Gibbs Quadski Amphibious ATV

With this half-ATV, half–personal watercraft, Gibbs has created a fast first       

On-Sale Date: December

Price: $40,000

Competitors: None

Powertrains: 1300-cc BMW inline four; 175 hp. Power split to a limited slip rear differential (land) and a high-performance jet pump with reverse (water).

EPA Fuel Economy (city/hwy): N/A

What's New: Gibbs has been working on the concept of high-speed amphibious vehicles for 16 years. It produced a brief run of cars (the Aquada) that had to be aborted because of supplier problems. The Quadski is the first commercially available, practical amphibian that does both land and water brilliantly.

Tech Tidbit: When the Gibbs is ready for aquatic duty, two servomotors pull in the wheels. Those motors crank the CNC-milled upper-control arm mounts inboard, and the whole suspension pivots swiftly. Transitioning from land to water takes only 5 seconds.

Driving Character: I went into this test expecting the Gibbs Quadski to be a jack of two trades and master of neither. What I found was much better.

I grew up on ATVs, and so I laid into the Quadski on land. The huge power and limited slip differential work perfectly together, delivering as much performance as you'd expect from a straight axle quad. The machine uses BMW's constant-mesh six-speed transmission and a bespoke auto clutch that downshifts for you. It's convenient when you're in a mix of twists and straights.



The only trouble with the Gibbs on land is getting used to the left-thumb-button-actuated upshifts. It doesn't come naturally, but with practice it should be no problem. The machine is significantly bigger than most quads, though, so it simply will not work on tight backcountry trails. But on two tracks and in wide open spaces it's right at home. It can even manage some pretty good jumps.

In my only previous experience on a Jet Ski, I managed to misread a swell and separate myself from my machine by a 50-yard swim. Thankfully, such was not the case on the 40 F October morning in Michigan when I tested the Gibbs. The Quadski is completely predictable on the water. On land, the power output is electronically limited to about 80 hp for safety, but on water you get the full 175 hp out of the BMW inline four. Getting up on plane from a dead stop is shockingly quick. A 45-mph claimed top speed means it's no slacker on open water, and it handles wakes smoothly. With its wheels pulled up and away from the water line, the Quadski can execute turns and tight maneuvers just like a Jet Ski or Sea-Doo.

Favorite Detail: The most impressive piece of the design has to be the bargeboards (or are those Nerf bars?). They're perfectly designed for tons of leg leverage on land, and I didn't even get the cuffs of my pants wet on the water.

Driver's Grievance: Anyone who rides personal watercraft knows you do not get them into the shallows or you foul the propeller, which causes cavitation, a condition where the flow of water tumbles unpredictably and causes tremendous loss of in-water power.

I did this twice. Within an hour.

I can't really fault the Gibbs engineers outright, because I am not an experienced watercraft pilot. But perhaps a jet-intake guard at low speeds would be advisable, especially considering this vehicle is intended to transition through shallows all the time as it goes from sea to land and back again.



The Bottom Line: At a breathtaking cost of $40,000 for the first 1000 production units, you can believe the first takers won't be average weekend warriors. Yacht-makers are already designing these things into their vessels. But for the committed sportsman, the Quadski does answer a need for freedom to roam. Rather than take loads of time circling a lake, why not just traverse it? Likewise, if a waterway is the fastest route from A to B, now you can take it and pop out on dry land on the other side.

Gibbs is planning three more high-speed amphibians in the future. We hope they can get their prices down to the 15 percent premium over a comparable Jet Ski that founder Alan Gibbs believes he can build them for. Storing one toy in the garage rather two is a pretty alluring prospect. After the test drive I found myself trying to justify spending new-car money on this ultimate go-anywhere machine.

 

By Bill Schrama from Popular Mechanics Post

 

Finance this machine at www.boatfinance.com

Facts & Figures

The Statistics and Research department provides industry stakeholders with the latest boating industry forecasts, market data, research and trends.

Did you know ... 
Recreational boating retail expenditures (new and pre-owned boats and engines, trailers, accessories and services including fuel, repair, storage, insurance, taxes) increased 10% in 2012 to $35.6 billion. The industry’s rising tide creates 338,526 marine industry jobs (manufacturing, dealers/wholesalers, services) at 34,833 marine industry businesses.

