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Old 05-16-2014, 08:50 AM   #1
Jpw
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Nordhaven 47005 Kathleen

Hi Forum members,
Wondering if anybody on the forum knows anything about the. Nordhaven 47 Kathleen for sale by owner in California? She is hull #5
I was interested in the ship but had reliable information that it was marooned in Tahiti between 2007-2011 and suffered water damage in a typhoon.
Apparently repairs to the interior were completed after it arrived back in the US A. On the trip back however there was a major failure in the exhaust manifold resulting in major soot exhaust contamination and corrosive releases into the engine room . This explains the apparently poor condition of the engine compartment relative to the exterior. Any further info or comments are appreciated.
Thanks
JP
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Old 05-16-2014, 10:02 AM   #2
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If she's been through what you describe, then she becomes in my mind a wrecked and salvaged boat of some nature. If that part were disclosed he'd never come close to getting market. Doesn't matter how perfectly he's fixed things, just the way the market is. 2003 47's which haven't been through that have an asking price of $699,000 and $685,000. So my first thought is he has it priced well above market. Now he's not disclosing it's history on the ad. How did you find out? I'm guessing he bought it after the marooning? Do you know? Perhaps he got it at a salvage kind of price and redid it to where it is now?

I would contact him and ask about it's history, not telling that you know. See what his response is. You'll learn one thing quickly and that is if you're dealing with an honest seller. I don't care how well it's been restored if the history is as you say, I would consider $500,000 top of market and that is with perfect survey. I've seen boats take as much as a 50% price hit as recoveries.

I'd bet if he bought it after marooned and the typhoon he paid no more than $200,000 and could have been as low as $100,000. Or less.

Now the extent of the typhoon damage is important and we don't know what that was.
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Old 05-16-2014, 10:22 AM   #3
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Nordhaven 47005 Kathleen

I don't know anything about N4705, but if you have any general questions on the N47 feel free to ask. Just looked at the listing I wouldn't pay a dime over $450,000 by the sounds of it their some serious possibilities you're going put money into that boat. We put in excess of 100k in our fairly good condition 03 47, so there's a big possibility you could be putting double that, just for interior work.
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Old 05-16-2014, 12:06 PM   #4
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Quote:
Originally Posted by Jpw View Post
I was interested in the ship but had reliable information...
Would you care to share the source of this before we have the owners attorney contacting the forum?
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Old 05-16-2014, 12:41 PM   #5
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Would you care to share the source of this before we have the owners attorney contacting the forum?
I'd suggest he call the owner and ask them. He is interested in it. If the owner denies it then he should post that.
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Old 05-16-2014, 10:35 PM   #6
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The information on the typhoon and transit events was provided by a veteran yacht broker that had listed the boat for the original owner.
The broker had direct knowledge of the interior teak repairs including the name of the woodworker and date of the work done.
The subsequent delisting and private sale followed to the present owner.
There appears to be no engine or mechanical maintenance logs available on the ship. Inspection of the ship reveals very good cosmetic condition exterior hull and interior. The engine room shows signs poor care and the aforementioned exhaust
Leak that resulted in contamination of the space with oil soot and corrosives.
No disclosure was made or acknowledged by the owner when asked about these issues.
As attractive as the low hours and outward appearance seems, I suspect that there are significant latent issues as a result of the past history.
My sense is that the cost of remediating will exceed 40-50k and from your advice maybe higher. It also seems unlikely that the ship will outrun its past when it comes to resale value and the hit will likely be six figures under comparable boats.

Appreciate the feedback from the forum in trying
To avoid trouble with the acquisition.

JP
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Old 05-16-2014, 10:57 PM   #7
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Jpw

If you are really serious about getting into a Nordhavn, are financially able to enter this expensive game and not a tire kicker - PM me for a suggestion or two on how to get to the bottom of the issues.
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Old 05-16-2014, 11:02 PM   #8
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Sounds like you have already been in touch with the right person. Those FSBO boats are there for a reason. You really do need to hire a knowledgeable buyers agent to assist you with these boats. They are not all the same.


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