This 50' DREAM YACHT SOLD For ONE DOLLAR [Full Tour] Learning the Lines

**Update** The boat has been moved by the new owner. **

When I filmed and edited this video, all I knew about the boat was what was on the papers on the stern that you can see in the beginning of the video.

Those papers clearly state “For Sale $1.00” and also, “Owner: Koehler Kraft.”

It’s become clear that those papers were misleading and that there are a lot of legal hurdles to get through to take possession of this vessel. I advise anyone who wants to take this project on to get a good lawyer to assist them.

Please see the information that KKC wanted me to add below.

**7/12/21 KKC Update**

“The boat is still available to the first person to come and tow it away.

Here is what you need to know about acquiring Gypsy for a restoration project:

1. Unfortunately we do not have any space in or out of the water to store this boat. It must leave our facility immediately. The diesel engine is not reliably operational at this time. The boat must be towed away.

2. Any party requesting a complete restoration by our yard, be advised, we have restoration projects under contract that are utilizing all of our resources for at least the next 6 months. A restoration to top condition would cost at least $175k. If you are prepared to contract the work with the yard and post a retainer the yard will facilitate storage options at your expense.

3. The last owner of the boat was not a US Citizen and left the USA. We have not been able to contact him. This makes acquiring a new title difficult. It is a long and costly process that we are not willing to undertake at this time. Whoever acquires the boat will have to to arrange the clear title.

4. Dry storage would be the best option for a do it yourself restorer. There are several inland storage facilities that exist where the boat could be transported. Once moved, the restoration work could be done there be yourself or a contractor of your choice. I would guesstimate the cost to decommission and move the boat inland would cost $4-5k. Inland storage typically costs $1000-2000 / month depending on location.

5. We have not inspected this vessel and make no guarantees as to its condition. It does appear that many hours and money have been spent restoring this boat. There is considerable work to be done.

6. Owning a 50’ sailboat is not an inexpensive endeavor. Slip rent insurance and basic upkeep would be in excess of $2000/month for a boat in good condition. You would need to budget for this and have a minimum budget of $50k in addition to monthly expenses if you were to take the boat inland for DIY restoration. If you are not a lover of vintage vessels do not pursue ownership of this vessel. ”

**7/8/21 KKC Update**

“1. This boat was abandoned at KKC facilities. The owner has defaulted on his contract with KKC and is believed to have departed the USA indefinitely. He is not a US citizen. KKC has exhausted all resources to locate him. There is not a title for the boat, the party who takes possession will be solely responsible in acquiring a title.

2. KKC is not selling this vessel. Any party who assumes responsibility for the vessel will remove it immediately from KKC property. KKC will release any lien against the vessel upon its departure.

3. KKC is not in a position to perform work on this vessel.

4. The vessel is available on a first come first serve basis. The party will remove the vessel promptly at their own expense.

5. Any temporary accommodation of the vessel could be considered by KKC president with the following conditions:

-A minimum cash retainer of fifteen thousand dollars will be paid to KKC to be used to dispose of the vessel in the event the owner defaults with any contract or agreement with KKC and or any damages to KKC facilities, property or any third party property.

-The owner will pay KKC short term accommodation fees of $2/foot per day. An agreed upon length of stay will increase at a rate of $1/foot/day after the end of term.

-Any work performed to the vessel must be pre-approved in writing by the president of KKC

-Any person working on the vessel must be insured and name KKC as additionally insured.”

Info:

LOA: 50′
Draft: 7′
Beam: 11′ 6″
Designer: George Lawley
Builder: Lawley Shipyard
Construction: Wooden Planks on Frame
Year: 1934

Historic Highlights/Info

George Lawley and son was a shipbuilding firm operating in Massachusetts from 1866 to 1945. After George retired, his son, grandson, and great-grandson continued the business until 1945. Hundreds of boats were built there including two boats that won the America’s Cup in 1885 and 1886.

This boat is currently in San Diego, CA and under the ownership of Koehler Kraft. Their contact information is below.

https://www.koehlerkraft.com/
[email protected]

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