Anyone ever sold at a profit? - Page 4 - SailNet Community
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post #31 of 49 Old 08-26-2014
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Re: Anyone ever sold at a profit?

Every boat we have ever owned has been sold at a profit. OTOH we have not sold a boat in a LONG time. I cannot imagine doing it now unless the keel is made of gold and you time the commodities market just right* or you manage to get a boat for less than the scrap value of the lead and aluminum.

*there was a great old book about a boat made with a gold keel.
Amazon.com: Golden Keel (9781842320112): Desmond Bagley: Books Amazon.com: Golden Keel (9781842320112): Desmond Bagley: Books


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post #32 of 49 Old 08-26-2014
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Re: Anyone ever sold at a profit?

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Originally Posted by Jeff_H View Post
I don't want to start an argument here but I have to say that based on my experience with folks who have done this, that would be the perfect example of how to lose money on a boat.

I have made money on quite a few boats that I have owned. The pattern I have followed has been to buy high quality boats that have been raced so they were loaded with sails, with a good engine, but which was cosmetically rough. Most did not take all that much effort to put into shape. I typically sold them in a year or two and made 15-25% and enjoyed sailing them while I had them. A few I broke even on, and a few I merely enjoyed owning but those were boats I owned for a longer time and which were in better shape when I bought them.

Jeff
x2 buying racing boats and fixing them up while enjoying them is a good way to break even or make a buck

my experience mirrors yours but even with non racers...

cosmetics for example is the biggest money maker, even more so than a new engine.

so what you do is you buy the first impression turn aways, the visual rejects, those that people refuse to even look at based on looks only and then you put some elbow grease, some paint and varnish here and there and before you know it you have doubled the price you bought it for or at the least are now in mid value range compared to equals on the market

also those that are cosmetic nightmares sometimes are diamnonds in the rough...algae, bird poop, moss, dust, and all that can be cleaned off with simple green...youd be surprised how good gel coat and paint can survive under all the green! jajajaa
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Last edited by christian.hess; 08-26-2014 at 10:32 AM.
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post #33 of 49 Old 08-26-2014
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Re: Anyone ever sold at a profit?

I TOTALLY FORGOT...
I bought a 12 foot vangard ZUMA, for $200... it was missing the hull plug, needed one little fiberglass repair, and cleaned up... I put $50 in parts into it (included 2 hats), and another $20 in running rigging (EBAY baby)... and the boat was 100% again, light too.

Anyway, I sold it 12 months later to a kid for $500, and he was thinking he stole it from me! $200 for a zuma, hard to top that price though. Fast little boat too even with my fat keester in it.

Just slightly under 100% profit?

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post #34 of 49 Old 08-27-2014
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Re: Anyone ever sold at a profit?

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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.
You sold it! I really wanted that boat. Someone got a really good boat.

To the OP, I knew a longtime sailor that swore he ALWAYS made money on the sale of his boats. But that was before the bottom fell out of the market. Now he has a 36 foot boat that he rarely sails on, and would take an enormous loss on it if he got rid of it now. He spent a lot of money upgrading the electronics when he bought the boat.

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post #35 of 49 Old 08-27-2014
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Re: Anyone ever sold at a profit?

I am on my first boat right now but I have thought of getting a project boat to cleanup or fix up in some way. I've mostly been keeping my eye on smaller trailerable boats. I wouldn't expect to make any profit on them but would be happy in the experience of bringing something back to usable condition.
To me, a boat isn't a financial investment that you can trade like stocks like how people have looked at houses in the past. I just look at the boat as an investment in my personal happiness and peace of mind.
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post #36 of 49 Old 08-27-2014
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Re: Anyone ever sold at a profit?

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You sold it! I really wanted that boat. Someone got a really good boat.

To the OP, I knew a longtime sailor that swore he ALWAYS made money on the sale of his boats. But that was before the bottom fell out of the market. Now he has a 36 foot boat that he rarely sails on, and would take an enormous loss on it if he got rid of it now. He spent a lot of money upgrading the electronics when he bought the boat.
Hey the Zuma was a blast to sail. I took it out in May in 55 degree weather, forgetting the water was still like 40... nearly wiped out as it was blowing 15+ which is a LOT of wind for that boat (surfing like crazy reaching back and forth on the lake)... I decided it would be a bad time of year to swim. I sold it shortly thereafter, I never swam from the boat though. Made the sunfish look slow, and with a lighter skipper would keep up with a laser!
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post #37 of 49 Old 08-27-2014
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Re: Anyone ever sold at a profit?

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Originally Posted by Rhapsody-NS27 View Post
I am on my first boat right now but I have thought of getting a project boat to cleanup or fix up in some way. I've mostly been keeping my eye on smaller trailerable boats. I wouldn't expect to make any profit on them but would be happy in the experience of bringing something back to usable condition.
To me, a boat isn't a financial investment that you can trade like stocks like how people have looked at houses in the past. I just look at the boat as an investment in my personal happiness and peace of mind.
ive never been the huge money maker on boats but one thing I do consider boats as even while not in use is MONEY stashed aways as "kind" of an investment

more like a cd account at a bank long term...(6 months, 1 year, 2 years 5) the money is there, if you maintain it slightly it will hold value, if you add to it it will increase but dont go crazy then if you feel like accessing that money it will take a few months or so (to sell if talking about the boat) but then like a cd account you can then access it and bam there is your money

if you want quick access then you take a hit, you get fined...if you are prudent and patient you actually earn money.

peace

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post #38 of 49 Old 08-27-2014
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Re: Anyone ever sold at a profit?

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ive never been the huge money maker on boats but one thing I do consider boats as even while not in use is MONEY stashed aways as "kind" of an investment

more like a cd account at a bank long term...(6 months, 1 year, 2 years 5) the money is there, if you maintain it slightly it will hold value, if you add to it it will increase but dont go crazy then if you feel like accessing that money it will take a few months or so (to sell if talking about the boat) but then like a cd account you can then access it and bam there is your money

if you want quick access then you take a hit, you get fined...if you are prudent and patient you actually earn money.

peace
Haven't tried to sell a sailboat lately have you?
Sorry the market is pretty sour right now... maybe just my experience I dunno.

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post #39 of 49 Old 08-27-2014
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Re: Anyone ever sold at a profit?

>>Haven't tried to sell a sailboat lately have you?
>>Sorry the market is pretty sour right now... maybe just my experience I >>dunno.

You're right... there are more boats for sale now (at lower prices) than any time I can remember in the past 20 years. I'm guessing it's a combination of demographics (aging boomers getting out of sailing for health reasons) and the overall economy.
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post #40 of 49 Old 08-27-2014
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Re: Anyone ever sold at a profit?

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Haven't tried to sell a sailboat lately have you?
Sorry the market is pretty sour right now... maybe just my experience I dunno.
yeah I know its sour...same down here

it was a general statement

my last boat sale was early 2013

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