Lets talk re-sale value on a converted old boat

[joeycamaro]

Sorry, this may be a long, wierd post. I'm interested. I have a 1967 StarCraft holiday deep v, 18ft aluminum runabout style boat with a 90 hp 1986 Johnson VRO. It's a great boat that doesn't leak, runs great, but it's OLD, some butt nasty cream green color with dark green interior, and it's a closed bow. Considering my history with old muscle cars and how I just can't leave well enough alone, I have plans to turn this boat into a center console full open bow. With cars, I usually end up loosing my a$$ on resale because I wind up going over kill on things (7k just in suspension and brakes on my latest build), but with the boat, I'm building everything from scratch. I recently started my homework on center console boats, took a bunch of pics and measurements at the local bass pro boat dealer (Salesman thought I was a little crazy). Here's my plan​:

I'm gutting the boat, cutting the bow open and building the floor up in the front section. I plan to brace the bow and gunnels with square aluminum tubing instead of wood. This will allow me to build the foam up underneath and keep a center channel to the bilge. Auto bilge in the back. New transom wood. New sole, fiberglassed over marine ply to the edges. Not sure about Nautolex for the covering of the sole. I didn't like the way it laid in the boats I looked at, seams were visible. Carpet holds water, I may go with vinyl instead. Goal is to create a "mock" wet deck in that the deck is water proof and ALL water drains to the bilge from the top. This should keep the foam protected and water from sitting in the boat.

Once gutted, all rivet lines get the gluvit from the outside. Boat is getting a fresh coat of paint sprayed with my HVLP air gun. Top to bottom. Goal here is to make the boat look like brand new, something you can wax and shine.

Center console. I'm going to build one from scratch to meet my needs. Gas tank under the front bench, batteries in the console, gauges...etc. All new wiring for the boat, new lights...etc. May get a top for the console as well.

Other stuff as well, but just a lot to mention. Here's what I'm wondering though. Once I'm done, this is going to be a stellar boat, able to jig the rivers and troll big lakes with the versatility to fish just about anything anywhere, but when it comes to selling, it's still a boat from 1967. The older boats never seem to go for very much. Not counting the fish finder and trolling motor/accessories, I have an idea of a budget of about 2k. I bought the boat for $600, the motor for $1500 so total right now $2100 into the boat. After this, total about $6k. The photo attatched is my intentions. Really my main goal is to build a boat that will outlast me and go to my kids, but life is funny, and if done right, this may be a nice investment.

 

[Grandad]

As an investment, it depends upon what you want in return. I think fixing up and customizing an old boat and using it for your family is a great investment if you enjoy the time spent designing and executing the work. The financial investment is relatively low, the elbow grease investment is high and the payback in family enjoyment will pay dividends for years. Purely as a financial investment, it may not be worthwhile. You'll not likely recover in dollar terms what you've put into it, especially the elbow grease. Been there, done that, would do it again.

Seams in Nautolex? No seams in vinyl? I don't have any exposed seams in my Nautolex. Since you mentioned using the boat on big lakes, does that mean venturing into rough seas? An open bow won't stay afloat too long if you start punching the nose into waves. An open bow may be a practical design for your particular use but a closed bow will get you through the rough stuff a lot better. Been there, done that too. - Grandad

 

[Chrisravosa36]

Im sure the thing will look stellar! Get us some PICS!!!!

 

[GA_Boater]

Don't understand, joey. If you're building a boat to give to the kids, the resale value is Zero. The emotional attachment by the kids may be priceless.

Now if the inheritance resale value is what you're talking about, are you kicking off soon? By the time the kids get the boat, hopefully very far in the future, predicting the value is impossible. These aren't investment grade property and what you put into her will never be returned, especially after chopping out the bow and turning her into a CC. It may be best to buy a CC and re-do her.

 

[Woodonglass]

Totally agree, Old Boats are NOT old Cars!! Not even Close. Re-Sale value,no matter how NICE you make her look, will never re-pay your investment in time and materials. Never!!! All you'll have is a really nice boat for you and your family to enjoy for the years you have it.

 

[joeycamaro]

I Honestly have no intention to sell. But with every project, there's a little voice in my head that says there's a safety blanket in selling when things go south. With my car, I have roughly 20k invested, with a re sell value of about 15k due to the market (I also didn't build this to sell). I have never seen anybody do modifications to this extent, then sell and be happy. In retrospect, I know for a fact that I'd be crazy to do this with the intent to make money off the boat. Unfortunately, the mark up on new boats is insane. Wife, kid, baby on the way, house payments and life I'd never be able to dump 30k on a new boat. That said, I can get that type of boat with elbow grease, and a lot of fun.

I am in the process of writing up a detailed budget for the transformation. I plan to start sometime this October, primarily because I love boating and fishing and there's no way I'm missing out on that this year. That, and I never start a project without having the required stuff to complete it. That's how unfinished boats end up on craigslist.

When I do this, I plan to blog it on here. Lot's of pics, measurements...etc very detailed. I've seen a lot of questions on here about converting closed bows to open with very few success stories. Also,to the question about open bows in big water. I'm in Michigan, so lake st Claire, north and south rivers are my main spots. That said, I never tempt fate and will usually not venture out when it doesn't look right.

I'm looking into Nautolex more. I agree there are seams in everything we use, but I'm wondering if the $$ is worth it over carpet or vinyl, and the cut seams over cargo lids seemed like it would start to come loose by use. I could be totally wrong on this though.

With the info you guys gave me, I'm at ease knowing the boat will stick in the family. With those intentions, it's gonna be a really cool boat!

 

[Teamster]

In reality a rebuilt old boat will be worth less than what the motor is worth because there is an old boat attached to it,.....

So,......An 80's era vro should be worth about 500 bucks,.......Less the headache of getting rid of the boat brings us to about 250 bucks,...