SALE CANCELLED DUE TO BANKRUPTCY FILING
SECURED PARTY’S SALE BY
PUBLIC TIMED ONLINE AUCTION 11-10
2005 58’ PAINE STEADYSAILER “RANGER”
Online Bidding Begins: Mon, Jan 17, 2011 at 9AM
Online Bidding Ends: Wed, Feb 09, 2011 at 1PM


PREVIEW: Mon., Jan 31st from 12-2PM. The vessel is currently stored at CFL Marine, 114 Carroll Island Rd., Baltimore Maryland.


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"Paine Steadysailor", a sail-assisted, light-displacement motoryacht capable of economical ocean crossings under power with sail assist, and also capable of self rescue under sail in the event of power loss. These long range cruisers, based upon Beebe's "Type B" configuration, are now recognized as a unique contribution to the concept of ocean voyaging.

YEAR: 2005
VESSEL: 58 FT. PAINE STEADYSAILOR, "RANGER"
DIMENSIONS:
LOA: 57' 10"
FUEL: 1050 gal
LWL: 52' 1"
WATER: 340 gal
HULL BEAM: 14' 2"
DISPLACEMENT: (half load) 48,900 lbs
CHINE BEAM: 12' 2" LBS/HP
RATIO: 575
BEAM/LENGTH RATIO: 25%
MAIN ENGINE: John Deere 4045DFM 105hp
MAXIMUM DRAFT: 4' 6"
REDUCTION: 3.74:1
HEIGHT ABOVE DWL: 10' 6"
SPEED: 10 Kt
STABILITY LIMIT: 120 Degrees
SAIL AREA: 831 sq. ft.
MIN. CABIN HEADROOM: 6' 4"

INFORMATION FROM DESIGNERS WEB-SITE:
The 58’ Paine Steadysailor will cruise reliably at 10 knots in any wind strength from zero to thirty knots, and any wind direction including straight up and down. The cost of fuel is no greater than that of maintaining and replacing the sails on a similar sized sailboat, and will Travel 7,000 miles without refueling. In the unlikely event of an engine failure the Ranger will slowly but reliably sail to a safe port. The yacht is unusually cheap to fuel, and easy to crew and maintain.

C.W. Paine was commissioned to design the vessel and the RANGER was built at Lyman Morse Boat building in Thomaston Maine. The yacht travels efficiently at 10 knots with the engine turning at 2300 rpms. While a speed of 11.1 knots was achieved at Wide Open Throttle, the engine speed was subsequently governed to prevent its use at over 2300 rpm so as to maximize the life of the engine.

The STEADYSAILOR is a name coined by Paine for this new type of yacht. With that name, you'd expect her to be a motoryacht with a steadying sail, and she is certainly that. But she's also the embodiment of the term Motorsailor. She was designed and optimized for motorsailing, which is what the majority of pure cruising sailboats do much of the time anyway. All experience sailors know what a difference in speed is made just by having the engine ticking over slowly when under
sail, or the sails up and drawing when under power. The STEADYSAILOR is intended to always have the engine running, so that the yacht travels at a given speed (say 10 knots) at ALL TIMES, no matter the state of the wind. Thus she will make good 240 nautical miles per day, or over 1000 statute miles every four days, no matter what. STEADY speed, rather than the presence of a steadying sail, is what gives this design its name.

The construction was welded 5083 aluminum with a hard chine. The plates are not flat in any section, making the shape much stronger than would be the case with a drapable (the so called
"developed") form. Various boatyards contacted during the design process insured us that the increased cost of the very slight plate hammering required is trivial in comparison to the strength (and superior aesthetics) gained. The RANGER was finished almost entirely in raw aluminum, sandblasted to look as commercial as possible.

In order to sail, the design required a keel. Since the draft must be severely limited in order to cruise the Bahamas and the French canals, the keel had of necessity to be very long and shallow. Given a reasonable thickness ratio, this made a true NACA airfoil keel wide enough to fit into it something
quite large, something like the engine. With the engine low, it served as ballast, the prop shaft ended up just about horizontal, and the engine room ended up with full standing headroom forward of the engine. Much of the fuel tankage was also fitted into the keel, forward and aft of the engine space, as was a modest amount of lead ballast.

Perhaps the most problematic reason why ocean voyaging has traditionally been done under sail rather than power, is motion. The presence of sails and a keel, working as motion dampers in their respective fluids, makes a sailboat less prone to rolling than a powerboat. The downside is that
sailboats spend their lives heeling to a 20 degree angle or more much of the time, and are slow in light winds and make no progress in none.

The solutions for the oceangoing powerboat are either active fin stabilizers, or hydrodynamic stabilizers ("fish") trailed from poles into the water. One needs one or the other to be comfortable on a small power craft in the open ocean.
Since one compelling aspect of the STEADYSAILOR was economy, we chose the far less expensive solution. The A-frame type poles used to trail the "fish" also are used as sheeting points for the jib or jibs, making a virtue of their necessity. Many offshore voyages follow the traditional
tradewind routes, which puts the prevailing wind on the stern. In this situation the two-ply outer jib is separated port and starboard, doubling the area of sail exposed to the wind-- and these jibs are very effectively sheeted to the ends of the steadying poles so as to project as large an area of sail as
possible.

