By Jim Baugh
Reporting from the Fly Bridge.
Sportsmans Magazine Feb. 2003 issue
I do not think I have ever enjoyed or used a boat as much as the old 36 Trojan
Tri-Cabin. Just about everyone who comes aboard does not want to get off the
boat. The interior of this vessel is truly stunning. Some of the richest and
most beautiful teak you will ever see flows though the boat. Trojan Boats
were manufactured with meticulous craftsmanship by Amish carpenters in Pennsylvania
Dutch Country, the first home of the Trojan boat company. Trojan was founded
by Jim McQueen and Harper Hull, formerly with Owens Boats. Trojan began it's
operations in York PA in an old dairy barn, then later moved operations to
Lanchester PA. Utilizing the strong Amish work force was one key to Trojan's
manufacturing success.
This you will not believe, however true! On the back of the interior teak
sections, there is a number with an initial engraved in the wood. This represented
the name of the person and the shift that did the work on the boat. This way
when warranty issues would arise, the company would know exactly which person
and what shift did the work!
Do you think for one moment that type of quality control exists in today's
boat manufacturing?
Some of my boating buddies think it is mentally rooted in my subconscious because my father had one of these boats when I was a kid. Well, I do not think that is the case. Sitting here a top of the flybridge looking at the beautiful Hampton waterfront, I began to realize all the many reasons why the Tri-Cabin is such a wonderful design. Now, all mariners and fisherman love to talk about their boats, and at first, one might think that my love for the Trojan might be due to her pristine new shiny hull and extended warranty, right? Not exactly, the warranty ran out on this boat way before my children were born, before I even met my wife 24 years ago! Yes, that is right, the boat that I am sitting on is over 29 years old! For those folks who may not have a lot of experience in boating may wonder at my purchasing decision, which brings me to this month's topic.
What are the benefits of buying a new boat?
It is boat show season, and thousands of people will be heading to many, many boating and fishing shows all looking at the beautiful new line of boats. Ahhh, the gleaming gell coat hull with 2000 watts of light shining on her, fresh smelling carpet, those cool steps and elevated walkways that are made just so you can get on the boat for a looksee, and boat salesmen touting the best price and a warranty that will cover everything including the galley sink. Sound familiar? Is purchasing one of those shiny new boats a good idea? Is it just all about purchase price? Shouldn't I only buy a boat that is new, because everything will work, and I will get that wonderful warranty? What the heck is a marine survey?
Some Insight
The general public has a fascination with purchasing new products, it is a very American Ideal. However purchasing something new like a car, or a house, is a lot different than purchasing a new boat. A boat is unlike any other product you will purchase. Boats by their very nature have to exist in an extremely harsh environment and are subject to massive beatings. Your new car, house or RV does not sit in a highly corrosive environment like salt water, nor will they ever have to take a pounding five foot sea for hours at a time, AND last for 10, 20, 30, 40, 50 years!! Purchasing a boat should involve a lot of research on the part of the buyer, more so than any other purchase one will make in a lifetime.
Buying a new boat can be a very good idea. Should one need a custom boat built for fishing or long range cruising, a custom built new boat might be a good way to go. If a custom built Carolina Sportfishing yacht is what you need, or maybe an extra large dead rise for the Bay, then there might be a sound reason for paying the price to have something built especially for your needs. Custom built boats generally will allow for a variety special designs that are not usually found in production models. These "made to order" vessels are hand crafted, and built by master craftsmen. These boat builders may only produce few boats a year and some builders may only produce one in 15 months. I remember years ago when I did a story on Tiffany Cockrell of Tiffany Yachts. The pinnacle of custom boat building, master craftsmanship at it's finest and you get what you order.
The large majority of boats sold are not custom yachts, they are something called production boats. These boats are built assembly line style and range from bass boats to large offshore fishing boats. Many popular boat builders can build anywhere from 250 to over 1000 entry to mid level boats in a year. Most of these boats are the popular boats that you will see at the various boat shows during trade show season. Certainly a lot of happy owners of new boats have had no problems with their new boat purchases, however the most common reasons for buying a new boat are largely myths.
Here are some typical boat buying questions, and a few boat purchasing tips as well.
"I want to buy a new boat because everything will work, and it is covered under warranty, right?"
Did you know that for many boats, it is a good idea to actually have a survey done on a new boat before it is even purchased? I have seen a brand new fishing boat in the $150,000 price range sinking at the dock. I know of a very popular top name expensive new $200,000 fishing boat that had the boat been surveyed before being put in the water, may not have sunk! When you look at that new boat at the show, instead of what frills the Salon has, you should look at where the drain holes are for the live wells and bilge pumps. Are they only an inch or so above the waterline? Are they those cheap plastic through hull fillings that break easily and will sink your boat? When the salesman tells you what great quality their boat is and why you should pay for it, ask him why does the boat not have Brass through hull fittings. You will enjoy the answer as the salesmen begin to tell you that it does not make a difference. I doubt he will be around to "bail you out" if and when the time comes.
