Money on a trade? Help.

SportPhish31 · Jul 12, 2012

Okay so let's dive right in. I have well had a 86 searay Seville with omc cobra and engine. I took her out recently and discovered she has a rotten transom and most importantly the forward gear is out. Well I took her to my local shop and got some prices. $600 for rotten transom repaired(I know I could do it for a lot cheaper) and the evil omc gear kit is $800 bucks, an entire reconditioned omc cobra is $1200 if we could find one. So I ask if they buy sell trade and they do. I want more of an ocean boat so he offers me a 78 Grady white 205 gulfstream. It's in pretty good condition needs Minor stuff like a good cleaning and stain for the teak wood but the mercruiser I/O and 5 liter v8 are in great condition and run great. He'll take $500 off the $3000 price tag. Sound like a good deal? I got the sea ray for only $700 so I'm not to torn up about loosing her.

BonairII · Jul 12, 2012

Re: Money on a trade? Help.

Pics would help.

Is he offering any kind of warranty on the Grady?

Home Cookin' · Jul 12, 2012

Re: Money on a trade? Help.

first I'd junk the searay. Look at the Grady as if there were no trade and it was $2,500. The trade aspect can be distracting.

Hopefully you can get some gear off the seary (anchor, etc.) to offset the loss. Consider keeping the better trailer if you can.

BonairII · Jul 12, 2012

Re: Money on a trade? Help.

Home Cookin' said:
first I'd junk the searay. Look at the Grady as if there were no trade and it was $2,500.

I think the dealer is offering $500 for the junker.

If it were me...I'd part out the OMC. Possible to make a decent chunk of change on a running Cobra, I would assume. And probably a few bucks to be made from parting out the outdrive.

SportPhish31 · Jul 12, 2012

Re: Money on a trade? Help.

I'll put pics up tomorrow and ask about a warranty. I'm just 20 years old, I don't think I know enough about omc's to part them out. Plus i have limited space in my yard lol. Does $2500 sound like a good deal for a 78 Grady?

Solittle · Jul 12, 2012

Re: Money on a trade? Help.

Grady has an excellant reputation.

You said "the mercruiser I/O and 5 liter v8 are in great condition and run great." Is that what the seller said and/or did you verify condition. Remember the seller's goal is to get your money into his pocket.

SportPhish31 · Jul 12, 2012

Re: Money on a trade? Help.

I'm gonna take him up on a test drive before I hand him any money. It's more of a backyard garage boat shop but they've been in business since the late 70's and they were recommended to me by a friend. Has anyone heard of any problems with the Grady?

H20Rat · Jul 12, 2012

Re: Money on a trade? Help.

SunsetDockman said:
I'm gonna take him up on a test drive before I hand him any money. It's more of a backyard garage boat shop but they've been in business since the late 70's and they were recommended to me by a friend. Has anyone heard of any problems with the Grady?

You are buying the drive train, not the hull... As you found out with your previous boat, one thing wrong on the drivetrain and you basically toss the hull away. (or give it away for $500) With a 1978, I'd pay very serious attention to the engine. Compression check wouldn't hurt either.

SportPhish31 · Jul 12, 2012

Re: Money on a trade? Help.

That's a great point sir. Ill be sure to get that checked. What should the psi be?

BonairII · Jul 12, 2012

Re: Money on a trade? Help.

Solittle said:
You said "the mercruiser I/O and 5 liter v8 are in great condition and run great." Is that what the seller said and/or did you verify condition. Remember the seller's goal is to get your money into his pocket.

Here's my take on this whole thing.....

The dealer KNOWS that you are young and new to boats/boating, so he is going to expect you to believe EVERYTHING he has to say at face value. Don't accept his first offer, it's very doubtful that he offered you the very best deal right out of the gate.

Make sure to inspect every inch of the Grady and then negotiate some kind of warranty. If he balks at any warranty then he doesn't trust the Grady(and the motor) to last....or he already knows that it has problems.

SportPhish31 · Jul 12, 2012

Re: Money on a trade? Help.

Yeah he's an old timer so he's slick. I'm gonna try to talk him down. Im going to take tons of pictures and put them up tomorrow. Thanks to everyone whose helping me out here. I really appreciate it bro.

BonairII · Jul 12, 2012

Re: Money on a trade? Help.

SunsetDockman said:
Yeah he's an old timer so he's slick. I'm gonna try to talk him down.

The best way to talk him down......is to stand your ground.

Don't pull the trigger at the end of the negotiation, unless you are VERY satisfied with the deal.

tpenfield · Jul 13, 2012

Re: Money on a trade? Help.

If you can get rid of a boat that has a rotten transom and an OMC engine for any positive gain, go for it

ezmobee · Jul 13, 2012

Re: Money on a trade? Help.

Sounds like it has the POTENTIAL to be a nice deal if you check everything out carefully and go on a lengthy test drive. Good luck.

Home Cookin' · Jul 13, 2012

Re: Money on a trade? Help.

I think it boils down to whether the seller is trustworthy and honest or not. He has a chance to sell a good but unmarketable old boat that's taking up space; he gets a runnig Cobra that he can salvage. It could be a good deal all around. It's all about trust.

As to "parting out" --that is way easier than it sounds unless you already have a business set up. The time you spend dealnig with all the logistics, if your time is worth anything, exceeds the little bit of money you get. Or put it this way: if a guy said I'll hire you at $2.00 an hour to spend 20 hours of your free time selling my junk motor for parts, would you do it?

Money on a trade? Help.

Seaman Apprentice

Commander

Fleet Admiral

Commander

Seaman Apprentice

Fleet Admiral

Seaman Apprentice

Vice Admiral

Seaman Apprentice

Commander

Seaman Apprentice

Commander

Moderator

Supreme Mariner

Fleet Admiral