Would you buy a boat that "rested on the bottom briefly?"

I follow Nordic Tug and American Tug listings from time to time. Just saw this listing and wondered why the price seemed low for a 2004 Nordic. Reading the details, it sounds like more than the outer hull got wet. Would the work done to date make it an acceptable bargain assuming it passes a rigorous survey? Would you buy a boat that got dunked and had this work done? Would there be more things to look out for? Thoughts?

https://www.yachtworld.com/yacht/2004-nordic-tug-32-8019938/

The boat's name says it all.

The 'new wiring where needed' would give me pause, after a dunking (in salt water) I would be suspect of all wiring and would tend to think you'll be finding new wiring issues for years to come as corrosion works it's way down through things that weren't replaced.

I would not want it.

"Additionally, there has been discovered an area of moisture in the port side of the hull above the waterline that measures roughly 2' X 1'. It appears that a repair was performed in the past in this area. "

If this hull is cored, what is it cored with and it is wet on the inside. just means future hull repairs are likely

sbman said:

The 'new wiring where needed' would give me pause, after a dunking (in salt water) I would be suspect of all wiring and would tend to think you'll be finding new wiring issues for years to come as corrosion works it's way down through things that weren't replaced.

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In the past an insurance adjuster spec'd that 18 inches of wire be cut off and replaced, so they did not think all wiring should be done.

The 2x1 wet spot of a previous repair is a concern and should be in a planned re repair if purchased.

A mechanical inspection should determine if the engine rebuild was successful.

The purchase price appears to be about $50K lower than others. With everything disclosed and a sound mechanical report hell yes I would buy it if that is the boat type I was looking at.

Rested on bottom and raised, i.e., sunk. Hard pass.

sbman said:

The 'new wiring where needed' would give me pause, after a dunking (in salt water) I would be suspect of all wiring and would tend to think you'll be finding new wiring issues for years to come as corrosion works it's way down through things that weren't replaced.

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Agree. Unless all the wiring and electrical fixtures are replaced, I'd guess you'd have continuing problems. Runaway is apt.

Ken E. said:

Agree. Unless all the wiring and electrical fixtures are replaced, I'd guess you'd have continuing problems. Runaway is apt.

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Lots of rust on the engine

Its hard for me to comment. It is not my type of boat and I see several things that make me nervous. If it was the boat of my dreams and I couldn't afford another $50,000 then I would be more inclined to take a chance. For sure there will be some money spent on this boat down the road because of the sinking. How much is hard to say. Is a $50,000 savings worth the risks? Again, hard to say. I see all kinds of small issues just from the photo's. I don't feel this boat has had the best life. However, I have not been shopping for a Nordic Tug for some time. The last Nordic I looked at was two years ago, It was a 42, in much better shape and it sold for $400,000. This I realize is of no help to you. It just all comes back to relativity. We are all voicing our opinion relative to our needs and not yours. If you can afford more you should probably pass on this one. If this is all you can afford then it is probably worth the risk. If this is at your absolute limit then walk, you can't afford to keep up with the maintenance this boat is going to require.

How does one find out if or what kind of insurance claims were paid out on a boat? Is there the equivalent of Carfax for boats?

Rigorous survey would be the key. If you're a Nordic fanboy then the boat price is approaching the firm buy range. I would want to answer the question of why there is a wet core in an area that has been repaired before.

I'd also ask around the dock/shop re. why the owner is selling. It might be a shop queen and the owner is sick of throwing money at it? 250 hrs on the engine in 9 years is very light usage. Owner is elderly? Lives far away?

I'm not a nordic fan but if so I would be in Hampton tomorrow.

I'd want to know the total hours on the engine.... Low hours on the generator.... Not much use maybe... Good survey and a hands on inspection.. Get a feel for the broker and owner.
Still it's been 9 years since it was dunked. I'd be willing to look at it if I was interested. Sure it will need some work sometime. Don't they all !!!! 16-17 years old, due for upgrades and heavy maintenance regardless.. Or 9 years since it was redone.
I just figure you buy a boat to work on it... What's this cruising people talk about ???

