The boat equation

[kpgraci]

I always look at used sail boats and every so often (well, pretty often) I find something that looks like a real deal. Most recently there was a 27 footer something-or-other in great shape for $3500, and it was just a few miles away on the same lake. Due to my current situation buying anything is out of the question right now (more political than economic, but that's another story) but it got me to thinking about cost of ownership of a sailboat. I paid $1200 for my 22, slightly below market, it was ready to sail but basic, came with a trailer and motor and 2 good (enough) sails. I've since made some improvements to the tune of about $6000 total cost, and that does not include slip fees or insurance. No way I could sell it for anywhere near that price, probably the best I could get is $2000 and that would be on a good day. So the same market that shows me attractive deals is also responsible for instant depreciation to $0 of any money I dump into the (any) boat. My optimistic view of this situation is that I could be throwing money away on a bigger boat and be getting the same return for my investment. So I've declared my boat 'finished' (as in stop the bleeding), and when my daughter finishes college in a few years (please hurry) I'll go hunting for the next big thing.

 

[waternwaves]

what is this thing you speak of

" getting the same return for my investment" regarding boats

"return on investment" with a boat is making it back to the dock.

 

[Stu Jackson]

A good friend of mine said, "The most important thing in life is to use it while you got it and while you still can."

Ken, however you cut it, we all know it's not an investment, it's a hobby, or for some like me, a way of life.

We started with a Catalina 22, then a C25 and now a C34. I am glad that you could find a good boat for the cost you mentioned, but am amazed that you could put that much into it. When we had ours, I spent $ to run the halyards back to the cockpit, but can't figure how you spent that much. What the heck did you do?!? I spent that amount in the first year on our C34 and redid the electrical system!

Anyway, when the time is right, you'll do what's right for you and the family.

Good luck. Enjoy what you have, a great boat.

 

[cb32863]

I know exactly what you mean. No way in .... I am ever going to recoup any fixes or enhancements to my boat either. What I do to the boat is for me and no one else. Never even crosses my mind that I am increasing value. Just value and enjoyment to me.

 

[kpgraci]

I know what you mean, when I added it up I was amazed as well. Let's see, boat ($1200), VHF ($150), Antenna and coax ($100), bottom paint x 2 ($350), new electric ($100), new trailer tires ($300), new outboard ($1000), auto tiller ($350), life vests/cushions/safety gear/bumpers ($250), new jib ($350),new standing rigging ($250), new mainsheet/reefing line/jib downhaul/topping lift ($200), new battery ($150), misc fiberglass repair supplies ($200+), assorted sheaves, pins, rings, blocks ($300+), swim ladder ($350), Stereo ($150), VHF/FM splitter ($50), solar panel ($50), solar controller ($50), masthead light ($50), sail covers ($150), what am I up to? I'm sure I forgot some stuff.

Not complaining, I like all that stuff, I use all that stuff. But I can't justify continuing at this rate, not on a $2000 boat. She is a joy to sail, however.

Still need...new main, furling system, boom tent, anchor hanger, deluxe margaritta maker...

 

[Bob4203]

I have owned seven boats over the past 45+ years (Oday 23, Helsen 22, Catalina 25@2, Coronado 35, Herreshoff Eagle and now a Catalina 30 and not once have I ever made any money on resale!

Sailboats simply are not investments monetarily speaking, unless you are in the busines of buying and selling and have no other interest. Yes you can by used boats needing repair or refurbishment and you might be a great handy man who could profit from such enterprise but as a sailor your investment is in passion and the pure joy of sailing, especially when the family is all involved.

Where we loose overall is the high cost of dockage, but thats the choice we made for the love of the sport. For many like myself its almost a religion! I'll always have a sailboat despite any financial sacrifice. As I get older I am realizing how important it is to spent even more time on my boat. So its best to just consider your boat as an investment in quality family time, balance, the soothing of your soul and simply finding peace with nature.

.............and thats that

Bob

 

[Justin_NSA]

Amen!!

 

[25yearslater]

Hi kp. As a follower of my recycling project you know there is a snowball's chance in Belize I would recoup the 25,000+ I spent on YOT. That is why I chose the boat I most wanted and then went to work. It's all about the joy of owning that one perfect boat. Perfect for me, same as my wife. Crazy perhaps, yet what price happiness.