Retail sales of new power and sailboats increased 10.7 percent in 2012 to 163,245 boats, demonstrating a post-recession recovery for the industry. It’s not just new boats Americans are buying. There were an estimated 969,000 pre-owned boats (power, PWCs, and sail) sold in 2012, an increase of six percent from 2011.

Americans are taking to the water in record numbers: Of the 232.3 million adults in the US in 2012, 37.8%, or 88 million, participated in recreational boating at least once during the year. This is a six percent increase from 2011 and the largest number of US adults participating boating since NMMA began collecting the data in 1990.
Further insights ...
93% of the boats sold in the U.S. are made in the U.S.
95% of the boats on the water are 26 feet or less.
76% of boat owners have a household income less than $100,000.

Source: National Marine Manufacturers Association, 2012 Recreational Boating Statistical Abstract

Posted by Bill Schrama

Need a boat loan visit www.boatfinance.com

A Fishing Adventure on Martha's Vineyard

Old guys and the sea

About 15 years ago, my son and I decided to take the grandkids on a deep sea-fishing rip. We were living in Martha’s Vineyard at the time and the family was visiting. We called on of the Charter captains in Menemsha and got a rate and a date. (As an aside, Menemsha is where a lot of the boating scenes were filmed for Jaws)

Bright and early we packed everyone into the car and drove up Island for our date with Captain Jack. He turned out to be a rather nice young man who made his living doing charters. He charged by the half-day and we could pile as many on his boat as we wanted. There were 8 of us and we brought our lunch and a cooler of sodas for the kids.

We left and the kids were all excited. The captain said he would explain everything to us once we got to his sweet spot. He said he was the only one that never came back without a fish. The rule is, “No fish, you don’t pay”. He said all the other fishermen wanted to know his secret and actually followed him when he set out to fish.

The trip was beautiful and in the morning sun the Vineyard is spectacular. We rounded Gay Head and headed for a place called Squibnocket. Captain Jack pointed out the shoreline and said this was the area here Jackie Kennedy had her family compound. In fact, it was the area where John Kennedy crashed his plane in the morning fog. People assumed he was trying a fly over to show the passengers his mother’s place and got disoriented.

We anchored and Captain Jack started his tutorial. At the stern he had this Trolling chair and said we would all get a chance to fish one at a time. He took my grandson Kyle and strapped him in and gave him the gigantic rod and reel. The line was 100-pound test and it had a steel wire leader with the hook attached. He said, if he didn’t use that the fish would bite through it.

He then reached into his bag and pulled out a 10 in section of red surgical tubing and placed it on the hook. He did all this while shielding himself from the other boats nearby. He said the surgical tubing was his secret weapon and vowed us all to secrecy. The kids loved the solemn nature of the moment.

The line went overboard and he started the engine and began a slow trace of the shoreline keeping his eyes on the fish finder.

 All of a sudden – Wham, Kyle had hooked a monster Striped Bass. The Captain came back and showed Kyle how to work him toward the boat using the reel and slack line. The Kid was excited and when the fish broke water, I thought Kyle was going overboard. We got the fish on the boat and measured him. In Massachusetts the fish has to be a minimum 28 inches and weigh more than 30 pounds (this has changed since we went). Kyle’s fish met the qualifications but we decided to go for bigger. Captain Jack then pick up the fish over his head and shouts towards the other boats and heaves the fish overboard. The yells and screams from the other boats were kind of enjoyable. His message was “Don’t mess with Captain Jack”

We did this for the next 2-3 hours and everyone got a chance. By Law we could only keep 1 fish for each person fishing so our keep limit was 7. We caught 35 and threw the rest back keeping the largest. 7 fish. The ones we released were all alive when we let them go.

By noon we were headed back to port with our catch. Everyone seemed to have a smile on their face and I hoped it would be an experience they would remember.
The Striped Bass is a beautiful fish and size can go up to 50-60 pounds. Just watching the smallest grandchild reeling one of these in was a joy. It wasn’t easy for them and it’s like hooking into a small refrigerator. Kyle was the weight winner of the day at 42 pounds.

When we got to Port we had to unload our catch. Our 7 fish weighed in at over 200 pounds and Captain Jack started the process of filleting the fish. He had this beautiful boning knifes and was an expert using it on the fish. The kids all stood around him watching the process and up on the dock about 75 people stopped to gawk at Captain Jack and he made a grand show of his artistry. It was free advertising for him

What a day! We thanked the Captain and headed home with enough fish for a month. The conversation going home was excited and everyone had stories to tell their friends

That night some of the catch was our dinner. 