The nice benefit about purchasing a new boat is the security in knowing the boat will have a warranty. Spend time to review the warranty with the sales rep. to insure that there are no surprises in what is covered under the warranty agreement.
"I want to buy a new boat because, just look at that fiberglass, it has that shiny gel coat! Surely buying new fiberglass is smarter than buying older aged glass, right? Wouldn't I get longer life out of my new glass hull?"
The fact about fiberglass is that due to the curing process, some structural issues may not show up until five to eight years down the road. For the very, very few boats that would encounter fiberglass problems the hope is that the boat manufacturer would fix or replace the boat under warranty. Boat manufacturers are of course concerned about their reputations of building quality products and standing by them. For example companies have fixed boats out of warranty at no charge to the customer just to protect their name. These are the kinds of companies you would like to consider buying a boat from.
If you are planning to take the used boat route, look for a boat that is at least five to ten years of age, get a great marine surveyor, inspect the hull carefully and then make your decision. The truth is that an older boat that does not have any structural fiberglass issues, most likely will continue to not have any.
"Don't used boats, and boat restoration cost a lot of money and time? I think I would rather just buy a new one"
This is a good reason to purchase a new boat. Chances are there will be fewer maintenance issues with a new boat. Hopefully whatever problems arise, will be covered under warranty. Here is some insight to new boat cost versus restoring or fixing deferred maintenance on a used boat.
Let me tell you the story of my friend who shall remain nameless, and I will change the figures just slightly so he will not know I am talking about his boat purchase. My buddy bought a new boat for 1 million dollars. I checked the Internet for the same boat only 24 months old, the asking price was around $450,000. This loss in value, or "New Boat Depreciation" equates to throwing over 22 thousand dollars out your window every month for two years. Makes you shiver, doesn't it? I only wish I had that kind of money to waste.
Although my buddy may have bucks to burn; I do not, nor does the vast majority of the boat buying public. The new boat you are looking at may be a 30 foot walkaround, with an asking price of $170,000 Take a moment and look at what the same boat sells for that is just five years of age. You may be surprised to find the cost to purchase the same boat has decreased as much as 50% of the original purchase price. Take a look at the figures before you buy and you may be surprised at the difference in cost. $120 grand difference would surely pay for a lot of minor repairs on a used boat. Do you think you would have a balance left over after the restoration?
"Sounds like buying a used boat could be the answer, just look at all that money I will save, right?"
Purchasing a used boat that needs a fair amount of refurbishing can be somewhat risky. The buyer has to be aware of the fair market value of the used boat in good condition. The budget to purchase and restore the used boat should not exceed book value of the vessel. Over spending on a boat restoration is fine however chances are you will not get back all of the money put into the boat at resale.
A good general rule of thumb in boat restoration is to figure on half the purchase price of a new boat. If a new boat cost $100,000 one should be able to purchase a used model and fix or refurbish the problems that show up in a survey and still come in around $50,000. The biggest mistake that people make in buying used boats is not allowing enough time and financial investment to properly restore the boat. This leads to the continuation of deferred maintenance of which is passed on to the next buyer.
With jobs, kids and the crazy schedules we all have, carefully planning how much time can be spent working on your boat is essential. If you do not have the time, buy a new boat! It will be worth the money and you can enjoy it immediately.
"Survey? What exactly is a survey? How do I know if I need one?
Similar to home surveyors, a marine surveyor is contracted by the buyer to
fully inspect your boat prior to purchase. When financing is involved most
banks will require a marine survey on a used boat to indicate the value and
condition of the vessel.
A typical new boat purchase usually does not involve a marine surveyor. In
the case of larger yachts and custom built boats with many complex onboard
systems, the buyer will often contract a marine surveyor to inspect the boat
before it is put in the water.
Reasons to have a new boat surveyed include boats that have less then a full five-year hull warranty, and boats with inboard outboard power plants.
"If I buy a new boat, I get new engines, right? Can I choose the power?"
This is usually the case, and probably the best reason for purchasing a new
boat. Unlike a quality boat that may last 50 or 60 years, engines will need
to be replaced at some point in a boats life, sometimes more than once. New
engines are the strongest benefit for purchasing a new boat, and chances are
the power plant is built a lot better comparatively than the boat is.
The advent of the new four-stroke outboard technology has been a great blessing
for the boat buyer. Our experience in using the Suzuki four stokes has been
one of great joy. If you are looking for a new boat that is powered by outboards,
consider getting the four strokes. You will be glad you did.
