1976 Tom Boy Boat, 1976 40 HP Johnson Outboard and who knows what Trailer

gm280

Supreme Mariner
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Jun 26, 2011
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14,137
Thank you very much, and we both (wifey and I) wish you and yours a very very merry Christmas as well. Glad to hear from you...
 

gm280

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Jun 26, 2011
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14,137
I actually did a little work on the transom today. Well the transom end caps and transom cover. I polyester-ed and bolted the transom end caps in place using polyester resin with cabosil mixed in until it was a paste consistency. I smeared tons of it on the area(s) and then applied more on the stainless steel bolts and installed everything, and bolting the bolts tight with ss washers and ss lock nuts. I pity the fool (Mr. T phrase) that ever has to take them off again.

I also primed and painted the first coat on the transom cap. Since I have plans to install it in a few days (after finishing the painting) I have only the live well cushion to tackle...as usual. Yes, yes I have been pushing that project to the absolute very end because I think that is going to be my Achilles heel... The transom cap fought me there for a long time. But I figured out how to get it done in the end.

I have to say, I was really surprised to see that the gallon can of polyester resin from US Composites sitting in the chemical cabinet was still good, as was two bottles of MEKP. And I know there all were sitting in the chemical cabinet for well over a year, maybe two years. I first tried a small batch to make sure it would setup, but once I seen that small batch setup, the rest was no worries... And I still have at least 1/2 to 3/4 of a 5 gallon bucket of cabosil. Of course it weights virtually nothing, but it is a lot left over.
Pictures later...
 

gm280

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Jun 26, 2011
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Well as luck would have it, I did finish painting and clear coating the transom cap and even polyester-ed the corners in place. Those corners are NOT coming off again without some very serious effort. All I needed to do was 3M 5200 the transom cap on. And guess what, the weather has turned cold. And I am not sure 40's is good temps to be gluing anything presently. So that is the latest update on teh boat project.

However, I decided to again work on my dad's house to get the wiring up to par so at least I can put it on the market...eventually. And as I expected, every faulty issue involved broken switches and wires hanging free. And that is because they used extremely cheap switches and pushed the wires in the back of those switches. And over time, the wires boke out the side of the switches and were disconnected. I know for sure that I already changed at least 7 switches and 2 receptacles already and I think I have at least one more receptacle to change. But I got everything up and working finally. New switches, receptacles and even a lot of new bulbs and it looks like I got the wiring near finished now. Woo Hoo. I literally started in one room and removed every switch and receptacle and wired the wires to the side terminals and tightened them up like they should have been from the start. Amazing how many push in wires were hanging free inside the boxes. But without a schematic or a source to guide me as to where the power was coming from and going to, I didn't have any other ideas to find the broken connections. Yeah A lot of work, but glad I got everything up and running now...
Now I can start working the plumbing...
 

gm280

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Jun 26, 2011
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14,137
Okay folks I need your opinion for this one. I just received a form in the mail asking me to tell them what fair market value is for my boat. They only want the boat and engine in that estimated cost. The trailer is taxed separately that I pay every year.

I bought the boat, engine and trailer for ~$600 dollars. So I am assuming there is no "book value" anymore on such an old (1976) setup. So how would you go to give them a value? I know that whatever I suggest, they are going to tax me on it. So what would you do...

I guess I could say $600 dollars and let it go that way. How would they evaluate it any other way? Any suggestions?
 

kcassells

Admiral
Joined
Oct 16, 2012
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7,415
Okay folks I need your opinion for this one. I just received a form in the mail asking me to tell them what fair market value is for my boat. They only want the boat and engine in that estimated cost. The trailer is taxed separately that I pay every year.

I bought the boat, engine and trailer for ~$600 dollars. So I am assuming there is no "book value" anymore on such an old (1976) setup. So how would you go to give them a value? I know that whatever I suggest, they are going to tax me on it. So what would you do...

I guess I could say $600 dollars and let it go that way. How would they evaluate it any other way? Any suggestions?
ANTIQUE, Like mine, no value. The question is if you want to insure the boat then you have to place a $$ value on it. Then they will want to tax you on that.
Who is the letter from anyway?
 

archbuilder

Vice Admiral
Joined
Sep 12, 2009
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5,663
Our State just values them based on a depreciated cost, using the original sales cost. Retail, which means both Miss Morgan and Fuggly are almost worthless according to the state of OK. The only way I have found to get a reasonable amount of insurance is to have a marine surveyor assess their value, then get a specialty policy for property damage on them. Otherwise the insurance company always seems to want to insure them for NADA or some other industry standard that more or less says they are worthless also.
 

gm280

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Joined
Jun 26, 2011
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14,137
Since I initially purchased this entire boat engine and trailer for about $600 dollars, and it is yet to touch water since purchasing in 2012, That is my value I am sending in for it. I mean it is a 1976 boat and engine, and realistic value is not an imaginary number. It was/is merely a hobby project at this time. Is it worth more then that? Maybe, but only to a person that will give me more then that. And I have no idea what it seriously is worth. So $600 is it!
 

todhunter

Petty Officer 2nd Class
Joined
Sep 15, 2020
Messages
168
I think $600 is probably fair. In my state they base it on the bill of sale, and if it's less than what they expect, you have to fill out an affidavit for low selling price, and both buyer and seller have to sign. We valued my 1987 boat at $540 and they didn't bat an eye.
 

kcassells

Admiral
Joined
Oct 16, 2012
Messages
7,415
Since I initially purchased this entire boat engine and trailer for about $600 dollars, and it is yet to touch water since purchasing in 2012, That is my value I am sending in for it. I mean it is a 1976 boat and engine, and realistic value is not an imaginary number. It was/is merely a hobby project at this time. Is it worth more then that? Maybe, but only to a person that will give me more then that. And I have no idea what it seriously is worth. So $600 is it!
$600.00 in 2012, depreciate the value for the years. They don't care. Tods boat is current purchase. Investments/costs to the boat are actually a loss in boat world time. :}
In reality the taxes or whatever on $600.00 is zippo in any event and either way is good if you lose no sleep.
 

gm280

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Jun 26, 2011
Messages
14,137
Today was one of the nicest days we've had in a long time. And since the temps reached nearly 60 degrees (actually 59) I decided to put the transom cap on with the 3m 5200. That's were the problem started. I cut the tip and punctured the seal and removed the pull tab at the back and inserted it into the caulking gun. After squeezing with everything I had, nothing came out the front tip. So I punctured the tip multiple times and still nothing. So wanting to get this on today, I cut a slit in the side of the casing. That allowed me to get the glue out. So I coated the transom top with it fairly thick and put the transom cap in place and then clamped it down. I hope it works out and I am going to let it sit that way for about a week. But it is now in-place and that leaves the sewing part and of course installing the engine and connecting all the cables and such. So one step closer now!
 
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