Jaz,

I believe Gould is so very right on this: "Get a qualified and
ruthless surveyor to go over this thing inch by inch."

Hopefully, with the information that surveyor provides will not only
let you know what you are in for, but will hopefully guide you as to
what you can expect in return upon resale.

When you say it sunk a year ago, did it sit underwater that long or
has it been available for that long. Hopefully the latter!

You didn't say where in the Northeast you were, but if anywhere
near Mass., you night want to to check out rt. 20 in Shrewsbury. When
I left there several years ago, there were a couple of yards that dealt
primarily in repos and while they couldn't necessarily state a firm
price, they would entertain offers to the banks that repo'd them.


-Jim L.

Jaz wrote:
I'm considering restoring a salvaged boat for profit, so I'm looking
for advice on valuing it now and after restoration. It's a 1998 sport
fish and like boats (same make, model and year) are advertised at
$80-150K.

It sank in salt water 1 year ago due to a bad shaft seal, and the
engine was pulled, serviced and run (or so that's been claimed). My
first look at the boat was not under the pretense that it was a
salvage, so I only learned later that it had sunk, meaning that it was
not appearent on my first inspection and the overall condition is very
good. The Peninsular/GM V8 diesel is out and visually looks fine. I
plan to visit the boat again and inspect all wiring, controls,
hardware, etc. to determine what can be serviced and what needs
replacing (I'll try to dismantle what I can ge taway with, and I
expect to be able to get quotes for needed major parts from the
dealer.) The cabin seemed not to have flooded but I'll inspect all
equipment in there as well.

Not having access to BUC, I'll have to rely on a broker to estimate
what similar boats have sold for (vs. looking up for-sale listings
which are merely asking prices), and what effect a 'salvage' stigma
may have on it's post-restore value.

So again, what specific damage should I look for in a salt-water sunk
boat? Are there any other magor considerations I should factor in? I'm
ultimately looking to resell it.

Thanks, Jaz