I've done both and would never, ever buy new again. Warranty issues, companies that don't stand behind the product etc. Our manufacturer refused to pay for agreed warranty work they had said they would pay for etc. etc. etc...
The resale hit can also be murderous to your wallet unless you plan to keep it but still it is a quickly depreciating asset when you buy new. Much less depreciation on used boats.. That said I timed the market well and lost less than 10K (excluding any upgrades) because we listed it a year after purchase and did so right after the manufacturer took a HUGE price increase.
Second guy that looked at it (an
experienced buyer) snapped it up in seconds for asking price.. First guy that made me an offer (an
inexperienced buyer) proceeded to fly all over the US, wasting $$$, looking at less equipped, crap condition sister-ships only to come back offering me full price. Sorry dude she's gone.....
I will repeat my tips for boat buying once again:
Buy the absolute best condition boat you can find.
I call these the "2-percenters" as it the top 2% of condition. A "2-percenter" still has to compete with its sister-ships and while it can be the "top priced" boat it can't be outrageously top-priced. When you add up all the things the previous owner has done to make and keep it a 2%er YOU WIN...
Here's a prime example;
About 12 years ago a neighbor enlisted my advice when looking at two Catalina 30's. One was in top notch condition, a genuine pristine boat needing nothing but your own fresh linens. The other boat needed nearly everything and was very poorly maintained and cared for but less $$$$$. My neighbor got hung up on the $$$$ aspect and not in the REALITY aspect despite hours of discussions with me pleading to him NOT to buy that boat..
He fit the true definition of a
naive or
inexperienced buyer, he knows that now..... .Some things you simply can not teach and the naive or inexperienced buyer does not yet have the knowledge to know how to listen to sage advice..
Both boats were the same year, same model and only 8k apart in asking price with the most expensive, at that time, being about 32k asking (not selling). Fast forward three years....
A gear box (on old engine)
A re-power (this after spending 2K to repair the gear on the old engine)
New standing rigging (insurance demanded)
New Furler (furler failed first weekend out)
New running rigging (completely rotted)
New canvas (was well beyond salvageable)
New sails (old sails were worse than done)
Numerous deck core repairs (about 7.5K all insurance required)
Wiring upgrades
Batteries
Interior cushions (saturated and foam infiltrated by black mold due to deck leaks)
Wet bulkhead repair
Chainplate replaced (due to wet bulkheads)
Mast Step Repaired
Keel reset & stub repaired
Bottom job
etc. etc. etc.
By the time the boat was "close to" as good as the one for 32k, which he could have purchased for 29k, he was sooo upside down it was not even laughable.. For the "junker" he paid 24k which was only approx a 5k up front difference. Three years later he had over 60k, 35k in "fixing" into a 24k purchase price Catalina 30.
Sadly the boat was still worth 28-29k just what the one he didn't buy could have been purchased for.... For 5k more the other boat was already there.
This little escapade in penny pinching the initial purchase price cost him, at a bare minimum, $25,000.00 more........
Moral of the story, don't be penny wise pound foolish.... A little more up front, on a pristine example of the boat you want, often goes a LOOOOOOONG way and in almost every single case will cost less over the long haul...
I also work on two Sabre 34 MK I's one owned by a very experienced buyer who bought the most pristine one avaible, and the other owned by a less experienced buyer who bought the "project boat". The pristine model was 6.5K more, and even has Espar heat. I have done about 1.2K in work to that boat, all unnecessary
nice to have "upgrades", and nearly 13.5K in
absolutely necessary, barely keep it running, fixes to the fixer upper. By my estimation she is still about 25k away from even getting close to the level of the other one.......
Be the
experienced buyer..
P.S. 2%er's do not last on the market so do not
hem and haw over one or it will get snapped up from under your feet. Whip out the checkbook and write the deposit on the spot when or if you find one...