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Old 10-12-2012, 16:53   #1
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Boat: Colvin, Saugeen Witch (Aluminum), 34'
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Added Up The Receipts: $48,484

Started project with hull and wood interior intact. Added pilot house, new sailing rig and replaced most systems with new components. Did not replace or modify the following: Insulation, Ballast, Windlass, Port lights, Water tanks/pumps, Rudder.

With the exception of the canvas work, all labor by me = Free.

$12,129 Sails - Carol Hasse - 2 working, 1 Drifter
$9,838 Engine (40hp Yanmar), shaft, prop and misc
$6,484 Electronics, panel, Batteries/boxes, Solar, wiring, switches, lighting and misc
$4,096 Raw material Aluminum , welding supplies, plywood, glass, plastics
$3,218 Anchors (2), ground tackle, snubbers
$2,869 Rigging (standing is homemade galvanized)
$2,140 Canvas professionally done - wish I was good with a sewing machine
$1,994 Trailer (homemade with salvaged big rig axel), travel lift X2, 2 months moorage
$1,765 Misc Mostly fasteners and plumbing bits
$1,507 Paint, paint supplies (Still have a LOT of paint to buy)
$1,294 Boat Supplies, Safety equipment
$800 Furnace (lost receipt)
$350 Dinghy (2nd hand Walker bay 8)
$48,484 - Total (probably another boat buck or two in lost receipts)

This is a simple boat. The following systems are NOT onboard:
-Water maker
-Air-conditioning
-Autopilot
-A-C power
-AIS
-Winches (we use blocks and bare hands)
-Hot water
-Pressurized water (have foot pump)
-Marine Head (have Portapoti)
-Refrigeration
-Bow thruster
-Propane
-Outboard motor (use oars for dinghy)
-Rescue raft

Other notes:

Spars - homemade (aluminum pipe)
Dinghy davit/radar pole - homemade
Steering system - homemade (Chain and Cable)
Stanchions, rails - homemade
Chain plates - homemade (part of boat)
Hatches - homemade
Fuel tanks homemade (alum)
Thru hulls homemade (alum)
Anchor roller homemade (part of boat)

I hope someone can use this information to help estimate the cost of materials for their boat project.

Steve
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Old 10-12-2012, 18:07   #2
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Re: Added Up The Receipts: $48,484

Next time, buy an Egyptian felluca. It's as bare as it can be, but it has been sailing the Nile river forever. And...it won't cost you that much!
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Old 10-12-2012, 18:22   #3
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Re: Added Up The Receipts: $48,484

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Originally Posted by Teknav View Post
Next time, buy an Egyptian felluca. It's as bare as it can be, but it has been sailing the Nile river forever. And...it won't cost you that much!
Hey, those felluca are cool. Love that simple rig. Not sure how well one would do crossing Dixon Entrance in a blow however.

Steve
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Old 10-12-2012, 18:25   #4
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Re: Added Up The Receipts: $48,484

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Originally Posted by Panope View Post
-Winches (we use blocks and bare hands)
No winches. Whoa! That's hardcore.
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Old 10-12-2012, 19:21   #5
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Re: Added Up The Receipts: $48,484

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No winches. Whoa! That's hardcore.
Arrrrrrg.
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Old 10-12-2012, 19:24   #6
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Re: Added Up The Receipts: $48,484

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Arrrrrrg.
We feel the same way; only one of our winches is electric.
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Old 10-12-2012, 19:29   #7
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Re: Added Up The Receipts: $48,484

I made the decision years ago to NOT keep any receipts for boat upgrades/maintence. Two reasons: I didn't want to know, and I certainly didn't want the wife to know!
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Old 10-12-2012, 19:30   #8
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Re: Added Up The Receipts: $48,484

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I hope someone can use this information to help estimate the cost of materials for their boat project.

Steve
I hope this isn't a rude question, but I'd be interested to know - how do you think the cost of this project compares to having purchased a complete boat in condition similar to your finished boat?
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Old 10-12-2012, 19:30   #9
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Re: Added Up The Receipts: $48,484

Whatever you paid, it sure seems like it was worth it. Cool boat!

And I see in your album that it's a trailer-sailer, too!

Cruisers & Sailing Forums - Panope's Album: Boats and Family - Picture
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Old 10-12-2012, 19:32   #10
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Quote:
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I made the decision years ago to NOT keep any receipts for boat upgrades/maintenance. ...., and I certainly didn't want the wife to know!
She must not be the Quicken Nazi that mine is...every dang thing gets recorded.
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Old 10-12-2012, 19:35   #11
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Re: Added Up The Receipts: $48,484

Wow.. read the title and thought it sounded about right for an oil change!...... In a freighter!
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Old 10-12-2012, 20:12   #12
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Re: Added Up The Receipts: $48,484

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Originally Posted by ArtM View Post
I hope this isn't a rude question, but I'd be interested to know - how do you think the cost of this project compares to having purchased a complete boat in condition similar to your finished boat?
Your question is not rude at all. I may not be the best person to answer as I have never bought (or sold) a boat. My guess is that it would be cheaper to buy a finished boat.

The $$$$ factor for this project was never really considered. This boat has been in the family since I was 7 (1976) and I have an emotional attachment to it that overrides any possibility of my making wise financial boat decisions .

Also, I really like building stuff. It truly is half the fun (or more). I spread the project out over 12 years and worked on it when I had spare money and time. Would do it all over again for sure.

Steve
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Old 11-12-2012, 10:57   #13
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Re: Added Up The Receipts: $48,484

I forgot to mention that I estimate about 4,000 man hours (over 12 years) into this modification/refit project. At times I work fast but mostly this was a project to savor.

Steve
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Old 11-12-2012, 11:06   #14
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Re: Added Up The Receipts: $48,484

Quote:
Originally Posted by ArtM View Post
I hope this isn't a rude question, but I'd be interested to know - how do you think the cost of this project compares to having purchased a complete boat in condition similar to your finished boat?
Often it becomes the appreciation of doing the project and doesnt make financial sense at all. If he had bought the boat and put the $48k into it, chances are good the $48k is a total loss at resale. Not so bad in this case as it sounds like he inherited it....?
Purchasing a boat near ready is likely the better answer, but an option that many people dont do.
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Old 11-12-2012, 12:01   #15
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Re: Added Up The Receipts: $48,484

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Originally Posted by Cheechako View Post
Often it becomes the appreciation of doing the project and doesnt make financial sense at all. If he had bought the boat and put the $48k into it, chances are good the $48k is a total loss at resale. Not so bad in this case as it sounds like he inherited it....?
Purchasing a boat near ready is likely the better answer, but an option that many people dont do.
All of the above true. Yes, I inherited boat.

Interesting that my fathers receipts from the original build (1976-82) also totaled about 50K (included professionally-built hull and everything else).

My advice is the same that has been given a thousand times on this forum: If you want to go sailing, buy a finished boat. If you want to work on a boat, get a project.

Steve
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