This 50' DREAM YACHT SOLD For ONE DOLLAR [Full Tour] Learning the Lines
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- Опубліковано 29 чер 2024
- *Update* The boat has been moved by the new owner. **
When I filmed and edited this video, all I knew about the boat was what was on the papers on the stern that you can see in the beginning of the video.
Those papers clearly state "For Sale $1.00" and also, "Owner: Koehler Kraft."
It's become clear that those papers were misleading and that there are a lot of legal hurdles to get through to take possession of this vessel. I advise anyone who wants to take this project on to get a good lawyer to assist them.
Please see the information that KKC wanted me to add below.
*7/12/21 KKC Update*
"The boat is still available to the first person to come and tow it away.
Here is what you need to know about acquiring Gypsy for a restoration project:
1. Unfortunately we do not have any space in or out of the water to store this boat. It must leave our facility immediately. The diesel engine is not reliably operational at this time. The boat must be towed away.
2. Any party requesting a complete restoration by our yard, be advised, we have restoration projects under contract that are utilizing all of our resources for at least the next 6 months. A restoration to top condition would cost at least $175k. If you are prepared to contract the work with the yard and post a retainer the yard will facilitate storage options at your expense.
3. The last owner of the boat was not a US Citizen and left the USA. We have not been able to contact him. This makes acquiring a new title difficult. It is a long and costly process that we are not willing to undertake at this time. Whoever acquires the boat will have to to arrange the clear title.
4. Dry storage would be the best option for a do it yourself restorer. There are several inland storage facilities that exist where the boat could be transported. Once moved, the restoration work could be done there be yourself or a contractor of your choice. I would guesstimate the cost to decommission and move the boat inland would cost $4-5k. Inland storage typically costs $1000-2000 / month depending on location.
5. We have not inspected this vessel and make no guarantees as to its condition. It does appear that many hours and money have been spent restoring this boat. There is considerable work to be done.
6. Owning a 50’ sailboat is not an inexpensive endeavor. Slip rent insurance and basic upkeep would be in excess of $2000/month for a boat in good condition. You would need to budget for this and have a minimum budget of $50k in addition to monthly expenses if you were to take the boat inland for DIY restoration. If you are not a lover of vintage vessels do not pursue ownership of this vessel. "
*7/8/21 KKC Update*
"1. This boat was abandoned at KKC facilities. The owner has defaulted on his contract with KKC and is believed to have departed the USA indefinitely. He is not a US citizen. KKC has exhausted all resources to locate him. There is not a title for the boat, the party who takes possession will be solely responsible in acquiring a title.
2. KKC is not selling this vessel. Any party who assumes responsibility for the vessel will remove it immediately from KKC property. KKC will release any lien against the vessel upon its departure.
3. KKC is not in a position to perform work on this vessel.
4. The vessel is available on a first come first serve basis. The party will remove the vessel promptly at their own expense.
5. Any temporary accommodation of the vessel could be considered by KKC president with the following conditions:
-A minimum cash retainer of fifteen thousand dollars will be paid to KKC to be used to dispose of the vessel in the event the owner defaults with any contract or agreement with KKC and or any damages to KKC facilities, property or any third party property.
-The owner will pay KKC short term accommodation fees of $2/foot per day. An agreed upon length of stay will increase at a rate of $1/foot/day after the end of term.
-Any work performed to the vessel must be pre-approved in writing by the president of KKC
-Any person working on the vessel must be insured and name KKC as additionally insured."
Info:
LOA: 50'
Draft: 7'
Beam: 11' 6"
Designer: George Lawley
Builder: Lawley Shipyard
Construction: Wooden Planks on Frame
Year: 1934
Historic Highlights/Info
George Lawley and son was a shipbuilding firm operating in Massachusetts from 1866 to 1945. After George retired, his son, grandson, and great-grandson continued the business until 1945. Hundreds of boats were built there including two boats that won the America's Cup in 1885 and 1886.
This boat is currently in San Diego, CA and under the ownership of Koehler Kraft. Their contact information is below.
www.koehlerkraft.com/
info@koehlerkraft.com
Not-A-Broker Consulting: / notabrokerconsulting
Facebook: / learningthelines
Instagram: / learningthelines
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Nothing more expensive than a free boat.
