This is a beauty .... but a total loss! The owner found his boat sitting on the bottom of the ocean! Would you buy this boat from the insurance company and rebuild it knowing that was completely submerged in salt water?🤔

Great video. My biggest question is: why on earth, with all of the incredible center consoles on the market today, would anyone pay $750k for a Regal??

Looks like a project boat for ‘born again boating’.

Building boats can add up quick. Probably looking at 120k-150k in just motors. So even if you bought it at the salvage auction you better have deep pockets.

Having salvaged several sunk boats I would take this on but the main problems are likely to be hidden, therefore it would have to be really cheap. So many of these production boats have areas that are virtually inaccessible without stripping out the liners, with the amount of water that has been sitting in the interior much of the internal structure is going to be stuffed, so in places you would be going back to a bare hull. Greetings from Australia, Key West is out favourite place in the USA.

The biggest question is - what’s the resale value if it was repaired and the fact that it was under water was disclosed? If you are buying it to repair and resell, what’s the potential profit? If it’s a slim profit, is it worth the time and effort? Someone is not doing their job (certainly at the insurance company Or possibly at the yard) if the the water in the bilge hasn’t been emptied. I don’t know if a boat this big has a drain plug , that would be simple enough to do. At least get a 12 volt pump in the bilge and empty it. And as you said a fresh water cleaning would be very helpful. All the electronics that need replacing speaks to what the down the road maintenance headaches would be in the future even if the boat hadn’t sunk. The motors and such that are required just to gain access to the stern compartment are cool in the beginning and I’m sure help to sell boats. But when you have to shell out $10k 10 years down the road as part of normal maintenance, that’s scary. Builders really need to simplify their builds. And it would seem the owner wasn’t very knowledgeable about how to tie a boat to a dock when the tide is changing. If I owned a million dollar boat I’d certainly have a bilge monitor for water with a cell connection. If I was an insurance company I’d require it as a condition of insurance.

Thanks for sharing. Do you have any idea on how/why the boat sank?

The right approach is to dismantle the entire rig. Remove the engines, hard top, and separate the hull from the deck if possible. Then rewire the entire boat. Save the upholstery for templates and send the parts off to a place like Gioia Sails in Lakewood, NJ for reconstruction. Replace all electrical and electronics, pumps, head, fridges etc. Then evaluate the engines off the hull. They may actually be rebuildable. Huge undertaking and probably well over $150 - 200k.

Love watching what you and your team do. You are masters of your craft. Not an easy task.

$200,000 of value there and $550,000 of repairs if you can even get the parts from the factory

insurance cost would be the major deciding factor , next will regal sell a harness set rather than building one from scratch , all new engines and engine harnesses , and do you have a crew of at least 5 to get it done in a timely matter . rebuild cost will probably 1/2 the boats value

For the right price would be worth it.

oh man what a nightmare, even some things you didn't touch on... like the gas tanks and how long will they last after a rebuild etc... I am sure the owner is devastated... no matter how much money you have that one has to hurt. I agree you need to replace everything I would even go as far as doing the tanks if i was doing it already

Personally I wouldn't touch it, salt water is the gift that keeps on giving. I think the hull and structure are worth saving, but that's it.

It would nice to know what the approximate cost was to repair it on these videos.

Like you said everything has to go. Cant imagine trying to replace it all.. possible to save the hull.

If you got that boat for free, it would still be a money pit.

A $750,000 boat...and I got it at auction for $90,000 I would be willing to put $350,000 into it... So yes I would buy it

As a project boat, I wouldn't give more that $125k because just from what I see and don't see, I'm thinking $575k for parts and labor.

Hi from Australia. I've been watching your channel a few months now. The content is really interesting and varied. Suggest changing the name to "Will Fix That Boat Repairs" as KZfaq will include you in search results that include "Boat Repairs" I hope you keep at it and wish you every success. I loved my visit to Key West 20 years ago.

