Am I paying too much? - Larson DC250

I'm going to look at an 1986 Larson 25' DC250 with double cabin. The 5.7 350 engine isn't running, says it needs a flywheel (i know, engine removal ahead), Alpha 1 drive needs some tlc, interior is not bad, but the hatches on the deck are ply, thought they were sold with fiberglass hatches (engine hatch). Comes with GPS and some other gear, good trailer. There are some issues but I am interested in this stricktly for a project - the guy came down from 2K to $1500. I would redo the interior the way I want it as well as the deck area with some new seats and etc. but at 1500 is this still too much? Do these sell well after a restoration if I needed? Thanks for any insight or opinions.

Re: Am I paying too much? - Larson DC250

$1500 for a non-running boat (you HAVE to assume the motor is junk) seems high to me. But hey, it's whatever your market will bear.

What's it worth to you? What would it be worth to you, after you spend $3000 putting in a motor and $3000 re-doing the interior? Is it a $8000 boat in good running order?

Re: Am I paying too much? - Larson DC250

Thanks for the reply. I am questioning it because it seems high to me too but I'm just making sure I'm not overlooking some reason why it might be a good price. The guy just wants my money so I know he can tell me anything about the boat, says it's just a flywheel but in reality the motor could be garbage. I was a mechanic, so fixing an engine or diagnosing it isn't a big deal - kind of hard to do it on a boat but if I get there I can at least tell if it's trash or just a coupler. So, I'd do my own work to the boat, costs wouldn't be so high and it's kind of a hobby. In the end, I'd like to come out ahead in case I would need to get rid of it, and I guess you're making me realize that won't happen. I'm glad I asked, I think I'm going to pass on this one now...

Re: Am I paying too much? - Larson DC250

well, doing the work yourself certainly helps keep costs down. But unfortunately, engines are expensive. So is marine grade vinyl and the stuff needed to make seat bases.
I am not saying that it's a horrible deal. Just asking you if it would all be worth it when it's all done.
As far as the flywheel being the only bad part, I'll ask another question. Why would the flywheel be bad? They don't usually just fail. I know guys have had it happen, but it's more likely the starter is bad. Or worse, the starters is bad because the engine is hydrolocked and full of rust. But you can tell some of that from a good mechanical inspection.

Re: Am I paying too much? - Larson DC250

I get what you're saying, since my last boat I know about the costs of materials - anything marine is expensive LOL. There are things I would do new like bellows, starter, alternator, etc even if it doesn't appear the old is bad - just like the feeling of knowing it has been done. I did a nada value on the Larson in question and says it's only in the ballpark of 4600 average condition, so with my list of things wrong I doubt I'd spend less than that including the initial purchase price + gas to get it. Guess I'm just realizing it now!