1987 23' Wellcraft Nova Project - Worth it?

[acex008]

Heres the ad...

http://nh.craigslist.org/boa/1133005110.html

Owner stated in an email: "The motor that was in it was junk so i got a used short block sitting on a stand that needs to be dressed. As for the interior its ok down below, bolsters are good, but the big seat that covers the motor is rough. It has a teak swim platform and the hull is good."

I'm not sure of the year yet, I'm guessing '87 since his email has "boat87" in it... Comes on the trailer in the pictures. He'll probably take $1,800 for it. I'll probably need about $500-600 in parts and materials to get it sea-worthy. Assuming its an '87, its NADA value (w/o trailer) is $4,900... I know the topic of a profit from a boat rebuild is controversial here on iboats but do you guys think it's worth it?

 

[erikgreen]

Re: 198? 23' Wellcraft Nova Project - Worth it?

Re: 198? 23' Wellcraft Nova Project - Worth it?

Well, unless you've inspected it yourself, I'd toss your time and dollar estimates out the window.

It sounds from the ad that the owner isn't terribly well educated as to boat maintenance and components.

Things to check out:

*Condition of hull structure - stringers, deck, transom. If there are any soft spots in the deck or transom (check with an ice pick)then the boat may need a major rework

*Engine condition - what exactly does he have on a stand? Is it a marine engine? Are there marine parts for it, or is he putting together a junkyard block with car parts? Are all the parts there? Did he take the engine out without removing the drive?

*Title - does he have it, and can you get it?

*Outdrive... what does "not bad" mean? Is the whole thing there, or is part/all of the skeg missing? Check the oil inside the outdrive for milky look or a burned look, either one will tell you the drive is in need of serious maintenance. Check the engine coupler for wear too, and the input shaft for the drive. What kind of drive is it?

Assuming that the hull and structure are in good shape (not rotted) the engine is marine and has marine bolt-ons, the outdrive is functional and non leaky, and the controls are there and good, it may be worth the $1800. That's if it's just the interior that needs work plus assembly of the engine... maybe.

The trailer is probably worth about $1500 in new condition.. it doesn't look new to me. Check the tires, ideally check the hubs and axles for wear, see if the lights work, and most importantly check the brakes, you'll need 'em.

Assuming it's just the interior that needs work plus the engine assembly, I'd say you're looking at about $200-$300 plus labor for the engine and anywhere from $200-$2000 for the interior depending on how fancy you get.

If the structure is rotted, expect to replace it at a cost of $1000-$1200 if you do the work yourself. Outdrive replacement is $1300 for an aftermarket drive, more for the gimbal if it needs it. Big block marine conversion if needed would be $1000 assuming no major rebuild. Trailer axles and hubs would be about $200 per axle if needed, brakes another $120-$200 per axle plus controller or surge cylinder. You will need brakes unless you have a super HD truck to tow this with, and even then it won't be completely safe.

This could be the one "honey of a deal" boat that just needs a bit of work to finish, but more likely there are some things wrong that the seller doesn't know about or want to know about, and he's putting a price on the boat based on his emotional attachment to his project.

There are other wellcraft for sale out there right now, so look around if you need to.

Erik

 

[capri1600]

Re: 198? 23' Wellcraft Nova Project - Worth it?

Re: 198? 23' Wellcraft Nova Project - Worth it?

Without personally inspecting the boat in question, you are kidding yourself. Go look it over yourself. Look for obvious damage to the hull then carefully look and feel for rot in the deck, in corners and check the transom as carefully as possible. If there are any signs of work needed in these areas, it's a restoration and not a repair. That doesnt mean it's not a good project, just not one you will likely turn your labor into profit from.

 

[acex008]

Re: 198? 23' Wellcraft Nova Project - Worth it?

Re: 198? 23' Wellcraft Nova Project - Worth it?

