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Cheoy Lee Gulf 40

$41,174 Listed price: US$29,900

Presented For Sale By:

Panama Yacht Broker

Panama
Panama
+1(305) 735 1661 or +(507) 6378 8345

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Make Cheoy Lee
Model Gulf 40
Year 1966
Condition Used
Price US$29,900
Type Sail
Class Antique and Classic
Length 12.04 m
Fuel Type Diesel
Hull Material Fibreglass
Location Cristóbal, Panama
LOA 12.04 m
Length at Water Line 8.84 m
Beam 3.3 m
Max Draft 1.88 m
Keel Type enums.keel-type.kt-full
Displacement 21000 lb
Ballast 5000 lb
Gross Tonnage 14.99 t
Engine Type Inboard
Engine Make Perkins
Engine Model 4.108
Fuel Type Diesel
Engine Year 1984
Power 40 hp
Drive Type Direct Drive
Engine Location enums.engine-location.center
Propeller Type 3 Blade
Propeller Material Bronze
Covers
  • Bimini Top
  • Spray hood
  • Mainsail Cover
  • Lazyjacks
Electrical Equipment
  • Shore power inlet
  • Inverter
Electronics
  • Depthsounder
  • Radar
  • Wind speed and direction
  • Plotter
  • Autopilot
  • Radio
  • Compass
  • GPS
  • VHF
  • AIS
Inside Equipment
  • Electric bilge pump
  • Oven
  • Manual bilge pump
  • Marine head
  • Refrigerator
  • Battery charger
Outside Equipment/Extras
  • Davits
  • Tender
  • Solar panel
  • Liferaft
  • Cockpit cushions
  • Swimming ladder
Rigging
  • Steering wheel
Sails
  • Storm jib
  • Spinnaker
  • Furling genoa
Designer William Garden
Builder Cheoy Lee Shipyard
Guest Cabins 2
Crew Cabins 1
Guest Heads 2
Max Passengers 6
Seating Capacity 6
Fuel Tanks 2 x 220 litres
Fresh Water Tanks 2 x 200 litres
Holding Tanks 100
Hull Shape Monohull
Windlass Electric Windlass
Liferaft Capacity 6

Description

1966 Cheoy Lee Gulf 40 — A Proven Bluewater Classic with an Extensive Refit History & Scientific Legacy

Own one of the last actively voyaging Cheoy Lee Gulf 40s—a true classic built with the over-engineering and craftsmanship that defined the era. This yacht isn’t just seaworthy; she is storied, strengthened, and continually modernized. For sailors who crave adventure and authenticity, she represents a rare opportunity to own a living piece of sailing history.

A Life at Sea: Remarkable Sailing History

Few yachts carry a résumé as rich and well-documented as this Gulf 40:

  • 1966–1984: Explored the UK and Mediterranean, then crossed the Atlantic
  • 1984–1992: Completed a full circumnavigation
  • 1992–2022: Sailed the Ottawa River, Canada
  • 2022–2023: Cruised Lake Ontario
  • 2023–2024: Sailed from the St. Lawrence River to Trinidad & Tobago
  • 2024–2025: Currently voyaging from Trinidad & Tobago to Panama

This is a yacht that has never stopped moving.

Key Structural & Refit Enhancements

This Gulf 40’s longevity is no accident—she has benefited from significant upgrades, thoughtful engineering improvements, and ongoing modernization.

Major Modifications & Upgrades

  • 1980s:
  1. Aft cabin raised from the original design to provide improved headroom and livability
  • 2014:
  1. The Perkins 4.108 diesel engine was rebuilt and refurbished
  • 2022:
  1. Entire electrical system replaced
  2. New modern navigation electronics installed
  • 2024:
  1. New rudder and new rudder block custom-built and installed
  2. Deck reinforced internally with 10 structural beams, significantly enhancing rigidity and offshore readiness
  3. New port forward chainplate fabricated and installed.

A Yacht with a Scientific Mission

From 2023–2024, under current ownership, this Cheoy Lee served proudly in the citizen science initiative Sail for Science, an initiative to collect oceanographic data to help understand climate change and its effects on the ocean. 

  • An oceanographic laboratory with a dedicated work bench was installed in the aft cabin
  • Her voyages combined adventure with meaningful environmental impact

This adds a rare and compelling chapter to her already extraordinary history.

Classic Craftsmanship, Built for the Sea

Her long keel, heavy displacement, and robust Cheoy Lee construction deliver the reassuring stability these yachts are known for. 

Why This Gulf 40 Stands Apart

  • One of the few remaining Gulf 40s still actively sailing
  • Documented circumnavigation + decades of continuous voyaging
  • Major structural and mechanical upgrades
  • Reinforced deck, modern systems, new rudder, raised aft cabin
  • Unique history as a citizen science vessel
  • A rare opportunity to own a classic with both heritage and capability

Own a Yacht with a Story Worth Telling

If you're searching for a proven bluewater cruiser with soul, strength, and a legacy of ocean exploration, this 1966 Cheoy Lee Gulf 40 is unmatched. She’s ready for her next steward—and her next adventure.

Disclaimer

The Company offers the details of this vessel in good faith but cannot guarantee or warrant the accuracy of this information nor warrant the condition of the vessel. A buyer should instruct his agents, or his surveyors, to investigate such details as the buyer desires validated. This vessel is offered subject to prior sale, price change, or withdrawal without notice.

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Presented For Sale By:

Panama Yacht Broker

Panama
Panama
+1(305) 735 1661 or +(507) 6378 8345

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Presented For Sale By:

Panama Yacht Broker

Panama
Panama
+1(305) 735 1661 or +(507) 6378 8345

View Seller Inventory
 

One-click Contact

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