Donating my Cal 29 to Charity - Page 4 - 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 > General Interest Forums > General Discussion (sailing related)
 Not a Member? 


Like Tree26Likes
Reply
 
LinkBack Thread Tools
  #31  
Old 08-01-2013
Junior Member
 
Join Date: Oct 2012
Posts: 29
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
SV Glossa is on a distinguished road
Re: Donating my Cal 29 to Charity

Thanks - I'm actually taking the CPA exam in two weeks so this may come in handy. Individual taxation is heavily tested.
Reply With Quote Share with Facebook
  #32  
Old 08-01-2013
MobiusALilBitTwisted's Avatar
Senior Member
 
Join Date: Jun 2007
Location: in a truck
Posts: 178
Thanks: 3
Thanked 1 Time in 1 Post
Rep Power: 7
MobiusALilBitTwisted is on a distinguished road
Re: Donating my Cal 29 to Charity

I have gotten 2 boats form Charity, take the cash pay for your classes,
__________________
MobiusALilBitTwisted
S/V
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

1985 Venture 25
Fl Gulf Coast

"Ouch!
My eyes are bleeding."
Bob Perry


GrahamO
"Möbius,You need another drink. You are starting to make sense".
Reply With Quote Share with Facebook
  #33  
Old 08-01-2013
Senior Member
 
Join Date: Sep 2010
Location: Dunedin, Florida
Posts: 180
Thanks: 2
Thanked 2 Times in 2 Posts
Rep Power: 4
HeartsContent is on a distinguished road
Re: Donating my Cal 29 to Charity

Donating to the Sea Scouts would be really nice if they intend to add it to their fleet and not sell it. It would get great use. I see the local Sea Scouts go out constantly here.

There is absolutely no way you come out financially ahead by donating the boat. You sure aren't hurting the prospective buyers, there's plenty of boats out there.
__________________
Catalina 36 MKII
Florida
Reply With Quote Share with Facebook
  #34  
Old 08-01-2013
shadowraiths's Avatar
Senior Member
 
Join Date: Nov 2011
Location: On my sailboat
Posts: 243
Thanks: 24
Thanked 9 Times in 9 Posts
Rep Power: 3
shadowraiths is on a distinguished road
Re: Donating my Cal 29 to Charity

Well, if you really want to donate your boat, why not contact a local disabled sailing association, such as Footloos Disabled Sailing Association, in Seattle?

If, otoh, you're just wanting to donate it bc you're pissed off at people who do not see the "intrinsic value"? Um, yeah, sure. Cut off your nose to spite your face. That's the ticket. Sure it is.
miatapaul and denverd0n like this.
Reply With Quote Share with Facebook
  #35  
Old 08-01-2013
blutoyz's Avatar
Senior Member
 
Join Date: Oct 2012
Posts: 564
Thanks: 10
Thanked 6 Times in 6 Posts
Rep Power: 2
blutoyz is on a distinguished road
Re: Donating my Cal 29 to Charity

Your boat, your decision.

I think $4-6K is a fair number so you shouldn't be insulted. Sell the Honda for real money and throw the boat up there for $4K without engine.

Just my $.02
TJC45 likes this.
Reply With Quote Share with Facebook
  #36  
Old 08-01-2013
denverd0n's Avatar
Senior Member
 
Join Date: Jun 2008
Location: Tampa, FL
Posts: 777
Thanks: 0
Thanked 14 Times in 14 Posts
Rep Power: 6
denverd0n is on a distinguished road
Re: Donating my Cal 29 to Charity

Quote:
Originally Posted by SV Glossa View Post
Every boat has an intrinsic value that is not tied to changes in the market. I think $8K is a good value when you consider what they're getting.
No offense, but just because you think that, it doesn't make it true. If the boat has been on the market for a while, and you haven't found a buyer, then you are asking too much. The market sets the price, regardless of what you might think.

If you need a tax deduction, fine. Of course, the IRS is going to want you to be able to clearly explain how you determined the boats value. I can guarantee you that "I think $8K is a good value" is absolutely NOT going to satisfy them.

If you don't really need the tax deduction, then you would probably be money ahead to accept the fact that the boat is not worth as much as you think, and negotiate a deal with one of those "lowball" buyers.

Good luck, whatever you do.
TJC45 likes this.
Reply With Quote Share with Facebook
  #37  
Old 08-01-2013
Senior Member
 
Join Date: Jul 2013
Posts: 406
Thanks: 9
Thanked 14 Times in 13 Posts
Rep Power: 1
TJC45 is on a distinguished road
Re: Donating my Cal 29 to Charity

Take the 4k and run!!!!

There is no way to know the actual value of a boat this old. And a boat with a mixed bag of improvements and work needed to be done. Granted the boat gave you and your family a lot of good times but to a objective buyer it is what it is. And what it is, is an old boat.

IMO, you are getting in over your head offering financing. Even at full price, 8k ain't a ton of dough. If someone can't come up with that amount they aren't the kind of people you want to be trusting to make payments. Boating on a shoestring budget usually doesn't work out. That, and what are you going to do if they stop paying you? Sue them long distance? How much time and money is that going to take? And if you do sue them how are you going to defend yourself against claims that you defrauded them by misrepresenting the condition of the boat? Of course it's BS!!! It just gets so deep that even hip waders aren't enought to deal with the mire you are setting yourself up for.

I'd take the 4k and consider the rest of whatever you have into the boat as an investment in family entertainment. IOW, money well spent. Then move on.
Reply With Quote Share with Facebook
Reply


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
Charity Event AlexAlley General Discussion (sailing related) 1 10-12-2009 05:58 AM
Donating my boat kpdii General Discussion (sailing related) 9 08-19-2009 11:12 AM
Across the sea to help charity (The Comet) NewsReader News Feeds 0 04-13-2006 06:18 AM


All times are GMT -4. The time now is 12:51 PM.

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