Liveaboard for sale with moorage!
With only four months left on our lease, Scott and I are checking out every liveaboard for sale right now. Just last weekend, Scott saw an ad in Craigslist for a 1991 Bayliner 4588 Motoryacht (I know….old!). But for kicks and giggles, we decided to check it out in person.
As you know, I work for Union Marine and I have access to some of the top marine experts in the industry. I asked one of our certified professional yacht brokers about the boat and the asking price. This model typically sells between $88,000 to $145,000. This couple was asking for $250,000! Whoa! Why so much? The owners said that the boat was meticulous and it came with moorage. That’s why we wanted to go view it.
It does come with private moorage and that’s what we are struggling to find. Most marinas in Seattle have a 3-5 year waitlist for boats over 50′. But what bank would ever loan an extra $100k over value?? None. Still, we were curious, so last Sunday we got a tour.
Attention to Detail
The current owners have lived on the boat for over three years. The boat was located in a private marina in Ballard. It offered secured parking, but that was it. No facilities at all. There were six other liveaboard boats on their docks.
The owner has upgraded the boat extensively and paid attention to every detail possible. This included new isinglass throughout, new carpet, new countertops and a very cool sink that was custom ordered from Europe.
Homey “vibe”
The boat definitely had a “homey vibe”. The master head had a tub, they had new carpet throughout, the galley had a large fridge and a large sofa in the salon. They also converted one of the state rooms into a closet.
Did we make an offer?
As nice as the boat was, it certainly wasn’t worth $250,000 by any means and no bank would give a loan for over $150,000 on it. One thing about boats (versus homes), is it is rare that you ever get back what you put into it. Appraisers care mostly about the integrity of the hull, age of the boat and hours on the engines (not fancy sinks or new carpet).
In addition, we are looking for a larger boat – ideally over 50′. Scott and I have discussed the idea of buying a “fixer upper” and mooring it at Elliott Bay, until we can find a liveaboard space. That is, if they have a 50’+ slip available. It’s all really a big game. Hopefully, something comes along in a few months. Luckily for us, my team at Lake Union Sea Ray is keeping an eye out for our next boat!
We did see this beauty on a walk last week though! The captain hit a metal buoy in the dark and amazingly he didn’t take on any water. A boatyard in Seattle is going to fix it up and sell it. Crazy!
Busy times ahead
The next 60 days will be crazy for me. Next week, I’m off to a marine dealer conference in Orlando, Florida, which I’m really excited about. Immersing myself into the marine industry and marketing is a dream come true for me! Then we have the Seattle Boat Show beginning on January 24, 2019 – February 2, 2019. I’ll be working everyday and I’ll also make sure to give a full tour of the show, as I did last year.
Thanks again for following us! Stay tuned for our next update!
Cheers, Scott and Ally
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That Bayliner is sweet!