Does it still make sense to restore old boats?

johnstreatfeild · Oct 3, 2012

Practicality doesn't count

If we all took a very particle approach to our sail boat purchases, few if any of us would own a boat. If I ever stopped to calculate what it costs me in terms of $ and effort hours for each hour of enjoyable sailing, I'd probably sell my boat tomorrow. Fortunately however, many of us find pleasure and great satisfaction in working on our boat. Often we use the excuse of having to fix something just so we can spend time at the marina. While I wouldn't turn down a nice shiny new boat, I think in my own way I get more pleasure out of owning one that has a never ending list of things I need to do that provides a perfect excuse for spending the weekend a the marina.

Squidd · Oct 3, 2012

My boat compleats me....

rgranger · Oct 3, 2012

I am seeing a theme develop here that has not been explicitly stated. The main argument against restoring an older boat seems to be that it takes away from your sailing time.

I think this argument carries the most weight ONLY for those people who keep their boat at a marina.

For those of us who keep their boat on a trailer in the driveway, it is not as compelling an argument. I work on my boats 30 to 40 min. at a time in between other fatherly obligations. A little sanding here, some varnish there etc. And those small chunks of time would never be available to me for sailing.

So maybe the answer to this question depends on how you use a sailboat.

Randyonr3 · Oct 3, 2012

rgranger said:
I work on my boats 30 to 40 min. at a time in between other fatherly obligations. A little sanding here, some varnish there etc. And those small chunks of time would never be available to me for sailing.

So maybe the answer to this question depends on how you use a sailboat.

Great post, wether or not it makes sence depends on what your goals are..

Remember a guy that spent years re-building a boat to it origional merit only to sell it when he finished.. He wasn't as interested in sailing as much he was in restoring the old boat..

For myself, life is to short and as much as I would love to restore an old boat, my love for travel is more.. for us, our boat is just a motorhome on water to get us to our next destination.

zeehag · Oct 3, 2012

there are those of us who rebuild cruising boats as we sail to other places--is a combination of sailing and hiding from named storms.....since our boats are our homes, it is not as if we actually count exact dollars for repairing--kinda like a house on land---as long as it floats and it sails, then is good--repair the other items needing repair and stay ahead of the important stuff.

anchorclanker · Oct 3, 2012

And thats it in a nutshell. Different strokes. Some just want to sail new boats and absolutely will not work on their boat, some just want to tinker all the time and seldom if ever sail, some like a mix of both worlds. Thankfully there are enough boats in every category to go around.

I waffle a lot, so I could be in any category at any time, depending on my mood. I had an 81 Mercedes SD once that I really never drove, just worked on it. But I eventually got tired of that. As ive gotten older I want to work less and play more. Something I could just "maintain", but that is already fully sailable would be fine. But maybe tomorrow ill change my mind, lol.

tommays · Oct 3, 2012

NOBODY takes a BIGGER loss than the orginal owner on any boat

There is pretty much no consumer protection on a new or used boat purchase like most of the public expects from a car

In my experience it is up to the dealers good will to fix issues and i don't care how much insurance a survey person carries you would generally need a good lawyer if they miss something big

The Cal 29 was hit on the mooring 6 weeks after the 20 month refit and we were very happy it was NOT a new boat and that the boat that hit it made a reasonable offer on repiars

brian3820 · Oct 3, 2012

In my own case the answer is YES it's worth it. However, situations vary from owner to owner. If you have "Skills" this becomes a slightly easier decision. If you don't have skills and are paying others to do the restoration, maybe not. In my case as many know, I bought a 1984 h34 that had cracks in the pan. I paid 9k. VERY Long story short, all told I have 5k in a total repair and REFIT. There isn't one single original surface in the boat. Everything was hand made. Complete redesign. This includes bottom paint and deck paint. Those who have seen my boat in Huron know what I have done to her. The broker that sold it to me told me they would list it for 40K in a heartbeat. Would I get that much, of course not... BUT, I would get mid 30's ... ( For my area) ... The point... I have made money on this investment. BUT, I did the work myself. Some may be able to and some may not. I look at this compared to the purchase price of a new boat and its pretty simple for me. It IS a commitment to redo one...and you MUST know what you are getting in to. Would I do it again, if time and money allowed, yes... As of now, my boat is totally paid off, and I can enjoy her without worrying about making a payment on a new boat.. This also gives me piece of mind. So...my 2 cents is simple, if you have skill, a little cash, a little time...it MIGHT benefit you to restore an old one. This is a decision that can only be made by the individual who knows best...."You" ......

Emory M · Oct 3, 2012

Old boats

To me this a question of how you define your self. I prefer to have hands on because of my love for Boats.It is the pleasure not the economic return. I make my own stainless wood cheeked blocks,do my rewiring, do my standing rigging and what ever it takes because I can. But I'm able to do this because I don't have a mortgage,car payment and childeren to support. I have a wonderful life partner who supports me in my efforts and points out when it would be to our advantage to rethink projects.

anchorclanker · Oct 3, 2012

I could get more done at 16 than at 30, and more then than now. But the quality of work is better. Like my Great Grandfather often said, too soon old, too late smart.

jibes138 · Oct 3, 2012

Here's another perspective. When a builder makes a new boat they start with laying up a hull and deck. Then they add some stuff to it. With an old boat you already have a hull and deck. Some of the "stuff" I refer to needs to be replaced and some of it doesn't. You have more work than building a new boat because installing stuff before the deck is installed is easier than ripping out stuff laying like a contortionist in a cramped space. And pulling out the old and putting in the new is more than just putting in the new. So the savings is really in the fact you don't need to build a hull and deck and pour a keel (maybe). Costs at retail are certainly higher than builder costs but none of these builders have what you would call volume and that's one of the reasons new boats cost so much. If they made 500,000 Island Packet 40's a year they would cost about 75K and would be built by robots.
This needs to be approached as a "hobby" and all hobbies cost some money unless your hobby is watching the grass grow.

