What should i expect of a 34' 35 year old $25k boat?

Apr 8, 2010
1,942
Ericson Yachts Olson 34 28400 Portland OR
Given the way some P boats of the era had their stanchion bases bedded with soft rubber gaskets, check for water in the coring near each one. If little or none is found, immediately re-bed all of them.
By now an 80's boat should be on its second standing rig, and often have an upgraded or rebuilt diesel.
Instruments over 5 years old have little value, and over 10 years, zero. Whether they work or not.
As noted by others crazed hatches and ports should have been rebuilt.
And so it goes.

Figure that the value of a maintained boat (if a very rare turn-key one) could be well over 50K. The other 97% will cost half that. Surveyor will help you figure this out. Note that the best ($) one you buy will almost always be cheaper to own, two years later. (sigh)

By comparison/example, my particular boat model can be found on the used market, run down with nothing upgraded, for under 35K. Ours is insured for 76K 'agreed' value. (!)
Boats over 25 years old vary a LOT in value. As they say about diapers, it just Depends!
:)
 
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Jan 7, 2014
395
Beneteau 45F5 51551 Port Jefferson
Before investing in a survey, it might pay to get an engine oil and transmission fluid analysis, provided the fluids have some hours on them. Also the a/c unit should have a mfr date. Make sure the electronics are working, fridge, bilge pumps, running rigging. These are all things you can evaluate yourself before the survey.
 
Dec 28, 2015
1,837
Laser, Hunter H30 Cherubini Tacoma
Get a professional survey. You won't be able to buy insurance without it.
However, bar any soft spots in the deck or hull, I think that is a good deal.:clap:
Maybe my insurance is not the norm but I was not required to furnish a survey to add it to my policy.
 
Dec 28, 2015
1,837
Laser, Hunter H30 Cherubini Tacoma
I just refurbished and rebadged my 3 Balmar cast hatches. Sika rebedding materials cost me a little over $200
 
Jan 11, 2014
11,321
Sabre 362 113 Fair Haven, NY
Maybe my insurance is not the norm but I was not required to furnish a survey to add it to my policy.
What kind of insurance do you have and who is the insurer?

Liability only will probably not require a survey. A yacht policy with an Agreed Hull Value will probably require a survey.
 

arf145

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Nov 4, 2010
484
Beneteau 331 Deale, MD
I had a 87 Pearson 28-2 that I loved--a wonderful boat. But stanchions, chainplates, bow pulpit, and really anything bolted through the deck absolutely needed to be rebedded when I got it as a 20 year old boat. I'm surprised your current owner hasn't done that by now! And yes, those stanchion gaskets didn't help things. I not only had to rebed all those items, but had to remove wet core around the chainplates, and a few stanchions.
 
Feb 26, 2004
22,759
Catalina 34 224 Maple Bay, BC, Canada
Interestingly enough, and specifically for the OP, the things being mentioned are NOT unique to Pearson sailboats. Stanchions are something all older boats need to have checked. Chainplates, as some of us have mentioned many times before, should be considered part of NORMAL maintenance, but all too often are ignored by even fastidious owners, perhaps because they don't understand how the system works and are afraid to remove and re-seal them. Glazing and the other "issues" are something those of us with "experienced" boats ALL have to deal with.
Point being, for the OP, who seems to have a C22 and is considering a major step UP, these things are NOT deal breakers, they are part of maintenance.
Many of us here have not made that jump. For example, we had a C22 for 5 years, a Catalina 25 for 13, before we "jumped" to our C34 20 years ago. That gave us growth in steps.
In your case, YES, there are LOT more "things" to deal with because the bigger boats has MOR3E systems, like H&C pressure water.
But these things are just as valid for a C22 as they are for a P34.
I do agree: 34 is a great size for a boat! :)
Good luck, keep us posted as to your progress.
 
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Oct 22, 2014
352
Pearson P303 #221 RockPort Maine
BUDDY! I own a 1985/6 Pearson 303 and believe me and I can't say this more clearly to you, "Get a professional survey done." Besides, you (may not) be able to buy insurance without it to prove its seaworthy.
However, the survey will inspect the vessel for what you are going to have done after you purchase the boat. One item on my vessel "The Chain Plates" cost me over 3k to replace. Hard to see but under X-RAY they were ready to go POW! After removing them I took them to a metal shop and they tested the steal and POW they broke easily. Under the chrome bar, there were a lot of stress cracks in the metal. CLEAN does not mean its good. Anybody can do good detail cleaning and make it shine. However, after my survey completed he dropped the price by $$10K when I presented the survey document to the owners. So please HERE THIS... SURVEY FIRST!
 
Dec 28, 2015
1,837
Laser, Hunter H30 Cherubini Tacoma
What kind of insurance do you have and who is the insurer?

Liability only will probably not require a survey. A yacht policy with an Agreed Hull Value will probably require a survey.
Pemco. The policy covers liability and comprehensive with a agreed upon value amount.
 

JRT

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Feb 14, 2017
2,037
Catalina 310 211 Lake Guntersville, AL
BoatUS and USAA Progressive did not require a survey for my 2003 Catalina 310. I was surprised and we set an agreed upon value. Market Value required a survey for BoatUS.
 
