Buying a vintage boat is a long cherished dream for many boat lovers. Vintage boats can be used for boat shows, displays or races. However, these classic models have many unique properties that require special attention.
So if you want to buy a classic vessel, you can visit this site to see a classic boat listing. And if you want to know about the common pitfalls to avoid while purchasing these vessels, you must read this article.
Common Pitfalls To Watch Out For When Buying A Classic Vessel
1. Not Surveying The Vessel
An old classic vessel will have a long life, and in its long life, it may have faced accidents or damages to its body or internal parts. Usually, the seller or the agent of an old vessel is upfront about the condition of the model that they are going to sell. However, you must survey every part of the boat yourself to make sure that the price you are paying is worth it.
Many people repair the outer body before selling, but the internal mechanics that run the boat are not maintained properly. So if you are investing a good sum of money in anything, it is vital to survey every aspect of the model. If you yourself are not a sailor or do not know much about vessels, you may take help from a person who has wider experience than you.
2. Not Major Safety Upgrades In The Vessel
Some people tend to think that safety upgrades like having a fire extinguisher system onboard will change the look of the vessel. They want to preserve the craftsmanship of the classic vessel as it is. At times people might think that new additions will spoil the elegance of the boat. However, adding safety devices like a fire extinguisher system or a GPS is worth it.
The safety upgrades greatly lower the insurance cost of the vessel. Insurance cost for a vessel covers the cost of any damage to the body or the cost of the vessel and all its belongings in case the boat gets lost in the sea.
So if you have made investments in installing a fire extinguisher system or a GPS, these will make sure that the boat does not go up in flames or it does not get lost easily. So all these will help lower the insurance premium that you have to pay to your insurance company.
3. Not Getting A Comprehensive Insurance Package
The cost of insurance varies based on the age of the vessel, the experience of the sailor, the waters in which the boat will sail etc. However, once you have finalized an insurance plan, make sure that it is comprehensive.
Getting spare parts for classic boats is quite expensive, so make sure that the cost of damage covers the exact make and quality of spare parts that are lost in case an accident happens or in case any part breaks down. The insurance must also cover the cost of oil spills in case the vessel has an oil leak in the middle of the sea.
4. Not Knowing The Country-Specific Rules For Vintage Vessels
Classic boats are old, and their engines or motors may not comply with the environmental standards that are prevalent in the present times. For instance, many countries allow vintage vessels to be used only for shows or display purposes. They cannot be used for commercial purposes as the authorities fear that their safety levels may not be good enough to avert accidents and loss of property.
Hence, it is important to know the country-specific rules for the sale and use of vintage vessels. If the boat that you like has a rich historical legacy, the government might want to preserve it in a museum. So you must read about the background and the status of a vessel before you take a loan to buy it.
5. Not Having Enough Reserves For Maintenance
You must keep in mind that spending a whopping amount and buying a classic boat is not the end of the journey. A classic boat requires more frequent and more expensive maintenance than a regular new model. This is because finding exact replacements for old parts is not easy.
If your vintage vessel has bronze parts in its engine or if they have a different kind of sails, then procuring them will be a tough job. You may have to contact boat restorers across the globe to get hold of the exact spare parts, so it would be disastrous not to keep ten to fifteen percent of the purchase price as maintenance cost.
6. Not Having Enough Knowledge About Vintage Boats
You may end up with a bad deal if you do not have enough knowledge about classic boats. So before you purchase any model, you must know the basics, like the difference between a sailboat and one that is driven by an engine. What exactly is a dinghy, a houseboat or a deck boat? If you do not know the basic facts about classic boats, you will end up looking like a novice, and you might get a subpar deal.
If you wish to learn more about classic models, you can read magazines that write exclusively about vintage models. You can also attend exhibitions and shows to gain wider exposure.
7. Not Testing It In The Water
A test drive is vital for buying a car; similarly, a test in the water is essential for buying a vessel, be it a new model or a classic one. Unless you test it in the water, you will never be able to be sure how well it works, whether it has any leaks or not. So not taking a test trip in the water is a mistake that must be avoided at all costs.
Buying a classic vessel is a crucial decision. These vessels are quite expensive, they are rare, and they are quite difficult to procure. So you must research properly, consult an expert and know all the pitfalls that you should avoid while purchasing a vintage vessel.