Restoration or buy late model used? That is the question for my wife and I

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bluestarcraft

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Jul 17, 2013
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I've just learned that I can replace the 120 I/O motor in our 1968 18' StarCraft Holiday with a new Mercruiser factory turn key engine for $5,900 before taxes, shipping and installation. When the restoration on this boat is finished we would have around $10,000 in it...new paint, replacing pitted chrome, reworking and painting the Holsclaw tilt trailer, etc., and have possibly the nicest boat of it's kind. The cost is always more than I expect so I realize I might be very low at guessing $10,000. The seats were reupholstered several years ago and are great but the rest of the boat needs most items replaced.

On the other hand, I think we might be able to find a very nice "newer used I/O boat" for between $15,000 to $20,000, which is modern, bigger, etc. But buying used is always risky too.

My questions are:
1 Is it foolish to put a lot of money into a 1968 45 year old boat, which was a non running gift, even if we kept it for 6 or 7 years ?
2 What are the 2 or 3 best built and highly regarded open bow I/O ski boats 20 to 24 feet in length? I know there are many makes of boats out there. I'd like to see what well built used boats sell for.

Sorry for being so windy, and thank you.
 
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agallant80

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Oct 25, 2010
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2,328
Re: Restoration or buy late model used? That is the question for my wife and I

If the boat is a passion of love then who caires about how much you have in it. People do that all of the time. Look at people and cars. I worked at a classic car dealer, people would put 20-30K in to a car that was only worth 15K. If you are doing it because you love it and know you are going to be in it for more than its worth then go for the restore. If it was me I would go for newer. For 15-20K you can get a lot of boat and you can get the exact boat that you want (ski, fishing, cruiser etc) rather than make due with what you have.
 
Knot Waiting

Knot Waiting

Senior Chief Petty Officer
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Jun 23, 2006
Messages
761
Re: Restoration or buy late model used? That is the question for my wife and I

Boats are never a profitable investment. However, if you want to approach it from a logical financial angle; it might pay to upgrade for that kind of cash. On the other hand if you really love your current boat then logic be damned. Do what makes you happiest.
 
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crabby captain john

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Aug 6, 2011
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Re: Restoration or buy late model used? That is the question for my wife and I

Every boat needs something at times. Newer most often needs less and you have things you wish was in the older boat.
 
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cannonman

Petty Officer 3rd Class
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Jun 20, 2010
Messages
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Re: Restoration or buy late model used? That is the question for my wife and I

I grew up with a 15' runabout with an outboard motor. I dreamed of the day I could get a 18' I/O of my own...When the time came I ended up with a 20' open bow I/O that we love. The amazing thing is that at most lakes I still have one of the smaller boats out there. I'm not saying bigger is necessarily better, but it does present some nice options. Speaking for myself, I would trade up.
 
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pckeen

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Joined
Jun 20, 2012
Messages
2,067
Re: Restoration or buy late model used? That is the question for my wife and I

It depends - we had a great hull, and good flooring and seating (aging, but still solid), but bad motor and steering. We replaced everything on the boat (which we bought for $1000), and now have $11,000 in it. A comparable size and horsepower boat new would be $25-$30k, which was beyond what we could afford. This was good for us - but you are really faced with a personal choice.
 
roscoe

roscoe

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NYBo

NYBo

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Joined
Oct 23, 2008
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Re: Restoration or buy late model used? That is the question for my wife and I

Even if you love the boat, that's an insane amount of money, IMO. You could undoubtedly do better with used or rebuilt and still end up with a very reliable boat.
 
Jonnybbad

Jonnybbad

Petty Officer 1st Class
Joined
Jun 10, 2011
Messages
210
Re: Restoration or buy late model used? That is the question for my wife and I

I've got about $3500 into each of my boats (in my signature). They are not going to win any show and shine awards or anything, but they are dependable and make me happy and that's all I'm looking for. I could personally never see spending that much cash on your project, but we're different people, with different lives. As previously stated, boats are not a good investment, but I don't stand to loose much when I sell. Even if they end up in the scrap heap I'm not gonna get too upset.

If you're gonna do this, myself, I would certainly get a used motor. $6K for a 3.0L mercruiser seems out of this world all together to me. Those are a dime a dozen used. I would go out and get a used one for about 10-15 percent of that cost. But... that's what makes us different.
 
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