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Old 04-04-2019, 10:07 PM   #1
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The shame

I stand before you, tail between my legs as an owner of one of those boats. The sorry cases you walk by at the marina streaked in dirt, a veritable science experiment being grown on the hull below the waterline etc. She was very much our pride and joy until a series of life changes turned our focus away from our once shining example of vintage fibreglass. I am very sorry to say that the time is nigh for us to part with the vessel that took us on so many family adventures along BC's stunning coastline. My question is this...should I spend the time and money (more time than money) to bring our old Grand Banks 42 back to spit and polish condition or take a bit of a financial beating and put her up for adoption "as-is"?
I'm wondering what the collected expertise here would advise... The ancient Onan genset is tempermental and virtually impossible to find parts for, the exterior varnish needs a complete re-do, much of the exterior canvas is nearing 10 years old and looking a bit tired, I've also found some rot on the aft wall of the master stateroom from a chronic leak.
Each and every issue is easily addressed by somebody handy and with time to spend except possibly the generator.
Cosmetics aside she's fully seaworthy and has many, many years of service left in her (5200 hours on twin Lehmans)
Am I better off taking a year or so to fix everything myself or sell her in the state she's in?
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Old 04-04-2019, 10:35 PM   #2
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I would get a broker to give you an opinion on what the current value and prospective value if you do the repairs. Add in the cost of moorage, insurance and ongoing maintenance to the cost of the materials and see what the numbers come out to. Then make an informed decision.
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Old 04-04-2019, 11:25 PM   #3
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Between the time,energy, money and frustration to bring her up to her original beauty, you’ll find that making a clean break and hopefully a quick sale will solve the problem.
If you did all the repairs, maintenance and cleaning that you feel are required to present her in a favorable position, not to mention the moorage, utilities, taxes and such, it will cost you more in the long run. Clean her up as best as you can and hope she finds a new owner that will cherish her as you did.
And then move on to the next chapter.
Best of luck.
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Old 04-04-2019, 11:38 PM   #4
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Wifey B: If I had no plans to go boating, I certainly wouldn't spend my time and energy sprucing up a boat. I'd get it cleaned and that's about it. Get on with what you're going to do in your life rather than focusing on a boat you're about to dump.
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Old 04-04-2019, 11:53 PM   #5
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I spent months getting a boat in bristol condition prior to sale. Did NOT get any more money than if I had sold it as is. Just was not worth the time and effort. Sell it. Move on.
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Old 04-05-2019, 12:21 AM   #6
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Suggest empty everything, and yes everything, that is in drawers, cupboards, bilges and on deck. If you've got ratty canvas, maybe Chuck that too.Then hire somebody capable to detail boat inside and out. Then keep it spotless until sale done.
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Old 04-05-2019, 01:05 AM   #7
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+1 to all the advice above.

To add a bit, when you price the boat, price it to actually sell.
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Old 04-05-2019, 05:25 AM   #8
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"Paint sells the boat".

The majority of folks looking are purchasing there dream which seldom includes a year of work.

Yes there are "fix er up" folks that prefer working on a boat to actually using the boat ,but they are rare and want to dream their labor is valued like a boat yard and want a fantastic low ball price.
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Old 04-05-2019, 06:34 AM   #9
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Sad to hear. Which is why I tell people to live for today but plan for tomorrow, as you don't know what tomorrow will bring. Quit putting things off until the timing is "perfect."

Our last boat, while I was working and we had three children (with friends) around, was a 1989 Silverton Aft Cabin. We built hundreds of memories on her. A couple of years before retirement we put her on the market. She was only worth around 35-40K. She didn't sell during those years and we were ready to buy the retirement boat.

So we donated her to Safe Harbour. Best decision we ever made, gave something back while allowing further memories to be built, and freed us up to move on.

While I am not suggesting that you do the same, I am suggesting that you move it as fast as you can regardless if what you get for it. You will feel the freedom of moving on, regardless of what moving on means to you.

