At what point is a boat worthless?

We are looking at 3 boats (1986 54 Bertram and a 1987 55 Hatteras ) both with 3500 +- hr 1271s, towers. Both boats need paint, electronics, pumps, interior upgrading, etc.....Both could be bought for low low figures but is there true value to either if it will take $ 250K to bring them back considering they are late eighties SFs with 1271 Detroits? We have also found a 1979 Hat 60 with 3000 hr 1271s in SD which is truely bristol.........at $ 240ish........Maintained to a degree which is off the charts by a mature and knowledgeable multi Hatteras owner........that lives aboard. I am not sure we want a 60 and an enclosed bridge or we would be done as it is truely exceptional. Also wondering if these boats will soon have no resale value due to age and technology......and with fuel prices increasing as they are. We love older Hats especially, have wanted one for a long time, just now have the funds to buy and maintain one......but are also a bit cautious now with the reality of a weak economy and reality.

Ideas,opinions

Great responses guys! At 56, and having built many things in my lifetime, I have ALWAYS had an interest in refurbishing a classic Bert or Hatteras so the concept SOUNDS intriguing.........its just that I know enough about the reality of actually doing it to be very cautious with a chunk of our nest egg....I know the budget will come in way more than anticipated. We have set aside a budget of $ 250K including surveys/tax/shipping/etc for anything we buy. I have tried to convince my wife to allow us to buy a boat with a 50 % partnership plan, I have a guy that wants the same and has a number of boats with partners all over and REALLY knows whats involved to own/maintain a boat........but she isnt bitting on the idea at all so that idea is scrubbed......! I think I want a flybridge boat as an enclosed bridge to me feels a bit claustrophobic......and seems to limit " feel " and visibility. I,m sure its something I would get used to and the 60 in San Diego is truly an incredible boat in person. It also has 3000 hrs plus on the clocks and if we bought it, we would spend our total set aside funds getting it. If we blew an engine in the near future, it would not be fun having to spend another $40K-$50K rebuilding it. We would have it but..........we also want a nice nest egg for the unexpected "normal" surprises life throws at us all.....Then theres the statement we truly believe in of " Life is also very very short " and boating is a love affair we have had our entire life......and now have a 7 year old that wants a sportfisher....and a big one . She knows a Hatteras from a Viking and a Bertram. She hates express fishing boats such as the Cabo 35....which is a nice 35 ft boat.........but its NOT a convertible/sedan.

The thought of buying a late 80s 55 Hatteras for not a lot of money......that also has 3500 hrs on it SMOH....was used in chartering but in an area where it hasnt seen a lot of charters for a long while.....that runs fairly well but certainly needs money to be thrown its way on items that have been let go.........and actually looks fairly nice ( a 6 or 7 overall )............sounds not bad as we could throw money its way "over time" and ultimately make it OURS! If we put $200K into it, we could have completely majored engines, new paint from rubrail up, freshened interior, some electronics, and the maintenance items addressed. We would then have invested what the 60 in SD would cost to buy. It sounds like a better way to go albeit a lot of work as well. The 55 has been referred to us as the best overall model Hatteras ever built and our feelings are the 60 enclosed bridge is just a bit more boat than we need/want....and has an enclosed bridge........and 3000 hrs on the 1271s......albeit most likely operated perfectly with no abuse.....ever! As mentioned , my background is rebuilding/construction/mechanical systems so the idea of another project doesnt scare me. Its on my bucket list I suppose..........but at the same time.......I want to take my little one boating too.......and fairly soon.

There isnt an easy answer here and I know buying a newer/smaller boat is the smarter idea......it just isnt as appealing to us. My wife and I both have an admiration for these older battlewagons and appreciate what they are. If we came into real money someday, but still couldnt afford our dream Merrit SF, we would still buy one of these older boats and do exactly what we are considering here....but with a willingness to repower with C 18s or C 33s and bring everything up to state of the art standards.......without the worry of getting the money back out someday. Having said that, I suppose what we need to find is a boat where someone else has done exactly that, and can afford to sell it for what we can afford to spend.........

