Topic: Half-finished projects

Re: Half-finished projects

Adrian,
For 4500$ you got a trailer(2500$) and the plywood(2000$), the boat is free. It's another way to look at it.

For Little Minute:
If you take the time to look at Little MInute, the price is more then fair for what you got, a paint job is at minimum 10,000$, take the time to decorticate the price. You will see that the price is more then fair.

Marc

Contessa 26 #158
Sun Wave
Montreal QC

Re: Half-finished projects

Definitely Marc, the boat is more or less free at that price. It's still a lot of work to get it to a what I consider 'excellent' condition.

Which brings us to Little Minute, a boat in excellent condition. Someone has done a lot of really amazing work on this boat, and undoubtedly spent a lot of money on her (about $23,000, if I had to guess). Whether or not some odd choices were made - possibly the diesel, though I don't know enough about it at this time to really say,  it's still a 40 year old boat. And $23,000 is a lot for a 40 year old 26 foot boat.

I don't fault him for trying to recoup his expenses in refurbishing Little Minute, and indeed I am glad someone is taking these boats seriously enough to keep them in good shape. He's done a brilliant job and made it a lovely little boat. I do wonder if he'll ever recoup the expenses of refurbishing her. Does anyone ever recoup the costs of refurbishing their boats to this level?

Re: Half-finished projects

Adrian,

I understand your point of vue, maybe he will not be able to recoup his cost. I refurbish mine and it cost me a way lot more then 23,000$, at this level you do it because you want.

What is the "natural" cost of an old Contessa: 10,000$ in bad shape, 15,000$ in good shape. So again you have Little Minute that you can possibly bargain to 18kto 19k the differancial is more or lest 4k to 8k and you have nothing to do than go sailing. The cost range of a new 26 feet sailboat is around 80-100k, and fiberglass is not eternal but not far away when you take care of it.   It's really not to argue with you that i said that, it's only because this boat is a bargain at that price. The cheapest price on an old boat become often a nightmare of expenses.

Contessa 26 #158
Sun Wave
Montreal QC

Re: Half-finished projects

Hi Marc,

I don't think we're disagreeing too much at all, actually.

I think Little Minute is a beautiful example of the Contessa 26. I do, however, think it's important that people realize that refurbishing an old sailboat does not make it a new sailboat. That new 26 foot sailboat has twice the interior volume of a Contessa 26, opening ports, a dodger and bimini, a cockpit dancefloor that'll handle twenty, sleeps 6, and what's more, has the backing of a manufacturer that is still in business. They are very different things.

I think he did a brilliant job on Little Minute, and I am sure you did a brilliant job on Sun Wave. But to expect to recoup your costs for refurbishing the boat isn't realistic. It's the same with houses, cars, boats, motorcycles, anything. With a few exceptions (very rare, specialized cars and motorcycles come to mind), the resale value of a boat that has been very well refurbished will not be that much higher than the cost of a similar boat that hasn't been refinished.

At $18,000, I think Little Wing would be a serious bargain. At $23,000? Not as much. And it seems the market agrees with me, since she's been listed for sale for almost two years.

That doesn't stop me from looking at the photos of her again and again though.

Re: Half-finished projects

I thought that Little Minute did sell (earlier forum postings....)

When I was getting close to finishing refitting Untold Want, I had a price in my mind that I might ever sell her for.  After enjoying it for 6 seasons, the reality of my almost 6 figure pricetag has pretty much disappeared.  I'm getting to the point that I've sailed just about as many hours as I've worked on her.  She still looks pretty good, but by no means perfect.  Theres some more original .125 thick gelcoat thats crazing, and its showing thru the paint.  My homemade paintjob on the hull bothers me twice a year (when I can get up close, out of the water)  Everyone else seems to like it tho...  I've still not got all the interior back together, but working on it.  The six bomar opening ports have to be worth something??  I have roller furling now, a hinged mast step, etc etc.  At the end of the day, she's still a 40 year old boat.  I'm fortunate in that I can repaint her if I want, repower her if I need, and pretty much do whatever else without depending on anyone else or laying out big $ for labour.

At the end of the day, she's still worth way more to me than any buyer, auction house, insurance company, or surveyor.  But that doesn't mean she will ever sell for that "magic number"

Theres really only a few reasons why one would by a Contessa 26 (be it 197x or 199x).  You're either heading off and need a boat that will take care of you, or you like the way they look.  They're small, a wet ride, old and almost always need work.  But you rarely see restorations - or the following/community - of a Grampian 26........

Re: Half-finished projects

Stefan, you are absolutely right. She sold quite some time ago. I just checked through the marketplace postings, and indeed, she's gone. I wonder who's enjoying her now, and even more interesting to me, how much did she go for? She sure is lovely.