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Old 07-03-2013
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"You make your money buying the boat, not selling it."

"You make your money buying the boat, not selling it."

These are the words of the guy who owned the boat we sailed over the weekend. He's owned about half a dozen boats over the years, and something like 70+ cars.

I didn't ask him to qualify the statement. I thought it spoke for itself. Just wondering how those who have bought and sold one or more boats feel about the validity of that statement.
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Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

I don't know what that means.

A wild guess is that he has lot taxable income, buy a boat is another tax write off. Use the boat as business, all the loss is tax deductible. The net gain is from the income tax he saves.

The beauty of our society. It takes lots money to make lots money. Don't fight it, embrace it.
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Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

Well My boat was bought for $2900 because I did not know crap and could have got it for $1500. I put about 12,000$ into it. In three years I will sell it for 6-7000$.
Id say hes dead on.
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Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

I have always said that about houses. The realtor would say, "why are you haggling over such a small amount, it would only be a few dollars more per month if you finance it." But, that is more in your pocket when you sell.
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Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

The guy is probably right. Still, most of us do not buy and sell boats every few years so it probably does not matter that much. And who buys a boat to make money???
In general, like a fair deal and will not try to haggle down a price just to save a few bucks. It's bad karma IMO. Treat others like you want to be treated.
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Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

I'm guessing he is saying buy right. Look at the boat very carefully and make a very wise decision to purchase the right boat and it will be a wise investment. You can buy the same two boats, I'll just pick an Ericson 35 as an example. I see them around at $27,000 in nice shape. You might get one needing work for $15,000, or one with new sails, engine, radar, rigging and lines, EPIRB, Liferaft, etc, etc for $35,000. IMO the $35k boat is a far better investment than the $15k boat, but it would be hard to imagine paying more than twice as much for the "same" boat.
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Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

I took it to mean most asking prices are too high, far more than the boat is actually worth. If you buy high, you have to sell high or you'll take a serious hit. Buy low and you can sell low and sell more quickly.

I've done a lot of research on what certain boats are worth and have had some feedback from the broker about list vs. sell prices. There's quite a gap. He also mentioned how sellers tell the broker what they want to list their boat at and the brokers agree just to get the listing. Then time goes by and no one is offering anything close to that price and reality sets in and the price drops.
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Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

Quote:
Originally Posted by JulieMor View Post
He also mentioned how sellers tell the broker what they want to list their boat at and the brokers agree just to get the listing. .
That is very true and a common tactic for some brokers. If a broker is honest and tells the seller what the boat is really worth, some less honest broker will not and end up with the listing. Much better, at least short-medium term, from the brokers perspective to get the listing and let reality play out over time.

Once the broker has the listing, in 99% of the cases it means payday, maybe not today or next month but eventually the price will be right and a sale will occur.

Last edited by jorgenl; 07-03-2013 at 04:38 PM.
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Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

Wise words, simply put.
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Old 07-03-2013
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Re: "You make your money buying the boat, not selling it."

That is a great line.

Every dollar you save on the purchase is money earned.
Every after tax dollar you don't have to spend is 2 pre-tax dollars you don't have to earn. if you can shave $1000 off the price, you've made $2K.
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Last edited by bljones; 07-03-2013 at 07:46 PM.
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