 

[kpgraci]

25yrs, I guess that's it. I don't mind putting the money in, but as much as I like this boat I know its not the the one I'm going to stick with. Sounds like we're talking about women - actually there is a lot in common there. My problem is I like buying things for her but I can't go shopping around for a new one now so i'm kinda in boat limbo. So its all sailing and only necessary maintenance - not a bad situation to be in. Boy, I could take the girlfriend analogy all the way here. Good thing my wife doesn't know how much I spend on boats.

 

[Calif. Ted]

When I got my last boat I put so many charges on a credit card prepping it for the 450 NM trip home that when I was getting the last 6 bags of fresh food prior to departure it was denied due to "suspicious activity"

 

[hvbaker]

A boat is a state of mind, not an investment.

 

[Justin_NSA]

25yrs, I guess that's it. I don't mind putting the money in, but as much as I like this boat I know its not the the one I'm going to stick with. Sounds like we're talking about women - actually there is a lot in common there. My problem is I like buying things for her but I can't go shopping around for a new one now so i'm kinda in boat limbo. So its all sailing and only necessary maintenance - not a bad situation to be in. Boy, I could take the girlfriend analogy all the way here. Good thing my wife doesn't know how much I spend on boats.

I believe it was Lord Nelson that said ships are like women, because it cost so much to keep them in paint and powder :dance:

 

[neilmcc]

Never, never,ever, try to calculate the cost of owning a boat.
The cost has no bearing whatsoever on the value you get from it and any return you get has happened a long time before you sell it.
Just tell yourself "it's money well spent"

 

[Mike4116]

Like most of the folks who have posted on this topic I too have improved my boat for my comfort, convenience and safety. I don't even want to think about the money I have put into the boat and it matters not. From the electric reefer, the full enclosure, auto helm, chart plotter, traveler upgrade, stereo system, inflatable tender to the hot water system I have enjoyed and used each one of them. If I ever sell the old girl (1980 O'day 28) I know some purchaser will have a very nicely equipped boat to start with and can go on from there. My wife and I love the boat and love sailing her even more. Our return on investment is measured in sunsets, secluded anchorages, new ports and great friends.

 

[Pilgrimtex]

Compare it to membership in a golf club, season tickets at a football stadium, hunting leases in Texas etc. Sailing is a low cost way of life when it's your passion. Spend a winter in the Caribbean on your boat and then compare it to airfare, hotels, restaurants, charters etc.
This is also why I plan to buy a new Cat 315 rather than used. I can rig it to my specs and the money I save for the first 5 years compared to depreciation to me is a wash. All that time I'll be sailing somewhere on "Sailin Somewhere".

 

[Indysailor]

I have a teenage son with autism, which means the time I spend off the boat or not at work does not belong to me. I am not complaining, the challenge of raising a kid like mine is a calling like no other, with extremes of joy, fear, hope, sadness and optimism that are hard to explain to those not in my situation, such is the life I have been handed. It has made me a better person and although it would be wonderful to have a kid who is "normal", I wouldn't trade the man it has made me for anything. But like anyone, I need my own place and that's what the boat represents to me. It's my domain, with everything as it should be, nothing out of order, a ship in ship's shape. When I'm there, my world is a little different; it refuels me for the challenges of life, a restorative for which no price could be too high.

 

[Doc_holiday]

Someone said, it may have been on here that you could easily make that $2000 boat worth $5000 by simply putting $10,000 in to it.

It's an investment but it's an investment in your sanity, quality of life and all that.

 

[Winkfish]

I really like that one, Doc!!

 

[DougM]

There is a reason why they call a boat a hole in the water into which one throws money.

 

[JackK]

What I spend on the boat, storage, dockage, upgrades, etc every year is, in my mind, just the cost of a good time. Sail with friends, family, clients, whatever. Just get out and make the most of your time before its taken away.

One thing that helped me with the costs was joining a boat club (Not a "yacht club") made up of like-minded sailors. By working together, we keep our mooring costs down, we help each other with upgrades, repairs, etc, we learn from each other, and there is always someone ready to go sailing if you need a crew.