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Capt Mike 01-22-2019 04:43 PM

Partially Submerged
 
I am looking at a 1980's vintage trawler. The broker informed me that the boat was partially submerged, up to the engine room about 4 years ago after it broke off it's mooring. The trawler appears to be in very good overall condition, the Cat 3208 was rebuilt, genset was replaced and I am told the boat was completely re-wired. I was told the owner operated the boat for two years following the grounding with no related issues.
Has anyone had any experience with recovering a boat after being submerged in salt water? Should I be concerned? Besides performing a full survey on the boat and engine are there any other checks I can conduct to ensure I won't have problems in the future? Or should I just walk away?
Any suggestions would be appreciated.

Mike

menzies 01-22-2019 05:03 PM

What discount on price from others you see listed?

AusCan 01-22-2019 05:19 PM

I'd check that it has been completely rewired. 30-40 year old wiring should be fairly obvious.
Check how well the hull repairs have been done as well. It must have been damaged to allow water intrusion.

If it has all been repaired properly, I'd be willing to buy at less the average market price.

swampyankee 01-22-2019 05:22 PM

Was it declared a total loss by the insurance company? If so, it might make it more difficult to insure. Give the surveyor as much details of the sinking and repair work as you can. They can put a bit more attention to ensure repairs were done right and nothing is deteriorating prematurely.

Capt Mike 01-22-2019 05:41 PM

I can't find any direct comparison to this model and year trawler but from what comparisons I can make it seems to be average to slightly less than average asking price for her.

Mark P 01-22-2019 05:46 PM

Mike. Getting insurance for what is essentially a sunk boat may be your biggest issue. If this is disclosed in the application process, then if you get insurance, great. But donít hide it because if something goes wrong big time, insurance will investigate the history and deny coverage.

yummysalmon 01-22-2019 05:49 PM

I have brought drowned whale watching boats to life
 
What boat is this, Rawson or what? Also what exactly happened to this boat? How was it repaired? Send pics of the repairs.

I own a whale watch company and look for drowned boats lol but it is very tricky and sometimes can cost way more than what it looks like. I need more info to help.

Capt. Gutch

907-321-2853 you're more than welcome to call me too for questions. Sounds like a big decision. I have grown up commercial fishing and installed more engines and gears than I care to think about.

menzies 01-22-2019 06:01 PM

Quote:

Originally Posted by Capt Mike (Post 734041)
I can't find any direct comparison to this model and year trawler but from what comparisons I can make it seems to be average to slightly less than average asking price for her.

Then surely you should consider those other comparative boats that are the same price and have not been sunk?

Or are you thinking that the post-sinking upgrades make her a better buy?

Capt Mike 01-22-2019 06:05 PM

I hadn't considered the insurance angle. How would I know if it was declared a total loss or if it will be a challenge to insure? I guess I can call my current insurance broker and ask, but outside of that is there another way of knowing a boat's history? Like a CARFAX for boats?

Capt Mike 01-22-2019 06:07 PM

I think the engine rebuild, new genet and other upgrades are certainly worth considering. The rest of the trawler is in very good condition as well, seems the previous owner put a lot of money into maintenance and upgrades.

djmarchand 01-22-2019 06:43 PM

Boats don't have salvage titles like cars, particularly USCG documented vessels. I would confirm that the entire wiring was redone including all engine harnesses. That is the thing that can plague you forever if it got seawater in it.


Then if it is in good condition for its model and age and it is priced very competitively against others without its history then with a good survey I would go ahead. It is the survey that will determine insureability, not previous water damage.


David

Seevee 01-22-2019 07:00 PM

For an 80ish sunken trawler, regardless of what was rebuilt is NOT an expensive boat. I would guess that his boat is selling for $20K TOPS, probably a lot less. So, insurance is not a issue, just don't insure it... not worth it.

But I'd be absolutely SURE anything below were it flooded was new or rebuilt. New writing, hoses, and anything electrical for sure.

