This is an interesting deal

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A 50 year old, $240K Tolly is mind-boggling.

A $600K refit on said Tolly is insane.

An $85,000 paint job?!? WTF?!?
 
Awesome refit. I do believe that boat has the squarest stern I’ve seen. I’d definately want to stay aware of any broach threats on inlets.
 
I am familiar with the boat but not with the owner. It is literally a two year old boat equipment wise. Way more than just a paint job. Every wire, hose, rub rail and so on is new. Unfortunately it is a 50 year old design. If you always wanted a brand new 1970 Tollycraft then this boat is a deal.

For $239,000 I believe you can find more boat.
 
I would not want it. No island berth. Ever struggle with putting on sheets on a master stateroom berth like that. Why have the angled counter in the galley? Takes up a lot of room. What is with the high chair on the flybridge? Some may like it but it looks out of proportion to my eye. I do like the humongous swim platform but it also is out of proportion. The engines are awesome but it looks really tight in the ER. I can believe the price of the paint job having just painted my boat. What I have trouble believing is that anyone would spend $600k on a refurb of this size boat.
 
Comodave said:
I would not want it. No island berth. Ever struggle with putting on sheets on a master stateroom berth like that. Why have the angled counter in the galley? Takes up a lot of room. What is with the high chair on the flybridge? Some may like it but it looks out of proportion to my eye. I do like the humongous swim platform but it also is out of proportion. The engines are awesome but it looks really tight in the ER. I can believe the price of the paint job having just painted my boat. What I have trouble believing is that anyone would spend $600k on a refurb of this size boat.
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You didn't mention the kitchen sink. :socool:
 
Sabre602 said:
A 50 year old, $240K Tolly is mind-boggling.

A $600K refit on said Tolly is insane.

An $85,000 paint job?!? WTF?!?
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Another example of dumb people having money and smart people teaching your children for peanuts?

Like the $12million houseboat a few days back.
Anyone with half a brain would get similar for less than $1m
 
I have met the owner and seen the boat. He is definitely not a dumb person. In fact, one of the smartest, most practical persons I have met. Think global, all encompassing self made engineering types. Some people who have a lot of money do it for just the fun of the project.

The quality of work appears to be extreme topnotch. That being said, it is not my type of boat. I won't chime in on the price, but for the person who is looking for this type of boat, they probably can't do better.
Tator
 
Why ? Because he could.

Same reason this fella put 21yrs and $2,500,000 building this
 

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Tator said:
I have met the owner and seen the boat. He is definitely not a dumb person. In fact, one of the smartest, most practical persons I have met. Think global, all encompassing self made engineering types. Some people who have a lot of money do it for just the fun of the project.

The quality of work appears to be extreme topnotch. That being said, it is not my type of boat. I won't chime in on the price, but for the person who is looking for this type of boat, they probably can't do better.
Tator
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Is it really that smart to take a $400k loss?
 
It is if $400k is just walking around money.....

We don’t know much about the sellers financial status, but it may not be a big deal with him. Besides it is not uncommon to sell completed projects or hobby builds at a loss: for example, custom cars and hot rods are usually sold for dimes on the dollar and thus can be great bargains. Sometimes the pleasure is in the creation, not in the profit from the sale afterwards.
 
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I've seen the boat, looks very nicely done and everything is new. Tolly's have a really nice hull and run well. If you like the look that boat is a deal.
One negative, with that transom extension you're likely squeezing that boat into a 50ft slip, big slip are expensive and hard to find.
 
Tator said:
In fact, one of the smartest, most practical persons I have met. Think global, all encompassing self made engineering types.
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So academically brilliant but regarding common-sense and street smarts, in the lower 20th percentile.

(I'm a computer engineer, so before people start getting offended......)
 
Have I missed something? I don't see a generator listed anywhere in the specs.
 
Fuel tank 265gal, looks pretty small for a boat burning 20g/h at cruise speed no?

L
 
Smart, rich people usually dont waste even pennies.

Refurbishing a classic is one thing, throwing money arpt some project is another.

This gentleman did kerp the boat 4 more years which can be a lifetime sometimes.

Changing your mind isnt stupid unkess you had an inkling at the time of the project or not enough money that $600,000 was more than a decent days pay.
 
Agreed, leaving $400k on the table may or may not be smart. It could be pocket change for him.

There's a reason for everything and this guy has a reason NOT to want this boat enough to sacrifice those dollars. However, just because he put $600 into it, doesn't mean it's worth that much.

Rich or poor, smart or stupid has nothing to do with it unless you know the details.

Now, if the guy worked all his life to save up $600 to blow on a boat and will have nothing when sold, that could sound stupid.

