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  #11  
Old 11-28-2009
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Quote:
Originally Posted by ehmanta View Post
Here's my 2-cents.....
If you are buying a boat which you plan on selling in the not-too-distant future, don't put a new engine in, but a re-built one. Re-built engines usually have new bolt on components such as alternators, fuel pumps, injectors, and at least a re-built injector pump. It could save you 30-50% of the cost of installing a new engine and you are much more likely to re-coup the cost. If you plan to keep said vessel for more than say ten years, go for a new one and consider it good insurance and the price would be spread out over a longer period.
That is exactly the catch 22 I'm trying to put a number on. If you go rebuilt and try to do it as inexpensively as possible and keep the shaft, prop, fuel tank, alternator, fuel pump, injector pump and injectors and wiring harness. You only replace the above parts that happen to come with the rebuilt engine vs doing the whole shebang then it's almost as if you are better off not saying anything at all when trying to sell. Just say maybe that the engine has been professionally serviced and repaired. If you admit to a half-assed job your work will have a negative impact on the sale price.

If you do it right and go new and spend the full 10+ plus labor you can talk about it, it has some value but how much? 10 %, 50%.
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  #12  
Old 11-28-2009
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Quote:
Originally Posted by davidpm View Post
Do you think it was just the engine that accounted for the overprice or did he do other stuff that was tacked on the price. too.
The boat, while sort of what we thought we were looking for at the time, was apparently sound but NOT pristine.. there was unfinished work in the forward headliner, the below decks wood needed redoing, nothing deal-killing in itself, but certainly nothing that justified a higher than market price. In fact it could have been said to be a bit of a fixer-upper (with a new engine).

So, no, we felt the price difference was pretty much an attempt to at least recoup the repowering costs.

He did call us back months later (after we'd bought another boat) willing to discuss the price...
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  #13  
Old 11-28-2009
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In fact it could have been said to be a bit of a fixer-upper (with a new engine)...
So maybe that is the formula. If you put in a new engine the rest of the boat had better be perfect as the new buyer will focus on the unfinished stuff rather than the new engine. I know I would.

So your standard 20 to 30 year old boat that needs a new engine will will be hard-pressed to have absolutely nothing else wrong with it.
This may at least partly explain the phenomenon.
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Old 11-28-2009
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Quote:
Originally Posted by davidpm View Post
If you admit to a half-assed job your work will have a negative impact on the sale price.

If you do it right and go new and spend the full 10+ plus labor you can talk about it, it has some value but how much? 10 %, 50%.
I don't think that installing a reconditioned engine is "half-assed". Oh, I wouldn't pass it off as "new" either, but if the block is tired, but the starter, alt, and other bolt-ons are in good shape, there's nothing wrong with that. You can buy crate engines that are brand-new and drop them in yourself. That's hardly cutting corners unless you don't know anything about mechanics and botch the job.
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Old 11-28-2009
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Finding a mathematical equation that quantifies this situation may be a moving target.
I know that I have WAY more in my boat than what I could possibly sell her for, but I sleep well at night because I justify the expenditures by telling myself (and wife) " If we were spending $$$ renting a beach front condo every year we would be spend a lot more than what we are putting into the boat". We use the boat as our vacation. I also view myself as a steward of this vessel (she will likely outlive me!) and it is my duty to maintain her in top condition so future generations will be able to enjoy her. We do it because we love it
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Old 11-28-2009
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i learned a long time ago (about13 years )

A house is expected to have windows

I did a whole house in Andersons with a lot of arch tops in a 150 house neighborhood ,all the homes same age and most had the original builder grade 50 dollar windows

The house sold fast and i got about 25% at best

I am doing a 1970 Cal 29 right now and i may swing for a diesel at some point but i am repairing the fresh water cooled A4 until we see how well the boat works out and how the repairs affect the amount i will be able to insure the boat for because at best you can increase value by part cost ONLY
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  #17  
Old 11-28-2009
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I have just been hunting for a boat in the price range of 60 k to 100 k and looked at MANY boats including some that needed repowering. I was quoted 10 to 12 K to drop in a REBUILT Perkins 4108 and 20 k plus to change to a Yanmar.

I would have paid 2 t o 3 k more for a new rebuilt and 5 k more for the new Yanmar assuming less than 500 hours. But it is a huge buyers market just now and it is really tough to sell anything.

The one I bought has a Perkins 154 that starts instantly first turn of the key and seems OK ** Fingers crossed }
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  #18  
Old 11-28-2009
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I was shocked (happily shocked) at how much less expensive Yanmars are here in Florida. A sailor put a new one in his Pearson 34 for something like $7,000 -- installed (you can add $3,000 in HHI/Savannah). I heard through the grapvevine that he recently put it up for sale, tacking on his new cost, but couldn't sell it. It's now de-listed, and he's off for the islands in the next few months.

I've heard that Beta Marines for A-4 swap outs run around $6,000. This kind of investment in a beat up $20,000 Catalina 30 might be questionable. But if you put, say, a $10,000 engine in a $100,000 boat, that seems like a reasonable investment.
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Old 11-28-2009
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I'd suggest that the value of all "working engines" is about equal. Good old engine with 1000 hours on it, hums like a clock? Typical for whatever the boat age and class is? Brand new engine might be worth the same thing, since all the buyer really wants to know is "Does the engine work well?" and in both cases the answers is yes. Now, if the engine still has a warranty, or it represents, say, $10,000 on a $125,000 boat....I'd say the new engine has some more value than just any old working engine.

But in most cases that new engine is just an enormous sunk cost that will never be recovered. I wouldn't put it in unless I was planning to get closer to ten years out of it before selling the boat--and amortizing that new engine out during them.

That's all part of why a boat can easily get so used and neglected, that it just isn't worth bringing back in shape--even when it is a "bargain".
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It's worth what you can get for it! Like Buffett said, if you want to know what something is worth, buy some of it and then try to sell it.
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