It isn't mentioned how big and that could make a difference, so because most trawlers are in the 35 to 45 foot range, I'd expect it to be the same, unless the OP says otherwise. Also, no mention of the make, which could make a difference.

And to be SURE the damage was repaired and everything below the "flood" level was replaced could cost a large percentage of what the boat is worth.

For "me", I wouldn't even spend the time looking at it... just WAY too many negative with a ton of much better boats out there.

BruceK 01-22-2019 07:38 PM

Consider making the sale contingent on the boat being insurable by a reputable insurer without loading for the history of sinking.

Mark P 01-22-2019 07:53 PM

On the insurance, Hull replacement or damage to your vessel is not the issue. It is liability (eg broken steering control sends your 30k trawler into the side of docked Nordhavn 63.). Thatíll be a big bill.

Ken E. 01-22-2019 08:41 PM

Price-wise, I'd start at about half the asking prices of similar boats and work downward from there. I know of a couple brought-back-from-dead boats that were a continuum of problems later. For me, I'd walk and not deal with damaged goods.

Seevee 01-22-2019 09:50 PM

Quote:

Originally Posted by Mark P (Post 734102)
On the insurance, Hull replacement or damage to your vessel is not the issue. It is liability (eg broken steering control sends your 30k trawler into the side of docked Nordhavn 63.). Thatíll be a big bill.

You can pick up liability pretty cheap.... and for a boat like this it would be a must.

Seevee 01-22-2019 09:52 PM

Capt Mike,

I just gotta ask.....

You have a 2000 Mainship which is a NICE boat. What the heck is the appeal to a much older boat with major damage history?

Wxx3 01-22-2019 09:58 PM

Quote:

Originally Posted by Seevee (Post 734074)
For an 80ish sunken trawler, regardless of what was rebuilt is NOT an expensive boat. I would guess that his boat is selling for $20K TOPS, probably a lot less. So, insurance is not a issue, just don't insure it... not worth it.

But I'd be absolutely SURE anything below were it flooded was new or rebuilt. New writing, hoses, and anything electrical for sure.

It isn't mentioned how big and that could make a difference, so because most trawlers are in the 35 to 45 foot range, I'd expect it to be the same, unless the OP says otherwise. Also, no mention of the make, which could make a difference.

And to be SURE the damage was repaired and everything below the "flood" level was replaced could cost a large percentage of what the boat is worth.

For "me", I wouldn't even spend the time looking at it... just WAY too many negative with a ton of much better boats out there.

AND not only insurance will be hard to get, it will be very hard for you to re-sell.
This boat pretty much has no value, since the risk in unknown, yet a boat this age in prefect condition is worth only so much.

The fact that you are still considering it as "just less than average value" tells me you do not understand the risks. :eek:

These kind of deals ONLY work for the owner at the time of the incident, because they already have money sunk (figuratively) in the boat.

You will not regret walking, no running away.:dance:

hollywood8118 01-22-2019 10:43 PM

I guess i will be one of the opposing opinions to most of the posts.


If the following statements are true I would consider the boat:


All motors, engines, wiring, electrical components, were replaced and now have low hours.
If there was no water damage to be found.. anywhere.
If there where no strange squeaks, smells, odors, of signs of corrosion.
If insurance coverage wasn't an issue.
If it was attractively priced to other comps
It was a good value and i wasn't looking to sell it anytime soon.


Why not? if it has good history AFTER the repairs it shouldn't be any problem.
Some view damaged boats like a potential spouse that has been around the block a few times and has a lot of baggage.. there not..



HOLLYWOOD

SoWhat 01-23-2019 12:37 AM

the engine wasn't replaced. It was rebuilt. that could mean almost anything. New mains, valves, rings would qualify as a rebuild. New starter, alternator, wiring harness would not. So you may have an engine and transmission with significant internal corrosion.

Wouldn't bother me if the asking price was substantially less than the average selling price of similar boats but it doesn't appear to be. I think I'd be tempted to lowball it.


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