A Typical Tale of Boat Ownership

by "functionoverfashion" (functionoverfashion)
Published 05/31/2017 at 10:34

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STARS: 2

Because I like to throw money into the wind like so many petals of a wilting flower, I have a boat. I also like to read about others’ misfortunes learn as much as I can about them, so I participate in the Supra boat forum (no affiliation with the Toyota Supra).

Recently I noticed a thread where someone is rebuilding a 1988 Saltare model; it’s a 23' open-bow inboard, something that, bought new today, could easily run you into six figures. Hence why so many people buy cheap ones off Craigslist and run them until the explode, and/or rebuild them at great expense of both money and time, because it’s still leagues cheaper than a newer boat.

Here’s what one of these boats looks like, all in working order:

So someone is finishing another (former?) forum member’s unfinished rebuild. Conveniently, they linked to the original thread from the guy who bought it back in 2015 expecting to have a fun boat to use for a season or two before taking on the inevitable Stringer Rebuild. He didn’t quite get a summer out of it, you might say.

Excerpt from post #1, June 27, 2015:

Just bought my first inboard boat. Its a 1988 Supra Saltare in pretty good condition. Motor was rebuilt last year and has about 30 hrs on it. The boat itself only has 380ish hours on it. The stingers are pretty solid Id say they will need replace after next summer, thats when I plan to do a cap-off restore regardless.

Sounds pretty good actually, although “rebuilt” is a scary term because most people don’t mean rebuilt , they mean it had an overheat, blew a head gasket; they put new head gaskets on it, a little paint, and are hoping to sell before it explodes. But this has 30 hours since the alleged “rebuild,” and only 380 hours total. Ok, I’m skeptical but optimistic. He’s optimistic too:

Plans:
1. Monster MT2 tower (within a couple weeks) I really like the look of SDC77's tower and his pictures sold me on that one.
2. The old girl is gonna need a good cleaning. Ive already started on various parts of the interior.
3. Probably will be looking to add a couple sacs to improve the wake (all hidden I love the size and seating this boat has)
4. Trailer lights need some work, probably will be doing all new LED light kit.
5. Adding another battery and a Perko switch.
6. ALOT more..........

Pretty normal to have a long list of improvements you want to make, right? Let’s see how it runs first.

Post # 8 - June 30, 2015

I took the boat out this weekend on the lake. I have a couple of questions for yall.
1. My idle was set high right around 1000 RPMS, we adjusted it down and now she isnt wanting to start without some throttle. What are yall running for idle RPMs.
2. In reverse I have a “whine”, not very loud but noticeable. My buddy says his older Nautique does it too and its normal. Is it?
3. I can’t see any visible leaks from the bottom of the boat, but I’m having to run my bilge probably every 30mins or more for just a couple of mins to get out a little water. Im hoping this is normal and coming from the driveshaft seal, like my buddy suggested. Any thoughts?

Cool, successful shakedown cruise! Some answers are provided, no red flags. 1) 750rpm +/-, 2) normal, 3) tighten the stuffing box (your buddy is right).

Then on July 2nd, he posts about cleaning the boat, much discussion about propellers, and then July 4th weekend comes and goes with no word - I know I’m sure as hell not online much over that weekend. July 7th someone checks in:

Hey man, how is the Saltare going ?

And the dreaded response (July 7th, just 10 days from first post):

Not too good haha. My 4th July river ride ended abruptly when the motor lost all oil pressure. Pretty sure it blew some type of seal or something. I haven’t pulled a plug yet to try and turn it over by hand to see if it’s locked up, but I’d prolly say it is. Looks like my complete rebuild just got rescheduled to NOW.

And then, late that same night:

Well i took the plugs out and tried to turn it over this afternoon. It turned over fine but after about half a rotation something fell and banged around in the oil pan. Defiantly some metallic. The motor will be coming out this weekend and then Ill start pulling everything off the cap to get ready to separate the cap from the hull. Looks like my cap off rebuild just got pushed up to NOW.

