[alberg30] Addendum to 66 ALBERG 30

Tue Jan 18 11:51:34 PST 2000

From: Brian Zinser <bzinser at nmu.edu>

I agree, I have found BUC values to be inflated, especially for boats in
these parts.  I suffered when I sold my old boat, but benefited when I
bought my new boat.  Its worth what somebody is willing to pay for
it.  Make a fair offer and sit.  I'll bet you will hear from them again.

Brian Zinser
Manana #134

At 12:54 PM 01/18/2000 -0500, you wrote:
>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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