Off the Market-65' Malahide Trawler SOVEREIGN of MALAHIDE $715,000

[wallaceyachts]

Hand crafted by those who understand and respect the sea. In contrast to many current offerings in the global marketplace, SOVEREIGN's hull form was first, all else followed.

Understanding the importance of this, and appreciating the beauty and strength of her hull, SOVEREIGN's previous owner found the vessel, bought a boatyard in the PNW, had her completely redone, then sold the boatyard. New mahogany framed house, not an inch of original wiring, or plumbing, cabinetry of milled solid teak, and as you will find the list goes on. She is my home, and I have loved cruising her.


For now, at a glance:

8-9 knot cruise delivers a range of 2800-3000 miles at 5.3 gph!

Cost of ownership:
Her slip is the highest cost, and varies from 700-1300 per month, depending on where I have moored.
Insurance between 6and 7k per year.
a couple G's for varnish, ER fluids and misc maintenance items
bi-annual hauls run 3-4 k (I do my own boatyard work), add 2k if you pay others
Varnish/Paint takes me a total of a week or two a year at these latitudes. I don't do everything at once. For instance, I varnish her rails (a half day), then another area for a half day here and there), more like maintaining a lawn at home. If you pay others, plan on 7-10 days of exterior maintenance a year for another 2k.

LOA 65'
Beam 19'6"
draft: not sure to the inch, but around 5.5-6'
weight in the slings 130,000 lbs
USA registered, with Jones Act exemption
Caterpillar 334 turbo assist
I run her at 1350 rpm
Sidepower bowthruster with dedicated charger and battery
NorthernLights genset, new in 2018(when underway only needed to wash and dry clothes)
4k trace inverter with 10 8d agm's, stored outside the engine room
Garmin plotters, autopilot, smartpump
Furuno radar, gps, depth/fishfinder
incredible galley(full size high end appliances
separate Bosch washer/dryer
Hurricane heat
Centurion fuel polishing
Village Tech watermaker
3 full beam staterooms, 3 head vessel

 

[Mako]

Gorgeous boat Walter. Was wondering how you priced it as such. do you have comps or other recent sales?

 

[ksanders]

That is a Gorgeous boat!

Two or three years ago it was on the market for a very long time at a asking price of somewhere in the mid $400’s

Slim chance that the current owners improved on the boat as it was in 100% condition then.

Lots of use here dreamed of and discussed the boat at length. Many of us probably actively considered trading “up” from our current boats, I know I did.

 

[wallaceyachts]

Gorgeous boat Walter. Was wondering how you priced it as such. do you have comps or other recent sales?

Hi Mako,

Thanks for your kind compliment and good question.

I do know that how I feel about the boat, and the 1.5 mil my friend put into her refit have nothing to do with what she is worth on the marketplace.

I did do comps when I came up with my asking price. Ursa Major, for sale in the PNW started on the market in the high 700's or 800k. She is a cool boat, but in my view, not really directly comparable--but I did take her asking price in the mid 600's into consideration. Turn key Malahide asking prices generally hover from 600- to 1,000,000 for one in the med.

I have known a few malhides that friends have had, that are ready to be redone, or have been half way through DIY redo's, and they run 250k-ish.
There are two types of true Malahides. The ones with aluminum houses, and the Med styled ones, like mine. The aluminum house boats, so far, have not been taken to Sovereign's level.
Sovereign is the only one that has been completely redone, meaning, that she was absolutely stripped to a bare hull, in terms of systems and house. Wiring all new and current, plumbing, and systems. Her systems were installed by a few of the guys who build Northern Marine Trawlers. Her new mahogany house is glassed and the whole yacht is painted with 2 part Sterling paint. I maintain her paint with a tiny airbrush, like the ones they use to create art work with.
Her decks were stripped to her beams, with forward decks rebedded and new teak installed. Her prop alone was 14k. Beyond comfortable living, I have had her out in towering waves off shore. I have absolutely every confidence in her reliability and seaworthiness.

After my friend redid her, he had a boathouse built for her, and he kept her there. He used her a bit at first, then she was in her boathouse for around ten years, with very little use, and while she was sound, I spent the first year updating a few things, and "making her mine" as we do. I didn't like her pc based nav gear, and installed the Garmin equipment. Her autopilot was a Benmar setup, which turned the steering wheel via a sprocket under her dashboard, so I installed the Garmin hydraulic system. I didn't like the electric range, as I hate running gensets all the time. So I installed the Jennair gas range, and while the galley was torn up, installed her new fridge. The list goes on, but you get the idea. I always look closely at engine room pictures when I am comparing boats myself. They are great indicators of condition. Wires strewn about, systems installed over other systems, etc. are indicators to me of whether to buy the plane ticket or not.

