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Sailboat Estimate

Kevin K

Junior Member
Not sure if this is the place to post this, so point me in the right direction if I'm wrong.

I was hoping you fine people could give me some advice on what to offer for a boat.

The boat I'm looking at is a 76 Ericson 29 with an Atomic 4 engine. The boat definitely needs some cosmetic work, but is structurally sound, comes with sails and a roller furler. Now the issue is, the engine doesn't run. I think I can do the work to get it running myself. The seller has a $4k quote to get the engine fixed, but you could also buy a rebuilt engine for $4,500 or so. The boat is being offered for $6,500, I've been talking to some people on the engine forums and they think I should offer $2k with no (working) engine. I was thinking in the $3-4k range, but wanted to see if anyone here had any thoughts.

Thanks!
Kevin
 

supersailor

Contributing Partner
Advice

What is wrong with the engine? $4,000 is a lot of fixing. Be sure to check the deck carefully for soft spots. A moisture meter is helpful for this. How old are the sails? Is there mold and mildew in the cabin or on the sails?
 

bgary

Advanced Beginner
Blogs Author
Two pieces of input

1) the boat's worth whatever a buyer is willing to pay. It's on you to do some research and decide whether that's a good value or not.

2) here's a starter for some research: there are 6 E29s currently listed on YachtWorld, ranging between $3000 and $18000 (the median is about $8500).

http://www.yachtworld.com/core/list...on&slim=quick&No=0&Ns=PBoat_sortByPriceDesc|1

Plus there is a 27 on chicago-craigslist: http://chicago.craigslist.org/nwi/boa/5240681056.html

You're looking at a boat that is at a nominal starting price of $10,500 - an asking price of $6500, *plus* some engine work (which may cost less than 4k, or could cost significantly more if the engine can't be fixed/needs to be replaced), *plus* you're taking on the burden of getting that done.

If it were me, I might look at some of the other listings to see if the $6500 is reasonable price for the boat as equipped and in current condition. And then I would decide whether or not I really wanted to take on the engine problem. One option would be (if the boat is otherwise sound) to negotiate the price downward, because of the engine, based on your analysis of comparables, and then use the difference to buy an outboard that would at least get you on the water while deciding whether to repair or replace the inboard. Maybe not a great idea, but... it's an idea.

Edited to add: I'm with christian, below: unless there were something "special" about that particular boat, and I was up for a project with a lot of unknowns.... I'd walk.

B
 
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toddster

Curator of Broken Parts
Blogs Author
It does kinda sound like a $3-4K boat, but it's hard to say without seeing the condition of the sails, rigging, wiring... Also, $4k seems like a decent budget for an engine replacement, but that doesn't include exhaust system, shaft, prop, strut, tank, batteries and any other associated goodies that might be baddies. "Repairs" might easily grow to 4K without even replacing the block.

Oh well. If they turn down your lowball offer, give them your card and mention that your offer is only good until you settle on another boat. They might soon change their mind.
 

Kevin K

Junior Member
What is wrong with the engine? $4,000 is a lot of fixing. Be sure to check the deck carefully for soft spots. A moisture meter is helpful for this. How old are the sails? Is there mold and mildew in the cabin or on the sails?

I have a quote, it needs a new exhaust manifold and alternator along with some other work. I think I can do most of the work myself and with the help of a few friends.

The sales are less than 5 years old. No mold or mildew that I'm aware of, but I need to go back and look it over more closely. I am not sure if I'll do a survey, I know about the engine, I just want to check the boat over a bit more thoroughly and maybe do an engine pressure test to check if the engine block is in good shape.
 

Kevin K

Junior Member
1) the boat's worth whatever a buyer is willing to pay. It's on you to do some research and decide whether that's a good value or not.


B

Thanks for the feedback, I did look at some other boats, but they have working engines (at least all the ones I saw, I will double check that. So I know what a working boat is worth, I guess what I need to know is what the value of a boat with no engine is worth. The repair quote I have is for $4,000, a rebuilt engine costs $4,500 or so, so this boat essentially has no engine.
 

Christian Williams

E381 - Los Angeles
Senior Moderator
Blogs Author
Kevin,

Here is a similar boat a member is in the act of purchasing:

http://www.yachtworld.com/boats/1976/Ericson-27-2888936/Norfolk/VA/United-States#.Vhf6UvlVhBe

You might compare the gear of your prospect to the "View Full Specifications" list above.

And note the relative pricing.

[I'll print the list for future comparisons to 1970s E27 in the $6500 range. Probably this particular boat is especially well found, but it does show what is out there:]

Electronics
Recently installed knot meter

Depth sounder

Both hard wired and hand held VHF

Hand held Garmin GPS

Deck and Hull

Bottom painted 2014

2 Bomar overhead hatches replace originals

3 custom cockpit cushions in excellent condition

13 lb. Danforth anchor and line

Horseshoe throwable on bracket

7 life jackets

Electrical
12 volt and 110 volt systems

Shore power cord

2 12 volt batteries installed under stbd settee

There is an Air Conditioning unit built into the cabinetry. It works off of shore power and water.

Sails and Rigging
Mainsail by Baxter in excellent condition

150% genoa by Rolley Tasker on Harken furler in excellent condition

138% genoa by FX which is 4 yrs old and excellent

155% genoa by Harstick is 2.5 yrs. old and excellent

There is a Garhauer solid vang

Newer heavier mainsheet traveler by Harken on bridge deck

Newer Lewmar 30 2 speed winches for genoa

All lines from mast led aft through clutches to 2 winches on cabin top

Mechanical backstay adjuster

Windex masthead relative wind unit

Additional Information
This boat has been successfully raced since bought but it is also a very accommodating pocket cruiser, the built in A/C turning what would otherwise be an uncomfortable nights sleeping experience into a pleasant one. The engine has been meticulously maintained by the owner, an experienced mechanic and the boat is a delight to sail. This is a perfect starter boat for a young couple or anyone else who wants an enjoyable sailing experience without tying up a lot of money.
 
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