Hahahaha u ain’t lying brother
No kidding. That's the beginning of the end.
That's for sure, I've got a buddy that has one. He has been working on it for 4 years and it has not left the marina.
A boat is a hole in the water that you throw your money into.
Is there a lien on the boat?
Just drove 7 hours to San Diego to get the boat, it did not go as planned. They had told me I had until Monday morning to get it out of their marina, however when I arrived it was a different story. The owner was in a hurry to get us out of his marina, even though the boom was cracked in half and the motor didn't work. The battery was dead and we weren't even given time to work on it to get it running. Although the staff was respectful to us, the owner was very rude and did not want to work with us to remove it. Engine dead, battery dead, boom broken, and not any time to repair anything. There is also no papers no documentation or anything, and no hull ID. We walked away after an hour. The video walk through was pretty accurate though.
Wow...crazy. The owner (I presume you mean owner of KKC) is very nervous about the exact process/procedure to remove this boat. He is obviously following some very strict instructions from his attorney to maintain "arms length" from any possible liability. Caveat Emptor and "if it's too good to be true...." are important warnings to listen to with this situation. What did the KKC offer to you as a means of removing the boat? Would they remove the mast and take it out of the water and put it on a trailer if you had one that could handle it? Or did they saw get another boat and tow it out of their marina? This story keeps getting stranger and stranger. I do hope Learning the Lines does a followup on this once it's all sorted out.
@@timhardman4764 he refused to give me any paperwork. Would not provide me with license or CF numbers.said this conversation never happened. He gave me 30 minutes to remove it. Said he did not care if I drove it or had it towed. He did say if I left a deposit he would load it on a trailer. I was just dumb founded. Could not see any solution that would allow me to be the legal owner. I JUST LEFT.
@@svapollo6264 Sorry to hear about the disappointment and frustration dealing with this unique boat and more unique "selling" situation. It's too bad he did not make it clear up front (when on the phone with them) what all the conditions of "transfer" were. I did see this thread updated by KKC yesterday clarifying 4 things one of which was there were no papers and title was the responsibility of the person taking the boat. Learning the Lines did add that info to the Video Description area. It was then updated again with the $15K deposit if not taken immediately along with per foot storage/dockage fees etc... At a minimum there are potential legal land mines with this boat but it might be as minor as $1K or $2K of lawyer fees to get legal title and registration. On the other hand, if the original owner comes after you at some point in the future the legal fees could add up real fast even if you have proper/legal ownership but then have to defend it. She is a beauty and it sounds like you are the right guy to bring her back to life but it's just so hard and uncertain trying to complete such a messy situation. If you really want the boat find a good lawyer with experience in this special niche area of the law, give him the details and find out what his fee will be to title the boat in your name and protect you from a future claim with the former owner.
Totally ridiculous, red flags went up during & after your video. I followed the situation as much as I could, but just for one dollar it's not worth the sleepless nights wonder if someone made the right decision.
No paperwork tells me there are some legal problems with this boat. When the owner of the boat yard wanted the boat out in 30 minutes that's when I just would turn around & say no thanks. Plus I would never fo any business with that boat yard owner, never. & I would warn people too, just by what you did on the comment section.
Its a wonder the boat yard owner didn't strip down the boat for parts.
I was going to buy a wood boat over in Kauai. And they wanted a million dollar insurance bond. I called around they do not give insurance to wooden boats anymore. So that's one harbor you would not be allowed to go into. I couldn't imagine all the other harbors in the United States.
Thanks, Jordan. Enjoy these "project" tours. Beautiful lines....but
The sale price is all one needs to know.... RUN!! 😂😇
Just restored a 30 year old 50'MY. This sailboat is a $100K free boat. With these kinds of restorations, unless you do it all by yourself (which still will always cost more than one thinks,) there are many small things that add up quickly.
No look at the bilges or frames? Very interesting boat but all we saw was pretty woodwork. The things that really matter were not shown.
garbage
"Learning the Lines" These guy know very cursory amount Not intended as a survey
That's what I was looking for. This one is special, not sure why it got the short treatment.
Looking in the bilge when the hatches are staring you in the face is not a survey. I was disappointed with this too, especially on a wooden boat.
Beautiful, Wood is such a nice ride over fiberglass. Excellent shape for being abandoned.
