$$$ value of a Mark 1 renovators delight?

[SeaLady]

Hi all,

I have been offered a boat for next to nothing and would appreciate some opinions on what this boat may be worth. At this stage it is sight unseen.

Any ideas?
Could it be worth fixing up a bit and selling it if the buying price was low enough?

1. It is a renovators delight - probably

2. Top Hat 25 Mark 1

3. Slipped and antifouled 2 years ago.

4. Rerigged 8 years ago.

5. New perspex in windows and new internal teak recently installed (all bar one window teak frame which has yet to be installed)

6. Diesel inboard which is probably buggered. Plus a similar outboard

7. Is sitting low in the water from rain water getting in through broken deck vents. Electric bilge pump probably not working as batteries probably flat

8. Not sure about sail condition

9. Current owner is a pensioner who has got himself into financial difficulty and has not paid the mooring nor the registration fees. He just wants to get rid of it as he is no longer capable of sailing it. And the brokers he has approached are not interested. They have told him it has no value.

10. Head in forward section, probably under the V berth.

Any ideas?
Or is it too expensive even if FREE?

Diana

[Shaun]

Hi Diana,
Without seeing it, it should be worth $4-5k surely?, you could sell it relatively easy id say for that, with a tidy-up.

1) If you have plenty of spare time it'll keep you off the streets.
2)its not a MkIII, be still good.
3)Good so it wont be too bad.
4)thats great, better than most other TH's
5)good, someone is trying to love it.
6)no problem, either ok
7) new deck vents $10, new bilge pump, new battery no probs. How much water inside?? water damaged bulkheads?? you will need to see it first for this.
8)Beer for others un-needed old sails?? (or existing sails could be surprisingly good?)
9)100's of old fellas like this....if you end up with it, let him know occasionally how your going with it, he would no doubt like to see it ship-shape again.
10)good, or rip it out & get PP

If youve got lots of spare time, could be a good project....or a learning experience!

cheers

[Miker]

A new member here, Aaron posted this a while back.

viewtopic.php?f=4&t=681

Perhaps contact him with the details. It might be a good project for him.

Michael

[storm petrel]

Hi Diana,

I agree with Shaun. Cheap is fine provided the boat is structurally sound. Be sure to check, bulkheads, deck and hull laminates, mast step, mast/rigging, cockpit sole(can rot) and deck/hull joint. Apart from the motor, these are all potentially 'big ticket' items.

Could be a fun project for you or someone else with a bit of time on their hands.

Cheers,
Mark
'Storm Petrel'

[bearmcnally]

Hi Guys

And you don't believe in Santa ! It's a Mk1, priceless . Even if it needs a rebuild etc fitting a new main bulkhead that's not difficult . The trick is to be able to work on it with ease and not cost in slipping etc ,as that is what kills the bargain ? Give Porta Slip a bell for a quote for example . Structural ply $50 a sheet x 2 ,glass etc $200 and a couple of 2x2 's
I haven't seen her ? but I reckon I good make her sail-able for 2 grand doing it all myself including osmosis etc .

Cheers bear

[Bruce]

Diana,

I have been through this process with a Mark 1 over the last two years. I bought it as a project to keep, not to resell. Will spare you the details in this post, but I'm happy to provide you with some costs if you want (PM me).

I agree with other posts here, in that if you can pick it up cheaply and do the work yourself, go for it. If you can't, leave it alone. I bought relatively cheaply knowing it needed a lot of work, but have still spent more than I should have (or will get back if I sold) The cost of slipping and commercial repairwork quickly snowballs out of control. That was ok for me because it was a project, not an investment and it's a great boat now.

If you are looking at Boatpoint or Yachthub for indicitive prices, to get an idea of how much profit you can make, tread carefully. There are still boats listed there that were on the market before I bought mine, many of them have continually reduced their asking price and most of them are holes in the water waiting for a new owner to start shovelling money into!

Cheers,

Bruce

[SeaLady]

I am thinking Mark that I agree with you Mark.

I certainly have spent a lot on money on my boat but that is for me.

There was not much water on board, hull and deck seem sound, but she needs to be completely cleaned and repainted in and out. All rigging needs replacing all mast fittings are seized, main is deteriorated, cabin is a disaster, all cushions and everything else covered in mould. Not sure if the timber work is sound.

More thought is required.

Diana

I tired to upload some photos but they are too big for here.

[bearmcnally]

Hi Di

There are some good buys out there at the moment if you have some spare cash and most don't require much work .I believe some people are in financial trouble and are starting to off load their second love after trying to hang onto them hoping things would get better . I'm watching a Swanson 28 on the web at the moment down to $25000 half it's market value at present .less than $900 a foot .
Cheers Bear

[SeaLady]

Ok ... here are some photos of a fabulous... project Top Hat
Hours / years of fun

Seriously
Any comments gratefully accepted.

Top Hat interior.JPG (174.97 KiB) Viewed 6414 times

Top Hat whole baot.JPG (187.49 KiB) Viewed 6414 times

Top Hat deck.JPG (218.59 KiB) Viewed 6414 times

Top Hat interior.JPG (174.97 KiB) Viewed 6414 times

Top Hat whole baot.JPG (187.49 KiB) Viewed 6414 times

[Bruce]

1st comment, I'm sure that's a Mark II not a I, 2nd comment, run away!