Hell no especially being a salt water boat. Have a absolute fortune in it and still have a salvaged sunken salt water boat

If I asked how much it cost to fuel it up would you know why I wouldn't consider messing with it under any circumstance?

Were those console vents for AC, cause for 750K, that would be real nice while trolling. And would it need to be rewired if it had sank in freshwater?

As an auto elec, I understand that there is miles of cables in this boat that needs replacing but I'd take it on and rebuild the motors myself if I got the boat under $20k. It's the instruments and the cable that will be the most expensive part but I'd think there's a decent boat to be had here for someone in the know. I think the motors will be ok after a rebuild, providing they weren't running when it went under. Obviously not worth you guys taking on because you probably make better money than the time.put.into this is worth. But for myself, working on it as a weekend project over a year, it would be a project worth doing. Any update since filming? Hope it's had a good salt removal wash.

If this was a simpler boat and bought at the right price , rebuilding a sunk boat can be doable. This boat though is electronics intensive and I doubt it would sell at auction cheap enough to make rebuilding it worthwhile. Even though the hull is in great shape, you would need to replace essentially everything else that is attached to the boat. Maybe $250k in materials if replacing the engines plus another $100k in labor? Would it take several months to do? Plus whatever it cost at auction and transportation costs. And then, you still will always have a salvaged sunk boat.

The deciding factor has absolutely got to be purchase cost. If you can be into the boat for under 75-100k and let’s say your 250-400k in after all repairs and re-powering the boat. You have a profit margin. It’s a beautiful boat. It’s a boat that will sell and if you can complete the boat in a month I see an easy 100-150k profit in the build and possibly even more with the current market on everything. At the end of the day it’s a composite hull. Everything else is replaceable. I don’t have enough experience with salvage boat titles though to give a real opinion on it. This is just me looking at it as a business owner and long time avid boater. There is no hill damage to speak of and if everything from wiring to motors gets replaced I don’t see why anyone wouldn’t be willing to buy a 750k boat for 575-650k. But again I don’t have enough experience on the subject matter to speak to it intelligently.

How did it sink? The hull seemed good?

That is my dream boat. I would totally have it fixed and put 3 mercury 400 v10 on it.

The only way I’d want that boat back is if it was stripped to the hull and everything replaced by the factory. Even then the hull number still has a salvaged title attached to it. As the owner I’d want any sunken boat replaced.

Not a chance. That boat will be a nightmare from this point forward.

If the boat is totaled then the value at best can be 75% of the value of one that has not sank at best. If the value of the boat is $700K x .75 =$525,000 after repairs at best. if repairs material costs $200K then $250K for labor. Leaving $125K in profit. This taking 6 months to complete and making $125K in 6 months is still a huge gamble, storage, lead time for materials, storage/rental and that fact that it will still have a salvage title will not make it worth it. If you bought it for $25K it might sound tempting but as a business, I'd run. the reason why is the electrical runs for wiring and the head repairs, not only that but what are the fuel tanks made of and where are they located at to replace them. This is a boat for someone who doesn't want to pay $850K for a new one AND wants a project, knows how to do the work or someone who does. How you could make $$ is finding that person and have them hire you as a consultant, for $300K they could have a nice boat .... and probably built better than factory since they are doing the job and not some 9-5er.

Race car, horses, yacht…there is no budget😊 sky is the limit😂

Based on my experience dealing with insurance, odds are they will hold the owner responsible for NOT immediately going to work to save as much as possible, starting with the motors. The damage is not done until the air hits it after removed from the salt water; and based on your walkaround sounds like that was not done. Odds are she was also heavily financed so the insurance will go to the finance company and the owner will incur a HUGE loss, and will still be responsible to the finance company for what insurance did not pay. Best guess is whoever owned the boat was a first time boat owner & had no clue or he/she would not have bought a Regal and now probably not another boat and even if he/she did, good luck finding an insurance company that will insure him.

Nice boat, really you couldn't give me the boat that's a 3k to 4k fill up every time you go out, just say everything needs replacement, 10,000$ at auction.