Love the boat. I restored one from WW2. Note: the bottom has to be stripped and redone every 7-12 years. On the low side, this boats bottom work if it's in great shape will be 20-40k to pay a service provider. Doing it alone is fine, but you'll be digging hard at it for 150-400 hours. Painting material only is about 8500.00. If it's soft below, most sling operators won't touch it. It can not be insured unless the whole bottom is new in the last 7 years with a recent full survey. If it had paperwork, and they had a sling available to haul out so it could be bunked up on a semi, I would strip and glass it completely below deck line so that nonsense would end. Onced glassed well and survey is done, insurance is a breeze. Nearly zero marinas accept uninsured boats.
A look at all the bilges with a pencil to poke with is perfect for a quick inspection on wood hulls
Whoever got her has a great deal. She will be amazing.
I will send pics 😆
@@paulfrancis4479 Thank you.
Looks good on the surface. If I were interested in a 50' deep water sail boat (way beyond my expertise) I would want to know the condition of her planks, frames etc. Would also like to see her underwater profile, fin vs full length keel. Both are good, but what you want depends on what you want to use the boat for. She looks like a fine vessel, and would be worth restoring, even a complete rebuild (e.g. Samson Boat Co. Talley Ho) which I wouldn't expect from what you showed us. I hope she goes to someone who really appreciates fine classic sailing yachts.
$1 + $200,000 worth of materials and labour (or much more....) and you would have a beautiful sailing Yacht worth about $30,000 - $50,000!
Been there, done that!
Nice video but no question that there will be major structural work needed!
Whoever buys it is committing to a huge project!
Is it worth saving? Maybe. Will it be expensive? Without a doubt!
Thanks for the great video!
Mike 🇨🇦🍁
Agreed the price is right. With it in San Diego it'll be somebody else's project. But I too will be looking forward to that owner sharing his experience on bringing this project back up to speed. Nice boat and a great find keep up the great work.
My wife said that I absolutely cannot fly to California and sail it back to our landlocked home in Georgia. Bummer.
Georgia does have a coast. Just saying.
I really like wooden sailboats. I believe that two young people could really make something of this one.
A Gypsy is a design gem! From years gone by! I would take it in a minute, but I can't presently.
Love seeing you in the 17b!
Absolutely stunning
Send it here to New Zealand, she will get looked after here!
WOW THATS A HELL OF A DEAL! GREAT LIVE ABOARD!!!
it always makes me sad when a beautiful boat ever gets to a condition like this where its going to take a lot of work and money to bring her back to sailing condition ! but i hope there is someone with the skills to do just that and i will applaud them once i see them out sailing this classic beautiful boat.. LA Rob
This scenario may be common at other repair shops, items left, people don't pay, leave item, shop has no title, can't sell and in this case, a monthly slip fee. Legally for them, best way to pass on to someone else and purchaser can disappear with the boat....
Research getting new title first, can be done.....
Next check for rot, engine then glass, boom, rigging, then sail to and be a liveaboard.
..
If it was closer, I'd buy this as a long term project in a heartbeat. What a handsome boat
Beautiful old boat. Lots of work to bring back, but cool when finished.
such a pretty boat
If she was already in Florida, I probably would consider getting her. She is definitely a project I could take on myself, flip her or keep her. Unfortunately, she is on the other side of the world. But she is a beautiful girl.
Thank you for sharing "Gypsy"
Please add this information to the description:
1. This boat was abandoned at KKC facilities. The owner has defaulted on his contract with KKC and is believed to have departed the USA indefinitely . He is not a US citizen. KKC has exhausted all resources to locate him. There is not a title for the boat, the party who takes possession will be solely responsible in acquiring a title.
2. KKC is not selling this vessel. Any party who assumes responsibility for the vessel will remove it immediately from KKC property. KKC will release any lien against the vessel upon its departure .
3. KKC is not in a position to perform work on this vessel.
4. The vessel is available on a first come first serve basis. The party will remove the vessel promptly at their own expense .
Added, thanks.
@@LearningtheLines This should be pinned at the top of this video.
This statement from this company means they're technically selling a boat they do not own or have title to.
What's to stop the actual owner from returning at some point in the future with title in hand and reclaiming his property.
