View Single Post
  #10   Report Post  
Posts: n/a
Default restore salvaged performance sport fish?

They're in Mendon, MA. (trying to not name names) Is that who you
mean? If yes, then I see what you mean. When I inquired about specific
details of their bid process I practically got chased out. This has
indeed been a learning experience.
Thanks, Jaz

On Thu, 11 Sep 2003 15:38:44 GMT, "Steve P."
If the company that is listing this boat is the same company that I am
thinking of then be aware that while they may lead you to believe that the
boat is being sold at "auction" this is not really the case. Their "bid"
process is more of a sales tactic or marketing gimmick. Read there terms
carefully, they're in the FAQ on their web site, and you will see what I
mean. While there is nothing dishonest going on I think that if they were a
little more up front about their "bid" process then fewer people like
yourself would waste their time investigating vessels in the hope of finding
a bargain. While you can find damaged and basket case boat there I get the
feeling that everything that goes through that place sells at or above fair
market value.

Good Luck,

Steve P.

"Jaz" wrote in message
.. .

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

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