Buying a sunk boat...

[panamade]

Howdy.

New to the site, new to the sea (sailing-wise). I'm considering buying an O'day 272 to serve as a liveaboard. I hardly know a thing about sailboats really, and even though I intend to learn it all real soon here, at the moment it's really about a means to an end for me. I want to rent a slip at a marina and stay there while I fix this boat up and get it sea-worthy. Renting a slip is cheap and I think I can handle the lifestyle for a while, being the wild man I am.

Anyway, I found this boat in Wilmington, NC where I live and it's in my price range, ...$1400, cause it's pretty beat up. The guy told me it sank when the through-hull came out recently which is my main concern about it. I also noticed about a foot long crack in the hull high above the water line where its been bumping the dock. What I need to know is what the perils are, if any, of trying to restore a boat that's been to the bottom. If I could make slow deliberate progress on my meager budget and have it turn into a real boat one day, this would be worth my while. But if a sunk boat is a no go, I need to know before I spend pretty much everything I have.

I can imagine how many people are going to cringe reading these details, but I don't mind doing a lot of work, and I really do sort of love the thing, if that counts for anything.

Hope you can provide me with some good advise.
Thanks very much

[panamade]

Also, btw, I believe that the inboard diesel is running, but all of the electronics are apparently shot.

[johnshasteen]

Go for it. It's fiberglas so being under water, that's not a problem, just check everything that's attached to the fiberglas.
Back in 1979 during Claudette, our boat rose as high as she could on her lines, filled with water and sunk in the slip. After the engine was pickled, sails washed, lots of cleaning, and cushions and electronics replaced she was good as new.

[Bene505]

Be careful. Sunk boats may have a negative value. That is, it may cost you money to dispose of it unless you can find someone "new to the sea (sailing-wise)." to buy it from you! Tell the seller that if he pays you $200, that you'll take it off his hands. Then watch how fast he's pays you to take it.

And slips aren't usually cheap, unless you live far from any city.

Instead, take some time to talk to several marina owners about the neglected boats they have on site. They could hook you up with a seller that has ignored his boat and is tired of paying those slip fees. (And the yard owner will be glad to get someone who pays their bills on time.)

By all means don't let these short paragraphs discourage you. Great idea, try looking around a little first.

[denby]

Welcome aboard Pan,

That O'day is 20+ years old, It may not be worth the money to fix it up. Someone with more experience will be along to help you.

[Joesaila]

Originally Posted by johnshasteen

Go for it. It's fiberglas so being under water, that's not a problem, just check everything that's attached to the fiberglas.
Back in 1979 during Claudette... good as new.

I'd have said 'no way' but Johnshasteen has a proven point of view worth consideration. However, if the water penetrated the balsa core, the bulkheads, cabinets, any tanks. And then considering the wiring...me, I'd look elsewhere. How long was it submerged? Let us know how it goes, you may surprise and even impress us with the outcome.

[Faster]

Inboard engine - electrics - not well cared for - has been sunk - visible damage on top of all that... BIG RED FLAG!

[LittleWingCA]

Pan:

Most marina's around here in Southern California require the boat to be in some kind of cosmetically acceptable shape to be a liveaboard, or even to get a slip for that matter, and need to have some basic systems functioning like a head, etc. Check with your marina as well to see what their minimum requirements are.

I expect most of the electronics and wiring will need to be replaced, and the rest really cleaned as a minimum. Not sure if you are just looking at water damage or if it sat on the bottom for a while and has all kinds of other matter in it.

Interesting project. If you get it, we would love to see the pictures as you go.

[Gryzio]

I just bought a 1973 Santana 21' to have a winter hobby. No engine, no sails $250 and that may be more than it worth.

The compression post is cracked/split and the 6 keel bolts (Retractable) have that rusty look of metal that crumble in your fingers.

It for fun and in a few years I give it to a friend's grandchildren if they show the effort to take a few sailing/boating courses. Not that I feel it important, but, it show me they willing to spend a few dollars they be more involved with the boat. If this make sense!

I trying to buy a Columbia and it have an Atomic 4 that supposedly worked last time it run 2 years ago. It have the mold/mildew smell down in the cabin. If, I can locate the owner (long story) I will offer $2000 for that boat and again, that may be too much!

[PalmettoSailor]

I owned a really nice Oday 322, and while it offered outstanding accomodations for its size, it would have been tight to live on. I can't really imagine living on a 272 for any length of time even under the best of cirumstances, much less while it underwent major restorative work. Even if you are good at the numerous skills it would take to restore this boat, and could store it free in your back yard, there is a good chance the cost of materials alone would exceed the market value of a decent similar boat.

My advice to someone looking for a live aboard with a sub $1500 budget for the boat, is to buy a subscription to Crusing World and keep saving your money. As others have pointed out, slips are not really cheap and restoring that boat to any reasonable condition will almost surely cost way more than it is worth.

I think most people that live on their boats do it because they love it and they can afford to, not because it's a cheap living arrangement.