The fact that this happens a lot more than you might think be careful. Choosing a reputable Marine Diesel Engine mechanic will solve the majority of these issues when dealing with your power plant history. RPM Diesel Engine Co has a good rule of thumb with a few extra fingers added in for good measure.
RPM Rule 1 I’m sure everyone has heard the saying “there’s no such thing as a free lunch” and that saying will never hold more true for what I’m about to tell you. “There is no such thing as an overhauled or rebuilt marine diesel engine until such has been proven.”
RPM Rule 2 This one is real simple and has been referenced all throughout this blog article. Any reputable broker and or Marine Diesel Engine Mechanic (RPM Diesel Engine Co) will always provide you with a very detailed invoice.This invoice should contain actual manufacturer part numbers associated with an engine overhaul and a legitimate address.
RPM Rule 3 The reading from your diesel engine hour meter have zero value. Just as unscrupulous used car mechanics used to turn back odometers some marine diesel mechanics have implemented similar tactics. The only reason they would do this is at the discretion of a greedy broker or owner trying to falsify data to make more money. So remember if a yacht broker or owner selling a yacht claims to have done a full diesel engine rebuild then do your homework and verify the invoices.
If a seller or broker for the owner doesn’t want to provide legitimate invoices then it might be a good time to do a 180. Consult a certified marine diesel engine professional and they will be able to tell you quickly. If said owner or broker did really have their marine diesel engines recently overhauled or rebuilt they would be extremely happy to show these receipts and invoices. If there is any type of delay or stalling tactics chances are the engines in question might have just had a can of spray paint applied. There should be no reason to rush such a major purchase.
The majority of brokers are highly reputable and they are essentially putting their company and name on the line. They should already have these documents in order before a prospective buyer is even brought to the boat. Tell me the last time you viewed a ten thousand dollar invoice with only a few line items and very little details. A typical marine diesel engine overhaul can easily consist of over 100 line items. Details down to the exact hour per major part and categorized in an easy to read format. My accountant and theirs along with yours always appreciate these extra details. Remember a reliable document and one that clears the air of any fraudulent activity will be extensive for any marine diesel engine rebuild. If your bill only contains a lump sum payment, something might not be kosher. Try to avoid using Marine Mechanics that scribble down an invoice on spare paper. A letterhead with a logo or imprinted company name is good sign.
Having a recent overhaul will definitely affect the bottom line of the sale price. So efforts to move the needle in the opposite direction have become more common. $50,000 invested in refurbishing any part of a boat won’t increase market value directly proportional to that amount. Fresh engine overhauls, of the variety that can be documented by invoices, will raise the price significantly. About 10-15% on average, though this can go higher depending on the desirability of the vessel, and it’s age. Conversely, a pair of clapped out engines will reduce the price proportionally by the cost of overhauling.