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Boat Engine Comparison: Outboard vs Sterndrive vs Jet Drive

When Glastron said it was making a runabout available with three different power types we jumped at the chance to pit: outboard versus sterndrive versus jet drive.

Outboard, sterndrive or jet drive: These are the available power choices in today’s runabout market. Glastron recently achieved a trifecta of sorts, becoming the first boatbuilder to offer the same 18-foot bowrider with each power option, which presents us with a golden opportunity — the chance to finally mount a real head-to-head comparison of outboard, sterndrive and jet propulsion. Glastron provided an outboard-powered GTS 180, a sterndrive-powered GTS 185, and a jet-powered GTS 187 for trial on the same day at its test facility in Cadillac, Michigan. We compared performance, dimensions, features and cost to see if one power option would prove superior. We encountered the expected compromises with each powertrain, but there were a few surprises too.
Boat Basics
From the aft seat forward, each of these Glastron boats is exactly the same except for slight differences in controls and instruments. The 18-foot Glastron is a sharp-looking bowrider. It’s designed to compete in the affordable segment of the price spectrum. The fiberglass deck incorporates the bow seating and aft seat base but does not feature a full-cockpit liner. A separate floor, or cockpit sole, is bonded to the top of the fiberglass stringer grid that’s bonded to the hull. The exposed areas of the inner hull are covered with attractive “chain weave” vinyl material. Instruments are presented in deep aluminum bezels above a spider-spoke wheel; the bucket seats have flip-up cushions; and positive pin latches secure the lift-off cushions over stowage in the bench bases. These boats are typical of the breed, but well executed.
You’ll note that the length overall for each boat is slightly different. The outboard’s transom makes that boat 2 inches shorter than the sterndrive. The jet is 18 inches longer than the other two because its extended swim platform is a standard feature. The jet also carries three more gallons of fuel because it has a different tank shape to accommodate its required in-tank fuel pump.
Our test boats were rigged with the power option that is most popular on each model. The GTS 180 featured a 3.0-liter V-6 Mercury 150 FourStroke outboard. The GTS 185 had a 220 hp MerCruiser 4.3 MPIC under the hatch. The GTS 187 was powered by the 250 hp version of the 1.5-liter, three-cylinder Rotax 4TEC engine, which is supercharged, intercooled and catalyst-equipped. That’s a big spread in power, but testing would reveal that actual performance was pretty close. We conducted performance testing with crew and ballast totaling 700 pounds.

