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How much money did it take to restore this 1978 Carver Mariner 3396? In this video we go over the cost to get the Carver yacht back on the water and what it cost to operate the boat for the first year.
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Hey guys, in our previous video we took this 1978 Carver yacht and saved it from
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the scrap heap. Today we're going to show you just how much money it took to bring
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this classic boat back to life. So before we get started I just want to say thank
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you for watching our previous videos. We've gotten a lot of great comments and
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ideas from viewers just like you. So please feel free to make a comment below
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and hit subscribe and support our channel. So last year we bought this
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1978 Carver for a dollar. Of course it took a lot more than that to get it back
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on the water. Everybody knows that boat is acronym for break out another
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thousand. You've probably also heard the term the best two days of your life is
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the day you buy the boat and the day you sell the boat
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So now it's January on the Upper Mississippi. The Carver is all wrapped up
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and put away for its long winter's nap. So I thought it'd be a great time to go
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over the numbers and let you decide if this was a good investment or if I was
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just throwing my money away. The last time this boat sold it went for $18,000
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So I had a general idea of what my budget was on this project. So let's jump
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right into it. So our first category is going to be cost of acquisition. You
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should know by now that we paid a dollar for the boat but it had been sitting in a marina for multiple years and it accumulated a fairly large bill
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We ended up having to settle with the marina at a reduced discount of about
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$2,000. That included the storage fees, the winterization that they completed, as
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well as launching the boat that spring. We also had to transfer the title and
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place sales tax. That ended up being about $100. That gives us a total
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acquisition cost of $2,101. So our biggest expense was the engines. We had to completely replace the starboard
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engine. The engine cost was $3,125. We also got brand new exhaust
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manifolds and risers and that was $1,133. We put brand new batteries, brand new starters, fuel filters, hoses, clamps, you name it, we put
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it into the engines. So the total cost to get the engines both running and in good
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condition was $6,274. Our next biggest expense was the bottom paint and that
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includes all the sanding and removing of the old bottom paint as well as the
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repair of the hull. We used Interluxe Interprotect sealcoat. That was $500 and
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then the anti-fouling paint was another $501. We've got painting supplies of
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about $160 plus some miscellaneous expenses. So a total bottom paint cost of
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$1,606. So the last thing we had was some miscellaneous expenses. Things like our
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dock lines and fenders, the shore power cables, canvas repair, cleaning of the
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teak, and the wiring electrical supplies and those totaled $850. That gives us a
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total cost to get the boat in the water of $10,832. So the price of the boat is one
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thing but we also have operational costs. Our biggest expense there is going to be
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our marina slip fee. The marina slip fee was $1,805. Electric and water at the
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marina was $150. Our insurance cost was $278 which also included a $300,000
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umbrella liability policy for the marina. Our fuel expense for the summer was
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about $400. So that gets us through to the fall. So now to winterize the boat
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and to get it out we've got a left out fee of $200. We've got an outdoor storage
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fee of $600. Winterization is about $100. I did that myself. And the shrink wrap
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which I also did myself costs about $200 in shrink wrap. So that gives us a total
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cost for the boat for the year of $14,565. So there you have it. Was the boat
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worth $15,000? A quick search on BoatTrader.com gave me these two Carver Mariner 3396s priced above $15,000. And a search on the NADA book
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price gives me an average retail of $14,690. So spring is right around the
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corner and we've already got a list of repairs and updates that we're going to do for the Carver. So yeah we're gonna put more money back in the boat. But
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we'll talk about that next time in our next video. So man that's a pretty big
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list. We're gonna need a new generator, water heater, chart blotter, VHF radio
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depth finder, countertops, upholstery, canvas, we're gonna need a bow thruster
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