Could be a sad day

[Capn Ellis]

After a successful 5-year partnership, my co-owner has decided to bail on Dec. 31. The terms of the partnership require me to buy him out, which will be a bit dicey for a retired school teacher (know what I mean?).
So ... our boat is a 1987 26.5 with a 9.9 Nissan kicker. It has a new roller furling headsail, original main. Only a depth meter for electronics. The interior shows wear on cushions and water stains from previous leaks (all found and fixed).
What would this boat sell for on the East Coast? Any ideas?

 

[barometer]

according to...

according to http://menu.buc.com/index.cfm

Retail Price Range:* $8,450-$9,700 not including outboard engine

Area and condition are not represented in the price above.
Please see the vessel condition table below, to determine how condition affects market value. Area adjustments and replacement values are available with BUCValuPro.

 

[Jack W, -2005 H 36]

Another thought

How about advertising for a replacement partner.
If your past experience with having a partner has been a good one, why not give it another shot.

 

[Andy]

Owner-seller financing

Will he let you buy him out over time? If you paid him cas he wouldn't get a whole lot in interest; maybe he would be happy with a 5% return?

 

[Cap'n Ellis]

I was spoiled

My partner is (still) one of my best friends. I taught him to sail as this was his first boat, and he had never sailed before. He's done well with his investments so he's willing to write a check at the drop of a hat. He's scrupulously honest. If he broke something, he'd tell me even after he fixed it. He agreed I'd be the managing partner, and he abided by all my decisions.

He'll be tough to replace, eh?

I have another friend who wants to take over the partnership but he has ... ummmm .... shall we say, cash flow problems at the moment. I have until January to solve this. My bud won't leave me without my boat; we'll work something out. I was just asking about boat value to give him the info he needs to get a idea what his half of a 21-year-old boat is now worth.

 

[Ctp. Jim]

Sad Day

I bought my 1988 26.5 two years ago in great condition for $5,000.00 minus the motor that cost me another $2,000.00. Here in Michigan I've seen them sell for up to $12,000.00.
There are some real good deals to be had because of the economy. Are you asking what your boat is possibly worth or what you could expect to receive for it in todays market?

 

[kielboatsa]

this august I purchased a 78' h27 with aan inboard yanmar for $6,000 here in Chicago. The boat is in good condition. I bought the boat through craigs list which seemed to have significiantly lower prices than those listed through local brookers or marinas. I suggest you look at local ads to get a realistic market value of what the boat.