Defever 49 for $95K - Sign of the times?

pilothouse king said:

The lowest prices on nice yachts have been in the Bay Area. We don't count them as comps though, because of their geographic isolation, and that bugaboo of dockage and insurance to keep them there.

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And the irony is we (in the PNW) discount boats from Florida because we think they're all hurricane salvage!

I am (personally) most concerned about sun damage, particularly in combination with salt. I'm content to live and boat in a locale where "the sun don't shine" most of the year!

hollywood8118 said:

Maybe the P.O wants out now and has just listed low to move it.. normally you can tell if a boat is a dog or a gem in 15 minutes.. on the surface it looks like a decent old boat. If ANYBODY expects to buy a 30 year old 50' boat for under 100k without ANY issues they are on crack. New 50' is 800k +... 705k buys a lot of happiness and leeway to deal with some issues.
Interested in the boat .. go look at it.. decide if it is a P.O.S. in person. If not why speculate. May be a deal.. may be not. But it does look clean for its age.. unmolested.. clearly taken care of by the look of it.. and the notes on the whiteboard in the E.R. are a good sign

HOLLYWOOD

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This!!!

I'm watching several boats die a slow death locally because they are priced too darn high. The owners are still paying $500+/month for berthage plus insurance. Since the boats listed they either hire someone to clean it or let it be reclaimed by the environment and continue to depreciate. Cut the price to reality and get a quick sale for crying out loud and move on, this guy has. He bought a larger boat and appears knowledgable enough to know how to sell a boat.

I can sell my boat this weekend if I so desired because the purchase price up front was "right".

I think part of the reason some boats are listed at a high price and never sell is that the owners bought them with a standatd 10 or 20% down payment and long term financing.

The boat has simple depreciated faster than the loan is getting paid off.

My boat was bought new in 2001 for I have no idea the price, and financed through Key bank.

When I bought it as a repo the previous owner still owed over $300K on the boat and the market for a excellent condition model was somewhere in the $225K range.

So, he quit making payments, and let the boat sit, eventually getting repossessed.

On the low priced defever, Time will tell if the boat was a great deal. If it gets sold right away it was probably a great deal. If it sits, it is just another old boat.

I do not care what my boat or any other boat is worth. I know my boat very well and like any 27 year old boat it has some issues that need attention most of them I can take care of by myself. If I wanted to buy a larger boat then I may have some concern of value to others, I don't desire any other boat than Northern Lights II. That lack of lusting after something else allows me to enjoy boating much more with what I already have

Looks like it's too late. The listing now indicates "sale pending."

Zing!!

If a deal looks promising, one must be prepared to JUMP on it immediately!!!

I'm willing to bet that $95K was not very far off the price of the new Norther Lights installed and the fresh awlgrip paint job.

thugger said:

Looks like it's too late. The listing now indicates "sale pending."

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Well at least it didn't thoroughly depress the Defever market for too long! Hopefully it will recover.

Dave

magicbus said:

Well at least it didn't thoroughly depress the Defever market for too long! Hopefully it will recover.

Dave

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This IS the recovery, the fact a buyer is sniffing at her IS proof. Asking for anthing more, you need to remember your recent High School reunions, and how everybody now looks. In case you have one of those lying "magic mirrors", you need to find a photo of yourself in the year this boat was built, then stand naked in front of another mirror (or a stranger) and compare to now. Then make that "recovery" wish, whilst listening to Time by the Chamber Brothers. :lol:
Time has come today.........

pilothouse king said:

Then make that "recovery" wish, whilst listening to Time by the Chamber Brothers. :lol:
Time has come today.........

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Or perhaps Time by the Alan Parsons Project.

Time, flowing like a river....

I spoke with a broker that I have dealt with in the Puget Sound area in the past. He called on this one for me. This boat was owned by a wealthy guy who just bought a newer, bigger boat to make his newer, younger wife happy. Wanted his old boat gone, probably old wife too. Now the broker that sold him the newer, bigger boat has bought this little jewel for his own.

Billyfeet said:

I spoke with a broker that I have dealt with in the Puget Sound area in the past. He called on this one for me. This boat was owned by a wealthy guy who just bought a newer, bigger boat to make his newer, younger wife happy. Wanted his old boat gone, probably old wife too. Now the broker that sold him the newer, bigger boat has bought this little jewel for his own.

