Re: Buy and Resale Boats
I've done it on a two specific boats I thought were a great deal with "easy" upgrades to sell quickly. I made $$$ on both but wasn't sure at any point if I would - until they sold. Here are my tips from limited experience.
1. I disagree on the advice to buy cheap boats - if you make 50% on the deal why not make it out of a bigger $$$ value? No, not $50k boats, but how 'bout $8-10k boats that could sell for $16k+ in better condition? Not much more work than a $3k boat, but much more profit if you find a buyer. More risk as well, no doubt.
2. Like home buying, "first impressions" are critical. The two I did were both "average" first impressions at best, but very solid boats mechanically. Truth is, most buyers can't see past the ugly, worn, dated carpet and faded teak wood. Those are two VERY easy fixes, IMO, for very little $$$. They turn the boat into a newer looking one instantaneously. If it's an inside cabin carpet, all the better. A nice beige/berber carpet to replace the late 80's worn down red one gives it a "late 90's" look. EASY. Same with the teak IF it's structurally in good shape. Acid wash, rinse, expensive teak oil ($40, big deal) and bammo - looks like new.
3. Selling : Yes, CL is easy and cheap - also a HUGE time waster with 5 "lookers" for every interested buyer. I would list there, but prequalify anyone who replies. An overlooked place to list - the local newspaper. Yeah, old school, not techno cool, but only REAL buyers look at boats listed there! Even better, few use it anymore so your listing will be seen. I also used a person who lists on all major boat selling/buying web sites for a very reasonable price. So, invest the $350 or so for MUCH better buyer opportunities than CL. CL IS a great place to buy from a seller who doesn't know that most better boats sell elsewhere.
IF you are mechanically handy and can spot the real issues before buying, then I do think it can be a profitable hobby. Yes, you also need storage space and time to get a decent price when you sell. I see boats on CL that are selling for %500-$1000 that certainly could be parted out on eBay for more than that amount. That takes work though, so not an easy buck. Wrecked boats with good engines and drives may be the ones you can make $$$ on for scrap. As was said, in cold weather regions, the spring cracked block market is always strong! If you have the ability and facility to remove the engines and put on a pallet for shipping or pickup, it may be worth it. You do need to make sure you have a place to discard the junk hull once stripped for parts though. Around here it's only $250 or so to get rid of maybe a 23' boat - not too bad.
Lastly, "nothing ventured nothing gained"! Heck, if you make a go of it and it doesn't work out, big deal. Maybe you learn some new skills, maybe you meet some nice people, maybe you get a lead on a great "spare time" security gig... who knows. Getting out there and DOING somehow seems to make things happen, often not exacly in the way we had planned. Go for it. Good luck.