There have been enough Malahides over the last decade to get a realistic feel for pricing.

So, that's how she compares with Malahides. I figured if someone knows and loves Malahides, they would agree with these comps. Now, to compare with other vessels.

As compared to other more current offerings:

Sovereign out performs many vessels in her size class, in my view. A 3000 mile range without having to slow to 6 knots is hard to find, if one wants to match her 8-9 knot cruise while consuming 5.3 gph.

She is stout ( 1600 containers are lost every year off of freighters, and many float just under or right at the surface. I like a boat that wins that encounter.

In comparison, I think Fleming does a great job of that, as they are reinforced for grounding, have low centers of gravity, and in my opinion are very nice boats. Used prices run 2.5-4 mil.

Outer Reefs are stout, asthetically pleasing, and offer much of what Sovereign offers. I really like them. There's plenty of marketing material out there to compare features. Sovereign offers very competitive performance numbers as described above, and is offered at less than half the price of a used 65' Outer Reef.

Northern Marines are the first ones we come to that have a true full displacement hull in this group. I just got through assisting someone in a global search for one. He did end up buying one, and that search ended up with candidates that averaged 2.5 mil for ones that needed work, to 3 mil and up for turn key candidates.

I did not compare to metal boats.

I really don't think Nordhavn buyers are going to narrow a search down to a Nordhavn, or Sovereign. Different buyers with very different tastes and criteria. If one wants to compare to them price-wise, though, I would suggest at least getting to a model with an engine room that you can stand up in, then checking prices.

When I go up and down the coast, I run 24/7, so a pilothouse is a requirement, so people can cook and relax without disturbing helmspeople. So these boats are my candidates. I love Defevers, etc. but prefer the sea handling characteristics and efficiency of true full displacement hulls.

Other wood candidates? I suggest that we can not compare wood to wood, as construction is completely different. Malahides are heavy sawn frame vessels from a commercial origin, as compared to yachts like Trumpys, and others. There is a huge difference in ownership experiences, maintenance, and sea keeping between smaller ribbed, thinner planked, hard chined yachts. I love them, but I could write a book on the differences, and why I prefer the sawn frame, carvel heavy planked vessels. Beyond looks, I have loved her canoe stern in following seas. Zero tendency in heavy following seas to swap ends.

So, in closing, I am open to real offers, and happy to consider vessel or real estate trades if someone is moving up.

Please understand that I have listed my criteria and tastes, and realize that others have differing views.

 

[wallaceyachts]

That is a Gorgeous boat!

Two or three years ago it was on the market for a very long time at a asking price of somewhere in the mid $400’s

Slim chance that the current owners improved on the boat as it was in 100% condition then.

Lots of use here dreamed of and discussed the boat at length. Many of us probably actively considered trading “up” from our current boats, I know I did.

I owned a brokerage back then, in Port Townsend, had her listed, and must differ on asking price and equipment at the time. Her owner and I became friends over the years, and I bought her.

 

[woolf]

We briefly looked at her 2015, when she was in Genoa Bay BC and listed at $750k.

I remember the varnished teak decks, which I thought were a bit strange.

 

[ksanders]

I owned a brokerage back then, in Port Townsend, had her listed, and must differ on asking price and equipment at the time. Her owner and I became friends over the years, and I bought her.

Then it seems that I am mistaken about the asking price back then.

My apologies.

 

[wallaceyachts]

We briefly looked at her 2015, when she was in Genoa Bay BC and listed at $750k.

I remember the varnished teak decks, which I thought were a bit strange.

Yah......fell on my ass...first thing I changed......up north, a bit of snow/slush and you were DOWN!

sanded down, and varnished the covering boards. Then there is a killer teak treatment I found in Florida a couple years ago, called Ditek Triton. It is killer. Very watery in consistency, soaks in to teak, lets teak grey naturally, and repels water (beads up), salt, oil, birdshit, etc. You put it on with a foam brush and you don't have to blue tape off the area. you can Amazon it.

 

[wallaceyachts]

Then it seems that I am mistaken about the asking price back then.

My apologies.

No prob.....that was probably prior to my sweet new superyacht addition of the heliport!

 

[Simi 60]

Great looking vessel and surprisingly cheap cost to maintain

 

[Ken E.]

