Yes most hunters don't have backstays and have the traveller above your head......gotta love it or hate it I guess. I'm thinking good for diving and water sports freeing up the transom and cockpit. That's the deep keel version I prefer the shallow draft wing keel at 4 ft 7 draft!

^^^^ gee that's a bit personal........ I have decided to to relax a bit on personal details on this forum.
The way I look at it is, there is always someone better off than you as well as someone worse off!

Just enjoy what you do have.

cisco said..

Jode5 said..

Hi southace
I am also upgrading to an new Hanse 575 which will be here in time to be displayed at the Sydney boat show in August after which we will bring it home to Brisbane, hence I have placed my fully loaded 2 year old Catalina 445 on the market. I am not sure how must you are looking to pay, but if you are looking for a boat that is as new that has everything and is over 150K below replacement cost and 50K below basic sail away price, it could be worth a look at.

http://www.boatpoint.com.au/boats-for-sale/boatdetails.aspx?R=15995499&Silo=Stock&Vertical=Boat&Ridx=0&eapi=2

Mate, you really have me quite amazed with your obvious wealth and with it your sailing passion.

You have a large canal front home at Newport Waterways where in 1979 I knocked back buying a first stage canal block for $24,000.

You have a Catalina 445 on the market for $300k odd and you are just about to take delivery, ex boat show, of a Hanse575 which surely must be costing you in the region of $500k.

So your boat ownership represents an investment of $800k or thereabouts.

I recently put forward a tenet in this thread or another on this forum that:- "Successful yacht ownership lies in never letting the value of your yachts/boats exceed 10% of your nett worth."

This was pooh poohed by some as being non committal to the ethic of sailing or "just doing it" with life.

So therefore I have just two questions for you.

1. Do you hold to the 10 % tenet/rule?

2. In which business did you build most of your wealth?

Hold on!!! How did you stay inside the 10% rule with three yachts?
Or is that a bit personal asking how ya earn a crust and be an Admiral.

southace said..

^^^^ gee that's a bit personal........ I have decided to to relax a bit on personal details on this forum.
The way I look at it is, there is always someone better off than you as well as someone worse off!

Just enjoy what you do have.

I don't see what is so personal.

Jode5 put quite a bit of info about himself in his profile and just told us that he owns about $800,000 worth of yachts.

I merely asked if he holds to the 10% rule and what business is he in.

Direct maybe but hardly getting personal.

It is up to him to tell me if he feels that is a personal question.

Besides, what is so wrong with people being personal?


While on the topic of the 10% rule, it is what has allowed me to walk away today from my Van De Stadt 34 that I deemed to be an impossible task for me to repair and refloat. How and why this happened is due to my own poor judgement, stupidity and procrastination.

However, my adherence to the 10% rule has resulted in my being able to buy another yacht in the near future. I paid $35,000 for it 7 years ago and have spent around $18,000 in storing it. All up $53,000 and that is not even 5% of my nett worth. It would have cost way more than $18,000 in marina fees and maintenance over the period if it had been in the water but I would have had an asset today instead of a liability.

How am I able to afford to do this you might ask. I invested in real estate while I was still young.

I do enjoy what I do have which are options. Cheers Cisco.

Well done Jode, well done.

The harder you work, the luckier you get.

southace said..

I would have to ask the question Cisco from the pic you posted of the van de stadt why isn't you didn't get some antifouling below the waterline and stick it on the pick up some creek to finish the refit? Or perhaps crane it into your back yard?

The boat was already up the creek in Maryborough on the cheapest yard rate ($50/week) almost in Australia. I bought it 8 years ago almost to the day for $35,000 which is cheap for a VDS 34 at any time. It had problems in the anchor locker which I did not pick up at the time.

I wasn't quite ready for it at the time due to "other commitments", so I thought I will just store it there until I am ready. Maryborough is a 100 klm drive from home and the commitments dragged on for years during which I was only able to work on it sporadically. With wife and 2 teenage kids the logistics were difficult to say the least.

The rudder and prop shaft had to be pulled as their bearings were seizing on them. As we all know, rust never sleeps and the bow section was rotting out. Steel boats can be great but you have to be on top of them ALL the time which basically means you can't just park them for a year or two. You need to be living onboard and fixing rust spots as they appear.

So, prop shaft out and a rust hole in the bow and along came the floods that filled it with water to the deck, drained out and left behind about a tonne of mud. Mud dries out and becomes fine caked dust. Engine is siezed, all electrics shot, needs re-rigging and the fit out is dodgy at best.

I had discussed the back yard option with wifey who basically said what if you incapacitate yourself or better still, die, what am I going to be able to do with it????

I am 63, financially OK, with $40k and her permission to spend it on a yacht that is working.

In my shoes, what would you have done?? I think a little Peterson 30 is right up my alley.