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Old 08-08-2013, 05:55 AM   #3
psneeld
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City: Ft Pierce
Vessel Name: Sold
Vessel Model: Was an Albin/PSN 40
Join Date: Oct 2011
Posts: 28,149
Worth? A word often used in the "used" boat world that I have come to learn doesn't mean a thing.

First...many will tell you boats provide pleasure that is "worth" more than money...well these are the same guys that will beat you up when buying your boat because the stitching on the bimini cover looks "suspect".

For me...I knew my trawler was probably a throwaway...meaning I had to buy one in less than perfect shape and there was no way I was going to "restore" to original...to me not worth the time, money or aggravation. I had to move aboard and get on with life. When done with it in 20 years...if it brings money to my kids great,...if not...I'll have to will them the crush and dumpster charge. My guess it will bring something as it will be a functioning cruiser...just not spit and polish and approaching 50 years old at that point.

My boat had a relatively new rebuilt engine in her and the rest was as bad or worse than the boat you describe. I paid about 1/2 or $40,000 less than the others out there in "good" condition (+/- $90,000). After several years of slaving away on her...yes...I could probably get my money back out of her...but the sweat equity...no way. Auscan is correct that if I paid a yard to do the $50,000-$100,000 worth of work...I would certainly never get that back either.

My basic feel for project boats is that the boat you describe should be less than $50,000...maybe in the $30's due to the bad engine...maybe it's a bit higher because every other system is brand new...but that's a wild guess. Sometimes boat's worth is based as much on what other similar boats are around and what's their asking price. In two months that can change dramatically.
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