Cheoy Lee 38 Buyer's Guide
The Cheoy Lee 38, also known as the Offshore 38 from around 1975 onward, is a Hong Kong–built fiberglass cruiser from Cheoy Lee Shipyard, designed by Reymond H. Richards and produced from 1968 into the early 1980s. At just under 38 feet with a 12-foot beam and 17,500-pound displacement, she is a moderate-to-heavy bluewater-capable ketch or sloop with teak trim and solid GRP construction. For a shopper scanning the brokerage market, the appeal is a roomy, traditional cruiser with straightforward structure — but the age of the woodwork and rig demands a careful look.
Layouts on the Used Market
Used Cheoy Lee 38s appear in two hull configurations: the long-keel original and, in some variants, a fin keel with skeg-hung rudder. Both share the same 37-foot-11-inch hull with a spacious interior for its length and teak woodwork throughout. The boat was offered with a traditional masthead sloop rig as standard and a ketch option in related discussions, so a buyer will encounter both rig types on the market. The solid fiberglass hull and deck mean no cored structures to worry about, and the 5-foot-8-inch draft keeps her accessible to shallow berths.
Equipment and Common Upgrades
A buyer should assess each used Cheoy Lee 38 on its own installed gear rather than expect a standard package, since no equipment tier is prevalent across the model. Given the boat's age and cruising intent, the most consequential items to review are the rigging and sail inventory — original genoas and spinnakers are now decades old — and any added navigation or energy systems an owner has fitted. Inspect what is present, confirm it works, and treat missing modern equipment as a negotiation point rather than a defect.
What to Inspect
The service demands on this design are concentrated in two areas. Older teak trim and interior woodwork on these hulls need ongoing maintenance, so check exterior teak for weathering, softness, or failed varnish, and look below for stained or deteriorating interior wood that signals water intrusion or neglect. The rigging is the other recurring obligation: original standing and running rigging should be inspected and renewed as needed, so examine chainplates for corrosion or loose bedding, sight the mast and stays for fatigue or rust, and confirm the running gear operates cleanly. Neither concern is a hull defect, but both determine what you inherit on day one.
Availability and Buyer's Takeaway
Cheoy Lee 38s are typically found in the United States and Germany. For a viewing, keep the following short checks in mind:
- Check teak trim and interior wood for weathering or rot.
- Inspect chainplates and standing rigging for corrosion.
- Confirm the hull is solid GRP with no soft spots.
- Verify the rig type matches your sailing plans.
- Test all onboard systems and sail handling gear.
Price & volume trends
Monthly asking-price and listing-volume trends for the Cheoy Lee 38. The line shows the median ask each month; the bars show how many listings appeared.
Monthly breakdown · 1 row
| Month | Listings | Median ask | Δ vs. last mo. |
|---|---|---|---|
| Sep 25 | 1 | $32,463 | — |
Comparable models
Similar length, displacement, and era. Open a row to compare that model's market page.
Similar boats to compare
5 similar designs| Model | LOA | Median ask | Listings · 12 mo | Active · 90 d |
|---|---|---|---|---|
| Sabre 38 | 37.83' | $ 49,999 | 48 | 21 |
| Cabo Rico 38 | 38' | $ 98,473 | 27 | 4 |
| Ohlson 38 | 37.06' | $ 63,985 | 16 | 5 |
| Nicholson 38 | 37.83' | $ 31,466 | 14 | 2 |
| Morgan 38 | 37.67' | $ 69,000 | 5 | 1 |