[alberg30] Addendum to 66 ALBERG 30

[Shawn Orr]

From: "Shawn Orr" <Shawnwilliam at msn.com>

You should not pay anything more than $4,000.00 for this boat.  My boat was
in very good condition.  All it needed was new running rigging, DF, and
varnish the wood.  I paid $8,500 a year ago.

Shawn Orr
IL Molino
#307
----- Original Message -----
From: <dai at pdq.net>
To: <alberg30 at onelist.com>
Sent: Tuesday, January 18, 2000 11:30 AM
Subject: RE: [alberg30] Addendum to 66 ALBERG 30


> From: "dai at pdq.net" <dai at pdq.net>
>
> Timothy:
>
> Thanks very much for the input. I did check the average condition price
and
> I knew that I should poke around the boat, find all that I could and make
> an offer well below the asking price. The question is, how much work is
there
> to do and you are right, there will always be expenses hidden in things
found
> after the sale...even after a survey.
>
> The boat does have serious cosmetic problems, which, from what I can see,
just
> replacing topside would and refinishing along with a complete wordwork job
> below would amount to a grand or so from what I can tell. The boat did not
> appear to have moister inside but that was from a 1 hour or so going over
the
> boat last weekend.
>
> Anyway: You have responded with some of what I needed before I go back
aboard
> Saturday. I think the correct offer should be around half the average
value or
> less....
> but that is my guess.
>
> OTOH: The sails are decent shape, the standing rigging intact. The engine
> overhauled, though an old vitus 2 cyl.
>
> The areas of where the Alberg 30 has troubles historically is where I am
> looking next. I want to go armed to the basin with data, and spend a long
> time checking things out. Back to my researching....
>
> Thanks very much,
> David Bell dai at pdq.net
>
>
> From: "Timothy C. Lackey" <tlackey1 at maine.rr.com>
>
> David,
>
> The low end of the BUC book pricing for a '66 Alberg 30 in AVERAGE
> (BUC)condition--meaning ready for sale and use with no additional work
> required, and equipped as generally expected for the size range, is
$13,500.
> Sounds like the boat you're looking at is well below BUC condition.
> Therefore, you should not offer anywhere near the asking price.  In
addition
> to the cosmetic problems the boat seems to have, it sounds like the
previous
> survey may have discovered more serious problems--or else the appraised
> value just didn't come close to what the stubborn owner and broker wanted.
> That's why the deal fell through.  The boat has also been for sale for a
> long time, indicating that there are unrealsitic expectations by the
sellers
> given the condition of the boat.
>
> Depending upon the amount of work that is required to bring the boat back
to
> usable, AVERAGE condition (upon which the BUC values are based), you may
> deduct anywhere from 25% to 80% of the above quoted value.  At a minimum,
> this should reduce your offer price to 10K (25% less than BUC value) and
> probably lower.  If the boat is basically in shambles, and you will have
to
> do some structural work, cosmetic work, mechanical and systems upgrades,
and
> rigging/sailing gear upgrades--not to mention current electronics--you
> should offer at the very low end of the spectrum.  BTW, 80% off the low
BUC
> value indicates a value of $2700--not far off if the boat is in bad, yet
> restorable condition.
>
> I applaud you for having an interest in an old, run down Alberg--I hope
you
> are able to buy her and bring her back to life.  However, expect there to
be
> problems with the boat, and expect to spend a fair bit of money to restore
> the boat.  Just make sure you don't pay too much for a boat based upon a
> broker's asking price and recommendation--they obviously want to get as
high
> a commission as possible, and they never work for you--it's against their
> best interests to help negotiate a low price.  In my opinion, the asking
> price is too high, and is obviously driven by a broker's advice as to what
> he thinks "low end" book value means.  He's wrong, if the boat needs the
> attention it sounds like she does, and the value is likely much lower.
You
> may also be running up against the problems inherent with an estate
> sale--typically inflated expectations by the heirs as to what the
inherited
> property is worth.
>
> Find a good surveyor, and get the boat surveyed!  Money well spent,
> especially if the appraisal comes in way below the asking price.  Without
a
> survey, a low offer by you will probably be shrugged off by the
seller--may
> even do so with a surveyed value.  Having an unbiased survey is the only
way
> for you to know everything about the condition of the boat, and will give
> you the crucial information you need to make a realistic offer.  Make sure
> the surveyor is working only for you and isn't in the pocket of the
brokers.
> You will then likely get a thorough and informative report and value for
the
> boat, and can decide how to proceed.  Walk away from the deal if you feel
> the sellers are demanding too much money based upon your survey.  You'll
be
> initially sad, but much happier in the long run.
>
> Remember:  you are looking at a 34 year-old boat--albeit a great one.
There
> is a limit to how much value she will ever have.  An Alberg 30 in your
area
> in perfect (Bristol) condition--meaning better than factory new, loaded
with
> extras, perfect in every way--very, very rare--would top out (max) at
around
> 20K, according to BUC.  Likely she will be valued lower--in other areas of
> the country it would be definitely lower.  Therefore, if she needs alot of
> work, you must buy her for the right price--and still will probably end up
> losing money if you were to sell her afterwards.  I bought my '63 Triton
for
> a song, realizing that she needed everything done to her, but I don't
think
> I could ever make money on the deal, even though my plan is to get her to
> that exulted "Bristol" condition.  However, I plan to keep her for years,
> and doing the work I am will make me happy and proud of the boat--but I
will
> lose money in the long run.
>
> The long and the short of the above is that buying the boat would be
great,
> and would be great to restore her--but don't pay too much, or get into it
> uninformed.  There is much involved with the renovation of an old boat,
and
> hidden problems WILL arise, guaranteed.  Just take all steps necessary to
> protect yourself from paying too much, or getting into more than you can
> handle.
>
> Hope this helps--sorry it got so long!  Keep us informed as to what you
find
> out.
>
> Tim Lackey
> Glissando, Triton # 381 (very similar to the A-30)
> www.geocities.com/triton_glissando
>
>
>
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