Random Thoughts on Buying an Old Boat
I get asked about the merits of buying an old boat and ‘fixing it up’. Of course, the person asking the question usually has a limited budget. The complimentary question is whether they have the time and skills to do the fixing. Some boats are prohibitively expensive even if they are free. I speak with authority as I own a 56-year-old wooden boat.
Build quality counts; as does care, maintenance and any past damage. Generally, the condition of the hull and decks can be determined by means of a thorough survey. The age of a high-quality boat, that has been well maintained and surveys well, in my view, is not of major concern. But even without the need for any structural restoration, including wet coring in fiberglass boats, addressing the cosmetics and the depreciable elements of a yacht can be daunting.
These so-called depreciable elements come under five broad headings: Machinery and Systems; Electronics; Soft Goods, which includes upholstery and canvas; Safety Gear, everything from flares to life rafts; and, on sailboats, Sails and Rigging.
This is where simplicity counts. Old boats with a lot of (ageing) systems present a particular challenge. My own boat is a good example of the merit of simplicity. I do not approve of showers on (smaller) wooden boats. The moisture and steam permeate the boat; and over time encourage mildew and rot. To my mind, the absence of a shower means that there is less need for a hot-water system; and therefore, pressure water. I have 50-year-old Fanspray hand pumps that work flawlessly. A diesel stove and a big kettle look after the hot water. I carry 100 gallons of fresh water. It takes a determined guest to go through that much water with a hand pump; pressure water - not so much. A bit extreme for a wife and kids, but you get the idea.
Strategically placed unions in the freshwater lines mean that the system on my boat is easily drained and winterized: no plumber’s anti-freeze is needed. Contrast this with a modern motor-yacht with two heads, galley sinks, icemaker and an aft-deck shower. I was shocked when I was told that some boats consume 35 gallons of non-toxic antifreeze, not including engine winterization. Then imagine this plumbing aged-out. Add in air conditioning units, a generator, batteries, wiring, old, inefficient battery chargers and inverters and you have a maintenance hand-full (and a replacement nightmare).
This is where consistent maintenance and upgrading count for a lot. I have offered well maintained and upgraded older boats for sale that seem expensive; but the Buyer is often getting upgrades for half of the cost of buying a needy boat and attempting the work themselves. It’s a classic ‘pay me now; or pay me later’ sort of thing.
Machinery is another matter. I’d rather have a well-maintained boat with a lot of hours on the engine(s), especially if there is a maintenance log, than a low-hour dock queen that has been sitting unused. The diesel engine in my boat has 7,400 hours on it and it works perfectly. Annual oil sample analyses support my view that it’s in great shape; but I’m particular about its servicing. Contrast this with a 20-year-old, low-hour, boat that hasn’t been anywhere. Jumping aboard and undertaking a thousand-mile delivery without a lot of preparation is just folly. Belts, hoses, heat-exchangers, pumps, impellers and fluids all need to be addressed; and this is not to mention running gear: shafts, propellers, cutlass bearings, stuffing boxes (shaft-seals). Organizing mechanical work at a distance will be costly; if it’s even possible.
I’m old school and I can live with old electronics, but the new stuff is so slick that I am a convert. Upgrading over time is understandable. What complicates the process is the removal of wiring remaining from absent old gear. I have a rule on my boat: if an accessory is removed, the associated wiring comes out with it. I’m always shocked by how much wire one system represents. This bundle was from a single analog cell phone.
Imagine contending with an old boat with old gear and a lot of residual wiring.
Soft-goods, including upholstery and canvas are a bit more discretionary; but safety gear is not. Similarly, sails and rigging on a sailboat are critical to the safe operation of a boat. Dacron sails are tough and age slowly so one really may not notice how bad they are until one acquires new ones. UV damage is a different matter. Old sails conscientiously maintained and covered may be serviceable. Standing rigging has become an insurance company fetish of late; but there are a lot of variables: fresh VS salt- water usage; seasonal VS year-round usage; seasonal mast removal; proper sizing; care and observation. I contend that stupidity is the biggest cause of rig failure in these parts.
All boats need recapitalization over time. I’ve had my boat for 47 years. I’m on my second engine, fourth suit of sails; countless iterations of electronic gismos and interior upgrades. Keep them long enough and you will ‘re-do the re-does’, as I put it. It’s just part of keeping a yacht ready for sea, or whatever adventures you have in mind. As for buying a ‘project boat’, a careful and realistic assessment of the scope of work is the key; plus a budget. Go in with your eyes open. Maintaining a boat is often enough of a challenge, never mind a restoration.
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