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Old 07-26-2020, 01:55 PM   #1
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Big boat questions from a newbie

I have no yachting experience & am just a wannabe C-19 browsing yachtworld & dreaming. The wife & I need to try a few charters before really considering getting a boat. But, I can't help myself from shopping.

Anyway, I've found this big gorgeous yacht, a 1983 112' Benetti, that seems like a great price for such a large boat. Since I don't have any experience I realize that there's a catch of some sort. Maybe there's hidden issues with the boat, but I figure the most likely issue is the cost to operate, dock, and maintain such a large vessel.

So, if you've got time to explain why a boat like this is only $600K, and what you'd estimate the costs to own & operate it are I'd appreciate the education.

https://www.yachtworld.com/boats/198...-m-y--3040602/
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Old 07-26-2020, 02:15 PM   #2
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A boat that size takes crew. If you can afford the moorage, insurance, maintenance, fuel and crew, you can afford a nice new shiny 10 million dollar yacht. There is almost no market for 30 year old boats over 80 feet.
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Old 07-26-2020, 02:56 PM   #3
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Actually there's a big market for older, large boats, but 99% of the people looking have no money. I've sold several, but only thru a broker who screens the lookers.
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Old 07-26-2020, 02:59 PM   #4
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Here is a little home work for you:

Call some of the marinas where you would like to keep the boat and ask how much moorage would be and how many years the waiting list is.

Next, call some companies that insure big boats and get a quote for coverage. Don't forget the marina would also probably need to be added to the policy. Maybe you should tell them first that you have no experience and see if they will even continue the conversation.

Then carry on with your plan to charter a much smaller boat. Call some charter companies and discuss it with them. Do this well ahead of time because there will be some training you will need to go through before they will turn you loose with one of their charted boats. In the mean time, keep reading this forum. Good luck sir.
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Old 07-26-2020, 03:57 PM   #5
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Guys I don't think he is anywhere near interested in buying this, he is just interested in understanding the pricing on such a large vessel he came across.
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Old 07-26-2020, 04:09 PM   #6
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Plan on at least a thousand dollars a day to own and operate.

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Old 07-26-2020, 05:09 PM   #7
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Way overpriced. Interior design is ugly. And it doesn't have a helicopter.
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Old 07-26-2020, 05:19 PM   #8
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I thought it wasn't stabilized, but see that it has fins.
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Old 07-26-2020, 05:22 PM   #9
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Guys I don't think he is anywhere near interested in buying this, he is just interested in understanding the pricing on such a large vessel he came across.
Thanks, that's all that I was trying to ask. I can manage the purchase price, but figured the ongoing expenses wouldn't be so affordable for a boat that size. If I was seriously considering it I'd definitely do my due diligence, and homework. I figured asking on a forum full of boat lovers would be the simplest & quickest way to get a ballpark estimate.

After C-19 is behind us I'm planning to enroll in captain lessons for the Mrs. & myself. Then try a charter cruise and/or rent a few boats to see if we really like it. We live on a lake & like the water, but the pandemic has me feeling a bit stircrazy here. I figure it has to be better for you guys.
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Old 07-26-2020, 05:26 PM   #10
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Plan on at least a thousand dollars a day to own and operate.

pete

That's the "catch".

Would that include the crew?
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Old 07-26-2020, 07:00 PM   #11
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The catch is that it's likely overpriced at that. Getting it insured will be a challenge. You'll have to have professional crew. It's not a true Benetti but a custom build by Lloyd's of Australia. It's under-powered with twin Gardner 250's and only cruises at 9 knots. I've never seen a boat that size with so little power. It's about as Benetti as I am fluent in Italian.

As to annual operating costs, I'd put them just over $1 million. They are roughly something like this.

Provisions $60k
Crew Costs $500k
Insurance, Accounting, Legal, Licensing $50k
Dockage $125k
Fuel $200k (based on 12 weeks owner usage)
Maintenance $125k
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Old 07-26-2020, 07:00 PM   #12
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This forum is an excellent place to find out about things to do with boats we tend to own which are 30-60 feet for the most part. This question of cost of ownership comes up at least once a month, and the search function here should lead you to many happy (?) hours of reading opinions and experiences related thereto. It appears that you could afford to buy a very fine new or almost new boat, and your charters will serve you will in deciding which size and layout you are partial to. As to CV-19, well, it has some of us who live a long way away from our boats sort of stymied, but others who are closer are more than likely not feeling so claustrophobic. I just hit the down button on my lift's remote control, and by the time I walk to the pier, she's ready to board and scoot.
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Old 07-26-2020, 07:48 PM   #13
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Quote:
Originally Posted by Pete Meisinger View Post
Plan on at least a thousand dollars a day to own and operate.

pete
You can cut that well in half if it becomes a dock queen!

Pretty nice looking boat; at that price. 100' + the size you're only interested in?
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Old 07-26-2020, 08:14 PM   #14
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For it's size, it would be fairly economic with the Gardener mains. If you bought the boat with cash and bought liability only it would be less than most of you pay. I do liability only and in about a year, I'll be ahead. But the turquoise looks like someone had older Ford truck paint left over.
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Old 07-26-2020, 08:56 PM   #15
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Thanks, that's all that I was trying to ask. I can manage the purchase price, but figured the ongoing expenses wouldn't be so affordable for a boat that size. If I was seriously considering it I'd definitely do my due diligence, and homework. I figured asking on a forum full of boat lovers would be the simplest & quickest way to get a ballpark estimate.

After C-19 is behind us I'm planning to enroll in captain lessons for the Mrs. & myself. Then try a charter cruise and/or rent a few boats to see if we really like it. We live on a lake & like the water, but the pandemic has me feeling a bit stircrazy here. I figure it has to be better for you guys.
Frankly, I like looking at big boats!
Now is a great time to dream big. Reality will set in soon enough.

I once met a nice fellow who owned and was living on a retired German ocean liner.
That was big! Talk about dock fees...

On a practical note, I don't want a boat that I can't, in a pinch, single hand by myself.
It comes up more often than you'd think. For me that is about 60 feet and 40 tons.

I don't want to put a damper on your enthusiasm though. Do invite me to the parties!
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Old 07-26-2020, 09:39 PM   #16
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Captainís licensing is a good idea, but bear in mind that even the lowest level requires 360 ďsea daysĒ in addition to passing the tests, drug test, physical, etc.

You might want to consider classes in power boat operation, navigation, weather, and wait for the Captainís classes until you have your sea days. Best of luck!
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Old 07-27-2020, 02:12 AM   #17
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Rich, I always thought you could walk on water. Nice to see the evidence.
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Old 07-27-2020, 05:13 PM   #18
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Glenn, just call the broker from Denison and see if he'll answer some questions for you. His cell number is on the listing.
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Old 07-27-2020, 05:22 PM   #19
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And I thought I was going big looking at a 58í today as our 24th boat...
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Old 07-27-2020, 05:24 PM   #20
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A thousand dollars a day does not include much of a crew. Maybe a pretty qualified captain and a deckhand or two. Not really enough to run a 100 footer if you plan on using it much.

Who is going to cook your meals and make sure your white pants and blue blazer are cleaned and pressed? Got to have someone to tuck you in at night and put a mint on your pillow too.

Oh wait, my wife and I will do it.

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