1981 Ocean Alexander 440

First question is, does this boat even exist?! I mean, I know there's a boat that I've seen that's listed as a 1981 Ocean Alexander 440, but when I try to look things up, I find nothing. NADA has no 44' O.A produced in 1981, every O.A I've seen has twins, this is a single Ford diesel and I don't understand. I mean it looks like an O.A, but......

Anyone have any ideas?

The early '80's was an era when OA had a strange production line. I've seen other 1984 38' OA aft cabin models, same year as mine, that look nothing like it. It seemed that they would badge many different boats from different yards as OA. There were many with single engine set up then.

Thank you for the information. It makes you a little nervous when you're trying to buy a boat that NADA says doesn't exist. How can you determine a value on a vessel if you have nothing to compare it to?

Compare it with prices for similar Taiwanese Tubs of the early 1980's. Marine Traders, CHBs, Chien Hwas, Fu Hwas and countless others. Most probably fall in the $50-70K price range. Also, your surveyor will give you an estimate of worth. If the issue is getting financing, you most likely have a problem and if you find it, you might have to put 50% cash down.

On Google, they show up as a Motor Yacht with twins.
Here is a 1981 listed as a 440, but it looks like their 43
http://de.boats.com/motor-boote/1981-ocean-alexander-440-5799220/#.V2KxW-T5PmQ

There are two on Yachtworld listed as 44', the one you mentioned and an aft cabin/sundeck configuration. Same basic hull though. The other one is configured as a twin. Two more listed under 43'....which is indeed the correct model nomenclature. So, two cabin configurations, same hull...all from the OA factory and not from other yards. Very likely that the hull was also used for other models with different deckhouse layouts.

It's not the financing I'm searching out, it's making sure I do my research so that I can make a reasonable offer.

From what I understand, an O.A is a pretty stable and seaworthy vessel. Am I right or are there some hidden issues I should be looking for?

SaltyDawg86; said:

First question is, does this boat even exist?

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http://www.yachtworld.com/boats/1981/Ocean-Alexander-440-2963113/Chesapeake/VA/United-States#.V2KzhdH2YoA

If that is the one you are looking at, contact OA in Seattle; info@oceanalexander.com and it might help if you get the HID from the broker beforehand. If it is an OA they will know and it's conceivable it might have been some sort of special order.

A little history if you are interested...
With the explosion of Taiwan built "trawlers" in the 70s, Alex Cheu, a retired colonel, put up seed money for a friend to establish a boat yard. In 1973, the friend was unable to repay the loan so Alex became the new owner of the yard.

In 1977, Alex met Ed Monk Jr. through a mutual friend and on a handshake, Ocean Alexander was born. The first boat, the Ocean Alexander 50 Mark I, rolled out in 1978

We all know the rest.

Is this the boat you are looking at?

1981 Ocean Alexander 440 Power Boat For Sale - www.yachtworld.com

She looks rather rough. IMHO, $50K is high for this one but as the broker says "Don't be afraid to make her great again". Haha...

That's a great idea. Thank you for that! I'm getting ready to look at the boat again, I'm going to confirm the HIN and then email them.

Donsan said:

Is this the boat you are looking at?

1981 Ocean Alexander 440 Power Boat For Sale - www.yachtworld.com

She looks rather rough. IMHO, $50K is high for this one but as the broker says "Don't be afraid to make her great again". Haha...

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I've looked at the vessel once. It's really not in awful shape. Yes, there is some wood rot and some things that need fixing, but I can do that. The asking price is the result of sentimental value to the owner and him not realizing the boat is not being kept up like it thinks it is. The owner was transferred out of state and he thought he would be gone for a year or 2, 5 years later it doesn't look like he's coming back. I went through the vessel with the broker and pointed out some things and he told me he was going to give the owner a heart to heart about the actual condition of the vessel. He said the owner is open to serious offers and the owner really wants the boat to be "brought back to life." I know it's going to take some work, but I work on ships for a living, I know what they need, but it's different when you're the owner I just want to make sure I know what I'm jumping into and see what the value could be when everything is on the up and up.

SaltyDawg86,

Take what you think needs to be done and add to it what a surveyor finds and then multiply that amount by four and your initial cost estimates by 5. Multiply the time you think it will take to make right by 10 times your current estimate. This may sound like a gross exaggeration, but probably closer to the truth than you now think.

Gordon

I think semi-planning is on the mark, especially about designation; I don't think 440 was a term back then. All was simple, neat, round numbers until cookie cutters started playing with length fudging.

