Monk 36 purchase

[Dalesman]

I am considering making an offer for a 1985 Monk 36 named "In Vino Veritas". The asking price is $119,000 which seems high for a boat of this age, but it is well equipped. Is anyone familiar with this particular boat and are there any specific weaknesses on this model I should be aware of ?

 

[willpep]

Dalesman - You should ask your question on the Monk 36 owners website:

https://groups.yahoo.com/neo/groups/Monk36OwnersAssociation/info

 

[Hawgwash]

The Monk 36 is a very popular boat that retains good value and there are some proud Monk 36 owners on here. Over 250 were launched.

That particular boat was built in Taiwan, not Nova Scotia and having looked at several listings on it, I can't justify the asking price, other than it being well maintained and owned by the "President of the Monk Owners Association." Sentimental value has no value.

Sure it's clean and fairly well equipped but it still has wood frame windows and 30 year old tanks. Not sure but I think that one may have a modified rudder and lead ballast.

The repower in 2000 is interesting and I would ask why?
Also are the 2300 hours original or since repower?
I am curious if that repower was brought on by this:
http://www.trawlerforum.com/forums/s6/turbo-failure-exhaust-water-backup-solutions-26905.html

Here is another thread to read.
http://www.trawlerforum.com/forums/s3/monk-36-a-24810.html

Now, this is just my opinion but a very strong one. I like these boats partly because I am a huge Ed Monk fan. Partly because I think the Canadian builds, 1992 through 2008, are very good quality. Partly because I think that Cummins is a good fit to that boat. I have researched them to death and been on two but not at sea.

Although I find them crowded and somewhat dark, I would, under the right circumstances, take another look at one but, probably only mid 90s and newer.

Personally, not having seen that boat, I would still say it is at least, at least, 25k over priced.

But, and it is a substantial but, I don't know your local market.

 

[willpep]

I am partial to them since there are 3 at my yacht club and I have drank beer on all of them. All were purchased sub 100k. That doesn't mean much. You need to do a market analysis. A broker could help here.

All have had some major work done in the past 2-3 years. This includes a water intrusion into the core below the waterline requiring stripping/drying/fiberglassing; the shaft runs through a SS Sleeve which can corrode and leak; leak in the fuel tank which required engine removal for replacement.

A good survey would find these problems. Again the folks at my YC are very happy and consider them a good boat for the $$ including the issues. It is a boat after all.

Good luck

 

[Hawgwash]

Dalesman - You should ask your question on the Monk 36 owners website:

https://groups.yahoo.com/neo/groups/Monk36OwnersAssociation/info

I don't know about Dalesman but I object to having to pay money to a "club" just to ask questions of a fellow boater. I got all the answers I needed through online research, reaching out to owners and tracking down the Canadian builder.

Besides, how many of them are going to give you the bad news?

Boat diesel is a different story. Pros over there.

 

[Dalesman]

Thanks for the input. I agree this boat seems to be overpriced. Not sure why the boat was re-powered and I'm not sure if the present owner will know, but it's worth asking.

 

[Dalesman]

I did try and access the Monk Owners website, but you have to be a member to see their posts and I'm not an owner - at least not yet. Your response and that from Hawgwash are exactly what I was looking for. I appreciate the input and especially the links.

 

[Steve]

We have a Monk 36 a 2003 model we bought in 2008, we are very happy with it. We bought her in Annapolis and brought her to Louisiana on the ICW. Have made several trips to Florida including the Keys. We haven't cruised much the last couple of years (aged parents issues). Gumbo is not for sale but if you have any questions about the Monk 36 feel free to ask me. Pricewise, I haven't checked prices lately, there were several listed for sale on Yachtworld maybe you can get a comparison there. I am not familiar with the Monk "In Vino Veritas".

 

[Hawgwash]

I did try and access the Monk Owners website, but you have to be a member to see their posts and I'm not an owner - at least not yet. Your response and that from Hawgwash are exactly what I was looking for. I appreciate the input and especially the links.

You can join the Monk group without being an owner. They will be happy to take your money. You just have to become an owner within a certain timeframe to retain the membership.

There are people on here, past and present owners, that can answer your questions just as well.

There should be a history on the repower, either by logs and records or via the people who did it. I'd want to know.

 

[Dalesman]

You actually have to register with the Monk group and then you get 30 days free. If I actually buy a Monk, I will join then. I asked the broker why the engine had been replaced and he didn't know. I have made it clear I'm not interested in the boat unless the price drops to the $80,000 - $85,000 range. If the seller responds, we will go from there, but I believe he just turned down a higher offer, so I doubt if I will hear from them again.

 

[Dalesman]

Glad to know you are pleased with your Monk 36. I started by looking on YachtWorld and BoatUS priced this boat between $78,000 and $82,000 which seems about right to me. I was hoping someone might be familiar with this particular boat and might give me a reason to pay over the odds. The broker makes a big thing about the "new" (sic) engine but after 16 years and 2200 hours, this didn't justify the additional cost, at least not to me. I will keep looking. Thanks for the input.

 

[jwnall]

When I was looking for a boat (before I bought the one that I have now) I was very surprised to learn the value that some owners placed on their boats. Far, far above the market price. And would not come off of it, either. I finally came to realize that if someone puts a lot of blood, money and sweat into getting it to where they want it to be, then they figure that they should somehow be compensated for that when they sell it. Well, in a perfect world they might be, I suppose, but unfortunately the market doesn't work like that.

 

[dhmeissner]

You've probably seen these:
http://www.soundingsonline.com/boat-shop/used-boat-review/293377-monk-36

BoatUS - Boat Reviews - Monk 36

 

[Mainship400]

I have no idea about the value of this boat, but having sold one recently, I can tell you that some surveyors use the BUC valuation tool to estimate value along with recent sales prices. The BUC tool is subscription based but you can get a free look and the actual cost is not great if you just buy it for a month.

 

[CPseudonym]

You can also usually get comps from the subscription only soldboats.com by sending a request to any of the various brokers, surveyors or insurance professionals that are members of this forum. Every single one of them are boaters helping boaters first and legitimately not interested in mining this forum solely for financial gain, contrary to the conspiracy theories.

And since they are not allowed to ask you because of the forum rules I will for them. It would be nice if you would consider using their professional services whenever practical as a way of thanking them for all the help they freely give fellow TF members.