These are great old boats but have severe restrictions in regards to investing. I could go in depth,,but choose not to. Buy it, restore it, enjoy it, but consider it to be a zero sum gain . If it were otherwise,,,,I'd have one.
I've been in boats all my life, and know the value of using one, and taking that into consideration.
I buy all kinds of things and do my best to limit my losses. I bought a 2008 Buell that was 12000 new and I bought it in mid 2012 for $4000, which is low enough that I should be safe with it for a while.
Boats are great at losing money, I lost on them before and I made some and some I wrote off for entertainment value.
I saw the one for $4850, its got an old 90hp Evinrude, and an incomplete interior that needs finishing, but I think its a little high for that price.
I'm still looking for any signs of a Cruisemaster that made it through a complete restoration and had a good motor on it, I'd go with something like mid 2000's or a decent 4 stroke and would try and get a 140 on it for some extra oomph.
I'm trying to get on the Yahoo Lone Star group, but no reply in 3 days, they probably think I'm a spambot, even though I wrote a pretty detailed intro.
Like Unclebuz said, a 20% loss, which wouldn't be bad, but say I buy the one for $4850, drop a motor on it, sell the 'rude, put a decent one in its place, finish the insides, I'll probably be in it for about $8000-10000 in real money, so losing about $2K would be OK, but has anyone paid $6000-8000 for one? Ever? I just don't see the value in someone spending that much, and aluminum scares a lot of normal people away...
The thing to remember is that the use of the boat has value too. I would hope that you are fixing the boat up to use. If you take it out a few times that should be worth something to you. You're not going to make a profit straight out but it isn't the bad investment a new boat would be. Lots of people somehow justify buying a new boat, the Cruisemaster should be much easier to justify than that.
Lots of things are bad investments, cars, motorcycles, restaurant's. You just need to go into it with your eyes open, understanding and being able to manage the cost. Every once in a while you might come out ahead but don't plan on it.
I'm wondering if anyone has ever even finished and is using a Cruisemaster?
I'd love to know if one has ever sold for a high price, in good shape.
These aren't exactly what the average boat buyer wants these days, and its easier to just go and make payments on something new and have new everything, so I'm up against that- well, we all are when we go to sell these, but its a small niche market and I like it that way.
I saw the one in KY, and I know of one here in Florida, was supposed to be an old PT boat or something- maybe the CG used it for something...
They're cheap because not many have the knowledge or love for them, but I think I can handle it.
Any info on a completed and sold one would help! Thanks again!
Rarely, but some may be able to find a sponsor prior to the project beginning.. Someone w/ money but without the time, space, ability or want to attempt a larger boat resto.
I know of 2 tin boat builds that are/were done this way. But they were budget builds, on smallish 15-18' boats. But all parties got what they needed out of it.
Not easy, and both of those builds happened almost accidentally, and were friends of friends of the guy doing the work....
There was (is?) a 21' Cruisemaster for sale in Louisville, KY that I wanted to go look at, but I could never tow it, so it was never going to get hauled home w/ me.
It was missing the OB bracket, that was original from the factory, many (most??) people I've heard talk about LS Cruisemaster's / OB's WANTED it to have the original bracket. Else they wouldn't consider it..
Check out the brochure page here:
^^^ just some things to think about.
Nice boat though, I like the looks & proportions of it :ugeek:
Has anyone seen a completely restored Lone Star Cruisemaster sell over the past couple years, has anyone even done one? If so, I'm interested in what it brought.
I know it will be a loser, I'm just curious how big of a hole in the water it will actually end up being. I have access to everything at below wholesale prices through a distributor, and can do most work myself, so if I have one complete and really nice with say $5K in it, will I get hammered badly when I sell it?
HeavyDuty, I had a boat several years ago I needed to sell but I had no idea what to ask for it. I knew a local guy who bought and sold boats for a living. I asked him to come look it over and give me opinion as far as an asking price. I ended up getting more for it than I thought I would. Just a thought.