Owning a Boat is EXPENSIVE!

[mccary]

I am thinking some people here are confusing the depreciation of a boat to the resale value of that boat. If you buy a boat for $100,000.00 and sail it away, sure it depreciates instantly as a used boat. And each year it continues to depreciate by some amount. This is NOT a tax deductible expense (unless your boat is set up as a business in USA). But for those who feel compelled to put a dollar value on their passion of sailing the have at it. Myself, I buy the boat I can afford and sail it. If and when I decide to sell my boat I will dig up the resale value; until then It is my boat and that's all that matters. Now I do struggle with recurring expenses like slip fees, yard fees for haul outs, new sails, engine repairs, dock lines and the ever constant upgrades (I am buying new ST winches this year), etc. Those expenses are real and do cost a bundle. My suggestion is if you are they type of person who feels compelled to put a dollar amount on your sailing, either charter or crew on a friend's boat, its way cheaper annually.

[seafrontiersman]

With respect to Capt. Greenfield....

Bull***t!

I have investment money and I have disposable (and I do mean disposable) income and I don't mix the two. I agree with you that buying a boat is not a good investment strategy unless you are a salvor but I'm willing to forgo other pleasures to sail. By the way, sailing is good exercise and good health is about the best investment a person can make; just sayin...

Mike

[christsake]

I took accounting in college and you guys are killing my brain cells.
Here is how I see it.
My boss is an idiot, pays me squat, I get frustrated at not being in control. Everyone tells me "Don't do this, don't do that!"
For the prie of sailing ($1600 slip fees...$800 on the hard fees...$200 in diesel fuel...$200 in repairs ((at least SOME repair per year)..total = $2800

To be out in the wind, in control, away from the Marina Moron, the crap of society, the ills of no retirement, and all the rest of the **** life offers...then to me sailing is priceless....

[seafrontiersman]

christsake:

AMEN Brother! I couldn't say it better myself!

What we're talking about here is freedom, not soybeans or real estate or pork bellies.

Nothing is so important than freedom and no one is more free than when he is on the water in his own craft.

[mccary]

"What a ship is, you know, it's not just a keel and a hull and a deck and sails, that's what a ship needs. But what a ship is,... really is, is freedom."
-Johnny Depp, as Captain Jack Sparrow

Pirates of the Caribbean-

[johnshasteen]

Stop trying to figure out how much it will cost, how fast it will depreciate or what will it cost to keep it up - if you want a boat, buy it and enjoy it. That's what you all do with cars - pay big bucks, drive it off the lot and lose your ass. Keep trading cars and you'll keep losing your ass. My theory is buy the car and boat you want and keep it for so long that cost and depreciation don't matter. I bought my '84 300CD Mercedes new in Nov '84 for $36,630 - is it worth that now - of course not - have I gotten my money's worth after 25 years - yep!! I bought Paloma many years ago for a lot of money - is she worth the big $$$ no that she's 30-years old - of course not - have I gotten my money's worth -yep!!

[J24mark]

I have made money on every single boat I have owned. To name a few:

Monterey 190 ski boat
Tanzer 22
Hobie 18
Coronado 25
Etc.

[Wannafish]

Originally Posted by J24mark

I have made money on every single boat I have owned. To name a few:

Monterey 190 ski boat
Tanzer 22
Hobie 18
Coronado 25
Etc.

That's good, cause I've LOST money on every boat I've owned (6 = 3 sail, 3 power). Would I do it again? You bet. I love boating!

[SSBN506]

Boats are quite simply a big wast of money. But I cant think of a better way to wast it. Just don't wast more then you can afford.

[therapy23]

Originally Posted by SSBN506

Boats are quite simply a big wast of money. But I cant think of a better way to wast it. Just don't wast more then you can afford.

And there you have it.