[AlexT]

gf, I don't think you can determine the market value based on what the owner has into the boat. Value is more a function of comparables. Everyone knows you don't get your money back out of restoring a boat, and that includes repowering and updating the other bolt-ons.

That said, the owner may have a set a price below which it does not make financial sense for them to sell. I'm going to be that is the case here. I bet if they don't get $19k or so for it they'll keep it a few more years until they've gotten value out of the updates they've performed.