In fixing the sail versus power aspects of the design, the stability of the yacht had to be dealt with. If too stable it would roll uncomfortably quickly, and if less stable it would heel excessively when motorsailing on anything shy of a beam reach. Extensive study yielded a final stability figure which
insures a comfortable roll period in those few instances when the roll stabilizers might be ineffective (when stopped in a seaway for instance) yet sufficient to keep the yacht from heeling more than ten degrees in most all wind strengths where the sails would be used. The intact stability is such that the
yacht will recover from a 120 degree knockdown-- a very impressive figure which is comparable to that for pure sailing craft and far in excess of the 70 to 90 degree recovery angle common among conventional motor craft.

The interior fit-out was relatively simple, and optimized for two couple cruising. The forward and
aft cabins are separated by the midship pilothouse. Forward raking windows mimic those of offshore fishermen and the effect upon forward visibility is noticeable.

Vessel Specs

Survey

Info Package

TERMS: To bid on this item prospective bidders will need a $50,000.00 deposit (non-refundable as to the highest bidder) in CASH or CERTIFIED U.S. FUNDS, made payable to the Keenan Auction Company (deposited with the Auctioneer as a qualification to bid), with the balance due and payable within 30 days from date of public sale. Certified Checks should be mailed to Keenan Auction Company, 1 Runway Rd. South Portland, ME 04106. Cash may be hand delivered to the same address. Wire transfer information:
Unsuccessful bidders deposits will be returned after the completion of the auction via US Mail.

BUYER’S PREMIUM: A 10% Buyer’s Premium will be added to the bid price to establish the total purchase price.

Bidding and acknowledgment will be by online bid number only. Please complete the online registration process at Proxibid.com. Once you become a winning bidder, title passes (UCC) and you are responsible for your own merchandise. Auctioneer and Seller are not responsible for theft, or damage to vessel after title passes. The risk of loss with respect to the property shall be with the successful purchaser.

SALES TAX: 5% Maine sales tax will apply to Maine residents. Dealers or exempt agencies must provide us with a copy of their annual resale certificate at time of registration. Out-of-state residents are non-taxable if the vessel is berthed outside of the State of Maine. If the non-resident berths the vessel in Maine, they are 60% exempt from paying sales tax.

REMOVAL: Vessel may not be removed until the sale is completed and after complete payment has been made. Purchaser will be responsible for removing the vessel from CFL Marina upon closing. Arrangements to store the vessel at CFL Marina beyond the closing date is the purchaser's responsibility.

DOCUMENT FEES: Any document filing fees will be the purchaser's responsibility.

WARRANTIES: While descriptions are believed to be correct, the Auctioneer and the Seller make no warranties or guarantees, expressed or implied as to the genuineness, authenticity of, or defects in the asset, and will not be held responsible for advertising discrepancies or inaccuracies. Purchaser acknowledges that purchaser has had the opportunity to inspect the asset, and that the asset is sold on an "AS IS", "WHERE IS" basis except as expressly made in writing. No warranties are made as to the merchantability of the asset or its fitness for any purpose. Auctioneer and Seller do not guarantee the accuracy or completeness of the information contained in the auction catalog.

Purchaser does hereby indemnify and hold harmless Auctioneer and Seller from any and all damages and claims of any type whatsoever, caused during the sale or arising out of the sale, or by the removal of the item purchased.

If any dispute arises between two or more bidders, the Auctioneer at his sole option may put up the lot again for sale at once and resell to the highest bidder. The auctioneer’s word will be absolute and final in resolving any disputes.

The Auctioneer reserves the right to bid and to reject any and all bids including any bid, which is only a fractional advance over the proceeding bid. Absentee bids will not be accepted. All bids subject to confirmation of secured party.

Seller, and its assigns, reserves the right to bid without making the required deposit and, if Seller, or its assigns, is the high bidder, to pay for the Property with a credit against the debt owed to them.

In the event the Purchaser fails to pay the whole of the purchase price within the time set forth by the Seller, and/or fails to comply with any of the Terms and Conditions of Sale, the Seller may retain and/or recover the full deposit specified as liquidated damages, and in addition thereto, can be resold at public or private sale without further notice. Any deficiency resulting from such resale shall be paid to the Seller by such resale and enforcement of the obligation thereunder. Buyer agrees to pay any and all charges and expenses incurred by reason of any breach of the Terms and Conditions of Sale, including without limitation reasonable attorney's fees.

SEVERABILITY: These terms and conditions of sale shall not be construed against the party preparing them, but shall be construed as if all parties jointly prepared these terms and conditions of sale and any uncertainty or ambiguity shall not be interpreted against any one party. If any provision hereof is held to be illegal, invalid or unenforceable under any present or future applicable laws, such provision shall be fully severable and the terms and conditions herein shall be construed and enforced as if such illegal, invalid or unenforceable provision had never been made a part hereof. The remaining provisions herein shall remain in full force and effect and shall not be affected by such illegal, invalid or unenforceable provisions or by their severance herefrom.

PLEASE NOTE: You have signed a written binding contract agreeing to the Terms and Conditions of Sale, and understand that any bid you make falls under the Maine Auction Law, Title II, Section 2-328 of the Uniform Commercial Code, and the Statute of Frauds. Maine auctions are under the jurisdiction of the State of Maine Department of Professional and Financial Regulations, Board of Licensure of Auctioneers, 35 State House Station, Augusta, Maine, 04330. If you do not agree with the Terms and Conditions of the Sale, please do not bid.