Come join the fun at Gravenhurst show

2011 ISSUE NO. 2
2011 ISSUE NO. 2
Below is a list of upcoming events that Hagerty is
planning to attend. Dates are subject to change.
post o f f ice bo x 8 7
trav erse city, michigan
49685
PRSRT STD
US POSTAGE
PA I D
Mt. Arlington, N.J. | www.lhacbs.org
ACBS Lake Hopatcong Antique & Classic Boat Show
Algonac, Mich. | www.michacbs.com
ACBS Michigan Antique & Classic Boat Show
Gravenhurst, Ontario | www.acbs.ca
ACBS Toronto Antique & Classic Boat Show
Portland, Ore. | www.cwc-acbs.org
ACBS Portland Antique & Classic Boat Show
Lake Winnipesaukee, N.H. | www.necacbs.org
ACBS New England Antique & Classic Boat Show
Clayton, N.Y. | www.abm.org
Antique Boat Museum Show & Auction
Traverse City, Mich. | www.wwcacbs.com
ACBS Water Wonderland: Boats on the Boardwalk
Hessel, Mich. | www.lchistorical.org
Les Cheneaux Islands Antique Wooden Boat Show
MIDLAND MI
PERMIT NO 16
the
W W W. H A G E R T Y M A R I N E . C O M | H A G E R T Y C L A S S I C B O AT I N S U R A N C E
inside
A Letter from Carla
Marine Marketplace
Come join the fun at
Gravenhurst show
of the annual classic boating event that’s held there
Pewaukee, Wis. | www.glacbs.org
ACBS Pewaukee Lake Antique & Classic Boat Show
In celebration of our new Canadian classic boat insurance program –
underwritten by Aviva Elite of Canada – Hagerty Classic Marine has
become a sponsor of the ACBS Toronto Chapter’s summer boat show
in Gravenhurst July 8-9.
Lake George, N.Y. | www.acbs.org
ACBS Adirondack Antique & Classic Boat Show
Buffalo, N.Y. | www.acbs.org
ACBS Niagara Frontier Antique & Classic Boat Show
The event will kick off with the annual friends’ reunion at the Grace
& Speed Museum on the Muskoka Wharf on Friday evening, July 8.
The following day, the Antique and Classic Boat Show – themed “Fine
Lines: A Celebration of the design and documented preservation of
Vintage Boating” – will feature more than 100 boats. It will include the
line drawings and historical lineage of some of the most well-known
Canadian boats.
4
5
6
Survey results shed light on classic
boating community
We asked.
You answered.
Results are in from the
first-ever Hagerty Classic
Marine Hobby Survey, and
you’ve given us a clearer
picture of what you like
most about the classic
boat lifestyle, as well as
what concerns you, what
motivated you to join the
fun in the first place and
what keeps you on board.
visit Gravenhurst, Ontario, already have fond memories
Coeur d’Alene, Idaho | www.cdachamber.com
ACBS Coeur d’Alene Wooden Boat Show
Ports of Call
Hagerty Canada
Those of us at Hagerty Marine who have been fortunate to
Losses and Lessons
2
2
each summer. And we’re ready to add more.
The show will also include Hagerty’s Operation Ignite Youth Judging,
which is exclusive to ACBS Chapters across North America. In addition,
there will be a series of seminars on classic boats, as well as many vendors
offering goods and services relating to the classic boating lifestyle.
For more information, visit www.acbs.ca/Shows/Boat-show
or call ACBS Toronto at (416) 299-3311.
Come join us for some fun at Gravenhurst. We’d love to see you.
“This study has allowed us to take the pulse of the classic boat community. Some things we expected;
some came as a surprise,” said Carla Gernhofer, Vice President of Hagerty Marine. “The key is what
we do with what we’ve learned. For us, it has always been about our clients, and now we know more
about what they value most. Ultimately, they will benefit from this information.”
A total of 1,400 current classic boat owners completed the comprehensive, anonymous survey conducted
by Avenue ISR, a third-party research company unaffiliated with Hagerty. Participants were recruited
through the Antique and Classic Boat Society, the Chris-Craft Club and an online link at woodyboater.
com. Hagerty clients were also invited to take part.
The basic demographics came as no surprise to Gernhofer and Chris Schmaltz, Hagerty Marine Sales
and Marketing Manager. Classic boat owners are mostly male (93.5 percent), Caucasian (91.7 percent),
college educated (93.1 percent) and married (82.5 percent). On average, they’re 58 years old with a
median income of $112,500. In addition, nearly three-fourths of classic boat owners surveyed have
owned their boat(s) for six or more years (74.4 percent).
CONTINUED>
Marine_Watch_Q2.indd 1
6/13/11 3:52 PM
a letter
from Carla
> Survey says continued
Gernhofer finds it encouraging there are
plenty of fresh faces joining the classic
boat lifestyle (25.6 percent are relatively
new), and the majority of these newcomers
are women. They’re also younger, on
average, than longtime owners.
