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Formula owners (or anyone else) please chime in!

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Old 06-17-2008, 11:19 AM
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Default Formula owners (or anyone else) please chime in!

I posted this in the manufacturers section, but they don't really see a lot of action, so I decided to post it here as well:


I have been looking for a boat and have found a VERY nice '92 Formula 303 SR1. The owner is the original, the boat has lived in it's own custom 30' climate controlled garage it's entire life, it sits on a 1995 Eagle tandem axle trailer. The boat has been used on a quiet fresh water lake it's entire life, it currently has 265hrs. Motors are the original 365hp carbed 454s (that have been massaged), and original Bravo 1s. Boat has factory installed GPS. Owner has been meticulous with maintenance since new, Mobile1, fresh plugs every season, etc. etc. Ad ons include; Barry Grant carbs with spacers, Barry Grant fuel pumps, Gil exhaust, MSD ignition, Mercury labbed 4-blades, Imco external hydraulic steering, and throttle mounted drive trim control. Boat is SUPER clean! Exterior/interior is flawless. I have been on two trial rides, the boat fires instantly and runs creamy smooth......no drama, zero vibration, and tight as a drum.

I guess my questions are; is there anything specific I should be looking for on this model boat in particular? Did the 303 have any specific weakness? Is there any reason one would try to talk me out of a 303? Lastly, what would be a fair price based on year/hours/fresh water use/original owner/etc.??? I need to stress how ridiculously cherry this boat is......it looks like a museum piece. I am extremely critical, and this boat left me speechless with how perfect it was.

Comments and insight greatly appreciated!!!!!! Thanks.
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Old 06-17-2008, 12:20 PM
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Sounds like a nice find! I just love those older Formulas...especially ones that have been well maintained. NADA retail value would be a good place to start. Then search the net and see what others are asking.

Post a pic!
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Old 06-17-2008, 12:26 PM
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Great boats. The upgrades that he has done are all the right ones too. I have been watching the prices of these old formulas for a long time and what I've seen is the prices have become sandwiched over the last few months. What I mean is there isn't much difference between a basic 272 and a loaded 357. There is much less difference between perfect and ragged out too. Keep all that in mind and look at a few others before figuring the price.

The only weakness I know of in the old Formulas are sometimes the stringers get damp. Get a survey done... I highly doubt that one kept inside with low hours is going to have a problem though.
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Old 06-17-2008, 04:58 PM
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Thanks for the replies, fellas. A survey has been done, everything passed with flying colors.

Anyone know what these boats sold for new?
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Old 06-17-2008, 05:24 PM
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1) you cannot go wrong with a well maintain formula Period

I bought a 272 with low horus for top price, kept it for 7 years and sold it jsut as clean for top price

I bought last year a 336 for retail price froma private party. it was spotless too, and worth it to me
and I plan to keep it for quite some time as well

as you know, the very clean, well maintained boats are hard to find and the expra price is worth the lack of nickel and dime fixing to get it to your standards - that takes a ton of time.

I would say that blue book retail + trailer value is worth it if it makes you smile and something you are proud of
you can always low ball, but don't be afraid to pay retail as I am unaware of any mecahnical flaws with that model

look at boat trader to get a range and pay something less than the highest one listed and feel you made a great deal )
and don't look back.

low 40's would be my guess at top dollar price now????
look at BUC , that may tell you original pricing?

it isn't in west michigan is it?
I saw one for sale in Holland, Mi

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Old 06-17-2008, 05:47 PM
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In the OSO classifieds is a sweet 1991 311.

Very sweet.
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Old 06-17-2008, 06:00 PM
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Quote:
Originally Posted by BowenCT View Post
I posted this in the manufacturers section, but they don't really see a lot of action.............
Ya got to give it more than an hour for a response! Especially since the board performance is so crappy lately!

p.s. Don't know about that boat.
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Old 06-17-2008, 09:07 PM
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Quote:
Originally Posted by PhantomChaos View Post
Ya got to give it more than an hour for a response!
Um, ok. I said that because I knew that by moving it to 'General' I could potentially get insight from non-Formula owners as well.
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Old 06-17-2008, 09:38 PM
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Here are some pics:







*I tried posting the actual photos, not sure why only the links came up....?

Last edited by BowenCT; 06-17-2008 at 10:07 PM. Reason: links?
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Old 06-18-2008, 09:53 AM
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Very clean! The colors date the boat, but sure looks clean!
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