Restoring a sunken yacht

[Damadami]

I came across a Ferretti 72 sitting on pillars at the dock and through some digging found that it ran aground and sank at its moorings back in 2013. It was floated the same day it sunk and towed to where its been sitting for the last 4+ years.
There is a chance that I may be able to get it for free (under removal of derelict vessel laws here) but, it is absolutely gutted. Can I get some opinions on whether or not this can be a fruitful long term project to salvage and restore it?

 

[Woodonglass]

The time, effort and money you will need to bring her back to life is just too much. If you're wanting a craft of this style then shop for used ones or salvaged that have a LOT more of the essentials. I think you'll find that the Power Systems and Interior work alone would be many thousands of $$$ Just my opinion. Restoring a boat like this is NOT like restoring a 20 ft lake boat!!!

 

[Scott Danforth]

Your looking at about 2x the cost of buying a running boat. I would expect the teak alone on the decks to be close to $60k.

If its been gutted, expect about $700k to $1M to get it mostly there and that is with you doing most of the labor. Expect a bit more if you have to hire a crew

BTW, a used 2012 Ferretti 72 is about $2.3M

 

[boedekerj]

I'm new, and inexperienced...so I'm curious; What does "gutted" mean? Interior? Drivetrain? Nav/Electronics? Yes to all? I guess I would be curious to know, what all you'd get "for free". What is "worst case scenario"? What is "best case scenario"? I really don't know, so I'm asking for an education.

 

[GA_Boater]

Gutted means "Yes to All" or very close. The OP is getting a free, empty hull, the most expensive of the "free" boats.

 

[mickyryan]

i could not even fathom taking on a project like this alone , rofl

 

[boedekerj]

Ah. So I guess unless you were seriously contemplating building a 72' Yacht from scratch, and this hull would save you a ton of work, a pretty big NO. I wonder, if you finished it, how much it would cost to maintain, insure, store, operate and license it? Is that a $50k/year boat? Do you sell the house to own the boat? All we have is the river, so size of boat around here is relatively small. You can really only go, North or South.

 

[Grub54891]

It would be good enough to stick in the ground, to the water line. Put a sump pump in and set it up for a rental bed and breakfast, or cabin. Interior and plumbing, electrical up to you. Or a really cool kids play house.