Restore or scrap and buy a better one?

[richiemoe]

My grandparents gave me a 1987 Sea Ray Seville 16'. Grandpa had skin cancer and the boat sat for two years. After one year, the UV rays ripped the cover and it go water inside. It was on a trailer in their yard, drain plug was out. I could see that the floor was once patched and that patch was pulling up..... I drove the boat home from Florida to Michigan, where the boat has sat in my garage for a year. I just started on the floor and it is dry rotted in many placed, and dark, almost still damp in others, where the wood falls apart the shopvac cleans it up better than I can pull it up..... The transom seems solid, though! It has a 2002 Mercury 115hp Salt Water outboard. I climbed on the motor and bounced, the transom is solid!!! But the whole interior floor is bad. And the seats need new upholstery. Do I pull up the floor, put down 3/4' marine plywood, cover with fiberglass and carpet, and enjoy for a few years? My kids are young, fancy is not my first priority.... haha But I assume $500-$1k to have the motor looked over, $1k for floor boards/fiberglass/carpet and quite a bit for seats, but lets say we just cover them for a year. So at least $2k in repairs and LOTS of time with the floor.

After pulling up some of the floor, I got looking on fb marketplace, as now is the time for deals in Michigan, when people don't want to store stuff..... I found a 2003 Silverline 1700 (17') with a '97 Yamaha 115hp, for $5,700, garage stored. I hope to talk them down to $5k. Do I just try to sell my trailer and motor for $1,500-$2k, and see if a salvage yard will take the Sea Ray boat? It floats, the outside looks fine!

My only concern with the Silverline is that in an invoice that I got from the marina that they used, the bilge pump went bad and "40-50 gallons of water was pumped out", per technician notes. Kind of a lot, but not really a lot.... Does it just depend on how long the water was in the boat? The rest of the invoices show that they have taken great care of it! New upholstery! Everything looks clean! The pictures are sharp! The middle folding window is missing from the pictures.... The marina winterized it, so I won't be able to hear it run... The floor has been redone with boards, which looks great! I asked if they re-did the floors, and they said they just pulled up the carpet and put down boards, to look good with the new upholstery. Which, looks SHARP! They have told me the last two places that they had work done on the boat, and called to have the invoices sent to me. So I have no reason to not believe them. But it looks like they did the bilge pump themselves. Although, the inspection invoice only says water was pumped out and bilge needs to be replaced, it didn't say anything about water damage...

As i'm writing this, I found a place that will inspect it for $400. I assume this is a no brainer? I'm probably overthinking this, but this is our first "big cash purchase" since we paid off all student loans and debt, minus our home. I just want to make the right choice.... So selling the old boat, I think the new boat will cost about $3k, out of pocket. I'm going to look at the Silverline boat tonight. It has been on fb marketplace for 22 weeks, and they reduced from $7k to $5,600. $5,200 with them paying for the inspection? $5k cash?

 

[yobub]

Do you want a project or do you want to use your boat? Do you have any sentimental attachment to the Sea Ray? I used to have the 19' Seville, same generation. Nice boat for the time, but I sure wouldn't spend any time resurrecting it today, let alone spending money on it. The COVID bubble has burst with the older runabouts. They are for sale everywhere and are sitting. Unless you have some sentimental attachment, cut your losses on that one.

The Yamaha on the Silverline is probably most of the value, but I'm not sure it all totals up to the $5,600. Get that inspected to make sure it is in good shape, and make your move if you like the Silverline. 22 Weeks and going into a midwest winter and questionable economy, start low with that boat and work your way up. You will find out pretty quickly if the seller is actually selling, or if they have it listed just to see what they can get.

I was watching an older Whaler on Facebook. The guy started at $12k, then $10k, then $8500, then $6500 before it sold. His boat was customized for fishing and looked like crap. I bought another Whaler in the meantime, but almost reached back out to the guy when I saw it hit $6500 because I could have used the trailer, sold the outboard, and parted out the whaler for the $6500. These boats are sitting, you can always come up on price, and there aren't going to be getting a lot of hits on that Silverline in November.

 

[Stee6043]

If I were in your shoes I'd find a way to rid yourself of the Sea Ray before I start shopping for another boat. If the Sea Ray is rotten you may end up having to pay to have it scrapped. With that you'd want to make sure you could make enough money on the outboard sale to cover the disposal expense. Then plan for boat #2.

This may be obvious but a boat that's been for sale since May in Michigan...seems there's a good chance something is wrong with it. Early/mid-2022 was still a crazy hot time to sell a boat. But that one didn't. And generally sellers don't pay for inspections, buyers do.

