Value of a Repaired Boat?

[97fxdwg]

Hi All-

A salvage title in the world of 2-wheelers is a major negative for resale, regardless of the condition at time of sale. Is there a similar situation/feeling regarding boats? For instance, say I buy a boat that has been on the rocks, have it repaired by a qualified person/yard/etc., when the day comes to sell it, is there a stigma attached? I'm not talking about buy, fix it up, and expect to sell at a profit, not Flip This House stuff. I'm talking about dealing with the same, NORMAL loss of value as the boat is used and as it ages.

Thanks-

AJ

[ozskipper]

Yes, Any buyer would have an element of doubt and the price would be affected accordingly.. Of course, you may choose not to tell them about the boats history. But that would depend on local disclosure laws and your own sense of morality. But if the price is under the usual second price you will find the boat will sell easier reardless.

[Wand]

Well, I've never heard of stigma being an issue; once a problem is fixed (properly), then it's good to go.

With the exception of the Mary Celeste of course, which was sold very cheaply on its return to Boston. It then changed hands at least a dozen times before being scuttled in an insurance scam. Steer clear of that one should it surface again.

[97fxdwg]

Originally Posted by At sea

Well, I've never heard of stigma being an issue; once a problem is fixed (properly), then it's good to go.

With the exception of the Mary Celeste of course, which was sold very cheaply on its return to Boston. It then changed hands at least a dozen times before being scuttled in an insurance scam. Steer clear of that one should it surface again.

Roger that. Let me write that down, "No Mary Celeste." Flying Dutchman okay though?

Thanks for the input.

[boatman61]

The thing with a 2 wheel wreck is you can buy a new frame and drop everything into it pretty cheap...
a wrecked hull however is a whole different ballgame...

[Wand]

Originally Posted by 97fxdwg

Roger that. Let me write that down, "No Mary Celeste." Flying Dutchman okay though?

Thanks for the input.

The FD would be ideal; no haulout costs...

[Wand]

Originally Posted by boatman61

The thing with a 2 wheel wreck is you can buy a new frame and drop everything into it pretty cheap...
a wrecked hull however is a whole different ballgame...

I suspect the stigma associated with 2-wheel wrecks is that someone has likely been maimed or killed in that saddle - which would make it a bit eerie. That circumstance is unlikely for the crew of a boat that's been holed, brought back to port and repaired. That theory is at least consistent with the fate of the Mary Celeste - she's in the 2-wheel wreck category.

PS: A friend was brought up in a house bought very cheaply by her parents some decades back. The heavily discounted price was because it was the home of three siblings who had simply disappeared, believed abducted. The case has never been solved. Anotther in the 2-wheel wreck category?

[ty.gregory]

okay, fine, but what's the deal with the Mary Celeste? Catamaran?

[Wand]

Originally Posted by ty.gregory

okay, fine, but what's the deal with the Mary Celeste? Catamaran?

[97fxdwg]

Originally Posted by boatman61

The thing with a 2 wheel wreck is you can buy a new frame and drop everything into it pretty cheap...
a wrecked hull however is a whole different ballgame...

The 2-wheeler issue is actually based on the "assumption" that it will never be true again, something tweaked, rolling sideways, rather than the "somebody bit the Big One on this."

I'm gathering that a damaged, and then well-repaired boat is a No Big Deal. That's what I was hoping to hear. And you guys are all experienced experts I understand?

[boatman61]

Originally Posted by 97fxdwg

The 2-wheeler issue is actually based on the "assumption" that it will never be true again, something tweaked, rolling sideways, rather than the "somebody bit the Big One on this."

I'm gathering that a damaged, and then well-repaired boat is a No Big Deal. That's what I was hoping to hear. And you guys are all experienced experts I understand?

ROTFLMBO.... yeah

[aquarian]

Pictures, pictures, pictures. Repair / Resto pictures are hugely helpful for reassuring the wary. Have them taken before after and to show the progress. It makes you feel better to if you aren't the one doing the work.

[delmarrey]

Originally Posted by 97fxdwg

Hi All-

A salvage title in the world of 2-wheelers is a major negative for resale, regardless of the condition at time of sale. Is there a similar situation/feeling regarding boats? For instance, say I buy a boat that has been on the rocks, have it repaired by a qualified person/yard/etc., when the day comes to sell it, is there a stigma attached? I'm not talking about buy, fix it up, and expect to sell at a profit, not Flip This House stuff. I'm talking about dealing with the same, NORMAL loss of value as the boat is used and as it ages.

Thanks-

AJ

Back to the subject at hand!

If a boat has been repaired by the proper procedures then it's value my not drop all that much. Depending on how much work was put into it, it could increase in value.

I did that with a 23 footer once. Bought it for $2300 and sold it three years later for $6500 w/o it's trailer, which I sold for another $750.
I must admit I put a lot of hours and some products into it but still think I broke even. Plus, I sailed it around a bit and it was a better boat for the next guy.

You have to choose your boat wisely. Some boats cost more to repair then what they'll ever be worth.

[boatman61]

Originally Posted by aquarian

Pictures, pictures, pictures. Repair / Resto pictures are hugely helpful for reassuring the wary. Have them taken before after and to show the progress. It makes you feel better to if you aren't the one doing the work.

Thread Drift.............................
Hey Aquarian.... hows the new old boat going... long time no see...

[osirissail]

First off, used boats are sold - "AS IS, WHERE IS" with no warranty or guarantees. Very much like used cars in the bargain lots. It is highly unlikely that you will be voluntarily told if the boat was wrecked or damaged unless such damage is still visually evident. It is up to you and your surveyor to search for signs of repairs due to hull damage or other problems.
- - Usually a blunt straight question to the seller about whether this boat has ever been wrecked/damaged or has incurred major repairs will get an honest but reluctant answer. Or the seller may claim ignorance of what has happened to the boat before they got it and remind you it is being sold "as is, where is."
- - Used boats sold in or from the Caribbean are particularly prone to have had hurricane or other damage and should be minutely inspected. If anything is found then where the boat was repaired becomes important - sort of. Most seriously damaged boats are repaired by unskilled workers under minimal supervision who have no knowledge of stress dynamics or FRG layups for stress points. The just slap on layers of cloth and resin and sand, paint and polish the result so that any damage is hard to visually see.
- - Which is why interior inspection of the hull and bulkheads - behind the furniture/fittings is so important. Ripping out the interior of the boat to reattach bulkheads and stringers, etc. is not cost effective so is rarely ever done.
- - Boats from more northern homes are less likely to have hurricane damage but might have had flooding, fire or sinking damage. Again inspecting behind things is crucial to sniff out prior damaged boats.
- - "Proper" repairs for major damage can be done but if you pay a competent, experienced craftsman to do the job, most likely it will be cheaper to just buy a new boat.
- - For minor damage, where the repair occurred and who did it is important to know so you can check them out. For cosmetic damage the problem of competent repair is not an issue. Correct color and faring is what is important.
- - Bottom line, it is totally up to you to search out and discover the faults/damage/etc. when you are bidding on a used boat. Don't expect anybody on the seller side to volunteer anything.