Grand Banks 49 Classic Review and Used Buying Guide

When a Grand Banks 42 is not enough

Most people who shop a Grand Banks 49 already know the 42. They like the teak, the twin diesels, the shallow draft and the solid feel, but they want a third cabin, a larger saloon or more storage for living aboard. The 49 answers that with roughly seven extra feet of length and a noticeably wider beam, which translates into far more interior volume than the length alone suggests.

The 49 was built by the same company that started as American Marine in Hong Kong, founded by Robert Newton and his sons. By the time the 49 was in production, Grand Banks had established its reputation for trawlers that crossed the line between workboat and yacht. Production moved to Malaysia in 1995, so later 49s came from the Pasir Gudang yard.

There are far fewer 49s than 42s on the market at any one time, so expect to travel for the right boat and to compare across a wider spread of ages and conditions.

Classic or Motor Yacht arrangement

Like the 42, the 49 came in more than one arrangement. The Classic is the familiar shape, cockpit aft, decks you can walk all the way around, bridge on top. The Motor Yacht trades the cockpit for an elevated aft deck with a full width owner's cabin beneath it, giving up the cockpit in exchange for more cabin space.

For long term liveaboards the Motor Yacht layout often wins on comfort. For cruisers who fish, swim or want easy access to the water, the Classic's cockpit is more useful, and it handles locks more easily.

Lehmans, Caterpillars and choosing power

Early 49s were powered by twin 120 hp Ford Lehman diesels, while later boats came with Caterpillar diesels from 210 hp (11 to 12 knots top) to 435 hp (17 to 18 knots top), according to PowerBoat Guide. About 125 49 Classics were built between 1980 and 1997. Exact factory options varied by year, so check the specific boat's documentation rather than relying on general model specs.

Lehman boats cruise efficiently at 8 to 8.5 knots and are simple to maintain, but they are now old engines with age related issues. Caterpillar powered boats can run faster when needed, though the 49's weight means it is still happiest at displacement speeds for long range work.

Repowered boats appear on the market occasionally. A professional repower with modern common rail diesels can transform reliability and fuel economy, but check the quality of the installation and whether the boat's electrical systems were updated at the same time.

Range planning at eight knots

Grand Banks lists the 49 Classic with 1,000 gallons of fuel and 500 gallons of water, but tanks on boats this old have often been replaced or resized, so plan range from the actual tank sizes on the boat you are buying and a measured burn rate. As a rule of thumb, a twin diesel 49 at 8 to 8.5 knots burns roughly 7 to 9 gallons per hour combined, and much more at semi-planing speeds.

That makes the 49 an excellent coastal cruiser for the ICW, the Northeast, the Bahamas and the Pacific Northwest. It is not an ocean passagemaker in the Nordhavn sense, yet in a sensible weather window it is perfectly at home crossing the Gulf Stream and Gulf of Mexico runs.

Stabilizers and sea comfort

Stabilizers were optional and are found on many 49s, usually hydraulic fins from Naiad or Wesmar. They are well worth having for coastal passages where a beam sea would otherwise make the boat roll. Check seal and bearing service history, and test the system underway at cruise speed.

At anchor, fin stabilizers do not help unless they have a zero speed function. Many owners use flopper stoppers in rolly anchorages.

Living aboard a 49

Inside, the 49 offers the warm teak joinery Grand Banks is known for, a saloon with lower helm on many boats, a full galley and either two or three staterooms. The three stateroom versions suit families or couples who host guests often, while two stateroom boats have more storage and a larger master.

Headroom, storage and tankage make the 49 a credible full time liveaboard boat, and many have been used that way. Check air conditioning and heating systems carefully, as older boats often have outdated units.

Is a 49 a good Great Loop boat?

It can be, with planning. The 49's moderate draft generally suits the Loop, but its size makes some marinas and locks more challenging than a 42. Height is the bigger question. Confirm, with mast and antennas folded, that the boat fits under the 19 foot 1 inch railroad bridge in Chicago before you commit to the route.

Couples who have run a 42 will find the 49 handles similarly with twin engines and a bow thruster, but the extra length and windage mean more care in tight spaces.

Price the refit, not just the boat

With a 49, the purchase price is only half of the real number. Experienced buyers build a refit budget before they make an offer, because a $230,000 boat that needs decks, tanks and electronics can easily cost more in the end than a $380,000 boat where that work is done and documented.

Typical big ticket items on an older 49 include removing or relaying a teak deck, replacing fuel tanks, updating the helm electronics and autopilot, replacing air conditioning units, a new generator, and canvas and cushions for the flybridge. Each of these can run from the low tens of thousands into six figures depending on scope and yard. Get yard quotes during your due diligence period, not after closing.

The upside is that a well refitted 49 holds its value well in a market that continues to respect the Grand Banks name. A sound boat bought at the right price, with the work done properly, rarely becomes a financial disaster, and a good one sells faster than most trawlers its age.

The usual Grand Banks problems, scaled up

The 49 shares the 42's weak points. Teak decks over cored structure can leak through fasteners and rot the core. Older black iron fuel tanks corrode and leak, and replacement on a 49 is a significant job. Teak window frames, hatches and flybridge seams leak, and wiring on older boats should be reviewed by a qualified marine electrician.

These are known issues with known costs. Get a thorough survey, moisture readings on the decks and house, and a separate engine survey with oil analysis, then price the work into your offer.