Good luck!

 

[sbw1]

Buy a 13-15 foot Boston Whaler with a running outboard for 7k and let the kids go boating.

 

[Ericinmich]

I'd pass on that vintage Sea Ray, but a mid-late 70s one in similar shape I'd think about fixing up. They were more "stout" boats, thicker fiberglass, etc. All will have floor rot issues if left outside.

Growing up we had a few SRV to sevilles, and the old ones were beasts.

 

[GypsmJim]

Sevilles were SeaRay's budget boat. Not many of them survived where I live, and we have a premier SR dealer in town.

Floors are the last thing to go. Boats rot from the bottom up. It would be odd to not have the transom compromised too.

The worst thing you can do (and many people do it) is to pull carpet and add a new floor on top. It's simply sealing in all the rot to rot even more. A true restoration of a rotten boat is in the $4000 range at best.

I had a Silverline. Nice boat and it served me well. But a 2003 was near the end when the company went belly up. Not sure of the late build quality.

 

[kevin27]

Get rid of it. Sorry

 

[richiemoe]

Thank you all for the replies! My wife and I went to look at it last night, and they accepted $5k. I was pretty nervous before we looked at it, but it looks to be a pretty solid boat! Just needs some TLC... Missing some cup holders, new radio cover, etc. The flooring only looked like wood planks in the pictures, it is more of a foam type carpet padding. The fiberglass under it is solid!! The transom looked and felt solid! I like my trailer more, so I'm going to swap, then put my old boat on fb marketplace and see what it goes for, without the motor. If it doesn't sell, then i'll try to package it together....

I think if i keep pulling up the flooring, and basically cut out the bad stuff, then it'll show what the extent of the damage is. I really think the transom is good!

 

[sbw1]

Thank you all for the replies! My wife and I went to look at it last night, and they accepted $5k. I was pretty nervous before we looked at it, but it looks to be a pretty solid boat! Just needs some TLC... Missing some cup holders, new radio cover, etc. The flooring only looked like wood planks in the pictures, it is more of a foam type carpet padding. The fiberglass under it is solid!! The transom looked and felt solid! I like my trailer more, so I'm going to swap, then put my old boat on fb marketplace and see what it goes for, without the motor. If it doesn't sell, then i'll try to package it together....

I think if i keep pulling up the flooring, and basically cut out the bad stuff, then it'll show what the extent of the damage is. I really think the transom is good!

Post pix when you launch it. Also pix of the restoration.

 

[richiemoe]

I attached a picture of the Sea Ray Seville from before I towed it home from Florida. And I also attached the pictures that were on the FB marketplace listing. Before the water ices over, i'm going to swap the trailers, I bought new tires and it is a good trailer!!

 

[dvx216]

If the boat means something to you then it will be a labor of love. You'll never get your money back out of it once all the repairs are done. If you don't have that kind of connection with the boat your better off taking the money plus and the cost of labor that your going to spend on the boat and buy something else.

 

[richiemoe]

Buy a 13-15 foot Boston Whaler with a running outboard for 7k and let the kids go boating.

I just noticed that you are in West Michigan as well. I grew up in Rockford, but recently moved right next to Lincoln lake, not on it.
Boston Whaler's are nice! We finally paid off all student loans, debt, etc, besides our home we just built. So this is our first "big" cash purchase and i've been extra nervous of trying to make the right decision.... We have the money, i'm just nervous to spend it, feels weird! haha But after thinking over what it would cost to fix up the boat, and the TIME, that pushed us to just get a different one. All of the invoices show that the boat and motor have been well maintained! For the shape of the boat/motor, I think $5k is fair. The only thing that I still want to add is a wake board tower, which I think I can get a tower and bimini top for about $1,400

 

[richiemoe]

If the boat means something to you then it will be a labor of love. You'll never get your money back out of it once all the repairs are done. If you don't have that kind of connection with the boat your better off taking the money plus and the cost of labor that your going to spend on the boat and buy something else.