No way in hell I'd buy this boat with out some very serious legal consul in my pocket just in case...
@@PastorwithoutaPulpit It would surely have been easy for the yard to have taken a mechanics lien and re-issue of title. I wonder why they didn't?
Tis a beautiful vessel fer a pyrat...email sent!
I'm not lawyer and I don't play one on TV. But this seems to be the best way to think of it: They don't own the boat but they own an interest in the boat because of work and storage. They are selling that interest for $1, hence you get it with no lien from the yard. What a mess!!
PLEASE DO A FOLLOW UP VIDEO to how the situation progressed on the 1934 Lawley wooden boat! if you can interview the new owner THAT would be an interesting video to hear how either crazy someone is or knowledgable they were to safely navigate hazardous waters legally/mechanically to scored a nice boat.
I, too, would love to have this as a project boat!
I couldn't imagine the cost of keeping a 50' boat in Southern California.
$1400 -$2000/slip
Get it the the
hell out of California. Probably Mexico.
@@danieloliver20 damn
The guy lives in Florida
From what I can see, the boat looks well cared for and solid. The only thing that really concerns me is being able to get a new title and register it
Solid, lol,,,, nothing worked, no running motor, cracked boom.so many things wrong. Not worth a dollar if you can't title the boat.
Tow it out t sea and set it adrift. Come back board it and tow it to shore and file salvage rights.
@@ccpederson1769 what exactly do you expect for $1 LOL
I would be very interested in following the journey of this beautiful vessel, hopefully someone will step up and look into her overall condition.
Shes pretty solid, been living in her for a year
The boat was there for a refit...and then abandoned. What's that tell you? It tells me the previous owner got an estimate...and then ran.
I think it's more likely, considering 2020 and all, that the boat was abandoned after the owner either passed or lost their job.
The notification on the boat said they just did a new bottom job which means probably new paint and Zinc at least and that the hull was sound..that's my boat.
@@agentnuget that's most likely the case
@@stevenr8606
junk
@@kevio6868 how well do you know the boat?
Dang! I’d jump on this project. If only I wasn’t on the other side of the world! $1 boats DO NOT look like this in Australia Love to be able to document the restoration.
There's more to the story of this boat. No title will be an issue as well as we didn't see the bilges or important areas of a boat. If this boat was on the east coast of USA it would be worth alot, keep in mind this boats in Cali. Everything is more expensive and politics come into play. You'd buy this and if there was an issue and it sinks when you move it Cali will bill ya probably 5 million in fines and removal for environmental damage or some bs like that. If wasn't Cali and has a title would be worth a little but the Cali n no title will definitely be an expensive issue to try and sort out, especially if a foreigner.
There's loads of free/cheap sailboats in USA. I'd look on the east coast to purchase in my humble opinion. Cheaper and politics don't get involved unlike the west coast where everything's backwards in the name of social justice or whatever they're motto is at the moment.
Sitting in Melbourne, that is just what I was thinking.
@@working2bselfsufficient724 No really. You can buy a boat like that for $130k. A quick research on Yachtworld. The strange thing about the boat is the fact the KKC says you will need $175k to restore the boat without having surveyed it. Having ask them how is this possible to make an estimation like that I git the answer just because of their 80 yrs experience.
There are ways around to register the boat very easily but there is always a risk that the pre-owner comes back and ask for his property and there is not much what you can do.
@@michaeldob2153 Exactly
Love all the bronze... bones look amazing
This particular boat is in excellent shape for the most part. The problem will be re-rigging with modern and appropriate safety features, such as steering lines and stanchion fittings, as well as, all new lines and possibly sails. Having said that combined with the enormous amount of woodwork is probably the reason that it's a dollar other than that it's an excellent boat from what I saw in this video. I'm from Newport Rhode Island and I sailed on the world's largest wooden tall ship. The thing to remember about a wooden ship is that regardless of whether it looks like it needs work you do the work anyway. Ps. I currently live on Captiva, Island now. I feel like we're kind of neighbors just across the canal number 10
Theres only one way this purchase makes sense .place it on land build a cover overhed to protectit from the weather build a wooden deak around it at the waterline level.instant tiny house with real character and class .
GREAT IDEA! ID LOVE FOR THAT TO BE MY TINY HOME!!!!
