Boat Value

[usamarshal]

Hey guys, just wondering as I'm not sure. If a boat has been in an accident and had significant repairs made to hull...ie: holes in the fiberglass from hitting object in the water...after the repairs are completed and if done correctly is there any lost value in the boat? If so, what percentage would be lost? Thanks for any info.

[boaterok]

Yes a loss in value. What percentage is anyones guess. As far as done correctly how do YOU know if it was done correctly? YOU don't or you wouldn't be asking the question. Just steer away and you want have to worry about it coming apart on you and getting you or your family hurt or killed (what percentage is that worth to you).

[racervboat]

Depending where the damage is if done right a buyer would not even know if it ever was damaged or repaired so if a seller does not acknowledge it no loss in value ? jmo

[boaterok]

Depending where the damage is if done right a buyer would not even know if it ever was damaged or repaired so if a seller does not acknowledge it no loss in value ? jmo

I understand if buying that if it wasnt divulged that you probably wouldnt know it had been repaired. But usamarshall said it had significant repairs made. Now the question is, is it a 40' MTI capable of 180 mph or a 12' Boston Whaler that wouldn't sink if it was cut in half. Me personally I wouldn't want a boat that had significant repairs and that the repairs will probably show up a couple of years down the road and try explaining that when your ready to sell. jmo

[usamarshal]

Basically I purchased a used boat a couple years ago and was told vessel was mint condition. My first major boat purchase and I got the boat rigged the way I wanted. Everything was great until last month when I noticed gel coat cracks on the front of boat, along with fading of the gel coat. Come to find out boat was in an accident and repaired. Really pissed me off to be honest because I was told boat was mint and nothing mentioned about the accident or the repairs. Now I'm worried about the safety aspect of it and of course resale value. Not even sure where to go from here. Just don't understand why I was lied to by the boat dealer and if I have any recourse. Paid a lot of money for her.

[boaterok]

Well Sir as you know if money is involved liars are around also. Sorry to hear of your problem but it kind of goes back to what I said in my original post. But as far as recourse goes I doubt if you have anything UNLESS you have a binding document kind of like a 600 page prenuptial. Good Luck

[tunnelmike]

If it was a legitimate business you might. I'm sure he's not wanting the word to get out he sells damaged merchandise without disclosure. Mike

[usamarshal]

Its definitely a legit business....biggest boat dealer in the state I purchased her I believe. Plus I have text messages from dealer stating boat perfect condition even after I asked him if she was mint.

[racervboat]

How long has it been since you bought it?

[22R]

The problem I see is that if you bought the boat a few years ago the seller will say that you damaged the boat and it was mint when sold to you. If you can prove otherwise then you could at least shame him but the time thing is gonna work against ya. Sorry I know this must be red azzing !!!

22R

[usamarshal]

In 2016.

[usamarshal]

Ya, its already been proven. The manufacturer of the boat let me know and it was documented with the repair rep who works for said manufacturer. I guess it was a pretty bad accident.

The problem I see is that if you bought the boat a few years ago the seller will say that you damaged the boat and it was mint when sold to you. If you can prove otherwise then you could at least shame him but the time thing is gonna work against ya. Sorry I know this must be red azzing !!!

22R