But what if this guy has a million dollar profit on the back burner that requires $200k to get into and all his other assets are tied up. I do business with a LOT of those guys... not quite in that magnitude but same principle.

Not my boat either...too many things I just don't care for and not sure I want that big of boat.
 
On another tangent: To me buying an older boat still scares me. I'm looking at some older Grand Bank 36's and a 42 classic this weekend and next week. The boats are both from the mid 80's. I'm still terrified at the idea of throwing down a fair amount of coin on a 30 year old boat! I'm hoping that when I see them in person I'll be blown away. There's only so much one can glean from Yacht World....

I see that many TF'ers have boats from the 80's. Have you had them for a long time? Or has anyone recently purchased a 30+ year old boat?
 
In my opinion it is all about regular maintenance and upgrade. I saw 30 years old boat that were pristine as the owner was of great care and on the other I saw 10 years old ones that were rubbish as neglected as they were...

L
 
The money spent on the vessel in question is not any different than the losses people take on a new boat purchase. Or buying art, Porsches or race horses.

Or the hundreds of car buffs who spend oodles of dough on fixing up 57 Chevrolets and selling for dimes on the dollars. If you are a used boat owner you’re thanking the bozo who bought your vessel new.

I applaud the owner for living his dream his way. +1
 
sunchaser said:
The money spent on the vessel in question is not any different than the losses people take on a new boat purchase. Or buying art, Porsches or race horses.

Or the hundreds of car buffs who spend oodles of dough on fixing up 57 Chevrolets and selling for dimes on the dollars. If you are a used boat owner you’re thanking the bozo who bought your vessel new.

I applaud the owner for living his dream his way. +1
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My thoughts exactly. Not every decision is a financial one. If so, most of us are stupid for even owning a boat as we would be far better off chartering as needed. Financially, buying a new car is one of the most stupid financial decisions anyone could make. Even so, I've done it twice in my life and I imagine I'm not alone. Just look at the cost of going out to a nice dinner. Ridiculous financial decision other than it gives us pleasure. My guess is that the refit on his Tolly gave him pleasure. Good for him.
 
3 years ago we bought a 1987 41’ President. It had been fairly well maintained mechanically but neglected cosmetically. I lobe working on boats. This one is our 23rd boat. We have done a lot of fiberglass work and painted the whole boat. New hardtop on flybridge, new enclosure, new electronics, new stern thruster, new main electrical panel and rewire boat so it does not trip GFIs on the docks. New portholes and so many small jobs that I can’t remember. That said it is what I like doing and we bought the boat with that in mind. Any 30 year old boat will likely need some work the idea is to get a boat that your ability and desire to work on it match the work that is needed. Check out the boat carefully and make an informed decision. Good luck.
 
toocoys said:
Is it really that smart to take a $400k loss?
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If it makes you happy and you can afford it, perhaps. To judge someone else's choice without knowing the entire story and call them stupid is....well....stupid. People make decisions I'd never make every day but that doesn't mean they're stupid.
 
dhays said:
My thoughts exactly. Not every decision is a financial one. If so, most of us are stupid for even owning a boat as we would be far better off chartering as needed. Financially, buying a new car is one of the most stupid financial decisions anyone could make. Even so, I've done it twice in my life and I imagine I'm not alone. Just look at the cost of going out to a nice dinner. Ridiculous financial decision other than it gives us pleasure. My guess is that the refit on his Tolly gave him pleasure. Good for him.
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Everyone who owns a boat has made a poor financial decision and for the same reason as his, pleasure.
 
Almost 30 years ago I knew a guy in his late 20s who was busy spending his share of a family fortune and took an interest in sailing with no prior experience. Looking for something striking and unique he bought a 20 year old 46' boat for about 80k. Classic design but all original. Over the next 3 years he spent at least 300k on the boat. New winches, sails, deck hardware, completely repainted, new electronics, interior refinishing etc etc. Never really sailed the boat but had tons of fun working with a very good full service yard to fully restore the boat. It was truly striking and unique when he was finished.

After a few years he lost interest, sold the boat for $120k and moved on. I don't think he had any regrets. Buyers sailed the boat around the world.

People choose to spend their money in all sorts of ways. I've known a few who spent enormous sums restoring and maintaining classic sailing vessels, and was always appreciative that they were part of the community. Generally they had their eyes wide open and recognized that they would never come close to recouping their costs.
 
BandB said:
Everyone who owns a boat has made a poor financial decision and for the same reason as his, pleasure.
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Rubbish.
Plenty of people buy and live on boats because it is considerably more affordable than the land based alternative.
 
Here on Longboat Key, there’s a lot of well-to-do people, one of which spent about the same money on an old boat and probably lost 90% of it on the sale. He still says dollar-for-dollar, doing it just the way he wanted made it the most fun he ever had.
 
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