Recently, a friend complained that a deal went sideways to sell his 19-year-old, outboard-powered cruiser. A survey revealed internal corrosion in the exhaust leg of the motor. It was a low-hour boat that showed well, but this problem would need repairing, or the boat would have to stay tied to the dock. The deal was saved with the needed engine work, but my friend’s inflated sense of his beloved boat’s value was destroyed.
Boats are durable goods. A well-maintained boat will retain value, but its net worth hinges on the owner’s attention to detail. Two boats with similar accommodations, engine power and accessories may start out worth about the same, but their location, how they age, their hours of use and their maintenance schedules will be deciding factors during a sale. There’s a difference between cosmetic and structural needs.
In my early days, I loved teak. Whether it was varnished half-round trim along the sides of the deckhouse, a gleaming caprail on the flybridge wings or a toerail, I looked forward to a fresh coat in the spring and another mid-season with my durable badger-hair brushes. My teak decks would be cleaned and oiled a few times during the warm months, and I enjoyed the aroma of teak oil wafting though the air as I walked toward the boat.
This cosmetic work is time-consuming, and materials are expensive. But without the care and effort, the teak looks terrible and unhealthy. Similarly, the fiberglass needs its share of maintenance. Neglect and age also affect accessories such as cockpit cushions, bolsters, Bimini tops and clear vinyl enclosures. A boat with a poorly maintained exterior is a time and money pit that will hinder any possible sale.
Cosmetics notwithstanding, structural items are more critical. You can use a boat with a stained hull and a dirty waterline, but if it sustains any mechanical failures, you are opening a door to lost time and added expense. This is where age-related problems rear their ugly heads. An engine-overheating issue does not go away by limiting run time or cruising at slower speeds. The engine may need a water pump, an impeller or a cleaned-out heat exchanger. Vibrations that indicate an engine misalignment, a bent propeller or running-gear problems will not heal themselves. Low engine hours can be a cruel hoax about the overall condition of the boat and neglected systems.
New-boat buyers can get additional protection with an extended warranty, which sometimes can be transferred to the next owner. It’s one of the few things that retain a boat’s full value, because even a new boat is not without occasional issues. New-boat buyers also should be absolutely sure each system is working correctly, ideally before taking delivery and leaving the dock. One friend took delivery of his boat and then, the first time he fueled up, discovered that his fill hose was kinked. It took him nearly an hour to pump 40 gallons of gas on a busy Saturday morning.
Although these inconveniences are not deal-breakers, the complexity of modern boats requires due diligence on the part of the seller and owner. In some instances, a year-old boat may have all of the gremlins worked out and might be a better value than a new boat. However, there still might be problems yet to be discovered.
No matter the age of the boat, take the time to familiarize yourself with every part of the vessel, including its engines and accessories. We all learn something new every day, whether it’s aboard a brand-new boat or a crusty old scow.
This article was originally published in the November/December 2023 issue.
