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Is it possible to rebuild boats and come out ahead?
wrote:
I think that another thing he's really not looking at is that the OE
MFJ's get all their stuff at contract "bargian basement" pricing.
Weeelll...that still doesn't necessarily make it unprofitable. My last
boat was a project boat (1980 Trojan F32 flybridge sedan)...sound, but
in non-running and uninhabitable condition. I didn't gut it to the hull,
but I did replace everything on it, completely rewired it and replumbed
it, and added/upgraded a BUNCH of things...by the time I was done, the
only things I hadn't replaced were two C-318 long blocks, the Onan 6.5kw
longblock and the Raritan waterheater. I'd budgeted replacing those, but
didn't have to. I bought almost everything at retail discount--(only
the sanitation equipment at OEM price)...and paid "retail" labor rates
for almost all the work. And still came out ahead. I paid $25k for the
boat...put about $18k into her ($3500 went into a new bottom and having
everything above the waterline wetsanded and teflon coated)...sold her
for $48k. Had I been able to get her at a price that some of the
hurricane salvage boats are going for, I'd prob'ly have only had to put
$2-3k more into hull repair, which would have made it very profitable,
especially for someone who can do a lot more of the work than I was able
to do. And there will be a lot of people who will buy and restore those
boats very profitably.
The key is: find out what a particular make/model year is going for in
your neck of the woods (NADA and BUC are good starting places, but local
factors can make a big difference)...cost out EVERYTHING, worse case
scenario...put some value on your labor...then do the math to find out
whether you can do it profitably or not.
Oh...one more thing: everything has to be done to ABYC, USCG, NFPA, UL
and any other standards, or a buyer won't be able to finance it or
insure it (they'll all require a survey for a restored salvage, or even
just an older boat). So there is a major learning curve to climb.
As for a "shed" to work in...a friend in RI who's rebuilding a 38'
sailboat (he gutted it) bought and erected a huge "industrial tent"
structure on his property...ran power to it, built scaffolding, etc...I
don't know what that kind of thing costs, but it's gotta be a LOT less
than renting space.
--
Peggie
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Peggie Hall
Specializing in marine sanitation since 1987
Author "Get Rid of Boat Odors - A Guide To Marine Sanitation Systems and
Other Sources of Aggravation and Odor"
http://www.seaworthy.com/store/custo...0&cat=6&page=1
http://shop.sailboatowners.com/detai...=400&group=327
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