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Thanks for reporting the facts to the mystery. Even wonder if perhaps the ex wife was getting half the proceeds. That does happen sometimes, you see a boat really reduced because proceeds are being split.

Dang!! If it surveys as good as it looks. . . That's a heck of a buy!!

Does the awlgrip paint job mean that the house was painted or is it a bottom paint? Sure looks like someone loved that boat!

Don't read anymore into it than is listed, if this boat was on the east Coast it would already be under contract.

The seller is obviously motivated and this one seems like a great buy, I think he is too motivated and priced this boat way too low hence all the skepticism on unknown facts. It is dated but the upgrades would not cost you too much.

This boat may or may not be stabilized so instead of speculating to why it's so low look at it as if it is an opportunity until it's proven different.

My 49 Defever although ten years newer has just completed the loop and over 6000 miles apart from regular scheduled maintenance costs our only unexpected mechanical after we departed was a $120 damper valve on an injection pump.

As a previous poster said don't read too much into it, my thought someone is going to get a good buy.

Donsan said:

Or perhaps Time by the Alan Parsons Project.

Time, flowing like a river....

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I just listened to them, as had never heard them before. I'll give them credit for having the ability for stopping time, as in "sheesh will this song end before I can reach over to my gun, and shoot myself? Lol" I'll take the Chambers Brothers version of reality any day, as it made me transition over to Miles Davis My Favorite Things afterwards.
Guy above me; I haven't seen any sale in years that wasn't a good buy- at the time.

Love the Chambers Brothers. Thanks for the memories.

Dave

I'll try not to read (or write) too much into this but, if it is true that a broker picked it up, that is a good sign.

We picked up a few rental houses as the real estate market (supposedly) was in recovery in 2010. After the mortgage bust a Lot of property came on the market. Of course, some of the best deals were sucked up by the real estate brokers and sales folks, but at some point (before the Chinese arrived in charter buses) they had their fill and what was left, normal folks had a chance to pick up.

No doubt the boat (and RV) market is somewhat delayed, but the first wave of baby-boomers are now shedding their boats like they did their big homes for health reasons, so a lot more boats will be coming on the market. Unfortunately, I fear most of them will have been neglected for a number of years. I see many more of these kinds of deals coming in the next 5 years.

As mentioned above, if one is seriously interested in these kind of deals, keep your powder dry and ready to fire when the Brokers get their fill of the best deals - I think many more will be coming.

magicbus said:

Love the Chambers Brothers. Thanks for the memories.

Dave

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Hence the forum name perhaps?

Because of Pilothouse King I now have one of the Chambers yelling "Time!" in full reverb periodically in my head. Doesn't make for great plane napping.

SaltyDawg86 said:

Man, I wish that boat was on the East Coast! The pictures look really nice and my guess is it's for sale at that price because he doesn't want 2 boats.

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That's my take too. A lot of boat for the money!!

Time waits for no-one...
Rolling Stones __ Time Waits For No One - YouTube

No interest/offers = $ too high
Interest/no offers = still too high
Interest + offers = in the $ range.
A repaint like that would be well north of 60K here imo, depending whether initial or repaint.
I`d check what is under the fresh paint, but all over it looked a very nice older boat. Good luck to the buyer.

BruceK said:

No interest/offers = $ too high
Interest/no offers = still too high
Interest + offers = in the $ range.
A repaint like that would be well north of 60K here imo, depending whether initial or repaint.
I`d check what is under the fresh paint, but all over it looked a very nice older boat. Good luck to the buyer.

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It's hard to know exactly what has been done to it recently but looking at all they talk about having done it would seem they spent more on the refit than they're selling it for. Now perhaps not, but that does sometimes happen.

My previous owner got 20 cents on the dollar for his refit efforts(with receipts to prove it). If you think refitting a boat is profitable you're either a fool, genius or a yard owner IMO.

The boat that was asking $95K in 2014

The boat that was asking $95K in 2014, has been relisted for $185,000 in 2016. It still has the original name "Pelican V" home port Edmonton Alberta. The Canadian vessel was deregistered in October of 2014.