Greetings to our clients and friends!
As I write this, spring
is off to a very slow
start here in northern
Michigan – where in the
heck is the sunshine? I
truly can’t complain,
however, knowing that
many of our friends and
clients throughout the
country just experienced firsthand the worst
year of storms on record. Please contact us
if you have any issues with your boat. We
pride ourselves on delivering exceptional
customer service, and we’re here to help
in any way we can.
Be sure and check out our “Ports Of Call” to
find out when and where you’ll see the
friendly and helpful Hagerty team this
summer. Whether it’s me, Chris Schmaltz
or one of our field representatives, please
stop by to receive a “Got Wood?” license
frame and a personal “thank you” for your
support. We are excited to attend many
events for the first time this year, including
Gravenhurst, Ontario.
18-foot 1952 Chris-Craft Riviera
The Chris-Craft Riviera was a fairly popularstyle runabout during the 1950s, and from
1950-54 the production run totaled a solid
1,210 (hull numbers R-18-001 to R-18-1210).
This style features natural mahogany sides
and top deck, with the distinctive blond king
plank, narrow on the fore deck and wide aft
of the cockpit over the motor hatch and back
of the transom.
This turn-key boat is in beautiful “show
condition.” It has all the original wood from
the waterline up, including hull and top decks,
which have been meticulously refinished. The
bottom was completely replaced with new
3M 5200-style construction. This boat has a
KLC 120hp motor that has been completely
rebuilt and has only 15 hours of use. It has
the correctly colored red interior with all
other period and production items correct,
including waterline and bottom paint. The
sale also included a 2011 C-Hawk custom
single-axle trailer.
The boat’s new owners own a marina and are
dealers for contemporary Chris-Craft boats.
When not in use, this boat will occupy the
sales floor next to the new boats. It will provide
a fine example of one of the more popular
vintage models.
$35,000
Other Rivieras in different sizes – as well as
similarly styled models like the Capri – never
came close to attaining the same popularity as
this model. There are currently 97 of them listed
in the 2011 ACBS Directory, so fewer than 10
percent survive. These boats always command
a lot of attention and the market remains
strong. Considering the 2011 Hagerty Classic
Lifestyle Survey indicated the average value
of all classic boats is $36,000, the price paid
for this Bristol-condition Riviera is a bargain.
— Lou Rauh, Antique Boat Center
In this and future issues of The Watch, look
for some interesting findings from the
Classic Boat Lifestyle Survey that Hagerty
sponsored this spring. The data gathered
sheds light on what you, as a community,
find important and necessary to sustain
what we all hold dear.
What motivated owners to buy a classic
boat? Two-thirds of survey respondents
cited one of three reasons: visual appeal
(“I just like the way these boats look” – 30.8
percent), personal nostalgia (“It reminds
me of/connects me to an important time
in my life” – 25.5 percent) or historical
importance (10.6 percent).
Asked if they “have ever restored a classic
boat,” 64.5 percent of respondents said
yes. Some did the work themselves; some
hired it out; and others did some of both.
Another 15.1 percent claim they “own at
least one boat that is perfectly preserved,
including original varnish...” Both of those
figures surprised Schmaltz.
“The restoration number seems low,
considering that the majority of classic
boats are restored to some degree,”
he said. “And the ‘perfectly preserved’
number seems high. There has been a
lot of discussion about what constitutes
original, so this may spark more debate.”
According to the study, the average classic
boat is worth $36,000 and most (87.3
percent) are valued at $20,000 or more.
There are plenty of high-end vessels out
there, too – nearly 20 percent of the classic
boats owned by respondents are valued
at more than $40,000.
And what boats are most popular? Clearly,
Chris-Craft rules. In fact, 40.2 percent of
the boats owned by respondents are ChrisCrafts – more than the next 10 makes
combined. Century is second on the list
at 10.2 percent.
In our Fall 2011 issue we will announce the
newest members of the Hagerty Marine
Hall of Fame. Inductees will be honored at
the ACBS Annual Meeting in Lake Geneva,
Wisconsin. See you there!
And those boats rarely sit in showrooms.
More than 80 percent of all classic boat
owners put their vessels in the water in
2010, and over 50 percent had their boats in
the water for five months or more – mostly
on inland lakes (79.2 percent) in one of 10
states (Michigan, New York, California,
Washington, Wisconsin, Florida, Ohio,
Minnesota, Texas and Massachusetts).
Safe boating,
“It’s clear that nothing stops classic
boat owners from enjoying their boats,”
Gernhofer said. “Not even the poor
economy.”
Carla Gernhofer, VP
losses & lessons
Accidents happen. That’s why we work to ensure
that our clients’ prized vessels are properly covered
should disaster strike.
Survey prize motivates winner
to begin restoration project
R. Warren Walker’s opinion is worth a lot
more than he thought it was.