At this point I really feel bad for this guy. He knew he was buying something that would need stringers “in the next year or two” but was hoping for at least a summer without major issues. And certainly he was hoping the engine wasn’t going to need major work. I’d say something wasn’t done right in the “rebuild,” eh? Not his fault, but damn. That’s some serious carnage.

The worst part is, he got what appears to be one ride out of it before it blew up. Then he put a bunch of work into it, but ultimately had to sell it. I can only imagine the bath he took on this one. The thread ends in October when he has the boat half apart, cap separated from the hull, engine out, and much of the demo work done. A year and a half later it’s picked up by someone else, just this past February, and the current owner is getting right into it. I wish him luck.

Bon Voyage!

Replies (31)

"jimz" (jimz)
05/31/2017 at 10:41, STARS: 3

a boat is a hole in the water you pour money into.

"RamblinRover Luxury-Yacht" (ramblininexile)
05/31/2017 at 10:44, STARS: 4

Insert joke about “if that’s one of the boat’s front rotors in the last pic, it’s not wearing evenly”.

"functionoverfashion" (functionoverfashion)
05/31/2017 at 10:48, STARS: 0

Bust Out Another Thousand!

"functionoverfashion" (functionoverfashion)
05/31/2017 at 10:49, STARS: 1

Well, THERE’s your problem....

"functionoverfashion" (functionoverfashion)
05/31/2017 at 10:49, STARS: 0

Well, THERE’s your problem....

"Sovande" (sovande)
05/31/2017 at 10:50, STARS: 0

I am always amazed when people redo stringers and decks using wood when there are so many viable and slightly more expensive composites that can be used without the fear of future rot. Slap some Coosa stringers and a Coosa deck on there and never worry about it again. Yes it will cost more, but it will cost far less than removing the rotten deck and stringers and doing the job all over again.

"functionoverfashion" (functionoverfashion)
05/31/2017 at 11:01, STARS: 0

I agree completely. I think it comes down to people wanting to use resources they have and/or are comfortable with already. They just want to go to Home Depot and get all the materials. And partly, they figure it lasted 20 or 30 years from the factory, and if it’s done well it will last even longer the second time.

Still, I wouldn’t use wood if I were doing it.

"Your boy, BJR" (jerseyshoreben)
05/31/2017 at 11:03, STARS: 1

I’m excited to get my boat in and running. It’s been too long. Boats are far superior to cars.

"MontegoMan562 is a Capri RS Owner" (montegoman562)
05/31/2017 at 11:07, STARS: 1

The other day I was pissed off at the Rally Capri, in a moment of exasperation I said to my wife “If this keeps up I’m selling the damn thing and buying a boat and we can do family trips on the boat”

And then I see posts like this and I remember boats break more than the Capri.

"AndyG_UK" (ajg1974)
05/31/2017 at 11:09, STARS: 1

My best mate bought a boat a few years ago, a 6 or 7 metre RIB. Was a nice boat, good condition (was orig the tender for a much bigger boat), had been well looked oafter, 150hp 4 stroke Suzuki outboard, blue and white, well laid out, lots of decent kit (GPS, depth finder, stereo etc all decent kit), nice colours (blue and white), he’d wanted one for years.

He kept it for 2 seasons and got rid cos it was just so expensive to maintain, run, store either during the winter or moored the summer (launchign and recovering it and having to tow it whenever he wanted to use it meant it have got very little use). and after a near sinking incident (tbh it wouldn’t have sunk as it was a RIB but it freaked him out a bit) of getting it stuck on a sandbank sandbank (pushed on to it by waves, which turned her sideways to said waves which then started breaking over the side of the boat when we had stopped to see why the bilge pump had stopped working!).

He decided that just hiring one every once in while was a much better idea than having his own, that and it meant he could get rid of the SUV tow car which he hated.

But boats are great, I love other peoples!

