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abear

Opinions on value of restored 1990 F3

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abear

I have another thread about the restoration. Pics will follow in that thread, but I am getting very close to spending on this project what other restored inboard ski boats are selling for in my area. I know it is a labor of love, and after restoring a dozen cars over the years I know you most of the time don't get your money back. I want to get a general idea of potential value( part of this question is that I need to insure the boat tomorrow and I might need to negotiate a stated value). Here is an overview of work in progress:

Engine and sub systems:

Rebuilt 5.7 engine

New intake

New holley 600cfm carb

New flame arrestor

New fuel pump

Rebuilt raw water pump

New manifolds and risers

All new cooling hoses

New fuel lines

New fuel sending unit

New starter

New alternator

New distributor

New wires

New coil

New belts

Engine is color coordinated with interior with powder coated parts

Hull:

New floors glassed in

New carpet

New interior including wood, foam, and vinyl (yellow and white- best materials available no expense spared)

New clean bilge paint

New Bilge pump

New Blower

Gel 8 out of 10 with fresh wet sand and compound

New stereo (nothing fancy spent 1000.00 Clarion deck 4 JBL speakers and a sub)

New wiring throughout including engine harness

New gauges

New LED nav lights

Trailer:

New "mag" wheels

New bearings

New Bunks

New jack and pivot wheel

Blasted and painted

New LED lighting

I am very sure I am missing some things, and I might not get a good ROI. I have seen a few "restored" MC and CC in the area and on Craigslist in the 7-8 thousand range. I have about 6K in the restoration now. I am buying only 100% top quality parts, and the workmanship is 100% (Im very picky) I know something is only worth what a buyer will pay, but, do you see a 10 point 1990 'Bu bringing? 10k? That is my magic number.

Thanks,

Steve

Edited by abear

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JasonK

I haven't boat shopped for a while but I think you could get close. Might take time to find the right buyer though.

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shawndoggy

$10K for a 25 year old boat with wood stringers (which you don't mention replacing) on a little known model (outside of these forums)? May be a LONG wait for the right buyer. I'd guess that that boat fetches $6-8K.

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maroon88iroc

I had completely restored 1990 Malibu Euro F3. Here are my thoughts.

I was shopping for an entry level wakeboarding boat. I really wanted a mid 90's Malibu or master craft but they were just out of my price range in the 10K ballpark. I found the 1990 Malibu on craigslist for $9500 it looked mint. Interior completely redone with a more modern look, outside & hull of the boat looked fantastic with only 1 issue.. a half dollar sized crack in the Gel coat below the rub rail on the rear of the boat. Most of the late 80's early 90's boats I was looking at people were asking 5-7k obo. I told the guy I really wanted the boat but I was on a budget and couldn't spend more than what the same style/type of boat was selling for. I made him an offer of $6500 cash, he quickly turned it away. I let it go and checked back in with him every week. About 3 weeks later he said come and get the boat (this was after school started back so not many boat buyers out there). The boat ended up being fantastic for me. It had a tower & bimini already but no tower speakers or wakeboard racks. I added kicker kmt6 tower speakers with an amp and 1 ebay wakeboard rack, did a lot of maintenance on the boat. replaced the fuel pump, plugs & plug wires, changed over to HEI ignition with billet distributor, redid the teak platform, replaced the bilge pump. I ended up selling the boat for 7500 last year after I bought my '98 sunsetter. I actually listed it for 8500 and had a little interest in it. Ended up selling it to the third person that came and looked at it which was about a month and a half after I listed it. I bought my sunsetter for $12K so not much different in price when you consider how much better of a boat the 98 sunsetter is. The issue is your market is going to be people looking to get into boating and have a strict budget of 8 or 9k b/c that is just short of getting a much newer more capable boat but just enough to get a much nicer example of an older boat that usually sells for 6-7k. I could be wrong b/c I am a smart shopper & I don't just buy whatever I see that I like. there are a lot of people out there that go buy things without really looking at comparables so you will have great luck with that type of buyer especially if you have a 10/10 example for sale.

Edited by maroon88iroc

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abear

Well, Thanks for the advise, I am not doing this to sell it, I just wanted opinions, hoping my work will be worth something when done. I almost passed on it and bought a boat ready for the water, but I could not find anything I liked.

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maroon88iroc

Well, Thanks for the advise, I am not doing this to sell it, I just wanted opinions, hoping my work will be worth something when done. I almost passed on it and bought a boat ready for the water, but I could not find anything I liked.

I understand you aren't trying to sell it but things are only worth what someone will pay for them..

if its for insurance purposes I would insure it for whatever it would cost to get a boat with comparable features.

Edited by maroon88iroc

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abear

I understand you aren't trying to sell it but things are only worth what someone will pay for them..

if its for insurance purposes I would insure it for whatever it would cost to get a boat with comparable features.

The question was for me, and my curiosity, and for insurance. The Bu' is now legal and insured. We are USAA customers, and they don't directly write boat insurance, they partner with Progressive. We opted for 300k liability, 250.00 deductible (the lowest available) and an agreed replacement value of 12,000.00 They would do this amount over book value as long as I could provide receipts of the restoration (obviously I can).

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