A hidden gem or a bad egg?
A neglected-looking boat is not always a hidden gem that simply needs new bottom or a tune-up. In my early days of looking for a boat I was often told by boat dealers that I should look for a used boat that looks like it needs a little T.L.C. if I want to find a great boat at a low price. They said that I should not pass over a boat that needs a little bottom paint, or new upholstery, or a new windshield, as the boat may have a solid hull and engine; further, because many boat shoppers may pass right over these boats due to their poor aesthetics, the price may be attainable for a wise boat buyer like me!
Well, I'm here to tell you to be wary of this thinking. Your original instinct - the one that tells you that the previous boat owner who kept the exterior of his boat a mess likely also neglected the "insides" of the boat - is likely the case. It is quite possible that if a boater didn't think it was important to keep the top of his boat protected from the sun and salt with constant washings and waxings, then he also didn't think too highly of keeping his engine maintained regularly or his boat covered in the winter.
Then, think of the person you know who gets their car washed and waxed regularly, and has their house power washed every year and keeps a meticulously landscaped yard. Doesn't this person also likely to bring his car in for regular maintenance, and have a structurally sound house?
I'm not saying you should judge a book by its cover; but when it comes to buying a used boat, you're likely to enjoy the boat more in the long run if you stick to boats that LOOK like they have been well-maintained.
Even then, of course, you have to be careful! There have been many stories, some of them even true (probably), of people buying meticulous-LOOKING boats only to find out that the vessel barely survived Hurricane Katrina but was salvaged and cleaned up for some unsuspecting boat buyer who thought they were getting a fabulous deal.
Trust but verify. My advice is to buy a used boat that looks well-maintained, but make sure you have the engine and hull thoroughly checked by a surveyor before making the purchase.
posted by First Boat at
6:30 AM
2 Comments:
Thank you, Thank you, THANK YOU!
I've seen soooo many people end up with a "bad egg" in which they have overpaid. They were unaware of dangerous damage, leaving them with a sour taste in their mouths for the whole boating industry.
A comprehensive marine survey is a MUST!
Buying any boat (even new) is a risk. The older the boat and the lower the price the greater the risk.
Some models and types withstand time, maintenance or lack thereof, groundings, abuse, neglectful owners, and punishing oceans and lakes better than others. That is not to say expensive is better, even the most prestige names in the industry will not compare to a lesser name if the vessel has been abused.
A survey can not provide a guarantee that the boat is completely free of defects (probably no boat ever is). What a survey should do is provide an experienced eye and professional opinion to improve the odds of a successful outcome for you.
Your lender and insurer will want this independent evaluation from a surveyor who does not have a vested interest in the vessel when deciding on the amount to lend or insure. However, they may also choose to use a somewhat higher or lower figure than the survey valuation depending on their experience and policies.
The survey will assess safety and suitability of the yacht for the intended service. The survey opinion, supported by detailed observations provided in the report, should help you decide whether the vessel is suitable for you. Naturally, Insurance underwriters will also be concerned with safety recommendations in the survey, since this will affect potential liability claims. Don't think of the survey as expensive "red tape" forced on you by an insurer or lender. Make the effort to get a good survey. It won't cost you, it will save you money.
Yes, I am a Marine Surveyor.
I see my job as one that gives my 30 yrs on the water as an unbiased eye toward anything that floats. I have no vested interest in whether a client purchases a particular watercraft or not, a survey just reports. You wouldn't think of purchasing a home without an inspection, would you?
One more thing, be a little wary of boat brokers that say...
"I've got a good surveyor right here, I'll just give him a call"
remember, he doesn't get paid till the boat sells.
visit www.southerncrosssurvey.com for more information.
thanks again for the very informative post.
Paul
Thank you, Thank you, THANK YOU!
I've seen soooo many people end up with a "bad egg" in which they have overpaid. They were unaware of dangerous damage, leaving them with a sour taste in their mouths for the whole boating industry.
A comprehensive marine survey is a MUST!
Buying any boat (even new) is a risk. The older the boat and the lower the price the greater the risk.
Some models and types withstand time, maintenance or lack thereof, groundings, abuse, neglectful owners, and punishing oceans and lakes better than others. That is not to say expensive is better, even the most prestige names in the industry will not compare to a lesser name if the vessel has been abused.
A survey can not provide a guarantee that the boat is completely free of defects (probably no boat ever is). What a survey should do is provide an experienced eye and professional opinion to improve the odds of a successful outcome for you.
Your lender and insurer will want this independent evaluation from a surveyor who does not have a vested interest in the vessel when deciding on the amount to lend or insure. However, they may also choose to use a somewhat higher or lower figure than the survey valuation depending on their experience and policies.
The survey will assess safety and suitability of the yacht for the intended service. The survey opinion, supported by detailed observations provided in the report, should help you decide whether the vessel is suitable for you. Naturally, Insurance underwriters will also be concerned with safety recommendations in the survey, since this will affect potential liability claims. Don't think of the survey as expensive "red tape" forced on you by an insurer or lender. Make the effort to get a good survey. It won't cost you, it will save you money.
Yes, I am a Marine Surveyor.
I see my job as one that gives my 30 yrs on the water as an unbiased eye toward anything that floats. I have no vested interest in whether a client purchases a particular watercraft or not, a survey just reports. You wouldn't think of purchasing a home without an inspection, would you?
One more thing, be a little wary of boat brokers that say...
"I've got a good surveyor right here, I'll just give him a call"
remember, he doesn't get paid till the boat sells.
visit www.southerncrosssurvey.com for more information.
thanks again for the very informative post.
Paul
Post a Comment
<< Home