That’s a Beautiful boat
I think it's a gorgeous boat. I'm aware of the cost and amount of work it could need. But, at 76 years old, and living in the mountains of NC, I think I should pass on this one.
Nice boat, i love it ⚓
Part of the problem is its size. It will cost more to berth, more to haul out, more to dry store, and more to re rig. There might be some framing issue as well as some keel ones. If so, those will require skilled work to repair. Doing the work one's self, is probably the only affordable option, but there are a limited number of boat yards that allow this. Everything has moved so upscale these days. It's 11 foot beam may allow it to be trucked far in land, where the work sight may be less expensive.
Then again, there may be no major bottom issues, and maybe just the rigging needs to be replaced.
The cost of caring for it and keeping it may be a major reason it was dumped.
I didn't notice any pumps running, so I suspect the bottom is in reasonably good shape.
To bad I'm from accross the Atlantic.. She looks amazing!
This is a boat for a good lawyer. Real first question is does California have statue of limitations for ownership of abandoned personal property? You are not buying it. You are paying KKC to release their financial claims.
'Fine, it's a sculpture of limitations'
They haven't taken it because it was abandoned, they've taken it for payment of a debt ... I'm guessing.
It probably has more back storage fees then it’s worth then on top of needing a refit?
Nice amount of light being let in
That's a great boat to start a UA-cam channel from.
junk
@@kevio6868 That makes it a perfect channel starter!
You should do more videos like this 👍!
Out of sight out of mind.15,000? Could be the lien on the vessel.1200.00 monthly berthing.Owner in Florida. Koehler to find legal rep in Florida to file paperwork 5000.00?Owner lost interest or can’t come up with finances?Boat for sale for$1. Churchill said a riddle wrapped in a mystery inside an enigma!GOODLUCK.
Been in this theatre for 40 years. Free boats are a lot more expensive than the ones you pay too much for.
THANX FOR THAT BOATS COVERAGE... ITS A PRETTY VESSEL THAT HOPEFULLY ENDS UP IN THE HANDS OF A TRUE ENTHUIAST... BUT FOR A DOLLAR ITS ANYONE CAN ZALVAGE IT FOR PARTS... WHAT A SHAME THAT WOULD BE
Love it!!!!!
Good firewood !
Bravo!
Hello, my name is greg im 64. i think this boat is really cool. i dont care how much work it takes.
Hoping that you or any sincerely interested individuals or groups will get this 50' sailing vessel and get it blue water liveaboard-ready or rigged and safe for coastal sailing and begin enjoying it a d the work fun and adventures that await.
Loved the video, kinda sad for the guy .
Wow great potential
For a dollar 💵 just for a live aboard at the dock is a steal the wood was awesome 👌
Looks like a bout my uncle owned in the early 70s it was crazy fast . He sailed it all over the east coast and the islands. Only sold it because a new bridge to replace a drawbridge was goin in and the new bridge was too low
A lot of expensive legal work and regulatory hurdles. But an excellent project and fine vessel. Will take a lot of sweat equity and boatyard fees and transportation costs. If I were taking it on the transportation costs would make it cost prohibitive, I live in DFW Texas. 10s of thousands to transport this beauty to Texas and again from dfw to the gulf when finished.
AWESOME
The problem is it would cost me $13,000 just to truck it to the east coast. Really is a money pit unless you live in that area. Does look like it is in good shape though for a restoration. Some guy with a lot of time and a lot of ambition will be happy with it.
The guy lives in Florida.
There was a boat about like this one and it was ship from the mid south area to California and the cost was 60,000. To ship
i lived in Annapolis actually born there and have taken a chain saw to boats such as this the give away was the streaking of fastener's below the water line its a shame and it breaks the hart.
It's a dollar up front, then half a milly to restore it.
1/2 mil ya think? That teak decking is probably 120,000 if it is a dime. When that teak deck goes away it will not be replaced with more teak the way things are looking unless she is sailed off to the Western Pacific Rim where teak and labor are cheap. Interesting there appears to be no visible water ingress from the teak deck. Now is the time to strike! Off load that deck and glass over it. The head china was pretty impressive. It's a heart stopping hull design though. Looks like something from the drawing tables of S&S. And even at that one of their more exotic designs. I think you could be correct when sheathing the hull is taken into account. Total glass over the inside and outside. Nobody is going to do with tending that thing as it is without doing what the last owner did to her.
