Join Date: Feb 2002
Location: Oceanside CA
Thanked 25 Times in 25 Posts
Rep Power: 15
Re: What Is A Boat Really Worth?
I think the price of boats is all over the place for a reason. The quality of a boat is based on the model, age updatedness and additions. I look at the boat type as like a neighborhood. If you live within a mile of the beach in Socal you will pay 750k for a shack, 3 million for a shack on the water, crack neighborhood houses may be 200k. In the right neighborhood you can buy a home for 300k and put 100k into it and walk away with a 500k home. You can buy a 20k boat and pour the same 100k into it and be happy to get 60k for it.
No one is going to buy a million dollar home in a crack neighborhood and the bank won't loan the money for that home. If a basic 40 year old cruiser has a radar, watermaker, new rigging, motor and sails it can realistically be worth 60k but the bank does not want to loan you that much for it.
West Wight Potter 14 "Lemon Drop"
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.