On Tue, 09 Sep 2003 21:30:23 -0400, Wayne.B
wrote:

On Tue, 09 Sep 2003 13:02:26 GMT, Jaz wrote:

I'll have to disclose that it sank makes me feel that
this would not be a good project for profit,

I definitely agree with that unless you have unlimited time and
resources.


BTW, it's a '98 Albin TE 28 (30') -- now, don't any of you go making a
bid in this baby ;^)

Any idea why it sank ?

The story is that it sank due to a bad shaft seal. Today I inspected
it closely and found a slight water line that shows it sank in the
front up tot the pulpit, and the line goes back at a 45 degree angle.
It must have listed forward as water came in, and I imagine that the
water flowed back over the engine as it was towed/righted. There's
corrosion damage to all wiring and steel in the engine area, but
equipemnt higher up seems to not have seen water, which includes all
controls, panels, and electronics. It will need $5-10K in cleaning and
replacements (not including the engine). Bidding has reached $30K
which now exceeds my comfort zone. According to the salvage company
the high bidder has bought many boats from them and considers this
vessel a no-brainer (easy or him to say). I feel that with a new $20K
Cat diesel it might bring $80-90K, and the old GM might sell for
$5-10K. That puts me at a possble $25-30K profit minus epenses. Hmmm.
If nothing else, this has been an interesting excercise.

Thanks all. Jaz