Is a Classic for Me?
A potential buyer of a classic yacht asked this question on an on-line forum: What can I expect in "real" ownership costs [of a classic yacht]? The answers given by two CYA members may be interesting to others who might be contemplating ownership of a classic yacht.
| Asking about the actual costs of boat ownership may be akin to standing in a valley and trying to guess the height of a distant hill. I can assure you that many owners of fiberglass boats built in the 70's and early 80's never thought they would have to spend $$$ to have their hulls shaven and epoxied because of the poor quality of resin the manufacturers used. After all, fibreglass boats don't require work-right?
All boats require some work. The important thing is to have a good idea of what is the present conditon going into the project. You must have a survey performed by a surveyor that knows wooden boats before you purchase the boat! Not just any surveyor will do, and don't accept a survey that was done for the present owner. You are putting out the money -- protect yourself. Have the engine and electrical system looked at by a pro. There is more than pretty paint and varnish to a boat. Try the "sniff" test when you walk into the boat. If it smells of mildew or mold there may be trouble ahead. If the boat passes a reasonable survey, does it now have what you want in a boat? If not,are you intending to change things right now...or over a period of time? Are you good with tools or willing to learn? No one is a born shipright or painter, it's learned and you can if you're willing and you can save yourself money in the long run. Keeping a boat undercover is the only way to go. You pay a little now or a whole lot in a year or two. If you can find moorage undercover and in fresh water that is the best of the deals. Your bottom paint will last up to 3 years and you never have to worry about barnacles invading the thru-hulls and pipes. That again saves on $$$. Owning a boat, expecially a wood boat, is a learning experience. It is also a very satisfying experience for many of us. May this be of help. Mike Oswald |
| I'll put my two cents in here as well. As Mike says, there are so many factors to consider in maintaining a boat that a pat answer is difficult to provide. However, you might want to think in terms of labor rather than cost.
An old hand once said to me that I should budget two hours of maintanance for every hour of use, and over the years, I've come to think that was pretty accurate advice. Of course, to this estimate, one must consider the effort required to bring the boat up to "your standards" first. Few of us with old boats are content to leave the boat in as found condition. In our case, that has meant a program of regularly improving the boat where necessary or desireable, while trying to stay a jump ahead of Father Time. Understand, these are two different aspects of boat keeping. Things that will weigh on the time you need to "invest" are the systems and specific condition of the boat you buy. A boat with modern Diesel power will take less time and money to maintain than one with obsolete engines, regardless the condition of those old motors; good tight canvas or teak deck coverings will need less work to begin with, while keeping the topside planks in better condition overall, yielding less requirement for paint and wood replacement. A recently caulked and refastened boat removes many items from the maintanance list. And so it goes, system by system, item by item, all around the boat. For a boat in Bristol condition, it would be advisable to allow ten percent of the value of the vessel as an annual budget for upkeep. Regardless if you do the work yourself or not, you will be well served by keeping such a general concept firmly in mind. Individuality and matters of taste certainly come into play. I might be accepting of conditions you find irritating, and assuming such conditions don't affect the safe operation of the boat, they simply wouldn't appear on my radar whereas you might feel there was need of immediate work. Even the term "seaworthy" is not really absolute, because, to make a point of it, some would not set out without radar, whereas others will never feel the desire to own one. So there you have it. If this is to be your first wooden boat, there's one maxim that we can all agree on. It will take more effort and greater expense than you expect, but vintage or classic boat ownership is a uniquely satisfying and happy endevour. And the boats themselves are the best places to be and certainly the ones to own. In an era where pure functionality has for the most part replaced craftsmanship, grace, style and warmth, we wooden boat owners always have a place that honors those values to retreat to. It's more than a small pleasure.
Lew Barrett |
