Cost per foot

[rsmitty814]

Does anyone have a general idea of the cost of a rebuild? Stringers, bulkheads, transom and floor for moderate craft. Say 18 ft. bowrider? Driving around I see alot of boats that haven't moved in years. Was wondering about rebuilds and resales.

 

[jbcurt00]

Re: Cost per foot

Resale won't be a profit maker in most cases, and that's counting 100% of your labor as free.

$3000-4000 w/ moderate choices on interior finishes, and minimal motor work. Pour in flotation foam alone might be more then $400 on an 18ft boat.

 

[Woodonglass]

Re: Cost per foot

Yeah, not much profit in restoring for proft. By the foot cost for a total rebuild not counting motor issues would be $100 to $150 per ft.

 

[rsmitty814]

Re: Cost per foot

Thanks guys. I was an auto mechanic so the motor both inboard and outboard is not a problem. I am a carpenter and house remodler so I'm not afraid of work. I'm just not familiar with fiberglass reconstruction. Would like to pick up a project just to get my feet wet..lol

 

[zool]

Re: Cost per foot

The only true way to profit off them is to find the ones with a drivetrain, offer to take it away for free or a small fee, part out the serviceable pieces and scap metal, remove the tank, and haul the carcus to the landfill.

its still a waiting game for the parts to sell, if theres a need.

 

[idonthaveaname]

Re: Cost per foot

First you buy about $500 worth of stuff. Then you realize that $500 worth of stuff doesn't go far. So now you buy $1000 worth of stuff. Once you go through the $1000 worth of stuff you find you will need just $500 more worth of stuff which magically turns into another $500 more worth of stuff and then another $500 more worth of stuff until you get to about $3000...maybe.

 

[Trooper82]

Re: Cost per foot

First you buy about $500 worth of stuff. Then you realize that $500 worth of stuff doesn't go far. So now you buy $1000 worth of stuff. Once you go through the $1000 worth of stuff you find you will need just $500 more worth of stuff which magically turns into another $500 more worth of stuff and then another $500 more worth of stuff until you get to about $3000...maybe.

Deja vu....

 

[rsmitty814]

Re: Cost per foot

So let's say I had $4000 into a boat that I got for say $300. Just for arguments sake, let's say I did a great job and fully restored it like new, structurally. So I buffed out all the oxidation on the gel coat and rebuilt the motor. 20 yr old boat in showroom condition. Will withstand a marine surveyor and pass with flying colors. Why wouldn't I be able to sell at a profit. Ppl restore rum runners for huge sums. I'm just after 100% profit.

 

[Woodonglass]

Re: Cost per foot

Boats are not cars. A 300 dollar boat is prolly gunna be 20 years old or more. Even if it Looks like new I seriously doubt you'll find many buyers @ $8,000. You Might, maybe if you're lucky get back what you put into it not counting your labor. 100 hrs minimum labor to restore it. If you pay yourself $15 bucks an hr You'd have to sell it for 5500 and I still think you'd have problems. Check Craigslist and see if you find many 20 yr old LIKE NEW boats selling for that. But hey that's just an old dumb okie talkin. Maybe NY is different. I know I would pay it if I found an iBoats documented rebuild boat. Pics tell the story and if I could document the materials and quality of craftsmanship put into the restore, then the price would be worth it compared to a new boat. Some people don't see it that way. Lot's of people have asked this question here on the forum, but I've not seen anyone say they have successfully started a boat restoration business.

 

[zool]

Re: Cost per foot

look at it this way, most, if not all boats you will find for $300 or free even, will be 20+ years old ('93 or older), and most like neglected. Also, most will be of the price point, budget boat brand. 11 of of 10 of them will most likely need a full rebuild to pass a survey... buffing the gel wont cut it. In the end, it will be outdated in style, tech, and alot of components will have used up their useful life cycle.

You can buy a Dodge Airies k for next to nothing, cut and buff, clean it all up, tune it all up, weld the rusted frame, yada yada...in the end, you will get peanuts.

Find a Donzi, Bertram, Scarab, Blackfin, Tiara, Mastercraft, Fountain, Formula ect, and you could fare ok, but you wont find one of those for near that price, you will find Imperial, Bayliner, Sea Ray, Fiberform, Citation, Four Winns, ect ect..

