Storm damaged boats, would you?

cueball

cueball

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What's your view on buying storm damaged boats?
Obviously if they have been on the bottom you will need to replace all electrics etc. But if it was cheap enough. Would you trust a boat that had been holed if properly repaired? What would you accept in terms of damage and what is a definite no no?
I don't have one! Its hypothetical (maybe this thread will change my mind)
Thanks
 
watch my tracer over the next few months for an account of doing just this.
One thing I would say so from having bought a holed boat for a song - the purchase price is less than even getting it moved, and reflects the amount of time and effort it is going to take to bring the thing back to a useable condition.
If I had to pay someone else to do the work it would not be worth it. If I was on a schedule it would not be worth it. We are doing it as it is within our budget, and we have the time and facilities to do so, it works for us, might not work for the cash richer and time poorer though. I am sure it will take longer, and cost more than we expect, but we will know the boat properly, and will have it set up for us - providing we succeed of course!
 
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That's a pretty open question. Is it a production boat, home built or an "old timer". What is it made of - ferro, f/g, steel? What ballast does it have - lead? (that is not cheap these days) Is the winch, motor, steering OK.

Would I trust a steel or f/g boat if it was properly repaired: yes I would.
(With a f/g boat I'd worry about how the bulkheads stood up to being submerged)

Clive.
 
For me, it all depends how long the boat has been under, the original value and type of the boat and the level of damage of the fittings and furniture. Assume that the structure and engine can be restored in situ with minimum work; the instrumentation, electronics, fridge, heaters, soft furniture, headlining etc would need replacement. It is likely that one could end up spending more money on restoring the boat that purchasing a similar second hand one, unless the boat is a classic. Personally, I could not make the time for a restoration project but for someone who has the time, it could be very rewarding.
 
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coopec said:
That's a pretty open question. Is it a production boat, home built or an "old timer". What is it made of - ferro, f/g, steel? What ballast does it have - lead? (that is not cheap these days) Is the winch, motor, steering OK.

Would I trust a steel or f/g boat if it was properly repaired: yes I would.
(With a f/g boat I'd worry about how the bulkheads stood up to being submerged)

Clive.
Click to expand...

Ok let me narrow this down a bit:
Let us say its a production yacht, 35-45ft, 5 - 10 years old, GRP, holed and sunk, engine still in place and runs, mast boom and sails removed but sold with it. Value of non damaged similar yacht £75/£100k
 
solent clown said:
watch my tracer over the next few months for an account of doing just this.
One thing I would say so from having bought a holed boat for a song - the purchase price is less than even getting it moved, and reflects the amount of time and effort it is going to take to bring the thing back to a useable condition.
If I had to pay someone else to do the work it would not be worth it. If I was on a schedule it would not be worth it. We are doing it as it is within our budget, and we have the time and facilities to do so, it works for us, might not work for the cash richer and time poorer though. I am sure it will take longer, and cost more than we expect, but we will know the boat properly, and will have it set up for us - providing we succeed of course!
Click to expand...

Wow that takes courage. I look forward to seeing your account, and wish you the very best of luck. Don't give up!
 
Basically it hinges on your ability to properly assess the damage and to rectify it, your skills and your time. I have all of those and, if the boat is going for a song, yes I would consider. However, when you are finished you'll still be paying the same fees at a marina for a similar boat that is brand new.
 
I wouldn't do that water will have entered the engine exhaust pipe and filled engine with water so it will need to be replaced it will also need a new shaft and prop so add that to cost.
 
KellysEye said:
I wouldn't do that water will have entered the engine exhaust pipe and filled engine with water so it will need to be replaced it will also need a new shaft and prop so add that to cost.
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why would it need a shaft and prop? The engine is running apparently according to the OP.
 
An important tip is to look very closely at any post - 1987 boat - and try to find out where she was during the Hurricane in October '87.

Around Chichester harbour it was carnage, rows of boats sunk on their moorings at Itchenor, toppled like domino's at boatyards or driven ashore off their moorings.

Immediately afterwards lots of small grp repair companies consisting of 2-3 guys sprang up; and it was not unusual to see keels stuck back on at a different angle to the designers' intentions, I've seen this myself.
 
Seajet said:
An important tip is to look very closely at any post - 1987 boat -
Click to expand...

Pre '87 boat could have been in the area affected by the hurricane. A post 87 boat had not been built at the time of the hurricane Just saying, like.
 
If a boat been underwater for some time , really all you going to end up with is a hull maybe mast and Boom , almost everything else is going to have to be replace,
It really has to be going very very cheap so at the end of the day you end up with a boat costing much less then buying one that's not been sitting on the sea bed .

I seen a couple of videos of people going out to the cribs to look at damage boats , problems that came to light where , no parts available locally, no available skills , haveing to keep boat in yards and paying fees for maybe years before the boat ready to be moved , insurance company's refusing to insure write off boats , this list when on .
I all for projects boats , but in the end the sums have to add up . buying a cheap old boat and tarting it up is one thing ,
if you going to pay a 30 of 40k for a boat that hoping it to be worth somewhere near it valve , you going to have to spend real money to do that .
 
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cueball said:
What's your view on buying storm damaged boats?
Obviously if they have been on the bottom you will need to replace all electrics etc. But if it was cheap enough. Would you trust a boat that had been holed if properly repaired? What would you accept in terms of damage and what is a definite no no?
I don't have one! Its hypothetical (maybe this thread will change my mind)
Thanks
Click to expand...

If its that cheap that the end result is a boat that after repair costs is still that cheap then yes. Just watching on Youtube an Ozzie who bought a Lagoon 44? BUT paid $150k ish plus $20k ish to get in some semblance of order, serious holes in port side which sank. He roughly repaired to get to acheaper place to finish off. Prob is that a structurally repaired boat is exactly that and to get his estimate worth of $450k for it, it aint going to happen. Anyone with $450k to spend will want an immaculate example with no history. I think he should have paid $50k for it!
 
If the Yacht was a solid fiberglass hull with an internal pan moulding to stiffen the structure, and say it suffered damage and a split to the stern. As long as the internal pan is not dislodged I would have thought this should be a straight forward fix?
 
cueball said:
If the Yacht was a solid fiberglass hull with an internal pan moulding to stiffen the structure, and say it suffered damage and a split to the stern. As long as the internal pan is not dislodged I would have thought this should be a straight forward fix?
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How about more info , what boat ? How much? how was it damaged , you must have your eyes on a boat ?
 
2009 Beneteau oceanis 43. Don't know how much as insurance company want offers. Storm damaged, split and holed in the stern, right on waterline. Sporadic gravel rash on rest of the hull, inside total mess, all needs replacing. Mast, boom and sails ok but not on the boat and rigging cut away. Engine in place and works for now. Winches, blocks and clutches all still on boat and working, no running rigging.
 
Remember that all insurance companies would require an out of water full survey before offering cover. Therefore, the quality of work that you will have done (or that which others have done for you) will need to pass muster. If the finished boat fails you will find yourself stuck between a rock and a hard place.
 
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