Were some of the Malahide hulls made in steel, or were they all wood? Ursa Major is another one that we see up north most years.

 

[wallaceyachts]

Were some of the Malahide hulls made in steel, or were they all wood? Ursa Major is another one that we see up north most years.

All wood hulls. The basic hull form is common to north sea boats. There are also copies made of fir etc. The Malahides completed at Southern Marine are all either teak hulls, or Iroko, which is very much like teak in grain structure and oil content there are a few of each in the PNW. .

 

[Airstream345]

We’ve been tied up across from Sovereign
many times when she was moored in Eagle Harbor.

Certainly a drool-worthy vessel. I can attest to the constant care given. I’ve seen you out there touching up her paint or cleaning something or polishing something else almost every time we visited.

She’ll make the right buyer very happy.

 

[boathealer]

No prob.....that was probably prior to my sweet new superyacht addition of the heliport! View attachment 111295

That's AWESOME.

 

[wallaceyachts]

We’ve been tied up across from Sovereign
many times when she was moored in Eagle Harbor.

Certainly a drool-worthy vessel. I can attest to the constant care given. I’ve seen you out there touching up her paint or cleaning something or polishing something else almost every time we visited.

She’ll make the right buyer very happy.

Yah.....I love my boat chores, and the other part is lock down boredom ....been a long year alone on my boat!! ..hope all is well. I miss Bainbridge, but had to come south to take care of WN RAGLAND.....It has been nice running into you guys from time to time, if only virtually! Merry Christmas to you guys!

 

[Wayfarer]

No prob.....that was probably prior to my sweet new superyacht addition of the heliport! View attachment 111295

Hahaha, that's amazing. Beautiful boat, sir. Best of luck with the sale.

 

[Conrad]

Were some of the Malahide hulls made in steel, or were they all wood? Ursa Major is another one that we see up north most years.

There were a number of Romsdal trawlers made in steel, and I've found some to look quite similar to a Malahide.

 

[wallaceyachts]

There were a number of Romsdal trawlers made in steel, and I've found some to look quite similar to a Malahide.

Yes, Conrad, very similar. Malahide hulls were crafted in Norway, and Portugal, then towed to Malahide Ireland's Southern Marine yard for completion. The Norwegian hulls were crafted of teak, and ultimately fitted with aluminum houses, in the Romsdahl style, with high wheelhouses, mounted aft. Ursa Major, a Malahide for sale in the Seattle area, is one of those.

Sovereign of Malahide is a Portugese hull, crafted of Iroko (similar to teak in cell structure, insect resistance, and oil content), and these hulls were fitted with the classic Med, or Europa style with lower centers of gravity, with lower wheelhouses, covered side decks, etc.

Many boats have been referred to as Romsdahls, and I have seen them built of wood, steel, aluminum, fiberglass, and even ferro cement. Scroll up to Fortitude, a past marina neighbor of mine, and you will even find a limited production run Kady Krogen, that was designed along these lines.

Those Romsdahl designs generally carry tenders and other items, on their forward decks, and are equipped with a mast and boom, used for on and off loading, as well as some having steadying sails.

 

[75Driver]

It’s a good looking boat but I think it’s grossly over priced. We’ve been looking off and on for 2 years and been serious for the last 6 months and I’d never pay that for the boat. Beauty is in the eye of the beholder and value is to each his own but we’ve looked upwards of 1.5M and just can’t see parting with that much for this boat regardless of how well it’s been maintained. There are quite a few boats we’ve seen that have been on/off the market for ages, quite a few for over a year and some for almost 2 years. My guess is this boat will be the same. Not sure what it is but owners seem to be somewhat unrealistic despite boats being adequately exposed to the market for what should be in excess of typical marketing times. There are a lot of buyers in the market and if you haven’t sold your boat in a reasonable time that should be a pretty big indication. A good example of a properly priced boat is the 2000 Nordhaven that sold quickly for 700K. The opposite is visible all over the market and this boat would fall into that category in my opinion.

 

[Simi 60]

^^^^^Tell us how you really feel

 

[mvweebles]

It’s a good looking boat but I think it’s grossly over priced. We’ve been looking off and on for 2 years and been serious for the last 6 months and I’d never pay that for the boat. Beauty is in the eye of the beholder and value is to each his own but we’ve looked upwards of 1.5M and just can’t see parting with that much for this boat regardless of how well it’s been maintained. There are quite a few boats we’ve seen that have been on/off the market for ages, quite a few for over a year and some for almost 2 years. My guess is this boat will be the same. Not sure what it is but owners seem to be somewhat unrealistic despite boats being adequately exposed to the market for what should be in excess of typical marketing times. There are a lot of buyers in the market and if you haven’t sold your boat in a reasonable time that should be a pretty big indication. A good example of a properly priced boat is the 2000 Nordhaven that sold quickly for 700K. The opposite is visible all over the market and this boat would fall into that category in my opinion.

