Winter 2002

.SYWTIZHYNTS appearance, achievement, function, development, etc.; natural; standard; regular.)

By Sterling Weatherford My story is an on-going “Case Study for the Total Cost Of Ownership for my Flicka.” This document has been updated on a continual basis for a 36 month period (Three Boating Seasons) from March 1999 to March 2002. On occasion, information has been provided during the activity and prior to completion, but in most cases after the occurrence. Beware, this is a long document! So you say you want to own a boat. Have you picked one out yet? Or are you looking for a specific boat that you’ve fallen in love with? Is she going to be new or used? "She", why is she a she people ask? Love and affection I say, love and affection… I’m not going to get into the "she" thing, some of your partners may not understand, "just kidding". Regardless, get the checkbook out! Now mind you; I know the expenses involved in owning a boat, but even the best laid plans and budgets can be thrown overboard once you become a boat owner, yes even an experienced boat owner can be taken by surprise and probably more than once! Now we normal people who are boat owners, “what ever normal means” (Webster: 1. Conforming with or constituting an excepted standard, mo del, or p atter n; especially corresponding to the median or average of a large group in type,

“Is it possible we boat owners are not like other people?” who are lucky enough to find a boat that matches our personalities and lifestyle at the time of purchase; we, "in this case me" are usually happy regardless of the Total Cost of Ownership even if our budgets, timetables and emotions become; shall we say, drawn-out, blown, de-stabilized, thrown out of sync, etc., you get my meaning. Moving right along, below is an accounting of expenses associated with owning a used boat. Not just any boat, but my boat! Yes, I’m going to disclose all this personal information for the world to see about my Flicka; so that you, the person thinking of buying that boat you've always wanted, will be modestly informed as to what’s really involved. Plus it's a great way for me to keep track of my Flicka expenses; hey, "two for one" now that's a deal. Now remember, this is a Case Study of my boat, uh oh… I feel a disclaimer coming. "Under no circumstances is this Case Study to be used as a definitive reference; instead, it should be viewed as a single case that could easily apply to any "in this case used" boat." Yes hardware, rigging and propulsion may be different especially if your applying this to a powerboat, but the possibilities, labors and meaning are the same. And by the way, I don’t believe that a boat is a “Big Black Hole In The Water You Throw Money Into” I’ve had less problems and more equity with my boat’s than most of the home's and car’s I’ve owned!

© Copyright 2001 Dennis Pratt/Flicka Friends Dennis Pratt - Publisher 685 Spring Street, #191 Friday Harbor, WA 98250 (360) 370-5133 scamper@rockisland.com Tom Davison - Editor P.O. Box 462 Empire, MI 49630 (231) 334-7458 flickafriends@coslink.net http://www.coslink.net/personal/ flickafriends/mainpage/index.html 9MJ(TXYTK&+QNHPF By Tom Davison

In the spring of 2002, there was a series of postings on the YAHOO Flicka 20 bulletin board relating to how much a used Flicka is worth and BUC prices were discussed. This article is an attempt to answer the question of how much a Flicka is worth based on the BUC system. I’ll also make an effort at explaining how BUC pricing system works and compare it to the original base price of the Pacific Seacraft Flicka. Since there are no BUC listings for Nor’Star Flickas nor Flickas built from Bruce Bingham plans, no information can be provided for them. Another reason for this article was Rod Bruckdorfer’s decision not to post prices on the Flicka Home Page and my decision to follow this policy. While I have placed prices in several ads (after a specific request), from Spring 2002, I will quit listing the price for Flickas on the Flicka Home Page. This decision was based on several things, including keeping my web page non-profit and also avoiding being in the middle of a Flicka transaction. This happened once. A seller was asking what to ask for their Flicka and the buyer was almost the next telephone call. Considering that I had never seen the Flicka, this placed me in a difficult spot. Since pricing information appears to be of considerable interest, this article developed around what might be the more fundamental question about Flicka ownership—How Much? The crux of the question is how much is right price. Boat condition is the single most important factor in selecting a Flicka. While this may seem obvious, the information relating to the Flicka can cloud the decision.

Missing something or assuming the boat is fine may cost you money in the long run. At the heart of this problem is the boat survey. That topic will wait for another time. The tables on the following pages should illuminate the BUC pricing system and help Flicka owners and potential buyers in determining what is a fair price. Some explanation is required to insure that the information is understood. First of all, the base price is for Pacific Seacraft Flickas with the following options: inboard diesel engine, and sloop rig. The reason for selecting these options is to standardize the equipment on the Flicka so that the prices shown are apples to apples, at least to the degree possible. Is there a range for Flickas? From brokerage listings, the price of a used Flicka has ranged from a low of $8,500 US to much as $50,000 US. This is based on prices for Pacific Seacraft Flickas encountered over the years. The information is really limited when it comes to Nor’Star Flickas, Flickas built by individuals from Bruce Bingham’s p l a n s , a n d f o r F l i c k a s b u i lt professionally from Bingham plans. The least expensive one encountered is a ferro-cement Flicka at $8,500 US and a privately built Flicka for $12,500 US.

