Value of 04 boat with mechanical problems

[fishrdan]

I'm looking for another boat and came across an 2004 19' bowrider that has been seriously neglected, Mercruiser A1 outdrive is shot (lots of metal in oil), 4.3 engine has a cracked block and locked up. The hull and interior is in perfect condition, gelcoat shiny, perfect seats and carpet, floor solid, transom solid, no fiberglass problems that I can see, no water damage, etc.. I plan on fixing everything myself (SEI drive, rebuild engine) and think it will take about $3-4K for parts,,, or $7-8K to have a shop fix everything.

I don't want to low ball the seller and walk from a potentially good project boat, but also don't want to give them more than the boat is worth. The boat NADA books out at 10K+, so I figure it's worth about $1500-2500 in light of the mechanical problems and poor boat market, does this sound right?

(I'd post a few pics of the boat, but don't want someone stealing my find )

 

[tashasdaddy]

Re: Value of 04 boat with mechanical problems

what brand???

 

[fishrdan]

Re: Value of 04 boat with mechanical problems

I don't want to give too many specifics, but let's say it's one of the better quality manufacturer's,,, SeaSwirl, Wellcraft,,, not a value price point built boat, Bayliner or Tahoe...

(Sorry for being vague, but I want to keep this under wraps until I buy the boat)

 

[Bondo]

Re: Value of 04 boat with mechanical problems

The boat NADA books out at 10K+, so I figure it's worth about $1500-2500 in light of the mechanical problems and poor boat market, does this sound right?

Ayuh,.....

But Only if it's sitting on a $1,000. Trailer....

 

[ezmobee]

Re: Value of 04 boat with mechanical problems

Take what you think it would be worth in it's current condition with a new motor and drive...and at best, subtract the DIY price to replace those things. If you want to play hard ball, subtract the mechanic price to replace.

 

[fishrdan]

Re: Value of 04 boat with mechanical problems

If you want to play hard ball, subtract the mechanic price to replace.

That's along the lines I'm thinking.

Actually I'm thinking, subtract 10-20% off NADA because of the bad boat market (actually what this boat in good condition would sell for) and then subtract what I think it would cost at a marine shop to repair the damage...

Heck, they might have to pay me to haul it off

 

[ezmobee]

Re: Value of 04 boat with mechanical problems

Someone is another thread was looking at a boat with a newly replaced motor. He found it unusual that an owner would go to the expense to replace the motor just to sell it......I guess we can see why! It seems just about any boat is darn near worthless with a dead motor.

 

[MikDee]

Re: Value of 04 boat with mechanical problems

Well, if the hull, & interior is in good shape, it's worth a shot, as long as you know what you're getting into. It sounds like he's looking for Best Offer? You'll just have to feel him out on the price, and let your conscience be your guide.

 

[fishrdan]

Re: Value of 04 boat with mechanical problems

Thanks for the replies.

I guess it's going to depend on how nice the interior and exterior of the boat are as I have only seen pics so far, I already know mechanically it's a basket case. The guy blew the outdrive and then let it sit over winter without winterizing the boat, cracked block and locked up engine...

Not sure if he's wanting to just get out of it or looking to make a bunch of money on a boat that's going to require a lot of work, find out in a few days...

 

[tashasdaddy]

Re: Value of 04 boat with mechanical problems

he's probably wanting to pay off the balance of the loan.