I belive it did only sink in the ass end, but today I'll verify by
looking for a waterline. I also belive it sank only breifly (a $100K
boat probably doesn't stay swamped for very long).

Sure, I'd like to make $50K on this, but I'm trying to estimate a
worse case -- something like $20K would be an 'oh well', . I've owned
other large diesel-powered boats (and worked in large aerospace
facilities), so it's not the task itself that's daunting, it's the
idea that after I invest $50K that I might not even get that back.
Clams' idea that I'll have to disclose that it sank makes me feel that
this would not be a good project for profit, but perhaps only to get
myself into a nice boat, provided I'm willing to live with the
sank-stigma.

BTW, it's a '98 Albin TE 28 (30') -- now, don't any of you go making a
bid in this baby ;^)


On Tue, 09 Sep 2003 10:29:34 GMT, "Clams Canino"
wrote:

If it only sunk in the ass (stern) you might be in a good position. If not,
prepare to rewire it end to end. I'd take something like this on - NOW -
only after experience rigging and re-rigging several hulls. Sounds a little
scary for a newcomer though.........

-W (In NH)


"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
$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

On Tue, 09 Sep 2003 13:02:26 GMT, Jaz wrote:

I'll have to disclose that it sank makes me feel that
this would not be a good project for profit,

I definitely agree with that unless you have unlimited time and
resources.


BTW, it's a '98 Albin TE 28 (30') -- now, don't any of you go making a
bid in this baby ;^)

Any idea why it sank ?

On Tue, 09 Sep 2003 21:30:23 -0400, Wayne.B
wrote:

On Tue, 09 Sep 2003 13:02:26 GMT, Jaz wrote:

I'll have to disclose that it sank makes me feel that
this would not be a good project for profit,

I definitely agree with that unless you have unlimited time and
resources.


BTW, it's a '98 Albin TE 28 (30') -- now, don't any of you go making a
bid in this baby ;^)

Any idea why it sank ?

The story is that it sank due to a bad shaft seal. Today I inspected
it closely and found a slight water line that shows it sank in the
front up tot the pulpit, and the line goes back at a 45 degree angle.
It must have listed forward as water came in, and I imagine that the
water flowed back over the engine as it was towed/righted. There's
corrosion damage to all wiring and steel in the engine area, but
equipemnt higher up seems to not have seen water, which includes all
controls, panels, and electronics. It will need $5-10K in cleaning and
replacements (not including the engine). Bidding has reached $30K
which now exceeds my comfort zone. According to the salvage company
the high bidder has bought many boats from them and considers this
vessel a no-brainer (easy or him to say). I feel that with a new $20K
Cat diesel it might bring $80-90K, and the old GM might sell for
$5-10K. That puts me at a possble $25-30K profit minus epenses. Hmmm.
If nothing else, this has been an interesting excercise.

Thanks all. Jaz

If nothing else, this has been an interesting excercise.

Thanks all. Jaz

I had never heard of Albin but your post got me looking at them. Their boats
look good and I like the niche they're filling.

They seem to have married a seakeeping hull with a shallow draft, and the
space of a fishing boat with a cruising focus without getting too "cocktail
cruiserish". The 45 seems like a semi-displacement hull -- or semi-planing
depending on whether you're coming from trawlers or cruisers.

In one of the reviews (if I remember correctly) the reviewer had it out in
blue water with good results.

I've put them on my list of boats to consider if I ever get off my ass and
make some money. Anyone have any experience with these things while I'm busy
spending dream money?