Restoration Costs for Wet Boat

[rdc54yty]

Hello all,<br /><br />I'm attempting to estimate restoration costs for a neglected 1998 38' Fountain. The boat has been on trailer at least 1 year and took on 12" of rain. Water has been drained. The cabin is wet. At a glance, carpet is ruined. Cushions, headliners, etc. all show signs of mildew. I suspect removal of interior will uncover new problems. <br /><br />Has anyone had similar situation? Professional estimates are all over the map. Range is from several $K for cleaning/ detailing to full interior replace ($$$!) Thanks in advance for any help.

 

[EZLoader]

Re: Restoration Costs for Wet Boat

I'd call the Fountain factory and ask for their advice on this. They should have the best handle on the potential damage costs since it is their boat and they know what the original interior construction costs were and how it was all installed. Send them detailed damage photos to look at so they have a full picture of the problems.<br /><br />The water and mold damage will most likely require a full tear out and replacement. Fountain may even be able to do the work, or at least recommend someone who could, including some of their employees who might want some extra work during off hours. They should also be able to provide you with some consultation and new factory replacement materials. <br /><br />The reason you have bids all over the board is that until the repair work is actually underway it is impossible to really know the full extent of the damage. You even said that you suspect the removal of the interior will uncover new problems. How do you safely bid the unknown?<br /><br />Are you insured for this? If you are and intend to make a claim get them involved now to find out what they are willing to pay for and how they will want you to mitigate the existing damage.<br /><br />Your goal should be that any money you spend on the damage restoration will help bring the value of your boat back up (nearly dollar for dollar) by modernizing it and removing past depreciation. <br /><br />It's critical to dry the boat out as soon as possible so don't delay on this. Pull all the wet cushions and other loose materials out right away. Rent a dehumidifier and put it onboard to dry the interior. Once mold starts to grow it will spread quickly and could be a big problem for you all over again after the repairs are done. Mold loves dampness and most boats are somewhat damp at times.<br /> <br />Hope this helps you! Give me a follow up when you have it all figured out.

 

[rdc54yty]

Re: Restoration Costs for Wet Boat

Thanks EZLoader. Great info. You validate a big concern I have about this boat. That being how agressive the interior restoration should be to assure the mold doesn't return and ruin new work. <br /><br />I don't own the boat so insurance is not an option. It's a repo that's been "on the lot" for a while, piqued my interest, so I'm trying to come up with a bid. <br /><br />It may also have engine (turbo-diesels) problems due to lack of winterization. The drives need service, the props and some electrical components gone, wires cut, really juvenile stuff. <br /><br />Superficially it's a beautiful boat and, at first, appears to be a sweat equity project except for the engines. But scratch the surface just a little and I say "Hmmmmm". It surveyed at NADA low average value and the bank reduced minimum bid $20K to account for the engine repairs. I just don't think they are being real about the cost of the other repairs. I'm beginning to believe that those repairs, done professionally, will easily exceed the cost to restore the engines.

 

[Richard Petersen]

Re: Restoration Costs for Wet Boat

Assume the hull is --------- Get a good Marine Surveyor to do a inspection of it . He could tell you to drop it.

 

[Solittle]

Re: Restoration Costs for Wet Boat

Keith - I double second cyclops2's recommendation. For a rig like that I would get two surveys - one for the hull/interior and one for the engines. Get your own surveyors and not ones provided or recommended by the seller. You could be into some very serious money real quick. The interior would be far less important to me than the drivetrain.<br /><br />Also I would not pay much attention to the NADA value. Go by market value.

 

[rdc54yty]

Re: Restoration Costs for Wet Boat

The broker's survey had the hull OK but I appreciate the need for getting my own surveyor. Kind of like home inspectors. Oh, wait. That might not be a good analogy...<br /><br />Anyway, I talked to a Yanmar tech at the Annapolis boat show yesterday. He was actually encouraging that the engines are salvagable and gave me some tips on things to check before coughing up $1000 for an engine survey. <br /><br />Surprisingly, he did say his shop doesn't rebuild. They reengine and return cores to Yanmar for rebuild. Said tolerances are too tight for a lot of shops. I've heard this from another (aviation) diesel maker - Thielart. It seems hi-perf turbo diesels aren't you average chug-chug.<br /><br />Boat show price for a 6LP - $19K a side minus core. One thing I noticed, The Yanmars look a lot more complex than Cats and other diesels. I wonder if there's a cost or reliability gain to be had by switching. <br /><br />As for fair market value, this boat is roughly in line with NADA in this area. EXCEPT, I know the diesel package was anexpensive option and NADA doesn't list it. I guess I have to contact Fountain to get a clue.

 

[rdc54yty]

Re: Restoration Costs for Wet Boat

BUC's has it at $103-113K before adjusting for the condition of the boat.