Buying a sunk boat... - Page 3 - SailNet Community
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post #21 of 30 Old 01-29-2009 Thread Starter
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Well, I am a drifter of sorts, you could say. Right now I'm in Wilmington, NC, back again from Cleveland, my hometown, but after the superbowl I'm heading down to Jacksonville, FL for a while to stay with a good friend of mine there. I figure I'll start looking around there, but I work on the internet, so the 'where' part is less important for me. Providing it's not too cold, I'd pretty much relocate anywhere to get the right boat. Sorry I neglected to mention that. Ideally, Florida, and otherwise it would be nice to keep in on the east coast for now, but I consider myself an opportunist more than a planner, so it all depends on what I come across.

I once went to Ocean City MD, mccary, btw, which I really enjoyed, and I've been thinking about checking out Philadelphia for a while now, too. So, if you happen to know anybody...

Thanks again everybody.
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post #22 of 30 Old 01-30-2009
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Quote:
Originally Posted by panamade View Post
T.... So first of all, I think I'll offer the guy $10 dollars for this one, cause that would be worth it to me even if I just took it out in the inlet and sank it again myself. ...

panamade(@live.com)
I hope you are joking! That $10 would be likely to end up costing you a lot, as you assume responsibility for the storage and eventual disposition fo the hulk. More likely than not you won't be ablre to get insurance on it, so you couldn't benefit from any accifdents that might take it off your hands.

Note that you cannot legally dispose of a boat by sinking it, if you do so and the USCG becomes aware of whaere the boat is, you will be resposible for the salvage costs, which could easily far exceed the costs of an excellent condition boat.

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post #23 of 30 Old 01-30-2009
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Tell the guy you'll dispose of the boat for him. Tell him it'll only cost $1000.

Chris

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post #24 of 30 Old 01-30-2009
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Panamade,

With a good boat and your attitude sounds like you will be sailing the world in no time. Don't give up there are plenty of good deals. Go to the Mom and Pop Marinas I see deals there all the time.
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post #25 of 30 Old 01-30-2009
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Panamade,

To your original question; what are the perils involved in buying and restoring a sunk boat? take a look here. This guy did it, and outlines what was involved, with a 20 year old Pearson. He dosen't talk about his budget on his site, but you can always email him.

A quick check in YachtWorld shows '86-87 O'Day 272s range in price from $9500-17K.

- Ed
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post #26 of 30 Old 01-30-2009
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I agree with the folks who are saying that this guy needs to pay you to take the boat. I bet you get a boat and some money.

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post #27 of 30 Old 01-30-2009
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Call around some of the local trash dumps and stuff and see what they would charge to haul it off. Here in Md you can dump a 22 footer at the landfill, any thing larger has to be cut up (thing chain saw and such) and disposed of in a dumpster, then the dumpster hauled away.
Take 10% off those estimates, tell the guy you'll take it if he pays you that.
That boat is costing him money for slippage.

If he agrees, run like hell because it's still not worth it, not unless you have money which as a drifter I doubt.

Lessons learned are opportunities earned.
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post #28 of 30 Old 01-30-2009
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As other have said, I'd be very leary. If $1400 is at the top of your budget ("...nearly everything you have..."), you need to consider what it's going to cost to get it into livable, not to mention seaworthy condition. You can do better. What is it about this particular boat that you like so much?

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post #29 of 30 Old 01-30-2009
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Three words,

Don't do it.

I am always suprised when people buy boats that are totalled. The cost of repairing this boat will far exceed the cost of a similar boat that is sitting unused in the back of a boatyard.

When you are in florida drive around to some boat yards and have a look at the boats that are all the way against the fence in the back. There will be a boat that hasn't been touched in five years that will need much less money to get moving again. Then ask people in the yard what they know about it.

While both the owner of the boat yard and the owner of the boat will ask for what seems to be a fair price for the boat and more than you can afford, realize that this boat is costing them both money and they would be happy to part with it for 500 or 1000 dollars.

Give insulting offers of 500 dollars on five of these boats and you will be the owner of a boat that has never sunk. You probably haven't gotten the best deal you can unless you have insulted a few people with low offers.

Also see if you can get your hands on an article by Captn Fatty about cruising on a dime. It was in Cruising World two or three months ago.
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post #30 of 30 Old 01-30-2009
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Quote:
Originally Posted by CLucas View Post
As other have said, I'd be very leary. If $1400 is at the top of your budget ("...nearly everything you have..."), you need to consider what it's going to cost to get it into livable, not to mention seaworthy condition. You can do better. What is it about this particular boat that you like so much?
I don't think it's this particular boat but the particular model that he has fallen in love with. Although a 272 is gonna be hard to come by for that low. that's for sure. Anything 27 ft will be. Although I know where he can get an O'Day 23 in reasonable condition for about $1000 assuming he can pay today

Chris

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