Valuation

Valuation

Original Sail Plan L’Odyssée 1935

If you have a closer look at the original Sail-plan of L’Odyssée from 1935, you can notice the 3 Headsails configuration, with a self tacking boom for the Staysail and a diamond standing rigging on the Main Mast.

2 Old Head Sail Configuration from the time with Aluminium Mast. You can see the different colour of the Head Sails and the Main and Mizzen Sails. No Self Tacking Boom on the Staysail but just a track with pully. At last notice that the Yankee (Sail most in the front) is not going al the way to the top of the mast.

At the moment L’Odyssée is not rigged like that and only has 2 front sails without a boom for the Stay Sail. I have the boom for the Staysail in my container, but never had the time to make the fittings and order new Sails.

Staysail Boom without fittings, 2021

Underneath you will find complete drawing PDF for the Sail plan by Theo Rye.

combinepdf

The Performance of the Yacht will be completely different with 3 Headsails and she will have a better C.I.M. Rating (Commite Internationale de la Mediterrée) for Regattas, which will result in higher placement during Regattas.

I will explain this with the following example of 3 measurement or Rating Certificates from L’Odyssee (= L’Iliade) from 3 different Years.

L’Iliade, 2005, with a Rating of 11,27 or APM of 97 s/mile
L’Iliade, 2007, with a Rating of 9,186 or APM of 135 s/mile
CIM 139 / 2008
L’Iliade, 2008, with a Raiting of 9,000 or APM of 139 s/mile
  • L’Iliade, 2005, with a Rating of 11,27 or APM of 97 s/mile
  • L’Iliade, 2007, with a Rating of 9,186 or APM of 135 s/mile
  • L’Iliade, 2008, with a Rating of 9,000 or APM of 139 s/mile

In the year 2005, L’Iliade was still rigged with Aluminium Mast and she had a handicap for not having the original Sail Plan accordingly.

Shorter Booms and Mast, resulting in smaller sail area and unfortunately panalised in the Rating system from the C.I.M. >> Comittée Internationale de Mediterranée…
Old Sail Configuration from L’Iliade, by André Maurice, specifically done for her to sail in the Caribbean where you have more wind than in the Med.

In 2006 and 2007, L’Iliade underwent a mayor Refit as you can read on that page.

The Rating improved from (2005) 97 s/mile (Seconds per Mile) to (2007) 135 s/mile, which resulted that L’Iliade could finally have a bit more fair results, during Regattas, just by changing the Rig Configuration from Aluminium (Not Original) to Wood. Wasn’t cheap, but my father helped a lot.

I found the old Mast of Hallowe’en laying in a Hangar, after the old skipper from Hallowe’en (Timo de Vries) pointed me in that direction. Had a closer look and came to the conclusion that it could fit on L’Iliade / L’Odyssée and it did.

The wooden mast and booms are longer then then the Aluminium Setup, whth the result that L’Iliade/L’Odyssée sails much better in light winds which dominate the Med during the Regatta Season.

So No Penalty but a huge advantage during Reggattas and lots more fun during sailing while she is much faster than before and not being handicapped/penalised.

L’Odyssee is much more joyful to sail in light winds, while she starts to heel over in light winds quicker, which results in a longer waterline and immediately faster.

In 2006 I have also changed the propellor from a fixed 3 Bladed Prop to a Maxprop. A Maxprop is a feathering propellor which, when not under power from the engine has minimum drag.

Maxprop Explained
Old 3 Fixed Bladed Propellor as Spare part in Container.

The Maxprop has hugely improved the Speed under Sail and yacht has not been penalised for this in the Raiting System.

Let’s get back to the 3 Cim Ratings. In 2008 I wanted to improve the Rating with a smart invention and minimum costs. I have been studying the Rules and seen on one other Yacht that they had transformed there Self Tailing winches to Non-Self Tailing winches, with just blocking the Self Tailing part with a piece of rope.

This resulted in a better rating with minimum costs, while we didn’t install new Non-Self Tailing winches and simply removed the piece of rope blocking the Self Tailing part after the Regattas.

One Self Tailing Winch (Barient) and 2 Non-Self Tailing Winches (Barlow), 2021

The idea behind a better Rating for Yachts without Self-tailing winches comes from the idea, that you need 2 people to operate the Non Self Tailing winches and are an older design. The oldest classic yachts sail without any winches and have an even better Rating but they need more crew members.

The whole Idea behind the Rating System in the Med is that they want the yachts to be as original as possible. If a yacht was designed before winches where invented and they have them installed, they will be penalised for not being rigged to their original sailplan.

The improvement from 135 in APM to 139 APM, doesn’t look huge but it can make the difference of becoming 1st or 2nd in a race, so it’s worth doing.

Improve Rating

Lets get back to the original Sail Plan of L’Odyssée. There are still some improvements to be done which could be done when the masts, booms and bowsprit will be taken down.

First of all the Bowsprit is originally a bit longer. This will mean that if you change the Bowsprit to its original length, you need to adjust all the connecting rigging accordingly. 4 Stays in total. These are extra cost but will improve the Sailing drastically, while you change the sail area more to the front.

Besides the standing rigging you need new sails and some minor adjustments.

The Sail Configuration with a self tacking Stay Sail on a boom and the 2 other front Sails will have a better Upwind Performance and will have a better Rating.

