Anyone ever sold at a profit? - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > On Board > Boat Review and Purchase Forum
 Not a Member? 


Like Tree17Likes
Reply
 
LinkBack Thread Tools
  #1  
Old 08-23-2014
rbyham's Avatar
Senior Member
 
Join Date: Dec 2012
Posts: 422
Thanks: 0
Thanked 8 Times in 7 Posts
Rep Power: 3
rbyham is on a distinguished road
Anyone ever sold at a profit?

I am considering purchase of a second sailboat. I have one in the water but might want a trailerable.

I like project boats and think I have found one. Unfortunately in my effort to convince the Mrs. I made the statement that "it might be the kind of boat I could resell and make a few bucks." she laughed and said "show me even one story of someone making money on a sailboat otherwise I remain unconvinced."

So can I get an assist here? Anyone have a story? Anyone figured out how to turn a profit in boat buying/fixing/selling?

Thanks...
Reply With Quote Quick reply to this message Share with Facebook
  #2  
Old 08-23-2014
Bristol 45.5 - AiniA
 
Join Date: May 2006
Posts: 3,618
Thanks: 5
Thanked 87 Times in 75 Posts
Rep Power: 9
killarney_sailor is on a distinguished road
Re: Anyone ever sold at a profit?

Do you have a convenient time machine? The first three or four boats I owned in the 1970s all sold at a profit. Since then, well ...
__________________
Back in the water in Grenada - with new main and #2 and cockpit canvas (Santa came early). Will spend the winter and early spring in the Caribbean and then head to Bermuda and the northeast US. Still trying to decide if we will bring the boat to Canada, either in 2015 or 2016.
Reply With Quote Quick reply to this message Share with Facebook
  #3  
Old 08-23-2014
Sabreman's Avatar
Senior Member
 
Join Date: Sep 2006
Location: Yeocomico River, VA
Posts: 1,621
Thanks: 3
Thanked 15 Times in 12 Posts
Rep Power: 10
Sabreman will become famous soon enough Sabreman will become famous soon enough
Re: Anyone ever sold at a profit?

Quote:
Anyone figured out how to turn a profit in boat buying/fixing/selling?
Catalina, Beneteau, etc.

For used boats, understand that a boat is not an investment. It is an asset that declines in value if not maintained to a high level. Some boats depreciate more rapidly than others. A boat is generally not like a car that may be sold at auction for high amounts. A boat is bought because the owner wants it.
__________________
Sabre 38 "Victoria"
Reply With Quote Quick reply to this message Share with Facebook
  #4  
Old 08-23-2014
smackdaddy's Avatar
Last Man Standing
 
Join Date: Aug 2008
Posts: 13,548
Thanks: 98
Thanked 98 Times in 92 Posts
Rep Power: 9
smackdaddy is a jewel in the rough smackdaddy is a jewel in the rough smackdaddy is a jewel in the rough
Re: Anyone ever sold at a profit?

I actually think it would be "doable" if all you're doing is flipping it. But I think it would take a tremendous amount of time to find the right boat (well equipped and maintained with a below-market price) - then it would be even harder to sell it fast enough to offset dockage fees, etc. The margins are just too small and the risks too big I would think to make it worth trying.

So, doable - probably. Practical - never.
oysterman23 and paikea like this.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

S/V Dawn Treader - 1989 Hunter Legend 40
Reply With Quote Quick reply to this message Share with Facebook
  #5  
Old 08-23-2014
Junior Member
 
Join Date: Aug 2014
Posts: 10
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
James L is on a distinguished road
Re: Anyone ever sold at a profit?

lol...I just bought a Islander 26. Got a great price but with the time and money I am putting into it, I can't imagine getting a profit. Before I bought my "Lifestream" I saw a lot of boats while shopping. Almost all of them sold for below market value. Me thinks the wife wins this one, unless you can get very creative with a new story..
Reply With Quote Quick reply to this message Share with Facebook
  #6  
Old 08-23-2014
Senior Member
 
Join Date: Nov 2013
Location: Southern Tier, NY
Posts: 154
Thanks: 6
Thanked 12 Times in 12 Posts
Rep Power: 2
CharlzO is on a distinguished road
Re: Anyone ever sold at a profit?

really depends on the deal. For example, the Hurley 22 that my brother and I picked up, even if you include the cost of the trailer refit to strengthen it, plus the few missing rigging parts, we could still turn a decent profit on. That's only because there are no other issues with the boat, other than it needed a very good cleaning, and some turnbuckles replaced. But I'd say it's safe to assume that it's a minority case when that happens, it's really a hit or miss. You basically need a boat that needs almost nothing, that you bought for almost nothing, and can find someone to pay a bit more than nothing.

edit: to elaborate: If you aren't picking it up at well below market value, it'll be almost impossible to resell for a profit. Even doing the labor yourself on projects, you still have material costs. And unless you are in it for way under market, the odds of recovering the cost of the boat + the materials is going to be very hard, and that's assuming you value your time at free.
__________________
1970 Islander Excalibur 26 - Under Restoration

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Quick reply to this message Share with Facebook
  #7  
Old 08-23-2014
Senior Member
 