Outboard vs Sterndrive vs Jet Drive

Weight
We used Rec Boat’s tech-center scales to weigh the test boats. There’s a spread of 610 pounds between the outboard, our lightest version of the boat, and sterndrive, the heaviest version, with the jet weighing 60 pounds more than the 2,120-pound outboard-powered boat. This weight difference will affect every aspect of performance and economy.
Performance
Top speeds for the outboard and sterndrive were very close, at about 49 mph. The jet ran 43.5 mph, handicapped despite its power advantage by its lack of trim, which on the outboard and sterndrive let us raise the bow and reduce drag. It’s important to note that the running surface of the jet-powered GTS 187 is specific — Glastron did not simply drop the jet drive into the sterndrive hull and call it a day. There’s a huge weight difference between the two powertrains, and the thrust angle makes the boat handle differently. We were told the jet hull has much less deadrise forward and less lift aft.
The jet has a clear advantage in acceleration. We tested 0 to 25 mph “light” with one person on board and “heavy” with the equivalent of six 175-pound people on board. The jet simply lifts and leaves when the throttle is punched, blasting off with no bow rise. The outboard exhibits slight bow rise but is only about a second behind the jet to 25 mph. Bow rise blocked our view forward for a moment when the sterndrive accelerated, and with the heavy load the sterndrive was a slug, struggling to get on plane.
Fuel Economy
That the outboard proved most efficient is obvious — with just 150 hp it can match or exceed the performance of engines making more than 200 hp, as our performance charts show. At cruising speed the outboard manages 5.0 mpg, 25 percent better than the sterndrive and 52 percent better than the jet. We don’t have a good explanation for this beyond the fact that the sterndrive boat weighs 600 pounds more than the outboard, and the jet drive system is less efficient than the outboard’s propeller. Also, while the jet’s appendage drag is less, since no gear case is being dragged through the water, this may result in increased wetted surface of the hull, since it offers no ability to trim the boat.
Note that each of these engines has a different operating range — wide-open throttle is 5,000 rpm for the sterndrive, 6,000 rpm for the outboard and 8,000 rpm for the jet — so each also has a different cruising rpm. For this comparison, rather than select each boat’s best possible cruising speed, we picked a “pleasing” cruise speed, because in the real world you are not going to want to wobble along just on plane. At speeds below 7,000 rpm, the jet-powered Glastron felt like it was wallowing just a little. It likes to have more pressure under its hull to feel planted in the water. That happens to be about 35 mph, so we compare the other two boats at a similar speed in the water.
Sound Level
This is another easy win for the outboard. At cruising speed the outboard is 6 decibels (dbA) quieter than the sterndrive and 11 dbA quieter than the jet. The dbA scale is logarithmic, so a change of 10 dbA is a change by a factor of 10. Which means the jet is more than 10 times “louder” than the outboard. An outboard engine has many design advantages that keep sound levels low in the boat cockpit. It’s located farther away, on rubber mounts that isolate its vibration from the boat. It’s also enclosed by a tight cowl and can be fitted with an attenuator tuned to significantly reduce intake noise. Both the jet and sterndrive have to comply with U.S. Coast Guard flame arrestor regulations that essentially leave the intake unmuffled. The jet is further disadvantaged because its entire powertrain is mounted within the boat hull, so part of the noise of a jet drive is the flow of water through the pump and the sound of cavitation on the low-pressure side of the impeller. The jet also runs at much higher rpm, and this higher-frequency sound is more irritating to the human brain.
Aesthetics
Choosing a boat is not always a rational decision, and the look often trumps performance, economy and noise. There’s no question a lot of people really like the classic lines of a sterndrive runabout with a big sun pad over the engine and a full-width swim platform. An outboard motor ruins that clean profile, breaks up the platform into a pair of small shelves, and often requires a motorwell that intrudes on lounging space aft. The jet is also inboard, but its little in-line triple engine is much more compact than the V-6 sterndrive engine, and has a lower profile. This creates more styling possibilities aft, and in place of a sun pad, the Glastron GTS 187 has a pair of aft-facing seats with bottom cushions just above the level of the boarding platform. The jet powertrain is rather long, and the area below the center aft cockpit seat is devoted to service access to the front of the Rotax engine and the electric fuel pump, rather than stowage.
Operation
It took a sandbar on Lake Cadillac to remind us of a key virtue of jet power. We “polished the prop” of the sterndrive when we hit bottom. The jet, which draws just 14 inches at rest and perhaps 6 inches on plane, would have skimmed right over the bar. Research shows that owners also value the simple operation of a jet-powered boat — controls are limited to forward and reverse, and steering. There’s no trim to think about, no prop to ding up. Compared with the outboard and sterndrive, the jet is mechanically simple. However, because the jet pump has no rudder, it does not track well at no-wake speeds and, until you get the hang of it, can be much more difficult to control around a dock or when loading a trailer. The jet has very quick steering — just 270 degrees lock-to-lock on the wheel compared with 3.6 revolutions for the outboard and 4.5 for the sterndrive — which requires some reflex adjustment. The jet is willing to make buttonhook turns that would send your crew crashing across the cockpit. Let’s just say it’s very agile.
The trimability of the outboard and sterndrive enhance performance and economy, but the aluminum props on our test boats would blow out if we tried to make an assertive turn without first trimming back down, so that’s one more thing to think about at the helm. Submerged sandbars, rocks and stumps pose a potentially expensive risk to props and drives. You are less likely to suck sand or gravel into a jet pump and damage the impeller and sacrificial wear ring.
The outboard is so quiet you can have a normal conversation at cruising speed. The V-6 sterndrive engine vibrates quite a bit at low speeds and sounds relatively coarse at all speeds. The jet is obnoxiously loud, unless you’ve being riding a personal watercraft and don’t know any better.
Conclusion
On paper, the outboard power system is a clear winner. In this comparison, the Glastron GTS 180 with a Mercury 150 has the lightest weight, the best fuel economy, the quietest cockpit, and performance that matches or exceeds those of the sterndrive and jet. But the outboard loses big points for looks and the “livability” of its stern area. The jet is the least expensive, accelerates fastest, is easy to operate and has a clever lounging area, but it’s thirsty and noisier. In this comparison, we think styling is really the only reason to choose the sterndrive-powered boat. We say, “Wise up, America!” and buy the outboard.

