Damaged Sunseeker Yacht

[Steve Benson]

Whilst dreaming on the Sunseeker Brokerage site I have seen this - http://www.sunseekerbrokerage.com/sunseeker-40-met...

This is an advertisement for the sale of Sunseeker 40 Metre Yacht “JELANA”. The Vessel is currently lying in Greece and undergoing survey and repair works following an incident experienced during bad weather. Full survey report and details are available upon request. This is a great opportunity for a new owner interested in an exciting project.

I guess this must be a 6 million+ Euro boat in good condition so what could have been so badly damaged "during rough weather" to make it's value less than 2 million Euro's?

I am in no way planning on buying it so just being nosey really.

[p1stonhead]

Steve Benson said:

Whilst dreaming on the Sunseeker Brokerage site I have seen this - http://www.sunseekerbrokerage.com/sunseeker-40-met...

This is an advertisement for the sale of Sunseeker 40 Metre Yacht “JELANA”. The Vessel is currently lying at the bottom of the ocean in Greece and undergoing survey and repair works following an incident experienced during bad weather. Full survey report and details are available upon request. This is a great opportunity for a new owner interested in an exciting project.

I guess this must be a 6 million+ Euro boat in good condition so what could have been so badly damaged "during rough weather" to make it's value less than 2 million Euro's?

I am in no way planning on buying it so just being nosey really.

Perhaps the advert missed 6 key words?

[chasingracecars]

£9.9m and his says it all...

http://www.superyachttimes.com/yacht-news/40m-suns...

Edited by chasingracecars on Wednesday 29th June 12:05

[MKnight702]

p1stonhead said:

Steve Benson said:

The Vessel is currently lying at the bottom of the ocean in Greece.

Perhaps the advert missed 6 key words?

Since the boat ran aground, it seems that you were correct!

[Collectingbrass]

p1stonhead said:

Perhaps the advert missed 6 key words?

In my experience (of snotter cars) : "One careful owner, nice and tidy"

[Chrisgr31]

Is the implication that the insurance company have effectively written her off and are selling her?

[Steve Benson]

Chrisgr31 said:

Is the implication that the insurance company have effectively written her off and are selling her?

That was my thought too.

Do boats out in the open sea HAVE to be insured?

Thanks to the people who found what the boat was, I knew someone on here would know.

[emicen]

To be honest, (if I was in the market for such a boat) I don't think the damage would put me off.

Same rationale as buying an accident repaired car. If the repaired value is greater than the cost of the boat plus getting it repaired then it may well stack up. Whilst I would want to do the research on what would be involved in such a repair, it looks like the water ingress should have been relatively moderate compared to the one I saw being dried out and refitted following a sinking inside the marina in Mallorca.

[Dr G]

...but then you sort of think: the type of chap with 3 million quid to burn on such a toy probably also has 6 million to burn. With that sort of cash to play with what motivation is there to buy a headache?

[Condi]

Steve Benson said:

Do boats out in the open sea HAVE to be insured?

Commercial shipping does. Not sure about private boats - possibly not, if you can self insure.

[ou sont les biscuits]

Condi said:

Steve Benson said:

Do boats out in the open sea HAVE to be insured?

Commercial shipping does. Not sure about private boats - possibly not, if you can self insure.

It isn't a legal requirement to have insurance for a small craft in the UK. Having said that, most marinas I've kept a boat in require you to be insured. Personally, I can't imagine why you wouldn't take out insurance, given the number of 'incidents' that take place in marinas - but maybe I'm jaundiced as my last berth was next to a charter boat - never mind what might happen out at sea.

[brickwall]

On the barging thread we talk about cars being an absolute steal if you've got your "brave pills". This would be the most extreme example of them all!

[emicen]

brickwall said:

On the barging thread we talk about cars being an absolute steal if you've got your "brave pills". This would be the most extreme example of them all!

Exactly my thoughts.

Without having the engineer's report and repair quote to hand it's all guesstimate numbers, but it's listed for sale at £1.6m, spend twice as much again on repairs and spec changes to suit your taste and that's still considerably under the next cheapest one for sale at a tickle over £10m.