Good luck.
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Old 04-05-2019, 06:17 PM   #10
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I donated our previous boat to the marine program at the high school my kids went to. I had embarked on a restoration, got it mostly done and then lost interest. I was restoring a 1970 Charger R/T at the same time. That project I did complete and she is a beauty.
Got a tidy tax refund for the donation too. I would probably sell the boat after a bit of cleaning. (yours, that is)
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Old 04-05-2019, 08:21 PM   #11
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Quote:
Originally Posted by Comodave View Post
I would get a broker to give you an opinion on what the current value and prospective value if you do the repairs. Add in the cost of moorage, insurance and ongoing maintenance to the cost of the materials and see what the numbers come out to. Then make an informed decision.



Many good comments in reply to the original post ... However a Broker that will give you an honest opinion ( that does not serve him ) ? let me know when you find one ... fb
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Old 04-05-2019, 09:38 PM   #12
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Old 04-06-2019, 04:45 AM   #13
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Many different opinions and we were/are all buyers.


Goes to show no correct answer.


You could really clean up your boat and it could still not sell for a variety of reasons, mostly because there are similar boats with a "better" something pulling buyers away...especially true in older boats.


But I have to agree that a "dock derelict " is a tough sell..even a tough " give-away" in some cases.
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Old 04-06-2019, 06:07 AM   #14
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I think without addressing the obvious issues, you will have a real hard time selling the boat. As a buyer, if a boat is a project, they are likely to just move in to the next one.

And take a brokerís advice with a grain of salt. Your boat will be great, easy to sell, and fetch a good price - until they have the listing. Then the ďmarketĒ will dictate that you fix it up and lower the price.

I hate to say it, but I think you need to fix it up AND expect a lower price. At least thatís how it always seems to work out for me.

I think I would focus on whatís needed to sell the boat. Empty it and clean the heck out of it. I would do the varnish since thatís the first thing people will see. If the canvas looks like crap, just junk it and donít replace. No canvas is better that junk canvas. Iím not sure about the rot. You have to assume it will be found in a survey, but maybe by then a buyer will be committed enough to still move forward with a price adjustment. But if itís visible by casual inspection, then I think you will need to fix it.

With all this in mind, you other alternative will be to donate or sell at a real bargain price, and you should seriously consider that. As others have said, think about how you want to be spending your time.
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Old 04-06-2019, 06:52 AM   #15
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1. Clean it.
2. Inexpensive fixes that make things work. A bow thruster switch. A lightbulb. Fuses.
3. Clean it.

Nothing else is worth your valuable time unless you enjoy it or have cheap labor.
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Old 04-06-2019, 07:11 AM   #16
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Letting it go is the smart move.

I think a vessel in sad shape that cannot move reliably will be difficult to find a new home. If you can find a local buyer not that important. Price it right you may find a buyer sooner than later.

If you are attempting to reach a broader audience have your own mechanical survey done to find out what you don't know. Perform any service needed to insure it is ready to run. A detailed survey you can share with follow-up on significant findings may also get you visits from folks that might not otherwise show-up.

If it shows very poorly most will assume the worstÖ
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Old 04-06-2019, 07:30 AM   #17
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Clean it spic and span.... then, do a mechanical pre-sale survey. Fix what you can easily fix and provide this survey to serious potential buyers. No secrets, no secrets. It may sell faster. You will be one of the few sellers who provide enough information so the potential buyers an "informed choice".
Also, after you sell the boat, please make yourself available to answer questions.
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Old 04-06-2019, 07:38 AM   #18
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My recent experience is that buyers want a perfect boat, cheap. Brokers will probably advise spending your money to fix it up because that's what buyers want.

I would first try to sell it as a fixer. Meanwhile get estimates on fixing and how the price might change.
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Old 04-06-2019, 07:49 AM   #19
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My recent experience is that buyers want a perfect boat, cheap. Brokers will probably advise spending your money to fix it up because that's what buyers want.

I would first try to sell it as a fixer. Meanwhile get estimates on fixing and how the price might change.
Has anyone ever looked at a perfect boat? Not, IMO, ever happen.
Sort of like the bride who marries the "perfect" man and then spends the rest of her life making him into the man she always wanted. LOL

You will add, subtract, change and modify the boat to make it "yours." The best you can hope for is, the next buyer will agree with most of your changes.
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Old 04-07-2019, 06:19 AM   #20
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IF its a fixer up boat , it MUST run so the new owner can take it away.
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