Leaderboard

If you have no interest in fixing it and keeping it, I agree with you that I wouldn't want to deal with trying to fix it and flip it. If you can take it and the $47k, there is some value in the boat for sure. There are plenty of people that aren't afraid of a project and would take it off your hands for $5k-$10k or so. As @jtryon suggested, the motor alone has pretty good value. I also agree with @Bigcatpt that it's a good idea to take this question to the Facebook group. You might even find a buyer there... Do you know if the title is "salvaged"? I know it works differently with cars than it does boats. Cars are immediately deemed "salvaged" when the insurance totals it and pays you out for it regardless of the extent of the damage. It is not exactly that way with boats. For example, I bought my old Avalanche from a boat repair shop that had bought it from an insurance company after it was "totaled" and the previous buyer was paid out. The story I got was, the previous owner didn't have the trailer coupler properly connected to the ball, turned a corner leaving his neighborhood, trailer came off ball causing damage to the trailer, breaking the windshield and tower, and cracking the hull above the rubrail in the rear by the engine vents. The title was not salvaged on that boat. That said, I also agree with Bigcat that if the title is salvaged, obviously the value and potential buyer pool are reduced. But, if it is not salvaged for some strange reason, that could make it more appealing to someone who isn't afraid of the project... I did a quick search on 2007-2010 Enzo's on Boattrader and your boat in good condition with a trailer is worth low $50k-ish, so $47k and you take the boat isn't too bad of a deal.

i would definitely take the boat if you're essentially getting it for free plus your payout--you can probably have someone lined up to buy it for $5-10K within a week. was the motor pickled as soon as it was pulled from the water, i.e. got all the water out, no water in the oil after running it afterwards? if the motor checks out and has good compression still, that's huge. can you take your $47k, keep the boat yourself and drop it off at a shop to redo the important items after shopping around for better prices? you should be able to replace all the important stuff like gauges, perfect pass, etc. with new ones just as a peace of mind and still come out well on top.