@@melee401 if the stringers and the planking are good, glass it, but buy stock in West Systems first!!
@@danieloliver20 ya... GLASS an antique wooden boat... just brilliant.
Tow it to south America get the work done for ten cents on the dollar
@@melee401 Your trying to make a wood boat plastic? I think they already have those.
Very cool being a dollar on the west coast it needs to go to a ship yard dealing in wooden boats there’s one in Brazil where sailing Yaba is heck it would be a adventure through the cannel !! Yep deep pockets for sure unless you could find a place cheap enough to bring it nack if I was in my situation I’d be there with 5 $ dollars 😎
junk.....Yaba was a complete rebuild financed by Utube..junk
Yaba is a pile of crap compared to this boat.
The woods and construction techniques of Yaba are completely different. And it's true that by the time Ben and MP are finished, they will have replaced most of Yaba with new wood.
Usually in wooden boats the frames next to the keel rot due to fresh water in the bilge good luck finding someone who can do the repairs until then you're liable for any damages when it sinks in the harbor.
Yeah..rotten framesrotten knees .Shagged running rigging.
Motors seized.etc etc
This deal sounds fishy as hell. What's going on below the waterline? Why didn't KKC file a mechanic's lien and foreclose to get the title? I suspect there's some major gremlins (legal and mechanical) hiding in all that woodwork that KKC didn't want to deal with which is why they are just dumping it instead of selling it as a project.
That still on floating and not going to sinking. That is already saying about the hull quality.
If it looks too good to be true - It probably is. Wooden boats are a lot more work. Others have stated that ownership might be disputed.
my thoughts exctly
Ik,denk zelf dat ze een keer de bodem geraakt hebben, met de de kiel.
Zomaar een zandbak?
Of er is echt iets constructief, niet Oke.
Want dat deurtje, ging in vast. Naast de mast!
Good friends of ours bought a beautiful yacht designed by William Fyfe of Scotland and built and launched in Australia in 1907 as a gaff rigged ketch. Still sails and races competitively. The owners paid a few more dollar more than the one above, but quickly realised they were merely the current custodians and have spent a bucket load of money bringing the vessel back to it's former glory.
Que pena...se ve maravilloso
if it was near the UK i'd jump at it!!!!
Cheers.
Lawley built some really nice boats , including the legendary LF Herreschoff Ticonderoga . looks like it must be quite dry there judging by the open ports . no sign of water leaking in anywhere because its so dry ? if the boat sheds water and fresh water is not leaking in thru the decks and various joints she might be largely rot free . best thing to do is look at her on a rainy day to see where and how badly she leaks . she looks to be in amazingly good condition with no sign of fresh water or mildew anywhere below . perhaps the San Diego climate has spared her .? the peek into her deck lockers didn't look too scary either . looks like it would be easy to look at her frames in the turn of her bilge in those lockers . there and around underneath the engine beds is where you will usually find cracked frames . if not , that says a lot for her structural integrity . those cast bronze beams reinforcing the house are a quality touch . engine looked clean . is there a battery to try starting it ?. all in all she looks really good .
if you or someone can afford slip fees she would make a nice affordable live aboard or weekend / coastal cruiser . she looks like she needs only relatively minor work . has sails . doesn't seem to have a swampy bilge . and a very nice looking boat . beautiful teak decks ; which can be problematic with leaks . it is unusual to find a boat of that age and quality in good shape that has hasn't been butchered or glassed over by a past owner . she really is a boat for someone who loves wooden boats and will keep her up properly and not butcher her beautiful woodwork . she would be snapped up in a heartbeat by New England classic boat lovers . I believe frank Paine designed some of the early Hinckley sailboats . you might try advertising her in the back of wooden boat magazine . I hope she finds a good owner . I am a wooden boatbuilder from Maine .
Ticonderoga was built by Quincy Adams, not Lawley’s.
