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Resale Value of Hurricane Damaged Boat


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I'm contemplating the purchase of boat that was damaged by Hurricane Sandy and subsequently repaired. Mast has been replaced as were the rudder and sail drive. The hull was holed and also repaired. Wondering how this will affect the current  price I should pay, and what happens in the future when I sell?

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15 minutes ago, Issywa said:

I'm contemplating the purchase of boat that was damaged by Hurricane Sandy and subsequently repaired. Mast has been replaced as were the rudder and sail drive. The hull was holed and also repaired. Wondering how this will affect the current  price I should pay, and what happens in the future when I sell?

A quality surveyor is your friend. 

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Get a full survey by a well respected and well referenced surveyor.  Then make your decision.  So many things can go wrong with a boat that has been submerged.  Holes are easy to fix (for a good repairman on a fiberglass hull). However that’s the least of worries on a boat that presumably has been underwater.  

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A lot of variables play into this, what sort of boat?  does it have a market after you have owned it, do you have confidence that the repairs where done to a professional standard or were they a quick patch and paint remember paint and gel coat can cover up a shit ton of issues.

Did she sink or was she washed up some where.

You will have a lot to look out for, did the engine go for a swim was it properly rebuilt.

Electrics, Batteries this list can get long.

 

Any photos of the original damage might be helpful re the areas to look more closely at.

Get a good surveyor 

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24 minutes ago, kent_island_sailor said:

If the boat sank and every scrap of wire piece of electrical gear + all wires was not replaced - pass.

FIFY

Plus opening and cleaning out all hull/liner voids. Plus pulling and inspecting/replacing and rebedding all thru-hull and thru-deck fasteners.

I personally would not be tempted to buy a hurricane wrecked boat, at all.... unless it was something exceptional at a real bargain price.

You're buying a lot of risk.

FB- Doug

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I'm currently restoring my 5th boat.

I would not even consider a hurricaned liner boat.

An older stick built boat would be a different matter - one where the hardware fasteners are exposed inside. On those boats you can see what you're getting and have access for the repairs without cutting the interior apart.

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A friend's Pearson 30 sank and the engine was running within an hour of the boat resurfacing, if the engine has been allowed to sit after sinking it may be seized. Oil was coming out from places between the hull and liner at odd times for years afterwards, it is about impossible to get it all out of a liner boat.

Sink = bad.

Sink with battery switch on = real bad

Sink plugged into shore power = (real bad)^2

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54 minutes ago, kent_island_sailor said:

A friend's Pearson 30 sank and the engine was running within an hour of the boat resurfacing, if the engine has been allowed to sit after sinking it may be seized. Oil was coming out from places between the hull and liner at odd times for years afterwards, it is about impossible to get it all out of a liner boat.

Sink = bad.

Sink with battery switch on = real bad

Sink plugged into shore power = (real bad)^2

I've seen similar recoveries done with outboards, apparently if you blow it out good, fast; and get it running and up to temp, the engine and the mechanicals will be fine.

Everything else hooked to it, not so much.

FB- Doug

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A professionally repaired boat will be worth 60-70% of a non written off boat on the open market. You would be much better off being Johnny on the spot with cash & make ridiculous offers on non damaged boats. Find the forced (divorce no broker) sale & offer cash settlement in 5 days. 

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A salvaged boat from 9 years ago? I buy salvage boats and repair them so I don’t think the boat is shot, but what kind, was it sunk(pass) and why is it being sold as a Sandy boat now? Buyer never restored and is passing it down the line?

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Four questions to ask.

1) Who exactly rebuilt it?

2) When was it rebuilt?

3) What has been done with the boat after the rebuild?

4) What type of boat?


The best case scenario is that it was rebuilt by a top-shelf 3rd party, usually a small shop. Second best is a rebuild at the factory. Third best is a lousy 3rd party rebuild.

Timing also counts. If this boat was rebuilt immediately after the hurricane (almost 10 years ago now) and has been successfully raced for the last 8 years, almost zero worries. If the boat sat for 3 years, was rebuilt by the guys at the marina, and has sat in a yard ever since the rebuild... Yikes. 

Type of boat also counts. If this was a 70s boat with a plywood core, yikes. Better look elsewhere.


There are several A-scows that have seen catastrophic damage. One caught fire at a party, and the entire deck burned up. That boat was rebuilt with a new deck, named Afterburner (It was originally named Sabre Jet), and raced competitively. That boat is probably worth as much as any A-scow of that vintage. Another boat was catastrophically damaged (I believe it flew off its trailer). That boat was rebuilt by Lon Schoor and Bill Mattison (Of E-scow and Iceboat fame) in Madison. I think that one became Split Decision. That boat is probably worth more than any other A-scow of its vintage because of who rebuilt it. If I were looking for an A-scow, I would take Split Decision over almost any other boat from that era. Why? I know who rebuilt it, and I know that they fixed anything that wasn't perfect.

In short, it depends on the exact circumstances, and the best thing you can do is have someone qualified look at it, and talk to people who are familiar with the shop that rebuilt it. Are they reputed for doing absolutely perfect work, or are they a cheap shop that doesn't know what they're doing? If the guy did it himself... it's anyone's guess as to the quality of work. Could be fantastic, or it could be horrifying. 

 

 

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On 9/18/2021 at 1:52 AM, ROADKILL666 said:

Find another boat. You could be opening Pandora’s box. 

If you don't know exactly what was wrong, what was done, with good documentation.. you can simply be STUCK in Pandora's box....  and never have time to sail you 'deal'.

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I believe it is this boat. 
https://www.sailboatlistings.com/view/92580

Word around the campfire is the seller didn’t disclose the hurricane accident but I’m getting that third hand. 
Supposedly has receipts and a ton of info about the repair. Not sure if Issywa getting any traction on that though.  He seems to be jinxed when it comes to buying boats. Never seen anyone get screwed over by brokers like.  

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