Join Date: Dec 2011
Location: Guanaja, Bay Islands, Honduras
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Re: Apparently I'm not meant to have a boat...
I'm a little perplexed by the economics of this. The mechanic said the repairs exceed the value of the boat.... Is that based on the current value, or the value after the repairs? I'd imagine a boat like that with a reliable power plant would be worth more than one that had those repairs waiting for the next owner. If you had bought the boat new in 1980 and still owned it, the need for those repairs would have arisen anyway; maybe not all at once, but you still would have had to pay the piper. Back to the economics for a minute; A quick look on yacht world seems to indicate that an 80's vintage Allmand 31 is worth about $20k. I'm not a mechanic by any stretch of the imagination, but $20k for those repairs sounds like a lot. Even at half that, it feels like a stretch.
I bet an 1980 Allmand with a messed up engine would sell for 5 grand down here on a good day. It would only fetch 20 grand if completely restored and in primo conditon and the buyer was a little on the newbie side. That is probably what the Marina guy was getting at. And I bet at the end of all this the total will be about 5 grand said and done. More if you pay someone else at yard prices to do all the work.
" Some are boat wise and some are other wise"