Been here a week and already a curmudgeon. Must be the holiday season.

A nicer approach might be to ask the OPs price rationale. Who knows, maybe there's a lesson in it somewhere.

Merry Christmas

Peter

 

[wallaceyachts]

It’s a good looking boat but I think it’s grossly over priced. We’ve been looking off and on for 2 years and been serious for the last 6 months and I’d never pay that for the boat. Beauty is in the eye of the beholder and value is to each his own but we’ve looked upwards of 1.5M and just can’t see parting with that much for this boat regardless of how well it’s been maintained. There are quite a few boats we’ve seen that have been on/off the market for ages, quite a few for over a year and some for almost 2 years. My guess is this boat will be the same. Not sure what it is but owners seem to be somewhat unrealistic despite boats being adequately exposed to the market for what should be in excess of typical marketing times. There are a lot of buyers in the market and if you haven’t sold your boat in a reasonable time that should be a pretty big indication. A good example of a properly priced boat is the 2000 Nordhaven that sold quickly for 700K. The opposite is visible all over the market and this boat would fall into that category in my opinion.

Well, I replied to Mako, earlier in this thread, regarding my pricing rationale, incuded direct comps, even included cross brands, and mentioned that I did not anticipate Nordhavn prospective buyers not being interested in my Malahide.
I didnt mention that I had also considered the last survey valuation which I published on my website being $650k. Additionally, I parked her under Daniel’s Broiler in Seattle, which was the main entrance to the Seattle boatshow, and consulted with groups of brokerages, then balanced all together. I realize that beyond her purchase price prior to refit/construction, that the 1.5 mil plus invested, would have no bearing on market value. The market sets the price, and the ultimate buyer sets the value.
It appears that Dan from Alabama disagrees with my assessment on Sovereign of Malahide’s price.

I would add more, but on the road right now returning to my trawler home.

Funny how emails can have highs and lows. Ironically, the email I just read prior to Dan From Alabama’s comments was a complimentary note fro the editor of Yachting Magazine, who had published an article about my last wooden boat.

I wish you luck in your search, Dan from Alabama.

I am open to offers based on sound reasoning, backed by 10 % earnest money, deposited in an escrow account.

Potshots from an armchair in Alabama? Not so much.

 

[wallaceyachts]

I feel the need to communicate my appreciation for a boat like Sovereign. I welcome, and appreciate inquiries regarding pricing, performance, quality, etc. I have tried to respond thoroughly and respectfully.

Please understand that I LOVE the Taiwanese trawlers from the 70's and 80's. I have owned a few of them, and will own them again. Many other factory spec and semi custom boats are superb. I love Tony Fleming's boats, Outer Reefs, Grand Banks, and others.


My offering here is not to compete with fiberglass boats or their pricing. My intent here is not to change minds of others. I salute and congratulate those that have dreamed for years of acquiring their first Nordhavn or Kady Krogen, and are now realizing that dream.

I will try to explain the difference, for me.

Sovereign of Malahide is a member of the renaissance of classic hand built yachts, crafted by artisans who understand demands of the sea, and possess the commitment to the satisfaction of doing their absolute best work every day. It is their legacy, their value system….their pride. They know lives depend on their work.

People will never see the joint where they marry two timbers together. The joint will be fastened, covered with hull planks, and painted. But they know.
A dichotomy exists between a sumptuous interior, hand crafted, hand sanded, fitted and varnished; and a yacht interior designed on a computer screen for minimum wastage, cut on cnc machines, and installed on a production line. These artisans know sharp corners on counters and coffee tables have no place on a sea going vessel.

These craftspeople know the sea comes first, and lives will depend on their refusal to rush through their tasks. The traditions come from a time when their unwavering focus was not distracted by smart phones, and they understood the importance of their labor was paramount, during a time long before weather prediction services, EPIRBs, self deployed cannister life rafts, and tow boat memberships.

