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Cost new - Down East 38
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Leo Uhran
Port St Lucie Fla
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February 18, 1925 - 9:51 am
Member Since: December 5, 2018
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I have researched and researched and can't find any sales documentation that posts a sales cost for a brandy new 1977 DE 38 cutter back in the day.

Does anyone know? I'm just curious.

If I were to estimate a cost to sell my 1977 what do think a fair starting price could be? Keep in mind, my boat is now 98% totally restored, everything new. The only outstanding items to complete is an electric head, water heater and water tank replacement. My survey at purchase valued the boat at $48,000.00 Before finishing the decks, Re-model of the head and V-berth.

 

The  1980 Pearson 365 ketch I owned … w/ the sail  package delivered at $102,000.00

All the original documentation was still with the boat from the 1st owner when I bought her.

 

Leo

SV Paper Moon

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bobmcd625
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April 13, 1925 - 3:11 am
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Nice job.  Really looks sweet.  Why don't you post some more of the details of your upgrades.

I can't say what they cost back in the 70's but there is one for sale now in the SF Bay area for $85,000 after a reported $150,000 spent on refurbishing.

See this website...

http://rubiconyachts.com/yacht.....id=7659187

I have seen this boat in person and she is really top notch in every respect.  Let's face it, these boats are not an investment.  

Good luck...

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Scott Carle
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April 15, 1925 - 4:38 am
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If your lucky and have a full suite of new electronics etc as well as fully refurbished, new paint, engine rigging, sails etc..  you might push to 60ish in my opinion old used boats just don't hold value great. It's sad as to have one built with the teak interior and standard of construction today I bet it would cost an easy 750,000 for a new boat.

scott

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Scott Carle DE38 Cutter s/v Valkyr
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Leo Uhran
Port St Lucie Fla
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April 16, 1925 - 10:01 am
Member Since: December 5, 2018
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bobmcd625 said
Nice job.  Really looks sweet.  Why don't you post some more of the details of your upgrades.

I can't say what they cost back in the 70's but there is one for sale now in the SF Bay area for $85,000 after a reported $150,000 spent on refurbishing.

See this website...

http://rubiconyachts.com/yacht.....id=7659187

I have seen this boat in person and she is really top notch in every respect.  Let's face it, these boats are not an investment.  

Good luck...

  

Thanks Bob.

Mines not for sale.  I just wanted to compare the NEW cost to the Pearson 365 which was 102k in 1980. I actually talked to the broker at Rubicon when I saw that boat.  He was kinda snobbish like it was a waste of his time at 85k and the owner was wasting his time trying to get that much. I know they're NOT an investment.

My slip neighbor had a 1973/4 Scheel 45 (only 9 built, this one was absolutely bristol in and out) and told me in '74 that boat was mid 160K new. He sold it to a woman for 35k who contracted with Mack Sails for an 85k refit right out of the gate after purchase.

I'm trying to understand why mid 50-60ft sailing yachts here in south Florida (Palm beaches to Miami) ranging in age from between 1973 - 1980 are up in the 275k -375k range. And, they are selling. And, boats like ours even 100% refit/restored  only get BUC value like an old used car. The only thing I can think is at that length / beam they're like little condo's and people can get that much for them, thats got to be 90% of original cost. Granted these vessels are 100% refit. Granted a brand new 2021 - 60ft would be over 7-800k to a mil+.

Cheers

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weswsimpson
Tucson Az
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April 16, 1925 - 10:52 am
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I have the original invoice for my '76 DE 38 cutter with a purchase price of $50K which equates to $260K in today's dollars (with inflation).

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Leo Uhran
Port St Lucie Fla
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April 16, 1925 - 11:18 pm
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Great! Thanks for that info. I'm shocked the Downeast was that much less than a comparable Pearson. I think the Pearson base in the earlier years was around 75k. The surveyor placed my '77 DE vessel at $48k (96% of new) with a replacement cost at $380k,

So its starting to make sense to me why a refit/restored 60ft from 1973 era is asking 375k, that's probably close to 100% of the original value. And, of course if it were new 2021 model it would be upwards to a million.

 

Thanks

Leo

SV Paper Moon

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Scott Carle
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April 19, 1925 - 12:08 am
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I think something you have to look at is for every boat in the larger size range there are 30 boats built in our size range. So there are less of the larger boats making them more valuable. The next thing is that most of us have looked at the larger boats but known realistically that we couldn't even afford to do the maintenance on them or operate them, or afford slip fees for that large of a boat. This puts those boats firmly in the sights of  people that live in a much higher income bracket than most of us. For someone in that income bracket an older 60ft boat at 200 or even 300K is an absolute steal compared to a new one at 1 to 2 million dollars 🙂

Honestly I think it is a totally separate market compared to our 32/38 ft boats. Look at the De45's Their prices are significantly higher than the 38's for an extra 7 ft of length.

scott

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Scott Carle DE38 Cutter s/v Valkyr
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Leo Uhran
Port St Lucie Fla
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April 19, 1925 - 1:05 am
Member Since: December 5, 2018
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Interesting thought Scott.

You're probably right. I've asked brokers why this is and they don't really give an answer other than If you can't afford a new 700k maybe you should be looking at older at half the price. Its all about the money.

 

Different subject.. if you part out Valkyr.

Are your trail boards mechanically attached (can be removed) or molded into the hull?

I also noticed your Nav table is wood, mines laminated. I'd like to replace that.

Do you have the U shape settee to port and a wood dinette? this is also laminated in mine. My wife hates it.

Leo

SV Paper Moon

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Scott Carle
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April 19, 1925 - 5:34 pm
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trail boards are attached with screws to the best of my knowledge 🙂
yes nav table is wood
do not have u shape settee and the table is laminated in our boat. Actually I took it out years ago. Think table is sitting in a shed already... kept it in case I ever wanted to put it back in. We really didn't like the color of the stock laminate in the galley, salon table, shelves, bathroom or vberth. Used one of the new laminate paints and painted it all white. Have never regretted it. Made a lot of difference and was a easy and relatively inexpensive project.

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Scott Carle DE38 Cutter s/v Valkyr
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Leo Uhran
Port St Lucie Fla
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April 15, 2021 - 2:37 pm
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Keep me up on what you are going to end up doing with Valkyr.

I would purchase those trail boards from you. Consider what you would want for them.

Thanks

Leo - SV Paper Moon

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