By Chales Plueddeman  Boating Magazine online

Posted by: Bill Schrama

Need a boat loan to purchase a boat or repower your current boat visit www.boatfinance.com  

Ten Tips For Selling Your Boat.

1. Market it!: Advertise heavily. Place ads in local boating press, the big daily newspaper and, if it’s a large boat or one of limited availability that buyers will likely travel out of state to see, place ads in the pricier regional and national venues. Picture ads draw more traffic. Rent space at some highway-side lot where hundreds of passers-by can see it—more than in your driveway.

2. Fired-up!: Start the engine and warm it up an hour before a prospect comes to see the boat. A dead battery or balky start—even for an excellent engine—turns buyers off.

3. Pledge of Allegiance: Looks are important. Spray-on furniture wax can be applied and wiped-off quick and easy. The gleam doesn’t last more than a day, but it’s perfect for that prospect who calls and says he’ll be over in an hour.

4. Empty Promise: It’s better to show empty stowage areas and remark how spacious they are then to have all your gear jammed in them to the point of overflowing. Remove your crap.

5. Touch Points: A professional detail job makes sense for a boat in pristine condition. If your boat rates “average” or “good” focus solely on the more glaring blemishes. Compound-out rust stains bleeding from fittings, re-tape shredded boot stripe, de-grease the engine, clean the bilge, etc. If the cabin is musty, surreptitiously place air fresheners.

6. Fogged-out: If clear curtains are scratched or clouded by age, remove them for the initial viewing.

7. Bottom Job: If the boat is bottom painted, apply a fresh coat. It makes the boat look sharper. Also spray paint outboard and stern drive skegs that have the paint worn-off.

8. Sea Trial: With the canvas removed, all but safety gear stowed ashore and light in fuel and water, your boat will plane easier, handle more nimbly, and attain a faster top-end speed. Try to convince the buyer to limit ride-along friends and family to as few as possible, for the reasons above, and so the true “roominess” of the boat isn’t painfully obvious.

9. Paper Chase: Have all title, registration, extended warranty and, if available, service records on hand in a binder. It’s impressive, even if the buyer's initial reaction to it seems ho-hum. See how much a boat lender will finance for a potential buyer.

10. Be Realistic: Figure out your bottom–line price well in advance of meeting the first buyer. Consider the dollar costs of advertising, storage and maintenance while it's for sale as well as the time costs involved in showing the boat.

By: Bill Schrama

If the buyer needs a boat loan please visit www.boatfinance.com for loans from $5,000 and higher.

Is that repo boat really a bargain?

You can get a good deal in today's glutted market, but you also can get burned if you're not careful.

Repossessed boats can offer what seem to be amazing deals, especially with owners defaulting on loans in record numbers. Banks contract with repo firms to recover the boats and then sell them off, often at auction, to stem their losses as quickly as possible.
The excitement of the chase, a handyman's skills, a gambler's instinct and weakness for a deal, and old-fashioned opportunity all motivate people to buy these boats. But keep in mind, there is a potential downside to factor into the equation, including a lack of history and no warranty when bought at auction. Add in the fact that the owner who couldn't keep up with his payments probably neglected maintenance, and the boat's potential value declines further.
"Neglected maintenance is a problem," says Jonathan Klopman, an expert forensic surveyor based in Marblehead, Mass. "There's also an element of buyer fantasy when it comes to repo boats, but the chances of getting burned are higher than some people think."
However, some people do very well on the repo market for reasons ranging from skill at sizing up a boat to sheer luck. Others do poorly and regret they ever considered the idea. Let's see what to look for to help make sure you'll be in the first group.
Caveat emptor
Repo boats sell "as is," with no warranty or guarantee. In addition to unloading boats in a hurry, not having to back them up after the purchase is another reason they are sold at discounted prices. And though a sea trial is usually part of the boat-buying process, depending on the repo company, you may have to give this up, too.

Brad Ferguson, president of Northeast Marine Liquidation (www.northeastboatsales.com) in Pawcatuck, Conn., stresses the importance of having repo boats properly surveyed.

