|
|
02-03-2016, 09:31 AM
|
#1
|
Senior Member
City: Pensacola, FL
Vessel Name: Sea Triscuit
Vessel Model: Transtar 50'
Join Date: Dec 2015
Posts: 202
|
Project on eBay - even free not worth it?
There's an interesting (cheap) 1983 35' Chien Hwa on eBay with no reserve and currently at $940 just a 100 or so miles from me (link is below). While I'm not considering it, I am interested from a purely educational standpoint as to what it might take to get this thing running as my wife and I continue to look and learn. Yes, I realize it's pure speculation and there is no way to know for sure.
Clearly the boat needs engine work, worst case rebuilt engine at ~$10k?
Windows show water damage, so replace or reseat most/all of the windows and repair interior water damage. Is there the possibility of black mold or serious damage throughout the boat?
I'm assuming that soft decks are likely, so perhaps most of the deck would need to be cut, re-cored, and then glassed. Either lots of owner time or ~$10-15k for a professional?
No serviceable electronics it appears. Assume heads are shot as well? What are the chances of the electrical system functioning more or less correctly?
Would fuel tanks be another concern?
Are there concerns with the hull, such as blistering? What about the transmission and running gear? More areas for concern I'm assuming.
And then there would be all the cosmetic work...
My conclusion is that paying any amount of money for this boat is probably a losing proposition. Because the seller won't allow a potential buyer to see the boat first, it's impossible to know exactly whats wrong and what's wrong could far exceed the cost of buying a similar boat in acceptable condition. Am I likely correct in my line of thinking?
Or could you buy it, leave it at the marina for the $150 a month, assess it, and if it's too much work just sell it locally for someone who never wants to run it, just live on it?
Thanks for playing along and helping educate me!
1983 Chien Hwa Trawler 35' Perkins 6 3544 Series Diesel MS No Fees No Reserve | eBay
|
|
|
02-03-2016, 09:53 AM
|
#2
|
Enigma
City: Slicker?
Join Date: Oct 2007
Posts: 16,563
|
Greetings,
Mr. P. Whoo boy! Boat needs work? All of the above (post #1). Could be easy cheap fixes (mechanical) but most probably not. Leaks and cosmetics tend to be very labor intensive so if someone actually prefers working on boats rather than boating...sure. Probably a good project IF the marina will allow you to work on it on their property.
__________________
RTF
|
|
|
02-03-2016, 09:55 AM
|
#3
|
Guru
City: Pahrump, NV
Vessel Name: Pairadice
Vessel Model: Sold Selene 47
Join Date: Jul 2014
Posts: 1,967
|
Lots of possibilities, most likely the salvage would make the most sense. Oh to be 40 years younger.
|
|
|
02-03-2016, 10:04 AM
|
#4
|
Guru
City: Fort Lauderdale. Florida, USA
Join Date: Jan 2014
Posts: 21,449
|
If will take many times more than it cost to build it originally. Sadly this boat isn't misrepresentative of what non-profits often encounter. Now, there are people who donate large items of value to be auctioned on behalf of charities. But then there are those who donate total pieces of junk getting a completely unreasonable receipt for an overvalued donation.
If you're a DIY'er for every dollar you spend, you may get $0.50 value in return but only if you finish the job. For anyone else 25% return is the most you can expect.
It's a huge gamble and without examining it only estimates could be given. Here are mine.
For a DIY'er. Cost to get it to decent shape $25k - $75k. Low end assumes just cosmetics to interior, minor engine repairs, electronics, and minor work throughout. Upper end assumes replace engine and all electronics, hull work, painting, appliances, and much interior work.
For a non-DIY'er just double those numbers $50k - $150k.
I know the intentions of some donating large items like boats and cars is good, but for most it's to get a larger deduction than the value of the item. Otherwise, they'd just sell it and donate the money. The one exception is select items and celebrity items where high dollar bidding will take place and bidders will pay far more due to the cause than they would otherwise. We went to one of those auctions and were just in shock.
Another tricky donation is stock, but in that situation everyone often wins. The person donating chooses a stock that is worth far more than they paid. By not selling it they don't pay the capital gains tax, but they do get to deduct it's current value. The charity gets it's current value.
|
|
|
02-03-2016, 10:47 AM
|
#5
|
Guru
City: Fort Pierce
Vessel Name: Florita Ann
Vessel Model: 1982 Present
Join Date: May 2014
Posts: 1,935
|
Put your back to the boat....then run, run, run.
|
|
|
02-03-2016, 05:00 PM
|
#6
|
Senior Member
City: Magothy River, MD
Vessel Name: Sabrina
Vessel Model: '85 KK36 Manatee
Join Date: Sep 2015
Posts: 106
|
Quote:
Originally Posted by Panhandler
Because the seller won't allow a potential buyer to see the boat first,...
|
Seriously? You can't see the boat first?
|
|
|
02-03-2016, 05:04 PM
|
#7
|
Enigma
City: Slicker?
