Opinions on a pontential "purchase"

[jaggededge]

Hello all... recently joined the forums here to do a little research.
Short intro: I am a commercial electrician by trade, restore old trucks as a hobby, have carpentry, metalwork, fiberglass, painting skills. Was a boat owner years ago (late 70's) but both outboards. Wish I still had them, one a late 50's Razorback, and one a mid 60's Texas Maid, both glass.
Fast forward: Guy I did some rust repair for on his 62 chev owes me some money. Has paid most of his "bill" but can't seem to come up with the last $400. He is offering to give me a 1982 Chaparral 187 bowrider w/470 Mercruiser I/O. I remember the interior is kinda ratty from sun damage. Don't know a thing about the hull, stringers, or transom as I have not gone to look at it yet. Says it will start and run, but has carb issues. Is on a pretty good aluminum trailer.
Since I never owned an I/O, and have searched the forums and found several posts advising "run like hell" from the 470 (but not elaborating on why) I figured I would just ask here.
Is this thing worth the 4 bills he owes me?? Keep in mind (at least I am , in mine) this may be all I ever get out of the remainder he owes me.
I realize I am new, underinformed, and not giving a whole lot of detail, but everyone has to start somewhere.
After spending hours in the past week reading restoration threads, ect. I am not naive about what this could get into.
Ain't skeered!!! Any tips you guys could give me to get me headed in the right direction would be greatly appreciated.

Mods if this is posted in the wrong forum section, please feel free to correct that, or notify me and I will. Thanks guys!!!!

Steve

 

[giericd]

Re: Opinions on a pontential "purchase"

I would never own an i/o but thats just me. ok honest opinion man i would not take it with the idea of using it. when you too the job for the juy you took it for pay not because you wanted his boat. i think if you were to try to get it for personal use not only would you be out the $400pay you would be out a lot lot more money that has to be put in to this thing. But dont run from the deal yet there is money to be made, more than he owes you.
a decent 18' trailler can get you $800-$1500 depending:if the enging starts it could be worth several thousand even if the boat is crap, (keep in mind a 1998 60hp merc outboard very used is still selling for $3000) get on e-bay and start looking at "no-BS" prices of what parts are going for. Ok, i did some of the work for ya here are some of the prices for parts on e-bay right now: FLYWHEEL $250,BLOCK $400, EXHAUST MAINFOLD $400, INTAKE MANIFOLD $225, LOWER GEAR CASE $299, VOLTAGE REGULATOR $85, CRANK STATOR CAM ASSEMBLY $770, STATOR $150, WATER PUMP $140, TRANSOM SHIELD $450, CAMSHAFT $150, HEAT EXCHANGER $350, COMPLETE OUTDRIVE $809..... and that was just 1/2 of the first page of parts so if you have the time and space you could make back way over the $400 the guy owes you. the hull.....donate it

 

[NEStriper]

Re: Opinions on a pontential "purchase"

Take the boat. If this guy is like any one of these "guys" I've ever met, that boat offer is the closest thing you'll ever see to the $400.

 

[boatnut74]

Re: Opinions on a pontential "purchase"

+1 on parting it out. The 470 is not a very good engine especially if you are new to IO's. The aluminum trailer is worth well over the $400 he owes you. You could sell the motor, drive and trailer and come out way ahead!

 

[rallyart]

Re: Opinions on a pontential "purchase"

I still own my 470 in a 1980 Grew 185. It has not been rebuilt and has over 3000 hours on it. It was abused when new (by me in my youth) and smokes a fair bit now. They can last.
However, my recommendation is that you buy a different engine. I can repower with a V8 for less than the repair costs to make mine nice again. As a long time owner of a 470 my vote is that it is an expensive engine that shakes the boat more than most others. I'm with the others on take the boat and part it out. It will cost to dispose of the hull but you can always list it and someone might buy it too.

 

[PaJon]

Re: Opinions on a pontential "purchase"

Does the guy have the titles for them? If so, I would take it and sell the trailer now to recoup the $400. Wait until spring to sell the motor. There will be a bigger demand then from people that didn't winterize and have cracked blocks.

 

[Philster]

Re: Opinions on a pontential "purchase"

A guy who can't come up with 400 bucks to finish a repair? I wish him better in life, and I mean that sincerely.

It also means that I'd wager up to some very large sum of money it's a rotten boat (literally meaning rotting, as in wood floors, stringers, etc). Heck, I'll say the transom, too. People without the means to care for something tend to have things not cared for and in disrepair.

