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Submerged Defever Worth Buying?

Discussion in 'General Yachting Discussion' started by Jas0381, May 13, 2014.

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  1. Jas0381, May 13, 2014
    #1
    Jas0381

    Jas0381 New Member

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    You might say that this isn't even worth asking but...

    If the price was right, would you ever consider the purchase of a partially submerged, retrofitted and repaired Defever. All of the flags are out there for us. I wonder if anyone has done this, knows someone who has or just wants to chew on me for thinking (not thinking) on it.

    She is an 1989, 55' with 25 hrs. on rebuilt 750hp DD's.I saw her seven or so years ago and the broker represented her as being seaworthy, properly restored etc. She is remarkably beautiful.

    We sold our last boat in August and recently decided that life has been less fun without knots and islands, so, on the search again we found her with the same broker.

    Chime in and tell me what you think.

    Joe
    Former Owner
    Lucky Liner
    2002 4788 Bayliner
  2. Ken Bracewell, May 13, 2014
    #2
    Ken Bracewell

    Ken Bracewell Senior Member

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    Anything we post here will be pure speculation. If you like the boat, and the price is right, you would be better served by having a talented surveyor answer these questions for you.
    Best of luck.
    Ken
  3. RER, May 13, 2014
    #3
    RER

    RER Senior Member

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    I'm sure you can buy a similar Defever model without a sinking in it's history. Is the price difference worth it?

    More importantly I would be concerned with rebuilt Detroits at only 25 total hours SMOH in 2009. The first 150 hours or so on a DD rebuild is the hold-your-breath and keep-your-fingers-crossed period and those motors aren't past that.
  4. K1W1, May 14, 2014
    #4
    K1W1

    K1W1 Senior Member

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    Hi,

    Ain't that the truth.

    A very good post to see so early in the thread before those who feel the shape of the wheel is wrong attack their keyboards.
  5. Capt J, May 14, 2014
    #5
    Capt J

    Capt J Senior Member

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    I too concur to hire a good marine surveyor to make that decision for you. It depends, if they went through the boat and repaired and replaced everything and anything, you might have a better boat with new wiring, plumbing, machinery etc. If they cut corners, than you'll have a royal mess on your hands. You need someone very knowledgable to inspect it.
  6. Jas0381, May 15, 2014
    #6
    Jas0381

    Jas0381 New Member

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    Submerged defever

    Your comments are helpful and appreciated.

    My broker is someone I trust explicitly. He is overprotective. I know that we are his focus and think that he will have us going in a different direction soon.

    Before that happens, I need to get on her and ask as many of the right questions as I can. I'm not sure there will be a good answer about the low hour, unused engines since majors.

    Thanks for the time and thoughts you have sent my way. Keep me coming.

    Joe
    Jas0381
  7. maldwin, May 15, 2014
    #7
    maldwin

    maldwin Senior Member

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    I also know of a relatively new East Bay 49 which was submerged, then refit perfectly with new engines, to better than new condition, and was very difficult to sell. Buyers preferred older engines in boats of the same model year to this boat.
    Best,
    Maldwin
  8. RER, May 15, 2014
    #8
    RER

    RER Senior Member

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    True. 99.999% of buyers will not buy a sinker no matter how good the refit job is.

    I've seen refit sinkers that are better boats than they were before they sank - but that does not necessarily translate to market value.

    It seems the way to realize ROI for the cost of refitting a sinker is over time, through your own use and enjoyment of the boat.
  9. sunchaserv, May 16, 2014
    #9
    sunchaserv

    sunchaserv Member

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    Be sure to check is this a real DeFever design as compared to a vessel built by the yard that built DeFevers during that era. As you know, DeFever was not a builder, just a designer and a very good one at that - of lower powered displacement hulls.

    Contacting the DeFever Cruisers club may prove helpful in this regard.
  10. SeaEric, May 16, 2014
    #10
    SeaEric

    SeaEric YF Historian

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    From the YachtWorld listing - this boat has been for sale since 2005. That's an awfully long time to sit on the market unsold. This may suggest some difficulty down the road when her next owner decides to sell.
  11. Jas0381, May 16, 2014
    #11
    Jas0381

    Jas0381 New Member

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    Submerged defever

    Yes on the market date.

    I was told that the owner took it off the market, then relisted. Supporting the chance that there might be some skulduggery involved are the low engine hours that don't even suggest that they were brought up to temperature monthly.

    Thanks for your input.
  12. Capt J, May 16, 2014
    #12
    Capt J

    Capt J Senior Member

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    25 hours since 2005? That's 3 hours of running time per year! When something smells funny, it usually is. Either that, or offer them WAY less than asking so that you can cover yourself for anything.
  13. Jas0381, May 16, 2014
    #13
    Jas0381

    Jas0381 New Member

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    Submerged defever

    It may be that the DD's were rebuilt in 2009 but the issue is the same.

    Sunchaserv, thanks for the tip with the Defever Club. I asked and hope something comes back today.
  14. Capt Bill11, May 17, 2014
    #14
    Capt Bill11

    Capt Bill11 Senior Member

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    If the boat has really seen that little use in all those years every seal, gasket, diaphragm and O-ring on board would be suspect. None of those things like sitting around unused. They all start drying out and then fail once they start to get used again.
  15. Jas0381, May 17, 2014
    #15
    Jas0381

    Jas0381 New Member

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    Submerged defever

    Thanks Capt.

    Then it wouldn't be a good deal unless one factored in the cost to change out hoses, gaskets, seals and even at that, it's still a gamble?!
  16. K1W1, May 17, 2014
    #16
    K1W1

    K1W1 Senior Member

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    You've got that in one
  17. olderboater, May 19, 2014
    #17
    olderboater

    olderboater Senior Member

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    There's a submerged Northern you could look into now.
  18. Jas0381, May 19, 2014
    #18
    Jas0381

    Jas0381 New Member

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    Submerged defever

    This one is local and I have been on her. Since my broker and everyone else has strongly cautioned me, I think I may be over it.

    Thank you all!

    Joe
  19. Jas0381, Jul 3, 2014
    #19
    Jas0381

    Jas0381 New Member

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    Submerged Defever

    Update:

    I could not resist the urge to get on this boat again. The admiral and I saw her yesterday as we were in the SF Bay Area. She was not as she was when I saw her last and any silly hopes that I had of refitting her were dashed when my wife looked at her.

    She will be right for somebody.

    Thanks for all of your help.
  20. NEO56, Jul 24, 2014
    #20
    NEO56

    NEO56 Member

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    "She'll be right for somebody" (Quote) You got that right Jas, when it comes to boats like that P.T. Barnum was right "There's a sucker born every minute."