You seen this LRC rebuild?

[Pete]

As a fellow LRC owner it pains me to say, the best economic strategy for this boat is to part it out. I have owned a 48 LRC for six years, it was among the finest examples of this model when I bought it, I am retired and work on it at least half of my days and am proud of the results. My maintenance versus improvement hours are probably 70% maintenance on a boat that dock walkers think is 10 years old. My opinion is this boat is a lost cause. The cost to restore this LRC probably exceeds by a good amount the cost to build new today. There is a point of no return for abused boats, especially larger ones. This boat is well past that point. Sad situation. That's my opinion.

Pete

[Passages]

How would you part out a big ole' Hatteras. Sure the hardware, mechanicals & controls have transferable value, but not much else.

I bet $50k would be as much as you could pull out of a boat like that. Is that a good prospect - I'm not convinced.

[Boatsb]

Been there before and on smaller vessels the parting out is better. How many of us have seen over 50 foot vessels being restored for hundreds of thousands of dollars for the loving owner.

Now I am surprised that no one here figured out the key to this.

Getting the vessel up to sale able levels to sell to a customer who will do the restoration. Who would want to buy a boat someone else chose all the colors and options on if they could do it themselves.

If the yard or restorer can sell it on that basis it's a win win win win win.

[Pete]

Appears to me you have about three options. Sell it as is and get maybe $75K if you are lucky, part it out and get maybe $100K to $125K for the engines, hull, hardware, A/C components, electrical components, mechanical components, etc., or spend a million to restore a boat with a final market value of less than half that. Ugly choices!!

In my years I have never seen a neglected large boat restored for a profit. If you are a private owner who is in love with your boat, enjoy working on it, and refuse to add up all the bills, that is a different story. I count myself in this category.

Pete