by Stephen Robson

*MARGARET C back she was a working mullet boat in 1958 complete with on board Land Rover to help drag the fish nets off Moreton Island.*

It was in a bar twelve years ago, at a yachting friend’s wake, when I was introduced to a shipwright. He lived on his boat and was planning to escape up the coast.

When the conversation eventually turned to my interests, I explained that we had just bought an old timber boat. I pulled out my iPhone3 and showed him the photo of our 1958 Morton Bay Cruiser, MARGARET C (aka MAGGIE).

I was excited by the upgrade from the 1961 Heron dinghy, so I asked him for a “shipwright’s advice” hoping to get a snippet of wisdom. Even though I was obviously animated and excited, he pushed the phone away and said all I can advise is to ask for your money back.

Our discussion ended there, and I am delighted to report that we ignored this rather gratuitous advice. That was more than a decade ago and my family and friends have had many fun trips on this beautiful craft. We have even inspired several other groups of friends to adopt the same ownership model, resulting in four additional timber craft now gracing our peer group in Sydney. Significantly, very few of these people ever had much to do with boats previously. Yet, despite this and the shipwright’s advice, the majority of them are still enjoying their vessels.

Some years later, during our annual working bee for MAGGIE, my group were reflecting on how much fun we were still having. So there and then, we decided to add another timber boat to our personal flotilla – a yacht this time – with a slightly larger group.

*VENTURA on Sydney Harbour as she is today with higher freeboard and carbon-based very efficient rig.*

This story shows how easy it is to buy a timber boat. It is difficult however to get good advice about the process – well it was before the SWS website was created. It’s not all a bed of roses. We have made plenty of mistakes. And we still run into the old fuddy duddy timber boat traditionalist who believe that these vessels should be left to “real boaties”. Fortunately, these old farts and reducing in number thanks to the Darwin’s theory. So, if you want to be one of the people replacing them, read on for the advice I wish we had been given at the start of this journey.

At the outset you should know that I am not a “marine professional” - I’m a pharmacist – but I do know what I like. And I love timber boats. Especially classic timber boats. Today, having bought two old timber boats and advised a number of friends, I’ve learned a thing or two about the process that goes into purchasing and keeping on of these fantastic vessels. In doing so, you too could become the custodian of a piece of maritime history and feel a great sense of pride every time you step on board.

Thinking about the best way share this knowledge, I figured it could be expressed as 10 tips:

Rule Number One-Custodianship

You never own a classic timber vessel. You are a merely its custodian who holds this title until the next custodian comes along. As such it is one’s role to look after this style of boats. In fact your attitude should be to improve her during your custodianship. And if it becomes too much to handle pass it onto the next custodian. This doesn’t mean you will lose money, but don’t expect it to be a good investment. Our first boat cost us $88,000 12 years ago and was recently revalued for insurance at $110,000 – not a great investment, like vintage cars for example. Our second boat was purchased by its previous custodian for half a dozen bottles of champagne. This enthusiast then rebuilt her, and we recently paid $120,000 to take her on. It wasn’t a good investment though, as our surveyor advised that a lot more than this would have been invested.

VENTURA in Tasmania as she was in the 1940’s. Note the 8 Metre style rig with a larger mainsail, lower hounds, longer boom and running back stays. She also had significantly lower freeboard. All making her more complex to sail with a wetter ride in those days.

Rule Number Two-Groups are great

Unless you are ridiculously wealthy, a group makes sense for many reasons. The main one is usage: Timber boats need to be started, locks need to be turned, toilets flushed, batteries charged, dishes washed, sails hoisted, winches turned zips opened – you get the drift. People coming and going do all of this and more. Of course, a group also helps to defray costs as well (see tip number 7).

Rule Number Three-So how many?

We have found that the ideal number of custodians per boat is four. Fewer may not result in enough use and more can run into insurance problems. Develop a simple agreement – our agreement is a single page. Cover things like objectives, selling out, maintenance, usage etc. If any one would like a copy of our agreement then just let us know.