My 2 cents worth:

1. Take a look at the inside/underside of the transom.
2. Does it pass the sniff test?
3. Flashlight inspection of every hard to access nook and cranny.
4. Borescope look inside the valve covers of the main and gen.
5. Hard look inside the helm at the wiring and gauges.
6. Get rid of that red rug!

NT’s are quality vessels. Probably worth the time and effort necessary to bring her back.

Now, someone said it's $50 below fair market value? With that difference, it might depend if it were sunk in salt or fresh water.


If sunk in salt, it would be absolutely, NO, friken way... even if they gave it to me.


If sunk in fresh water is would be a plain hell no.

Here’s the way I’d look at it. If you can afford the risk that you will have to plow money into the boat for the unforeseen issues you will experience down the road, I’d consider it. You might make out but you might not. If the discount is the only way you can financially afford the boat, don’t do it as you will be stretching to cover the unforeseen issues.

If it were me, I’d pass. Salt water is very destructive and it’s the hard to see/reach places that will bite you.

No way for me. too many hidden issues that will never go away.

9 years should be long enough for the issues to present. External teak looks fine.
NT experts, what does the filler/outlet set in the swimstep serve? Like my boat, the swimstep appears part of the hull.

Thanks for all the feedback. Going through the pictures again, it looks like there would be more projects than I would be comfortable with, not to mention the risk of more work uncovered in the process and down the road. Paying the yard to do the work would probably bring the cost up to, or over, the price of a well cared for Nordic. Pass

Tin Man said:

Thanks for all the feedback. Going through the pictures again, it looks like there would be more projects than I would be comfortable with, not to mention the risk of more work uncovered in the process and down the road. Paying the yard to do the work would probably bring the cost up to, or over, the price of a well cared for Nordic. Pass

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Wise decision Grasshopper.

OldDan1943 said:

Wise decision Grasshopper.

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Thanks.

Curious - why the "not a Nordic fan" comments...

It is my understanding that capillary action and water and wires co-exist. No matter what the repair it is the creeping crud.

The insurance company totaled my Audi just from 1" of water in the driver's floor. May electronics are mounter in that area.

Nope just on that and who knows what else. You can burn 50k pretty dang fast.

TM
If you genuinely like the boat following a thorough first look including work done to fix it up, why not make an offer based upon the value you place on the vessel? If all looks OK make the offer, a really tight survey should confirm or dispel go forward concerns.

No way..
If a boat has been under, especially in salt water, it lost more than half the value, 75% maybe.

sunchaser said:

TM
If you genuinely like the boat following a thorough first look including work done to fix it up, why not make an offer based upon the value you place on the vessel? If all looks OK make the offer, a really tight survey should confirm or dispel go forward concerns.

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My thoughts too. I`d at least inspect, unless very remotely located. Appetite for risk varies, I respect it has ruled the boat out. Only with an assessment inspection could there be progress.

Offer $50k and put $100k into a complete renewal. Every piece of wire replaced with tinned copper. Engine and generator out major regardless of hours. Its a ton of work to save $50k.

"rested on the bottom briefly" is like "slightly" pregnant.

Good grief people, so it sat on the bottom.
If the pictures show what it looks like today then the boat was well cleaned and attention to wiring and instruments was completed. It has been afloat for 9 years since the event.
Hell the same vintage boat probably is not in as good of shape sporting all the years without a refit.

Soo-Valley said:

Good grief people, so it sat on the bottom.
If the pictures show what it looks like today then the boat was well cleaned and attention to wiring and instruments was completed. It has been afloat for 9 years since the event.
Hell the same vintage boat probably is not in as good of shape sporting all the years without a refit.

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Wrong..If the entire boat has been under, especially in salt
water, there is long term damage to everything, even if it has been
"cleaned".