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26data points analyzed by Sailpages.com to compile this CHEOY LEE 32 buyer’s report
CHEOY LEE 32

CHEOY LEE 32

Cheoy Lee Shipyard Ltd.🇭🇰· Design: Raymond Richards
$12,875 avg$2,500 – $25,000 (4 listings)from 1976
$1.7K – $4.6K est. annual maintenance
Offshore CruisermonoMasthead SloopFin

Specifications

Hull

LOA31.92 ft
LWL27 ft
Beam10.5 ft
Draft4.5 ft
Displacement11,300 lb
Ballast4,200.2 lb
Hull speed1.34·√LWL7.0 kn

Rig & Sails

Mainsail242 sq ft

About the CHEOY LEE 32

Available as a sloop or ketch. Sail area: Sloop rigged- -Main: 242 ft² / 22.5 m² -Fore triangle: 263 ft² / 24.4 m² Ketch rigged- -Main: 210 ft² / 19.5 m² -Fore triangle: 236 ft² / 21.9 m² -Mizzen: 94 ft² / 8.7 m² aka OFFSHORE 32. See OFFSHORE 32.

Sailpages Buyer's Take

The Cheoy Lee 32 is a classic 1976 design by Raymond Richards, built by Cheoy Lee Shipyard Ltd. in Hong Kong. While the exact production volume is not definitively recorded in the source data, this single-year model represents a distinct era of heavy-displacement cruising yachts known for their robust construction and traditional aesthetics.

Best for:
This vessel is best suited for coastal cruisers and those seeking a comfortable, stable platform for relaxed weekend sailing, given its high comfort ratio of 26.76 and moderate sail area-to-displacement ratio of 16.13. It appeals to owners who prioritize interior volume and traditional craftsmanship over high-performance racing capabilities.
Bluewater capability:
With a displacement of 11300.0 lb and a capsize ratio of 1.87, the Cheoy Lee 32 offers substantial stability and safety margins for offshore passages, though its single-year production run suggests a smaller owner community for parts and support compared to mass-produced contemporaries.
Comparables:
Comparable boats include the Cal 32 and the O'Day 32, which share similar beam dimensions and displacement characteristics from the mid-1970s. These models are comparable due to their similar masthead sloop rigs, fin keel configurations, and target market of family-oriented coastal cruisers.

Performance

Comfort26.8
Capsize1.87
SA/Disp16.1
Disp/Len256
Bal/Disp37.2

Estimated Value

Low Confidence
Based on 4 listings
Low
$7,478
Estimated Value
$9,324
High
$11,849
Inflation-adjusted to 2026 USD

Asking price by model year

18 listings · boat years 19692007 · median $22,000

$0$500k$1Mmedian $22,000197019751980198519901995200020051975 Cheoy Lee Lugar · $50,000 · Washington, US1969 Cheoy Lee Luder 36 · $17,000 · Outside United States1972 Cheoy Lee Luders · $35,000 · Florida, US1970 Cheoy Lee Ketch · $50,000 · Maryland, US1972 Cheoy Lee Luder 36 · $22,000 · Maryland, US1978 Cheoy Lee Offshore 32 · $9,950 · New York, US1975 Cheoy Lee Luders 30 · $3,500 · New Jersey, US1977 Cheoy Lee 33 · $12,000 · Maryland, US1969 Cheoy Lee Luders 36 · $6,500 · Virginia, US1978 Cheoy Lee Luders 30 · $11,900 · Virginia, US1972 cheoy lee Luders · $25,000 · New York, US1969 Cheoy Lee Luders 36 · $50,000 · Washington, US1978 Cheoy Lee 32 · $49,000 · Outside United States1969 cheoy lee · $2,500 · US1977 cheoy lee · $25,000 · Florida, US1974 cheoy lee cutte · $22,000 · Florida, US1973 Cheoy Lee Luders · $18,500 · North Carolina, US2007 Cheoy Lee Bravo · $1,110,782 · Florida, United StatesAsking price (USD)Boat model year

Each dot is one listing · hover for details · dashed red line marks the median · obvious data-entry outliers (top & bottom 2.5%) excluded.

Estimated Cost of Ownership

Based on 31.92ft LOA. Actual costs vary by condition, usage, and local rates.

$/ft/mo
Annual Maintenance
$1.7K – $4.6K
Hull, rigging, sails, engine service
Annual Docking
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Known Issues & Pre-Purchase Inspection

7 reported issues across 4 systems for the CHEOY LEE 32, compiled from owner reports in sailing forums and owner-association material.

3 critical3 major1 minor
Deck3Rigging2Plumbing1Keel1

Unlock the full inspection report

Thinking of buying a CHEOY LEE 32? This is an in-depth report on the faults this model is known for — so you know exactly what to check when you walk the boat. For the price of a coffee.

  • All 7 specific issues — severity, symptoms & fixes
  • Model-specific pre-purchase inspection checklist
  • Downloadable PDF to take to your surveyor — yours to keep

One-time $2.99 · secure checkout by Stripe · instant access · 30 days online, PDF yours to keep

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