Yesterday in the comment section “Tom” asked how much all the work on a boat “like” WECATCHEM cost to restore. To be honest, I don’t know. I know, I know, how do you not know how much you are spending preserving a classic boat? Well, I know about my specific boat. But not any others. Each boat is as different as you and me.
I have an “agreed on price” with all the folks doing the work. Why? And How?
Why I have an agreed on price is because I have been burned badly. What should have been a $30K – $40K project ended up costing me $125K when I started this passion. Yes, its embarrassing, and sadly I am not alone. It almost turned me off the entire passion, like Tom correctly pointed out. But instead I focused that anger into making Woody Boater, so I could learn and others as well. I am not alone in my financial mistakes. I and others here swore to change that for everyone.
How? The chrome, the gauges, engine, interior, lettering, all of it. in each case I had to supply information, photos and details to get a price. A fair price for me, and the place doing the work. I only deal with people that are up front and honest about pricing. That way there are no surprises. I am also believer in being paid for what you do. It’s how folks stay in business, and we need great suppliers to stay in business. It’s even why the Hagerty Price Guide, which I love BTW, has wide ranges on pricing. Each boat is different. Who did the work, how much passion was spent on it and so on. What are the standards used. Everyone thinks there boats are perfect. This all goes back to what I have been saying for years. Each boat has its own DNA. A unique Soul. A work of art. Is there a rule out there that says all art on a 24 X 36 canvas is $300? No. It’s what is on the canvas that is important and valued. A 21 Cobra is far more costly to restore and own then a 21 utility. A 19 foot 1930’s runabout may cost less than a barrel back to restore? Sure, wood is wood, labor is labor, but the time to restore a barrel back is more. Which I might add is why after the war, they may have stopped making them.
OK, so Tom, what did I spend On WECATCHEM? I am all in with this passion and the boat. All my boats. I am not in the resale business, I am owning my boats like art. And I use the crap out of them. I get my moneys worth for sure. That boat deserves every penny sunk into her. And the one family that owned it for it’s life did the same. It’s no secret that 25 Sportsman are insane expensive to restore. To do one right can reach in the $200K range. Not your under $5K boat for sure. And some 25 Sportsman are less, and some more. Hell, you can spend a fortune on a Scripps rebuild alone. I will add that they are worth every penny. The joy they bring is worth more than some sports car, or any of the other countless things in your life that you spend money on!