If you got the hull cheap it would be a nice base platform after stripping the whole boat. But I personally wouldn't rebuild what is there.

The only issue with rebuilding this boat is really the price to me. Structurally it seems ok so if I could get it incredibly cheap I think taking a shot at it would be fine. But I doubt the insurance would let it go as low as I would feel good about buying it at.

My opinion is don’t buy. If it was a 22-26 footer, without all the extras, it would be a lot easier to redo. This is a 18 month project plus a place to do the work. Was such a nice boat

His phone call lmao

YES it was found on the bottom at a marina! Yikes you sank one... a lot of work to redo that's for sure.

The hull seems to be sound. What caused the boat to sink? That would be much more interesting to me than the project. I suspect a broken air conditioning hose or a broken freshwater hose and the owner left the boat hooked on to city water pressure while he was absent. I totally agree that there’s a lot that could be hidden particularly the fuel tanks and the fuel and hydraulic systems.

I'd most definitely buy it. It's a great hull setup and since it's gotta be completely gutted anyways you can take advantage of that and completely spec it out to your needs and customize it to what you want it to be

All depends on price. If available as a project boat for right price , then yes i would take it on. But has to be worth time and money getting it done

no sir would not even think about it

I wouldn't take that boat if it was free! LOL!

Lorenzo says: I have a 35 Sport Coupe 2019 and it is very well built, there is a lot of quality construction in my boat. Now this hull is based on the Regal 38 Grande Coupe. $750K for a center console boat is muy expensive if you compare to the Grande Coupe for $50K less. Anyway, make it $75K and put in a $275,000 for repower, open out to the hull and clean it out, Re upholster, rewire and since its new you can get all the harnesses from Regal (I can tell you from my boat they are very well made custom at the factory) new electronics and A/c unit, new head, all new hardware that is still at Regal and end up with a 2020 38 foot monster center console for $350,000. In today's market if you know what you are doing this would be successful rebuild.

Why did a 750K boat with auto bilge sink in the first place?

If I had the right people in my corner for the fiberglass work and cranes at my disposal and the money to buy every electrical harness and accessory the boat originally came with even down to the engines, I would take on this undertaking to put it back in the water for myself and my family. I would more than likely try and separate the top and bottom portions of the boat (not sure of the terminology). Then rewire, replace, and refit all electronics with it separated. Im a Diesel Mechanic and as long as I can get the repair manuals I can fix the engines, that's the easy part for me. I have saved diesel engines that were worse off and underwater longer than those. As long as they didn't try and fire them. If they did that would make my life a lot harder.

Really depends on the price. I'd take it to fresh water after the build. Maybe only put 2 engines this time.

No. That dent you pointed out would worry me.

Good looking boat. Very sad that it sank.

It would be a waste to scrap it. Judging by how the used car market is today, I doubt the insurance co will let it go for less than half the payout and will sit on it until they get their price. In that case, It's a hard pass. I think your recommendation to wash the boat and mitigate further damage is spot on. In the automotive world, something as simple as covering the intake from water infiltration makes the difference between a good used engine, and a boat anchor.

Looking at those skegs, who ever owned this boat had more money than brains. Like buying a used car from someone who skipped the oil changes.

Yes I'm interested

Ok, the wiring & below decks is toast, but I think this guy wants the insurance company to donate it to him. They should’ve jumped on this from the beginning.

that is a total loss, I would not elect to try to repair that Regal, it will be a nightmare down the road.

what made it sink?

If the price was right I would rebuild it. I bought 2 Mercury outboards that were sunk rebuilt them it was expensive but being able to do the work myself was not bad compared to buying new. And I have rewired a sunk boat was not fun and expensive . So yes if it was cheap yes I would

was in kw this winter... saw this thing underwater at the marina i stayed in. total bummer. the story around the dock was that they left the bait pump on. is that correct?

