Skip, I'm curious as to what kinds of things you (and other buyers of older boats) have had to do to bring the boat up to Ready to Sail condition. Were there any major things? It would just help me keep track of what I should be watching out for and maintaining in my older M15. Bobbie
Some random thoughts on the value of boats issue, from one who at one time was offering an older M17 for sail. Years ago I was told by a surveyor that the value of older boats tends to stabilize at around 30% of the cost new of a similar boat. So if new boats are $14,000, 30% of that is $4,200. From that, work up and down, depending on condition and equipment offered. One problem with boats, or any item that is not commonly sold, with a mechanism for price discovery, is knowing what anything is worth. If you want to know what a share of IBM is worth, it's easy to find out. Less easy to know what a 5 year old Ford pickup truck is worth....(it depends), but even less so with boats. I am a RE appraiser by trade, and it is a common perception that the hardest property to appraise, bar none, is your own home. We know too much about them. Same would apply to a boat. There is a difference between work to maintain value and actual improvements. I don't have the list, but there are generally things that do add to value....things like new sails, perhaps a new engine, etc. Other things, like me replacing the side cabin core under the chain plates was a lot of work, but maintenance that didn't add value. Same for my rehab of the CB. Same for lights, improvements to the wiring, battery charger, etc. All nice, but not much added value. And Audasea is not pristine by any stretch. She looks OK from a distance and is sound, but a lot more could be done to her. Like a full paint job. I have no interest in that. When I priced mine, I knew what I paid and what work and improvements I had made, and I knew the price of two sister ships.....near total derelicts as I recall....one in Chicago, the other in Minnesota....and having fixed up mine, I knew what was in store for those if they were to sail again. I'm sure somebody took them on and worked their ass off and spent a ton on them. Some folks are very good at scavenging parts and make or make do with others. The price I chose was above those two derelicts, but not nearly enough to replace what I had in her, not the least of which was over $2,000 in new sails. So I suspect that most buyers are lured by the cheap fixer uppers, with limited knowledge of what it will take to get them to A-1 condition. Or they might prefer cheap and they enjoy the work. I'm surprised at the number of folks who like to dick with their boats.....in the driveway or at a yard......and NOT sail them. For them, derelicts are the way to go. For sellers. I'd only say to know the price of new, be realistic in what you have, price it accordingly and see what happens. And it depends on do you need the money today or don't need it at all.
Bobbie, Technically, my boat was seaworthy. If you buy a used car, you don't necessarily need to buy new tires or change the oil right away before you drive it. But, since I bought the boat in November I had all winter to tinker. Here is a list of my repairs/upgrades. Boat: Completed. Sent sails out to be reconditioned. Cleaned/restored fiberglass (Repairs to FG will be done once the weather breaks) Cleaned cabin cushions Cleaned and re-sewn boat cover. Removed old numbers before applying my new reg. numbers. Removed small dent in mast. Added boarding ladder to transom. Replaced motor mount with SS adjustable mount. Added SS anchor bracket and bought new anchor/anchor chain, shackles and rope. Bought new 3.5hp motor. Bought new compass and mounted. Added teak louvered vent to hatch boards. Re-varnised wood Added spot-a-pot Added teak, triple loop handles to top of cabin. Boat: Pending Add battery with running lights Add bilge with transom drain Add Bimini?? Replace cushions Trailer: Completed Replaced wheel bearings Replaced tires Modified trailer so that the trailer would fit into my garage. Replaced rollers Relaces bunk boards and brackets. Replaced winch strap Replaced trailer jack stand Rewired lights replacing broken parts. The biggest concern most owners talk about is the steel punch keels. The older boats (pre-1989) were made using steel punches before Jerry started using lead. Since most Monty's are dry sailed, they don't spend too much time in the water and I haven't really heard of many boats having issues with water entering the keel and causing problems. Basically, the problem is caused by rusting steel causing the keel to swell, pinching the centerboard, causing it to stick and not lower. If this happens, the easy fix is to call Bob Eeg and order a new CB which is thinner and will eliminate the pinching problem. Or you can do what 'Dauntless' owner did and replace the steel with lead. NO THANK YOU!! Most Monty owners on MSOG take pride in their boats and maintain them well. This BB is a great source of information and as noted........they are crazy about Lyle Hess and Jerry. And if you ever have the pleasure of talking with Bob Eeg, he's a great guy too! There are plenty of other boats out there, but if you are looking for a great trailerable sailboat, there is none better then the M boat!! Regards, Skip -----Original Message----- From: barbaram@csufresno.edu To: montgomery_boats@mailman.xmission.com Sent: Fri, 23 Mar 2007 8:44 AM Subject: M_Boats: The value of a Montgomery Skip, I'm curious as to what kinds of things you (and other buyers of older boats) have had to do to bring the boat up to Ready to Sail condition. Were there any major things? It would just help me keep track of what I should be watching out for and maintaining in my older M15. Bobbie _______________________________________________ http://mailman.xmission.com/cgi-bin/mailman/listinfo/montgomery_boats ________________________________________________________________________ AOL now offers free email to everyone. Find out more about what's free from AOL at AOL.com.
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Bobbie Mayer -
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