Reasonable price for a project?

[khryssee]

Hello all...I''d like to get some opinions on what to offer for a project boat that I''m interested in buying. The boat is basically a bare hull...no mast,engine, rigging,...interior is gutted. It''s a 50'' center cockpit CSY. The hull looks to be fairly sound, but needs paint, seacocks, etc. It''s pretty much just a big hull. Any ideas on what to offer for something like this? Thanks!

[pblais]

CSY only ever made 33, 37, and 44 ft boats.

In early years they bought boats and just chartered them. They made 44 ft walk overs and later some walk throughs with a few very rare pilot house ketches and even rarer still some fishing boats. Later still after they went belly up a few unfinished CSY 44''s were made with the Antigua label too. If this really is a CSY it probably was heavily chartered as most were. The hulls were solid glass and very thick and very heavy.

Sounds like you are starting from almost nothing. You will need to build and buy almost everything.

You can get a decent CSY 44 that needs just some work for under $80K. If it is just a hull I would look for a project that had more boat than project. Give yourself a financial break and start with something solid you can fix. Even a major refit on a 50 ft boat is no task for the faint or budget constrained. I wouldn''t offer much if anything at all for just a hull.

For more CSY info check out the discussion list on www.topica.com

[GordMay]

I would expect to get a good hull/deck "project" boat for around 10% of the fair market price for a sail-away model. Expect to put (at least) the other 90% into parts & gear etc. Your labour will be "free".
It''s not generally an "economic" proposition, but you end up with a boat done your way, with your (new) gear.
I''ve worked on a CSY CC (walkover), which has a nice engine compartment, and not much else (I recall) to recommend it. The wiring was absolutely inadequate, in every way.
OMO
Regards,
Gord

[GordMay]

The 10% figure applies to project boat /w a sound rig & structure, and a good engine.

[Tegolin]

don''t know if this will have much relevance, but I paid just over $1000 for a 29 footer in the same condition as you describe. people will tell you that you should spend more money and get one in better condition, but IMHO thats a moot point if you dont have that more money.
I have been putting Tegolin back together for nearly six months, and am about three months fron being done. Yes its abomnibally hard work, but on the other hand, I know more about my boat than many others know about theirs.
Just my tuppence worth

[jparker11]

Others have spoken only truth!! But I would have to approach it from a market standpoint. In most locales, a 40-50 foot project would appeal to a VERY limited clientele. Factor in the situation of yard storage bills and the costs to relocate the boat to more acceptable work areas and, IMHO the value becomes the sum of the value of salvageable items ( winches, spars etc) and the negative disposal value of 20,000# going to a landfill!!

You didn''t ask this, but, realistically assess the manhour commitment (again, free labor) a project like this entails. It surely must represent something on the order of 2 to 3,000 hours (or a year to a year and one half of a paying day job!! I have 500 hours in my dinky little project!!

Not something to be approached lightly!!

[khryssee]

Thanks for all the responses!(I just realized I posted under the wrong heading!) As to the make of the boat, I''m having a hard time finding what it is...I have read elsewhere that CSY didn''t make a 50'', but it looks exactly like a picture I found of a 50'' CSY Gulfstar...the guy selling it has no clue what it is, only the length. Anyway, this wouldn''t be my first project boat (but definitely the biggest!) so I know what I''m getting myself into. The boat is in a yard about a mile from my house and can be kept there for $60/mo. so I''m not looking at any huge transportation or yard bills. But I still don''t have any idea what to offer him for it? $1,000? $2,000? I''ve never bought a bare hull before...(obviously!)
Thanks!

[khryssee]

I forgot to add that the boat is a walkthrough...anyone have any idea what it could be?

[thefantasea]

From your description of its condition, I would ask the owner how much he would give me to take this albatross off his hands.

[cgha33]

I''d try to "steal" the thing.

All he can say to a very lowball offer is either "yes," "no," or he''ll make a counter offer.

No one has probably inquired, so the chance to get anything out of it will probably wet his appetite, IMHO.

At least it''s a starting negotiating point.