Sometimes the new boat buyer can be fooled into purchasing a new boat with a packaged refurbished engine. Make sure, and you get in writing, that your power plant is not B stock, or last years model that had warranty issues that is now being sold as new. There really should not be anything wrong with purchasing a B stock engine, as long as the price reflects your purchase, and the buyer is aware of the engines history.
Getting the type of power plant that you want on your new boat may not be that easy. Many boats today come pre packaged with the power plant already figured into the deal. Some dealers will swap out power however you can expect to pay additionally for the service. Experienced boat buyers will usually purchase the engines separately and have the boat rigged the way they want either from the dealer or a marine specialist. When considering your new boat purchase either look for four stoke outboard engines or an inboard power plant.
"I do not have time to research everything that is required to find a good used boat"
You will spend less time shopping for a new or used boat if you spend your time efficiently. This is where the Internet can help in a big way. Yachtworld.com has become my new TV set, because I watch it all the time. There is hardly a day that goes buy that I do not surf that site. There are many other good sites on the net, Yachtworld is just easily laid out, has just about all the info you will need to research your favorite boat weather it be new or used.
Be prepared and thoroughly shop the boats you are interested in using the Internet as well as regional and local boat magazines. Once you get to the boat shows, you can then narrow down your selection rather quickly.
"Out of all the boat shows I have been too, this
one has the boat I have always been looking for! This baby is going to be
mine, just wait till the neighbors see this in my driveway! Here is
the check!!"
Ahhh, the favorite words spoken that will make every boat salesman smile
like a Labrador in a Frisbee Factory.
That is just fine, you have fallen in love with that boat, the wife loves
it, the kids are crazy about it, the price is right, buy it!! Right after
you take a ride in it. Do not ever buy a boat that you have not had a sea
trail in. One other great tip regarding a new boat purchase, look and see
how much vinyl seating there is that will be exposed to the elements. This
is a big factor in pleasure cruisers. You know the ones with all that sexy
seating wrapped around the stern of the boat. Would you like to guess what
that material will look like after 12 months of exposure? Through a little
rain water into the mix, and you will begin to understand why some boats can
depreciate so quickly.
"Is it just plain crazy to purchase a new boat?"
Absolutely not! There are many boat owners who will swear that it is the
only way to go. There are some great new boats that are being built, and chances
are that you will have few problems with a new boat purchase.
REMEMBER THIS!!
It would be wiser to purchase a quality new boat, rather then to purchase
an older used boat with deferred maintenance, then not commit to taking the
time and investment to refurbish and maintain the used boat.
The bottom line on purchasing a new boat:
Should the deal be right, it is a quality product with a solid reputation,
strong warranty, and the boat has had a sea trail, Buy it!!
The bottom line on purchasing a used boat:
If you want to invest maybe half the purchase price of what a new boat would
cost, have researched the boat history and manufacture, have had an excellent
qualified surveyor inspect the boat, can get the boat at the right price,
and most importantly, take the time needed to refurbish and fix the deferred
maintenance, then buy the used boat!!
I can not make this point strong enough, if you do not have time to properly fix the deferred maintenance on a used boat, believe me, you are much better off buying a new one.
Weather one buy's new or used be glad of one thing, you are buying a boat!
Sure beats yard work!!!
Here is one additional FREE tip, if you are going to lay down those BIG BUCKS for that new boat purchase, get ready to lay down that huge personal property tax money that will be due at the end of the year. Or you could keep your boat on the beautiful Hampton VA waterfront like I do, where the city did away with personal property tax on boats. Weather you are purchasing a new, or used boat, THAT is a good thing to know. Just one of the many great reasons to get hooked on Hampton. VA
For additional information on pre purchase boating tips, just visit our website at www.jimbaughoutdoors.com. Look on our main page for the "buying a used boat" link.
I do love to go to boat shows, and will be at the Richmond VA show Feb. 21 & 22. Please stop by the Hampton VA booth for a visit, there are few things that I enjoy more than talking about boats with boat owners.
Look forward to seeing everyone then!
Wishing everyone light South West winds,
Jim Baugh.
Jim Baugh Outdoors Television Series
Jim Baugh Tournaments, LLC
Sponsored By
Suzuki Marine, Boaters World, Hampton Convention and Visitors Bureau, Virginia
Tourism, The Radisson Hotel Hampton, Venture Inn 2 Charters, Sunset Boating
Center, Hampton Public Piers, and Reel Jacket
Look for Jim Baugh Outdoors 2003 new programs on The Outdoor Channel. Programs
can also be streamed from www.jimbaughoutdoors.com all year. DVD's can be
ordered from the JBO web site.
