Lets Rehab A Boat

[Cracker Larry]

Figure 3-5K if you have the transom replaced. Maybe $1,500 if you do it yourself.

Think of the rebuild as you would a house. Start with a solid foundation and work up.

[wiley]

I say we go ahead and build it.

[one4water]

OK, so lets go middle ground on the transom and say 4k.

heres the list so far

Cost of boat $2500.00

So far we have a pair of pre-loved Zukes with gauges and controls $18,000.00

Sell the lower units for $500 per -$1000.00

Scored one fishing net $0.00

New Transom $4000.00

Total investment so far $23,500.00

[woftam1024]

Don't know what/any props on Zuks, but when I repowerd I had to change props and longer control cables. @$1000.00

Still have old props for sale.

[ScarabChris]

Project boats never have an ending "total investment" You will constantly be doing stuff. I have a 1994 Scarab Sport 302. I bought it in 2002 in turn key condition for $26K

Well here we are 7 years later and its now the most expensive 1994 Scarab on the water. When I add the $3K I'm now spending on the new upholstery and a few other upgrades I will probably break $90K total "investment". That includes the purchase of the boat itself and 28 grand for new engines.

I quote the word investment because that is a sarcastic word to describe any pleasure boat much less a project boat. An investment is something that makes you money. Boats cost you money which makes it a hobby.(unless its a commercial vessel)

But is it worth it? Sure it is, if you really like the boat which I do. Some may think its crazy to dump 90 grand into a boat that old. But this spending took place over the course of 7 years. The only expendature I really fealt was the re-power.

If I were to sell it now I would only expect to get around $40K......on a good day. In a better economy and boating market maybe $55K. Everything is new and it shows better than most 2 year old boats.

Good luck with the project and post pictures please.

Edited October 22, 2009 by ScarabChris

[yottyboy]

So, judging by this, sinking may actually make a boat better! LOL

We'll see when he's had to replace the engines once or twice, lost his best binoculars overboard, gotten rammed, torn his pants on a cleat or any number of other bad things have happened. I'll stick with my own well proven superstitions.

[Fubar512]

Project boats never have an ending "total investment"

Uh Chris,

You should know by now that any boat is a never-ending total investment. New, used, or project, they all wind up about the same in the end.

[ScarabChris]

Uh Chris,

You should know by now that any boat is a never-ending total investment. New, used, or project, they all wind up about the same in the end.

Yes and no. Lets say you buy a high end boat like an Intrepid brand new. Lets say you spend $200K and the boat is factory loaded with all the bells and wistles. Guys that buy these boats usually only keep them a few years at best and probably don't have to put much more money into them as everything is under warranty.

So the guy sells the boat without installing any options or upgrades, its as it left the factory. In most cases you can sell a 2-3 year old Intrepid for the same as what you paid. Though the Intrepids are one of the few CC boats you can do this with. Because of the wait list people are willing to shell out full price for a used boat to avoid the 2-3 year wait.

But yes.....a lot of boaters will buy a new boat and keep making improvements until the day they sell it. And with a project boat its worse because they have to actually rebuild the boat itself...then add all the extras.

Its just an expensive hobby, I think you could be into gambling, coke and hookers and spend less.

[cjohnson]

Interesting discussion. Two points:

I wouldn't completely write off the engines as uneconomical to repair. Just because they were underwater and seized doesn't mean you can't free them up and fix them with a couple days work and fooling around. Also, even if they are toast their scrap value may be pretty high if you are willing to seriously part them out and test the parts you resell. In addition to the LU, most of the electrical parts are probably good, and they are expensive retail.

But rehabbing boats always coasts more than you think. After working up an estimate on paper I'd add at least 25% additional for "surprises."

[one4water]

Interesting discussion. Two points:

I wouldn't completely write off the engines as uneconomical to repair. Just because they were underwater and seized doesn't mean you can't free them up and fix them with a couple days work and fooling around. Also, even if they are toast their scrap value may be pretty high if you are willing to seriously part them out and test the parts you resell. In addition to the LU, most of the electrical parts are probably good, and they are expensive retail.

But rehabbing boats always coasts more than you think. After working up an estimate on paper I'd add at least 25% additional for "surprises."

Since this is just an excersize and we are not actually building this boat in real life, we should figure toasted motors. No way to really get our hands on them to be sure. But the idea of selling off damaged parts can definitly be figured in. If someone got $200.00 for selling locked up motors to a scrap yard, chime in, we can use that as part of the overall plan to recoup cash for the project. Has to be realistic though, don't tell me you sold your dead motor to your ex-brother in law's layer for $1000.00. If you have a way to restore or rebuild components like the helm or steering rams and have done it and know the cost, let us know. It can be an option.

That brings up a point. fater reading some of the posts I think some have missed the point to this. This is not an actuall real build up, I did not buy the boat nor am I going to buy this particullar one. This is as stated, an excercise. I am using the boat I listed as an example for a rebuild on paper only. Just something to see what we as a group could put this boat back on the water for. Even if it is cursed because it sank already. I am definilty not a believer in that one. I tore my shorts on my cleat last summer and my boat has never been on the bottom. Stuff happens.

So for those who are not supersticious who woud like to take part, post away. Let's see what we can come up with.