Hi All,

I'm always looking for boats. I'm not ready to buy one yet but just for practice I imagine that I am and do my due diligence on a few that suit me.

What I've decided in my head is that my first boat will be a Tophat 25. That way I know that I can use the boat for whatever stage I get up to from bay cruising to offshore ventures like Norfolk Island or New Zealand.

I find the odd Tophat from now to then and sometimes they are in such a sad state that they are essentially a floating liability. I feel so sad imagining the fate of these boats that I try to find a way to get them into my custodianship now rather than later.

I found one recently and this is what state its in.

Mooring: Illegally Moored on someone else's mooring
Standing Rigging: Unknown date - uninsurable
Running Rigging: Present
Hull: Last antifoul 3 years ago with some osmosis present
Auxiliary: Space for outboard but none present
Insurance: None
Battery/Solar: None
Bilge Pump: None
Anchor Light: Existing but not wired up/None
Nav: None
Safety: None
Sails: Main in bag on boom, headsail below (hanked on type)

The boat is for sale for $2000 odd dollars and deep down I want to offer him $1 to take the financial liability off of him and spend about 5k installing basic nav lights and bilge pump with osmosis repair / gelcoat repair / antifoul. Id purchase a high thrust outboard with alternator and sail the boat once a month or so for pleasure. I've got a swing mooring ready to go. First I would purchase the high thrust outboard and use a good friend of mine to get it onboard then Id motor over to Pelican Slipways and get the rigging and hull sorted so she can be insured. Then id head over to my mooring and feel good that I've got the boat that I want to start my sailing life.

Has anyone had this same experience and gone ahead with it? Ultimately Id love to share this with someone else to share the financial burden and also enjoy some stewardship.

+1 for JonE's comments. Even reasonably decent Tophats go very cheaply. Hold your horses and look around.

Last month it was a C28, now you're interested in a TopHat. Smaller, more responsive, more like a dinghy than a large yacht, smaller budget, smaller maintenance schedule, etc etc.
My concern is how often you used the terminology about dreaming, imagining and thinking, and how you expect that a seller will accept one dollar for a $2 000 yacht. No seller will do that, because they know if you don't have the money, you won't have the commitment, and it'll end up being their burden again if you shoot through.

You need cash on hand for the yacht, mooring, fees, motor, rigging, etc as mentioned. If you don't have the cash on hand right now, it'll end up being a derelict, strung-out exercise, $50 this week, $100 next fortnight, etc and it'll rot before you sail it.

A glitch.
When writing I saw 2 entries of my post

Hi Tri Hike.
How much free time do you have?
Are you married with kids?
Do you have a job that will allow you to spend every weekend for the next two years on a boat project?
Time is a real factor here.

RE: . First I would purchase the high thrust outboard and use a good friend of mine to get it onboard then Id motor over to Pelican Slipways and get the rigging and hull sorted so she can be insured.

Every day in a yard is time. But in that case the time converts to money really quickly.
If you have the boat in a yard and can only work on it one day a week, you will run up a huge bill before you know it.
The alternative is to use your time to work and save money. Then use the money to buy a boat in good condition and with the gear to get you on the water.
Time?
Money?
I would suggest working your ar#e off and saving like crazy.That means instant coffee!!
On top of that find someone with a boat that you can sail on when you have the TIME.
Then when you have the money (Not a $1 boat) put it into a good sound boat and sail as you prepare for the next step.

gary