Spyder1234
Cadet
- Joined
- May 10, 2010
- Messages
- 27
Hey guys I'm kinda new here and need some situation assessment help. A decision needs to be made and I want to make the right one for the right reasons and hope I'm not the only one that has been stuck in a situation like this.
The thought of buying another boat is not an option for me. But anyway, here's a little background on the boat itself and what I have into it. I have an 1987, 26' Wellcraft-Nova Spyder with twin 350 Mags and alpha one drives. It was a bank repo. The bank sat on this boat for nearly three years before I bought it. It had only 267 hours on it at the time. The defaulted note owed on the boat at the time was $22,000.
The folks at the marina would pull the boat out every year and let it sit in the water (salt) tied to the dock, (without a for sale sign on it) uncovered all summer and then store it again. The bank confessed that they were paying the local marina $3,200 per year in storage, slip and maintenance fees and had concerns that they were not only pricy, but not on the up and up about making sure the boat was always seen as "For Sale".
The bank president incated the he would rather take a hit on the boat rather than pay for another year of storage. (they already had paid $9,600 in storage fees thus far)
Long story short. Just for the hell of it, I made an offer of 5,300.00 for the boat and trailer. After the guy at the bank stopped laughing and to my amazement, they took the offer, and I took her home that day. That was over years ago and have had her ever since. The old girl has served me well. I mean she owes me nothing and most likely is not worth anything to anyone else.
The ONLY thing this boat needs is the transom. Everything else was replaced years ago after I bought it. It didn't need it but I replaced both engines, manifolds, full closed cooling, aluminum hi-rise intakes. new starters, alts, carbs, props, Y-tubes, interior and gauges anyway. What you see here is the way she has looked since then. I remove the interiors every fall and keep inside and it is still in mint condition. So it needs nothing, but a transom of course. This will give you the "general" condition of the boat.
http://www.youtube.com/watch?v=vHfmj-rtIroWhen I yank the engines & transom plates and get a closer look, I'll upload more detailed pics and video.
I have done quite a bit of research on this subject and am aware that's a huge undertaking. Particularly for this boat. But I wanted to know from those that have done it, was it worth it to you? and why did you do it? And if not, why?
Any input would be gratefully appreciated...
Spyder
The thought of buying another boat is not an option for me. But anyway, here's a little background on the boat itself and what I have into it. I have an 1987, 26' Wellcraft-Nova Spyder with twin 350 Mags and alpha one drives. It was a bank repo. The bank sat on this boat for nearly three years before I bought it. It had only 267 hours on it at the time. The defaulted note owed on the boat at the time was $22,000.
The folks at the marina would pull the boat out every year and let it sit in the water (salt) tied to the dock, (without a for sale sign on it) uncovered all summer and then store it again. The bank confessed that they were paying the local marina $3,200 per year in storage, slip and maintenance fees and had concerns that they were not only pricy, but not on the up and up about making sure the boat was always seen as "For Sale".
The bank president incated the he would rather take a hit on the boat rather than pay for another year of storage. (they already had paid $9,600 in storage fees thus far)
Long story short. Just for the hell of it, I made an offer of 5,300.00 for the boat and trailer. After the guy at the bank stopped laughing and to my amazement, they took the offer, and I took her home that day. That was over years ago and have had her ever since. The old girl has served me well. I mean she owes me nothing and most likely is not worth anything to anyone else.
The ONLY thing this boat needs is the transom. Everything else was replaced years ago after I bought it. It didn't need it but I replaced both engines, manifolds, full closed cooling, aluminum hi-rise intakes. new starters, alts, carbs, props, Y-tubes, interior and gauges anyway. What you see here is the way she has looked since then. I remove the interiors every fall and keep inside and it is still in mint condition. So it needs nothing, but a transom of course. This will give you the "general" condition of the boat.
http://www.youtube.com/watch?v=vHfmj-rtIroWhen I yank the engines & transom plates and get a closer look, I'll upload more detailed pics and video.
I have done quite a bit of research on this subject and am aware that's a huge undertaking. Particularly for this boat. But I wanted to know from those that have done it, was it worth it to you? and why did you do it? And if not, why?
Any input would be gratefully appreciated...
Spyder
