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27data points analyzed by Sailpages.com to compile this CHEOY LEE 48 buyer’s report
CHEOY LEE 48

CHEOY LEE 48

Cheoy Lee Shipyard Ltd.🇭🇰· Design: Robert H. Perry
$122,000 avg$86,000 – $158,000 (2 listings)from 198040 built
$4.1K – $11K est. annual maintenance
Bluewater CruisermonoCutterFin
Cheoy Lee Association Web Site

Specifications

Hull

LOA47.83 ft
LWL38.96 ft
Beam13.75 ft
Draft6.5 ft
Displacement32,300 lb
Ballast13,000.8 lb
Hull speed1.34·√LWL8.4 kn

Rig & Sails

Iforetriangle height55.9 ft
Jforetriangle base19 ft
Pmainsail luff48.8 ft
Emainsail foot17.3 ft
PYmizzen luff31.75 ft
EYmizzen foot13 ft
FLforestay19 ft
Mainsail986.9 sq ft
Jib (100%)531.1 sq ft
Spinnaker902.8 sq ft

About the CHEOY LEE 48

Aft & Center Cockpit models. Cutter or ketch. Sail area aft cockpit: -Cutter: 984 ft² / 91.4 m² -Ketch: 1,033 ft² / 95.97 m² Sail area Mid cockpit: -Cutter: 988 ft² / 97.8 m² -Ketch: 1,033 ft² / 95.97 m²

Sailpages Buyer's Take

Designed by Robert H. Perry and built by Cheoy Lee Shipyard Ltd.(HK), the Cheoy Lee 48 is a substantial cruising yacht with only 40 hulls built in 1980. Its heavy displacement of 32300.0 lb and fin keel configuration reflect a design philosophy prioritizing stability and seakeeping over speed.

Best for:
This boat suits experienced coastal and offshore cruisers who value comfort and protection, as evidenced by the high prevalence of watermaker installations (30 mentions) and extensive canvas upgrades like dodgers (137 mentions) and biminis (23 mentions).
Bluewater capability:
With a low capsize ratio of 1.73 and high comfort ratio of 36.56, the boat is well-suited for offshore passages, though potential structural concerns regarding keel smiles and deck cores require careful verification.
Comparables:
Comparable to other heavy-displacement, fin-keel cruising yachts from the late 1970s and early 1980s, such as the Hallberg-Rassy 43 or O'Day 42, due to similar displacement ratios (D/L 243.84) and cutter rig configurations.

Performance

Comfort36.6
Capsize1.73
SA/Disp15.6
Disp/Len244
Bal/Disp40.3

ORC Performance Data(1 certificate)

Measured performance data from ORC (Offshore Racing Congress) certificates.

Polar Diagram

2468100°30°60°90°120°150°180°WIND
6kn8kn10kn12kn14kn16kn20kn24knbeat VMGrun VMG

Boat speed (kn) vs. true wind angle. Source: ORC

Racing Ratings

GPH628.8 s/miOSN610.5

Triple Number

LowMedHighOffshore0.82171.08301.2212Inshore0.63060.86261.0049

ORC Measured

Displacement16325 kg (35997 lb)Wetted surface46.4 m² (500 ft²)Stability index-1.0

Sail Areas (ORC)

Main45.5 m² (490 ft²)Genoa64.9 m² (698 ft²)Spinnaker139.2 m² (1498 ft²)

Speed Table (kn)

TWA \ TWS68101214162024
52°5.16.06.77.27.47.67.77.7
60°5.46.47.07.57.77.88.08.0
75°5.76.67.37.78.08.18.38.4
90°5.76.87.57.98.18.38.68.8
110°5.76.97.68.08.38.68.88.9
120°5.66.77.58.08.38.69.19.3
135°5.06.27.17.78.18.49.09.6
150°4.25.36.37.17.78.08.69.2
Beat VMG3.24.04.54.85.05.15.25.2
Run VMG3.64.65.46.16.77.28.08.5

Estimated Value

Limited Data
Based on 2 listings
Low
$80,808
Estimated Value
$94,794
High
$108,780
Inflation-adjusted to 2026 USD

Estimated Cost of Ownership

Based on 47.83ft LOA. Actual costs vary by condition, usage, and local rates.

$/ft/mo
Annual Maintenance
$4.1K – $11K
Hull, rigging, sails, engine service
Annual Docking
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Annual Insurance
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Known Issues & Pre-Purchase Inspection

20 reported issues across 9 systems for the CHEOY LEE 48, compiled from owner reports in sailing forums and owner-association material.

5 critical9 major6 minor
Structural5Deck3Keel2Rudder2Hull2Engine2Rigging2Plumbing1Electrical1

Unlock the full inspection report

Thinking of buying a CHEOY LEE 48? 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 20 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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