Formula

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BARN FIND

We have all heard the stories about the vintage automobile that was been left in storage for years to one day be discovered by some unsuspecting sole. Well here it is EXCEPT its a boat.

Offered for sale is this beautiful 1996 FORMULA 382 SR-1 and trailer. SO heres the story.

This, vessel is a ONE owner boat that was bought new by its original owner who resided on Sanibel Island in Florida. The boat was used maybe 10 hours in Salt Water then moved by the owner to fresh water on beautiful Lake Cumberland in South Central Kentucky. The boat was used for another estimated 40 hours over the next 2 years of 1997 and 1998. The boat was then put into storage after winterization in 1999. In 2000 the vessel came out for summarization and was not used it again was winterized in 2000, before it set for the next 13 years in storage. Covered and protected from the elements the boat has held up well with NO major flaws to the finish or to the upholstery. As depicted in the photos the headliner in the interior is the only detriment to the cabin.

The cockpit and the original dash have no major flaws and is well equipped for this vintage of a vessel, with its ShipMate 5800 GPS and ShipMate 5300 VHF Radio. All gauges and switches are intact and function properly. The electric foot rest at the helm and first mates seat work flawlessly. The original Gaffrig throttle and shift handles are in excellent condition. The original emergency lanyards are still present.

The cabin has many amenities such as Running water Refrigerator and AC. The boat is equipped with shore power and has an on board Kohler generator all factory installed. The gen has lees hours than the engines approx 20 hrs and that may be a stretch.

The power package is original to the boat with a pair of Mercury Racing 525 SC and Bravo 1 outdrives. Equipped with Stainless Steel 3 bladeMirage props and K plains (Factory rigging) the boat runs a respectable 68-70 MPH. with 1-2 passengers and light load of fuel. The engines came out of storage with 54 hrs clocked on the hour meters. The engines are now showing 72 hrs, all of which are from re commissioning the boat after its long layup. The engines were removed and all gaskets replaced, Carbs were sent back to Holley for reconditioning, Cylinder head springs replaced, all electronic ignition replaced less distributor housings, all fuel related components replaced, fuel tanks drained and cleaned on multiple occasions to insure clean fuel flow. Drives removed and serviced, multiple lake tests to verify running at peak performance, all fluids updated as well. Receipts totally 21,000.00 to verify all maintenance performed to equate to the 18 hrs added to the hour meters after coming out of hibernation. These hours are bothat idleand in the water running up to speed.

The exterior of the boat is a 9 out of 10 with no hull related issues and no color fading in the paint. The confetti graphics are unique and it isnt confirmed if it was a chosen option or if it is a one off custom.

The Trailer is an aluminum I-beam style trailer that has only seen fresh water. The tires appear to be in good condition as the boat has been trailed to and from the lake for testing and that trip is approx 12 miles round trip. It has made approx 10 trips so that is 120 miles with NO failures from tires, brakes or bearing. However they are original 1996-1997.

I hope this detailed explaination of the boat helps in giving confidence to any bidder on this item. It is the intent of the seller to sell this vessel AS IS with NO warranty implied or expressed. The service documents are avaliabe via e-mail to any potential bidder that would like to request them. The boat is currently listed for sale in multiple venues and if sold outside this auction, that would end the auction at that time. The vessel is available for viewing by appointment in Russell Springs, KY. If you would like to contact John Stivers or Jimmy Wilson @ phone or phone please feel free to do so. You can also email email for more information.

A deposit of 5,000.00 will be required within 48 hours of the winning bid. Deposits by M/C, Visa, Discover, or AMEX will be assessed a 3% handling fee.