Is Your Boat Worth Upgrading?
This is the $64,000 question, and it is seldom easily answered. Some pundit long ago said that owning a boat is like standing in a cold shower tearing up $50 bills, and he was probably talking about a new boat, never mind a ten- or twenty-year-old boat! At what point do you stop the bleeding, sell, and look for a different boat?
Well, having upgraded a lot of older boats, Ive given this question some serious thought. While maintaining and upgrading the C&C 33 and Tartan 44 we used as test boats at Practical Sailor magazine, detailed records were kept of costs and man-hours. The short answer, I think, is that a boat is not worth upgrading when the cost to get it sea-ready exceeds resale value. Why throw good money after bad? But three are other considerations. Many of the old, classic designs are no longer made. Take the Vanguard, designed by Phil Rhodes and built by Pearson Yachts during the 1960s. You wont find its beautiful sheer on any modern boat. Say you can buy a 1966 model for $18,000; you could easily spend $25,000 repowering, re-rigging, and installing new electronics and safety gear. Now youve got $43,000 invested. You cruise it for five years and then sell it for – what? Maybe your original $18,000, if youre lucky? So the boat cost you $5,000 for each year of operation – but if it made you happy, who cares?!
For additional advice and information on ways to upgrade cruising sailboat, purchase Spurr’s Guide to Upgrading Your Cruising Sailboat today!
