Here is a contribution under the recurring topic of "what is this boat worth?"
You may recall the discussion at the time. I have edited the private message somewhat.
I made the mistake of hurriedly purchasing a 1976 Ericson 32 for the kingly sum of $3600, thinking I could just sail it away with my wife and our 7-year-old. I started posting about it on the Erickson Yacht Owner's list, and [members] started cluing me in as to what would be ahead with this boat, i.e., that it needed a total refit be seaworthy and enjoyable. I argued that it was a miraculous exception to the laws of economics, until I discovered, within an hour of signing the papers, that leakage around a chainstay had turned a concealed part of the main bulkhead to which it was bolted to mush. Then I started to really tear into the boat and began to understand what a vast project the thing was -- a project I would probably have enjoyed if I had the time -- time which I would rather spend learning to sail. I told the seller that I was not going to take possession of the boat and she could do as she saw fit with my money, which she kept. I have no idea what became of the boat, but I hope that she simply gave it someone who had the time for a new hobby.
One of the things [members] advised me is that a boat that sells for $20,000 is a boat that cost $20,000 and then has had another $20,000 invested in it, along with a fortune in sweat equity, etc. I spent the summer reading and researching and began to understand the value of this advice. I decided that the "bargain" E32 was a "false start" and that I did really want to start sailing a cruising sailboat with my family. This fall, we bought a 1986 Sabre 32 -- a $32,000 boat that had had an additional $30,000+ invested in it, (I kid you not, I have the receipts,) and a couple of years of work, by its former retired owner. I paid $40,000 for the boat, and it is in superb condition, extensively re-fit with new standing rigging, new sails, new running rigging, new instruments and chart plotter and AIS, new ground tackle, new auto-pilot, new wiring, LED running lights, new bottom job, new fuel tank, etc., etc. Of course, I still have a "to-do" list, but it is all optional stuff, like installing solar panels...and new curtains (haha)....
Instead of investing tons of time and money in the boat, as was so correctly predicted I'd have to with the Ericson, we are investing in sailing instruction with Offshore Sailing School for both my wife and I. We have joined [a yacht club] and will move the boat there in April, and begin to spend our weekends sailing on the Sound, with the plan of spending longer periods of time cruising during the summer -- perhaps taking the month of August to live aboard. After our first night aboard the boat at its current slip on the Jersey Shore, [my wife] turned to me and said "Why did it take us so long to do this?!" It feels like a natural activity for us, and we are thrilled to begin.
I just wanted to thank you and the Forum for sage advice last summer. It really made a difference for us.
You may recall the discussion at the time. I have edited the private message somewhat.
I made the mistake of hurriedly purchasing a 1976 Ericson 32 for the kingly sum of $3600, thinking I could just sail it away with my wife and our 7-year-old. I started posting about it on the Erickson Yacht Owner's list, and [members] started cluing me in as to what would be ahead with this boat, i.e., that it needed a total refit be seaworthy and enjoyable. I argued that it was a miraculous exception to the laws of economics, until I discovered, within an hour of signing the papers, that leakage around a chainstay had turned a concealed part of the main bulkhead to which it was bolted to mush. Then I started to really tear into the boat and began to understand what a vast project the thing was -- a project I would probably have enjoyed if I had the time -- time which I would rather spend learning to sail. I told the seller that I was not going to take possession of the boat and she could do as she saw fit with my money, which she kept. I have no idea what became of the boat, but I hope that she simply gave it someone who had the time for a new hobby.
One of the things [members] advised me is that a boat that sells for $20,000 is a boat that cost $20,000 and then has had another $20,000 invested in it, along with a fortune in sweat equity, etc. I spent the summer reading and researching and began to understand the value of this advice. I decided that the "bargain" E32 was a "false start" and that I did really want to start sailing a cruising sailboat with my family. This fall, we bought a 1986 Sabre 32 -- a $32,000 boat that had had an additional $30,000+ invested in it, (I kid you not, I have the receipts,) and a couple of years of work, by its former retired owner. I paid $40,000 for the boat, and it is in superb condition, extensively re-fit with new standing rigging, new sails, new running rigging, new instruments and chart plotter and AIS, new ground tackle, new auto-pilot, new wiring, LED running lights, new bottom job, new fuel tank, etc., etc. Of course, I still have a "to-do" list, but it is all optional stuff, like installing solar panels...and new curtains (haha)....
Instead of investing tons of time and money in the boat, as was so correctly predicted I'd have to with the Ericson, we are investing in sailing instruction with Offshore Sailing School for both my wife and I. We have joined [a yacht club] and will move the boat there in April, and begin to spend our weekends sailing on the Sound, with the plan of spending longer periods of time cruising during the summer -- perhaps taking the month of August to live aboard. After our first night aboard the boat at its current slip on the Jersey Shore, [my wife] turned to me and said "Why did it take us so long to do this?!" It feels like a natural activity for us, and we are thrilled to begin.
I just wanted to thank you and the Forum for sage advice last summer. It really made a difference for us.