Just wondering what everyones break even point is on getting a survey before buying?

With my current boat, I didn't bother getting a survey beforehand, as it had been a mooring minder and the purchase price was lower than the cost to slip (let alone survey). I had a mate who was willing to buy the sails for the same price anyways, so wasn't at any risk even if I'd ended up with an absolute wreck.

This is all pretty obvious when you think about boats in the sub $1000 range, but if you were buying a cheap boat, where would you draw the line and insist on a survey before purchase? $5000? $10000?

I have purchased and sold 6 boats ranging from 5k to 160k in the last 10 years. All have been as is sales except for a diesel sports cruiser.

The one survey I had I was bitterly disappointed with, it picked up nothing I had not found myself and was akin to paying someone 600 bucks to take some photos and check switches and valves work. If I did not need it for insurance I would not bother again ever. I would spend the money on getting a trusted shipwright and mechanic to give an opinion on the boat and put the money towards anti foul and engine service etc.

+1 on the comments about the cheapest boat being one that someone else has fixed up.

I'm sure there are good surveyors somewhere, but the bloke who surveyed mine for the PO a few months before I bought it missed some potentially very significant problems. Basically said it looked nice.

RE the lowest price that justifies a survey, unless you need it for insurance (which implies a somewhat higher price) you might be better off asking one or two knowledgeable blokes to come with you on the inspection. Maybe offer them an incentive (the liquid variety is popular).

Cheers, Graeme

Planeray said..

boty said...
no such thing as a cheap boat if you dont know a lot about what your looking at pay someone who does scares the daylights out of me when someone says i havnt paid much for it wont cost much to fix it up
the cheapest boat is one someone else has restored

Well, purchase price on mine was $365. The value of the thing triples when I step on board, based just on what's in my pockets

Ad it happens, I actually did get a survey done AFTER buying it, but only because I was getting it hauled anyway for antifoul. Just didn't make sense to get it hauled, surveyed, put back in, then pulled out again to be painted.

Dunno if it says something about the more handshake nature of the cheap end of things here, but could anyone imagine the sort of conditional on good survey contact that yanks get happening here?

that does sound amazingly cheap