[Buzzard11]

I hate to even consider this but, I'm thinking of selling my 31' Downeast boat, my oldest son is starting college this fall and I will need the money to pay for this. I'm trying to find out what I could get for this boat and what would be a fair price to sell it for. Can you please give me your opinions?

The hull was laid up in January 2006 and the boat was completed and launched in 2007, I need to get all of actual documentation together for accuracy though. I have pictures of the whole building processes. Below is a quick list of the specs:

31' West Bay Hull with 370HP Yanmar under the floor (approx. 350 hours on boat and engine)
Big In Floor Fish Box
Twin 100 Gallon tanks
Simrad AP35 Autopilot
Furuno 1833C - Fishfinder, Plotter, Radar unit
Icom 504 VHF
6 man Solas A Survival Raft
Heat, Hot Water, 30 gallon water tank
Flushing Head
Outriggers
Swim Platform
Much Much More

 

[baywatch]

Great looking rig,

What is the beam?

Makes me think and miss my General Marine.

 

[Buzzard11]

It has an 11' Beam. Great boat and very efficient.

 

[MakoMike]

In the curretn market it is very difficult to say what it is worth. Lost of boats up for sale and not many buyers, Between the credit crunch on financing and the price of fuel, not a lot of people want to buy a boat these days. My advice would be to look for similar boats on yachttrader.com or similar sites and deduct 10 to 20% fo a realistic estimate of what you might get.

 

[wpdesmarais]

I followed your posts when the build out was in process. That is one fine looking rig. Just what I would be looking for. I "almost" had a 31 Duffy or something like size built out last summer.
But, I bought a FL boat 31 96 Blackfin Combi with 6BTA 370s (550 hrs.) this past March. A/C, heat, cook, nice hardtop, swim platform, hardly used, what we (family)were looking for. A fast tank on water, pretty good fuel efficiency for a +22K lb. boat.
Paid 85K, 4K for trucking to MA. Another 20K for routine maintenance/upgrades per "my" new specs. So I'm in for $110. Basically a "new" boat.

I still have a "hankering" for a 31 Downeaster. I guess my point is with the boat market as it is TODAY, I think I'd be hard pressed to find any buyers who would pay $110K.

I guess my point is....I have to figure your boat built out north of 150K. Do you think you could get 150K for the boat today? Worth every penny of course, but probably very few buyers.
Regards, Bill

P.S. your boat is exactly what I would have wanted bult. Very Nice!
Regards, Bill

 

[Flukinicehole]

Being a father and all, I often wonder why someone would sell something they worked so hard for, to send there kids to school? We all want whats best for our kids but keep the boat. Let your son take student loans (you can help him pay them off later). Do you ever have the family on the boat with you when you go out? My boss sold his 69 Vett to send his son to school and I told him the same thing. That was 4 years ago and his son dropped out and is now a plumber. Seriously think it over the loans are good

low interest and a tax write off. Keep the boat if you can and enjoy it with the family.
There is nothing wrong with starting life in the hole a little. My whole family did it and it taught us at a young age to appreciate what we work for.

This post edited by Flukinicehole 07:48 AM 06/28/2008

 

[northsider]

Buzz11, I think Mike's suggestions are good. I feel your pain, my boat is not nearly as nice as yours but when I had to officially put her up for sale last week I was a wreck. When I walked out of the brokers office I was about to cry but punched out my truck instead. I feel like a part of me just died.

Your boat is beautiful, if you can find any alternative, keep her, especially since you are likely to take a big bath in this market

 

[Scott1280]

Flukinicehole wrote:
Being a father and all, I often wonder why someone would sell something they worked so hard for, to send there kids to school? We all want whats best for our kids but keep the boat. Let your son take student loans (you can help him pay them off later). Do you ever have the family on the boat with you when you go out? My boss sold his 69 Vett to send his son to school and I told him the same thing. That was 4 years ago and his son dropped out and is now a plumber. Seriously think it over the loans are good

low interest and a tax write off. Keep the boat if you can and enjoy it with the family.
There is nothing wrong with starting life in the hole a little. My whole family did it and it taught us at a young age to appreciate what we work for.
I agree! Let him take advantage of all of the very low interest student loans and you can even help him pay them back. You may take more of a bath selling your boat than the interest on student loans would cost you in the long term, especially of you plan on buying another boat at some point in the future. Make sure you crunch all of your numbers before selling.

Good luck!

 

[Fishbust]

Keeping the boat...

Flukinicehole wrote:
Being a father and all, I often wonder why someone would sell something they worked so hard for, to send there kids to school? We all want whats best for our kids but keep the boat. Let your son take student loans (you can help him pay them off later). Do you ever have the family on the boat with you when you go out? My boss sold his 69 Vett to send his son to school and I told him the same thing. That was 4 years ago and his son dropped out and is now a plumber. Seriously think it over the loans are good

low interest and a tax write off. Keep the boat if you can and enjoy it with the family.
There is nothing wrong with starting life in the hole a little. My whole family did it and it taught us at a young age to appreciate what we work for.

Very good post!

KEEP THE BOAT One way or another the bills will get paid but we generally cannot replace some things we 'might' give up for 'maybe' the wrong reason even though is 'seems' like a good reason at the time. 0

 

[onitis]

Keep the boat,leave the student.

 

[powderpro]

College kid needs a job

If you plan on never having a comparable boat again, then get hosed and sell it. But, if you are going to get another boat similar to this in the future and you currently love boating, then I would keep it. Does your college student have a job? My wife went through 4.5 years at a university, paid her whole way, and when she graduated with a bachelors degree, she owed $1,500. She worked part time, and still managed a 3.9 gpa. 'Course she married me and I immediately paid off the loan. It can be done if your son is willing to go get a job, even if it's flippin' burgers. My wife's parents had good money, but they told her she needed to go out and be responsible for her life. I'm glad they did, but she has never really used her degree. We had our first child 3 years after being married, and she hasn't worked outside the home since. I'm the one that dropped out of college (I hated college) and making the money.