Even though these modern comforts, safety systems, and features exist today; there are still people who possess these commitments, values and work ethic today.
I wouldn’t trade my time in such a boatyard for anything. I was amazed the first time I saw a vessel receiving a new stem in her bow in the yard. After measuring the vessel, a shipwright got in his old truck and drove to a forest 300 miles away from the boatyard, and selected the tree with the perfect bend in it’s trunk that matched the required compound curves of the new stem.
The tree was felled, the trunk was hewn by his hand, and made ready for insertion in the bow. Strength and structural integrity being a given, it also had to obviously be watertight. It had to fit.
The crane picked up the stem high above the boat, and under its own weight, it nestled into it’s home for the next hundred or so years as it slid to within 8 or so inches into position, where it bound for its watertight fit. The shipwright then climbed up on the bow and drove the enormous timber home with his hammer.
I have now seen this operation many times. The workers all gather ‘round to watch a stem going in. It’s not like the crowd that gathers at a tricky turn in a car race, waiting for mayhem…..it is that some watch, as I do in amazement, at the precision of the operation, and others who have done it themselves, watch as a matter of respect to each other in the common knowledge, known only to them, of the skill and commitment it takes to carve such an incredible three dimensional component.
Aesthetically speaking, incredible beauty is borne from this hard work and focus. This is the essence of form following function. These people know that it takes more than a raked forward windshield and a helipad to create an exploration vessel. I suggest that exploring is a function, not a style. Venturing far beyond cell phone range and tow service range is more a matter of substance, than marketing campaigns. The results are beautiful.
There is a difference in viewing an original oil painting by one of the masters, and looking at a print, churned out of a printer. There’s a difference between the hand selected and stitched butter soft hides of a Rolls Royce vs a low cost synthetic interior in a high volume economy car, or the hand shaped rounded corner drip edge moulding on a yacht galley counter vs a sharp edgeless corner on a mass produced yacht that allows the spill in a turbulent seaway turn into a slippery mess on the floor.
Mass produced cars, and art prints are fine, and appreciated by eager consumers; but thankfully an appreciation of the values, minds and hearts of artisans fully committed to excellence remains alive and well.

 

[Max Simmons]

Sovereign used to be moored near my buddies boat at Skyline in Anacortes and I'd drool over her when we swapped slips every summer. Probably the nicest Northwest wood yacht I've ever laid eyes on as well as the best maintained. Good luck with the sale.

 

[woolf]

Yah......fell on my ass...first thing I changed......up north, a bit of snow/slush and you were DOWN!

sanded down, and varnished the covering boards. Then there is a killer teak treatment I found in Florida a couple years ago, called Ditek Triton. It is killer. Very watery in consistency, soaks in to teak, lets teak grey naturally, and repels water (beads up), salt, oil, birdshit, etc. You put it on with a foam brush and you don't have to blue tape off the area. you can Amazon it.

View attachment 111275

View attachment 111276

View attachment 111277

Never heard of Ditek Triton, will take a note for the next boat. Our current float has zero outside wood.

Good luck with the sale of this beauty. Adding a GA plan on your website might be beneficial for seriously interested visitors.

 

[Eduardo]

Kudos to the original poster, Walllace Yachts or Walter or whoever he is. He has shown himself to be a real gentleman in this thread. The restraint he has shown in his replies to the peanut gallery make me think he is a better man than I.

 

[NWpilot]

The correct name for the coating is Ditec Triton. Just a minor spelling error, but returns puzzling results.

 

[wallaceyachts]

The correct name for the coating is Ditec Triton. Just a minor spelling error, but returns puzzling results.

Sorry, yes typo. Hopefully the picture of the bottle of it helped people who are interested. Charter yachts swear by it, red wine even beads up!

A little goes a long way, Amazon has it......the distributor can be a pain.

 

[wallaceyachts]

Kudos to the original poster, Walllace Yachts or Walter or whoever he is. He has shown himself to be a real gentleman in this thread. The restraint he has shown in his replies to the peanut gallery make me think he is a better man than I.

Thanks for your kind thoughts, Eduardo. Your words are sincerely appreciated. My skin is as thin as anybody's, but I try to take each opportunity to address valid questions with thorough responses, for those who may quietly appreciate them; even if the question is launched in an ill-intentioned way. While a comment may be only made to feed the ego of an author, my responses are directed to the rest of you, that my find it either helpful, or at least somewhat interesting.

Thanks again, Eduardo, and I hope you and whoever is in your covid bubble this year have a very nice Christmas.

 

[NWpilot]

Sorry, yes typo. Hopefully the picture of the bottle of it helped people who are interested. Charter yachts swear by it, red wine even beads up!

You're covered, I got the correct spelling from the bottle.