When I looked at that listing, I thought, a skilled ermm guy like you could throw an offer of 25-30k at it with a looooooong list of "subjects" and have a cool winter works project.

You could do a lot worse than OA.

20 years and about $500,000! I may as well buy a new boat!! What marina do you keep your boat at? If I do get this boat, would you mind if I messaged you if I have any questions?

Hawgwash, you must have looked at that boat in person! That's exactly what I think the boat is worth as it sits.

The cored decks could be the deal killer IMHO. Most of the OA's in that era (mine included) have had rotten deck core issues. The plus is that there is no teak deck.
It may be do-able at 25K and fixing it up to USE, not be a showboat.

SaltyDawg86; said:

Hawgwash, you must have looked at that boat in person! That's exactly what I think the boat is worth as it sits.

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Nope.
I've only ever been close to one Virginia and that one isn't it.
Pure speculation which is the most valuable asset to have on a boat forum.

Nope.
I've only ever been close to one Virginia and that one isn't it.
Pure speculation which is the most valuable asset to have on a boat forum.

If that is the most, then #2 is probably scepticism

Ted.

Nice boat but I agree it's in rough shape and needs a lot of work. But if you're up for it and you get it at the right price (probably half the asking price, maybe a bit less) then you'll have a good vessel on your hands. I especially like the huge flybridge. Very nice layout and lots of room to entertain.

The split V-berth and the huge flybridge is the exact reason I'm looking at it so hard. After all, I need to have some type of project to do when I get off the ship! Add that to a fuel sipping diesel and I have a good party boat. I have friends and family who have boats, but they don't have cabins or much of a way to get out of the elements. During something like Harborfest, they could raft up with me and we would have plenty of room to watch the fireworks and what not.

SaltyDawg86; said:

Add that to a fuel sipping diesel...

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After sitting for 5 years, it just might burn 0 gallons per hour.

Haha yes, that's the absolute truth! I have some faith though.

$25k is all I'd go. There's a lot of work there. Love the FB layout though.

Anyone have any insurance recommendations?

You mentioned earlier the owner wants to see the boat brought back to life.
Played correctly he could be a great ally and resource through the process.
So, I would ask who he is insured with. They already know the boat and if they are a legit marine insurer it could save you some hassles on that boat.

Salty Dawg,

If you are only paying $25K, why insure it? You could at least save that much money.

Gordon

Gordon J; said:

If you are only paying $25K, why insure it? You could at least save that much money.

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There is more to insurance than loss of the boat. Yards and marinas will insist on it so, unless he intends to keep it on his own property...

Hawgwash,

Yes, but I am guessing liability may be enough. But I am sure he knows what he wants. I was just pointing out an obvious way to save a couple of bucks.

Gordon

SaltyDawg86 said:

Anyone have any insurance recommendations?

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Wiithout a survey and sea trial, that will be a tough one. Once you have the survey, the insurance company will want you to address all the critical issues. The yard will probably not let you keep the boat there until you have insurance and you won't be able to get insurance until the boat is fixed so it is kind of a Catch 22 deal. The surveyor might be able to give you some recommendations on insurance companies and the broker might also.

Salty, when did you look at that boat? I went out I think was back in early May to look at that boat. If you went after me you might have seen the stains from my tears of disappointment. If you went before I did then the broker is completely fulla $h17 because he told me he hadn't actually seen the boat. After talking to me after he also gave me the "gonna have a heart to heart with the owner talk". We had a chuckle when I offered 10 cents per pound. . .the conversation promptly ended when I told him I was serious

Try and get out there WITHOUT the broker. . .look under hatches, open drawers, behind cabinet doors. . .the boats pretty rotten imo :lol:

See if you can go alone and bring a plastic hammer and awl to poke around.

It could be a cool project boat, but I wouldn't go any higher than mid teens and let him know you are basically buying a hull, rebuildable engine, and a pattern for the cabin

I've looked at a lot of boats over the last year, it hasn't left me bitter and cynical. . .I swear

Donsan said:

Wiithout a survey and sea trial, that will be a tough one. Once you have the survey, the insurance company will want you to address all the critical issues. The yard will probably not let you keep the boat there until you have insurance and you won't be able to get insurance until the boat is fixed so it is kind of a Catch 22 deal. The surveyor might be able to give you some recommendations on insurance companies and the broker might also.

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Exactly. Even liability alone will not be easy. At least if the owner has it insured there might be an opening there, if only storage insurance.