachts in 1983, called Flying Colours. She was originally built for the commodore of RPAYC, who kept an article on her titled The Half Ton Mercedes. Lovely boat to sail, pointed to windward beautifully and just would sit nicely on her tumblehome hull. Not so good with the wind behind with her pinched in stern. They were a development on from the East Coast 31 and still one of the prettiest boats around. Every where we went we would have other boaties coming over to look at her and commenting on her lovely lines. I don' t know how many were made, but don't think there were that many.
Just checked, we bought the boat in 2001 and owned her for 8 years and she was actually built in 1986. We know that some had problems with leaking through the keel bolts and the bilge on ours was very shallow with no room for a bilge pump. We never had any problems with osmosis on our boat. The aftermarket fridge on ours wasn't great, but probably could have been replaced easily. Suggest you check for leaking at the toerail, we had to take ours off and reseal all through bolts. If it is the one at Marmong Point then we live there so could meet you if you would like or I could have a preliminary look for you.
I think $35k is probably a fair price when considering the cost of the yacht when it was brand new, what it would cost to build it today and it's age.
If it is in absolute pristine condition with all the "gear", it is probably a snap.
If it is run down and needs this and that fixed and no effort has been made to "present" the yacht, it is probably some "silver tail's toy" that he can no longer afford and he wants to dump it before it costs him too much more.
If that is the case and it is the yacht you want and can handle it physically and financially, bust his arse and ego and offer him $20k or less and state that the offer stands only for the next 24 or 48 hours.
It is a difficult question to answer. Sometimes you have to take your gut in your hand and punt. Are you ready for that??
The other thing is to never ever forget the first unwritten rule of yacht ownership.
That is:- "Never let the value of your yacht/boat exceed 10% of your nett worth and never let it's ongoing cost of ownership exceed 10% of your income."
So, if you are prepared to accept that rule, get a sheet of paper, rule a line down the middle and a line across the middle.
In the top left quadrant, list your liabilities. In the top right quadrant, list your assets. Subtract liabilities from assets to determine your nett worth.
In the bottom left quadrant, list your monthly expenditures. In the bottom right quadrant, list your income streams (it is great to have several). Subtract expenditures from income to determine what your disposable income is.
This is what is known as an "A & L, I & E" statement. If ever you seek a loan from a bank or finance company and they do not require one of these, you should walk out and seek money elsewhere.
I do one of these statements on my self on a fairly regular basis (annually is good) just to see how I am travelling by comparing with previous years.
If you only have $35k I don't think you should buy this yacht or any other for that price. Think about a great design sailing skiff for $3,500. It will be more fun and probably sail faster than that yacht. A "Flying 15" is a great choice as they were the first of the planing keel yachts. I was partners in one at Yowie Bay in Sydney and we had a ton of fun with it. Good ones are worth about $6k though.
I hope this free advice (advice is only worth what you pay for it.
) is of help in gelling your thinking.
The above is only my opinion and there are others who would totally disagree and say "Just Go For It!!!". That has worked for many very successfully.
In the end it is your choice. If you WANT it and can afford it, you should have it.
Cheers Cisco.
As a price indicator, we sold ours for $57000.00 and a couple of years later she was sold again for around $47000.00. However she was in extremely good condition, and the guy who sold her after us had bought a new boat so really needed to sell, hence the big drop in price. In my opinion $35000 is a pretty good price for a Nantucket, although looking at the photos she looks as though she needs some work on the interior.
How about break it down.
Hull and deck ...............$10,000
Mast and rigging............$7,000
New sails and furler........$7,500
Running gear.................$5,000
Fittings & extras.............$4,000
Total.............................$33,500
Everybody wants something for nothing!! Haha
In comparcene my mate just brought this one for a similar price.
www.thecoastalpassage.com/monohullvivaldi.html
Don't price a boat you want to buy on anything but the minimum you can get it for without being gazumped. The price other ones went for, how much they cost new or breakdown value are totally irrelevant.
If you price it at more than the minimum possible to get a deal, you are going to pay more than anyone else is willing to.
If you are happy to pay that because your circumstances want/allow it that's fine. But it isn't worth what you have paid as you paid more than any other buyer was willing to.
Gazumping occurs when a seller (especially of property) accepts an oral offer of the asking price from one potential buyer, but then accepts a higher offer from someone else. It can also refer to the seller raising the asking price at the last minute, after previously orally agreeing to a lower one. In either case, the original buyer is left in the lurch, and either has to offer a higher price or lose the purchase.[1] The term gazumping is most commonly used in the UK and Australia, although similar practices can be found in some other jurisdictions.
Gazumping is my new word for the day thanks morning bird... Haha
I do believe breaking down the price can work well, after all that's what marine surveyors do for valuations......it gives as an idea of what we are getting for our buck......eg if the sails are shagged and new sails are worth 7k we know that the price of the vessel should not include the sails etc.....if the running gear needs to replaced we remove 10k from the price.
if we all take the approach of screwing the seller down to the bare minum what will our current boats be worth?
Out of curiosity, did you actually get into the v berth? I am 6 ft 4 and used to sleep in ours fairly comfortably.
We used to use ours as a double and the two of us fitted in fine, that's why I asked if you actually tried it out. When we were selling our Nantucket we had one couple on board who didn't think they would fit in and he was only about 5 ft 10 so they were surprised we both slept in the v berth.
