Notices
The Boating Forum

Valuing a project 300 Marlin

Old 10-13-2020, 07:22 AM
  #1  
Admirals Club Admiral's Club Member
Thread Starter
 
Join Date: Mar 2013
Location: Charleston, SC
Posts: 394
Received 75 Likes on 48 Posts
Default Valuing a project 300 Marlin

A little background first. This boat belongs to a relative of a good friend, I have seen it before as it's been parked out behind their house unused and uncovered for the past 4 years but I haven't crawled all over it. My friend took a look at it this past weekend and gave me a preliminary report. So it's a 2001 Marlin, original OX66 250's, sitting on a triple axle trailer. The motors don't run, the generator is there but also doesn't run, let's assume the fuel tank needs to be replaced. None of that is overly concerning as I would be repowering anyway and a tank that old might be on its last legs already on a boat in good condition. All of the cushions and bolsters on the outside are shot and will need to be replaced but the interior berth cushions are okay. The cabin needs a VERY deep clean as it's been closed off for 4 years and is very musty. All of the appliances are there, but until proven otherwise let's assume those need replacing. All the thru hulls and hoses to wherever they go would need to be replaced.

Stomping all over the deck, my friend wasn't able to identify any soft spots. On the transom, there is only one small noticeable spot of blistering, but the cap is bulged a little and would need to be repaired. The transom as a whole seems to be leaning towards repair and not a full replacement, but that could change once I get my own eyes on it. The trailer frame and axles look to be in good shape but it will need 6 new tires before it moves. So overall, a project that at first glance needs a very deep cleaning, a repower, and most of everything under the deck replaced with a little fiberglass work on the transom. Assuming my friends report is accurate, what do you think she'd be worth?
Old 10-13-2020, 07:38 AM
  #2  
Senior Member
 
Join Date: Nov 2010
Location: Medina/Catawba Is Ohio
Posts: 1,030
Received 114 Likes on 95 Posts
Default

$ 0 it seems like a lot of work and $$$$$ what will it be worth when done.
Old 10-13-2020, 07:39 AM
  #3  
Admirals Club Admiral's Club Member
 
Join Date: Nov 2012
Location: Martin County Florida formerly Palm Beach County
Posts: 12,016
Received 2,735 Likes on 1,534 Posts
Default

dont forget wiring. You are buying a hull and possibly a useable trailer.

Maybe 1k cause its your friend? Or maybe he says zero cause your his friend.
Old 10-13-2020, 07:44 AM
  #4  
Admirals Club Admiral's Club Member
Thread Starter
 
Join Date: Mar 2013
Location: Charleston, SC
Posts: 394
Received 75 Likes on 48 Posts
Default

Originally Posted by wajski View Post
$ 0 it seems like a lot of work and $$$$$ what will it be worth when done.
That very well may be. It will take a lot of work but I don’t mind putting in the hours. What will it be worth? Well, this vintage in good condition with the original OX66’s are listed anywhere from $45k up to $60k. Repowered ones are $80k and up. Part of that might be the current market, but it will be far from worthless.
Likes:
Old 10-13-2020, 07:46 AM
  #5  
Admirals Club Admiral's Club Member
Thread Starter
 
Join Date: Mar 2013
Location: Charleston, SC
Posts: 394
Received 75 Likes on 48 Posts
Default

Originally Posted by WPBTH View Post

Maybe 1k cause its your friend? Or maybe he says zero cause your his friend.
That would be nice. It’s not my friend, it’s his relative that is the owner. My friend said if it was his he’d just let me have it rather than let it rot to the point where it couldn’t be brought back.
Old 10-13-2020, 08:15 AM
  #6  
Senior Member
 
Join Date: Nov 2004
Location: Rudee Inlet
Posts: 1,744
Likes: 0
Received 194 Likes on 109 Posts
Default

I’d post this over at GreatGrady.com, lots of GW info over there. Balsa cored sides could be an issue.
Old 10-13-2020, 08:19 AM
  #7  
Admirals Club Admiral's Club Member
 
Join Date: Mar 2010
Location: Daytona bch
Posts: 709
Received 56 Likes on 23 Posts
Default

If it were cleaned up, the motors ran, the trailer rolled and you had a buyer I’d say it would sell for 35k. As stated I’d say it’s “worth” 10k if it’s a project you can handle on your own. If you’re paying someone to do all the work you’ll be into it for far more than it will be worth.