Join Date: Nov 2012
Location: Hood River
Posts: 310
Thanks: 1
Thanked 4 Times in 3 Posts
Rep Power: 3
hannah2 is on a distinguished road
Re: Anyone ever sold at a profit?

we did it in 2008 which was a really bad year to sell a boat. Had sailed from Seattle to New Zealand 2007 to 2008. Our son decided he did not want to continue being home schooled and wanted to go to high school so we put boat up for sail in New Zealand. Hired a broker to sell her and that was a disaster, fired him and just put the word out there. Two week later we sold our Mason 44 for 6 K more than we bought her for and put into her and sailed for for two years. Mind you our Mason was in perfect shape all new everything and well maintained. The buyer was from Austria and wanted a boat he could sail in the South Pacific right out of the dock. I took the 6 K and put in a new SSB for him and offered to help sail the boat back to Fiji when the season came.

We hope with our new boat a Boreal 44 that we will break even or make a profit again as the company has now about a 3 year waiting list from order to completion. We get emails from time to time from sailors wanting to buy her if we decide to sell her and at the price we want. I see where Boreal was nominated Europen boat of the year once again.
It can be done.
Cheers
paikea likes this.
Reply With Quote Quick reply to this message Share with Facebook
  #8  
Old 08-23-2014
eherlihy's Avatar
Learning the HARD way...
 
Join Date: Jan 2007
Location: Boston / Ft Myers Area
Posts: 3,670
Thanks: 124
Thanked 74 Times in 73 Posts
Rep Power: 8
eherlihy will become famous soon enough
Re: Anyone ever sold at a profit?

I have not, but understand that this is how to do it;
  1. buy late model boat (Bene-hunt-alina) that has suffered some kind of mishap at a discount
  2. immediately put the boat into charter service
  3. deduct any and all improvements/repairs as a business expense
  4. after two years, once the boat is squared away, sell it at a (modest) profit
davidpm likes this.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

USCG Licensed OUPV Captain, ASA 101/103/104/105 Certified Instructor - Also certified in Recreational Marine Electrical Systems
Reply With Quote Quick reply to this message Share with Facebook
  #9  
Old 08-23-2014
smackdaddy's Avatar
Last Man Standing
 
Join Date: Aug 2008
Posts: 13,548
Thanks: 98
Thanked 98 Times in 92 Posts
Rep Power: 9
smackdaddy is a jewel in the rough smackdaddy is a jewel in the rough smackdaddy is a jewel in the rough
Re: Anyone ever sold at a profit?

Quote:
Originally Posted by hannah2 View Post
we did it in 2008 which was a really bad year to sell a boat. Had sailed from Seattle to New Zealand 2007 to 2008. Our son decided he did not want to continue being home schooled and wanted to go to high school so we put boat up for sail in New Zealand. Hired a broker to sell her and that was a disaster, fired him and just put the word out there. Two week later we sold our Mason 44 for 6 K more than we bought her for and put into her and sailed for for two years. Mind you our Mason was in perfect shape all new everything and well maintained. The buyer was from Austria and wanted a boat he could sail in the South Pacific right out of the dock. I took the 6 K and put in a new SSB for him and offered to help sail the boat back to Fiji when the season came.

We hope with our new boat a Boreal 44 that we will break even or make a profit again as the company has now about a 3 year waiting list from order to completion. We get emails from time to time from sailors wanting to buy her if we decide to sell her and at the price we want. I see where Boreal was nominated Europen boat of the year once again.
It can be done.
Cheers
This is actually a great point. Buying a boat in a "strong supply/weak demand" market, then taking it to an area that has "weak supply/strong demand" can definitely work.

Nicely played hannah.
paikea likes this.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

S/V Dawn Treader - 1989 Hunter Legend 40
Reply With Quote Quick reply to this message Share with Facebook
  #10  
Old 08-23-2014
JoeLena's Avatar
Senior Member
 
Join Date: May 2012
Location: Atlanta, Georgia
Posts: 164
Thanks: 9
Thanked 7 Times in 7 Posts
Rep Power: 3
JoeLena is on a distinguished road
Re: Anyone ever sold at a profit?

Two years ago I bought a Rhodes 19 for $200 at the end of the season. Had been sitting a couple of years in a field. Over the course of the winter I spent about $4000 on it and did everything myself. That included a new outboard as well. It was very much like a new boat when complete, very pretty, with good hardware and all else. About the 4th time I sailed it a guy offered to buy it. We settled on $7800.

So I made some money, but I made the mistake of not keeping good track of the time investment. I most likely 'paid' myself way less than minimum wage. I did learn a great deal enjoyed most of the process. I think I will not take on another project boat though, my Catalina was in pretty decent shape, and it is still like a project at times.
paikea likes this.
__________________
'72 Catalina 27 Tall Rig #519
Reply With Quote Quick reply to this message Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now

In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Profit from boat value differences Barquito Boat Review and Purchase Forum 7 02-17-2009 08:05 PM
Pipe-dreams with a profit LiamM General Discussion (sailing related) 0 07-23-2008 12:29 AM


All times are GMT -4. The time now is 07:33 AM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.