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Old 09-03-2015, 02:57 PM   #1
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purchase time?

Hello all. I would appreciate a little advice/assistance please. I will be heading to San Diego to see a boat next week. It's a Monk 36 (1983) with an aft cabin. Looks to be solid. Asking price is 79,500. I have no idea if this is in the ballpark. Some particulars: Single diesel, no teak decks, bow thruster, radar, radios, dinghy with outboard on davits, enclosed flying bridge...nice. I am an ex-sailboat owner and that was a long time ago. Main concerns: real world value, the bottom, cost of ownership and potential pitfalls in a boat 32 years old. Thanks in advance.
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Old 09-03-2015, 03:35 PM   #2
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It all depends on condition. The price looks to be in the asking range, again depending on condition. The older the boat, the more important the survey and oil analysis.

Ted
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Old 09-03-2015, 04:20 PM   #3
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1985 for 89K

83 for 79k

86 for 74K

83 for 79K there's a second one also

85 for 88K

87 for 99K

So yes the asking $$ is in a ball park, but what offer they'll accept is another ? after inspection & survey.

I would shoot for 15-20% less than asking if it checks out, this is the end of the season in most areas
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Old 09-03-2015, 04:49 PM   #4
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The Monk 36 seems to have a steady flow of interest from Baby Boomers wanting to get into the trawler lifestyle.


It is big enough to be practical for long or short cruises, Many Loopers have chosen and will continue to pick the Monk 36 for the trip.


Price seems right if she is in good shape. As mentioned before offer less you may get lucky.


Have fun JP
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Old 09-03-2015, 05:01 PM   #5
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I asked a broker friend to run Soldboats, the broker's Yachtworld database of actual sold values for 80-90s models.

This is what he found:

36' Monk 36 1989114,900(01/15) 87,000 (05/15) NC, USA 36' Monk 36 Traw... 198797,976(08/14) 89,621 (06/15) ON, Can 36' Monk Trawler 1989118,655(06/14) 73,000 (06/15) QC, Can 36' Monk Trawler 198589,500(11/14) 80,000 (06/15) ME, USA


36' Monk Trawler 36 199089,900(11/10) 85,000 (04/15) NJ, USA
36' Monk Trawler... 198797,976(08/14) 89,621 (05/15)ON, Can 36' Monk Trawler 36 198359,900(12/14) 50,000 (01/15) CA, USA 36' Monk Trawler... 198489,700(07/15) 80,000 (08/15) SC, USA

Sorry it looked a lot better on the edit screen vs what actually printed, but you can probably figure it out.


If you focus on the three oldest which are closest in age to your boat, the range is $50-80K. The $50K boat has old electronics that would take at least $10,000 to update, but otherwise it looks fine from the pictures and has a NL genset and two A/C units.

David
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Old 09-03-2015, 06:18 PM   #6
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The OP asked me in a PM to run Mainship 390s. I can't copy the Soldboats output like I did above. Copying got real squirrely. But they ranged from $79,000 for a 1997 to $118,000 for a 1999. I don't think they were made before 1995. These were Mainship 350 and 390s, basically the same boat with a name change in late 1990.


David
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Old 09-03-2015, 08:02 PM   #7
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I have a 38 year old boat s maybe I can address some issues with buying an old boat.

I have average mechanical ability with basic tools and above-average systems knowledge. I have learned how to maintain the boat with confidence. Some projects are tougher than others, but I receive great advice and encouragement here at TF. If you are mechanically inclined and willing and able to do the work yourself, it can keep the cost of ownership down.

When I bought my 1977 boat, it was 30 years old. The interior had just been replaced along with the fuel tanks and new dripless shaft logs. All the brightwork was in great shape. All engine mechanicals were in good shape but I knew I needed to replace the exhaust mixing elbows when I bought the boat. So I just had to maintain the boat in its present condition while upgrading components and sub-systems to my liking.

I found that in upgrading the electrical, windlass and plumbing (primarily head and water heater) systems, I found other items needing attention and learned LOTS about my new-to-me vessel. By tackling it one system at a time, I was able to bring the boat up to my standards and better fit my needs on my time schedule and within my budget.

If you're buying a boat that requires significant interior updating or in-depth structural, systems or powerplant work, the workload and expense could easily become overwhelming. The cost of ownership and pitfalls related to buying an old vessel are all tied to the boat's condition and your abilities to do the work yourself or pay someone to do it for you.

The real cost details can be revealed in a thorough survey and a realistic view of what you can and cannot accomplish on your own.
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Old 09-03-2015, 09:02 PM   #8
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This is a very informative post

Quote:
Originally Posted by FlyWright View Post
I have a 38 year old boat s maybe I can address some issues with buying an old boat.

I have average mechanical ability with basic tools and above-average systems knowledge. I have learned how to maintain the boat with confidence. Some projects are tougher than others, but I receive great advice and encouragement here at TF. If you are mechanically inclined and willing and able to do the work yourself, it can keep the cost of ownership down.

When I bought my 1977 boat, it was 30 years old. The interior had just been replaced along with the fuel tanks and new dripless shaft logs. All the brightwork was in great shape. All engine mechanicals were in good shape but I knew I needed to replace the exhaust mixing elbows when I bought the boat. So I just had to maintain the boat in its present condition while upgrading components and sub-systems to my liking.

I found that in upgrading the electrical, windlass and plumbing (primarily head and water heater) systems, I found other items needing attention and learned LOTS about my new-to-me vessel. By tackling it one system at a time, I was able to bring the boat up to my standards and better fit my needs on my time schedule and within my budget.

If you're buying a boat that requires significant interior updating or in-depth structural, systems or powerplant work, the workload and expense could easily become overwhelming. The cost of ownership and pitfalls related to buying an old vessel are all tied to the boat's condition and your abilities to do the work yourself or pay someone to do it for you.

The real cost details can be revealed in a thorough survey and a realistic view of what you can and cannot accomplish on your own.
Al,
If all of us would heed this advice it could save numerous strained muscles and empty savings accounts. It should be a sticky
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Old 09-03-2015, 09:04 PM   #9
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purchase time?

Thank you kindly one in all. Most helpful. I wish I was better with electronics and diesel engines...I just ain't! A good survey will have to do. I will remember the oil analysis and the 15-20% price reduction when I get closer to knowing the bottom line. TF you ROCK!!
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Old 09-03-2015, 10:08 PM   #10
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My Dad had a i think a 79 Monk McQueen
great boat . 70 feet
fully updated with huge battery banks plus big inverters and every thing new over the 7 years we owned it genny, water maker all new toilets all kitchen app all new electronics plus bow truster
rolled like a son of B but sure cut thru the waves nice.
great handling boat great looking boat.
very hard to sell 10 years ago for 145 K CAN and the broker started off at 280K till we just dumped it
wood boats are really not desirable
And if not boat house kept 3 time worse to keep up
Wood does have benefits but really work on the price
the 86 year old guy that bought it from us parked outside and just used it after 3 years out side with no maintenance it sold for 70 k and then the guy who bought it parked it at a out side down town Vancouver dock and is using it as a condo slowly working on it.
wood boats are labours of love that can be rewarding
get a good deal on it
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