Anyone ever sold at a profit? - Page 2 - SailNet Community
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post #11 of 49 Old 08-23-2014
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Re: Anyone ever sold at a profit?

I'd be willing to try...

I bought my '72 Pearson 26 for $2500 a little less than 2 years, three new sails, new running rigging, outhaul, downhaul, and vang tackle, a head install, a new mast support white oak crossbeam and compression posts, new Russian Birch bulkhead panels, complete drive unit rebuild on outboard, two winter storages, two launchings, two bottom paintings, two mast unstep/stepping cycles, mast rewiring, and a couple other projects ago. I know... goofy sentence. Read it again and hopefully it'll make sense.

I figure if I can sell it for $7500, I might have a tidy little $500 profit to put towards the Pearson 30 I'd like to buy.

Any takers?

Barry


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post #12 of 49 Old 08-23-2014
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Re: Anyone ever sold at a profit?

I sold my Catalina 25 for more than I purchased it for, but not for more than I spent on rehabbing it (and that doesn't include any time spent).

I made money selling a car once (after owning it for 4 years), so the chances of making money selling a sailboat too in the same lifetime seem remote.
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post #13 of 49 Old 08-23-2014
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Re: Anyone ever sold at a profit?

We have owned 8 cruising cats and only lost money on one. Not a great way to make a living as our hourly wage on most of them would have probably been less than a dollar. Labor of love?
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post #14 of 49 Old 08-23-2014
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Re: Anyone ever sold at a profit?

If you lived in a house for thirty years and sold it when you downsized,would you count the time you spent mowing the lawn or fixing the gutter.against the profit. Messing with boats sort of comes with the turf. (pun,in case you missed it)
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post #15 of 49 Old 08-23-2014
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Re: Anyone ever sold at a profit?

I bought one Thistle for $4K and sold it four years later for $4,200. Because the class association restricts changes in the fifty year-old design, the older boats aren't made obsolete by newer boats. My boat was well made by a reputable builder and would probably still be competitive today and I have been told that it would sell now for more than what I got for it. I frequently advise those new to sailing to buy a one-design boat with an active class association; if the owner doesn't stick with it there's a ready market for the boat on their way out.
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post #16 of 49 Old 08-24-2014
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Re: Anyone ever sold at a profit?

It isn't easy but on lower end boats in the 17-25' range it can be done. I have doubled tripled my money on most of my project boats. The key is to buy it right in the first place. Dave Ramsey always says the profit in a house comes at the purchase and not the sale and I belive that holds true with boats too.

The most profit I ever got was on a Catalina 22. It was a retired racer that needed a lot of TLC but it was all there and was solid. After a lot of cleaning, buffing, painting and bright work refinishing it was ready to sell. Basically a lot of elbow grease and man hours. I paid $1,500 for it and was selling it for $3,500. It had a ton of extras like 8 sails, cockpit cushions, lifejackets, Satellite radio, VHF, tons on spare parts, tools, flares, and the list goes on and on. At $3,500 I only got a couple calls. I decided to keep all of the extras and strip the boat down to just the essentials and priced it at $2,500. My phone was ringing off the hook. On the first day of the lower price I ended up trading it for a 2 year old Honda 4X4 quad which I then sold for $3,700. I kept anything that wasn't specific to the Catalina 22 that I could use on future boats. The Catalina sails and spare parts I sold on ebay for about $1,500. So on this boat I turned $1,500 into $5,200. This is not typical but it can be done. It also took me about 6 months to sell all the extras to the profit wasn't overnight either. I would stay away from any boats in the 30'+ size. Parts are to expensive and I think it is a much smaller market of potential buyers. Everyone can afford a cheap boat. Not everyone can afford a $30k+ boat.

Ludington, Michigan - Lake Michigan
1971 Ericson 32 Hull # 193
1974 Catalina 22

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post #17 of 49 Old 08-24-2014
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Re: Anyone ever sold at a profit?

Yes, my profit was measured in the enjoyment of rescueing a good old boat sitting in a field, and the joy that was putting her back into the water and sailing her.
There is much more to life than scrambling after bits of green paper.
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post #18 of 49 Old 08-24-2014 Thread Starter
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Re: Anyone ever sold at a profit?

Ya mean to tell me my wife is right AGAIN??? ☺ of course it would really make her happy to know I had to confirm her opinion with the sailing crowd. I don't think I'll tell her about this thread...
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post #19 of 49 Old 08-24-2014
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Re: Anyone ever sold at a profit?

Bought a SHE 36 built for a single handed teams Atlantic race. Owner( a Brit) completed race and put on the hard and went home. It sat for a couple of years. Bought it and it needed nothing but a good cleaning. Sailed it hard and sold it for 10 per cent higher than cost four years later.
Also can buy boats from yard when they been abandoned due to yard bills or litigation and do very well.
Some boats are in long runs as Hannah2 some with waiting lists. Given costs of builds goes up price of well maintained used ones stays good. Morris,HR
Boreal, Outbound, Passport, and Chris White multi s are examples

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post #20 of 49 Old 08-24-2014
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Re: Anyone ever sold at a profit?

I bought my Capri 22 for $4000, and sold it for$5000. I think I put almost $800 into it in parts...

My Capri 25, I purchased for $5500, and I sold it for $7500, and I think I put close to $5000 into it (most of it sails). I gave the new owner a folder about 1/2" thick of receipts.. that I NEVER EVER looked at again. The new owner got a GREAT boat... I'll miss that boat, but I'd do it ALL over again. Time to do it to another boat.

I feel VERY happy that the amount of money I put into the boat brought ME so much fun (and it did, boat was a shear PLEASURE to sail, one of the best sailing boats I've been on - OK granted I've not been on many race boats)... I sailed an S2 7.9 and I'm also quite impressed by them. It's a bit less race and more cruise though, not in performance, just in feel. I am HOPING I can get one that in acceptable shape... the whole core damage thing (wet balsa core) is NOT something I want to get into dealing with, but I will if I have to.

"Rum Line" a 1982, S2 7.9 - Production boat limit tester, blue-water bucket owner, with wine taste on a beer budget.

Last edited by SHNOOL; 08-24-2014 at 11:53 AM.
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