Nordic Tug 32' Value

Hello, I am looking at buying a 1998 32' Nordic tug being sold by owner, not broker. About 900 hours on the Cummins engine, 5watt generator, bow thruster, good auto pilot, average electronics otherwise. It has been barely to not at all used the last 3 years. Needs a lot of updating. (needs new fridge, bimini, upholstery...) I will have an engine survey/ oil analysis and a marine survey, and any surprises would change the price. Having said that, we agreed that the "starting" sale price will be $100k. That looks good compared to the "for sale" comparables, but, of course, I do not have "sold" prices. I don't have access to a broker. Can anyone give me opinions on this sale price?

I shopped for them about 2 yrs ago and it seems you're in the ballpark. $100K seems to be rock bottom. Don't think I've ever seen one under 98K. And there's lots for 105 to 120K. They may be a better value.

I wouldn't buy a Yanmar powered one as no parts are available. Better to pay for one w a Cummins. I'd like to find one for $60K that needs a repower. Then I could install in a smaller engine.

Check out the Eagle 32 for sale on this site.

T32 it can be a bit of a loaded question you are asking without a lot of detail provided but I agree with Eric above that it sounds like it is in the ball park. I have seen a pair of Nordic Tug 32's running around the Delta a few times now, sure are good looking boats.

Thanks for your thoughts. I think my frustration in buying a boat is that the SOLD prices are kept somewhat secret, or restricted. Without a broker to look them up we are left to guess. Buying a home used to be like that when the MLS system was very protected, but now it is all very open and transparent.

I have surveyed a couple of these this year and you are in the ballpark. When you pick your surveyor have him look them up in advance to make sure you are on track. No point in paying to perform all the due diligence if the price is not right. If you can't get help with that pm me the specs and I will look up some sales for you.

I have been looking at NT's as well. From what I have seen, NT prices vary geographically. Tugs in the PNW seem to have the highest prices. Many of the tugs here in California seem to have been on the market for a long time. The brokers I have talked to told me they would be happy just to be able to present their clients with an offer. I would guess this would be true in other areas as well... if you search the archives here, I saw an nt42 sell real cheap as the owner just wanted out. I am not sure about the boat you are looking at, but I am confident I could pick up a nt32 inthat year range for $75k, but maybe not one with that low of hours. Then again, I am not so sure if a motor with that low of hours is a good thing. I am interested in hearing about the results of your engine survey. Also remember that soldboats.com only records the price of boats sold through brokers which may be priced higher than a PP sale.
Scott

Nordic Tugs in the SF (central California) area seem to have a "tight" organization. "Ran into" several NTs meeting up in Petaluma earlier this year. They're friendly/courteous boaters. NT Three Jeans was the first boat in two years to call and coordinate a passing with me.

markpierce said:

... NT Three Jeans was the first boat in two years to call and coordinate a passing with me.

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Well, except for Ray's Mahalo Moi, who called for a passing earlier that day. (The voyage to Petaluma was Ray's idea, so I let him lead the way up the shallow waters there.)

markpierce said:

(The voyage to Petaluma was Ray's idea, so I let him lead the way up the shallow waters there.)

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You are a generous man Mark

CPseudonym said:

You are a generous man Mark

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But I lead the way the next time!



(Broad does not equal deep.)