Great tour for stimulating Boat dreams and fantasies about boat ownership since it floats, appears to be in relatively good shape and everyone here can afford the purchase price. This is a big hungry alligator requiring regular feeding for the remainder of it's life. The new owner will need to have lots of time, money and skills...aka...alligator food. The wealthy person wanting this kind of project would see a sale price of $10K, $5K or $1.00 all the same. There are only a handful of wealthy, sophisticated customers like that in the USA and they don't appear to be interested. The $1.00 sale price I'm afraid is a tactic to snare an unsophisticated emotional buyer that can't really afford the long term costs but thinks he will be able to figure it all out along the way. Good luck to whoever buys it and I hope it doesn't end up being chopped up and parted out. The current owner could be the same guy that Holly, from Another Adventure on Y. T. got a salvage boat from and then once she got it off the beach and to a marina and started the restoration, the owner tried to reclaim it. It took lawyers and money and time for her to win that battle even though it was a "cut and dried" case. The previous owner knew Holly had little financial resources and he thought he could bully her financially to the point she had to give up. Fortunately it was a just and happy (but expensive) ending for Holly. This boat comes with potential legal problems also re: legitimate ownership and title due to foreign ownership that cannot be found. This boat will definitely generate some income for an attorney or two. If you don't have $100K in cash in the bank that can be used on this project for phase 1, plus a relatively good income that will continue during the restoration that you can draw from for additional boat restoration expenses then you can't even consider this boat, you are way to poor to buy and restore this $1.00 boat.
Good Summary. Thanks.
At Holly, the initial situation was completely different.
The legal situation KKC is aiming for is not feasible in Europe. You cannot pass on someone else's ownership "just like that". The legal way must be taken, i.e. a court must confirm KKC's claim, auction the ship and compensate KKC with the proceeds.
Everyone can reflect why they do not take this straightforward path.
@@albertfunk1176 Albert, the point being made is this is not a conventional clean purchase and transfer of title meaning a former owner might dispute the new "owner/caretaker's" claim of ownership requiring a legal defense and the funds to pay for it. There is some risk of losing the boat to the old owner after you've spent your $15K boat project fund just to get this boat to your farm in Ohio to start your 10 year restoration. I'm sure KKC hired a lawyer and did their due diligence to insure they have no liability regarding the further care of this boat or obligation to the owner. I assume it is considered abandoned property and the unpaid dock fees are greater than the boats value. I'm also sure in any Boat storage/docking contract the rules are clearly stipulated regarding what will happen if you don't pay your monthly fees and KKC is now exercising those rights. KKC has said the boat is not for sale for $1. It is not a sale transaction. It is a first come first serve, take it away for free immediately. This probably makes it even "cleaner" for KKC if they get sued/taken to court so they can say we did not receive any compensation or object of value for this vessel when it left our property so there is no compensation or value to share with the former owner should he try to litigate with KKC. The object of value will be with the person who now has it in his/her possession. They will have to hire legal help if/when the former owner comes looking for his/her boat whether their claim is legitimate or not. So Phase I funds in the restoration project need to include legal fees to defend your claim. When deciding if you want to take on this project, the potential ownership issue is one more risk the new "caretaker" of this boat must factor in to their decision.
@@timhardman4764 The way I see it, they give up their unpaid fees for $ 1 (why only verbal agreement?) and look away when the boat is moved out.
Sounds like the perfect project for some bored Mexican cartel who have a passion for old boats.
First, many marinas will no longer take a wooden boat. We do not know when the frames have been refastened or how many times. Still, it would not be a crazy risk. You would have to be a DIY person. That is what happened here. Commercially, too expensive to restore. Just get the list of work to be done from them and then you would know. All IMO having had several wooden boats before.
The statement from this company means they're technically selling a boat they do not own or have title to even though they state they're "Not Selling" the boat. That's your very first RED FLAG and the only one that should matter folks.
What's to stop the actual owner from returning at some point in the future with title in hand from reclaiming his property?
No way in hell I'd buy, or should I say Take, this boat with out some very serious legal consul to protect me...
Quite so.
I was thinking the same thing
Nice project but will need a strong lawyer
You folks are so right. I am in the boat business and have a passing familiarity with admiralty law. This is a booby trap waiting to snare the unwary dreamer. If the title was possible to get KKC would have already secured it and sold the boat.
@ed wiser what the way around it
@@joeldelamirande5792 there is no way around it, maritime law requires a title, or boll of sales to even move the boat. Since the owner of the boat yard acted the way he did, was a red flag.
