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I can see how it gets that expensive... Look at his overhead. The people, all making decent coin + benie's. (trips to Italy for the crew) The Shop, the insurance, etc. Many seacraft owners have a lot of "sweat-equity" in their rebuilds. Yeah they put 30K into it but they but another 1000 hours of their own time as well. Was it worth it? To them yes, because they loved working on it and seeing it come back. But most of these guys take a hit when/if they resell .
Your best deal in boating is buying a lightly used boat from a person in financial distress right now. Use it until you get bored then sell it for whatever you can and chalk up the expense to memories. New boats are nice but the depreciation is insane and adds more pain to an already painful hobby. Rebuilds are "projects" and require lots of time and $. If you love it then by all means go ahead, but if you can't complete it you are in a deeper hole then when you started. Try and sell a "partially" restored boat today....
Heck just cause you know what you are doing does not guarantee success. Look at J&J in somerset. They closed their doors this year. They had a heck of a facility and some very talented people in just about every area of the business. They also had a list of celebrity clients. I hear the property is up for sale for 6 mil. You could put some condos on it I suppose.
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