PDA

View Full Version : What's It Worth?



walberts
06-01-2005, 09:03 AM
I bought Haabet (Ariel #133) in 2002. She was listed in Soundings for several months. The owner was asking $12,000 initially, and after 3 months came down to $10,500. I bought her for $9,500.

The boat had been in his family since 1963. In 1999, the son began a restoration project. He had Haabet professionally awlgripped at a yard in Rowayton, CT. ($6,000!) He added Shaeffer roller furling ($3,000) and replaced the lexan in the cabin portlights. He added an Autohelm autopilot and a new North main sail. He added a new Raritan head and plumbed it well. He upgraded the electrical panel and did it simply and well.

He added a bow roller and a Nicro solar vent for the anchor locker. He had all the old chrome fittings re-plated and added well-backed over-sized cleats, bow and stern. He added a new dodger in 2000. A former shop-teacher, he built a new rudder to original specs. He was also into bright work and kept all Haabet's mahogany and teak in pristine condition. He had rebedded the fittings as they needed it over the years, and as a result, the surveyor found no spongy decks, no delamination and no blistering. The hull and decks were completely sound.

Her engine is a 1993 Merc 9.9 with electric start and an alternator. He had records showing that he had the engine professionially winterized each year. He also had records on all maintainance. It worked and still works reliably.

If you ask the obvious question: Why did he sell her? The answer very commonplace: Love. He married a woman with a teen-aged daughter and Haabet was not big enough for them to cruise in as a family. That was important to them and they couldn't justify the time and money necessary to keep two boats. It was a hard decision, but they made it. They bought a brand new Sabre 38 and sold the old family Ariel.

I was inwardly excited about the boat, but there was one thing that I didn't like ... the outboard engine in the well. I had diesel on the brain, and that was holding me back. Then the vibe-factor kicked in.

The summer before, I had had the opportunity to sail from Denmark up the coast of Norway for 5 weeks with 3 excellent, very experienced sailors who also were great shipmates. I got to sail past 70 degrees North and see a beautiful country, learning all the time. To me, being asked to make that trip was like sailing with the Beatles. It was as if John or Paul had said, "Hey kid, do you want to tour with the band for 5 weeks?" I said "yes" before it gave a moment of thought. The boat was "Brendan's Isle." (If you are interested in seeing her, go to myronarms.com and you will get an idea.) Anyway, it was a once-in-a-lifetime experience that I will always remember. When we were in Bergen, I bought a canvas cap with a Norwegian flag on it.

Eight months later, when I drove to CT to see Haabet for the first time and to meet her owner, I was wearing that cap. After the test sail, I was talking to the owner at the dock. I asked him what "Haabet" meant. I had wondered about the name ... secretly, I didn't particularly like it. He explained that his father had bought her in 1963 and named her after his Norwegian bride. "Haabet," he explained, "is a common Norwegian name. It means 'Hope'."
He then added, "I was going to ask you why you were wearing a hat with a Norwegian flag on it."

I had spent 4 years searching for a boat. Searching, dreaming and saving. During that time, I had advice from many quarters. Some of that advice is worth sharing. Ben Gray who was one of the crew from the Norwegian trip said: "Buy a boat for what you do four fifths of the time. Don't buy a Westsail 32 if you're going to cruise on the Chesapeake."

Regarding photos of boats on the Internet, John Griffiths, a boat surveyor and owner of "Kestrel," Ariel hull #1 said, "You haven't seen it until you've seen it."

Mike Arms, the owner of "Brendan's Isle" added this comment, (and I think it is the most important): "You don't buy the boat, you buy the owner."

These pieces of advice stood me in good stead. To them I'd add, "Don't discount the vibe-factor."

I bought Haabet.

I've watched the market and it is clear that I paid top dollar for my boat. But, this is also clear ... she was worth every penny.

Bill Alberts

PS
After some discussion, my wife and I decided that we would not change Haabet's name. I thought that her previous owner would want to know that. I emailed him the information. Later, he wrote back and said that when he told his 91 year old father that Haabet's name would not be changed, he wept.

Vibe-factor ... There are things you can't buy.

c_amos
06-01-2005, 09:29 AM
Bill,


PS
After some discussion, my wife and I decided that we would not change Haabet's name. I thought that her previous owner would want to know that. I emailed him the information. Later, he wrote back and said that when he told his 91 year old father that Haabet's name would not be changed, he wept.