I just got off the phone with the guy that has it. He's definately not the sharpest tool in the shed. Anyhow, I'll be able to look at the boat this Saturday.
He bought the boat as a project since the engine was blown. I'll be sure to check the condition of the deck and transom (one of my main concerns with this boat). Apparently he has a Merc 454 and all the Merc parts from a friend that's a Merc service tech... (Not sure if I believe him, but we'll see) He also said his friend can get me any part I would need for a Merc. Not sure if that means it's not complete but I'm making a checklist to bring with me to make sure it's all there. The drive is currently off the boat and in his "shop". It's an Alpha1. When I asked if he could read me the serial # off the drive, he said, "Well it's been painted so I don't know if I can read it... *long pause*." So I moved the conversation along. I think it was originally a big block boat, so no need for conversion. No title but I only need a bill of sale to register it in Maine. I will thoroughly inspect the outdrive as it is my main concern about this boat, along with the hull assembly. Going to try and pressure test it. He said the rear seat/engine cover is there but is rough. I guess I'll have to see his definition of rough, but if that's all I really need to fix on the interior, great! He paid $1,500 for the trailer since he got the boat without one. He said its road worthy. I was expecting about $200-400 for the motor and revinyl the bench for about $200 in materials. If I do buy it, I'll put in a new gimbal bearing just for piece of mind. Got a 2008 Tundra to haul it with. It should pull fine since we've been using it to haul my cousin's Chaparral 290 cruiser no prob.
I'm positive there are things the owner has no clue about, but I want to come up with a checklist to cover my bases to see if it's worth the buy.

Thanks for the great feedback Eric.

 

[S. Toth]

Re: 198? 23' Wellcraft Nova Project - Worth it?

Re: 198? 23' Wellcraft Nova Project - Worth it?

has he stated how he has kept the boat since he had it, covered outside, uncovered? Anyway from the pics on the site listed it looks like a good project good luck, and be sure to keep updated.

 

[arks]

Re: 1987 23' Wellcraft Nova Project - Worth it?

Eric-
I owned a 1985 23 Nova XL for 18 years.
The model year is easy to identify- look at the HID # on the right side of the transom just under the rubrail. It will start like this "WELP_ _...... The 2 numbers after the "P" will tell the year. The 1987 and 88 Novas usually had fiberglass swim platforms. I think you'll find that this one's an earlier model. They are good handling boats for their size and can handle some rough water.

All the Novas of that era were manufactured with wood encapsulated by fiberglass. Boats that weren't kept dry inside the bilge are VERY prone to rotten stringers and transoms. Repair is difficult and can be extremely costly.

As far as I know, all the single-engined 1980's 23 Novas came from the factory with Mercruiser 260 smallblocks. The Alpha drive is rated for 300 HP, so putting in a stock 454 (330 HP) will stress the outdrive unless it's operated gently. Many early Novas like this one have been upgraded to 454/Bravo and run nicely.

This could be a nice deal - IF - the stringers and transom are solid. I suggest you take the effort to make sure before buying.
This is a textbook example of the need for a pre-purchase survey. The $400 spent will clarify the boats' true value and remove your "buyers excitement". Just be careful, and KNOW what you're really buying.
Good luck.

 

[ezmobee]

Re: 1987 23' Wellcraft Nova Project - Worth it?

I think this is a worthwhile project, no question. However, I really question whether this thing is worth $2000. In my opinion, to be worth that, it would have to have rock solid floors and transom and an operable drive. If you have to buy a new motor & drive that's big $$$$.

 

[acex008]

Re: 1987 23' Wellcraft Nova Project - Worth it?

Thanks for all the great feedback. I have decided to back out of the deal on this boat. Although it may in fact be a good project I'd rather not have to deal with something unknown, especially since the owner doesn't sound all that formiliar with what he has. Not to mention that he's only owned it while it hasn't been run. My luck, I'd get the motor nice and running and put the drive on to find I need to replace the drive... I can handle engine mishaps but outdrives are a weak spot for me not to mention costly. I'm looking elsewhere. That's for the great info, I love this forum!

 

[yoyins69]

Re: 1987 23' Wellcraft Nova Project - Worth it?

yes its worth it I got one and I loved my boat is need work but its water worthy so go ahead and do it