At this point in the acquisition process I began to keep an accurate record of my costs. With the purchase price, cradle, transport and tax I was already down over $11,600. I figured that a new engine would cost me around the same amount. All in all I figured a total restoration cost between $30,000 and $35,000 not including my labour. At the time of purchase these boats were selling in the $70,000 range but with the recession of the last four years (it is now 2012) boat values have dropped. A37's still demand about $50,000 in reasonable condition. This one will be like new and have an upgraded interior from the normal production boat.
I also started a restoration plan. I knew that I would only have about 5 months each year to work effectively. I estimated that it would take about four years to complete the project. 2012 will be my fifth year, but the boat is coming together nicely if slowly.
The boat will have a new 44hp Westerbeke engine, all new electrical and electronics, new plumbing, brand new linear polyurethane paint on topsides and deck, new bronze ports instead of the standard plastic, all new woodwork, new galley and a renovated and upgraded interior. In addition the boat has a heavy duty transport cradle and completely refurbished bottom. Other additions are a Lewmar windlass, brand new Harken ST46 winches and a host of other improvements.
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