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1997 53' Viking Project Boat...Help with Value for Offer??

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1997 53' Viking Project Boat...Help with Value for Offer??

Old 08-16-2017, 12:18 AM
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Default 1997 53' Viking Project Boat...Help with Value for Offer??

This boat is in my local marina, sitting there for 7 years. Up top the boat is nice, the engine room has a complex story.

Powered by Twin MAN V12's 2842LE404 1000HP 2600 hours total time

7 years ago the port motor suffered a failure that resulted in the motor being removed from the boat and rebuilt. The rebuild didn't happen for five years after the original problem.

When the boat was put back in the water the starboard motor would not fire. After some injector work the owner gave up for a while. Last year a MAN tech came out for more investigation of the starboard motor. Internal corrosion has caused valve seat and liner problems. MAN says the engine needs to be rebuilt. Cost in the boat is 80k

Keep in mind, the port motor was rebuilt 3 years ago and that one has been sitting also.

So, Port motor is rebuilt, zero hours other than initial testing, then sat for 3 years. Owner says he has started it within the past month but no sea trial. I am worried this motor may have issues as well.

Starboard motor needs rebuild.

They both look like they need all hoses replaced and because of the time going by...a 1000 hour service.

Other factors...4 AC units, salt and fresh water pumps, seals, generator and all other components sitting for over 7 years and the problems that are possible when all these parts start moving again.

Like i said, the top side and interior show well, other than it still having tube TV's

This isn't really the boat i want but at the right price and in my back yard it will do for a while until a Hatteras or Ocean 50 to 56 with Cat C18's comes around at a decent price.

So, i could use some help from guys that already own these larger more complex boats on what i am getting into and a proper value to put on the boat.

I was thinking, make an offer contingent on a survey of the boat and a sea trial with a MAN tech of the rebuilt port motor....the $ number is the big question.
Old 08-16-2017, 04:16 AM
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I would think it's worth somewhere in the low to mid $100K range
Old 08-16-2017, 04:42 AM
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What it worth and what the guy will take should be night and day in this case. If you gotta put 80k into the rebuild I would take that into heavy consideration and offer in the 30's or 40's to start. Try to find out how much he owes the yard. That's a good indicator of where the owner is financially.
Old 08-16-2017, 05:01 AM
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A 1997 53' Viking Sportfish can be purchased for anywhere from $160k to $220k ... depending on the usuals for a 20 year old boat ... with 80k to start in repairs, plus 7 years of inactivity issues ....the buy in is tops 50k in my opinion. This size 20 year old boat has upkeep costs disproportionate with total value ..... ie. cheap to buy, relatively expensive to maintain .... The real issue is the sellers mindset on what the value of the vessel is at the moment .... many have a hard time coming to grips with such a low number (in their mind) .....
Old 08-16-2017, 07:40 AM
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Originally Posted by LongIslandFisherman View Post
A 1997 53' Viking Sportfish can be purchased for anywhere from $160k to $220k ... depending on the usuals for a 20 year old boat ... with 80k to start in repairs, plus 7 years of inactivity issues ....the buy in is tops 50k in my opinion. This size 20 year old boat has upkeep costs disproportionate with total value ..... ie. cheap to buy, relatively expensive to maintain .... The real issue is the sellers mindset on what the value of the vessel is at the moment .... many have a hard time coming to grips with such a low number (in their mind) .....
I agree with you...I think that's part of the reason it sat so long. You spend 500k on a boat several years ago not realizing how much it cost to maintain or how much a thrown rod cost to fix. I think the seller finally realizes it's time to just let it go. Cost 400 bucks a month just to keep it on land in that marina.
Old 08-16-2017, 07:45 AM
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The value of this type of boat seems to be all over the place...a decent condition and hour boat can be had for 200k...well equipped for fishing...upgrades through the years...super clean...I see them advertised in the 400k range. Don't know what those higher end boats actually sell for
Old 08-16-2017, 07:50 AM
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Where are you guys seeing 1997 53 Vikings selling for $160K? I am looking at 43 Expresses and 47 Convertibles in the same time period and they are not even selling for that.

They are asking $175K for the boat and acknowledge in the listing that the starboard motor has issues. There is another 1997 listed for $240K. It appears that the seller has priced the boat to addess the motor issue. As someone said above to offer 30 to 40K, that would be an insulting offer. I would start at $100K with your anticipated rebuild cost of $80K. The only real way to develop a value on the boat is to look at the boats that sold over the past year or so. I would ask the broker to provide you with this info, this will give you the real selling prices, not what the cheap internet world thinks that they are worth. Once you have comps you can then make an accurate assesmnt to the what the real value is.
Old 08-16-2017, 08:18 AM
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Originally Posted by WavRidr359 View Post
Where are you guys seeing 1997 53 Vikings selling for $160K? I am looking at 43 Expresses and 47 Convertibles in the same time period and they are not even selling for that.

