My Project - Cost

Calivanos
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Joined: Sat Mar 21, 2015 9:33 pm

My Project - Cost

Postby Calivanos » Mon Jul 13, 2015 9:45 am

With Jeff recently posting his 32 for sale and reading about some of the other acquisitions on the forum I have a question, am I the only fool that has spent huge money restoring his boat? I don't expect to ever recoup but from time to time I feel a little stupid. I traded my Jeep for the boat (15k) but I have invested way more than that on the restoration. She's brand new basically, hull repairs, bottom job, struts, shafts, couplings, thru hulls, seacocks, rudder packing boxes, dripless shaft boxes, cutlass bearings, rudder bearings,complete paint job, bilge epoxied and painted white, rebuilt the generator engine, new bilge pumps, rear deck frame and floor, and now new doors. All windows and frames were removed, frames stripped and restored, glass tinted. Trailer rebuilt etc. Completely crazy right? I just figured where else could I get something so nice for under 40 grand. So anyone else out there ?
Calivanos
1964 31' Marinette Cabin
Twin V6 Vortecs, ZF Hurth Transmissions
Matagorda, Texas

Tranquilo
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Posts: 241
Joined: Mon Sep 08, 2014 8:55 am

Re: My Project - Cost

Postby Tranquilo » Mon Jul 13, 2015 11:00 am

Dude, I struggle with the math all the time. Some people just need to dump these things and it lowers the price. They last forever and in terms of resale value, it drops like a stone because they aren't collectables like some other boats.

In general, boats are more expensive to hold than buy. That said, the intrinsic value of a marinette is how cheap and easy it is to maintain (if you are a DIY guy). Owners know that they are paying far less to keep their boats than their neighbors at the marina. My diving buddy has a fairly new 32 Fountain with twin 225 hp Mercs. He's been down longer than I have (I'm doing an off trailer restore), spent 2k TRYING to fix it and now will need to locate the special parts (which he can't) to pay 2k more.

He's annoyed that I can grab parts at Autozone the same day and have so many people who know your engine & platform.

So, will you take a loss at sale? Its likely. Add up what it cost you to keep it and for how long. They say its usually 10% per year to maintain but that doesn't apply to older boats.

I just avoid anything that says "marine" if I can and try to contain myself from going overboard with my projects.
2x 1973 28 Express - Single 318
New electrical panels, water system and velvet drive
Miami FL & Catawba OH

thanksdad
Member
Posts: 16
Joined: Sun Jul 13, 2014 9:12 pm

Re: My Project - Cost

Postby thanksdad » Mon Jul 13, 2015 2:08 pm

The value is in the experience!
17 years of ownership
+
My Admiral
+
3 boys growing up
+
Family friends
+
A black lab
=
Priceless memories. Some things you cant put a price on.
Scott Ross
Thanks Dad
1988 32 Fisherman
Sandusky, Ohio

martindesign
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Re: My Project - Cost

Postby martindesign » Mon Jul 13, 2015 3:35 pm

You aren't the only one. I bought what my 32 cause for the money I couldn't in my mind pass up a 32 with 440s. I've since April spent twice in parts what I paid for the boat and spent literally hundreds of hours on her and she's still on the stands. The only thing keeping me from kicking myself is that when it is done it is a boat that is real quality and I "should" recoup most of the initial hemoraging in lower maintenance cost as said above. Well see. She's an old girl and I'll prolly loose my ass cause at this point I don't see the light at the end of the tunnel yet.
Machanic, fabricator, carpenter, plumber, electrician, designer, hotrod builder and glutton for punishment. :ugeek: current boat; 1969 Marinette 32 express bridge 440's
Catawba Oh

Calivanos
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Re: My Project - Cost

Postby Calivanos » Mon Jul 13, 2015 3:52 pm

I have to say keep em coming!!! I feel better knowing it's not just me. B-O-A-T (break out another thousand) morphed into break out another ten thousand...then another...I tell the wife, "oh honey, but it's going to be so nice when I am finished". I am getting close, maybe early - mid August. Then hopefully the euphoria will will relieve some of the pain.
Calivanos
1964 31' Marinette Cabin
Twin V6 Vortecs, ZF Hurth Transmissions
Matagorda, Texas

barefoot99
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Posts: 38
Joined: Sun Jul 13, 2014 9:44 pm
Location: Cincinnati OH

Re: My Project - Cost

Postby barefoot99 » Mon Jul 13, 2015 5:48 pm

Purchased our boat 4 years ago 22,000. P.O. had at least 35 in her. Newer paint , new canvas ,redone interior. Motors had 1600 hours and had been maintained and upgraded as needed. They were all around 25- 35 on the market depending on condition. I made some other offers - no one would budge on price.(Same boats are still for sale) I did the engines myself and complete bottom pain job. $ 8500 and installed a Windlass and few other convenience items $ 1600.
So I am at @ 32000.00
When I look around at what I can get today for that money I am still very pleased with our decision. This one should out last me and the upkeep is not bad. No other boat has the same room as a 32, anywhere near the money I have invested. $1000 a foot - Look at a Sea Ray or Four Winns 32.
It doesn't get there fast, but I can drop the hook and spend the night. Simply an awesome boat for the TVA lake we are on. Euphoria has arrived!
S UP !
1982 32 Sedan FB
1907 hrs
360's-Edelbrocks, MSD
Raw water cooled
Norris Lake
Speedwell,TN.

martindesign
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Posts: 96
Joined: Sun Mar 29, 2015 2:07 pm

Re: My Project - Cost

Postby martindesign » Mon Jul 13, 2015 7:45 pm

Problem is even though in my eyes these boats are very very undervalued as you said the same ones are still for sale. They arent fast movers. So my opinion, good investment to flip maybe not. Absolute best bang for your buck to enjoy, for sure.
Machanic, fabricator, carpenter, plumber, electrician, designer, hotrod builder and glutton for punishment. :ugeek: current boat; 1969 Marinette 32 express bridge 440's
Catawba Oh

Supersport18
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Joined: Wed Jul 16, 2014 3:52 am

Re: My Project - Cost

Postby Supersport18 » Mon Jul 13, 2015 8:36 pm

I was replacing my holding tank at the slip last weekend, huge Sunseeker pulled in a few slips down. Easily a million +. After all the work , I cleaned up and grilled a venison burger, washed it down with a Labatts. Who was happier? It's all relative. Consider that when you are done, you will have a great boat that you are connected to in ways that most boaters will never be. You will know your craft top to bottom. And another classic Marinette will be riding proud on the high seas! Don't compare cost with others. There will always be folks who paid more or less than you. Just have fun.
1986 Sedan Flybridge
Twin 318 closed loop
" Little Martha"
Traverse City,Mi
Hydraulic Steering (both helms)
Autopilot (both helms)

Supersport18
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Re: My Project - Cost

Postby Supersport18 » Mon Jul 13, 2015 8:38 pm

BTW, another boater saw me carrying a sawzall. Asked what I was working on. I told him I was installing a hot tub.
1986 Sedan Flybridge
Twin 318 closed loop
" Little Martha"
Traverse City,Mi
Hydraulic Steering (both helms)
Autopilot (both helms)

Calivanos
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Posts: 30
Joined: Sat Mar 21, 2015 9:33 pm

Re: My Project - Cost

Postby Calivanos » Mon Jul 13, 2015 9:03 pm

Awesome guys...just awesome! Supersport I could see someone wondering if you really were installing a hot tub!!!
Calivanos
1964 31' Marinette Cabin
Twin V6 Vortecs, ZF Hurth Transmissions
Matagorda, Texas