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  #51  
Old 09-28-2013
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Re: Why buy a brand new $150,000 sailboat?

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Originally Posted by MarkofSeaLife View Post
Stop drinking alcohol
With all due respect, this is a sailing forum. There is scant room for such nonsense here.
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  #52  
Old 09-28-2013
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Re: Why buy a brand new $150,000 sailboat?

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Originally Posted by rbrasi View Post
With all due respect, this is a sailing forum. There is scant room for such nonsense here.
So does this mean you are a sailor with a drinking problem, or a drinker with a sailing problem?
I'm confused.......as normal.
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  #53  
Old 09-28-2013
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Re: Why buy a brand new $150,000 sailboat?

I am a dkfjievn ddu kfi wodjdoicj
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  #54  
Old 09-29-2013
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Re: Why buy a brand new $150,000 sailboat?

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Originally Posted by Group9 View Post
All you have to do is watch all of the yachts coming out of Trinity Marine, near where I live, to realize there are a lot of people with a lot of money, who insist on new. They are back-ordered several years, in fact.

One of my friends was the co-captain on a billionaires yacht. To say money was no object was an understatement. Costs just didn't enter the equation, on anything (he spend $30,000 once to have a non-essential part delivered quickly). I'm sure he would say, "Well if a ten million dollar yacht is all you can afford, you should just buy it and be satisfied with it."

Everything is relative.
Still, even Trinity had a very difficult time weathering the recession, they were barely hanging on for awhile...

There's a fascinating new book out about the megayacht industry, and Trinity and the build of the yacht LADY LINDA, in particular... GRAND AMBITION, by G Bruce Knecht, a wonderful reporter/writer who also authored THE PROVING GROUND, one of the best books about the Sydney-Hobart disaster a decade ago...

I recommend GRAND AMBITION highly, the book was over too quickly, for me... The people who commission these builds definitely do inhabit a different universe from you and I... However, as is the case with virtually every single one of these boats, she went on the brokerage market pretty much as soon as the owner took possession of her...

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G. Bruce Knecht, a former senior writer and foreign correspondent for the Wall Street Journal, contributor to national magazines, and an avid sailor, has just published “Grand Ambition,” the story of the construction of the megayacht Lady Linda.

Focusing on a number of the personalities involved in the project, from the owners whose tastes and demands were paramount, to the ship-fitters, woodworkers, hull fairers, and systems technicians who did the work, to the Ponzi schemer whose crimes almost undid the whole effort, the story is brisk, effortlessly told, and absorbing. Knecht obviously had access to most of the central personalities involved, and spent many hours observing and then describing the details of their lives.

With regard to Lady Linda’s owners, Doug and Linda Von Allmen, it is a cautionary tale. Construction was started just before the recent recession, and continued, amid rising anxiety, throughout. The 187-foot yacht was built by Trinity Yachts in Gulfport, Mississippi, with elements provided by companies in far-flung locales all over the world. Design specs and materials changed with the owners’ demands as their finances waxed and waned, and workers scrambled to maintain schedules even as the future of the shipyard itself was in doubt. With the Von Allmens’ wishes as flighty and changeable as Marie Antoinette’s, there are times when, considering such an extravagant show of ego in hard times, the reader wishes for an insurrection at the barricades.

But there are two sides to any such extravagance. As a young, highly skilled woodworker named Mitch Davies says, “I’m glad Doug Von Allmen is rich. If it wasn’t for rich people I wouldn’t have my job.” Davies, a New Zealander and a surfer, continues: “But it’s not a goal of mine. I don’t think it’s worth the stress. And I think that if you want to be rich, you never have enough.”

Knecht’s story is a tribute to Davies and the other craftsmen and laborers in the ship- and yacht-building industry, if not to the industry itself. There are examples of incredibly exact workmanship and high material expense (a single closet door that would take over 49 hours of labor to build and varnish), with every detail studied and brought as close to perfection as long-honed skills could manage. These examples are juxtaposed against the hard realities of subsistence wages and grueling, often unhealthy labor.

And there are ironies: rare beech-burl veneers meticulously matched by Mitch Davies, and exotic solid woods, all perfectly covered in so many coats of varnish that they can hardly be seen, and look like plastic. Or Von Allmen and Billy Smith, the head salesman for Trinity, railing against illegal immigrants, apparently unaware that much of the hard toil on Lady Linda, including the often toxic work of fairing the hull and deck with fume- and dust-laden compound, is being done by such workers.

But Lady Linda does, eventually, get finished, many millions of dollars and many thousands of man-hours later, in the summer of 2012. At a yacht brokers’ cocktail party on board immediately after delivery of the yacht to the dock behind his house, Von Allmen, weary of the struggle to bring the project to a finish, seems to confirm the words of Mitch Davies: “The magic has worn off a bit; we have been to so many places already. I still like looking at the water and the service you get on board, but there’s a bit of ‘been there, done that.’”

