Is there any money in renovating larger boats?

[Ragnahex]

Hi just an interested question really. Currently i have overhauled a few small trailer-able fishing boats and managed to make as sensible amount of return for a bit of elbow grease. But as you increase in size does this ability fall away? the beauty of these small boats are they are everywhere and a shabby one can be picked up for next to nothing and sold for a bit more than nothing
Please note i have the benefit of large empty buildings that i can work in for free (hence me repairing things in summer it's better than wasting the space and i got bored of cars)

 

[kashurst]

I've wondered that too. If you find a real bargain (owner died/lost interest years ago) that needs a lot of cosmetic work (ie cheap materials) and a good scrub up in the engine bay then yes money could be made. The downside is that the risk is greater as the initial cost/ time and materials will be more and at the moment the second hand boat market still has falling prices - especially in Italy/Med. I also wondered if it's possible to take out the old style ladders to the flybridge (princess 415s, Fairline 43/5 etc) and build in proper steps as per more modern boats to give them more appeal as the hulls/engines etc are essentially still the same. I've rebuilt a few old cars over the years too (doing an old 944 at the moment) and quite fancy doing a boat up properly, engine out, tanks out etc so that when its all back together I know everything is tight correct and in good order.

 

[volvopaul]

Y

I've wondered that too. If you find a real bargain (owner died/lost interest years ago) that needs a lot of cosmetic work (ie cheap materials) and a good scrub up in the engine bay then yes money could be made. The downside is that the risk is greater as the initial cost/ time and materials will be more and at the moment the second hand boat market still has falling prices - especially in Italy/Med. I also wondered if it's possible to take out the old style ladders to the flybridge (princess 415s, Fairline 43/5 etc) and build in proper steps as per more modern boats to give them more appeal as the hulls/engines etc are essentially still the same. I've rebuilt a few old cars over the years too (doing an old 944 at the moment) and quite fancy doing a boat up properly, engine out, tanks out etc so that when its all back together I know everything is tight correct and in good order.

I did a Fairline Corniche a few years back, engine shout new tanks, paint bilges, new fuel lines and some wiring, fit a good used genny etc , then new carpets, upholstery , hull scrape, new nav gear. I calculated the time I spent and the money on materials, with a mark up on parts as if it were a job along with moorings, lifts and insurance, took a year to sell at proper money but I enjoyed it very much but the profit margin was small as prices were dropping while I was doing it. Still it taught me a lot and I had a great boat at the end of it. Not sure I'd do it again. Looking at Euro prices last night I'd just go and buy one over there under 10 years old and tart it up and sell on.

 

[Ragnahex]

oddly enough i made more from rebuilding an old tractor than the last few boats. Maybe i am going in the wrong direction

 

[longjohnsilver]

oddly enough i made more from rebuilding an old tractor than the last few boats. Maybe i am going in the wrong direction

I'd stick to small boats, low initial outlay with a potential high % return, and there always seems a good market for the smaller starter type boats.

 

[ontheplane]

I suspect there is more to be made doing up 4 cheap boats than 1 big one to be fair.

 

[Ragnahex]

yeah that's fair enough maybe i will look at eventually getting a larger one for myself. As soon as i can convince the other half (maybe 5-10 years more of pestering)

 

[petem]

I'd be looking for cosmetically scruffy late nineties / early noughties popular Brit boats, Targa 29/29/30/34, Phantom 38, Princess V39, Sealine S28/34/37/F33/F36. Haggle very hard and try and get a cheap deal (perhaps an empty leg) on transport back to the UK. Deep clean and polish and upgrade interior and exterior upholstery using contemporary colours (cream or blue/greys). Renew or add teak decking (if you're good at DIY you can do TekDek yourself). Remove, re-paint and service engines and drives. Don't get carried away with upgrades.

You won't make a fortune but you might get a few years of depreciation free boating.

 

[crazy4557]

I'd be looking for cosmetically scruffy late nineties / early noughties popular Brit boats, Targa 29/29/30/34, Phantom 38, Princess V39, Sealine S28/34/37/F33/F36. Haggle very hard and try and get a cheap deal (perhaps an empty leg) on transport back to the UK. Deep clean and polish and upgrade interior and exterior upholstery using contemporary colours (cream or blue/greys). Renew or add teak decking (if you're good at DIY you can do TekDek yourself). Remove, re-paint and service engines and drives. Don't get carried away with upgrades.

You won't make a fortune but you might get a few years of depreciation free boating.

This is pretty much what I've done on all my boats over the last 12 years. To be honest I've enjoyed giving them a new life after they've generally been neglected and bringing them back to their best. Sometimes challenging, nearly always expensive but always very satisfying and to be honest I've had nearly free or at least fairly low cost boating over the years.
If I bought a brand new shiny boat I'd be bored....

 

[Ragnahex]

yeah that's understandable. I am always someone who is happier fixing things. The devil makes work for idle thumbs and all that. My other half prefers shiny things though so may have to wait till we move house again and i have renovated that. Not in the best area for boating really (lake district) as i always find the lakes a bit dull for my liking. They were great fun as a child but if you can build a raft that keeps you dry and goes across it i fail to see the appeal of boating at walking pace on them

 

[superheat6k]

Y

I did a Fairline Corniche a few years back, engine shout new tanks, paint bilges, new fuel lines and some wiring, fit a good used genny etc , then new carpets, upholstery , hull scrape, new nav gear. I calculated the time I spent and the money on materials, with a mark up on parts as if it were a job along with moorings, lifts and insurance, took a year to sell at proper money but I enjoyed it very much but the profit margin was small as prices were dropping while I was doing it. Still it taught me a lot and I had a great boat at the end of it. Not sure I'd do it again. Looking at Euro prices last night I'd just go and buy one over there under 10 years old and tart it up and sell on.

Did you see any aft cabin boats < 40' < €70 k ?

 

[Harryjames]

small boats business is a way convenient step both for maintenance and for making money .

 

[Ragnahex]

i am hijacking my own thread here rather than fill the forum with more. Has any company looked at small scale energy generation for smaller boats? i see there is a plan for a big wave boat to generate huge energy however i was thinking of some kind of stabilizer system that uses that force to generate energy (yeah i know it is pie in the sky thinking)