Before we dive into this interesting 1982 Cole drag hydroplane listing, let’s explore the story behind these legendary speed machines.
Jim Cole started Cole Marine in Glendale, California back in 1974, initially distributing Kurtis-Kraft Boats. By 1975, he launched Cole Custom Boats, crafting specialized TR-1, TR-2, and V-bottom models. The company relocated to Chatsworth, California in 1978, where Cole would establish itself as a premier name in custom high-performance racing and fast pleasure boats.
What set Cole Boats apart was their dedication to custom-built excellence. Each vessel was built to order, with drag racing hydroplanes becoming their signature product. These boats frequently appeared in magazines throughout the late 1970s and 1980s, cementing Cole’s reputation in the performance boating world. The company continued producing high-performance vessels until 2003, marking a remarkable 25-year legacy in the drag boat community.
Currently offered in Chatham-Kent, Ontario is a 1982 Cole Drag Hydroplane, known as “Top Gun.” According to the seller, this competition-focused vessel features:
• 468 BBC engine
• Casale V Drive
• Whirlaway propulsion
• Lenco 2-speed transmission
• Enderle mechanical injection (methanol-fueled)
‘077’ aluminum heads
• Outboard steering configuration
• Dual-axle trailer included
Condition & Equipment As stated in the listing, the boat retains its original paint, which shows age-related cracking from material shrinkage. The seller reports that the vessel is structurally sound, with all major mechanical components present except for the rudder. The clam shell and steering components are reportedly complete.
Mechanical Status according to the seller:
• Engine hasn’t been run in several years
• Systems have been oiled for preservation
• Engine receives monthly manual rotation
• All “expensive components” remain with the boat
Market Position
At USD$15,000 (approximately CAD$20,250), this Cole represents an interesting entry point into vintage drag boat collecting and enjoyment.
Recent Market Comparables:
• March 2024: 1983 Cole Drag Hydro – USD$22,500 (Performance Boats Forum)
• January 2024: 1981 Cole TR-2 – USD$18,750 (Facebook Marketplace)
• November 2023: 1980 Cole Hydro – USD$12,000 (eBay Motors)
Ownership Considerations
Specialized Equipment:
• Methanol fuel system requires specific handling
• V-drive system needs expert maintenance
• Competition-grade components demand specialized knowledge
• Trailer appears ready for transport
• Storage requirements more specific than conventional boats
Support Network:
• Active drag boat community online
• Vintage racing boat forums provide technical resources
• Cole boat owners’ groups on social media
• Performance boat specialists familiar with 1980s designs
• Parts availability through racing networks
Investment Potential
Market Factors:
• Limited production numbers enhance collectibility
• Growing interest in vintage racing craft
• Original Cole boats increasingly scarce
• Competition history adds value
• Complete mechanical packages command premium
Value Considerations:
• Restoration costs should be evaluated
• Original paint may be worth preserving
• Missing rudder requires sourcing
• Complete drivetrain enhances value
• Period-correct components present
The seller welcomes inquiries for additional information about this distinctive piece of drag boat history.
Note: All specifications subject to verification upon inspection. All images via seller.
Leave a Reply