Boats... the facts of life?

[centerline]

Boats... they are NOT an investment, but just an expensive hobby for the owner, and a gold mine for the chandleries, marine supply stores and the used boat brokers/dealers....

when one thinks about, it seems odd how a boat can be bought and sold many times over its lifetime, with each owner sinking thousands of dollars into upgrades on it, and yet the boat value continually drops, so when each owner sells it, they usually end up selling it for less than they bought it for to start with.... excluding the careless owners and botched "upgrades", one has to wonder, where does the value of a boat go after putting so much into it?
the depreciation of boats and boat equipment is much worse than uncle sam taking an average of 10% tax on every dollar everytime it changes hands... pretty soon the value has depreciated out with nothing left, but still, we continue to covet them....

 

[justsomeguy]

There's monetary value, and then there's intrinsic value.

Let's not reduce things to coinage and hollow exchange.

 

[Mikem]

The economics are accurate but the purchase of a boat is to purchase a lifestyle and wonderful memories that last long after the purchase and sale. In a word, "priceless".

 

[centerline]

There's monetary value, and then there's intrinsic value.

Let's not reduce things to coinage and hollow exchange.

intrinsic or extrinsic value are both a form of percieved monetary value, but if it wasnt for the actual coinage involved, this exchange of thoughts on the subject wouldnt be taking place...

 

[Whatfiero1]

Well other hobbies available. Drugs. Hookers. Golf....

 

[Skipper]

Well other hobbies available. Drugs. Hookers. Golf....

:-D
And all of which have zero monetary return. At least a boat will return part of your money at the end.

I'd include in this list fine restaurants, booze, vacations, etc. All require continual spend in order to enjoy, and all are monetarily worthless after.

 

[weinie]

I spent most of my dough on booze, broads, and boats and the rest I wasted.

-elmore leonard

 

[JamesG161]

Mine is MUCH more. It is a survival "bug out" boat.
The Admiral and I can survive when the....

ZOMBIES COME!!!

So she doesn't argue with money spent for family survival.

If I can "live the dream" meanwhile

I worked many years to enjoy the fresh air and water.
Plus...

Where else can you display your expertise, @centerline ?

Enjoy the ride....
Jim...

 

[agprice22]

Mine is MUCH more. It is a survival "bug out" boat.
The Admiral and I can survive when the....

ZOMBIES COME!!!

So she doesn't argue with money spent for family survival.

Enjoy the ride....
Jim...

Haha. We have one too!
The second photo is our two boats at the marina! Zombie Plan on the left, and Harmony on the right.

 

[Ned Ludd]

Boat: A hole in the water we throw money into...
Boat: Break Out Another Thousand
My annual budget for boating is about $3000 including moorage, pretty decent for a hobby. I in no way delude myself that a boat is an investment. Besides if I don't spend it on the boat it will get wasted on things like curtains or new furniture

Boats... they are NOT an investment, but just an expensive hobby for the owner, and a gold mine for the chandleries, marine supply stores and the used boat brokers/dealers....

My boat is already 41 years old, no broker was involved in the purchase/sale. I purchase most hardware second hand, space upgrades out over time and shop like hell for whatever else she needs.

 

[capta]

Whoa there cowboy, it don't gotta be so.
Our boat is first and foremost our home, and just like the home of a dirt dweller, it requires maintenance. We do pumps, thruhulls and seacocks while they do roofs and siding, etc.
Our boat is our transportation. Anywhere on this planet with 10 feet of water or more, connected to salt water, and we can sail there, given the time. And I sleep in my own bed no matter where I am.
If a horrible (but legal) neighbor moves in next door to a dirt dweller, ultimately it may very well come to selling the home and packing all the belongings in boxes. That neighbor moves in next to me, I pull my pick or loose the lines and shore power and I'm in another neighborhood w/o packing one single cardboard BOX!
We don't have to keep our lawns (heck we don't even have a lawn to mow) at a certain height, as some communities require. We don't need permits to do electrical, plumbing or remodeling on our home. We can paint it any color we wish and there's no home owner's association to give us grief. Add a windgen, solar panels or even a diesel generator and no one comes a-knocking.
Taxes? What are those? A registration fee annually to the CG for our document comes in a lot cheaper than property taxes.
And in our case, chartering our boat is also a good part of our income. No commuting, no bosses and no dog eat dog corporate intrigue. Just sailing from island to island or harbor to harbor in whatever area we may be, with my bestie and partner, and a couple of new friends.
I don't need to make a profit from a life like that. Our day to day return far exceeds any monetary profit (if that's really what it is after 30 years of home ownership, including taxes, repairs, etc) one might receive at the sale of their shoreside abode.
I'm not putting those who live ashore down, just saying a boat has a lot of advantages that a home ashore does not, if it is more than a casual plaything.