Grand Ambition, by G. Bruce Knecht: Constructing the Megayacht Lady Linda « www.yachtworld.com www.yachtworld.com
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Old 09-29-2013
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Re: Why buy a brand new $150,000 sailboat?

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Originally Posted by blt2ski View Post
Lets see, bought a 22K boat, then proceeded to put some 60K into it with sails, interior etc.....so about 85K. Could have bought a new version for just over 100K, and not spent all the time fixing it over 3 yrs, could have been sailing. Granted I did a pretty major redo vs some of you, but none the less.......

As far as new cars go. Just remember, if you buy a 3 yr old car, you have no warrenty to go with said car either. From a business standpoint, it is cheaper to buy a new car especailly a truck vs used. After some time, it costs more to maintain and fix a rig, than it cost to buy new. Hence why I have always bought new trucks for biz. For personal use, might make more sense to buy a used car. but have never penciled it out.

Marty
With regards to cars, a three year old car sold by a new car dealer of the same make usually comes with a warranty. The cars are sold as certified pre- owned. That warranty covers the car up to 100,000 miles. Which beats the standard, 3/36 and 4/50 warranties attached to new cars.

Though most people get hosed buying cars, (even so called educated buyers) it usually a better financial decision to buy used.

In a study of the buying habits of millionaires, DR Thomas Stanley showed an interesting example of attitudes towards money. . A young 30 something box salesman always bought or leased new BMW 5 series, and kept them three years. A Doctor with an income three times higher than the six figure income of the box salesman bought only 3 year old off lease BMWs. This he did on a 5 year cycle. The doctor was a millionaire several times over. The box salesman though not expected to have the doctor's net worth, and in spite of having a six figure income, was essentially broke. The upshot being had the doctor had the same attitude towards money as the box salesman his net worth would be substantially less.

Draw your own conclusions
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Last edited by TJC45; 09-29-2013 at 10:12 AM.
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  #56  
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Re: Why buy a brand new $150,000 sailboat?

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Originally Posted by MarkofSeaLife View Post
So think of all the employment those rich people are providing.
From the design and build phase, to cruising, chartering, crews, technicians rpovisioning, even taht freight forwarding company, polish and wax makers etc etc etc.

They are doing well spreading the money around.

If we didnt have rich people we would all be poorer for it.


Mark
And if all those workers would just stop drinking and put their noses to the grindstone they could be buying those boats instead of building them! That is your take on non millionaire workers right?
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Re: Why buy a brand new $150,000 sailboat?

Used sailboats are more comparable to old houses than used cars. A solid old house can usually be renovated for less than the cost of buying new. Same goes with buying an old sail boat. Buy a clapped out 30 year old plus sailboat, gut it and rebuilt it, all up 50k to 75k plus the cost of the boat. Lot cheaper and just as reliable as new.

Reason: you are not paying for the profit margin of several layers of manufacturing and distribution.
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  #58  
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Re: Why buy a brand new $150,000 sailboat?

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Originally Posted by JonEisberg View Post
Still, even Trinity had a very difficult time weathering the recession, they were barely hanging on for awhile...

There's a fascinating new book out about the megayacht industry, and Trinity and the build of the yacht LADY LINDA, in particular... GRAND AMBITION, by G Bruce Knecht, a wonderful reporter/writer who also authored THE PROVING GROUND, one of the best books about the Sydney-Hobart disaster a decade ago...

I recommend GRAND AMBITION highly, the book was over too quickly, for me... The people who commission these builds definitely do inhabit a different universe from you and I... However, as is the case with virtually every single one of these boats, she went on the brokerage market pretty much as soon as the owner took possession of her...



I know one of Trinity's yacht orders was canceled because the buyer found out he had lost 1.6 billion when Madoff's ponzi scheme got outed.

You wouldn't know they were having problems to sail by their yard, though.
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  #59  
Old 09-29-2013
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Re: Why buy a brand new $150,000 sailboat?

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you never have enough.
Therein lies the problem with the insatiable greed of mega-rich people. They could have every last nickle in the world and they STILL wouldn't be satisfied. To them there's never enough, only "more".

Kind of pathetic really - certainly vulgar.
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Re: Why buy a brand new $150,000 sailboat?

TJ,

Cars as you point out, I would believe. A truck as I use in my business, you never know what you will get with a 3 yr old rig! You may have a rig that looks clean, but has been overloaded or max loaded day in and out, with multiple drivers as I do to them. So at the end of the day, a new rig makes more sense. As by the time I sell them 5-10 yrs later, they are ready for a junk yard! I can also write off the truck. where as the dr is not writing off his car more than likely.

There is many ways to look at this depending upon how long one keeps a rig.

As afar as boats go, yeah, I would believe a boat is like buying a house. one can at times upgrade an older house boat for less than a new one. Again depending upon the type and style. what you are willing to put into it etc. I've seen people buy million dollar homes, then gut and remodel to the tune of 1.5 mil, and still only have a home worth 1-1.5mil! But they figure, by the time they live there for the next 10-15 yrs, they have made money per say on the home enjoying how it is etc.

Marty
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