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-   -   Selling your boat (https://www.sailnet.com/forums/general-discussion-sailing-related/332802-selling-your-boat.html)

capta 02-19-2020 06:54 PM

Selling your boat
 
There are so many threads about having a boat for an investment (lol), getting into a boat that you can't get your investment out of, or some version of getting off the boat and using the money for something else.
But in reality, how many of us who are planning to buy a boat and sail away, or have already done that, never actually intend to sell the boat?
I for one, would rather pass on the boat doing this right up to the very last second, like John Dunker, rather than some hospital bed or old folks home. I never had any intentions of selling Skipping Stone when I bought her to sail away on for the rest of my life.




What say you?

contrarian 02-19-2020 07:18 PM

Re: Selling your boat
 
Depends on whether or not you can remain reasonably healthy and mobile into old age. Anything past 80 is a gift. No wait..... on second thought its all a gift! Took my 90 year old mother to the doctor today. Just getting her up out of her chair was a real chore. I was reminded how she always said "Getting Old Aint For Sissies"

RegisteredUser 02-19-2020 07:25 PM

Re: Selling your boat
 
Some people plan a step or steps before whatever their last one will be
All different, thankfully

roverhi 02-19-2020 07:35 PM

Re: Selling your boat
 
Fiirst, a boat is not an investment except for your own well being. Definitely won't help the kids inheritance.

What happened to Viking Funerals?? Some kind of timed fuse, flammable liquid, trim the sails, set the autopilot or self steering, and you're off to Valhalla.

bigdogandy 02-19-2020 09:27 PM

Re: Selling your boat
 
Iíve always thought of my boat as a lifetime friend, with no intention of ever selling her, but Moon isnít my only home.....I also have an old VW bus, a nice backpack and some good boots :)

And when I get to the point that Iím too infirm or senile to sail her, or enjoy the other adventures, maybe it will be time to consider the Viking funeral or have one of the kids or grandkids dig a big hole at the family farm and bury me and the boat and the bus and all the other junk Iíve collected and plant a nice pecan tree on top :)

chef2sail 02-19-2020 09:59 PM

Re: Selling your boat
 
I love my boat. Twenty three years of memory on Haleakula . She is my place of solitude. She is the place my wife and I bond away from everyday life distractions. Sailing is a passion also. I have in my career raced.i have had the luck to visit many countries and different regions of The US sailing. I like working on fixing upgrading Haleakula. I love hearing her humm at hull speed. I love the challenge of navigating. I like challenging weather. I love the boat puts me in nature which revives my soul.

However I try and keep this perspective. She is a material procession.

Spending the last 4 months rehabbing from a surgical procedure I am happy having a house ( another material procession ) to have the room in. I really never saw myself being hemmed in by only sailing in one area, whether it was the Carribean or the Chesapeake. I never see myself being hemmed in to not see the beautiful country ( and Canada ) by rail and RV.

There will come a time we get out of sailing. Selling our beloved boat Haleakula will be hard especially because of the above, the bonding and the memories. But both get carried with us while the material procession goes away.

Realize this is only for us and not a criticism as how others view their boats.

SchockT 02-19-2020 11:42 PM

Re: Selling your boat
 
Of course most boats are not a wise financial investment, however they ARE an asset, even if the asset value depreciates. Most people I know intend to upgrade to bigger, newer or faster boats, so protecting the resale value of their current boat just makes sense. By the same token there is nothing wrong with considering if upgrades will add to the value of the boat as part of the decision making process.
We could have added a lot more upgrades to our last boat over the 16 years we owned her, but many of the things we would have liked never got done because to us it just didn't make sense to sink that much money into a boat that wasn't our "forever" boat. Instead those things went onto our wish list for our next boat, and the money we saved got invested elsewhere. The money we did invest in the boat was mostly in maintenance and upgrades to hardware such as rope clutches, winches and a spinnaker. As it turned out we sold the boat for about what we paid for it, and more importantly it sold quickly because it was well maintained and well set up.
That strategy has paid off for us, because focusing our money elsewhere has made it possible to buy our retirement boat a bit earlier than anticipated, so I have a few years left to work and earn money to make the boat just the way we want it before I retire. I don't think so much about the money I spend on Azura because I consider it a long term investment in my retirement. This boat more than likely IS our "forever" boat, so it is all money well spent.
So I guess what it comes down to is what stage of boat ownership you are in. Are you still climbing the "boat ladder" or have you got your forever boat.


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chef2sail 02-20-2020 12:05 AM

Re: Selling your boat
 
Boats and Cars are usually not considered assets . Not sure I have ever heard anyone look at them that way after owning one for 5 or more years.

They depreciate greatly as the size increases. You have a nice boat, however it will never sell for anywhere what you bought it for in 10 years, while a house would usually in the right area increase in value plus the equity. House usually last longer, age more gracefully.

The only exception I see are the unique boats like Hinkleys.

The is no increase in assets attributed to the fun time you have either in a boat or a house.


Houses on the other hand can be assists.

SchockT 02-20-2020 12:56 AM

Re: Selling your boat
 
Quote:

Originally Posted by chef2sail (Post 2051654192)
Boats and Cars are usually not considered assets . Not sure I have ever heard anyone look at them that way after owning one for 5 or more years.



They depreciate greatly as the size increases. You have a nice boat, however it will never sell for anywhere what you bought it for in 10 years, while a house would usually in the right area increase in value plus the equity. House usually last longer, age more gracefully.



The only exception I see are the unique boats like Hinkleys.



The is no increase in assets attributed to the fun time you have either in a boat or a house.





Houses on the other hand can be assists.

A depreciating asset is still an asset. A house is a depreciating asset too, it is the land the house is sitting on that is the investment. An asset is something you own that has value. Cars, boats and houses are all taken into account when calculating one's net worth.

Of course we all accept that our boats are depreciating, and all we can do is try to slow that depreciation through maintenance and upgrades.

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Minnewaska 02-20-2020 06:14 AM

Re: Selling your boat
 
Itís probably a blessing for those whose clock runs out instantly one day. Or, at least quickly. 80-90% donít. They remain alive, with impaired mobility, balance, cognition, or other debilitating condition. Statistically, once youíve lived into your 60s, your odds are pretty good that you live into your 80s or longer.

It would be terrific to go out sailing to the last day. Itís the smallest odds it will work that way, but it does for some.


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