They are asking $175K for the boat and acknowledge in the listing that the starboard motor has issues. There is another 1997 listed for $240K. It appears that the seller has priced the boat to addess the motor issue. As someone said above to offer 30 to 40K, that would be an insulting offer. I would start at $100K with your anticipated rebuild cost of $80K. The only real way to develop a value on the boat is to look at the boats that sold over the past year or so. I would ask the broker to provide you with this info, this will give you the real selling prices, not what the cheap internet world thinks that they are worth. Once you have comps you can then make an accurate assesmnt to the what the real value is.
That's the boat...starboard motor is not questionable...it need's an inframe...port motor is "questionable"
Old 08-16-2017, 08:25 AM
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Originally Posted by punisherzx12r View Post
That's the boat...starboard motor is not questionable...it need's an inframe...port motor is "questionable"
You really need to be able to verify the condition of the motor that was rebuilt. All of a sudden if you need to in frames at $80K a piece that is a killer. Is the starboard engine completely toast? Can you get your Man mechanic to get it running just so you could get an actual sea trial on the boat to determine condition of the rebuilt motor? Can he pull the heads and check to valves? Compression test and scope the cylinders?
Old 08-16-2017, 08:51 AM
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Originally Posted by WavRidr359 View Post
You really need to be able to verify the condition of the motor that was rebuilt. All of a sudden if you need to in frames at $80K a piece that is a killer. Is the starboard engine completely toast? Can you get your Man mechanic to get it running just so you could get an actual sea trial on the boat to determine condition of the rebuilt motor? Can he pull the heads and check to valves? Compression test and scope the cylinders?
Performance diesel was the last MAN mechanic to look at it...all six inboard cylinders were way low on compression. They scoped 3 cylinders....vertical scoring on the liners and pitting on valves and seats. They assume from built up corrosion after 5 years on land without starting.
Old 08-16-2017, 08:59 AM
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The port motor to me is more of the concern. I know the starboard motor needs rebuilding...but what if u get it back in the water and the port motor is down on power. The boat and owner's story is sad really....feel bad for the guy.
Old 08-16-2017, 09:08 AM
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I get that these boats cost a pretty penny, but your not only talking about 80k to rebuild one motor. The other motor has not been used in years, along with all the other components. Old pumps, old hoses, old electronics and alot of other things to get this boat water safe. I would factor all that in and make an offer, as if all that stuff needs to be replaced, because it does. Anyone else who is a potential buyer certainly will factor that in, so the seller needs to drop any lingering emotion he may have about the boat that he lets sit for years and waste away.
Old 08-16-2017, 09:14 AM
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Originally Posted by WavRidr359 View Post
You really need to be able to verify the condition of the motor that was rebuilt. All of a sudden if you need to in frames at $80K a piece that is a killer. Is the starboard engine completely toast? Can you get your Man mechanic to get it running just so you could get an actual sea trial on the boat to determine condition of the rebuilt motor? Can he pull the heads and check to valves? Compression test and scope the cylinders?
Performance diesel really wants to sea trial the running motor....getting it up to speed is the problem. I have 700hp in a CC but not sure how good that's going to help along 70,000 pounds. ..lol
Old 08-16-2017, 09:17 AM
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I think one would have to look at this boat and realize that an engine rebuild and some major work may be needed on the other to get it right.

Now you have to look at all of the other systems and figure that sitting for 7 years in a marine environment without maintenance or use is going to take some considerable $$ to put back right.

Count the pumps, motors, electronics, lights, galley equip, a/c systems, heads, bright work, controls, switches, running gear, etc and things will add up pretty quickly.

Had the boat been in operation these items would have been maintained on a regular basis, now you may be faced with having to repair all or many of these items at once.

Look at the owners side, he's faced with thousands of dollars in repairs, probably has a decent yard bill and that is growing by at least $400 a month ($4800 a year x 7yrs is $33,600!), he's either out of money or has lost interest in the boat, his wife is bitching at him that we have no boat and this huge anchor at the boat yard that is draining us monthly. Time to cut losses and move on!

If a similar boat in running condition is say $200k then no, I don't think an offer in the $50k range is off the mark on this boat. You have several months of work and thousands in expenses staring at you, have a systems survey done and hand the list to the seller and watch him choke on it.

He knows what he has and what he is facing, you may be the only guy out there willing to take this project on. If he doesn't sell will it be worth more next year after he spends another $4800 in yard storage plus insurance?
Old 08-16-2017, 09:39 AM
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Originally Posted by punisherzx12r View Post
Performance diesel really wants to sea trial the running motor....getting it up to speed is the problem. I have 700hp in a CC but not sure how good that's going to help along 70,000 pounds. ..lol
There is absolutely no way to sea trial the boat with only one motor. If you try to run a boat like that hard on one motor it will be so overloaded you will blow up that motor. Your best case scenario will be to get it out and put some load on it, but you will have no way to gauge whether the motor reaches rated RPM or high RPM performance.

Is there anyway to get the confirmed bad motor to start and run?
Old 08-16-2017, 10:02 AM
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Have you contacted Viking inNew Gretna to see if the can give you some insight on value.
I would think you would have to look at this as 2 total rebuilds you are going to have issues with any motor sitting for 3 years and not being run under load.
Old 08-16-2017, 10:40 AM
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I would start by asking the seller what he wants. He probably doesn't care what people here think.
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Old 08-16-2017, 10:45 AM
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Originally Posted by mikefloyd View Post
I would start by asking the seller what he wants. He probably doesn't care what people here think.
DING DING DING! Send the broker an email, it looks like its listed with Brian Nopper? He's been around...give him a call and see where the owner is. Instead of wasting time wondering, call him tell him your thoughts and see what his response is. IMO...not worth any more than $100k assuming you have 2 re-builds and other systems to replace...
Old 08-16-2017, 10:50 AM
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The amount of equipment that is going to need to be replaced is staggering in my view as others have said. I would not go more than 50 because your will be at close to 200k all in for everything to be right like all the ancillary systems genset A/C electronic yada yada yada.
Old 08-16-2017, 10:53 AM
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That is a boat that needs a ton of project management and won't be reliably in the water for at least 6 months. Once the starboard motor is rebuilt you will start having problems with other systems. Expect it to be a drain financially and emotionally. Unless you rip out everything and make it like new time will be your biggest expense.

Doesn't matter what it is worth the the seller. Only what it is worth to you. You said it was an interim boat until the right one came along. Seems like you could or might find the right boat before this one is operational.

On the other hand if you are looking for a marina queen this boat might be right.

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