I predict that L’Odyssée has not shown anything yet during Regattas, as her real potential has never been revealed and definitely not understood by the Sales Agents.

I have had the yacht for Sale for 1,2 Million and not been able to sell her. Biggest mistake ever, was to listen to my Agent at that time to reduce the selling price from 1,2 Million to 850.000, – Euro in the first place and afterwards reduced it to 450.000,- Euro. Recently my new Agency has reduced the price from 450.000,- Euro to 200.000,- without my approval.

So if you do a search via Google on the yacht you probably will have come across these listings.

Purchase Price

On 14th of May 1999, i made an offer for the yacht L’Iliade of 620.000,- Dutch Guilders, which is converted to Euros just over 280.000,- Euros.

From 24th of May until 27th of May 1999 I have contracted Yacht Service International Limited for a full out of the water Survey as pre-condition for the Sale of the Yacht.

The Survey and Valuation was carried out by Sam West. Underneath you find a PDF copy of the Report and depending on if you look at this on Mobile or Desktop you can zoom in and go through the 37 Pages.

Sam-West-Survey-Valuation_1-converted

The main take-away is the Valuation and the General Condition of the yacht when I bought her. I have to say that after all the work I have done over the last years I truly believe that she is in a much better condition now then when i bought her.

Worth mentioning is that there was a concern about the deck itself and specifically the shrouds holding the mast have formed rust where they go through the deck. All these 16 Steel Shrouds, been replaced in Malta with Stainless Steel Shrouds.

1 of 16 Stainless Steel Shrouds going threw deck, 2021
Stainless Steel Shrouds with Stainless Steel Fasteners running from deck to well down below. 2021

Underneath I have uploaded a PDF file with an overview of the costs of the Refit in Malta, Toulon and Sanary sur Mer. These costs are added up just over 500.000,- Euro.

This is by far not all which I have spent on the yacht but it gives a good idea and overview relating to the text elsewhere on the site, with Refit being the biggest part.

Cost-for-Refit-over-500.000-5-files-merged

Further its worth looking into the following PDF file, which describes the pre-requisites, to get the yacht MCA approved. A lot of small adjustments had to take place before the yacht could be Commercially Registered.

All these adjustments to get the Yacht Commercially Registered are still in place and will make it easier to get her back to commercial status. This is huge advantage over other classic yachts which don’t have these in place.

LILIADE-SCV2-fully-signed-off-3

Engine Room Hatch with Fire Shutters Closed, 2021

Had to close the portholes in the engine room, while the risk in case of a fire the Porthole window could break and get oxygen into the engine room.

Had to install shutters on Dorade Boxes, so in case of a fire you could close the air coming via the Dorade boxes into engine room.

Shutter for Dorade Box with Monkey Fist Pull Knot

Had to install a Diesel Emergency Shutoff Valve for the Day-Tank, operated from outside the Engine Room.

Diesel Emergency Shutoff Valve for the Day-Tank, operated from Cockpit hidden under a removable teak panel.

Had to install a Fire Pump and Hose that could reach anywhere in the yacht to be able to stop a fire with water.

Bronze Clutch driven Waterpump via V-Belt from Main Engine, operating as Bilge Pump or Fire Pump
Manifold for Emergency Bilge Pump or Fire Pump in Engine Room, 2021

Made Blanks from wood for all windows and Portholes to be able to close them quickly in case they break, while out on sea.

Port Hole Blank (For each Port Hole one Blank), 2021
Main Entrance Safety shutters in case of Storm and water coming over deck, 2021

Air-breather pipes for water and diesel tanks on deck had to be adjusted so water couldn’t get in while yacht is healing over under sail.

Bronze Breather Pipe for Water and Diesel Reservoirs, 2021

Enough said about the condition of the yacht and what has been done in the past and what needs to be done immediately, which has been discussed in Refit. Let’s get into the past to the year that L’Odyssée was launched, 1935 in Fecamp, Normandie, France.

L’Odyssée, 1935

The last drawing shows the interior of when she was built and this differs significantly from how L’Odyssée is at the moment. The cabin layout, Saloon with a Carré, Galley and Crew Cabin are completely different.

Interior Layout
L’Odyssée, 2021

It always been my desire to find a new owner for L’Odyssée which sees this difference and could in the long run, could get her back to her original interior design.

I have not looked into the actual Rating System for the last couple of years but I’m pretty sure that she will get a much better rating then she has now.

I cannot say with 100% certainty, but I do believe that she will be really a yacht to be taken serious in Regattas.

On the Refit page I have described the minimum work, which needs to be done to get her sailing again with fresh paint and Varnish. This should be perfect for the new owner to get to know the yacht and decide for himself what to do with the yacht.

But I do hope that this seed that I’m planting will come out before she will have her 100th Birthday in 2035.

I know that it’s strange to talk about a valuation of a Classic Yacht while there is a huge factor of emotional attachment in it. Further I will never get the money back, which I have invested over the years.

One thing I know for sure and that is that L’Odyssée has given me great memories and I can only wish the new owner the same for there future together.

There are still lots of things which I have not mentioned or shown but I do hope that this webpage has given you as reader enough information to get your heart beating faster and want to get her back in shape and check her out on the open sea where she feels best.

My contact details are on the contact page and hope to hear from you soon while the clock is ticking.