 

[jbcurt00]

Re: Cost per foot

Boats aren't cars, and very few are rare, at least few tin or fiberglass boats are.

A perfect factory accurate resto of a 20yr old boat, is still a 20yr old boat.

There is currently a boat for sale in Canada, that was immaculately rehab'd & chronicled on iboats. Only a handful of calls, a couple of lookie lou's, and 1 exceptionally low ball offer.

A random 20yr old 18ft I/O:
1993 SeaRay bowrider:
[h=3]Values[/h]

	Suggested List Price	Low Retail	Average Retail
Base Price	$12,895	$3,550	$4,050
Engine 136-200 HP (3.0L - 4.3L)	$1,225	$1,225
Options: (add)
TOTAL PRICE:	$12,895	$4,775	$5,275

I don't think I want to put $4300 into a boat I 'might' get $5275 for after 4-6months of my labor.

If you think you can flip a boat for profit, find a $300 boat & start pricing materials and looking for comparable boats for sale.

 

[jigngrub]

Re: Cost per foot

Lot's of people have asked this question here on the forum, but I've not seen anyone say they have successfully started a boat restoration business.

Nor have I seen anyone say the sold their restored boat for a profit on materials... let alone paying them a decent working wage too.

The vast majority of boat buyers don't realize the value of buying a properly restored boat, let alone the amount of time and money that will have to go into the rotten boat they would chose over a nicely restored boat. They think they can buy an $800-$2500 rotter and take it out on the lake the next day only to soon find out it needs a full restoration. We see it all the time on this forum. It's a great learning experience, but doesn't fare too well with getting on the water soon.

If you'll do a Google search for restored fiberglass boats for sale you'll find a few, then bookmark those boats and see how long it takes them to sell and look at the date when they were posted too... the boat may have a better chance of rotting out again than selling unless it's a very unusual or desirable boat with an exceptional build. I'm pretty sure that the vast majority of those boats are sold for way below the initial asking price just to get rid of them.

 

[rsmitty814]

Re: Cost per foot

Well nobody has read the stipulations I have stated. Everyone is fixated on my being an auto mech. Yes boats are not cars.
By keeping the selling price under $10,000 for a boat that will last another 20 yrs doesn't seem unreasonable.

 

[Scott Danforth]

Re: Cost per foot

Well nobody has read the stipulations I have stated. Everyone is fixated on my being an auto mech. Yes boats are not cars.
By keeping the selling price under $10,000 for a boat that will last another 20 yrs doesn't seem unreasonable.

with all the newer garage kept boats out there running for much less, people will not buy it. Restoring boats is not like restoring classic cars like a '66 GTO. its like restoring mid 90's front drive Buick skylarks or Cadillacs. you can do the work, however the clients are limited.

Boat restoration for yourself only makes sense in the following:

its your dream boat and you cant find the same boat that does not need restoration
you want to get into boating and your building it for yourself and want the pride in doing so
You really like itching from fiberglass no mater how much tape and tyvek you use
you like replacing your tools that eat themselves from fiberglass dust
you have too much disposable income

For many of us here, its the first or second. Although there are a few that I am convinced really like the itching


the only way to make a little bit of money on a boat restoration is to start out with a whole lot of it. Remember BOAT stands for Break Out Another Thousand.

If you want to start making money on boats, get into repair of rental boats at Disney or some Rum Soaked beach resort. Nearly every rental has a chargeable repair

 

[glenn property of pam]

Re: Cost per foot

you can thank the people who do bad rebuilds on boats for keeping the resale price down. I tried to sell my bassboat that I rebuilt just over a year ago. firstly no one believes that the boat is rebuilt correctly as theres to many deck overs and transom steel plates available in the area, Other people look at the boat and decided that they can buy the same boat for half the price and the seller says that the deck and transom are solid. Value is based on what someones willing to pay so a restored bayliner is worth a little more than a craigslist bayliner to most buyers that have no idea what they are buying.

 

[jigngrub]

Re: Cost per foot

Well nobody has read the stipulations I have stated. Everyone is fixated on my being an auto mech. Yes boats are not cars.
By keeping the selling price under $10,000 for a boat that will last another 20 yrs doesn't seem unreasonable.

Don't take our word for it, try one and see!

