Off all the "doesn't make economic sense" decisions that I have ever
made about a boat,
I just made the granddaddy of all.

Our beloved boat is going under the knife for an extreme makeover.
Bottom will be completely stripped, barrier coated, and bottom painted.
Hull and house will be repainted.
Two new scuppers cut in. A bow thruster installed. Cabin windows
rebedded, and some water damaged teak veneer replaced. Teak and holly
soles will be refinished in all three cabins and the head. All exterior
teak will be taken down to bare wood and an initial "soak coat" of
varnish applied. (I'll have to build up the rest of the varnish this
summer).

Our expense for this project will be close to 60 percent of the boat's
current value, and it will probably only increase that value by 20-25%.
Like owning a boat to begin with, not such an astute financial move.

However......replacing our boat with anything we would consider a
serious upgrade would cost so much that the *sales tax* (for which one
has nothing to show) on such a purchase would cost more than making our
24 year old boat cosmetically close to "new" again, and with the new
engine from two years ago in place and running perfectly we will have a
nearly new boat when finished.

(Insert graphic image of a flock of winged G-notes taking flight and
disappearing over the horizon.) :-)

Biggest downside is the "10-week" estimate of the time required to
finish the work. Spring will be well underway before we get our boat
back, but she will be a headturner, for sure.

wrote:

Biggest downside is the "10-week" estimate of the time required to
finish the work. Spring will be well underway before we get our boat
back, but she will be a headturner, for sure.

Sounds like a good plan except you clearly need a second
boat for backup or a "loaner" for the duration of the work.
Can't you arrange a long term test or something?

-rick-

wrote:
Off all the "doesn't make economic sense" decisions that I have ever
made about a boat,
I just made the granddaddy of all.

Our beloved boat is going under the knife for an extreme makeover.
Bottom will be completely stripped, barrier coated, and bottom painted.
Hull and house will be repainted.
Two new scuppers cut in. A bow thruster installed. Cabin windows
rebedded, and some water damaged teak veneer replaced. Teak and holly
soles will be refinished in all three cabins and the head. All exterior
teak will be taken down to bare wood and an initial "soak coat" of
varnish applied. (I'll have to build up the rest of the varnish this
summer).

Our expense for this project will be close to 60 percent of the boat's
current value, and it will probably only increase that value by 20-25%.
Like owning a boat to begin with, not such an astute financial move.

However......replacing our boat with anything we would consider a
serious upgrade would cost so much that the *sales tax* (for which one
has nothing to show) on such a purchase would cost more than making our
24 year old boat cosmetically close to "new" again, and with the new
engine from two years ago in place and running perfectly we will have a
nearly new boat when finished.

(Insert graphic image of a flock of winged G-notes taking flight and
disappearing over the horizon.) :-)

Biggest downside is the "10-week" estimate of the time required to
finish the work. Spring will be well underway before we get our boat
back, but she will be a headturner, for sure.

Chuck,
I have to disagree with you, it does make complete economic sense, as
long as you plan on keeping the boat and do not plan on selling the boat
and realizing an increase in your sales price. The cost of the work you
are doing on your "old" boat, probably is less than the depreciation you
would take in the first year of a new boat.

And, she is like a member of the family, you can just "put her down"
because she is old.

--
Reggie
************************************************** *************
That's my story and I am sticking to it.

************************************************** *************

Reggie Smithers wrote:


Chuck,
I have to disagree with you, it does make complete economic sense, as
long as you plan on keeping the boat and do not plan on selling the boat
and realizing an increase in your sales price. The cost of the work you
are doing on your "old" boat, probably is less than the depreciation you
would take in the first year of a new boat.

And, she is like a member of the family, you can just "put her down"
because she is old.

************************************************** ************

That was sort of our rationale for taking the plunge on the total
facelift. While there are a couple of things we would change about the
boat if we could- I haven't seen a brand new boat that didn't have....
a couple of things we would change if we could. When I compare the hole
in the wallet for this project vs. the price of a new or near new 36-40
foot tug or trawler...(and that's after finding one that somebody
didn't stick a lot of excess HP into).... there's enough left over to
buy something that will actually appreciate and/or spin off some cash.

She goes into the yard this weekend. I'll have to spruce up a bit
myself, so I won't look like I must be the hired deckhand, or maybe
stole the boat, when we get her back. :-)

wrote in message
ups.com...
Off all the "doesn't make economic sense" decisions that I have ever
made about a boat,
I just made the granddaddy of all.

Our beloved boat is going under the knife for an extreme makeover.
Bottom will be completely stripped, barrier coated, and bottom painted.
Hull and house will be repainted.
Two new scuppers cut in. A bow thruster installed. Cabin windows
rebedded, and some water damaged teak veneer replaced. Teak and holly
soles will be refinished in all three cabins and the head. All exterior
teak will be taken down to bare wood and an initial "soak coat" of
varnish applied. (I'll have to build up the rest of the varnish this
summer).

Our expense for this project will be close to 60 percent of the boat's
current value, and it will probably only increase that value by 20-25%.
Like owning a boat to begin with, not such an astute financial move.

However......replacing our boat with anything we would consider a
serious upgrade would cost so much that the *sales tax* (for which one
has nothing to show) on such a purchase would cost more than making our
24 year old boat cosmetically close to "new" again, and with the new
engine from two years ago in place and running perfectly we will have a
nearly new boat when finished.

(Insert graphic image of a flock of winged G-notes taking flight and
disappearing over the horizon.) :-)

Biggest downside is the "10-week" estimate of the time required to
finish the work. Spring will be well underway before we get our boat
back, but she will be a headturner, for sure.


Good luck with the project Chuck. You are in the fortunate position of
being able to "test ride" boats with your position and I am sure hooking up
with a boat during those 10 weeks (most likely 15) will not be a problem.

Post some pictures of the progress, including before and after pics.

Harry Krause wrote:

Hope Chuckster doesn't miss out on the one day of bright warm sunny
weather each year up there.

Don't tell any one but it's been pretty nice all week. I'll
be on the boat this weekend.

-rick-

"-rick-" wrote in message
...
Harry Krause wrote:

Hope Chuckster doesn't miss out on the one day of bright warm sunny
weather each year up there.

Don't tell any one but it's been pretty nice all week. I'll be on the
boat this weekend.

-rick-

When it is sunny and clear in the Northwet, it is as beautiful as anyplace
in the world. but weather can change. I raced the car at Kent, WA one
time. Maybe 200 mile visibility, and 70's all weekend. Absolutely
gorgeous. 2 weeks later, did not make the race, but they had 5" of water on
the track, as could not run off fast enough. And there was a small canyon
next to the track.