Fred Villiard · Oct 3, 2012

I about 90% done with a complete rebuild of my M25 that I got sort of by accident, it was a repo, didn't have time to inspect it, put in a 300.00 bid figuring that the trailer was worth it.

I'm raising my 11 year old grandson and he and I are working on it, I thought long and hard about doing the bare minimum to get sailable, then do the other things piecemeal or do it all at once.

Decided that it would be less work to do it all at once, the time with my grandson spent working on the boat is priceless, plus he's learning how to do things that most other kids never do.

The ROI is completely out of sight, you can't put a price on it.

Fred Villiard

Cool Beans · Oct 3, 2012

Only regrets I have are paying too much for my "needs work" boat at the end of 2009. . .now, I could have picked up a similar condition boat for half of what I payed then. . .oh well, if I could travel back in time, it wouldn't be for this

Well, that and I wish I would have made some of the initial repairs better

Oh, and not having it sit at a marina. . .damn slip fees are killer when it just sits there. Yes, I'm one of those weirdos with a sailboat that would rather work on it than take it out. Same thing with my 4x4. . .tinker with it for months, drive it on a Saturday for a few hours, then tinker with it for a few months. I've worked on the boat for about a month and half, I'll try and do a solo sail for a few hours Saturday, then tie it back up while I mess with it some more.

But then again, I do have a place on the water so. . .

Ross · Oct 3, 2012

I was blessed with having my boat in my yard at home for the years that I worked on it . Complete with my shop tools only twenty steps away

navair75 · Oct 4, 2012

If it's for a quick return on your investment then I say "no"! If', on the other hand, you get satisfaction in returning something to useful life and you can afford the costs, then go for it!

Garrett Holcombe · Oct 4, 2012

Yes. After getting a great deal, and then seeing all the ridiculous things done to my boat by the previous owner, it's painfully apparent that I saved my Catalina from an abusive and neglectful home.

She's on the mend and being well taken care of with her new family...me and my dog. She's being bashful about her name, though.

So worth it.

mark_swart · Oct 5, 2012

As I get older, it seems like I see more and more boats that I think should probably just be cut up for scrap. Ten years ago, not so much. But after doing a lot of boat work in the past 10 years, I understand what it would take to make them decent and they just aren't worth it. What I'm picturing here is that mass produced 22-25 footer with no sails, engine, cushions and six inches of water in the bilge slowly rotting the bulkheads. So you're looking at thousands in materials alone just to fix it, not to mention time. Several at my marina like that, and I can't fathom why somebody would pay $197/month for it to just sit there and die a slow death.

MLampner · Oct 5, 2012

Love my old 30, yes I was lucky she was in good shape, other than a major commitment to repower which cost more than she was and is worth still love her. Boats may or may not have souls (as compared to soles) but of course that could be true for people too. The religious argument is for some other forum. I look at my 60 plus body and figure what it may cost to keep it going another 30 years, I'd bet on the boat being the better investment...

mwadkins · Oct 5, 2012

To my husband and I it was the only thing that made sense to us. We bought a 1974 Irwin 25 with trailer for $2100. Now as all of you probably already know $2000 is the cost of a trailer alone. So we feel that we got a pretty good deal.
the break down of the pricing we got on this package.
Boat-$1000
Trailer=$1000
New unused 50lb thrust electric trolling motor-$100
slip rent paid through Feb 2013-FREE
0% financing on the package. We gave $1100 up front for boat and motor he is holding the trailer for us to purchase at a later date.

My husband is a paint and auto body guy, I refinish furniture, we both have construction know how and there are many options for lower than average cost for supplies needed for the project in our area. Plus I am one of those Crazy Coupon Ladies and can save money on anything...lol.

Simply going in her and cleaning her up a bit honestly made her 100% prettier. We plan to dry dock at our house before the freeze we will then begin the restoration process for very little money. Due to my refinishing biz I have lots of the materials already on hand that were free to me which we will be using on this boat. Not everybody has the luxury of walking up and buying a perfect condition boat $5000+.

Today I went yard saling and purchased all of the tupperware, dishes, pans...etc for $20 we will need on board. After sorting through my $20 truckload I then turned around and sold the remaining items for $90 yep that's right I made a $70 profit putting supplies on my boat. I didn't pay to put these items in my boat...people paid me $70 to put these items on my boat aaannnndddd I still have more items to sell. To be honest this is how most items will end up on my boat even the upgrades, lumber, bedding, cushion covers...etc...it will be free or I will earn money to do it. Now all of that money I am earning to stock and restore my boat will go towards the purchase of the trailer. and tomorrow is auction day...wonder what treasures I will get for free there...lol

So yes it makes perfect sense to spend $1000 on a boat that just needs a little TLC and a few upgrades...even though this isn't major work per say it is usually a major expense.