Go find an old rotter for cheap that you think will have appeal and one you'll be comfortable with restoring and do it, then put your double money price tag on it and see how fast it sells for what you want.

 

[jbcurt00]

Re: Cost per foot

The central NY market maybe different then my market, but, nope, in my experience, everything posted until now is accurate, IMHO.\

The statement: Boats aren't cars has nothing to do w/ you or your experience as a mechanic. As Scott D mentioned, older boats are a dime a dozen, and most are in need of major work. And very few have a GTO or classic car following. Esp in the 15-25yr old boat category.

Get further back, and sure there are fewer 1950-60's boats, but still are very few that command much of a premium, factory perfect original condition, or perfect factory accurate restoration or not. And being 50+yr old boats, their all the more likely to be trashed & heavily modified by previous owners. Sometimes stripping them of any value what so ever. Aluminum FeatherCraft's come to mind.

Also, some sellers, unfortunately don't know that their boat is 1 foot short of being a derelict vessel, other sellers intentionally hide that fact, some hide it better then others.

Read thru some resto threads. A huge # of them start w/:

I bought a 'good' looking boat for $3500 & oh carp what have I gotten myself into? This thing is a rotten mess....Help~What now?

As Glenn mentions, buyers will look at 2 1985 boats:

1 looks good & the seller says it's water ready for $1500. It likely isn't but buyers don't KNOW how much really ugly, bad stuff is hidden below a good looking exterior.

The other is $3500, looks the same, but HAS been completely rehab'd & IS water ready.

A vast majority of buyers WILL consider the purchase of the 1st $1500 boat, but WON'T consider the 2nd. Even if 'proof' of rehab is offered in pix, resto record or on iboats. It's a 25yr old boat, and it looks like a 25yr old boat. Even if it's a really nicely done rehab.

It doesn't make much sense. But like I & others suggest, if you think you can, please find a boat, rehab it & list it for sale. If you do, I truly wish you a great deal of luck, you may or may not need it. But this forum, shopping for project boats, and looking at pix in thread after thread of boats that were purchased 'water ready' tells me that a boat resto business for generic 20yr old boats isn't going to be a profitable business. But that's my opinion, and I could be wrong.

If you like projects & need a hobby to occupy your time, there are worse ways to spend both time & money. Also be prepared to start to amass great quantities of boat 'stuff'.... Motors, windshields, boats, trailers, navigation lights, steering components and parts & pieces of all of those....

It is a sickness, and when it grabs you, it's got you. The abyss does indeed stare back at you. Don't take my word for it, ask my Admiral.

I built a small, knock down plywood boat 2yrs ago. Until then, I'd never owned a boat. That is NOT the case now.

 

[idonthaveaname]

Re: Cost per foot

Well nobody has read the stipulations I have stated. Everyone is fixated on my being an auto mech. Yes boats are not cars.
By keeping the selling price under $10,000 for a boat that will last another 20 yrs doesn't seem unreasonable.

If you rebuild for yourself and keep the boat that is admirable. Reselling for a profit simply won't happen. In FLA I can buy a boat like this that needs nothing, looks new, and runs great for under $1500 all day long. Change the style to a center console and the price jumps however. For about $2500 I can buy a very nice 17 to 21 footer loaded with all the bells and whistles and it needs nothing. It boils down to your market and what you want to do. Personally I have had a lot of fun and experience with rebuilding. I would not do it again. Just sayin.

 

[rsmitty814]

Re: Cost per foot

Well it is just a thought and I do need something to do this winter. First step is to stop at these homes that have boats seemingly unmoved for years. Thanks for the replys and maybe I'll have a boat salvage yard this coming spring.

 

[inside0ut]

Re: Cost per foot

It is a sickness, and when it grabs you, it's got you. The abyss does indeed stare back at you. Don't take my word for it, ask my Admiral.

I built a small, knock down plywood boat 2yrs ago. Until then, I'd never owned a boat. That is NOT the case now.

Understatement of the year. I bought my first boat this year and it was a resto. When the title work didn't pan out, I got another boat for next to nothing to try and fix that up. Now im looking at another boat, mainly for the trailer, outdrive and spare parts. But I still look at it and say "Man, that hull isnt too bad...maybe it can be a project after i finish this project." It is an addiction.

We need a forum for BA lol... Boaters Anonymous.