Join Date: Oct 2007
Posts: 16,563
|
That's what the ad says. Supposedly to protect the seller's confidentiality...
__________________
RTF
|
|
|
02-03-2016, 05:53 PM
|
#8
|
Guru
City: Venice Louisiana
Join Date: Dec 2013
Posts: 1,097
|
JMO, this boat is straight up junk. It has a negative value. If you bought it your only way out would be to sue the seller for misrepresentation. fair shape, really ?
|
|
|
02-03-2016, 07:00 PM
|
#9
|
Guru
City: Here
Join Date: Sep 2012
Posts: 2,940
|
Good God ! I can smell it from here.
|
|
|
02-03-2016, 07:43 PM
|
#10
|
Guru
Join Date: Apr 2014
Posts: 1,288
|
Project boats are only worth the effort if you can do the work and enjoy rebuilding more than boating or are of historical or collector value. They rarely make financial sense by any standard.
|
|
|
02-03-2016, 07:55 PM
|
#11
|
Guru
City: Fort Lauderdale. Florida, USA
Join Date: Jan 2014
Posts: 21,449
|
Quote:
Originally Posted by eyschulman
Project boats are only worth the effort if you can do the work and enjoy rebuilding more than boating or are of historical or collector value. They rarely make financial sense by any standard.
|
And just because it's old, doesn't mean it's valuable. Guess I've watched too much Pawn Stars, but that line is true. If you're going to take on an older boat to restore then make it one where the name or the style will make it desirable. No Chien Hwa. Restore an old Chris Craft or Post or Hatteras or Grand Banks.
|
|
|
02-03-2016, 10:21 PM
|
#12
|
Senior Member
City: Pensacola, FL
Vessel Name: Sea Triscuit
Vessel Model: Transtar 50'
Join Date: Dec 2015
Posts: 202
|
Thanks, all. Glad to know my initial thoughts were correct!
|
|
|
02-04-2016, 12:11 AM
|
#13
|
Guru
City: Sydney
Join Date: Jul 2015
Posts: 1,646
|
As my grand father would have said cheaper to give it away than pay for the funeral.
|
|
|
02-04-2016, 06:18 AM
|
#14
|
Guru
Join Date: Jun 2008
Posts: 5,036
|
If you had a pond and room in your backyard......you could reenact the Gilligan's Island episodes
__________________
Jay Leonard
Ex boats: 1983 40 Albin trunk cabin, 1978 Mainship 34 Model 1
New Port Richey, Fl
|
|
|
02-04-2016, 07:36 AM
|
#15
|
Guru
City: Sarasota/Ft. Lauderdale
Join Date: Apr 2014
Posts: 5,438
|
Quote:
Originally Posted by jleonard
If you had a pond and room in your backyard......you could reenact the Gilligan's Island episodes
|
|
|
|
02-04-2016, 08:23 AM
|
#16
|
Senior Member
City: Memphis
Vessel Name: Ivory Lady
Vessel Model: 46 Jefferson
Join Date: Jun 2015
Posts: 275
|
Pull out what is reusable/sell-able, tow to deep waters, "salvage" those reusable through hull fittings, sail away.
|
|
|
02-04-2016, 08:39 AM
|
#17
|
Technical Guru
City: Wilmington, NC
Vessel Name: Louisa
Vessel Model: Custom Built 38
Join Date: Jan 2014
Posts: 6,194
|
Will be interesting to watch the bidding over the next few days. Up to 1200 or so now. Could see a bidding war develop.
|
|
|
02-04-2016, 09:08 AM
|
#18
|
Guru
City: Fort Lauderdale. Florida, USA
Join Date: Jan 2014
Posts: 21,449
|
Prediction. It will sell. The sale will not go through. It will be for sale again.
|
|
|
02-04-2016, 09:17 AM
|
#19
|
Guru
City: Concrete Washington State
Vessel Name: Willy
Vessel Model: Willard Nomad 30'
Join Date: Oct 2007
Posts: 18,743
|
I've never heard of a trawler w an IO. It says "inboard outboard". Did they actually make an IO powered trawler?
__________________
Eric
North Western Washington State USA
|
|
|
02-04-2016, 09:32 AM
|
#20
|
Technical Guru
City: Wilmington, NC
Vessel Name: Louisa
Vessel Model: Custom Built 38
Join Date: Jan 2014
Posts: 6,194
|
IO part is probably a typo.
|
|
|
|
|
Thread Tools |
Search this Thread |
|
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Trawler Discussions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|