Shazam, I,m sorry you dont feel we are serious as we have always been very serious..........but with the economy, a wifes serious ilness, a loss of projects , etc etc etc........and the fact we are not wealthy yet want our dream to come true........yes.....we have been up and down regarding buying a boat. Many many dissapointments.....many with brokers and their boats..........My experience in the Navy special forces taught me one thing......you never give up as its not an option........ever. Weve wasted a lot of legitimately hard earned money on cars, motorcycles, boats, etc like many and learned theres no guaranty the money will continue regardless of ethics and determination and a willingness to work hard for everything....Its the hard cruel world we live in.......I,m dead serious about getting my 7 year old on the water.......refuse to get a boat loan.......refuse to empty our nest egg.......love older real deal SFs, and my wife loves Hatteras's. I like the company too and the people that built/build these boats in NC........have visited the plant and met some incredible real deal people there in NC.......and wish I could afford to buy one of their products. I opt to comment on this forum as there are a lot of opinions out there from people that truly know what they are talking about. There are also many that question everything/everyone and try to analyse posts for their legitimacy rather than their interesting comments/questions. It seems you are sitting on what you would like to be a throne looking down on others trying to figure out who they are and what do they really want........and are they real rather than the substance of the post. I,m most likely more real than you and look eye to eye with people as I have no idea what they have been through nor do I know who they really are. Until I figure that out, I listen and try an give them my attention and a legitimate response. Keep your comments questioning if I am real inside your hurt locker. Trust me. I am! I am simply at a point where I can finally get my daughter on the water and am trying to make a decision we can live with.......long term without destroying us financially. Yes...I can work on most anything but also realize some things are simply prohibitive to maintain.......unless you are wealthy and have hoards of spare time. The picture I get everytime I get serious about these older SFs is that they are simply pathetic regarding maintaining. Fuel cost threatening to skyrocket due to politics simply adds to the threat but fuel as we know is the cheapest thing we put into these toys. I get it.....

Sorry to vent but your comment needed to be left out..........

Also regarding the prices of these boats being grossly overpriced, the 55 Hat and the 54 Bert can be had for around $40K to $60K.....$ 100K for 2 in frame rebuilds ( quoted ) including 1 genset, $ $ 30 to 50K for some paint/cosmetics, $ 50K to $70K for bottom paint,soft goods/some maintenance items ( pumps,hoses,etc) and a new Garmin unit.. Wont be 100 % rebuilt but certainly ready to use at $ 250K for a 87 55 Hatteras. I also realize these older DD sfs arent exactly flying off the shelves and I doubt that scenario will get better over time.........so yes.......I understand and again.......am thinking we are looking down the wrong tunnel........at least until we win the lottery.......which we dont play!

Thanks to all of the non judgmental responders out there for their knowledge!

We did that too but as we actually use our boats enough to justify owning one, chartering is not for us. I realize it makes better financial sense but boating is also more than the bottom line.....Its why so many have so many issues with corporate America........its always about the bottom line. The old adage of "if it flys, floats, or ####s, rent it"..........simply wasnt written by someone that truly loved boating with family. Bareboating is not cheap either which is the only form of chartering I would consider for cruising. There were so many times we simply ran down to the boat and released pressures from a day of dealing with society that owning for us is a must. A trailerable wont work as we know that reality as well. No, we are pocessed by the maritime sickness, its in my blood, and there isnt a repair on the planet available....nor do I want one! Rather than charter, I would rather push harder to make more so owning can happen. There have been so many owners that we have met that have the illness as well and never regretted owning the boats in their lifetime. I know you understand exactly how I feel and most likely agree. Yes, financially and in regards to a bottom line, chartering makes better sense FINANCIALLY, just not emotionally which to us, is the true bottom line.

Regarding these boats, I just discussed the comments with my wife and she wants me to make an offer on the 60 Hat I looked at and to quit looking or shopping......She feels we will find a way to make it all work out........! God be with us!

Not sure how to answer that. I seem to be the more conservative between my wife and I. I am open to a partnership....she is not. I pay the bills but its her money buying the boat! Shes done with me looking and wants to be on the water. So do I but I also am trying to be realistic here. I know we could afford to own the 60 in SD as long as we dont encounter a major in the near future. Its been maintained seriously to the highest level.........but things do break still. Pumps, sensors, hoses, fuel changes, electrical, plumbing, etc etc is not a worry as I,ve done it so many times before. I,m more concerned with engine or gear box issues and other major mechanical systems. My feeling is with how it has been maintained and how we will use the boat, the engines should go beyond our ownership as long as I continue its care accordingly. Bottom paint, zincs,fuel,insurance,dive service,washdowns,oil,etc are anticipated and a budget for these items is more predictable.......Its just the unknowns and the exit issue we will have to deal with someday. If we hit a windfall and still own it, I would still run it till it dies and then repower it with C18s not worrying about a return.