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Old 07-28-2018, 06:09 PM   #3
O C Diver
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City: Fort Myers, FL... Summers in the Great Lakes
Vessel Name: Slow Hand
Vessel Model: Cherubini Independence 45
Join Date: Dec 2010
Posts: 12,835
I have a friend with whom I went and did a presurvey examination of a mid 80's Jefferson sun deck trawler. He recently missed a very good condition Jefferson that was listed in the mid $70K. The one we looked at had Cummins that appeared to be ok, newer AC units that needed some attention, heads that didn't work, canvas enclosure that needed to be replaced, and window leaks with some rotten wood below.

He asked my opinion on a price. $20k.

IMO, you need to determine the market value of a turnkey squared away boat of the same make and model. Then start subtracting costs for repairing. Your time has value. If you're going to repair the windows and wood rot underneath, that needs to be subtracted off the value in the same way as the engine repair.

It's important to understand that some boats aren't worth repairing because of the repair cost and absolute value of the squared away value of the boat. This isn't your problem, it's the owners problem. I don't know the particular value of the boat you're lookig at. IMO, with engine, AC, window, and other problems, I don't see how you restore this boat for much less than best market value. If you want to take on the project, offer $10K and count your blessings when he says no.

Ted
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