"Not being able to do a sea trial is a huge issue," says Klopman. "If you start the engine when the boat's up on blocks, all you know is that that starter works. It's unrealistic for the average buyer to expect the same 'return it to Home Depot without the receipt' mentality if they have buyer's remorse."
The only time you'll be able to get any satisfaction is if the original boatbuilder's warranty is still in effect. Damage won't be covered, but defects might be, depending on the problem and when the warranty clock started ticking. You may also find that the engines, generator or electronics are under warranty, in which case you should register with the OEM as the new owner. Absent this, your risk is greater, but so are the potential rewards if there are no surprises.
A late-model boat that was well taken care of, kept under wraps and not abused in any way can be a great find, but expect to pay more for it. The banks that own these boats have three essential objectives: 1) sell the boat for as much as possible, 2) sell it quickly, and 3) see first objective. Even if a boat has issues, it may still be a good deal; just make sure you get a deep enough discount to cover major repairs. And while it comes with no guarantees, make sure it's all yours, with no liens against it. This should not be an issue with reputable auctioneers, since a clear title is typically guaranteed in the sales agreement.
If a boat was stolen and stripped, make sure you understand how much it will cost to restore it to original condition. If the electronics and gauges were cut out with a Sawzall, you're likely looking at an expensive repair job - not only to replace the fiberglass panels, but also to match the repairs cosmetically to the surrounding surface. This is not an easy fix, though it is a handy skill to learn if you're willing to put enough time into it. If the windlass, engines, generator and other major components were stolen, with a lot of damage in the process, replacing everything with new components could be more expensive than buying a similar higher-priced, undamaged model from a dealer.
Dealers often buy repo boats at auction, spruce them up, and sell them to consumers. However, they may not know any more about the boat's history than you do, and the price they're asking most likely is substantially more than they paid for it, so there's less room for the price to justify the added risk. That leaves the dealer's warranty to close the gap, but if it's only a 30-day warranty, it won't be worth much if the boat starts falling apart halfway through the season. For my part, I would want a 12-month stem-to-stern warranty before buying such a boat.
Klopman also points out that high-performance boats have a high potential for abuse, given the way they are used. And it takes a very high level of skill to work on them, so know what you're getting into. A more sensible plan if a go-fast appeals to you is to just get a prescription for Viagra and buy a Mainship.

Repossessed boats offer the potential for getting a lot of boat at a value price, but the buyer must be aware of the risks.

Where a previous owner kept the boat also will be a factor in its condition. "It makes a big difference if you're looking at a Florida boat that's been baking in the sun, floating in warm salt water, and used for 200 hours a year for the last 10 years, or if it's been moored in fresh water on the Connecticut River, stored under cover in the winter and used for 50 hours a year," says Ron Milardo, owner of Cooper Capital Specialty Salvage (www.cooperss.com), a salvage management company based in Old Saybrook, Conn. "If you can find the Connecticut boat and it's been maintained by the selling dealer since new, paying more money for this boat is likely far and away your best deal."

Milardo adds, "Do your homework, make your best bid and be ready to deal with the consequences - for better or worse."
If all a boat needs is cosmetic work - this is what the repo dealers look for - you may have found yourself a diamond in the rough. A little scrubbing, compounding, waxing, some new upholstery and canvas, and voila. If you're looking at a larger cruiser, you might focus initially on making sure the boat is reliable, with fully functional systems, then sequentially over the next few seasons refinish the saloon, upgrade the galley, Awlgrip the hull, add new electronics and so on. As long as it's seaworthy and reliable, this may be a smart way to go, since you get to enjoy your new yacht without being boat-poor.
Project boats
Distressed boats - those that were holed running aground, that partially (or completely) sunk or partially burned - will take a very high level of skill and lots of time and money to bring back to life. These boats can take more work to restore than a kit boat would take to finish off, so be forewarned.

Would-be buyers should do their homework and take the time to personally inspect the boat.

My advice is to start small if you want to undertake a rebuild. It's virtually a certainty that it will take longer and cost more than you think it will. If you've worked in home or commercial construction and are handy with tools, you'd still be amazed at how much longer it takes to refit a boat than, say, rehabbing a recreation room that's four times the size. Decks can be curved, pitched and cambered; hull sides are never straight, at least not for any distance; and a good deal of machinery, plumbing and wiring is crammed into incredibly small spaces. And it all has to be accessible.

