speedboat restoration

W

wojciecj

Cadet
Joined
Apr 14, 2013
Messages
22
Has anyone purchased a fiberglass speedboat for under a $1,000 and fixed it up for a profit? How did it go?
 
Woodonglass

Woodonglass

Supreme Mariner
Joined
Dec 29, 2009
Messages
25,924
Re: speedboat restoration

Welcome to iBoats!

Uhhmmm, just my opinion/experience, but unless it's something that's rare and highly desirable, it's usually not a profitable enterprise when you consider your time and materials. A $1000 boat will usually require approx $1,500 to $3,000 IF the motor is in Good running condition and if not, you can double that in materials costs. Then you have to figure your time and your profit. New Boats Costs are a LOT but people just don't want to pay much for a Restored OLD Boat even if you can Prove it's in Perfect condition. That's just my opinion, some others may come along and agree or disagree. What boat is it? Got any pics?
 
ondarvr

ondarvr

Supreme Mariner
Joined
Apr 6, 2005
Messages
11,527
Re: speedboat restoration

I'm sure it has happened, but I'm not aware of any.
 
ezmobee

ezmobee

Supreme Mariner
Joined
Mar 26, 2007
Messages
23,767
Re: speedboat restoration

WoG is dead on correct. Rebuilding/Restoring a fiberglass boat is something you do for yourself because you really like the boat and want to be able to rebuild it better than the factory did originally. You can't really make much, if any, money on it. Even with aluminum boats, to flip one for profit you'd need to acquire it really really cheap, and really skimp in your wood sealing methods, floor coverings, and seating.
 
jasoutside

jasoutside

Supreme Mariner
Joined
Dec 20, 2009
Messages
13,269
Re: speedboat restoration

Yup, exactly what these guys said ^^^^^.

Rebuild for profit? No way.

Rebuild for fun, enjoy the boat for a few years and maaaaayyyyyybe break even? Not likely but possible.
 
zool

zool

Captain
Joined
Aug 19, 2012
Messages
3,432
Re: speedboat restoration

If you part it out, you can maybe.....check the going prices for engine and drive parts on ebay, then factor in stripping and cutting up the hull for disposal. A good drivetrain could get in the green....
 
greenbush future

greenbush future

Lieutenant Commander
Joined
Aug 28, 2009
Messages
1,814
Re: speedboat restoration

I rebuilt one I paid $160.00 for, and if you don't count the 1000 hours of labor, then the $2300.00 I got for it, might be viewed as profit. I did it to learn, not earn.
 
73Chrysler105

73Chrysler105

Chief Petty Officer
Joined
Sep 10, 2009
Messages
407
Re: speedboat restoration

If you consider the profit you labor costs then sure profit it is and can be made. It takes careful planning and the right buyer though and how desirable the boat is.
 
W

wojciecj

Cadet
Joined
Apr 14, 2013
Messages
22
Re: speedboat restoration

Thanks guys for all the great info. I plan on doing it for the experience, but I was just curious if I could make a profit too. :)
 
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