Vibe-factor ... There are things you can't buy.
Beautiful.


And to answer the question........


What's It Worth? (http://www.pearsonariel.org/discussion/showthread.php?p=9435#post9435) Priceless. http://www.pearsonariel.org/discussion/images/smilies/smile.gif











































But if you pinned me down, I would say that the $9,500 sounds like a good price for the excellent example you describe.

frank durant
06-01-2005, 09:32 AM
Cool story My view is simple and I have expressed it before...buy a $1000 ariel with bad decks and put THOUSANDS into it along with hundreds (or more) hours of work BEFORE the engine , sails , dodger etc ...OR buy a good one and customize it to your tastes and GO SAILING ! You did not pay too much. I paid $6500 for revival...it had good sails and recored decks and a fresh awlgrip paint job BEFORE I gutted the interior,dodger,bimini.engine,new cushions,seacocks etc.etc.I will end up with $11-12000 into it BUT I will know every nook and cranny....well worth the money spent in my books for a great little offshore capable sail boat !! You did great for what you got BEFORE the "vibe factor" Good for you...enjoy

Mike Goodwin
06-01-2005, 10:06 AM
As I have said many times before , I recieved #45 in lieu of a $600 debt and that is about all she was worth, dollar wise .
It seems to be my lot to bring em back from the brink , my Ariel "spirit" #45 , my 27' St.Pierre dory and my 23' Thomas Gilmer yawl "Blue Moon" are my favorites and all were one step from the scrap heap .
I paid $3500 for Blue Moon in 1978 , that was the yard bill including the new Volvo diesel .
I enjoy a boat more if I have "sweat equity" and quite frankly could never afford the new boats that I liked, Hinkley Bermuda 40 , Southern Cross 39 to name a couple.

Some folks don't have time or the skills to do what I do or don't enjoy it. I just signed on the restoration of a 1948 Mathews sedan crusier .

and I spent the last 2 years building this girl;

frank durant
06-01-2005, 12:54 PM
Beautiful boat mike...you must be very proud !! I couldn't agree more that one enjoys a boat more with 'sweat equity' in it ! It is the persoal touchs and modifications that make it "your boat". There is also a safety factor built in because you KNOW your boat and systems intimently and can trouble shoot quickly. At this time I have over 200 hours into #50 and will have another 40-60 yet this fall , along with $4-5000 additional...and that was with a boat that already had recored decks and been painted !! My cautions about "cheap boats with bad decks etc" is most people don't know how much time AND money it takes to restore a boat . Soon that "bargain" has turned into a nightmare that seems a bottomless pit of time,money and FRUSTRATIONS....soon the dream becomes ..well , as I said ..a nightmare. I have seen it often. My comments are not toward you..obviously an expirienced restorer , but rather the newbie thinking the $1000 boat is a 'bargain'. Thats why I think sirrocco and Haabet were "relative" bargains for their condition and inventory. PS..I agree 100% on the Hinkley Bermuda 40...my personal dream boat

ebb
06-01-2005, 05:51 PM
Bill Alberts,
That's a great story, I can hardly see the keys here cause of the water in me eyes. You did whhaaay good on a quality boat, a well loved boat. Good karma. What's its worth? You said it!

Those double aa's the scandahovians pronounce as a deep wide 'awe' My surname, they have so much fun pronouncing the 'awe' that they drop the remainder of the letters.

Haabet, then, has a sound friend in 'hobbit', some may think you mean that, and it's not a bad name for an Ariel either.

On BoatQuest.com there's a 1906 59' (18' bowsprit) Baltic Trader that's gone thru a 40 year restoration! And now it's for sale! Also find it on the www.oldgaffersassociation.org site. [Hit 'Contents' then 'For Sale Page One']

Named 'Haabet'

Tony G
06-02-2005, 08:37 AM
...they are nice...

ebb
06-02-2005, 09:36 AM
Tony, take a look at the real ones!
Not that that vessel there wouldn't be nice to smell anyway!
Those guys are restoring 100 year old boats!!
There's a pretty little 24 footer For Sale on Page One.
There's something about a gaff rig that gets me right in the solarplexis.

Ariel with a gaff main, two head sails and a ten foot sprit. wow! ;)

eric (deceased)
06-03-2005, 05:51 PM
if you get to do with your boat what I did with mine,that cant be replaced by all the money in the world