How to Value Your Formula


Divergirl

Divergirl

Member
Hi All....long time no talk. How is everyone on this forum?

I have finally decided to part with my 2002 41 PC, Divergirl. She is a great boat but, all of my boating friends have left Florida and, a few have passed away. Life changes for everyone and so it seems post Covid.

The problem is that there are no comps out there. There are a lot of 40 PCs for sale but, very few 41 PCs. I found a 2002 40 PC in Pensacola for $149,500...diesels, more hours than mine....one 2002 41 PC here in Pompano but not anywhere near as clean as Divergirl....$118,900. There is a 2002 41 PC in Mass, same diesel engines, more hours, $98,500...no idea on condition.

I called my ins company and they said they have a FMV of $147,000. The numerical values are all over the place. Here is a questions...my boat has EDC, electronic drives, 2 throttles. I do believe this was an upgrade...anyone know? Most of them have 4 throttles and linkage.

Would appreciate any feedback possible.

"tanks",
Divergirl
 
Divergirl,
Good to see you back. The book values in my opinion are created for dealers to justify the low ball offers they offer. I use those values as a guide but how a boat is optioned out and how it is taken care of also matters. Fresh water over salt should bring more value. I think 15 percent more for fresh water is fair. Canvas condition, upholstery, cosmetic damage also plays a big part in value. Diesels hold their value even with high hours. If electronics are original, this may lower the price but if upgraded to latest technology, the asking price should reflect the increase in value.
Only you can judge the overall condition of your boat. If I had to guess, somewhere in the 150K range would be a good starting point for a well taken care of 2002 41PC. You can always go lower if you choose. Good Luck!
 
Divergirl, you and the boat have been through a lot, but do understand things change.

You just got that 100 Ton Lic, going to start Captaining a cargo ship or tanker, maybe?

Agree with Gsent, if your not in a hurry start around the 150 range. The big issue is getting someone to notice a 20+ year old salt water boat. You have taken great care of her, but folks looking need something to catch there eye to take a closer look
 
Our 41PC is a 1998 and freshwater. It is insured for $190K but we have done extensive work upgrading it. New canvas, new cockpit upholstery, new electronics, swim platform extension, SeaDek, bow and stern thrusters, new aftercoolers and a whole lot of more minor work. See if you can get a broker to check soldboats.com. Unfortunately you have to be a broker to get on the site.
 
Hi Everyone....so glad to hear from ya'll! We are all part of the old Formula group! I miss chatting with everyone.

No AllDodge....not taking on any captaining gigs. It's just me losing lots, not lots, all of my boating buddies. Life in south FL is not the same anymore. And, with all the environmental changes, the seas are not the same. When I moved to FL in 1992, I brought a 30 foot, I/O, single screw with me. I was out on the water almost every day. The Atlantic was dead flat almost daily...100 foot viz...not uncommon to see a pod of dolphin or several large sea turtles. Not anymore...those days are gone forever. More likely than not, there are huge winds, craft advisories, no viz, no animals. I hardly use Divergirl anymore. I guess it is someone else's time to enjoy her.

You are all thinking along my terms, as far as price. I have not only replaced everything mechanical needing replacement through the years, the canvas is replaced every 5 or 6 years, including mooring cover, upholstery replaced, and, because I keep the A/C on 365/7, the interior is in great shape. I added radar, a bottom finder, replaced 3 TVs, the refrigerator, A/Cs 4 years old. The broker said, "you don't have one stain on the interior carpeting...amazing". The Volvo Pentas have 1,100 hrs., and the gen (Kohler 10k eoz) has 1,564 hrs. The gen was rebuilt a few years ago...if anyone recalls, whoever was servicing my boat through the years, never checked the gen oil because, apparently, they don't like opening the hard sound shields. So, the engine seized and scored it in a certain way that I had to go through 5 or 6 gen repair places to find a guy who out of his garage turned shop, only fixes & rebuilds generators. The guy is 70 years old and still going strong. I got rid of the hard sound shield and had a custom soft sound shield built which has a bunch of velcroed openings for service.

Can anyone provide me with a bit of knowledge as far as the controls? Divergirl has EDC, electronic controls, 2 throttles. Most of these boats, when I see pics of the cockpit, have 4 throttles and what I have heard of as manual/linkage controls. I have never understood this. I am not sure if this is a plus or minus. As far as I am concerned, I love the electronic controls. I contacted Formula to see what came as standard on that boat. I thought the diesels were an upgrade, as well as the EDCs but, they say that the boat was built with diesels and EDCs. Then, why do I see Formula 40 PCs and 41 PCs out there with gas engines and manual controls? Here is what Formula had to say:

Barbara Jean,

I meant to say that the Volvo TAMD74P installed for your boat was standard with no upgrades and your boat had the Volvo Shifter/throttle combined option.

We did offer other engine packages and with them came different shifter and throttle packages.

Our records show the 2002 41PC was available with the following engine packages:

Volvo TAMD74P EDC DSL

Cummins 450 DSL

Mercury 8.1 S HO INBD W/CWC

Cummins 480 DSL

I appreciate all of your comments & advice everyone!

"tanks",
Divergirl
 
PS: My broker just called. He did go into soldboats.com. There was nothing, even going back several years. That is why we are having a hard time pricing it but, I agree with you guys or gals...start at a buck fifty and if there is no interest generated, make a drop.
 
Hi All....I am selling my Divergirl. I thought I did a post on Formula Boats for Sale on this forum, but can't seem to find it. Anyone see it?
 
You must log in or register to reply here.
Back
Top