Gorgeous Princess could be a deal!

[Insequent]

Well, its no trawler but still looks pretty nice. And the price could be a great deal!

https://yachthub.com/list/boats-for-sale/used/power-boats/princess-p57/248370

But. Its been sitting in a shed for 8 years. Undercover but in a hot humid climate. Apparently it was a Police seizure (proceeds of crime or something) and now the court processes have been finalised the boat is for sale. It was likely 'rode hard and put away wet' as the saying goes. Just parked in the shed and locked up back in 2012.

Since its an auction its 'as is, where is' sale terms. No survey reports or sea trial available or possible.

To me the crux is: what are a pair of Volvo D12's going to be like now? Assume no fogging, no blocking of air intakes. So possible rust in inlet side of turbo and I would guess at least one valve was open so 1 or more cylinders could also have rust. But is this a big deal? Remove air cleaner and injectors, squirt in some lubricant, manually turn engine over a day or two later. Then fire up. No? Anyone have experience with this kind of engine situation?

 

[JLD]

Can't help with the engine questions.

Read the post, went to the link thinking this boat was going to look like crap after being on the hard and not maintained for 8 years. On the contrary, it looks like a VERY nice boat!

Jim

 

[PM]

That is, or was a nice boat. There is NO WAY I would even consider it at half of that listed price. Engines or at least turbos would need a lot of work, expensive work. Fuel must be drained, all electronics are obsolete, batteries replaced, mold abatement. all soft surfaces probably need replacing. The list goes on and on into BIG boating bucks!

pete

 

[rgano]

That is, or was a nice boat. There is NO WAY I would even consider it at half of that listed price. Engines or at least turbos would need a lot of work, expensive work. Fuel must be drained, all electronics are obsolete, batteries replaced, mold abatement. all soft surfaces probably need replacing. The list goes on and on into BIG boating bucks!

pete

An Euro styling

 

[koliver]

An Euro styling

Inside styling looks similar to Maritimo, another good quality Aussi brand. If those pictures are recent, in VG condition. Take your mechanic and have the engines checked out. Likely as clean inside as out (recent pictures presumed).

 

[bayview]

looked very nice until i noticed the bubbling wall covering on the left side of the PIX showing the stairs. Then several cans with blue tops of deodorant or damp rid.

Would have to see it .

 

[rsn48]

Its the engines that are the big deal as you have surmised. An unused engine(s) is not a good thing. The one plus going for this boat is I presume it has been on the hard all this time, covered. I would confirm this. If I were to purchase this boat, before it even hit the water I'd have a rebuild carried out. New hoses, belts, etc and all tanks drained, cleaned and some of them purified.

A good friend of mine bought a Bayliner 3888 that had sank for whatever reason and he purchased after the sinking. He did put a fair bit of money into but ended up with a very nice vessel that has gone on 15 + years serving him well.

The question you need to ask yourself is do I have serious money set aside to rehabilitate this vessel. If the purchase price is taking you to the tippy toes of your financial existence, then don't get it.

 

[bayview]

Cleaning the tanks is important. But before doing any engine work. Bar them over to make sure they are free then see how they run. Cranking a bit with fuel off will move oil up a bit.
Probably need new batteries but try charging what's there. what you wan is a running test, and a sea trial to see where you are.

I wouldn't be surprised if the engines are fine but replacing stuff before you know doesn't make sense to me.

 

[BandB]

I wouldn't consider it at more than $100,000 and even then would have to see it first. You mentioned potential engine issues and you could have similar with all equipment. In addition, I know many Princess's in which the boat has aged very poorly, including one taken about a year ago to Central America and now experiencing cracks in it's Gelcoat. Princess's have been notorious for leaks and for issues developing with interiors.

I think of the outdated electronics and then thrusters and hydraulics. Refrigerators, freezers, dishwashers, washing machine, I'd think major issues. No sign of stabilizers and it definitely needs them.

Upon inspection, it might surprise, but my initial thoughts are that if you don't own a yard, you don't want it.

 

[JLD]

Its the engines that are the big deal as you have surmised. An unused engine(s) is not a good thing. The one plus going for this boat is I presume it has been on the hard all this time, covered. I would confirm this. If I were to purchase this boat, before it even hit the water I'd have a rebuild carried out. New hoses, belts, etc and all tanks drained, cleaned and some of them purified.

A good friend of mine bought a Bayliner 3888 that had sank for whatever reason and he purchased after the sinking. He did put a fair bit of money into but ended up with a very nice vessel that has gone on 15 + years serving him well.

The question you need to ask yourself is do I have serious money set aside to rehabilitate this vessel. If the purchase price is taking you to the tippy toes of your financial existence, then don't get it.

All excellent points.

I think everyone would presume that the boat will need some serious dollars for a refit. The million dollar question then becomes is the boat worth the money asked?

The boat is listed at $175,000 U.S. and similar vessels on Yachtworld are listing in the $400,000 U.S. ballpark.