Now if you get it for nothing or a couple grand and tear it down before investing a bunch of money I’d say you can’t lose.

could get away with new power, new wires, a deep clean and some good used electronics.

nick
Old 10-13-2020, 08:48 AM
  #8  
Admirals Club Admiral's Club Member
Thread Starter
 
Join Date: Mar 2013
Location: Charleston, SC
Posts: 394
Received 75 Likes on 48 Posts
Default

Originally Posted by NikM820 View Post
If it were cleaned up, the motors ran, the trailer rolled and you had a buyer I’d say it would sell for 35k. As stated I’d say it’s “worth” 10k if it’s a project you can handle on your own. If you’re paying someone to do all the work you’ll be into it for far more than it will be worth.
Sorry, should have mentioned that. I would be doing all of the work myself except maybe the fiberglass work. I don't know how to do that, but I'm looking to learn. I wouldn't be doing this project to flip it, a 300 is on the short list for our next boat so if I went through with it this would be our family boat until the kids get a little older and we run out of room. With two small kids, this or something like a Pursuit 3070 would be an ideal fit for the next few years.
Old 10-13-2020, 09:10 AM
  #9  
Senior Member
 
Join Date: Nov 2010
Location: Medina/Catawba Is Ohio
Posts: 1,030
Received 114 Likes on 95 Posts
Default

scoob not meaning to say it's worthless I just had my boat converted from I/O to OB to buy a boat like I have would be $250k or 5 times what I put into it.
Old 10-13-2020, 09:20 AM
  #10  
Senior Member
 
Join Date: May 2017
Location: Weeki Wachee FL
Posts: 294
Received 177 Likes on 87 Posts
Default

Having just gone through this process myself I would say go for it if you can get the hull cheap and you enjoy doing this type of work yourself. Doing most all of the work yourself you should still plan on spending 75K-100K, your repower alone is going to push 50K unless you go with used power.
Old 10-13-2020, 09:25 AM
  #11  
Senior Member
 
Join Date: Aug 2020
Posts: 245
Received 169 Likes on 81 Posts
Default

Originally Posted by scoob View Post
Sorry, should have mentioned that. I would be doing all of the work myself except maybe the fiberglass work. I don't know how to do that, but I'm looking to learn. I wouldn't be doing this project to flip it, a 300 is on the short list for our next boat so if I went through with it this would be our family boat until the kids get a little older and we run out of room. With two small kids, this or something like a Pursuit 3070 would be an ideal fit for the next few years.
If it only needs minor cosmetic fiberglass and gel coat work, that is a good place to start learning, since if you mess up, you aren't sinking and you can take a few tries to get it "looking good."

I would say pass on it if you find it needs any structural fiberglass work. Fiberglassing is expensive, messy, easy to make a mistake, and time consuming to the point of questioning your life choices. Only get into fiberglass if you want your boat to be your hobby for several months before you can even start thinking about the rest of it (wiring, power, etc). Some people find this work fun and rewarding, but I think a majority of them it's a second or third boat they work on when they can't get on the water.

You might want to pay for a survey even if it's free to find out if there are any serious structural issues before you go all in.
Likes:
Old 10-13-2020, 09:36 AM
  #12  
Admirals Club Admiral's Club Member
Thread Starter
 
Join Date: Mar 2013
Location: Charleston, SC
Posts: 394
Received 75 Likes on 48 Posts
Default

Originally Posted by Muchalucka View Post

You might want to pay for a survey even if it's free to find out if there are any serious structural issues before you go all in.
Good point.
Old 10-13-2020, 09:43 AM
  #13  
Admirals Club Admiral's Club Member
 
Join Date: Sep 2011
Location: Clayton/NC Coast
Posts: 3,062
Received 231 Likes on 123 Posts
Default

The first and probably the most important thing you could do would be to hire a surveyor and have them go over the boat inside and out. I wouldn't worry about a mechanical survey since you plan to re-power but I would want to know the condition of the hull before making a commitment to purchase. Once you know the hull condition then proceed from there. It is a twenty year old boat and it is going to have problems. Could be bad but then again maybe not.
Likes:
Old 10-13-2020, 10:24 AM
  #14  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Sep 2002
Location: Seaside NJ
Posts: 2,243
Received 513 Likes on 240 Posts
Default

Originally Posted by other line View Post
I’d post this over at GreatGrady.com, lots of GW info over there. Balsa cored sides could be an issue.
Regardless of price, if you're seriously going to take in this boat get a survey done for the reason quoted above.

