Classic Yachts: The Yachts to Choose for Lake Michigan Sailing

You might think that in the sailing capital of the great lakes, which Chicago is, most of the boats would be shiny new ones. Not so. Most of the experienced sailors are choosing older yachts with classic sailing characteristics. Well built, well maintained homes have long lives, and in most communities, the homes built a generation ago far outnumber recently built homes. So it is in sailing. Well built, well maintained sailboats also have long lives. In Lake Michigan harbors, the number of yachts built a generation ago far outnumber recently built yachts. Monroe Harbor is no exception. The majority of yachts in the harbor were built in the 60's 70's and 80's. You can even see wooden boats from the pre-fibreglass era. In other words, most sailors in the harbor are already sailing boats we might now consider classic. They buy them, keep them, and often refit and treasure them. Classic boats are actually the norm, not the exception.

Not every boat built a generation ago is still around. Ones that were not well built or not well maintained probably went to the boat graveyard years ago. It takes time and money to maintain and update yachts as they age. But the overwhelming presence of older yachts in our harbors, is evidence that this is what sailors do. We believe this is partly attributable to the sailing characteristics of these yachts, and partly because of their value retention. Let’s start with value retention.

Classic Yachts: Value Retention Means Lower Leasesharing Rates

New yachts do have their advantages, but value retention is certainly not one of them. Unlike your home in which you might expect significant appreciation in value over the years, yachts are declining value assets. And you don’t have to wait long to see the loss in value. New yachts can take huge depreciation hits early on. For example, a new 37 foot production boat of the type popular in charter fleets might be purchased new, fully equipped for about $150,000. But many of these boats, just a few years old, are listed (e.g., in the September/October 2003 issue of Northern Breezes) at about the same price as similar sized classic yachts twenty or more years old. Leasesharing rates have to reflect that rapid rate of depreciation. In contrast, the value retention in our Olson’s Classic Yachts fleet translates into lower depreciation costs for us and very much reduced leasesharing rates for you.

What Makes Classic Yachts Special?

Classic yachts offer more than the most value out of your sailing dollar. Classic yachts, like classic cars, are a breed apart. They become classic because of the way they look and the way they sail.

Most new yacht models don’t end up being considered a classic, and some yacht builders never aspired to produce boats that might someday become classics. Like some Christmas toys that have served their purpose by New Years Day, some yachts offer exciting designs to sailors who need something new and different to keep their sailing interest alive. Classic yachts, on the other hand, tend to be of a different breed. They are more like yesteryear’s Erector Set toys or Lego Blocks of more recent vintage. On rainy days children would come back to them again and again, because they provided opportunities for them to use their imagination and stimulate their creativity. These toys were never throwaway, so they had to be built to last and take abuse that would destroy other toys.

The enjoyment promised by classic yachts is less obvious than the newness shouted by the shiny new yacht in the harbor. With classic yachts the promise isn’t about newness. It’s about the sailing. Yacht models become classic at least partly because they let you experience in rewarding ways new challenges and thrills of sailing. No matter how many times you’ve sailed her before, a classic yacht promises new challenges and thrills the next time out. For that reason they have appeal that endures.

A few yacht builders produce yachts that almost invariably become recognized as classics. Hinckley and Sabre yachts come to mind. Yachts from these builders into their fourth decade are still selling in six figures. Don’t expect any yacht builder to tell you that the appeal of the boats it builds is likely to fade fast. But if owners and would be owners of recently built models seem to put great emphasis on just how recently it was built, rather than on how it was built to sail, you might be justifiably suspicious of a throwaway mentality. After all, if my year 2000 version has lost so much appeal and value in three short years compared to your year 2003 version, how likely is it that the appeal of this model will stand the test of time over the next four or five decades?

Form follows Function

Just as car collectors’ eyes light up at the sight of a ‘57 Chevy or a vintage Corvette, sailing afficionados heads turn at the sight of the smooth, low-slung lines of a classic yacht. These are boats you picture yourself on when dreaming of sailing into the sunset. These boats are pretty, in the way a sailboat was meant to be pretty. Newer boats, with their squared off lines and wide beams, can build in more cabin space. But they sacrifice not only the graceful lines that capture the imagination of sailing enthusiasts, but also sailing characteristics that serious sailors seek.

The sleek lines of classic yachts result from form following function. Just as the looks of BMWs and Audis derive from the performance they are intended to deliver, the form of a classic sailing yacht derives from the function envisioned by her designer. Qualities that give a boat classic eye appeal tend to be ones that designers incorporate when they are as concerned with getting captain and crew through a squall as with creature comforts . Narrow beam with low freeboard, long boom and large mainsail mark a boat designed to slice through waves better, heel less in serious gusts, and sustain a greater heeling angle without a knockdown. Even the rounded bow overhang has a purpose. It reduces pounding in heavy seas. And that skeg rudder underneath the stern? It helps maintain a balanced helm in heavy weather.

Harbor huggers may not think they need performance and handling characteristics built into classically designed yachts. Racers, too, in their quest for speed around a short course, may give priority to other features. But for serious sailors who really want to sail, miles away from the harbor, and minutes from a sudden squall, these are boats built for you.

You can still find both the classic look and classic sailing characteristics you want in a new boat. You might have to think Hinckley, however, with a starting price higher than the value of your house. For the rest of us, there’s Olson’s Classic Yachts. Dollar for dollar, we challenge anyone to match the lifestyle and sailing thrills of a sailing summer with us.