Brian

This post edited by powderpro 12:24 PM 06/28/2008

 

[baywatch]

Good Advice~~~~BUT

Ths is a great looking boat and everyone is entitled to there thoughts but if you notice Buzard 11 first statement it refered to his oldest son.

[I hate to even consider this but, I'm thinking of selling my 31' Downeast boat, my oldest son is starting college this fall and I will need the money to pay for this. /i]

We don't know if there is more then 1 childs education to consider, or if he has a daughter that may be looking for a wedding in a few years. There maybe another few in back of his oldest. He sounds like a traditional father who was taught to raise and bear responsabilty for his children, which is a good thing.

I am in the same situation coming up in a next year when my son graduates High School, so I feel his frustration/pain.

The advice given here is good but this is his own call, and I am sure we gave him somethings to process in his own mind.

Every situation is different. If he was going to sell it now would be the time cause fuel prices are only going to get higher and the longer the boat sits it will depreciate more plus you take a chance of even having more boats on the market becuase of the economy today.

Tough choice. The plus side is that this is not a production type boat.

Me myself I would be hard pressed to sell the boat and I agree about kids today having some responsability but college is a big nut today.

This economy has everyone watching and sitting on edge.

Anyway I am sure Buzz will make the proper choice but right now I would be fishin it rather then typing about..

Best of luck with your choice.

This post edited by baywatch 01:36 PM 06/28/2008

 

[CaptWasserman]

hull price

have a 35ft t jason w all everything i mean full rigged. i will tell u to get a survey then less 35% most downeaster are for sale locally they have very little resale value anywear else... to fancey for the north they want a bare bones work boat and way to slaw for a southern boat and way to hot uless u have a gen and ac wich i would never own a boat without it...... my guess would be that u would have a hard time getting 60,000 for it yes it s almost new but like yours is for sale so is everyone else is........... best of luck

 

[gverb1219]

I wouldn't sell it unless it came down to the boat or my house.

I have 5 kids, 3 which went to college.

My daughter is in her junior year. If I had sold my boat or truck or bike or whatever.............it would be too hard to replace them later.

Each of my kids helped pay their way by working.

Of course, that gave them their living money and we picked up the tab for the tuition but, thats what credit unions and loans are for

Student loans are also a great way for them.

Certainly you must have known your son was going to go to college when you decided to build the 31...............................

Keep the boat...

....why take the beating your gonna get on it................to pay for what, maybe a couple years of the tuition

 

[Brenainn]

Scott1280 wrote:
Flukinicehole wrote:
Being a father and all, I often wonder why someone would sell something they worked so hard for, to send there kids to school? We all want whats best for our kids but keep the boat. Let your son take student loans (you can help him pay them off later). Do you ever have the family on the boat with you when you go out? My boss sold his 69 Vett to send his son to school and I told him the same thing. That was 4 years ago and his son dropped out and is now a plumber. Seriously think it over the loans are good

low interest and a tax write off. Keep the boat if you can and enjoy it with the family.
There is nothing wrong with starting life in the hole a little. My whole family did it and it taught us at a young age to appreciate what we work for.
I agree! Let him take advantage of all of the very low interest student loans and you can even help him pay them back. You may take more of a bath selling your boat than the interest on student loans would cost you in the long term, especially of you plan on buying another boat at some point in the future. Make sure you crunch all of your numbers before selling.

Good luck!

I agree with these guys, ya know. Obviously youd do anything for your kid, but where does it end? Thats your dream boat, keep it. I got 3 kids and cant pay for any of their college, im not going to re-mortgage and risk everything and start all over, nope, student loans, scholarships ect. Hopefully it will all work out, we'll see.

 

[nates]

Most things said are absolutly true,
My daughter just finished her 1st year at Sarah Lawrence College. At almost 71yo I sure don't have the were-with-all to pay the tuition, but with scholerships,student loans & her working it's doable.
The only thing I would suggest is to pay the intrest as it comes in instead of letting it acrew, & help as much as possible with the payments after ccollege & grad school is over.
Don't sell the boat

 

[seygrunt]

Dont sell the boat..

4 years active duty millitary. G.I. bill in hand and Army college fund to boot. Then National Guard when in School most states offer free college tuition to state schools or pay equal to state school in private schools. Serve his country and go to school what more could you ask for. And you get to keep your boat. 1-800-goarmy 1-800-goguard. You can find them on line too. Let him earn it...

 

[Cvis300]

Here's a father who wants to make a sacrifice to help his kid and you guys are making him to be a chump. I think he's a freakin' hero.

 

[Brenainn]

chump, no,..

hero, yes,.. tu: Ultimately its his decision, obviously some chump like me will never have to make that decision

And when that time comes he knows what its worth, whatever the buyer is willing to pay for it

 

[gverb1219]

Cvis300 wrote:
Here's a father who wants to make a sacrifice to help his kid and you guys are making him to be a chump. I think he's a freakin' hero.

Who's making him to be a chump.

Everyone here is telling him their experiences of going through pretty much the same thing without having to sell out.

There are alternatives when it comes to education.

Everyone one of us here would do ANYTHING we had to for our kids, but why sacrifice our dreamsand everything we worked so hard for when you really don't have to.

Use the education system............

, thats what it's there for.

And with the student loans programs, they don't start paying back until they become employed after graduating....

............so lighten up Cvis........