Wanted to see expected potential depreciation, by example on a 2019 38.1 or 41.1 percentage range over 5 years.
Depreciation on2019 vessel
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Depends on the typ3 and brand of boat to a great extent as well as other considerations such as condition, maintenance, appearance, etc... if you are looking for a general # for a 2- 3 year old boat, it’s likely somewhere between 50 and 70%.
If you know someone who has access to sold boat prices on Yachtworld, you can get a more precise answer.
If you know someone who has access to sold boat prices on Yachtworld, you can get a more precise answer.
Years ago, Beneteau was trying to develop a program within their dealership network to buy and share the use of the boats thru a membership program, similar to Sail Time. In Beneteau's literature they quoted a 25% depreciation over the first three years for a new boat, followed by 4% depreciation per year thereafter. Lots of variables, including type of boat, condition, and market condtions.
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Call a bank that finances Boats.
Or use Kelly Blue Book Guides for Boats from...
Research New Boat Prices & Used Boat Values
Jim...
It’s as with cars. One day after you drive a new car even only one mile off a lot, you can sell it for maybe only 85-88% of what you paid the day before. That’s b/c you cannot resell the cost of a dealership’s overhead built into the price of the new car, effectively a cost one pays for a service. The car itself has every bit the “value” it had the day before. Similar with new boats. IMO, one should view “depreciation” as beginning from the purchase amount after you throw away the dealership cost fraction, etc., which is probably higher for boats than cars. This would account for the disproportionately large “drop” in resell versus purchase price in the first few years (post #3)—correcting out the the dealer overhead fraction, etc.
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We recently traded in our Beneteau 321 for a new Jeanneau 389. The 321 was 20 years old and trade in value was 40% of what we paid. There were only 300 hours on the engine and the boat was in pretty good condition. We were very happy with the residual value.
Depreciation is a given. Are you wanting to know which will depreciate quicker, the 38 or the 41? Aside from depreciation would there be other pros and cons that would settle the choice?
Should be the same depreciation percentage on a 2019 Beneteau 38.1 or a 2019 Beneteau 41.1 given that the boats are in similar condition and both are five years old. So, using Beneteau's depreciation estimates, both boats should depreciate approximately 33%. But, sales prices on used boats are predicated on a number of variables including geographic region, reputation of builder, price range, market conditions, condition of boat, popularity of model, and motivation of seller. Probably the best indicator of recent sales prices are from "Sold Boats" publication; you may be able to acquire that data from a broker or surveyor.