Value of a partially built Tiki 38

[Axel]

I have come to the sad place where I have to divide assets and move on. One of these is my 3/4 complete Tiki 38. I am trying to find any references to similar Wharram incomplete projects for sale, not necessarily exactly the boat so we can give it some sort of meaningful value. 

If anyone has any old ads or has some experience here, I'd appreciate the help.

thanks

Alex

[boatsmith]

Sad indeed. There aren't many reference points for this. It seems to me that  completed Tiki 38's sell in the $60-80,000 range. Condition and equipment being the variables. The boat will be worth only what you can find someone to pay you for it. Many dreamers will not realize the time and money that went in and will not see the value. This is a good place to let people know. Show us more photos especially current state.  Good Luck moving forward. Maybe you just need a value while you keep the boat and let other assets go? Project boats don't usually sell for the cost of the materials.  Maybe 1/2. These are my thoughts. Peace

[Tam Dl]

My idea of 3/4 built would be two complete hulls, or maybe more.  I think that has some serious value.  I would contact a specialist Wharram broker, as they can add a lot of value for the 10% or whatever, they trade for.

[Axel]

Thanks for the replies. Boatsmith, I am hoping to keep it and find someone who can finish the rest of it for me. It is two complete hulls, beams, decks, mast cases, engine boxes, hatch covers, ply/epoxy water tanks, interior basic fittings like counters, shelves etc. and a few other odds and ends, including most of the material needed to complete it. 

I did see a similar stage T38 on Ebay a couple of years back. I don't think he got a bid at 10K. Not sure what happened to it. I can try to take some fotos this weekend to give a better idea.

[boatsmith]

Alex, I hope you can work it out to keep it. You have a chunk of your life invested and you have come a long way. It sounds like more than 3/4s of a basic structure. But the systems and rigging and sails will eat money. We are delivering our Ariki 48 to CA in October, we will have trucks coming back.

[doug nisbet]

Hi,

Where is this boat located and do you have photos?

[Budget Boater]

Axel,

I am probably the most experienced in this particular arena. There have been quite a few unfinished boats I have purchased or viewed in the past 20+ years, including a dozen or so Wharrams. I do not want to sound discouraging (because your boat is much closer to completion), but there was a Tiki 38 in California that was 35% complete with 100% materials to complete the wooden structure (no rig, engines, cushions, etc.) and he had to give it away after over a year of trying to sell it. The new owners (a couple of 20 somethings) eventually gave it away again when they realized the project was to much for them. Most unfinished boats go for a fraction of material costs. I once purchased a steel monohull that was 97% complete for 1/4 of what it was worth.

Your boat has value of some sort, but moving hulls from central US (I assume you are building in NM), most people find daunting. Then there are those who will always question the home builder's ability and craftsmanship, which generally lowers the perceived value, regardless of actual ability. Piled on top of that is the fact that most sailors avoid wood hulls more than any other, except ferrocement, even though unfounded.

WharramBuilders is probably the best place to find a new owner. Those who want Wharram's generally know what they are looking at, and what to look for. Based on the few photos on your profile page, it appears as if you are reasonably competent, but a closer inspection would be warranted.

If you end up without a buyer, I purchase unfinished Wharrams when they cannot find new owners.

[Axel]

Thanks. After much discussion and thought, I think we may have be able to arrive at a reasonable, compromise valuation that while I'm sure is more than the market value, will allow me to keep it. Various factors prevent me from doing any of the heavy work left to do.

BB, I will call you and perhaps we can talk about options such as me loading it onto your returning trucks in October and having you finish it for me or perhaps being able to help me make arrangements to have someone else do it.

Thanks all for the replies and I really will try to post some fotos to give some perspective. Things are so chaotic at the moment that it has just not been possible.

Alex S

[Tam Dl]

"I do not want to sound discouraging (because your boat is much closer to completion), but there was a Tiki 38 in California that was 35% complete with 100% materials to complete the wooden structure (no rig, engines, cushions, etc.) and he had to give it away after over a year of trying to sell it. The new owners (a couple of 20 somethings) eventually gave it away again when they realized the project was to much for them. Most unfinished boats go for a fraction of material costs. I once purchased a steel monohull that was 97% complete for 1/4 of what it was worth."

I tried to buy a 38 foot tri that was on a great custom trailer, that was actually the killer, I had no idea the bureaucracy that was involved in bringing a trailer to Canada from the US.  It was a really nice motor tri, complete with two Yamaha 9.9s the trailer was worth a fortune, the guy was down to about 13K when I had to pass on it.  Second had stuff is tough.

I am against giving boats away, though if it helps oneself out by getting them off the property, all to the good.  People that don't have any money are not going to be able to handle the project.  Living by the water I see boats move from yard to yard, actually on two waterfronts.  They just decay more and more, and eventually end up in the dump.  The best offer I got for my completed Kurt Hughes 24 at one point was 1K  The parts were worth more to me.  I have used it a few more years, but I may still cut it up as a smaller try could recycle a lot of the original boats parts, even wood can be re-used like the cored decks and such.

My own boat building philosophy is make either something you can'y buy, Harryproa if you want one badly enough, and it really has to be a virus you can't resist; or make small boats you can write off totally, my 24 foot tri cost me less cash than a decent 17 foot Canadian canoe;  Finance larger yachts like you would a house, keep them and flip them.

On my 24 foot tri I used a lot of very cheap materials despite a lot of testing most of the ply ended up being made with non-waterproof glue, and it has been out of doors for decades with really no problems.   The was one rebuild of an aft section, but it probably would have been needed if I had used 1088.  Don't get me wrong, I used quality materials where the loads fell, but there is a lot of a boat that is not all that stressed.  Now that I am 55 I know this boat will last me through, so shoulf I have spent 35 dollars a sheet rather than 7 dollars.  Hard to say.  At the time I had the money either way, and I didn't realize how long the boat would be in my life.  But the boat has been fine as it is, and anything you need to replace is easy to replace.  Not sure there is an answer.

[Axel]

Hi David,

I sent the link to the videos and commentary to you via the company email/contact address last weekend. Did you get it or should I post it again somewhere else? The Ariki looks great BTW.

Alex