Yesterday we featured a rare Chris Craft Silver Arrow that needs some restoration. One of the comments mentioned what something like this would cost to restore. It got me thinking that maybe Woody Boater could help advise folks out there considering such an endeavor on a simple boat.
WARNING! This is a way way over simplification of the subject. Why over simplify? Because if you are looking on ebay or craigslist with out a brokers help, it’s always a good way to adjust your emotions. It really doesn’t matter which boat you are referencing in this by the way. The rules apply.
So, you find a 19 ft boat on ebay.. You fall in love with the photos and its $5K. The seller says all the same stuff. No rot, needs a little work. They may not even be sure what it is. You look around and find out restored ones sell for $35K.. WOW, 10K feels like a deal. So lets add it up.. REMEMBER THIS IS ROUGH!
New bottom, $1K a foot. So that’s $19K
They ALL need some sort of frame work. Lets say not a lot, but some. Add another 4K
OK, Chrome $3K
Engine $6K unless it was rebuilt its gonna need to be rebuilt.
New trailer $5K
mmm lets add up that $10K $35K boat. That comes to $52,000
Now, it can be a tad less depending on what you want to do.. I did not add interior or gauges.. Re wire etc..
I was ball parking so you can see what are you buying. You must decide about the value after its done, not when you buy it. Then make the choice. The price of a un restored boat is more of a what is it worth to the buyer and seller to agree on. I have seen U22’s for $5K and yes Silver Arrows for $7K. The simple fast fact is that it sometimes is better to buy a total resto, cause they all need a lot. The other advice is to buy through a reliable broker that helps you not make an error. Your emotions can fool you, and there is noting like going to look at that $35K boat while also looking at 3 others in that price range to give you some reference.