1977 Grand Banks 42 - $389,000

This is a beautiful boat that looks like it's had a lot of work and upgrades done (I have no affiliation with this boat whatsoever, just saw the listing in my own searching):

https://www.yachtworld.com/boats/1977/grand-banks-42-classic-3837563/

What do you think of the price?

Beautiful. It’s a perfectionist’s boat. I don’t think wiping my feet before boarding would be enough. Like dumping a lot of money into a car you’ll never see again. I guess someone could come along, appreciate the work and pay the price. However, it’s just a boat, in my opinion. I would offer $189k...

Nick14 said:

What do you think of the price?

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The price must be a misprint, surely he meant 1 instead of a 3, because fully restored 42’s (new tanks, engines, gens, electronics, plumbing and electrical, with total repaints) have sold for under $189k.
I mean the broker hasn’t even bothered to put together a spec sheet.

"It only takes one right buyer" say a million brokers, forever

If they ever open a grand banks museum this could be the main exhibit. Beyond that, I really don't think that price could be justified considering the number of really well maintained/restored GB 42's that are out there for way, way less. Frankly, with that mirror finish Id be afraid of ever taking the thing out of the boathouse! Forget about anchoring!

It is a very nice looking boat.

Maybe its an example of -

Significant other: "Honey, I want you to sell the boat, you have spent way to much time and money on it"

Other: "Yes dear, I will put it up for sale" as he mutters under his breath, "at a price no one will buy it so I can enjoy it myself!"

Jim

A Grand Banks would be my dream boat. I always thought they had character and a salty look. Had a proper trawler look.
But not that one. While I admire the time, effort, and money that went into that boat I don't like the look. Seems almost sterile. No varnishing on the outside other than the transom, but it just doesn't look right.
IMHO.

I would expect the engines to look pristine for that price, but they do not.

LOL! @JLD, @Giggitoni, @Moonfish, @Mortensi, thanks!! That was my reaction as well. Beautiful boat, but an absolutely bonkers insane price. I thought I might have been missing something.

Whether it's someone who doesn't really want to sell the boat unless the proverbial "right buyer" comes along (which means a fool with more money than sense), or a greedy broker giving bad advice and hoping for a one-in-a-million buyer in this crazy seller's market, as nice as the boat is, it's hard for me to see paying almost as much as a new Helmsman costs for a boat that's over 40 years old.

YMMV.

Methinks the broker slipped a decimal point in the listing. While GB42's are certainly iconic, and there may well be someone willing to pay the asking price for this one, please put me in the "not me" column.

Regards,

Pete

The owner must not like teak ...

And they destroyed the flying bridge to put a skylight!!!

Xlantic said:

The owner must not like teak ...

And they destroyed the flying bridge to put a skylight!!!

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LOL!!!

I thought that was the most, um, interesting modification. I can understand deleting some brightwork to cut down on maintenance. But to ruin the utility of a flybridge for the sake of a sunroof?! Seems to forgo the possibility of keeping a dinghy up there, with that crazy rail surrounding the skylight!

The funniest and most outrageous thing is, in this insane sellers market, someone might actually pay up for it.

Stunning example. BUT that's a lot of greenbacks for a 40 year old boat.

Xlantic said:

And they destroyed the flying bridge to put a skylight!!!

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I was thinking that might be an engine-removal hatch. I've seen those built into other boat models (usually not so obviously).

I've never seen a windlass mounting like that before.

The paint work looks to be first class.

Not sure why the skylight could not have been flush and as strong as the deck.

What else could you buy for $389,000? There are some FAR nicer boats in that price range.(diesel duck in Charlevoix, Mi from JMYS)

At that price I would want a master stateroom that was off the charts roomy and appointed.

At that price I assumed a repower and new genny.

The boat is a spectacular example of a 1977 GB 42 and has had a ton of money and man hours spent on it, but this does not necessarily equate to a return on investment. $235,000 plus or minus $35,000 is my guess.

I would imagine the owner of this boat is as impressive as the boat itself.

This electronically nude vessel looks like a well executed long term project which somebody got tired of. The boat does not look like a cruised vessel at all.
No visible radar display, plotters, AIS, etc, etc. There is a legacy Benmar AP drive motor hanging from the overhead in the ER. I had one in my '72 GB42 too, and I modified it to work with a modern digital AP brain. There is a hole in the lower helm console where the old Benmar AP control switches went.

Where are the dinghy chocks on the aft cabin top? For that mater where is the boom and tackle to hoist a dink? There is no evidence of a transom rig to handle a dink back there either.

We have our hearts set on a GB. If I was a millionaire, Id buy it. Its exactly what I envision for a boat. But I'm not so ...
All the GBs we've researched online have had teak decking, but this one doesn't. I guess this model/option doesn't come up for sale a lot?
Regardless, it's a beautiful boat.

We Love Sharks59 said:

We have our hearts set on a GB. If I was a millionaire, Id buy it. Its exactly what I envision for a boat. But I'm not so ...
All the GBs we've researched online have had teak decking, but this one doesn't. I guess this model/option doesn't come up for sale a lot?
Regardless, it's a beautiful boat.