For your intended usage however, she should do well for you. Spent many hrs on my buddy's 30 Grady
Old 10-13-2020, 04:04 PM
  #15  
Senior MemberCaptains Club Member
 
Join Date: Jun 2005
Location: Winter Garden, FL/ Tiger, GA/ Ft. Pierce, FL
Posts: 3,061
Received 541 Likes on 289 Posts
Default

I am 2 weeks in On a 03 GW 330 express. Here’s the budget 45 k for 300 yammies with props. 10 k for a generator. I dodged the bullet on this as the one in boat was very clean and only had 7 hours on it . I sprayed some start fluid in it and it lit right off. Brother cleaned carb and it runs pretty good.
mall the upholstery on the deck and cockpit with the bolsters was 1500.
wife is doing the cabin upholstery I spent 500. On material for that.
ekectronics I could have gone cheaper so figure your budget. I spent close to 20 k on them . 2 garmin 8612’s auto pilot, 265lm transducer, Garmin 24 fantom Radar, fusion av/650 fusion speakers in cockpit and e box infinity in the cabin. 2 amps.
another few grand on miscellaneous stuff.
I figured new spray curtains which I dodged the bullet on also the ones on the boat had been stored inside and never used. 2300. Is what I was quoted for them.
I have done a few so trust me whatever you budget you will go over.
Once completed I will be under 150 k and it’s a beautiful 1 owner kept under cover and should look new once I’m done with it.

Old 10-13-2020, 04:29 PM
  #16  
Junior Member
 
Join Date: Oct 2020
Posts: 4
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by scoob View Post

...... On the transom, there is only one small noticeable spot of blistering, but the cap is bulged a little and would need to be repaired. The transom as a whole seems to be leaning towards repair and not a full replacement, but that could change once I get my own eyes on it.....
I'm ASSUMING this boat has wood in the transom, although I may be wrong. I've done rebuilds/transom replacement on 4 boats now (yeah, I'm one of those idiots that actually enjoys working with fiberglass) and can tell you in no uncertain terms that if there's any bulging anywhere on the transom it's because something is rotten underneath. And no, you can't just repair that one area, if the transom got wet enough to rot ANYWHERE the moisture will wick throughout the entire transom. Also, be VERY wary of that blistering, something is going on underneath to cause that.

Last edited by groundloop; 10-13-2020 at 10:25 PM.
Old 10-13-2020, 07:02 PM
  #17  
Senior Member
 
Join Date: Jun 2012
Location: Tacoma, WA
Posts: 283
Likes: 0
Received 29 Likes on 16 Posts
Default

I would bet transom is wet and hull sides are wet and delaminated. It is a very common issue with that vintage of Grady Whites. But if you have the skill set then you could put in some sweat equity and have a sweet rig for a reasonable price.
Old 10-13-2020, 08:20 PM
  #18  
Senior Member
 
Join Date: Dec 2016
Location: Apollo Beach, FL
Posts: 1,466
Received 768 Likes on 344 Posts
Default

I think a lot of people buy “project” boats similar to the condition OP describes and make huge mistakes.

The problem with a boat in condition like this is the seller already has a false sense of how “decent” the boat currently is and the buyer convinces him/her-self that “it’s just cosmetic” and can be a “deal” with a small amount of cosmetic/surface work. In reality there are likely to be structural issues and once you start peeling the layers of that onion, you might as well strip it to the bones and start over. The seller doesn’t think he’s selling a hull/project but rather a functional boat, when that’s not really the case.

OP I could be totally wrong on this particular boat but if you plan on spending 15 or 20k on it as I suspect the seller will want at a minimum, you need to be damn sure about what you’re getting in to, so definitely get a survey. It’s incredibly cheap in the grand scheme of things.

All that being said, if I were you I’d try to get it for 15k. You can sell the motors and gen for parts (5-7k) and basically have it for the value of the trailer plus about 2k for the hull. Based on the criteria you Laid out, the deck and transom will need to be removed, tank replaced, recored and closed up. Full rewire and re-plumb. If you find issues with the stringers once the deck is off, you’ll be rebuilding the whole boat.

More often than not when buying a “project” boat you’re better off buying the one with a tree growing in it than one that looks like a running boat from 500 feet away.
Old 10-14-2020, 05:29 AM
  #19  
Admirals Club Admiral's Club Member
Thread Starter
 
Join Date: Mar 2013
Location: Charleston, SC
Posts: 394
Received 75 Likes on 48 Posts
Default

Originally Posted by Burgmane View Post

OP I could be totally wrong on this particular boat but if you plan on spending 15 or 20k on it as I suspect the seller will want at a minimum.
Ding ding, we have a winner. Drove over to see it and the guy wanted $28k. Insane given the condition it was in. The deck was solid as far as I could tell. Tapping all over the transom, it sounded solid other than around the two spots previously noted. But nah, he thinks he has a running boat. I will say these Marlins have a great layout for my needs. Makes me more excited to try and find one, just not this one. Appreciate everyone’s input.
Old 10-14-2020, 06:44 AM
  #20  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Sep 2002
Location: Seaside NJ
Posts: 2,243
Received 513 Likes on 240 Posts
Default

Smart move
Likes:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.