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Oct 22, 2014
352
Pearson P303 #221 RockPort Maine
BoatUS and USAA Progressive did not require a survey for my 2003 Catalina 310. I was surprised and we set an agreed upon value. Market Value required a survey for BoatUS.
BoatUS is now Geico Marine subsidiary! What does Agreed On Market Value mean! In most cases, AOMV (Agreed On Market Value) in most contracts means you (at this time and date) agree that the value of your boat is $25,000.00 (Minus Depreciation) and that's dependent on the inspection of your vessel at the time of loss. However, with a professional survey done and submitted to insurance there are no questions, to its real value. I just went through this because of a claim with my boat and that's the first thing they said to me till I reminded them of the vessels survey submitted and that changed the tone. What most boaters don't do is update their vessels ADDED value with a copy of receipts and photos of any modification or additions to there vessels. Example: I replaced electrical systems, Radio, Radar, and Nav_Syatem(GPS) value $15,000 we came up with a new agreed value if lost. Time and time I hear the cries! But, I had just added this and that! Sorry but that's not been approved by your insurance company so I can't help ya! "But after depredations, I'm out the 15k" Yep!
plus, another 12k totaling 27K lost. Your vessel agreed is 25k giving you pay-off of $13k. Again, this is just trying to make you think ahead only. Best of luck! Capt Rob.
P.S. READ YOUR SMALL PRINT
 
Jan 11, 2014
11,321
Sabre 362 113 Fair Haven, NY
that the value of your boat is $25,000.00 (Minus Depreciation)
Agreed Hull Value is the value that the you and the insurance company agree upon. If the boat is a total loss that is the amount you are paid. In the case of a partial loss, some equipment is depreciated the contract will spell that out.

The other type of policy that you reference is not an AHV policy. It is the one used for cars and if the boat is insured through homeowners insurance.
 
Jul 27, 2011
4,989
Bavaria 38E Alamitos Bay
The depreciation schedule at GEICO/BOATUS is 10 % per year for boats 20 yr old, and older; so they say. Your boat is rammed and the stb stern railing is mangled. Replacement cost of the railing is $1,000 w/ $1000 labor cost to fabricate and install = $2,000 total. The boat is 30 yr old. According to the schedule your claim settlement would be 0.10 x 10 = 100% depreciation on the railing; so, labor only of $1,000. The only place to get the other $1,000 is from the other guy or his/her insurance.
 
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Oct 22, 2014
352
Pearson P303 #221 RockPort Maine
Agreed Hull Value is the value that the you and the insurance company agree upon. If the boat is a total loss that is the amount you are paid. In the case of a partial loss, some equipment is depreciated the contract will spell that out.

The other type of policy that you reference is not an AHV policy. It is the one used for cars and if the boat is insured through homeowners insurance.
Case and point here! "BoatUS and USAA Progressive did not require a survey for my 2003 Catalina 310. I was surprised and we set an agreed upon value." A Market Value required a survey for BoatUS/Geico and others. Prove to us that your vessel is worth more!!
 
Oct 22, 2014
20,992
CAL 35 Cruiser #21 moored EVERETT WA
:plus: On Gunni and Dave’s comments.

Just go into the project with a clear understanding. Old good boats take work. The amount depends on you and what you expect to do. Know a couple who bought a Westsail 32 for $33,000. They spent a year and $66,000 preparing their boat for sailing around the world. Had a great 3 year adventure in the Caribbean and then sold the boat for 40,000.

It can be a great time on a boat. And Pearson made great boats. Get a survey to help limit some of the unknowns. Have a mechanic inspect the engine. Then cross your fingers and dive into the deep water if all looks good.
 
Jul 27, 2011
4,989
Bavaria 38E Alamitos Bay
Case and point here! "BoatUS and USAA Progressive did not require a survey for my 2003 Catalina 310. I was surprised and we set an agreed upon value." A Market Value required a survey for BoatUS/Geico and others. Prove to us that your vessel is worth more!!
It makes some sense that the ins company would not require a survey if the Agreed Hull Value is equal to or less than what you paid for boat, within certain limits of course, which I’m sure they have determined. If you try to inflate the Agreed Value significantly over what you paid for the boat, they might then require a survey. It’s interesting. When my P-30 turned 20 or 21 yr, BOATUS had it surveyed; they paid. They then told me what I needed to fix to continue with their coverage, and offered to sell me a copy of the survey, which I declined. But, I did do the “fixing,” which was very minor stuff.
 
Jan 4, 2013
269
Catalina 270 Rochester, NY
Why would anyone NOT want a survey on a prospective boat purchase of this amount? If the $500 is too much money why are you buying a boat? After all, boats are just holes in the water to pour your money down.
 
Jul 27, 2011
4,989
Bavaria 38E Alamitos Bay
Here’s the deal. Most surveys are commissioned b/f the boat is finally sold. The sale is nearly always contingent on a satisfactory survey, but the prospective buyer pays for the survey. If it’s an out of water survey, then the prospective buyer pays for the haul out too. Say you pay, then you don’t want the boat b/c of ??? ... who knows? Next boat you have interest in, guess what? Another survey that you have to pay for, etc. This could theoretically go on for thousands, not hundreds, of dollars. So, no survey UNLESS you’re committed to the purchase of the boat, and you will need it for ins b/c they told you so, etc. Not b/c of what you might have read here.
 

JRT

.
Feb 14, 2017
2,037
Catalina 310 211 Lake Guntersville, AL
I was just giving my very recent experience given what I've seen here posted over and over about 'you have to have a survey', it is free info so you get what you paid for it:) In my case I told them what I paid for the boat and set the agreed value a bit lower. They (BoatUS/Geico) seemed to indicate that value was acceptable and said that if I made any improvements with major cost to submit the receipts so they can adjust accordingly. I'm comfortable with my risk in this boat at this time and I paid for it and did not finance it, so that also might be a consideration.

I've had no issues or claims in my name and I can tell you that my slip neighbor's boat broke loose last December and crashed into my 1976 O'day 25. They were insured by BoatUS/Geico and it took almost 2 months but sent me a check for over $3k for a damaged rub rail, paint and small gelcoat damaged. I was very surprised because my O'Day is also insured with BoatUS with a set agreed value of $4,500, no survey required either. I actually expected them to total my old boat but the check was a nice surprise.