I have given this a lot of thought since buying our first trawler a year ago. We were previously sailors. We had put our ceiling at the $200K level. We wanted to have it all, which to me meant hydraulic stabilizers and plenty of room. We settled for a 2003 OA 456 that had been retrofitted by previous owners into a helicopter carrier.
The previous owners had done a lot to the boat, some good, some bad, some so, so. They threw away the mast and put in a radar arch in the front and installed a hardtop that lowers hydraulically so that the helicopter blades would clear the roof. They added:
-hydraulic stabilizers
-rocker stoppers for stabilization at anchor
-an additional 6kw northern lights gen set - in addition to the 12 kw northern lights on board
-two 18KW ACs in the flybridge
-ice maker in fly bridge in addtion to the icemaker in the salon
-corian counters in heads and galley
-micro commander electronic throttles
-24-volt bow thruster
-sat tv
-sat telephone
two televisions - one of which is a pop up in the salon
- two spare propellors
- a supply of service spares that will last me literally years
- oil change pump
- fuel polishing system
- 4 plugs for 24-volt fishing reels in the rear cockpit
- 12-foot dinghy and nearly new 15hp yamaha
- 12 volt watermaker
- Backup radar (go figure)
In short I got a lot of features for the money. But I also recognized that the boat would require lots of work and sweat equity to bring her back to a somewhat representative state. The owners had altered the trunk cabin to accommodate the helicopter. It took me four weeks of cutting and sanding and filling and more sanding and more filling to get the trunk cabin deck faired right.
I am now in the process of painting the boat (OAs gelcoat during this period was extremely poor). I am working with the painter and thus keeping my costs as low as possible. I think in the end, we are going to have a gorgeous boat and will have a low investment compared to what it might have taken to get a boat of like age, accoutrement, (low hours on the engines) and utility.
However, As I was sweating in my protective suit and air mask, reforming the trunk cabin, I wondered if I would have been better off buying a more expensive boat that was ready to go. Time will tell.
When we bought our boat, a friend boat a 98 KK 48 for I think about $450K (guessing at this). The boat is perfect in every way. The boat looks new inside and out. The PO really new how to care for a boat. The word anal comes to mind.
I suspect that after 10 years my friend's KK will have a residual value of $300$ - $350K while my boat maybe $125 - $150. I suspect we will have both lost about the same amount of money after 10 years of use. I am of course making up these figures, and we will have to see, but, perhaps a larger initial outlay would have given me less work, same amount of boat, and in the end, I would have ended up in the same place. (This thought does not include opportunity costs for me investing the $250K during the same period, however. For many this will not be a consideration.)
One thing I have learned about boating through the years, and I am now on my third boat, is that buying a boat is easy, and selling a boat can be hard. A KK will probably sell easier than an Ocean Alexander. Whether KKs are superior boats, is a subjective judgement and depends on how you plan to use it. But what I know, is that the market perceives KKs to be superior, regardless of my thoughts, and that will provide a higher resale, all other things being equal. (Truth be told, I like most things about my boat and prefer my layout to the KK. I also like the idea that I can go 15 knots if I need to while he might be able to go 8 knots. I spent two weeks on a friends newer 48 foot KK taking her from Norfolk, to Miami, and so have some idea about the boat.)
Buying boats is an emotional thing. If you are a boat person, boats will speak to you. You will instantly recognize the beauty of your new boat and feel proud when you approach her from the dock. You will love the aesthetics of your chosen boat, from the color to the way the bow cuts the water. You will love the rumble of the diesel starting and the hum she makes when under power.
This is a bit of a ramble, but provides, I think, some food for thought. Buy the boat you want, but remember that you will put a lot of money into the boat and that eventually you will want to sell.
I would never buy a boat that did not speak to me, but I also would not buy a boat I think would not resell when I am done.
Also remember that the quality issue is really one of perception. Most builders buy the same components.
Gordon