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Master Mariner
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Discussion Starter #1
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?
 

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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"
 

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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.
 

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I’ve always thought of my boat as a lifetime friend, with no intention of ever selling her, but Moon isn’t 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 I’m 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 I’ve collected and plant a nice pecan tree on top :)
 

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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.
 

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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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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.
 

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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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It’s probably a blessing for those whose clock runs out instantly one day. Or, at least quickly. 80-90% don’t. They remain alive, with impaired mobility, balance, cognition, or other debilitating condition. Statistically, once you’ve 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. It’s the smallest odds it will work that way, but it does for some.
 

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I guess I should clarify. A boat paid off Or where the equity in it is greater than the payoff is a positive asset.
A boat which is mortgaged is a negative asset if the selling of it doesn’t meet the mortage payment.

Depreciation is steep until it levels of at approx 100 a foot

http://www.boatpokers.com/data/martinscales.pdf
 

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I think capta is talking about the idea of buying a boat giving consideration to resale value because you "know" when you buy it, you are going to sell it some day.

Although we've owned 5, we never thought of it that way. The 5 boats describe different times in our lives with different needs and goals. I can say for 100% sure, that when we sold each of them, if you considered ownership, maintenance, and upgrades, we lost money on every time. Most of us don't do the math, because we don't want to think about it.

I've thought multiple times, this is the last one. Each time I've been wrong.

I've never thought of a boat as an asset. It maybe technically, but so isn't a pile of money that you throw into a fire, 100 dollars at a time.

Rational thought has nothing to do with sailboat ownership. It's bad transportation, it's more cramped than living on land unless you own a Perini and even then your house is probably 10X bigger, it's more subject to the vagaries of weather, it doesn't appreciate in value, it deteriorates faster than any house unless you put your house on a giant mechanical shaker and spray salt water on it all day.

Sailboats are about the soul. Put a price on that?
 

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Old soul
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I've certainly never thought of my boats as investments. Sure, they're assets, but much like cars, I don't really expect them to retain value over time.

But I've never bought a boat with the intention of making money. Heck, I've never bought a house with that intention either, so I'm probably odd. My view is that these items are there to enhance my life, or as a basic requirement of living (a roof).

I guess this explains why I'm financially poor, but rich in all the things that really matter :).

I have no plans to sell our current boat. Although I can certainly see some scenarios where that could happen. If/when I do, I hope to get close to what I paid initially. Although there's no way I would expect to recoup all the money I've put into her. Not unless leaky teakies become collectors items.
 

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The reality is that, even if you plan to sail it until your dying day, your boat is going to have to be disposed of in some way, some day. You may leave that problem to your heirs, or the state, to deal with, but it WILL have to be dealt with in some way. Yes, even with a "Viking Funeral," someone has to set the fire, and then the environment deals with the consequences.

Love the boat, sure. That's fine. Realize, however, that it does not love you. It is not a person, or a pet, that can love you back. In the end it is, as someone else mentioned, a material possession, just like all your others.
 

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I guess to succinctly answer the question in the OP, I have no plan or intention to ever sell my boat. I recognize that I will
probably change my mind, before I die.
 

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A romantic idea. But it reminds me of this question and answer:

Q: Who wants to live to be 100 anyway?

A: A man who is 99.

My parents are both past 90, driving and enjoying life in their own home. But they are not physically capable of sailing a boat. 6-8 years ago, yes, I think they could have. No, I don't think I would want to live in a hospital bed. I would hope someone would help me leave. But there is a lot in between.
 

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Captain Obvious
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In terms of what you personally want to do, I respect those who just want to stay on board but its certain that something will take us off before we are really ready. You can plan and manage that yourself or you can leave that to your heirs. It would be good to find a great owner for the boat.
 

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I remember an old couple in our club who sailed the same old wood 45ft boat for decades. I was particularly impressed when they showed up to where we were tied up one foggy night, having come through a narrow rocky pass to get there. I'm sure they were pushing 90 when they finally were forced to sell their boat. I think the last few years they were no longer able manage sailing so they just motored everywhere.

There will come a time in everyone's life where their bodies just won't be up to the rigors of sailing, unless illness or accident takes them first.

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Old soul
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Many years ago I met an old guy at my first yacht club shortly after buying my first new (old) boat. Realizing how little I knew, he became a bit of a mentor; helping me with sailing, and with boat maintenance projects.

He always soloed, and basically lived alone on his boat during the summer months (northern Ontario). He was well into his 80s and as the years went on he was more often seen just sailing with his jib, but he was still out there, doing it.

I moved on, but later learned that he had gone missing one season. A search eventually found his boat nicely anchored. He was was found dead on board. It looked like he'd had a heart attack.

I hope he died a happy man. He certainly died doing the thing he loved.

Not a bad way to go.
 
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