I also expect to get my money back, plus a little bit extra, when I sell a boat. So I thought carefully about the current market. For the last 20 years, sailboats have had an edge over powerboats when it comes to resale value. Now, with the increasing cost of fuel, large -horsepower boats may fall farther out of favor.

I also had to consider my stage of life. I'm not as spry as I used to be, and although most of my boats have been cutters, ketches and schooners, sail no longer makes sense for me.

Although I love wood, and nearly all my prior hulls were wooden, I also decided to purchase a rare fiberglass classic because I no longer wanted to do all that restoration.

So, I began to look for power boats that would celebrate fuel economy. This moved me in the direction of trawlers, which are built for long-distance voyages and use as little fuel as possible.

After a week of looking I began to narrow my sights to single engine diesel trawlers with room for a second couple to cruise with my wife and me.

The final consideration was size. The majority of boats I have owned have been 30 to 36 feet, so I knew I liked that approximate size. But, because I live in San Francisco, I also wanted to find moorage near the city. I settled on Sausalito, where I found that 36 foot moorages were hard to find, but several were available at 32 feet and less. Since the parking situation in downtown Sausalito has been ample, I chose Clipper Yacht Harbor, in North Sausalito, where there is available free parking for my guests. I booked a 30 foot berth before I bought the boat.

Now, I was ready to look for the vessel: a single-engine diesel trawler that was made of fiberglass, less than 32 feet long and had accommodations for four.

WHAT TO LOOK FOR

I collected all the listings I could find for vessels fitting my specs, both on the Internet and in yacht sales publications. All of the long-range (low horsepower, big fuel tank) cruising trawlers seem to be Asian-built, like Island Gypsy, Cheoy Lee Trawlers, CHB Trawlers and Nordhavn. As I identified the available boats, I began to aggressively comparison shop. Since all the hulls of the same age from a particular yard will have nearly the same price, I comparison shopped on the extras like navigation electronics, autopilots and other components. I also looked at each vessel to see which has the pristine interior and which need refurbishment.

Then it was time for a good talk with the brokers. I asked how long the vessels has been listed and whether there had been offers. I also asked if the boat's previous owners had been verified. I like to find boats with just one previous owner. If he bought it new and owned it for a quarter century, then he took care of it. The economics also work in my favor. If I offer him half of the current market value, it will still be five times what he paid for the vessel a quarter century earlier - and he may be happy to make a profit on the sale.

BINGO!

I found a 1979 Cheoy Lee 28, with a single 80 HP Ford Lehman Diesel, teak decks throughout and fittings in stainless steel (including the propeller). The first owner bought it new and took excellent care of it for 24 years, adding continuous electronic upgrades. It had a Pathfinder radar, GPS, the original depth sounder and a fish finder, the original RDF, Benmar course setter, hydraulic steering and a battery bank minder.

At age 83, the original owner sold it to an interim owner, who mostly neglected it for four years and then listed it for sale. A year later, with no buyers, he lowered his price a couple of weeks before I arrived.

I looked closely at the moss growing on the north side of the canvas, the decks that had not seen teak oil in years, and the batteries that were nearly bone dry (each cell took more than a pint of water). These are the things that drive buyers away. But all these problems were fixable with a little soap and water and teak oil.

Then, I began to investigate aboard where I found a host of spare parts: Raw water pumps, fuel pumps, impellers, lube and fuel filters, fan belts, water purifier filters, extra batteries with a portable charger, and an electric dinghy motor, though there was no dinghy. All of the parts were put onboard by the original owner during the boat's years of excellent maintenance.