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You are likely not looking for a wood boat, but the '72 GB42 I sold six years ago has had the teak deck carefully glassed over by the new owner. Its exterior is a bit rough cosmetically because of his illness and now very recent death, but he had it for sale at $45 and was willing to drop a lot to get it off his wife's plate. I have heard of a lot of GB owners who thought the right thing to do was to cover the decks, and some of them must be coming up for sale someday. I never worried about the decks, and they were fine with minimal maintenance.

We Love Sharks59 said:

We have our hearts set on a GB. If I was a millionaire, Id buy it. Its exactly what I envision for a boat. But I'm not so ...
All the GBs we've researched online have had teak decking, but this one doesn't. I guess this model/option doesn't come up for sale a lot?
Regardless, it's a beautiful boat.

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When teak decks are reaching end of life, the usual options are replacing the teak with new which is costly, or removing, fibreglassing, and paintin the decks. Most choose the latter. Or a combination of painted fibeglass forward/unprotected, fresh teak aft and sides, which is what I did and how many newer boats are done.

Gb 42

Nick14 said:

This is a beautiful boat that looks like it's had a lot of work and upgrades done (I have no affiliation with this boat whatsoever, just saw the listing in my own searching):

https://www.yachtworld.com/boats/1977/grand-banks-42-classic-3837563/

What do you think of the price?

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Seems exorbitant. Barring that one guy who is independently wealthy and wants THIS boat and is willing to pay anything to get it, every boat has a limit on what it is worth. Being fully restored and in Bristol shape just means it should command top dollar for that type/year model of boat. In this case $200 k should be the very upper limit IMO.

Any boat I have ever looked at I always start in the engine room then to the lazarette then to the interior. Any of our boats we have bought I always begin with cleaning, painting and dialing in the machinery spaces. Everything after that is icing on the cake. That is not a detailed engine room in my opinion. I can't tell you how many boats we have looked at that have a beautiful interior and then an engine room that is totally neglected. I also never would trust a broker who lists a boat on Yachtworld and has no engine room pictures.

1977 Grand Banks

Grand Banks has a good reputation, BUT, they are a wet boat due to no flair on the bow.

It is a 1977 boat, even being fiberglass, you could expect some issues.

It is a shame they removed the wood decks and didn't at least put down the imitation wood as a replacement. Now it is just another Clorox bottle.

Seeing this boat makes me think, you can pretty much take any woman and after 2hrs in a beauty salon, not to be confused with a boat saloon, and she'll often look like a changed woman. All that and you can't change what's inside.

To me, not interested in $389k or $189k.

This does remind me of a 70's Marine Trader I saw @10-12yrs ago in MD. Showroom condition. Went and looked it over just for kicks. If I remember, I think it was being/was sold for $250k.

It won't surprise me, especially in the Covid world, that it sells.

Being an owner of probably the most beautiful (in my opinion) older (79) Grand Banks Europa, I think I would never give that kind of money for an older boat, even mine. (Wish I could figure out how to post a picture with my message, anc all could see my beautiful Sea Robin!) but I think the photo is too big to upload. Sorry.

First, by going with the all white look, they've taken away the boat's character. To me, this looks like a boat that's meant to sit at the dock and hence, that's why there are no electronics (I don't even see a VHF or an antenna), there's no compass at the lower station and the skylight looks like it's screwed-in plastic. Also, there's no mention of the boat's systems. Why is that?



On the other hand, if it's meant to be a floating condo, there are plenty of other, newer and larger boats that meet that usage at a much lower cost. To each their own.

Solly said:

A Grand Banks would be my dream boat. I always thought they had character and a salty look. Had a proper trawler look.
But not that one. While I admire the time, effort, and money that went into that boat I don't like the look. Seems almost sterile. No varnishing on the outside other than the transom, but it just doesn't look right.
IMHO.

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Totally agree, the 'soul' of this GB has disappeared. Very white, very sterile. Not my kind of trawler. Excellent work, but not for me........

GB3295 said:

Totally agree, the 'soul' of this GB has disappeared. Very white, very sterile. Not my kind of trawler. Excellent work, but not for me........

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It has all the warmth of a GE reefer.

It will be interesting to see what this boat ultimately sells for (if the actual price is ever publicly known). In this absolutely insane seller's market, many boats have sold for what not long ago would have seemed impossibly unattainable prices. There may well be someone out there with more cash than common sense with money burning a hole in their pocket and a 'gotta have it now' attitude.

slowbutsteady said:

If they ever open a grand banks museum this could be the main exhibit. Beyond that, I really don't think that price could be justified considering the number of really well maintained/restored GB 42's that are out there for way, way less. Frankly, with that mirror finish Id be afraid of ever taking the thing out of the boathouse! Forget about anchoring!

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Why would that be the main exhibit? They've done away with most of the signature GB details (maybe understandable, given the age), but while shiny, that's a sterile looking GB 42 to my eyes.