It was a beautiful boat but wooden boats scare me. i have watched sampson boat co videos and that is too much work for me and im pretty handy. Plus reading the description there is no title nor hull numbers so getting it moved anywhere by water would be a pain in the ass. Getting title to it would be a nightmare in CA as well.
That would be great to buy it but there's other fees like back rent probably but other than that if the motor runs any one can buy it then drive it to where they want it and start fixing it.. I would start by preserving the wood on the outside to protect it from the weather then go from there..
It’s $1, no back fees.
I'd love this boat if I had a place to repair it, and a knowledgable friend.
More like this one would be great! Fair shape low cost. Ida given a couple k for her
Gorgeous boat with beautiful lines! I wonder about its history. It seems like the exterior section of the mast was replaced with a much smaller lightweight aluminum mast above the deck compared to the original wooden one down below never mind that the mizzen mast is gone.
hi like the boat
If someone had a boat repair or refurbishing shop, this would be a smart investment!
Amazing, for a dollar !!
Even salvage for parts, thats a bargain. Ports, Engine, fittings... Worth a LOT of money.
Yup, there's a lot of salvage value in there for one who is willing to put in some labor and time.
Only if someone wants to bye them!
@@williamretallick7430 Yup, that's kind of how it all works, don't be going selling stuff to people that dun want it. That would be a handicap in negotiations.
@@williamretallick7430 The value doesn't necessarily have to be found in the selling of the salvaged parts or materials. For somebody building a new boat, buying an old boat can be a great source of fittings and equipment, especially if you can find one with spars of about the size you need and in good condition. Winches that can be rebuilt, etc. All that stuff adds up quickly if you have to buy it new and/or as individual pieces. Plus bronze, aluminum, and lead ballast always has value as scrap. I was looking at lead prices the other day and it's pretty high right now.
Local guy here in Alaska was giving away an Alberg 35 project recently that he couldn't afford to keep any longer. Looked it up, and there was about 5000 pounds of lead in the keel. If I'd had a way to move it and a place to do the work, I would have been sorely tempted.
Yep, the boat looks like a great deal. Heck she is floating but what baggage come with? Too bad on the west coast.
I would have paid double the asking price lol
ha! Now that's a good comment. :)
It's a bidding war! $2.50!
@@PatrickKQ4HBD $2.55
Good start for $1
frames and bilge need looking at
If you're a DIY-er, you could whip this boat back into shape for just $150,000 (if not significantly more).
This is probably the truest cost!
beauty
Is it even Solar???🌈
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I wonder what a hull survey would reveal. Mast boom, rigging. It has potential to be a beautiful vessel but, yes it could be a lot of work AND expense. If done properly though it could be a wonderful coastal cruiser.
This is a nice boat, any chance of a follow up?
Maybe the new owner can do a youtube restore project?
Can't belive someone out there has not grabbed it. Darn only 1 dollar
I will buy it!
Well did you buy?
Would love to have this boat but don’t even begain to know how much it would cost to get to pickwick lake in Tn…..
Would love to buy it
The hard part would be to find a slip for it. Most marinas no longer allow wooden boats at all. Or, if they do, then there is a large amount of things you have to meet. Personally, having owned a 50' wooden one off, I personally loved it. Lots of work, but I found it very fun and therapeutic. Good luck to the next owner.
The cost to get a title, how long could the original owner come back & repo from you, & the approximate cost of the refit would be starters. The boat yard legally can’t do anything; they have a lean on the boat; once they release the lean couldn’t the original owner come take possession providing they have proof of ownership? It just seems this could be a huge cost just in legal fees. You need insurance before moving; which seems impossible in its current state regarding the hurdles associated with legal ownership. I’d be interested in getting more information as I’m getting ready to retire, wouldn’t mind taking on a project; it’s not worth a half million though.
For that, kinda surprised someone has not bought it for scrap/parting out. The bronze windows etc, alot of other stuff of value there. Many years of labor or cost for someone to bring it back, but it might be cool.
you need to back up about 100' to get a shot of the boat, it is like a puzzle having all these little boat parts, imo profile shot, drone shots would be nice.
Would still need a survey. A boat is a hole in the water you throw money into. You need to know how big that hole is. No title? What are the legal issues involved? Still interesting.