 

[justsomeguy]

At least a boat will return part of your money at the end.

At the very least. There are psychological benefits as well.

Thus spake @capta !

 

[Johnb]

Every one of us has their own reasons that make the boat worthwhile. One thing for me is after a good weekend on board, Monday comes with the feeling that Friday was 20 years ago, and I am recharged for the coming week. Every time we arrive at the marina we get a rush of pleasure just seeing the (to our eyes) beautiful boat that we feel so lucky to have, and then also the great place we have to enjoy it in.

 

[JRT]

41 year old O'Day 25 is pretty much bottomed out now, and if it sinks tomorrow I have it insured for $1k more then I bought it for. This was our family activity and it is working out great. The wife askes every weekend open to go sailing.

 

[Ralph Johnstone]

Drugs. Hookers. Golf....

All of which are significantly cheaper, safer, and less infuriating.

 

[Kings Gambit]

Boats... they are NOT an investment, but just an expensive hobby for the owner, and a gold mine for the chandleries, marine supply stores and the used boat brokers/dealers....
when one thinks about, it seems odd how a boat can be bought and sold many times over its lifetime, with each owner sinking thousands of dollars into upgrades on it, and yet the boat value continually drops, so when each owner sells it, they usually end up selling it for less than they bought it for to start with....

Boats lose resell value b/c it's always a buyer's market with newer boats, generally with newer equipment (e.g., electronics and sails), coming to the market every day, and which that can be bought on CREDIT. It's generally harder to buy the much older boats on credit regardless of how many upgrades they may have. One must dissociate the actual costs of having one from what it can be resold for in a competitive--largely unsophisticated with respect to the buyers--buyer's market. I do not regard sail boating as an overly expensive "hobby" in comparison to some others of an outdoor or travel nature. Resort skiing is expensive if one does it as often as one might go sailing. Golf memberships are, in some places, more expensive than yacht club memberships--then there are equipment and fees there as well. New car ownership as a "hobby", where one buys a new car every few years, is very expensive. Travel by RV is a whooper of an expensive hobby, and you cannot escape the loud, rude, neighbors of your campsite, etc. And then there is gambling! If you want a cheap hobby that can be engaging, learn to play bridge or chess. Just remember, sail boating can be entered at any level, from your West Wight Potter 15-ft trailer sailor w/o slip fees to your 50-ft Hinckley moored in Provincetown, etc.

 

[Chief RA]

Centerline: You and Stu are my favorites on this forum! I have wasted so much money on racing motorcycles it is amazing! A new MX race bike isn't worth much after a racing season, but what a great time we had! My oldest son took the Cal. St. CMC championship, 2nd son: #3 N. Cal. and me, #6 AMA Arizona. I loved racing with my ultra fast sons! This has so much more than a monitary value! They are now 52 and 54 years old and what great fun we have reliving those great times shared by a father and his sons!
I enjoy my sailboats and if they devalue to snot, who cares!
My best! Chief

 

[Ken Cross]

I guess I'm the oddball here.

I've sold 2 powerboats. The first I lost $150 after using her for 2 years. The second i made $300 after keeping her 17 years. I've sold 2 sailboats. The first I made $600 after keeping her 9 years. The second I made $1000 after 6 years. The last sailboat I'm not ready to sell.

In each case carefully shopping and elbow grease were the keys. These figures don't count maintenance which is just a user fee.

Ken

 

[centerline]

Centerline: You and Stu are my favorites on this forum!

Chief, the willingness to show your low standards with a bit of flattery tells me that we would be pretty good friends....

I cant disagree with any of the replies, and there are many other things in life that follow the same pattern.

 

[sailorskier]

capta, you are right on!!! I get a big kick out of people probing this forum with grandiose ideas of buying and maintaining cruising boats and have no sense when it comes to the monetary cost and the experience required to live safely on a boat.