Jim

 

[BDofMSP]

I'm less skeptical about the interior condition but have other concerns. Could be just the camera angle but looks like ZERO outboard access to either engine. That and the Volvo's ruin it for me. No easy solutions to those problems.
BD

 

[Southern Boater]

I wouldn't consider it at more than $100,000 and even then would have to see it first. You mentioned potential engine issues and you could have similar with all equipment. In addition, I know many Princess's in which the boat has aged very poorly, including one taken about a year ago to Central America and now experiencing cracks in it's Gelcoat. Princess's have been notorious for leaks and for issues developing with interiors.

I think of the outdated electronics and then thrusters and hydraulics. Refrigerators, freezers, dishwashers, washing machine, I'd think major issues. No sign of stabilizers and it definitely needs them.

Upon inspection, it might surprise, but my initial thoughts are that if you don't own a yard, you don't want it.

It wasn't just Princess with the interior problems, most of the U.K. built boats had issues with "sagging" interior linings. Very evident with humidity changes.

 

[Southern Boater]

An Euro styling

David Pascoe called them bubble boats, although I'm not so sure the design of the newest offerings are that appealing either

 

[Southern Boater]

..........The one plus going for this boat is I presume it has been on the hard all this time, covered. I would confirm this.

I would think more placed in the shed as a photo op, given the length of time on the hard as a seized asset. Otherwise the $250K would be likely to just cover the storage over the eight year lay-up.

 

[Insequent]

Yes, lots of potential problems in addition to what's obvious in the pics.

Part of the issue in considering it is that the broker is saying inspections will be limited to 10 minutes due to demand. Not even enough time for 'tyre kicking' or the marine equivalent!

Its an online auction. Normally all the action for those is in the last 30 minutes. This auction still has 15 days to go, and already has 52 bids! Sales people often say you don't sell houses (or cars, or boats) - you sell dreams! And in this case there seem to be quite a few dreamers around it already. The broker initially predicted in the $A100-200k range. Its already at A$226k!

My guess is that by the time its sold, and the new owner gets all the required work done it will be at least around the US$ value mentioned in post #10. That would be A$600k. If you get lucky.

Oh, and unless you are already in Queensland, then due to covid border closure for folks from other States, there is a 14 day quarantine period for entry in order to get your 10 minute inspection. So its basically selling sight-unseen to someone with a bank account full of lazy play-money, or a naive dreamer. I'm neither. I am registered to bid, but will not be bidding unless someone wants me to bid for them and wires me the money in advance! On the plus side, its only a 45 minute drive for me to go kick the tyres, or whatever!

 

[BandB]

It wasn't just Princess with the interior problems, most of the U.K. built boats had issues with "sagging" interior linings. Very evident with humidity changes.

You're right in that the conditions appear far more exacerbated when sold in Florida and in Central America versus sold in New England or on the Great Lakes.

 

[Arc]

David Pascoe called them bubble boats, although I'm not so sure the design of the newest offerings are that appealing either

David also said just about every production boat would rot, delaminate, set on fire, and sink. I just didn’t see it.

 

[ssobol]

looked very nice until i noticed the bubbling wall covering on the left side of the PIX showing the stairs. Then several cans with blue tops of deodorant or damp rid.

Would have to see it .

Plus it looks like some of the glassware is missing.

 

[Robster_in_edmonds]

Volvos would scotch the deal for me. Every boat-owning friend I have that has owned a boat with Volvos has proclaimed he/she would never buy another boat with Volvos. BTW, I have never heard that sentiment re: any other manufacturer (Cummins, MAN, Ford/Lehman, John Deere, etc.).

 

[Simi 60]

And its all the above , mostly unfounded fears that lets others pick up boats for next to nought and for that I thank you.

 

[backinblue]

Buying a boat that has been inspected and surveyed can still have some expensive surprises for the new owner I have experienced this in my last purchase of a fairly new boat that looked immaculate but there were a few misses by the surveyor, some minor, some not so. I would never consider buying a boat "as-is". The price is only a good deal after you know how much you'll need to spend to get it back to where it needs to be. You are better buying a boat that was loved and used all the time than one that was neglected and in storage for many years. A boat with lots of hours on it is probably a better deal than one that has very few.

 

[quinsky]

Check the hull for warping. Thats a long time to be on the hard.

 

[Insequent]

The auction still has 3 days to run, and price is now at A$353,000.

Inspections were advertised for 20 & 21 June. Only a couple of bids since then, so far at least.

 

[rolomart3]

In my humble opinion, the engineering and designs of pleasure boating are so dismal that it may very well be an industry on its way to oblivion.
When one considers the maintenability improvements, reductions of operating costs and purchase price of computers, cars, laundry machines, airplanes and compares them to those of pleasure boats you can see it.

There is a saying that the two happiest days in the life of a boat owner are the day he buys the boat and the day he sells it. What the saying does not say is how many thousands of times greater is the hapiness of the selling day respect to the buying day.
Good advice: Stay out of boating. These days it will bankrupt you.

