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I decided I had to put that in only because of Scott's example. Don't sink your (my) boat before I can get my hands on it!

:)

-Chris
 
The problem with redoing an old boat is nobody wants to pay for all the upgrades when it comes time to sell.
 
The problem with redoing an old boat is nobody wants to pay for all the upgrades when it comes time to sell.

But..no one wants to pay the depreciation on a new boat when it comes time to sell either.
 
The problem with redoing an old boat is nobody wants to pay for all the upgrades when it comes time to sell.

Only partially true...well I guess you did say ALL upgrades.

things like electronics no....

thinks like paint jobs and engines at least some to a lot of it.

like house renovations there are yesses and no to getting some or all of your money back...especially if it is a brand or model that is an oldie but goodie.


for those living aboard...the numbers can be more favorable if you look at it as offsetting higher land living costs for some.
 
The problem with redoing an old boat is nobody wants to pay for all the upgrades when it comes time to sell.

You don't do it with the intent to sell. That's always a losing cause. But to have the boat you want at a lesser cost, it can make sense.
 
There are those that buy and recondition and sell at a profit.
 
My faster-than-hull-speed friends stay with me (while enjoying good fuel economy) in restricted waters until they get into open water when they pull ahead and get early in line for black-water pump outs at next port. Otherwise, usual practice is for me to leave a half hour or so before them.


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"The problem with redoing an old boat is nobody wants to pay for all the upgrades when it comes time to sell."

That is because one persons "upgrade" is another persons DISASTER.
 
As the baby boomers age and die off there will be a ton of used boats of all kinds on the market. The one caveat is they will be old boats. But, a boat is mainly the hull and superstructure. Everything else on and in it is basically "off the shelf."

If they are sound an old fiberglass boat can be brought up to "modern" standards far less expensively than the overpriced, mostly ugly new boats that are being made today. For two or three hundred thousand dollars an old Grand Banks like the 1973 model that is the boat we keep in the PNW can be re-powered with new engines and transmissions, the interior can be completely redone, the hull cosmetically returned to new condition, and new electronics fitted. You end up with what in essence is a brand new boat that's good for another 40 or 50 years.

We seriously considered doing this to this particular boat but decided to put the money into a new custom build someplace else. But I think this fear of a drying up used boat market is totally unfounded. Our 2,000 boat marina is basically a big pond full of potential used boats, as every one of them will be someday. Fixing one up to like-new condition will be far cheaper (unless the boat is really a wreck) than buying a brand new boat with similar capabilities.

I know someone with an early-80s Nordic Tug 26 who's done exactly this. Bought the boat for a song, re-powered it, redid the interior and exterior and the end result is a boat that looks and runs like it just left the factory yesterday. And he spent far less than he would have had he bought one of new reintroduced Nordic Tug 26s.

While my boat wasn't real old (13 yr) when I bought it, this is in essence what I am doing. I will have an almost new boat when I'm finished. Same concept though of buying a boat from a retiring boater for a great price, and then refitting it (to the way I want it) for a small fraction of a new boat price.

Ted
 
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