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Year: 1994
Make: Inace
Model: 73-foot Yacht
Vessel Name: Apricity meaning of the name;
"The warmth of the sun in the winter"
Model: Both engines are Detroit Diesel 12V92
12-cylinder
3 Bed 3 bath
Apricity is here on consignment from a local who has owned the boat since 2018. He recently started a large real estate project and doesn't have time for yachting. Hence the sale.
Inace yachts has been in business for over 52 years. They are built in Brazil at the Inace shipyard;
The company builds superyachts, military ships, ferries, and commercial freighters.
Apricity is an all-aluminum yacht. She is constructed entirely out of thick marine-grade aluminum.
Aluminum support beams, decks, superstructure, everything. Wood was not used in the construction.
She was shipped to Fort Lauderdale, Florida on a large freight ship.
Apricity was christened and delivered new to an industrialist from Michigan who had a vacation estate in Miami.
After two years of going to the Bahamas and Key West the industrialist decided to take Apricity to Lake Michigan where he had more time to enjoy her. He also wanted her to live in fresh water.
In 2009 Apricity was sold to it's second owner who lived in Fort Lauderdale, Florida. There Apricity was slipped at the Yacht Club. She made several voyages to the Bahamas.
In 2018 the current owner purchased Apricity and brought her to Sarasota, Florida. Over the years the owner made several updates to the interior.
Now six years later, he has realized that Apricity deserves a new owner because he simply doesn't have time to enjoy her.
There is some deferred maintenance now because of the non-use of the ship.
As a buyer you want to know the BAD STUFF first about the yacht...right? Let's get that out of the way right now to preserve time.
This yacht will need attention to many aspects of the vessel. Hence the very reduced quick-sale price.
If you are looking for a yacht ready to motor anywhere right now this is not the yacht for you. I apologize right now for being so direct, but I want buyers to know this is a project. One you can move onto today as a live- aboard, but she's not going anywhere soon.
She's not going to get to a haul-out lift for a survey under her own power. The nearest lift to put her 'on the hard' is 2 hours away at 10 knots speed. This vessel will need to be survey in the slip where she sits now. You can get a diver for your bottom inspection.
This is not in leu of a survey; these are my
observations as a large older yacht owner myself, my experience with older yachts, and what the seller has explained to me; (these are the negatives)
the built-in air conditioning system onboard does not function. A new chiller was purchased three years ago, but never installed. Instead two mobile air units were installed to keep the boat cold. Also, a dehumidifier was installed to keep humidity out.
the Hydraulic steering system is inoperable. It's a Hynautics brand system. There are local specialist who service these systems. It could be as simple as the pressure canister needs air pumped into it to bring the PSI up - the PSI gauge now is at zero. Or it could need replacement lines, or new cylinders. Or a new steering pump at either helm - upper or lower. My guess (not blowing smoke) is that the system needs to be re-pressurized. Then is there an air leak in the system?
neither the big generator or the small generator have been started in three years. The seller tells me they do not start. I would start with replacing the fuel filters and the fuel lines coming from each generator's saddle tank. I would also clean the tanks and put fresh fuel in before trying to start them.
the seat cushion for the fly bridge are missing. They were taken to an upholstery shop by the seller's former assistant three years ago and the seller doesn't know where that upholstery shop is and has no idea how to contact them. A qualified marine upholstery shop can measure and make new cushions.
the electronics are as old as Jesus. None of it works except for the 2-year-old Garmin GPS on the lower helm.
the last time the bottom paint was done is three years ago. When she went on the hard she got new bottom paint, and all the through hulls were serviced.
the fuel in the main tank is 5 years old. The Racor filters have not been changed since 2020.
The seller took all of the cleats off the yacht to have them chromed. That was five years ago and where his assistant took them went out of business. All are unfortunately lost.
the davit is not functional - the cable has unwound. Seller says the motor works, but the cable needs replacement.
a 24" section of the chrome rub rail is damaged because a neighboring boat hit it just enough to bend it - luckily no damage to the aluminum hull.
the seller has not used the windlass in 5 years. He says it will need repair. My guess is the power to it is lost ~ but maybe the motor needs replacement.
the sunbathing area on the bow is 5 years old, but
needs replacement - the foam has partially
deteriorated.