"Nibbles" (nibbles)
05/31/2017 at 11:24, STARS: 2

I’m buying a sailboat next year

"Future next gen S2000 owner" (future-next-gen-s2000-owner)
05/31/2017 at 11:25, STARS: 0

I’m in this situation. Boat an old boat real cheap for my area, real cheap. Runs, floats, and runs better after I cleaned the carbs this winter. It is time to cut out the floor and put new stringers and a new floor in it. There is a soft spot in the transom that needs to be done at the same time.

The plus side is even if I completely botch the repair, I can walk away without losing anymore than I would have lost to depreciation.

I was at Bass Pro checking out new boats, the monthly payment was attached to a 180 month term. That is ridiculous on a 35K boat.

"functionoverfashion" (functionoverfashion)
05/31/2017 at 11:56, STARS: 0

Haha, well, it all depends, but yes. Cars are mostly built WAY better than boats, overall

"functionoverfashion" (functionoverfashion)
05/31/2017 at 12:08, STARS: 2

Hell, unless you use your boat a lot, most people would be better off renting a boat than owning one. I worked at a marina where we rented boats, and even one family that rented our MasterCraft inboard for $2k a WEEK came out ahead in the long run. They’ve been doing it now for close to 10 years, so they’re into it for $20k and have nothing at the end of the day. However, it was a $30k boat at the time we started renting it, so assuming a minimum $1,500 annually for storage and maintenance (that’s low) they’re waaaay ahead.

"functionoverfashion" (functionoverfashion)
05/31/2017 at 12:13, STARS: 0

Wow, a 15 year loan on a boat?! Also, a quick trip to a loan calculator online said $267.75/mo. (assuming no down payment). Holy mother of WTF.

You’re doing it right.

I’ve had my ~$5k boat for 11 years. It was worth about $5k when I got it. It’s still worth about $5k. A good running inboard with a trailer bottoms out around $5k and is only really worth less than that if something is wrong with it. So there ya go.

If I did stringers on it, it would be worth, maybe, $7k.

"adamftw" (adamftw)
05/31/2017 at 12:16, STARS: 1

Damn.

I actually boat a “ran when winterized” nearly 50 year old boat and flipped it for profit. Pretty unheard of apparently. I’d like to try that again next year.

I like boats.

"functionoverfashion" (functionoverfashion)
05/31/2017 at 12:20, STARS: 1

Yeah, it’s unusual to make money flipping boats, but it can be done. Right place at the right time, more than anything. A lot of people don’t “know what they have” but then, so many people think they have something but don’t.

"functionoverfashion" (functionoverfashion)
05/31/2017 at 12:21, STARS: 0

Sail it around the world!

"MontegoMan562 is a Capri RS Owner" (montegoman562)
05/31/2017 at 13:14, STARS: 0

well knowing me it would be a cheap I/O bow rider with a V8.

so yeah, it would break LOL

"functionoverfashion" (functionoverfashion)
05/31/2017 at 13:16, STARS: 0

Forget I/O, go inboard. Way less to break! And more likely to be loud as hell.

"Meatcoma" (mastapoof)
05/31/2017 at 14:17, STARS: 0

I bought mine new for like 13k in ‘94 and got a 10 year loan. My payments were 140.20/mo. I paid about 3k in interest. Kept the boat until 2005 and sold it for $5k. As long as you keep them nice you can expect to get around 5k out of them no matter the age if they run well.

"awmaster10" (awmaster10)
05/31/2017 at 14:18, STARS: 1

Its hard on bigger more expensive boats, but for cheap boats its so easy to flip them for a small profit.

- Buy jon boat, freighter canoe, simple bass boat, skiff or whatever for “desperate to get rid of it price.” There are hundreds of these on craigslist, and some even include running outboards, usually a mercury/nissan/tohatsu 4-6hp or old evinrude, which will probably not let you down.

- Clean it up. Easy with aluminum boats, harder if not, but still will make the boat instantly look way nicer.

