[Rhodes22-list] What Stan Does ...

[DCLewis1 at aol.com]

Ed, 
 
Re getting something written down regarding refurbishment.  You may be  
right, but it seems to me that there are certain guidelines that would clarify  
what refurbishment means at GBI, and also baseline what the purchase  represents. 
 For example:
- Is there actually a written warranty?   I suppose I’ll find out this Sat, 
but as I sit here, I don’t know.  If  there’s not, it might behoove Stan to 
think of a suitably weasel worded document  - for his refurbs.  Just having a 
copy of that document on GBI letterhead  might help underwriters understand what 
they’re dealing with when they are  dealing with a refurb.
- Are there specific checks that every refurb goes  through?  I really don’t 
know.  If there are, it might give  underwriters a sense that this old hull is 
almost new again.
- There are some  things you can say about the refurb process, I think. For 
example, the basic  price of each boat to be refurbed will vary depending on 
the configuration of  the specific boat, it’s condition, and it’s age.  To the 
extent that an  existing system or part on a refurbished boat is in good 
operational order it  will not be fixed or improved, however, where deficiencies 
are noted they will  be fixed, those costs are part of the basic price of any 
refurbished  vessel.  The basic refurbished vessel will conform in all respects 
to  the terms of the refrub vessel warranty.   If the purchaser desires  
improvements to working systems on the vessel,  they may, at an additional  cost, 
have GBI effect those improvements as part of the refurbishment process  and it 
will be done to factory specs and an explicit part of the factory  warranty.  
Examples:
- You want captain seats and they don’t exist on  the refurbished boat, GBI 
modify the boatplan as needed and buy and install  seats GBI specifications 
(i.e. now part of the warranty).
- You want an  IMF and it doesn’t exist on the boat to be refurbished, GBI 
will buy and install  an IMF system to factory specifications (i.e. now part of 
the warranty).
-  You want a UPP and it doesn’t exist on the boat to be refurbished, GBI 
will  build and install a UPP system to factory specifications (i.e. now part of 
the  warranty).
 
There could be an options list for upgrades, just as there is an options  
list for new boats, realizing that some options just don’t make sense because  
they are already part of the basic boat to be refurb’d.  For example, our  basic 
boat to be refurb’d came with 2 batteries on board - no reason to pay for  
the installation of a second battery, it’s there and in some real sense the  2nd 
battery was part of the "basic" package.
 
These possible upgrades may, or may not, be cost effective, but they do  tell 
the prospective buyer what the process is.  You start with the basic  price 
and whatever is on the boat to be refurbed and you add or subtract as  
appropriate.  You give the prospective purchaser or underwriter a price  list that 
lays it all out.
 
Just having a written warranty and something like the material above  
expanded on and written down on GBI letterhead with a supporting options list  and 
prices would help justify the price of a refurb to insurers.  Also, it  would 
make any explanation of the difference between an 89 refurbed in 06  (89R06) and 
an 89 never refurbed a whole lot easier and meaningful.
 
I don’t recall this being on the GBI site.  As I recall what’s there’s  just 
a teaser to call Stan and find out more.  He might save himself a  lot of 
useless phone calls, and prospective purchasers and certainly  insurers  might 
get a quicker appreciation of the GBI refurbishment  process, if he had 
something like the above on his website and available as  hardcopy for insurers.
 
JMO, and it really doesn't matter because I'm sure Stan is going to do what  
he want's to do.
 
Dave