Originally Posted by JimMcGee
Congrats on the Albin Ballad, pretty boat (I had to Google it).
If you're going to weigh the financial sense of a boat you have to look at more than just buying and selling.
People around here pay BIG money to live on the water at the Jersey Shore. For what most people pay for a one week vacation on Long Beach Island we get a three season waterfront property (our slip) and we get to play out on the water. Try that in a condo! (No Sandy jokes please it's too soon)
So compared to having a mortgage on a million dollar property our boat makes pretty good financial sense.
You see, it's all in how you look at it
Thanks, Jim. The Ballad is a sweet boat capable of sailing almost anywhere. But like any old boat, it's not what you would call investment grade.
I like your comparison to waterfront property. We look at our new boat as a cheap Mexican vacation cottage. We could charter cheaper, perhaps, but we likely could not own waterfront property for less. Plus it goes places! we could have a cottage in the Marquesas, or New Zealand, if the impulse stikes us. When you look at the cost of chartering a boat for a week, or renting a vaction home, or hotel rates -- bundle that with airfare, eating out, etc -- sailboat ownership becomes slightly less stupid. Slightly.
The idea that used boat pricing is rational ... it's not, really. There are so few comps of a given model with similar equipment sold in a given market in a given year. Some people are desperate for cash, others can price it high (perhaps hoping it won't really sell.) Owner may have health issues, or relationship issues, or maybe got a good deal when she boaught it and wants to help out someone else, or maybe put 5x the NADA in gadgets and repairs and thinks he's due some of that on resale. *shrug* The motives are as variable as the boats themselves, both for buyers and for sellers. Maybe better to choose a price that allows you to do what you want to do next, when buying or selling.
As an example: We recently sold an old Ford tractor. Came with a second, parts tractor. We thought it would be useful around the house. It wasn't, and like a boat, it cost a bit to repair and three hours fixing it for every hour in the driver's seat. Extensive research helped me set a fair market value ($2500) for this tractor; quite a few enthusiasts came out to see it at that price. Some wanted it for free. Others liked it & thought the price fair but didn't have the money right now. One found another Major for more money but in better shape. Two years pass. Tractor still sitting in the yard. It's not costing us anything, but it's not doing us any good, either.
Then we stumble over the Albin sailboat. Suddenly, we need the damned tractor out of the way NOW. And we need whatever cash we can get for it, NOW, to defray the cost of a new toy. Sold it for $800, with the box blade. Tractor didn't change -- we
did. The value of the item depends on lots of factors, not least whether you have the luxury of waiting for the market to operate. Timing is probably at least as important as NADA or condition in the ultimate selling price of a boat. Sounds like Denise isn't driven to sell by external factors; that's helpful.