When you review the tables on this page and the follow pages, you can see that figuring the asking price of a used Flicka isn’t just a simple number. The source for BUC prices from the BUC BOOK, a pricing reference for boats. Brokers complete a form about a boat purchase and forward it to BUC where the data is entered into a database. The information includes a variety of information about the boat and geographic area. Their database generates information based on the make and model. The RETAIL LOW is calculated so that roughly 70% to 80% of all the boats sales fall between the RETAIL LOW and the RETAIL HIGH. Note that %5 of the sales fall above the RETAIL HIGH and 10% to 20% fall under the RETAIL LOW. Add to this the regional adjustments and the adjustments for condition and the result are the tables on these pages. BLUE BOOK This information was included as well and should help establish any trend in pricing. The source was the A.B.O.S. Blue Book Values. N.A.D.A Beside the BUC prices, the prices from the N.A.D.A. May through August 2002 were included. Included in their information is the Manufacturer’s Suggested Retail Price, estimated 9MJ(TXYTK&+QNHPF REFERENCE PRICE COMPARISON This is a single example for a 1989 Pacific Seacraft Flicka. As you can see, the amounts do not match in all categories. REFERENCE

This price reflects the average trade-in value of a clean used boat “ready for resale.” This may also be considered the low value.

The average retail column reflects those boats in clean conditions with no visible damage or defects. This boat will show some moderate wear and tear and will be in running condition. The buyer may need to invest in either minor cosmetic or mechanical work.

The high retail column reflects those boats in excellent condition. Like new! This boat will show very little wear and tear and all equipment will be functioning, and the engine (s) are in good running condition. This boat has been meticulously maintained or restored and will not require any reconditioning.

Average Value (both Low and High Value), and the Resale Price. BANKS AND INSURANCE Many will feel that the BUC, NADA and Blue Book prices fall below the asking price of many Flickas. When you review the BUC system, you find a wide range of possible prices for the Flicka. Boat condition is the basis for this range. Simply looking at the BUC price doesn’t really answer the question of “How Much?” What condition is the Flicka in is a better question—one that will bring a better response. Since these numbers serve as the basis of bank loans and insurance policies, the connection is real and must be considered. Loan officers and insurance brokers may not be aware of this range. The bank I obtained the BUC information from kept the BUC books in the loan approval department and the loan officer didn’t know what they were. You may need to educate them on the reasons that the Flicka you are interested in should be insured for more than one in “BUC Condition.” Page 6 has a table for figuring what a Flicka would cost relative to the BUC listings. The table on page 7 was created based on current and past BUC information. Lots of possible answers to the basic question of “How Much?” DISCLAIMER This article is not intended to be the final word on the price of a used Flicka. There are too many factors to consider and a two page article cannot contain them all. The condition of the sailboat must be considered before any transaction is contemplated. Obviously a qualified marine surveyor should be consulted for professional examination (survey) of the Flicka. The final answer may be that you will pay what the Flicka is worth to you and that may be quite different from the dollar amounts on these pages. 9MJ(TXYTK&+QNHPF BUC CONDITION RATING AND ADJUSTMENTS Rating

Maintained in mint or bristol fashion-usually better than factory new-and loaded with extras (a rarity)

Has had above average care and equipped with extra electrical and electronic gear

Condition Ready for sale requiring no additional work and normally equipped for her size

BUC AREA ADJUSTMENT FOR 19-25’ SAILBOATS AREA

Requires usual maintenance to prepare for sale

Substantial yard work required and devoid of extras

Enough of hull and engine exists to restore the boat to useable condition.

Current BUC Price (Adjusted for Area only, see next two pages)

Cost To Repair / Replace (Column 1 of Appraisal Form)

Cost to Repair / Replace (Column 2 of Appraisal Form)

Current Resale Value (Subtract D from A.)

Allowance for Profit on Resale Estimated storage, advertis-

ing, insurance, profit and other overhead.)

(Subtract F. from E. OR Multiply E x .75.)

NOTE: Current BUC price is a price for a GOOD BOAT, ready for sale WITHOUT ANY ADDITIONAL WORK. +QNHPF5WNHJXFSIYMJ':( YEAR