That is true, and another thing that I thought of... My grandparents gave it to me, but there is no emotional connection. I wanted to get it going and take them for a ride when they come up here. But being able to still use the trailer, and sell t he motor, hopefully not take the boat to the dump($$$$), we should come out ahead... For repairs, I'll assume $1k minimum to have the motor looked at and gaskets, floors, upholstery, bilge pump, hydraulic steering lines, etc. Going to add up fast, at least $3k! I've always just repaired stuff myself. But after living within our means for so long, we can guilt free, get something that is a good starter boat, and will be easy to pull with our 2012 Ford Flex. Which, it pulled the Seville through the mountains like a boss, on the drive from Florida to Michigan... Last summer the Seville took up garage space and we couldn't use it at all.... Will be nice to have a boat that I can actually resell when we upgrade. And for $2k, I can find another 115hp that runs well, worse case. I think i'm thinking all of this through correctly? LOL

 

[richiemoe]

If I were in your shoes I'd find a way to rid yourself of the Sea Ray before I start shopping for another boat. If the Sea Ray is rotten you may end up having to pay to have it scrapped. With that you'd want to make sure you could make enough money on the outboard sale to cover the disposal expense. Then plan for boat #2.

This may be obvious but a boat that's been for sale since May in Michigan...seems there's a good chance something is wrong with it. Early/mid-2022 was still a crazy hot time to sell a boat. But that one didn't. And generally sellers don't pay for inspections, buyers do.

Good luck!

I thought about that, but I want to keep the trailer on my current boat.... We offered $5k and they accepted. It started at $7k 22 weeks ago, then recently came down to $5,700. Plus it included all of the invoices. I thought about that, and that maybe we should wait, so I don't have to store it all winter... But i'm happy with the cost. I have the money for a nicer boat, I just hate spending it.... And we're finally debt free minus the house, so kind of just wanted to treat ourselves and not have another project; actually enjoy our time now!
I was going to negotiate the price down to what the inspection cost was, if they didn't go down to $5k. But they accepted, so I didn't want to push it. SUPER FRIENDLY people, the boat was kept on their dock in Spring lake by GH, and well cared for. I definitely went with my gut on this one, we'll see this Spring...
I think that that once I put on their clean looking Shorelander trailer with new lights, i can sell the Seville as a project boat for $400, since the transom is in good shape. Current project boat on FB marketplace seem to only last a few days before they disappear, and many are in BAD shape, that have been left outside in the elements, year round..... Definitely not going to get the $2k that I was hoping to, from the old trailer/boat and motor.... Although, I think the motor will go for more, by itself, than with the old boat. Maybe???

 

[km1125]

Well, I'll give you another angle to look at it from. Since you already have another "new to you" boat in the works that might work for your family's usage, this might be a totally moot point. I like the idea of listing the SeaRay on FB or CL in the current condition and either selling hull, motor, trailer separately or trying to sweeten the deal by bundling some together. You'll probably not get many bites on it this time of year up there, but it doesn't hurt to list it.

If you can not sell it, then you might consider fixing it up and selling as a working vessel. This ONLY applies if you really have the time and space to actually work on it. As many said (which I totally agree with), you're not going to make any money off of it doing that.

However, what you will gain is KNOWLEDGE and EXPERIENCE. Depending on what you have to do, THAT alone could be worth the effort. Years ago I totally restored a 25' 72 Trojan. Had a solid fiberglass hull (inboard) but the decking and flooring were issues. I did several upgrades to it (replaced clear windows with tinted tempered glass, added a potable water pump and a water heater and a dual battery system with switch), and planned to keep the boat for quite a while. Fortunately (or unfortunately) I found a great deal on a bigger newer boat right after I finished and ended up buying that. Sold the Trojan and basically broke even on what I had put into it.

However, I did learn A TON. Everything I did I had to research about the standards and the right way to do things, from the fuel systems to the electrical systems to trim tabs to waste system. It was quite the crash course in every system on the boat, and most of that knowledge carried over to every boat I've had since. Also met quite a few suppliers and folks who helped fill in the knowledge gaps when I had questions. I definitely look back on that whole experience as a positive one and well worth the effort.

But you have to have the time, and the space. Otherwise, just move on with the new boat!! Good Luck on whatever you do!

 

[km1125]

.... I think that that once I put on their clean looking Shorelander trailer with new lights, i can sell the Seville as a project boat for $400, since the transom is in good shape. ....

If that Shorelandr is clean (or even just not 'terrible') then it's probably worth a whole lot more than just the $400 alone. I'd raise your expectations a bit above what the trailer alone would go for and list it for that and also start looking for "boat salvage" places around your area. You could probably give them the hull that they'll part out and then just sell the trailer for what it's really worth.

