PDA

View Full Version : What is she worth, $$$ ???



Robert Geoghegan
12-12-2000, 08:04 PM
Three years ago I purchased a 1967 28' Magnum raceboat which was run under the names of "White Knight" and "Hustler". Previous to it being raced by Billy Martin as "Hustler", Don Aronow raced it as "Maltese Magnum". (We've all heard the line "it was Don's boat", but I can prove it.) Anyway, a friend was looking at the hull which I'm restoring and asked "What is it worth?" I thought I would ask the experts- Owen, Olredalert or Bertramboy,just to name a few, All of whose opinions I've grown to respect,.
On page 75 in "Searace" or in "The King of Thunderboat Row" pages 72-73 and page 83, there are some beautiful photos of the boat I'm restoring.
There is no hardware on the boat, all fuel tanks, drives, gauges had been removed long ago. The hull is in great shape without stress cracks, blistering or spidering. The hull is ready for either paint or Gelcoat. The deck on the other hand was shot. The deck was balsa cored and water saturated. I've replaced most of the deck with Dura Core Strips and glassed over it.
Although the boat is considered a Magnum, on the side it says "Magnum-Donzi".
All of your input is appreciated, so What is she worth??

Forrest
12-13-2000, 09:57 AM
Robert! What a find!!! Even if you don't use it, you can park it in front of your house and Don fans from all over can come over, drink beer, and worship it! You may be able to even charge admission!!! But seriously, that boat is truly worth what someone is willing to pay for it. You never know, some co-founder of Microsoft may want to buy it all restored to put in his TV room. I wonder what he would pay? Anyway, you should contact Richie Powers at Magnum Marine (http://www.magnummarine.com/) and definitely join the Magnum Owners Club (http://www.magnummarine.com/ownerclub/owner_fr.html).

Also, please post a picture or two.

------------------
Forrest

[This message has been edited by Forrest (edited 12-13-2000).]

Eugene Nahemow
12-13-2000, 02:09 PM
Robert,
There is a magazine called Luxury Media's
"Showcase". In the October issue they had two very interesting articles. The first one being newer collectible boats(post wooden).
The first boat under collector's Items was?
You guessed it... Magnum speed boat.
I quote:
27 Foot Magnum Speedboat
value range: $100,000-$250,000
unique aspects: Every Magnum is built like a raceboat and is intended to do three things: go fast, last virtually forever, and turn heads. The 27 foot Magnum is an all purpose sportboat suitable for fishing, diving, high speed use, or just cruising.
Flaws: High initial cost, high operating cost due to fuel hungry engines, complex powerplants, and drivetrains that require ongoing maintenance by skilled mechanics.
Quotable: "no two are alike, making everyone collectible the minute we launch it,"says Richie Powers, Magnum director of operations and seven time champion of the American Powerboat Association.

The second article was about New boats that hit the water as collectibles. The opening to the article was none other than the 38 foot Donzi Daytona.

I have just completed a restoration on a 27' Magnum sport, and these are just my own thoughts. To date I have approximately $70K into the boat including the cost of the original purchase. I am not a novice to boating but am also not a boatbuilder or mechanic so the work was all done by qualified professionals.(My time was best spent making the money to pay for the restoration) Although, I also have countless hours taking off hardware,get things rechromed, upholstery work, etc.,etc. Do I think the boat is worth 70K + ? The answer is definitely.
Do I think others would buy my boat for the amount that I have into it? Probably not.If you go to Magnum's website and look in the classified ads you will see most Sports and Maltese in the 30K range.
Your boat might have some more history and be a little more unique, but if it was set up for racing then creature comforts were also not a priority. I find most people looking for these style boats today are wanting the speed but also want the luxury of swimplatforms,sunpads,cuddies, etc.
I would love to think that the values posted in the article were real, but based upon what I have seen think they are inflated.
So what does all this mean..... Have fun building your boat and enjoy using it knowing you have a great boat with some history behind it. Too bad you and most of the members of this group don't boat on the west coast. It would be fun to run with you.
By the way, if you are interested my boat can be seen in the registry of:thunderboatalley.com We need more Magnum owners and posts.
Regards,Eugene

Staffan Berg
12-15-2000, 08:40 AM
Hi Robert
Dont think about the boats value. What is the value for you.
When Don Aronow raced in Sweden 1967 he sold his Magnum 27 to the Bogahammar family (famous boatbuilders in sweden) This boat was restored few years ago. Last year the owner asked 55K for the boat but took it away from the market before I could have a chance to buy it. I found another one in Monte Carlo (Monaco). I bought it for 6K and will put in another 50K before I have restored it to what I think is a very nice condition.
I will also put in 100 of hours of my spare time.
The market will probably not value the boat as much as I do myself.
I will be a proud owner of one of the worlds famous boats ever build.
I compare it with a Jaguar E Type car.
So Robert - just go for it and be a proud owner the Magnum.
You are not alone.
You are bringing a piece of history back and creating a memory that you in the future can tell your grand children.
What is life - it is those crazy moments when you decided to make something unexpected.
Good Luck.
Staffan
(My Magnum 27 with hull no 178 is right now at the paintshop (awlgrip)).

waleyetwo
12-15-2000, 08:52 AM
try randy hale .hale propeller in conn.he knows the boy's at magnum and is doing a project now he's doing a arnison drive 27ft magnum.