Re: What Is A Boat Really Worth?
On the last number of yachting world there is an article that is interesting to tis discussion. A guy bought a 1997 Halberg Rassy 46 for 180 000 euros. The boat needed a refit to come to its normal sailing and safety potential. Te refit costed 320 000 euros. Total cost 520 000 euros.
The guy is very pleased because a new HR 48 with a similar kind of equipment costs 950 000 euros.
I would say that there are advantages and disadvantages. Obviously the new design is a better performer in all aspects but more than that (that is just a smaller point) he is never going to recover all that money that he spent in refitting the older boat, that probably has a market value under the price of the refit while the new boat will have a much higher used value in proportion to its cost as new.
As a deal, it is a bad deal. If he does not have the money for a new one or a more recent used boat not in need of a refit and he is sure that he is not going to sell that boat for a long time and that's the boat he really wants, it could be a good solution for that sailor, but never in what regards value of the boat on the market.