 

[Stee6043]

I thought about that, but I want to keep the trailer on my current boat.... We offered $5k and they accepted. It started at $7k 22 weeks ago, then recently came down to $5,700. Plus it included all of the invoices. I thought about that, and that maybe we should wait, so I don't have to store it all winter... But i'm happy with the cost. I have the money for a nicer boat, I just hate spending it.... And we're finally debt free minus the house, so kind of just wanted to treat ourselves and not have another project; actually enjoy our time now!
I was going to negotiate the price down to what the inspection cost was, if they didn't go down to $5k. But they accepted, so I didn't want to push it. SUPER FRIENDLY people, the boat was kept on their dock in Spring lake by GH, and well cared for. I definitely went with my gut on this one, we'll see this Spring...
I think that that once I put on their clean looking Shorelander trailer with new lights, i can sell the Seville as a project boat for $400, since the transom is in good shape. Current project boat on FB marketplace seem to only last a few days before they disappear, and many are in BAD shape, that have been left outside in the elements, year round..... Definitely not going to get the $2k that I was hoping to, from the old trailer/boat and motor.... Although, I think the motor will go for more, by itself, than with the old boat. Maybe???

Congrats on the Silverline. Since you and your wife appear to be rockstars financially I'd suggest you squirrel away a few thousand between now and spring. If there's two things the folks here on CSR can tell you it's that 1.) all boats are projects and 2.) buying the boat is the cheapest part

 

[richiemoe]

Well, I'll give you another angle to look at it from. Since you already have another "new to you" boat in the works that might work for your family's usage, this might be a totally moot point. I like the idea of listing the SeaRay on FB or CL in the current condition and either selling hull, motor, trailer separately or trying to sweeten the deal by bundling some together. You'll probably not get many bites on it this time of year up there, but it doesn't hurt to list it.

If you can not sell it, then you might consider fixing it up and selling as a working vessel. This ONLY applies if you really have the time and space to actually work on it. As many said (which I totally agree with), you're not going to make any money off of it doing that.

However, what you will gain is KNOWLEDGE and EXPERIENCE. Depending on what you have to do, THAT alone could be worth the effort. Years ago I totally restored a 25' 72 Trojan. Had a solid fiberglass hull (inboard) but the decking and flooring were issues. I did several upgrades to it (replaced clear windows with tinted tempered glass, added a potable water pump and a water heater and a dual battery system with switch), and planned to keep the boat for quite a while. Fortunately (or unfortunately) I found a great deal on a bigger newer boat right after I finished and ended up buying that. Sold the Trojan and basically broke even on what I had put into it.

However, I did learn A TON. Everything I did I had to research about the standards and the right way to do things, from the fuel systems to the electrical systems to trim tabs to waste system. It was quite the crash course in every system on the boat, and most of that knowledge carried over to every boat I've had since. Also met quite a few suppliers and folks who helped fill in the knowledge gaps when I had questions. I definitely look back on that whole experience as a positive one and well worth the effort.

But you have to have the time, and the space. Otherwise, just move on with the new boat!! Good Luck on whatever you do!

If that Shorelandr is clean (or even just not 'terrible') then it's probably worth a whole lot more than just the $400 alone. I'd raise your expectations a bit above what the trailer alone would go for and list it for that and also start looking for "boat salvage" places around your area. You could probably give them the hull that they'll part out and then just sell the trailer for what it's really worth.

Good to know on the trailer, thank you! When I looked online, they were going pretty cheap. But they were a bit older... For the Silverline, they have a title for that, but not the trailer... Which, I've had to get a title for a trailer i've bought before, not a big deal.

Regarding fixing up the old Seville, that was my intension from the beginning, was to learn how to fix it up. There are an insane amount of videos on how to do this. I felt pretty confident, and I still think I could. But with a lack of time, that is where I would have trouble. I mean, if it doesn't sell as is, I could finish pulling up the floor, throw down some 3/4" marine grade plywood, fiberglass it, and quick carpet it.... As long as the transom is good, it'll last for a bit, as long as it stays out of the elements with the next owner... And i'd be honest about it! I called a few salvage yards and they are full or only take inboards... I'm still waiting to hear back on one, though...

I honestly love fixing things up!! So I was thinking this project would be fun. I was wrong, it seems more like something hanging over my shoulders, and I want my garage space back.... With the new boat, I might be able to find a friends barn with room, or buy a $1,400 metal carport to put it under and cover... That is pretty cool that you were able to learn how to do all of that!! And that is many times where the deals are, when something that could be simple needs to be done, but the owner doesn't know how, or want to fix it themselves....

 

[GypsmJim]

Your new boat looks like it was well cared for. But it sure doesn't look like a Silverline. They sure changed designs in the later years.

Mine was my second boat, and my first fiberglass model...

 

[km1125]

... For the Silverline, they have a title for that, but not the trailer... Which, I've had to get a title for a trailer i've bought before, not a big deal. ...

In Michigan you typically don't have to have a title for a trailer, just a registration.