Note: The BUC also has an additional multiplier for the Flicka. Depending on the area the boat is in, you might be able to add another five or ten percent to the prices listed on this page. Also remember that BUC Condition is based on setting the price at eighty percent of the highest price for a Flicka. In order to get your Flicka’s BUC price, you need to read the article and apply the information from this table. There is a worksheet on page six to help you through this process. Obviously, based on condition, there is a considerable range for the BUC price of a given year of Flicka manufacture. The restorable column was used in the past by BUC. It was included to provide more information about the full range of possible Flicka prices. &1NYYQJ-NXYTW^'JKTWJ<J8YFWY By Sterling Weatherford Why a Pacific Seacraft Flicka?: It’s 1990 and I reluctantly go to the Minneapolis Boat Show with a friend who knows little about boats but is high on expectations. We’re wandering around, when all of a sudden, I can see way off in the corner of the auditorium, a small sailboat that clearly is out of place amongst all of the fishing boats, runabouts and play toys. As we fight our way towards the little boat, it's apparent this little girl’s got the cut of the boats I grew up with when I lived near the sea. As I stood and stared at her, I recall asking the salesman how long she was, he replied “20.” “OK,” I said, “may we board?” With a passive reply, “sure, and please remember to remove your shoes.” As I boarded her, it was immediately apparent that I was on a real boat. You know the kind I mean, heavy construction, well designed and laid out, all solid bronze fittings and port holes, all teak interior, zip out headliner, top of the line pumps and equipment and no plastic. My response was an unbelievable "WOW!" That's all I could say was "WOW!" I think I said "WOW!" for years as I described her to people. Now let me explain "WOW!" to you so that your perspective is as mine was. At the time, I was the proud owner of a 1988 Wellcraft 18 Classic Runabout, I was restoring a 1965 Trojan 30 Hardtop Cruiser and was in search of one of my favorite boats, a 1986 Hatteras 36 Sedan, which I finally found in 1993 but didn't buy. You see where I'm going with this? I suspect a convert sailor was born that day. This is not to say that I hadn't sailed before. I had done so on day sailors and been on coastal day sails in the Pacific, Gulf, and Atlantic. This is not to say I changed my whole idea of boating, because I didn’t; then and now, I still like the Hatteras, Fishers, Grand Banks and a few other similar designs. I’m also a firm believer that power and sailboats can co-exist as

long as respect for both disciplines are observed. Hey, we're all boaters, maybe at different experience levels and using different hardware, but we are a community in the minority when it comes to the big scheme of things. Initial Search: It is now 1993. Up to this point I was selling off all of my boats, boating investments and equipment in anticipation of purchasing a 1986 Hatteras 36 Sedan. Then, in the early spring, behold, a broker from Chicago found a Hatteras close to what I was looking for. When it can time to go to Chicago to survey the boat, I just couldn't do it. I'll bet you can guess many of the reasons why, OK, I'll tell you. First, the Hatteras wasn't equipped with the diesels I was looking for. Second, the cost to refit to my tastes was high. Three, I had casually been looking at Flickas and learned of the Dana. I had also compiled information on the manufacturer, Pacific Seacraft, the boats themselves and I liked what I saw to say the least. Let's talk about a change in direction! I enjoy activities that place me near, on or under the water. Lake Superior just happens to be the place I spend many spring, summer and fall days enjoying those activities. As you can imagine, sailboats are in abundance on the lake and I found myself spending more time looking at, and meeting people with sailboats than I did in the past. After a while, I found myself wanting to experience the peace and tranquility as well as the art of sailing. In the summer of 1993, I decided to buy a sailboat. I contacted several dealers and the local Pacific Seacraft Broker to see if there were any Flickas or Danas in the area for sale. Nope, not a one. Hard to come by I was told. As a matter of fact, most of the local “meaning upper Midwest” sailboat dealers thought I was nuts for wanting to invest so much money into such a small boat. “What do they know any-

way?” The broker, Alibi Yachts, Inc. was very helpful and searched their sources, but was unable to locate either boat in an acceptable configuration and the shape I was looking for. By this time I’m realizing that buying a used Flicka or Dana is going to be a long process. What to do? I’m boat less. Not only that, I have only basic experience with sailboats. How do I remedy this situation? I got it! I’ll buy a West Wight Potter 19 and use it until I locate what I'm looking for. In 1994 I went as far as building two Potter 19's from the basic hull up. I learned more about sailboats and sailing with my hands on “trial by fire” efforts when working with those Potters than if I had just bought a finished sailboat. Now imagine this, I’m building and sailing a Potter 19 from 1994 to 1999, while looking for a Flicka or Dana. And to add “fuel to the fire" I found out how funny it is when you’re on a quest, and you run across all sorts of things you like, like the 1986 Tashiba 31 that I almost sold my soul for. Well, it seemed that way at the time but I came back to reality. 1998 arrives with a bang, and I’ve got to get a Dana, notice how it's now a Dana I want! You got it, the Tashiba 31 spoiled me and I didn't even own it! The size and quality was impressive and for some reason the Dana seemed close enough for me. After all, I really did like the Dana. Back to Alibi Yachts, Inc. I go. “Any Dana's for sale?” “Yep, one coming in next week.” OK, we're on a roll now! I examined the Dana, and you know, it was the best used Dana I'd ever seen, excellent shape and equipment. The price, well, high as one would expect but within reach. I was finally going to get that Dana, Yahoo!!! Uh oh... What do you mean I waited too long and someone else placed a bid on the Dana before me. You got it, the Dana was gone! I really have to rethink this whole Dana-Flicka issue. What do you really want? Is it worth all this waiting and trouble? You bet! X^9.++&3>&33