Yacht Values

Boats do not hold their value. You can reduce loss by buying used, thus avoiding some of the depreciation. Don't under estimate ownership costs.

Ever hear the addage..."a boat is a whole in the water you throw money into." My wife likes that I own an F40 because she is afraid of ownership costs of a 45' boat.

Buy the way, 30-45 foot boat is a huge range in size / cost. 30' vs 45' are very different animals. If you are serious, figure out what you are going to use the boat for.

Edit: To aid in gaining opinions, should also specify power/sail. I'm assuming power...

 

Matt,

If you have narrowed down some makes/models this site can give you ideas of depreciation over time...

http://www.boattraderonline.com/

Just to give you a perspective, my wife and I considered getting a 40' boat a couple years ago... we were considering the boat vs a condo (obviously a condo is more $ but better investment value) we decided against the boat because the ownership costs (dock/marina fees, fuel, depreciation, maintenance) were too high.

We estimated roughly 10% purchase price of boat for operating costs per year (not including depreciation)....

Also for us the living area on a 40' boat is still fairly tight... I grew up around boats and spent a lot of time on boats 50-80'. Now if I could afford that.... I guess I got spoilt!

Simon

 

Sounds like you are new to boating. If so i would suggest renting one with a skipper in the 40' size you mention. To properly handle a boat of this size will take some time.

 

You are going to lose lots of money with boats. The only reason to have one is if you love being on the water. I love it. I love the smell, the water, cleaning the boat, maintaining it and just cruising. 99% of the boats around mine barely get used because the owners really had no idea how much work and money owning a boat was going to take. Rent a big one then hang out on it all weekend and in the end detail it and you will have a small taste of what it's like.

 

The Carver is a great one, I have a 32' cruiser, twin engine , generator, ac heat, the works. I keep it in year round. It's an older boat (1982) , once they get something like 20 years old they have to be marine inspected to get full coverage insurance, it cost me around $150 to get it done. I had to put a few hose clamps on, but no big deal. Here is the great part- if you buy a boat used (but not from a dealer) you will pay about 20 bucks to transfer it. That's right - no sales tax. It doesn't matter if the boat cost 1 million, or 10 dollars, in the state of KY if you buy from an individual you won't pay anything. Then get it licensed through the Coast guard and you will not pay any yearly property tax, the only catch being that in a time of war the US can use your boat.

 

Don't buy new.

 

I've had two boats. don't buy new, you'll get smoked!

 

The two best days in a boat owner'sife= 1)the day he buys the boat and 2) the day he sells the boat...

 

The secret to turning that around is to get some use out of it. That's why I bought the slip, it's within walking distance to my house. The bigger boats are full inboard, not inboard/outboard. That is probably the #1 source of problems for boat owners -the drive unit.

 

IMO a boat that size the depreciation is the least of your worries, operating/maint costs can make owning an F40 look reasonable. If you don't absolutely LOVE being on the water don't even bother, it is an endless pit of $$$ that will burn $10,000 bills quiker than you can drop singles at a strip club.


Are you going gas or diesel? What kind of hours do they get out of the motors? I've been around more offshore stuff, but it hurts doing 100 hour rebuilds on a $95k motor, even more so when there are 2 or 3 in the boat.

 

You sound exactly like me when I started looking at a 60ft sportfisher this year. You really really need to understand what you are getting into. Dont get me wrong I love being on the water and for some the cost is 100% worth it. (like me) But the cost of running a boat will shock you.
I spent almost $5,000 just to look and have the 60ft boat checked out. In the end, the day I was suppose to sign the dotted line we found out the Port motor blew during the Sea trial bang $36,000 to fix just like that. And
ofcourse because both motors have the same hours the starboard motor is going to have the same issue so you might as well save on some labor all at once so bang another $36,000 to fix the POSSIBLE problem with that motor.

 

I have been a boater all my life, my father was a Chris Craft dealer so I really had no choice.

First of all, at 40' make sure you buy a diesel boat, gas is expensive and dangerous.

Carver's are a "starter or beginers" boat. Not bad, but the materials and equipment tends to be of a lower quality. There is a reason they are priced where they are, so the operating costs might be slightly higher than normal.

A Sea Ray is usually a better choice and better quality.

The 10% of the purchase price rule for annual costs is a reasonable number, however it does not include fuel costs or slip fees.

Fresh water boats are much easier to maintain.

I currently have a 60' Hatteras motor yacht, the difference in equipment (engines, generators, AC etc) is significantly different than a 40' boat of any make... An 80' would be different from my 60'. My operating costs are close to $100,000 a year, with Captain, Insurance and Slip fees.

I am the happiest when I am on my boat, and as a family event, it cannot be beat. Don't be scared, just prepared!

 

SOOO damn true!

THOROUGHLY think the matter through. Decide what you want to do with the boat first. Then, you can begin to consider your choices. Something like the size of a fresh water tank can alter the boat by 10 feet and 200K!

...and as far as "Pop out" boats go, Tiara is better than Sea Ray but more $$.

 

The "new" Chris Crafts are like jewelry, the build quality is fantastic, but you have to make at least two trips to the bank.

They might be the nicest production boat on the market right now, if I ever downsize, I will buy one.

 

??? Could you clarify.

 

I think what he is saying if you want something as insignificant as more water strorage it might take another 10' and $200,000 to get it.

More is always more on a boat!
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Got it!. Thanks!

 

Yes.

More water means more people having the availability of a serviceable shower or enough for longer trips. Which could mean another stateroom.

It's a domino effect.

 

...to add:

It's kinda like when needing to change one tile in the kitchen leads to a wing addition!

 

I've been around boats my whole life. Both in a professional setting and simply for pleasure. There is a lot of good comments about ownership on the thread. As an owner of several boats this is what I've learned over the years.
As stated earlier, NEVER buy new, your just p@#!%^g in the wind. Cost of ownership is about 10% of purchase price annually. If going to a 40ft or larger cruiser, ALWAYS go diesel. Much more efffecient, holds a better value and MUCH safer. And as some one stated earlier, if your going to purchase a large boat, you better LOVE being on the water. Only way it will be worth it is if you really use it. For me water is my life ,so it's a nobrainer. Good luck, do your homework,and definatly use boattraderonline.


Darrell.

 

lol...or the quick daytona re-paint that leads to a full body off resto!

darth, your comment made me think of the daytona resto thread in the classic section...these affictions always start out small...just before they get out of hand!!

 

if you must do a boat...consider a chris craft corsair. a really handsome dya boat w/ great sea keeping quality. also avail in the secondary market in various sizes w/ both diesel and gas prime mover options.

not a boat you would be ashamed to show up anywhere with. there is a 38 footer that is really nice.