Posted: 07 November 2005 at 9:25am | IP Logged

Has anyone ever had any trouble insuring a Formosa since they were built in Taiwan?  Does it make a difference if the broker reports that the boat was manufactured in Taiwan with the owner on site to oversee?  Does anyone think the electrical weaknesses found in many Formosas are bad enough to deter me from purchasing the boat?  There are also conflicting reports about their being deficient in light air.  Is this just a preference or is it a problem?  I'd also like to hear from past or present Formosa owners for a bunch of other questions that I have.

Jeri

Posted: 09 November 2005 at 6:56pm | IP Logged

The place of manufacture is not an issue as far as getting insurance. Age might be an issue for off shore insurance. Of less concrern is what the broker reports. He couldn't know if it was true or not and so what. Don't take these types of intangibles serious. It may in fact have been built perfectly with no flaws but that was a very long time ago. What it was is not what it is. That is what you want to know most about. What shape is it in and what needs to be done. Something will need to be done and maybe a lot of things.

It's amazing how many boats are made in Tiawan. Many American boats are still made in Tiawan. They made a lot of all types of boats there. Some better than others.

Age can be a problem however.  It may or may not need a lot of work. I wouldn't buy one for light air performance. You really want a nice Swan for performance. If you are cruising you are hauling lots of stuff and you wont win any races. If you want to race don't buy this boat it's not fast in any air, but in good shape it could haul a whole family worth of stuff.

There are a lot mechanical systems and other assorted things to check out on any boat this size. Most all these boats are over 25 years old! They can be problematic and you need a full survey to tell the story. It's not that they have a bad reputation (but not a great one) but that they are as old as they are. Each one is different and how they were kept and maintained was all different. They are all limited to technologies of the day as we all are<g>.

If headed off shore there could be more things to fix than your budget can stand. At 25 years without updating. All standing and running rigging, chain plates, engine, sails, all mechanical systems, all wires of any kind, all electronics, all plumbing may not in good enough shape to sail away with to some degree or another. Then there is all the stuff you'll need to add t any boat you buy.

I don't own one but I do own a 25 year old boat. They can be fixed up. These boats often sell pretty cheap for a 51 ft boat for a reason. Tread with caution. Hire the best surveyor you can find. Give it a good going over. Sail on it at a sea trial. Looks and pictures alone will not tell you much and don't believe anything a broker tells you. It's not that they lie but they can't really know.

Posted: 20 November 2005 at 8:42pm | IP Logged

we bought a 25 year old Vagabond 47' 4 years ago!  We did have to go thru a lot of system to make the either work or up.  The surveyor did a good job and we were able to get insurance thru Boat US.

However, due the hurricanes the last few years premiums are out of sight!

Posted: 29 March 2006 at 7:00pm | IP Logged

I own a CT41 built in taiwan , where it was built is not a problem as far as insurance goes. The only boats which are very difficult to insure are ferro cement .

What any insurance company will want is a survey report from a chartered surveyor. the survey will cover condition and if the boat is fit for service , it may even give a current market value.

The insurance company will insist on this survey , if the boat is deamed fit for service buy a liscenced surveyor thay will insure it.

Also go with a marine insurance company not the same people who insure your house. trust me

get the survey done on any boay you are seriously considering, it will be the best money you ever spent .

Z

Posted: 30 April 2006 at 11:55am | IP Logged

I am in the process of purchasing a Formosa 51 . It's nice to fine even the smallest bit of information about there vessels . If anyone has additional information would you please post a link .

My wife and I are presently playing the waiting game . The survey and sea trial are done and we close escrow on the sale of our home on May 22 . At that time or shortly after we will be moving aboard . We feel fortunate to have found this beautiful vessel in our own back yard . The previous owner has done an extensive refit of the boat and there are no major items for us to do . All of the old systems are gone . Even the deck and coach roof sides have been replaced or reworked . The only items left are cosmetic . This will alow us more time to sail and enjoy our new adventure .  We are presently in Tacoma Washingtom . If anyone would like to contact us we are looking for other owners and information . Thanks