Rule Number Four-Ask questions

Shopping for boats is fun. Enjoy the process. Look online. Visit brokers. Ask lots of questions. There are no dumb questions when it comes to acquiring a timber boat – everyone starts their learning process somewhere. Also, I have found often the brokers don’t know a lot about timber boats anyway. Kiss lots of frogs, because every time you look at a boat you will learn something and pick up good ideas. When you do find a boat you fall in love with – which will inevitably happen - speak to people who know her – anyone that built it, renovated it, worked on the engine, surveyed it, did the electrics – anyone who has worked on your new love. Finally remember that there is no perfect boat – just like any long lasting love – every vessel will require a compromise in some way.

Rule Number Five-Don’t buy a project

If you are new to wooden boats, don’t buy a project. Do that after you’ve owned one for a while. Both of our boats had been extensively renovated at great expense just before we bought them. This cost does not get added to the purchase price. It just sets the benchmark as to where it should have been anyway. So don’t buy a boat that needs work, buy one that has been done already.

Rule Number Six-Arrange an independent survey

Any serious vendor selling a boat will provide a survey. But don’t use it to make your final decision. It can be a part of your decision process as you weigh up options. When you are ready to make an offer – and always go low, but you know that… Any offer should be “subject to survey”. Then find the best timber surveyor you can and attend the survey with them. You can then ask the surveyor lots of questions during the process. You can learn a lot from a good surveyor.

Rule Number Seven-Get a good hand over

The hand over for our first boat was really poor because we didn’t ask enough questions. We felt dumb asking them. But every old vessel will have its nuances. Things like manoeuvring at slow speeds and in reverse, anchoring, hoisting sails, cooking, using the electrics, where things are best stored – you will only get one chance so ask lots of questions.

Rule Number Eight- The Maintenance budget

We have found that you will need to spend at least 10% of the purchase price annually running and maintaining a timber boat. Our first boat cost us $88,000 and we have spent $135,000 on her over 12 years. This includes everything – capital upgrades, mooring, insurance, antifoul, engine servicing etc. So the formula holds. The good news is that she is now worth more than we originally paid, not that we have any intentions of selling. Plus if you split it for ways, say it really quickly and don’t tell you partner – it doesn’t hurt that much.

Rule Number Nine-Use professionals

Unless you are a tradesman or timber expert, minimise DIY because it shows. Overtime there will be somethings you can do – like simple painting - but we have found that using shipwrights, marine mechanics and marine electricians is always worthwhile.

Rule Number Ten-Encourage extensive use

Our group of custodians has no limits on usage. Each boat can be booked online. On the infrequent occasion there is a conflict, it is easily sorted with a text or phone call. Having people on the boats turning locks, starting engines, switching on electrics, lighting stoves, trimming sails etc etc,- keeps things operational. When something breaks it needs be fixed of course. But we have found that the time when problems usually happen is during periods of lower use.

As you will have gathered by now, I am a big advocate of syndicates owning timber boats. This ensures they are used more, with maintenance and cleaning etc spread between members.

*MARGARET C after she was restored to become a day boat. Her first life was as TV studio for Brownies Weather Report in Brisbane. (Circa 1990)*

*And as she is today as a family picnic boat on Pittwater and Sydney Harbour.*

Over 12 years we have had three changes of people in our syndicate. The model has worked so well, we have seen numerous other syndicates evolve from to own and enjoy their own timber boats.

So there you have it. This advice is all quite obvious. But I wish I knew it 12 years ago.

I am looking forward to running into that shipwright again in the future. Hopefully its not at a wake, just a yacht club bar somewhere. Then I’ll delight in telling him how much fun we have had over the last 12 years and that we now have two boats. In fact, I am so excited and really looking forward to the next 12 years of our custodianship.