Join Date: Oct 2009
Location: Swarthmore, PA
Thanked 102 Times in 91 Posts
Rep Power: 8
If this guy were to go ahead and buy Boat X, what's the likelihood he can resell it later at the same price? If there's not much change in price I suppose there's not much risk in 'finding the right boat' over some time?
Many boats sell for about the same price they were purchased, but only after putting in $1000-$20,000 in maintenance and/or upgrades. The cost is usually not in the depreciation, it's in the expenses of holding the boat and keeping her seaworthy. Plus the seller's commissions, if you need to use a broker to help you sell. Plus the likelihood that it will take much longer to sell than you would like, so your money will be tied up until it finally sells, along with racking up slip/storage fees if she is not kept in your back yard.
Rick S., Swarthmore, PA
USCG Certified Captain, 50 Ton Master and OUPV
ASA Certified 101/103/104/105/106
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2001 Catalina 34MkII Tall Rig Breakin' Away, Universal Diesel M35B, Mantus 35 lb. anchor, sailing out of Rock Hall Landing Marina