“TRIPLE THREAT: FALLING SNOW, RISING
WATER & COVERED SLIPS”
Walker, of Waterford, Mich., took the
Hagerty Classic Marine Hobby Survey this
spring and won a $500 West Marine gift
card after his name was drawn at random
from all survey participants. It shouldn’t
take him long to spend his prize.
“I have a Wagemaker Wolverine that I’d
like to restore, and this is the seed money
to get that started,” Walker said. “It’s a dual
cockpit – very neat boat but in pretty rough
shape. I’m not even exactly sure of the year,
but I’ve narrowed it down to 1951-57.”
“It’s a beautiful boat,” Walker said. “I really enjoy
taking it to shows. I get a lot of compliments.”
Walker’s favorite boat is his rare 1957
Tonka Craft (pictured). The14-foot Mata
Hari, known as “Sea Legs,” was built by
Minnetonka Boat Works in Wayzata, Minn.,
and is one of only six Tonka Crafts listed
in the Antique & Classic Boat Society
member directory.
He’s already thinking about a name for his latest
restoration project.
The statistics back that up, as 62 percent
of owners say “the economy has had no
impact” on their classic boating behavior. In
fact, the average classic boat owner spends
$11,000 per year on “goods, services, boats
and other things that further their enjoyment
of classic boats.”
The most popular classic boating clubs
(respondents were asked to report all
memberships) are the Antique and Classic Boat
Society (70.9 percent), Chris-Craft Antique Boat
Club (26.6 percent), Century Boat Club (7.1
percent) and Lyman Boat Owners Association
(2.6 percent).
“It’s clear that nothing
stops classic boat owners
from enjoying their boats,”
Gernhofer said. “Not even
the poor economy.”
While more than 35 percent of classic boat
owners also own a classic automobile, they
are more likely to join a boating club than
a car club. In fact, a vast majority of classic
boat owners (73 percent) belong to one or
more clubs. In a recent Hagerty-sponsored
study focusing on the automobile side of
the business, only 50 percent of classic car
owners reported being a member of a club.
“Considering the shape it’s in, I think when I’m
finished I should name it ‘Bits and Pieces.’ ”
— Jeff Peek
Gernhofer said two survey statistics are hard to
ignore: 50.6 percent of classic boat owners are
concerned about alternative fuels like ethanol,
and nearly one-fourth of classic boats purchased
in the last two years were found on craigslist
or eBay.
“I’m not surprised that boat owners are so
concerned about ethanol in fuels,” she said.
“In addition to the same problems that plague
collector cars – it corrodes fuel lines, gaskets and
seals and loosens debris in the fuel system –
ethanol can often damage fiberglass fuel tanks.
“And the fact that so many boats are being
purchased through craigslist and eBay might
speak to the economy. Sellers are trying to get
every cent they can without going through a
broker, and buyers are looking for bargains.”
Hagerty Marine
2
Marine_Watch_Q2.indd 2
call: 800-762-2628 or visit: www.hagertymarine.com
Hagerty offers ACBS members a 10% discount on premiums. Call to learn more!
— Jeff Peek
Mother Nature dished out just about everything she possibly
could this winter and spring. Record snowstorms and rainfall were
common across much of the country. Some major rivers reached
record flood levels and late-season snow caused additional
concern for owners of cruisers. Why? Because it’s common for
cruiser owners to keep their boats in the water in year-round
covered slips. Generally, that’s a pretty safe place for them to
be … unless unusually harsh weather hits. And the risk increases
if the construction of the slips is sub-par.
A few years ago, a late-season snow storm hit many regions of
the United States. In marinas throughout the Midwest and East
Coast, literally hundreds of covered slips collapsed on boats,
either crushing them or, worse, pushing them to the bottom.
The “Lucky Irishman” (pictured) was docked in a marina in
Georgetown, Md., and met such a fate. The roof of the slip was
constructed of light-gauge metal designed only to protect the
classic cruiser from rain, not snow. The ensuing collapse caused
extensive structural damage, and the now “Un-Lucky Irishman”
was deemed a total loss.
Rising water from heavy rainfall can cause similar problems. As
the water level rises, boats rise with it – and sometimes keep
rising until they reach the roof of the covered slips. Most often,
the roof will hold the
boat down until the
water is able to find
its way inside, and
within minutes the
boat fills up and sinks.
While the cost of
“storing” your classic
in a covered slip is
generally reasonable,
do your due diligence.
Examine the condition
and construction of
the covered portion of the slip. How old is the structure?
Depending on the state in which you live, the facility you’re
considering may have been constructed when more lenient
building codes were prevalent.
Also, be aware that the Marina facility may ask you to sign a
“hold harmless” agreement stating they will not be responsible
for any losses to you or your property, even if there is negligence.
Should you be asked to sign such an agreement, contact us. All
insurance policies contain clauses that state you cannot waive
the rights of the insurance company to recover cost. And even if
that weren’t the case, marine facilities are obligated to maintain
the facility in reasonable condition.
Be safe!
Christopher Schmaltz
6/13/11 3:53 PM