So what would a fair price for a boat like this be from the insurance company? I've read the comments and come up with upwards of 350k to redo. I feel like it would still be worth doing a project like this if you had a good chunk to get started. But not a good idea for a flip unless you had huge resources and help.

Looks like a lifetime of issues!!

This boat sank at our marina. Floating docks. Hmm. Dock Lines got tangled?? 🤔

With enough money I can fix anything.

how can all the upholstery be bad? unless its torn it can be removed washed and let dry

Would be on your boat title like a car- totaled or salvaged title ? If it would have that then no.

So what did they do with That one ?

Depends on the price

Sounds like it needs a healthy dose of C4😂

If it has a composite stringer system, yes at a very low cost.

If rebuilt will it be insurable?

It would be around $150,000 to repower. If you had a good Boat you wanted to repower like a Freeman 42. Trickled down repowernomics, then use the freeman's old engines & you'd have a "fantastic" charter boat if it would pass the USCG inspection and insurance requirements.

Love your channel, but would love to see the outcomes of some of your videos too.

for the right price Ill put three junkyard force 85s on it and rock out ha ha

If it's dirt cheap I would take it in a heart beat.

buy it nop but fix it is easy all new vinyls and electronics are easy to replace and the wires should be fine for reuse the engines are yammaha so a flush should do I did sink one once and this engines don’t die not even the computer suffer on mine but Im curious why did it sink? drain plug? or capsized? because that bottom looks really good

Pass! The insurance company would need to pay me to take it.

The main question is would you have the original title to the boat or would it be a salvaged title

No I'd stay away. Newer boats rely too much on electrical components to make their systems operate. Like a flooded car, there's always a gremlin lurking within. You've got to buy it really, really, really cheap and have the ability to fix much of what goes wrong along the way yourself.

What a beautiful boat.... Insurance should total it.

As a aircraft mechanic of large aircraft that doesn’t scare me as long it was like 1000 bucks

Would love to see Thatboatguy or diy Waterworld fix this up for almost nothing and use/sell

The anchor is still good! So there is that. I suppose there is some math that would make it make sense, but that entire boat will need to be torn down and it would never be 100% again.

So if noone buys it. What happens to it?

I'd buy the boat within 5 days of it sinking and run those engines right away by changing the oil and starting it for 5 min change again, run for 30 min. Start and run for an hour change and good. Salt off under the cool and take all electrical off. Clean and spray all electrical. Under cows and replace whats typical of a sinking. All bilge metals and top metals salt off and oil and treat. All gouges and controls and electronics replaced, all lights that don't work etc swapped out. Tank drained obviously and filed with fresh water. And drained then filled with fuel to the top and additives for moisture. Going to go threw some fuel water separators obviously but should be fine. I figure $50 to 100k in repairs and it should be fine. And that's a personal person like myself fixing it not a company who charged an arm and a leg in labor etc

Should resink it in freshwater first for a good soak LOL

Depends on the price, but yeah, maybe

If I got it for about 30-40k yes…. I have rebuilt a few submerged boats here in FL. One took 5 years. As you drive it systems fail that are not changed. However, I am a mechanic. Not for a newbie.

the only way I would take that boat is at a super deal price , it would be cheaper to replace it IMO , you will always have issues I think

I wouldn't touch it with barge pole,So many variables because of salt ingress.. Put it this way Would chance a trip out in the deeep blue ocean and it dies on you... It's Nota gamble chance I would take.

For the right number sure I would buy it.

Once a boat is under saltwater it's like getting cancer. It might like good on the outside, but inside it's dying.

Living in Miami Florida I would kill to learn about boat repairs as a helper and student

So what did they send you for????

I would buy it if the price is reasonable

Yes I would get it

The issue with the engines aren’t how long they were under water, the issue is what they didn’t do when they got them out of the salt water and let oxygen get to them.

I would get a few force engines to repower it! 😊

It can be done

Yes

If, or after the boat is repaired you have to declare it once sank to any future prospective buyer. No thanks.

I know I can fix that boat. The question is can you turn a profit?