Is it worth the investment?

[jpwhite24]

Thanks for adding me--I just joined. I live close to the water, north of Boston. Last summer I was at a local dock and someone pulled up to drop off his kids before heading to his mooring. I loved the boat and said that is just what I am looking for in a boat--simple, with plenty of room, but not too big. His was a model from the 70s and he told me it was a great family boat, he had it for the past 15 years and loved it. Two weeks later a 1990 Osprey 200 (195 or 196 ??) with a 2002 90hp Mercury was posted on Facebook Marketplace for 5k. I took it for a test run, compression was great, and I bought it for $4.5k. We had it in the water for two months before I pulled it in October to be winterized and stored. In June, after painting the bottom, we launched it and had four good runs until we headed up to Gloucester one day (about 12 miles north) and the engine cut out there. After towing and two weeks at the marina they thought they had it fixed. I headed to our mooring and broke down right before entering the harbor (it ran great for 30 mins) then cut out and would not start again. Towed again and back at the marina for two weeks before they told me it lost compression and the engine was shot.

 I decided to re-power with a Mercury 115 but all the ones in stock in the area are 20" not 25" XL shafts. So, now I am being told I can order one, and it will arrive in December. I've spoken to a couple places about it and both have told me they think that if I am going to re-power, I should address the gas tank situation. When I bought the boat, the owner told me he had bought it years ago and the previous owner told him the tank was taking in water so he switched to an external tank--that is all the previous owner used. Both places that have looked at it have said that to re-power they are going to already have to pull the center console and wiring so I should at least look to see what the situation is with the tank. They indicated it could still have old gas in it or could be taking in water. They also said that the boat was designed to have the weight in the tank vs. the external tanks at the back and while I can keep those instead, with the added weight of a 4 stroke and fishing off the back, I may find more water coming in.

So now I have to decide, if I have them move forward or try to sell the boat as is. I knew I would eventually have to re-power but did not think it would happen this soon and was not planning on replacing the internal tank. With the new engine, components, the tank and labor, I will likely be spending 15k+. When I look at boats in the 20k range in my area, I am not seeing much other than older boats with engines 10+ years old. I am at a crossroad and wondering if you think this boat (the model in general) is worth trying to bring back to life. The console and seats are worn and it does not have a Bimini or T-Top. That said, I like to boat and how it handles and I would have a new engine under warranty and a new tank. The transom is strong and the floor is pretty good -- a few soft spots where the tank access is, which would be repaired. Some people have said to cut my losses, others said its worth it. I know I obviously have to decide for myself, but I am wondering thoughts by others who own the boat. I have an 89 Volvo 240 I put money into and use it as a daily driver--it is a tank and worth the money I spent on repairs, despite being 33 yrs old. I know that car in and out and knew it was worth the investment. I am not comparing the car to the boat, but drawing a parallel to the situation. The issue is that I do not know this boat nearly as well and am leaning on those who do to share their thoughts.

If you made it this far, I appreciate it. If you have any thoughts, I'd appreciate input as well.

Thanks.

[Capt. Bob]

1990: Your tank is toast. Plain and simple. Cost to replace is governed by the size you want and who does the work.

2022 model outboard on a new 20' hull. I can't tell you the cost because it's nothing I ever look at. Still, I invested $16K in 2018 on my 1991 hull. I had replaced the tank in 2010. I like the hull and it fits the type of fishing/use that I do. It was a very logical choice for me because I never look at a boat as an investment. I don't use it to make a living so....it's just a disposable income "toy". That is how I justify spending the money.

You haven't had the hull that long but it appears to fit your use so that might be the best factor in putting money in an old hull. There's also the "warm and fuzzy" one gets (for the most part) with a newer power plant hanging off the back.

Good luck.

[dbiscayne]

Just something to consider, I priced an aluminum tank recently, was incredibly expensive. Moeller has a lot of sizes of poly tanks for reasonable $$$ and are a time proven alternative.
If the rest of the boat is in decent shape, I'd rather invest in a new engine than spend the same on a different used boat/engine combo. Just my opinion.

[jpwhite24]

Thanks, Capt. Bob. Yes, investment was not the best word choice! I don't use it for work and know it is a liability vs. asset but just don't want to put money in if it doesn't make any sense. Just hearing that you felt confident enough to put 16k in your '91 is reassuring (as is this whole community of enthusiasts). I agree that a new engine would make me feel a lot more confident on the water and would lead to more time using/enjoying vs. fixing the boat.

I appreciate the perspective.

[jpwhite24]

Thanks dbiscayne. I'll look into the Moeller tank--would probably save a lot over fabricating a new one.

[rocket88]

...my two bits worth, for what they're worth...

I bought a 1973 Aquasport 222 I/O this past winter, sight unseen. I knew that it was non-functional, but that was irrelevant. It was, however, original and unmolested, which is what I was looking for. I fully expected to have significant repairs/updates to make on what amounts to a 49-year-old boat.

Because I truly want a vintage Aquasport, it is entirely worthwhile to me to make the effort and expenditure to make this boat seaworthy for another 49 years. If owning a vintage Aquasport is not that intrinsically appealing, there may be better economic choices to consider.

A word of caution; "a few soft spots in the floor" is usually the tip of the iceberg, in my experience. My suggestion would be to thoroughly assess the boat structurally as part of your re-power/re-tank cost/benefit assessment

+ 1 on the suggestion of a Moeller plastic tank over an aluminum replacement.

Best of luck!

[jpwhite24]

Thanks, Tom--I appreciate the feedback.