Owning a Boat is EXPENSIVE!

[ChuckA]

There obviously will be some variability in the arithmetic, but I get Fred's basic point. The price of the boat ain't the cost. I've always bought older boats, fixed them up, and maintained them myself, and it always cost more than I expected. I've never sold one for as much as I paid for it. Whenever I hear someone talk about investing in a boat I like to remind them that a boat is an expense, not an investment. Although, there are a few rare cases, where I've heard that it's actually possible to make money buying and selling. I've never experienced that myself. I also agree with the person who said he spent his money on women and boats and wasted the rest . Last year, I started out tabulating all my expenses, but I didn't get through January, when I couldn't stand to look at the total and gave up the idea. I stick with the old school economic theory of spending less than I make, and it will be OK.

Happy New Year!
Chuck

[Calabego]

Excellent thread. What started out to be a an infomercial-blog lure turned out to be some very heartfelt comments about the benefits of boat ownership that we well...don't really take for granted, IF we consider the costs, but sure do enjoy over fighting for the charter table scraps during peak vacation times. I'm afraid I have to agree with everyone who shared the justifications for the why's of their dream.

Do I own ? Yes. Paid cash, VERY affordable slippage, and maintenance.
She's a small boat, won't be making any transpacs, and IS available everyday, rain or shine, planned, or on short notice and can and does serve as a comfortable weekender. She's one year younger than I am, but she's in better shape.
Will I charter? Yes, once a year in the US/BVI's and at least once a year in the San Juans (although trailering my baby up there hasn't been ruled out) until I pull the trigger on my 10 year plan and acquire my own 36'-46' cruiser and pay transient fees and the occasional passage fees to move her through the canal while I cruise until she won't float anymore.

[CalebD]

Not that Capt. Fred needs an advocate here I think some of the posts here were a little premature and testy. Fred is selling free advice - I checked his website and he does not seem to be in the chartering business so he is not selling charters on his or anyone else's boats. His advice is directed towards people who do not already own boats and most of you have already figured out the finances of owning your own boats by now and are happy with the trade-offs you have made for the joys of owning your own boats.
He posted his piece in the boat buying forum which is the right spot for this kind of advice (even if you do not entirely agree with his points) for prospective boat owners. I say he is only guilty of linking his web page (which most of you do as well) and of complaining about the neglect and misuse of boats. As someone already pointed out those neglected boats can become another man's bargain.
I say cut old Capt. Fred some slack. His basic premise is true: boats are expensive. This is not news to most everyone here though.
Happy New Year.

[CaptKermie]

Originally Posted by Calabego

Will I charter? Yes, once a year in the US/BVI's and at least once a year in the San Juans (although trailering my baby up there hasn't been ruled out) .

Trailer your baby up there! You won't regret it.

I'll fourth that remark that sailing isn't expenive or inexpensive it is PRICELESS!
There isn't a drug in the world that can do for you what sailing can do even if sailing does cost more.

[xort]

Owning a sailboat is PATRIOTIC!

I spend every last dime I can on stuff and services, keeping the economy afloat (NO joke!). I demand respect and a salute for my patriotism. All hail me! And you too, except you non-boat owners. You know who you are. You should be ashamed.

[seawitch1906]

I have no idea what is the reason dear "captain" to post this accounting jewel of yours ...?
try to steer away anyone who dreaming to go sailing?
no one here ever purchased a boat for any rational reason BUT FOR THE LOVE of this wonderful lifestyle ..
why rain an our parade ?

with your SO detailed summary .. you should perhaps paddle on other site like .. "accountant central," or "life is misery " but please stop poring this cold water on our neck ...

glass is all empty for you all the time? I feel sorry for you , and your "revelation" is pointless at least here it is.
NO.... sailing is not expensive .. missed out on life IS


TA TA

[hellosailor]

"Its meant to provide some " traffic to Fred's web site, is all it is.

He forgot that most of us earn big bucks from sponsors for our boats, only fools SPEND money on sailing. Every time that big PEPSI logo on my spinnaker makes it onto a TV spot, KA-CHING, another four-figure deposit hits my offshore account.



Beats all hell out of the pennies per hit that Fred gets for the ads on his web site.

[bljones]

Funny that this thread came up, as I am just tallying up my boat expenses for our first year of ownership. My numbers are a little different from yours- size does matter.
The boat in question is a 1973 23' Georgian. All figures quoted are Canuck bucks.
Purchase price (all in, including tax, and survey): $6000.00
Dockage cost: $890 (May- October, No water or shorepower. Serviced slips in our marina run $5-600 more.)
Fuel cost: $38.75
Pump out cost: $60.00
Maintenance: $626 (injector rebuild $372, new lines $70, new nav lights $24, bottom paint, sandpaper, epoxy, etc., $110, cleaning supplies $50)
Upgrades: $442 (new bbq and cover $129, charts $40, nav tools $30 cockpit table $35, hatch screen $36, chart bag $25, floating toy $69, new pfd's/bag $78.)
Cooking fuel: $18
New cradle: $1248
Haulout costs and winter storage: $498
Insurance: $175

Total $9995.75
Number of days spent on boat: 98
Number of nights spent on boat:36
Number of miles sailed: 374 (we're not passagemakers...yet.)

So, I figure that it cost me just a little more than $100/ "boat day" to enjoy my boat this summer, without getting fancy with hypothetical depreciation calculations, forward calculating maintenance, deducting one time costs such as purchase price and cradle, etc.

My bottom line is that if my boat sunk tomorrow and it was a total loss, I have still spent less than it would cost me to spend an equivalent number of days at a Best Western. And just try to get a Best Western room to tack.

[7Psych]

Originally Posted by seawitch1906

I have no idea what is the reason dear "captain" to post this accounting jewel of yours ...?
try to steer away anyone who dreaming to go sailing?
no one here ever purchased a boat for any rational reason BUT FOR THE LOVE of this wonderful lifestyle ..
why rain an our parade ?

with your SO detailed summary .. you should perhaps paddle on other site like .. "accountant central," or "life is misery " but please stop poring this cold water on our neck ...

glass is all empty for you all the time? I feel sorry for you , and your "revelation" is pointless at least here it is.
NO.... sailing is not expensive .. missed out on life IS


TA TA

+1,000,000,000,000,000,000

[bljones]

My point is, sailing is as expensive as you want to make it. If you have no inclination to get your hands dirty, must have a boat big enough to sleep eight, need the newest, bestest electro gizmos and granite in the galley, need a big slip complete with cable tv and phone, and then have to work through 90% of the sailing season just to keep ahead of the costs, then yeah, chartering certainly makes more sense.

However, sense and sailing rarely seem to collide in the same sentence.