- Install cheap ass fancy looking swivel seats for $60

- Install cheap ebay bimini cover, mounted cooler, rod holders, anchor, or some other kind of cool cheap gimmicky accessories ($100)

- Install new marine carpet ($100)

- Sell as clean running boat with accesories for “Ready for the water price” which is much higher than “Desperate to get rid of it price”

But yeah any sort of boat above $5k its really tough to flip

"MontegoMan562 is a Capri RS Owner" (montegoman562)
05/31/2017 at 14:24, STARS: 0

lol. I always figured there was more to break with those, but I suppose there’s not much in the way of an out drive is there? Anyhow, i can’t afford a boat in good shape and the lake my wife’s family goes to is real shallow so pretty much every one uses fishing boats or pontoons.

Maybe I’d do a jet powered little boat. Those always looked fun.

"functionoverfashion" (functionoverfashion)
05/31/2017 at 14:25, STARS: 1

You could even just “remove leaves and moss” from a lot of these kinds of boats and make a little money, haha. People post pics of something half-buried in their yard at your “desperate” price....

"awmaster10" (awmaster10)
05/31/2017 at 14:32, STARS: 0

Its insane, and I find that a lot of them even come with trailers as they are just trying to free up space. Next time I have $1500 to spend I think I might have to go out and find a neglected but sound skiff hull and clean it up and throw a newish motor on it. Lot of fun for your cash and almost as reliable as a new boat.

"functionoverfashion" (functionoverfashion)
05/31/2017 at 14:36, STARS: 0

Yeah, there are lots and lots of sensitive parts in a sterndrive, but a direct drive transmission is pretty bulletproof on its own. The parts actually oustide of the boat are dead simple. Also on shallow lakes, if you can be sure of where the obstacles are, direct drive boats draw a lot less water.

Years ago now, I was going into a shallow, sandy dock with a friend - me in my 21' inboard, him in his 21' I/O. I had probably 10 people on my boat, he had 6 or 8 on his. I came right into the dock in 18" of water (had 2 guys stand on my bow to help bring the stern up a little), he had trouble in 36" of water and had to trim ALL the way up, running the drive at the equivalent of full lock - not great for the gears - and still ran aground in 24" of water.

"functionoverfashion" (functionoverfashion)
05/31/2017 at 14:49, STARS: 1

The key on getting a good motor is having a connection at a marina. The “You got any good, used outboards?” call was a running joke, we got like 10 calls a day on nice summer days, and we’d never have inventory. But we DID get good engines occasionally, on trade, for whatever reasons. And we’d call up the first person we could think of - who we liked - and let them know, “hey we got a nice engine you better jump on it before the next guy calls.” Hardly any would hit the sales floor (so to speak).

Or you can be lucky on CL with some patience, cash in hand, and vigilance.

"MontegoMan562 is a Capri RS Owner" (montegoman562)
05/31/2017 at 14:56, STARS: 0

lol what are you goofy bastards doing driving around in 18" of water in fully loaded 21' boats?!

That’s impressive though. They tend to be more expensive though. For example I found a bunch of $3500 and under I/O’s in my area that would be functional (probably need floor work) but usable for the season - and hopefully not end up like the guy in this story! haha

But for inboards I found 1 and it looks like hell:

https://detroit.craigslist.org/okl/boa/6155684268.html

"functionoverfashion" (functionoverfashion)
05/31/2017 at 15:00, STARS: 0

haha, we were going to a wedding on a finger lake in central NY state... one whole side of the lake was very gradual and sandy - especially toward the north end - the other side was quite steep and deep. Who knows?

And try searching “Nautique” or something more specific - more selection but nothing cheap at all.

"MontegoMan562 is a Capri RS Owner" (montegoman562)
05/31/2017 at 15:12, STARS: 0

I just did boats for sale by all and a price range of 1000-3500. no search terms.

"awmaster10" (awmaster10)
05/31/2017 at 15:19, STARS: 0

Yeah boat stuff in general having people in the business is huge