Now I'll spend some time talking about the good things:
no leaks from rain into the boat. This is
characteristic of aluminum yachts.
both engines run great (with no resistance) - the seller starts the engines every month to not let them sit. I checked the oil and the levels are good. Engines will need an oil change before the boat goes out to sea.
both transmissions work fine. The boat can actually
be moved using the two engines with which to
steer, but not for any distance.
comment; Apricity is a fast yacht with the V12's. Personally I think the 8 cylinder Detroits would have been plenty. The original owner wanted to go fast in a 73-foot yacht - no wasting time I guess.
the interior is good looking - it's not stinky and all ratty-looking like some old neglected yachts. It was updated a few years ago and shows well.
Impressive for having co*cktail parties and having guest spend the weekend on as a guest house.
the canvas cover over the custom aluminum flybridge cover is in good shape, no tears or rips - just needs careful power washing top and bottom to remove the grime.
the ship does not list to port or starboard - she sits nice and straight in the water. Well balanced weight design. I cannot say that about every yacht.
divers are cleaning the bottom each month on schedule.
Okay, what most buyers have been waiting to hear about; OWNER FINANCING
Truthfully I'm sure you've seen that owner financing of yachts is rare, if not impossible to find. It's risky to have seller's finance yachts because they could end up anywhere in the world and repossessing them could be impossible. This seller is willing to give a good buyer the chance.
Let's talk about the current slip fee's and insurance - then we'll get into the structure of the owner financing.
The slip fee now at Marina Jack in Sarasota, FL is $3,000 per month. The seller wanted this slip because of it's location within the marina, it happens to be a 100-foot slip, so a 73-footer is paying for a 100-foot slip. If you move Apricity to an 80-foot slip you'll save $300-$400 per month.
The seller has an insurance policy through State Farm whereby no survey is needed. As long as the value of the yacht doesn't go over $400,000. The monthly premium is currently $800.
Bottom cleaners are $300 per month.
Monthly Slip Fee.........$3,000
Bottom cleaners....$300
Insurance..................$800
$4,100 total
OWNER FINANCING
20% down of the sale price = $40,000
Loan amount = 160,000
Monthly principal and interest = $~2600
Loan term = 30 years with a 7-year balloon, no penalty for early payoff. Buyer is responsible for insurance, slip fees, and divers and deals directly with those vendors. Seller is 'named insured' in case of a claim.
Who would be a good fit for buying this yacht?
Someone with the desire to have a yacht to
entertain on that's stationary at the marina where Apricity is now. That same person might have the desire to live aboard and do lots of the work themselves while hunting down the service specialist looking for 'moonlighting' type work. As a yacht owner myself I have a list of 'moonlighter' specialists for specific repairs. I do not work with those retail foo foo yacht repair companies. The retail service companies will take your arms, your legs, plus your genitals. They are poisonously expensive.
This buyer probably sees the upside of resale after she's fixed up, but not solely buying her for that
reason.
This buyer has to have enough capital to make repairs they want to make. Her new owner does not need a desire to ever take her anywhere, and may want to simply enjoy her as she is now.
A buyer who would struggle getting a loan to buy a yacht will appreciate the owner financing. Also, a buyer who likes owner financing because it doesn't show up on the credit report as debt - it could keep the buyer's debt-to-equity in check.
Summary:
Here's an opportunity for someone who wants to own a yacht for a fraction of its retail fixed-up value. With a 20% down payment the seller will be the lender. No drawn out loan approval by a bank that will turn down nearly every buyer anyway. Banks do not like to lend on old yachts that need work.
This is not a good opportunity for a picky buyer wanting to buy a yacht that's ready to use. There are some wonderful fixed up yachts on the market that would be more suitable for those buyers wanting a ready-to-go yacht.
We are asking $160,000, feel free to schedule a time with me to come check this boat out! Thank you for reading.
