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Yacht Buying Questions

Discussion in 'General Yachting Discussion' started by johnwstar, Mar 25, 2007.

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  1. johnwstar

    johnwstar New Member

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    I am also new to this website and to boating in general.. First question, how do you send a general inquiry through the forum?

    Second, I am considering buying a 44" Bestway CPMYl (Taiwan builder)....can anyone share info on this boat (trawler) or builder?
  2. SeaEric

    SeaEric YF Historian

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    Welcome, Try here for answers first.

    http://www.yachtforums.com/forums/g...on/307-directions-navigating-yachtforums.html

    From my standpoint (yacht broker) Bestway is not one of the more mainstream builder names and therefore are tough to resell. If the price is good and you like the boat, survey her carefully and happy boating!
  3. johnwstar

    johnwstar New Member

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    thanks SeaEric. We like the boat but naturally we are concerned about the manufacturer and it's resale value. Any comments on what concerns one may have about a boat that has been in the water but inactive for over 2 years. The owner died 2 years ago and the estate is trying to sell it.

    John
  4. SeaEric

    SeaEric YF Historian

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    I have no basic problem with buying a boat that is unused for a period of time. That happens for various reasons. Getting the boat/machinery and systems all back up and running properly is at issue. This can be accomplished in the context of the sale, which will include marine surveys of hull and machinery and seatrial. If the broker is on his game, he/she will see to it that all aboard is up and running well prior to seatrials. Your bargaining position is probably pretty good with the estate, as they want this boat, and its related carrying expense, gone. Boat deals can be a lot easier when there is no emotional attachment on the seller's part.

    MAKE SURE that you truly like the boat. I'm so sick and tired of people buying "the deal" where the actual boat is secondary. That makes me crazy. If you like the boat and wish to make her your own, make your offer, check her out well, re-negotiate price for (major) needed repairs if necessary, then close the deal and begin enjoying your new boat.
  5. johnwstar

    johnwstar New Member

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    Thanks so much for the reply! We really love the teak interior and the trawler style of the boat. She's run down for sure so due to the lack of TLC and total neglect of the vessel since the owners' death 2 1/2 years ago, we had fears that we would be nickled and dimed to death with repairs. I (Barbara)forgot about sea trials. I've been a sailboater in a prior life and not up to snuff on power yachts. Sea trials will be an excellent adjunct to the survey. We plan to take her to San Carlos on the Sea of Cortez, so she has to be seaworthy to get us there. (We have a broker/captain). Once there we plan to live aboard, rather than cruise. We are retired and have limited resources so that's the reason for the cost issue. The other boat we were considering was a 1978 Viking, very well maintained, but very dated and while she was probably the more seaworthy boat, we just didn't love her like I think we'll love this crazy Bestway. We're guessing about $15K immediate repairs etc. to include cleaning the fuel tanks, replacing broken windows, buying a dinghy and outboard, checking/replacing lines and batteries + various underequipped additions? What do you think the value of this boat in current condition would be (it's a 1986)? Do you think we could ever resell it, given it's a "no-name"?

    John and Barbara
  6. KCook

    KCook Senior Member

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    Welcome to YachtForums John. Luv San Diego! I can't answer your specific questions. But as you said you are new to yachting, here is another good thread on getting into the game - seeking an education

    Kelly Cook
  7. johnwstar

    johnwstar New Member

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    Thanks Kelly......very informative!
  8. KCook

    KCook Senior Member

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    Of course each of us has a different comfort zone when it comes to boat selection. And I really am intrigued by the brands that are considered out of the mainstream. But from the resale angle I think that such brands make the most sense when their age is "middle ground". I would be wary of buying one new (or newish) because of the depreciation hit. And equally wary of a very old one because of the difficulty in finding a buyer. But the brokers active on this forum will have a much more informed view of this, hope they chime in here.

    timid Kelly
  9. SeaEric

    SeaEric YF Historian

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    John and Barbara, Resale depends upon price and condition. One way to look at this is: You are interested in this boat right now. When its time for you to sell, another couple like you will probably come to the same conclusions that you have in looking at the market and whats available for what price. If you're looking at the 1986 model 44 that I see on YachtWorld, it looks like she is priced quite well to start with. The sold database (available only to brokers and surveyors) support actual selling prices in the low $100K + range. Only a handful of older, smaller Bestways have sold below $100K.

    Without having seen the boat myself, it would seem to me that you can perhaps make a nice buy here. Hopefully you can arrive at an agreed selling price, prior to survey, that will give you a comfort level in adding the expected $15-20K in deferred maintenance and desired upgrades.

    It sounds like your thinking is sound, and you're on the right track. FWIW, I agree about the older Viking; A great seaworthy boat, but has no panache.

    Good luck!
  10. johnwstar

    johnwstar New Member

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    Seaeric,

    We really appreciate your insight. We like this boat and probalby would be willing to spend the additional 20,000 or so to repair and upgrade. However, will do more research on potential repairs before venturing further. We have been advised by another boater than in all probability, it is likely that the boat will also require new engine filters in addition to the repairs already delineated.

    Thanks again....

    Johnn and Barbara
  11. SeaEric

    SeaEric YF Historian

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    :) If you do enough research, you can pretty much talk yourself out of anything. Just make sure someone else doesn't grab your good deal away while you're still at the drawing board.

    The fuel filter issue is nickels and dimes. Not to worry. They need changing annually anyway, along with a list of other preventative maintenance that is good yachting practice.

    I do believe that many of the gremlins from non-use will be chased out by the current owner, at their expense, in the process of making the boat ready for your survey/seatrial, as will be called for in your offer to purchase.
  12. JWY

    JWY Senior Member

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    John --

    Bestway is a fairly well known name in the trawler world. They come under the classification of TT (Taiwanese Trawler or sometimes affectionally referred to as Taiwanese Tub). Bestway built models from 40' to 50' in both double cabin and cockpit models.

    Bestways are typical of many of the TTs in that they provide voluminous interior space, and lots of boat for the buck. Also typical are common problems related to the teak decks, leaky windows, hull blisters, water intrusion at deck installations, fuel tanks...

    Make sure you get an extremely thorough surveyor and have $$ aside for x factors ...enjoy the liveaboard life.

    Judy Waldman