Take it if you can part it out. Otherwise, you're nuts to keep it. It's got bad written all over it -- and not in a hipster doofus kind of way. Bad as in 'cost you lots of money, bro'.

.

 

[DuckHunterJon]

Re: Opinions on a pontential "purchase"

Yep, I'm with the rest of them. If it's all you can get, get it. You should be able to make your money back on parts, or turn around and flip it on craigslist. Better than nothing.

 

[southkogs]

Re: Opinions on a pontential "purchase"

I'll add the proverbial "but" in here ...

Take it (with a good title) with the idea that you're going to have to part it out to recover anything out of it. Then roll the dice a little ... if the hull isn't shot, and the thing will run (with minimal effort), then $400 is pretty cheap for a summer of goofin' around on the lake. You can evaluate as things go along how much effort and expense you wanna' put into the boat. If over the course of a few months (or maybe years) it starts getting to be more of a hassle than you're wanting to deal with ... part it out. No real loss, y'know?

 

[greenbush future]

Re: Opinions on a pontential "purchase"

I agree with what everyone is suggesting, take the boat, and figure out what you want to do at a later time. I have to admit, if you have a big block motor in a 19 foot Chaparral (which is a better than average built boat) that kind of makes the speed freak in me say, it must fly!!! and speed is fun, but that said, i'm sure you would be taking on a serious project to see what that "hot" boat can do. Is it worth it? only you know the answer, it may take thousands to see how it runs, and do it safely.

 

[Bondo]

Re: Opinions on a pontential "purchase"

Is this thing worth the 4 bills he owes me?? Keep in mind (at least I am , in mine) this may be all I ever get out of the remainder he owes me.

Ayuh,..... Welcome Aboard, 'n Ditto the above comments...

You can part it out, 'n turn that $400. owed into a Profit several times that amount...

 

[Home Cookin']

Re: Opinions on a pontential "purchase"

take the rig; don't bother fixing it. But I say that only because you are already in the repair business and better set up to remove and sell parts. it would not be worth it for a guy with a full-time job to do in the back yard/spare time.

 

[Maclin]

Re: Opinions on a pontential "purchase"

To Greenbush, that engine is only "half" of a big block. In simplest terms it is a 4 cylinder one-off block engine with a Ford 460 semi-hemi head. Not sure on the exact displacement, but less than 230CID I would bet. An over-achiever for sure (but with many bad side effects) but not a big block. Just sayin'...

 

[jaggededge]

Re: Opinions on a pontential "purchase"

Wow... thanks for the welcome and the advice!! Did not expect that much response overnight!

First... I have to agree with NEStriper... without beating a dead horse... I have no one to blame but myself for the debt this guy owes. Paid half up front, paid a good portion of the balance, but it was ME who let him have his truck back without payment in full. Friends and all (yeah right).
I am not afraid of "projects" and the wifey says I am a "Crusader" trying to save everything that was ever built from oblivion.
Philster you are right on with the sympathy for the guy. Keeps telling me " the kids...Christmas... the economy...ect." I kinda feel sorry for the guy.
Flip side is "if I had kids at home I would be putting my money into the boat with them in mind instead of a 62 truck."
Ok.. I'll let it go.
Back to the boat... it seems from what I have read the Chaps are pretty well built. I'm thinking... with the situation as it is..I'm gonna take a shot.
I have a 5000 sq ft heated shop I work in... have plenty space, tools, ect. My regular job is somewhat slower this time of year, not much, but I can see me doing this.
I have never been much for parting out things, unless they are a total loss. When I told the wife about the deal, all I got was "the look". Had to laugh... she held it in for a good while, the finally spilled it..."ok so now we are going to add "boats" to the collection of "projects" you have lined up??"
My answer..."ummm... yes dear".
I am going to take a look at it and if it is not a total pos I think the only choice I have (if I want to see anything else out of this deal) is to take it. I really want to think the "carb issue" may be nothing more than bad gas. Prolly wishful thinking but...
There are differing opinions on the Merc, so I have a lot more reading to do.
Guess I will take a look... maybe drag it home... and then I can post some pics or video and you guys can give me a little better opinion.
I am thinking if I part it out, I can at least get out what I have in it.
After all... the guy covered my expenses on HIS repair, but skimmed most of the profit off by not paying the remainder. I made wages on his project, but not Electricians wages.LOL
Thanks for all the replies, and hopefully you guys will get to see another project thread.
Steve