On the other hand, very few projects are more rewarding - for me, anyway - than buying an old boat that's still beautiful below the surface, structurally sound but cosmetically shot for a song and bringing it back to life.
Forewarned is forearmed
The best approach is to first inspect the boat yourself to see if it really has potential, then hire a competent, experienced surveyor who can find the rotten transom, debonded coring and ruined engine. If you haven't used a surveyor before, a good first step is to contact the National Association of Marine Surveyors (www.namsglobal.org) or the Society of Accredited Marine Surveyors (www.marinesurvey.org). There's a wide range of ethics and competence among surveyors, as well as the time and trouble they'll take to dig around and look for evidence of abuse, neglect and damage.
Brokers I've spoken with say you should ask around to make sure a surveyor is competent and has no conflicts of interest, such as a close relationship with the seller or seller's agent.
The marine surveyor can help you determine whether the boat is a good deal and you can use any defects he finds as a negotiating tool. Major problems with the boat's structure or machinery may prove too much for you to take on, in which case the surveyor has done you a favor by putting a halt to a project that's over your head technically or financially.

Be sure buying new engines won't put you over budget if the boat's propulsion is questionable.

If the boat is far from your home and you know the model well, it might make more sense to have a surveyor inspect it before you do, since travel expenses can quickly add up to more than the price of a survey. If a number of boats at a nearby repo center interest you or there are several locations to check out, line up a surveyor and call him in when you find a good candidate. I recommend meeting the surveyor at the boat when possible. You'll learn something about boats in general and a lot about your surveyor.

If you can't sea-trial the boat, have a percentage of the purchase price put into escrow to go toward the cost of repairs to the propulsion, generator, air conditioning and other systems. The money is released to the seller upon successful completion of a post-purchase sea trial. However, don't count on the escrow covering much in the way of actual repairs, says Klopman.
"Say 5 percent of the purchase price is set aside in escrow," he says. "A new engine or generator, or even relatively minor repairs like a new exhaust system, will quickly suck all of that up. And don't expect yards to be working any cheaper than they did a couple of years ago, when the market was strong. They're still charging $100-plus an hour for labor. Same with the parts needed to fix your boat - they're just as expensive as they were a couple of years ago, or more so."
Some yacht brokers may resist an escrow transaction, since this amounts to holding a percentage of their commission, but it's in your interest to make the sale contingent on the equipment working properly. The surveyor and the sea-trial escrow or contingency plan will reduce your risk. Klopman says he has seen a trend in the last 10 years with a few bad-apple brokers and sellers using dishonest surveyors who will run the engines for 15 seconds in January in New England and call that a successful propulsion check, just so that all of the buyer's money is released to the seller.
Dollars and sense
Boat auctions can be live or by sealed bid, in person or over the phone. One of the biggest auction companies, National Liquidators (www.yachtauctions.com), uses a sealed-bid system to sell its inventory. The firm - headquartered in Fort Lauderdale, Fla., and with Midwest and West Coast locations - sells bank repossessions, foreclosures, brokerage boats that need to be moved and boats seized by the government for non-payment of taxes, drug running or other offenses. It even offers financing.
National Liquidators recommends personal inspections and takes the additional step of requiring that you talk to one of its 10 brokers to go over the boat before submitting a bid so you know what you're getting into and head off any surprises. It also encourages you to bring in your own surveyor.
National Liquidators also will facilitate a sea trial, charging a $500 fee that includes the services of one of its captains. If the boat doesn't pass, you get your deposit back, though not the sea trial fee. The company says its bigger boats are often in the water and ready for demo, though the smaller ones usually are not. It says most of its boats are less than three years old and usually sell for close to book value, so you pay for the extra assurance its sales process affords.
"It's important to do business with a reputable auctioneer," says Milardo, the veteran salvage management company owner.
When it's time to make your bid, don't be afraid to start low, Milardo says. "If it's not accepted, the bank may come back with a counteroffer," he says. "Its sole objective is to recoup its note and the repo company's expenses."
Milardo continues: "However, there's often a long delay between an offer being made and the seller, usually the bank, responding to it. Banks don't always have their act together when it comes to boat liquidation, so it can take awhile for them to figure out whether an offer is acceptable or whether they should they wait for a better one."
Of course, someone might outbid you, but that's the name of the game. Chances are that if you are an earnest buyer and your offer is reasonable on today's market, eventually you'll find a boat at the right price.
Klopman points out that boats are selling for around 20 percent less than they were a couple years ago, so that's your real pricing baseline. If you see a boat you figure is 40 percent off its normal value, then you're really getting a 20 percent discount from the depressed market price. The bottom line is you're assuming a lot of risk with a repo boat, so for the deal to make sense the purchase price should reflect your added exposure. In round numbers, this may come out to around 40 percent off the boat's retail value.
Milardo says there are so many popular production boats from 21 to 34 feet in the normal retail pipeline, let alone on the repo market, that their value is considerably depressed, and that's not going to change anytime soon. "Buying in this class at auction should deliver a boat for dimes on the dollar, and that's a big problem for high-volume boatbuilders, whose biggest competition is their own new and used late models," he says.
Keep in mind that the various boat blue book values may not be worth much in this "Great Recession." The same goes for the prices you see on some of the broker Web sites; I'm told the actual selling price may be artificially inflated to make it look to future clients like the broker got more for a past sale than he actually did.
Klopman recommends working with a good broker or dealer. "Tell him what you're looking for and let him find you a suitable boat - the best combination of price and condition," he says. "There are plenty of great deals to be found working through dealers and brokers, and the original selling dealer, especially, should know the boat's history. Paying more up front could be a far better deal with a well-maintained boat that's been regularly updated and cared for by the selling dealer than the same boat that's been neglected for five or 10 years and selling for 40 or 50 percent off. That's because your risk is essentially zero - you know what you're getting, and you have a boat you can use right away, which is the whole point."
Sounds like good advice.
The repo calculus changes if you buy a boat at a deep discount, say 40 to 50 percent off and you can do the fix-up work yourself. Your time is worth something, so don't leave that out of the equation. One approach is to find a 10- or 20-year-old Viking, Tiara, Hatteras or similar well-built boat and have the essentials (propulsion, electrical, electronics, etc.) taken care of - for anywhere from $100,000 for a smaller Tiara to $250,000 for a larger Viking or Hatteras. The end result could be a reliable, comfortable three-stateroom, two-head boat you and the family can enjoy for many years to come.
Conclusion
Given the state of the economy and the marine market, there may never be a better time to buy a boat, whether through a broker, dealer or at auction. Go slow and wait for the right boat at the right price, and find a top-notch broker or dealer - and surveyor - to help. Keep your time, abilities and tolerance for risk in mind when making a decision. Prepare for the worst and hope for the best. Saddle up and enjoy the hunt.
Eric Sorensen was founding director of the J.D. Power and Associates marine practice and is the author of "Sorensen's Guide to Powerboats: How to Evaluate Design, Construction and Performance." A longtime licensed captain, he can be reached at eric@sorensensguide.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
This article originally appeared in the February 2010 issue.

