Price check on compac 16.

[domromer]

I know asking for what a both is worth can be an exercise in fuility...One person will say it's worth every penny and how much is your enjoyment worth to you. The next will say they wouldn't pay more than $5 dollars and how they just bought a brand new such and such for $4...I'm looking for some opinions in the middle.  I'm going tomorrow to see a 1987 compac 16. The owner is asking for $4700, I looked at the 87 16's that sold on sailing texas and this seems a bit high...Here are the photos and some specs...what do you think?

- 16 feet LOA ; 6 foot beam
-  1100 pounds
-  bow sprit w/roller (for anchoring)
-  cuddy cabin, sleeps 2 adults
-  fixed shoal keel; 18 inch draft;  good for gunkholing
-  tanbark (maroon) main and jib;  good condition
-  new rigging lines;  wire topping lift;  reefing gear
-  halyards led to cockpit
-  electrical and lights throughout;  battery w/case
-  new spring loaded, adjustable motor mount for easy lifting
-  boarding ladder on stern
-  Hutch galvanized trailer (good condition) with many upgrades and
   folding tongue for garage storage
-  owners manual

Extras
-  bimini
-  ida foil rudder
-  cowl vent and round hatch on bow deck
-  new tires, bearing buddies and more on trailer
-  mast crutch
-  ablative bottom paint
-  refinished interior
-  vinyl cockpit cushions
-  new tiller and sail covers

BOAT:  asking price for boat alone : $3900  or best offer

MOTOR:  2015 Nissan 4hp Longshaft :  $750  (new $1100)
                 (5 yr warranty with papers and low hours)

BOAT and MOTOR :  $4650

_DSC0026 by Dom, on Flickr

_DSC0019 by Dom, on Flickr

_DSC0015 by Dom, on Flickr

_DSC0009 by Dom, on Flickr

[Potcake boy]

Dom,

The boat looks pretty good in the pictures. Bear in mind that a fiberglass hull will last a very long time. If the basic boat isn't sound then I wouldn't proceed. Another thing I am wary about is DIY projects. Many boat owners undertake these projects to improve or personalize their boats, but don't have the proper skills or insight to make them add value and often they leave more problems than they started with. Any modifications should be judged by adding value to the boat and if they were done to a high standard of workmanship, and with appropriate materials, otherwise they may be future headaches.

Of course the usual check for damage should be included in your survey of the boat. The sails and rig are another area of concern. Although unlike the basic hull they can be replaced, it can be expensive compared to the price you pay for the boat. Is there is any damage to the rig (mast or boom), damage to the sails and their age, is the running rigging in good shape? These things weren't a great concern at one time, but boat stuff seems to have gotten really expensive in the recent past. If all these things are in excellent condition then it adds value. Sails are often rated as serviceable just because they don't have tears or holes in them. If they are original then I would consider the cost of a new set because performance suffers greatly from exhausted sails. Sail inventory is another consideration, how many and what are they.

I see the boat has Florida registration so it may be a salt water boat unless used on inland lakes. The trailer is usually the first victim of salt water, but it looks pretty good in the pictures. As new as the motor is and considering that the rest of the boat appears to be well kept, I'd assume it is in good condition.

Overall, from what I see in the pictures the boat looks good and if I were in that market I'd certainly have an interest.

As far as price, I don't think anyone can be your conscience. It's subjective and personally I never use a difference of up to around 20 percent be a deterrent if I feel I am getting a good boat that will offer more enjoyment than headaches. I have sold a few boats that I know are tip top because of how I maintain them so don't let the price be your priority.

Just my opinion,
Ron

[NateD]

The price is a little on the high side (especially for Florida), but it's not unreasonable.

Could you find roughly the same boat, maybe not cared for quite as well, without bimini and ida rudder for $1,000 less? Yeah. But add in a quality bimini, an ida rudder, and a bunch of elbow grease to polish/paint/pretty up and you're going to have another $1,000 into it.

Whenever I'm boat shopping I envision how I will be using the boat and the gear that it needs to have. For me, a bimini and autopilot are necessities. If a boat comes with them, I can do the math and justify paying a higher price. If the add-on/upgrades/condition of that 16 don't bring any added value to you, then I would pass at their asking price.

[Duckie]

I paid more for my 88 CP 16/3, but she came pretty well equipped.  Take a good long look at the trailer.  Especially if it has been used in salt water.   Check the axle real good.  I agree that the sails are worth considering.  I have a more than complete suit of sails which made the higher price more attractive to me.  In the end, I didn't get a bargain, but I got my money's worth.  I am so happy with the boat that I am glad I jumped right on it like I did.  If you think you are paying too much for the boat, it will probably take some of the enjoyment out of having it, so don't be afraid to walk away if you have any doubts.  

Al

[hoddinr]

I know of a CP-16 that just came on the market.  1993 - Always garaged, and in pristine condition.

Don't buy this one until you see the one I know about, Dom. 

Very well equipped too.

Ron

[ChuckO]

The boat appears to be in very nice condition with pretty much  normal equipment.  Bimini, Tan bark sails, Folding trailer tongue, cockpit cushions and the fore deck cowl are plus items.

No mention of some normally common convenience items found on and sold with the 16's: Porti Potty, Anchor/Rode, LED vs incan. lighting, battery charger, compass, mosquito netting, depth gauge, GPS, Jib Down-haul, interior cushions and not sure whether the long shaft motor and wire topping lift may be negatives. 

Overall if the sails are decent, the hull has no blisters and shows no repairs to the keel, I think you are in the ballpark of where you should be.  I would offer $4,000 and go from there.

ChuckO
CP 16-2
Carpe Diem
Charleston, SC

[tmw]

It seems a bit high, but then it's also a nice looking boat.  For reference, I paid $1500 for mine, an older (I think 1980) model, no bow sprit, none of all the bonus accessories, but it did include a trailer and a really old outboard motor.  I also bought mine near the end of the season (after Labor Day) in Maryland, and I think now at the start of the season prices might be higher.  I also think I got a really good deal, so if you wait for a similar good deal, you might be waiting a long time that you could be sailing.

[nies]

The condition of the boat is everything..............that price is reasonable with all the extras and from the pictures seems in sail away condition.....buy it.......nies

[ChuckD]

Domromer,
The boat looks well-loved, to me.
Unless you discover a show-stopper, I would make this one MINE.

Keep us posted!
Chuck

[Craig Weis]

Some CP-16's are given away for the price of a good scrubbing with Soft Scrub, a Mequire's #49 compounding, and Mother's waxing.

craig