 

[JLD]

There is a saying that the two happiest days in the life of a boat owner are the day he buys the boat and the day he sells it. What the saying does not say is how many thousands of times greater is the hapiness of the selling day respect to the buying day.
Good advice: Stay out of boating. These days it will bankrupt you.

Gotta say this wasn't true with my trailerable sailboat that I recently sold. While it was exciting to buy the boat 10 years ago and a relief to sell her so quickly a few weeks ago, my happiest days on the boat was those days teaching my daughter to sail!

Jim

 

[BandB]

In my humble opinion, the engineering and designs of pleasure boating are so dismal that it may very well be an industry on its way to oblivion.
When one considers the maintenability improvements, reductions of operating costs and purchase price of computers, cars, laundry machines, airplanes and compares them to those of pleasure boats you can see it.

There is a saying that the two happiest days in the life of a boat owner are the day he buys the boat and the day he sells it. What the saying does not say is how many thousands of times greater is the hapiness of the selling day respect to the buying day.
Good advice: Stay out of boating. These days it will bankrupt you.

Wifey B: I'm hoping you meant that post sarcastically.

Every day of boating from the start until today has been wonderful and I've been sad anytime we parted with a boat. I know one day we won't perhaps be able to boat more and that will be an extremely sad day to me.

 

[rolomart3]

Jim, the operative phrase here is these days. We sincerely hope your daughter if an when she buys a boat in these days can make a similar happiness claim as yours.

I am glad you had a happy days in boating. But let us be honest: If they were so happy why did you sell the boat?

In summary: While thinking of buying a boat, one should consider the entire life-cycle cost to compare it to alternative costs of entertainment.
Renting and fractional ownerships of yachts/trawlers should also be considered.
As to pride of ownership and bragging rights, once upon a ttime to be the owner of a railroad car was motive for substantial pride an bragging. Today, such feelings have been replaced by the saying "don't buy a tram". Yachts and trawlers may be heading towards the same fate as the railroad car. In that case, selling it back will be by far the happiest day.

Just my opinion.

 

[Northern Spy]

And its all the above , mostly unfounded fears that lets others pick up boats for next to nought and for that I thank you.

Agreed. I think the average TFer is wound a little tighter than the average boater.

Perfect is the enemy of good.

That said, I think it is ugly as can be and wouldn't considering owning anything like it at any price.

 

[backinblue]

So I agree with most of the generalizations about buying, owning, selling, but I want to make a point about buying and selling a boat, new or used, from my own experiences. If you are a meticulous owner like I think most of us are, depreciation can be minimal, and on a used boat, the value may even increase. I know this is not the rule, but you also have to factor in what it is worth to use your boat and enjoy it vs. what else you would do with you time and vacations. I bought a new sailboat once, and sold it for about the same price 15 years later. First person that saw it offered my asking price even though I would have accepted less. A used sailboat I bought sold for more than I paid after years of care and use and making everything "perfect". Sure I spent time and money doing that, but I also had many great times on the boat. Not bragging, just saying that a boat doesn't have to be a big money pit. I'm investing a lot into my newest Mainship Pilot that I don't expect to recover, but at the same time I am spending lots of days/nights using it. The nicer it is the more I enjoy it. When it comes time to sell, I expect it will go quickly. One more thing, sure it's fun when you buy or sell a boat, though a couple of times I was reluctant and somewhat sad to let go. Selling is not always the happiest day.

 

[JLD]

Jim, the operative phrase here is these days. We sincerely hope your daughter if an when she buys a boat in these days can make a similar happiness claim as yours.

I am glad you had a happy days in boating. But let us be honest: If they were so happy why did you sell the boat?

In summary: While thinking of buying a boat, one should consider the entire life-cycle cost to compare it to alternative costs of entertainment.
Renting and fractional ownerships of yachts/trawlers should also be considered.
As to pride of ownership and bragging rights, once upon a ttime to be the owner of a railroad car was motive for substantial pride an bragging. Today, such feelings have been replaced by the saying "don't buy a tram". Yachts and trawlers may be heading towards the same fate as the railroad car. In that case, selling it back will be by far the happiest day.

Just my opinion.

The reason that I sold the boat is that we moved and I no longer could enjoy her. She was just to small to enjoy the part of the Chesapeake Bay that I have moved to. Not permanently out of boating, next boat will be much bigger and will be my retirement boat.

Regarding life-cycle cost, for this boat, it was peanuts. About $1200 depreciation (purchase price minus sales price) and $2400 for upgrades/maintenance for the entire 10 years.

Next boat will be considerably more costly. But, as moving into retirement, it will be used a lot!

Respectfully, I think you are wrong about folks buying boats for bragging rights, at least the folks on this forum. Folks have boats as they honestly seem to like and enjoy boating. One of the reasons that I really like this forum is it doesn't matter if you have a $5,000 or $5,000,000 boat, there are some great discussions!

Jim