Need a boat loan for a repo boat? visit www.boatfinance.com to apply.

Reposted By: Bill Schrama

Tips for Fishermen & Boaters

(courtesy of Reef Relief)


Practice good seamanship, and safe boating. Maintain a safe distance from other fishermen, and divers. Do not troll over or near divers. Stay at least 100 feet from a red and white diver down flag and watch for bubbles.

Know and observe size and catch limits; release any fish you can't eat. Florida law requires a fishing license. Applicable size, bag limits, and seasons must be observed when harvesting seafood. NOTE: Avoid throwing fish carcasses and wrung lobsters overboard or into canals, as they decompose and degrade water quality.

Use reef mooring buoys if available. Otherwise, anchor in sandy areas away from coral and seagrasses so that anchor and chain do not drag or grate on nearby corals or tear-up seagrass beds.

Accidental boat groundings damage the reef. Consult tide and navigational charts and steer clear of shallow areas (shallow, seagrass beds appear brown in color). Accidental boat groundings damage coral and seagrasses, and fines are imposed for such damage. Remember, "Brown, brown, run aground. Blue, blue, sail on through."

Avoid disturbing wildlife, harassing fish and invertebrates; it only makes them wary of people.

Keep boating speeds and noise to a minimum, and avoid boat wakes near isolated mangroves. When in a diving area, slow down to an idle speed.

It is illegal to dump trash at sea; plastic bags and other debris can injure or kill marine animals. Try to retrieve fishing gear and equipment, especially monofilament line. Bring your trash back to shore and recycle it.

Camping, campfires, and collecting of any kind is prohibited on all National Wildlife Refuges. Personal watercraft and airboats are prohibited in all National Parks and Wildlife Refuges in the Florida Keys.

Posted by Bill Schrama

Need a boat loan? visit www.boatfinance.com