beat this! money lost on boats!

[thataway]

A boat can be a "magic carpet" to other worlds and ways of life. This does not have to be a world cruise, but even just a trip to the San Juans, Gulf Islands of Broughtons, will bring you in touch with people whose lives are far different than yours. However, you share a common bond: the sea. We have enjoyed fishermen, who only owned a wooden dugout canoe, on up to being inivited a board a megayacht with two pilots, two Vallets and a crew of 10... All of our wanting to adventure on the water. There is no price tag that can be put on those experiences.

Recently my daughter had to write a paper in a competition to have her private school send her to a conference. The paper started with her experiences as a young child, as we exposed our children to foreign cultures. Her expectations were far different from the reality of the people she met. This essay got her the ticket to the conference.

[nickyn99]

[Mawgie]

Brand Newbie Mawgie here-

I am shopping for only my second power boat, most likely a used C-Dory 22 Cruiser. My first was a Starcraft Fishmaster, bought in January here in Upstate NY, for $9,000, after an estate sale. (I went back with cash after the sale closed.) Mint, low hours, full canvas, trailer.

The I/O rattled and hummed the entire aluminum boat. Never really cottoned to it. Wife never liked the utterly spartan fishing layout and lack of seating. Me neither.

Also, at the time, we owned rental property, and I was spread way too thin to carve out any time to meaningfully boat. We ended up selling the boat for $12,000 two years after buying it, with the only major expense being new leaf springs for the trailer, which catastrophically let go on the tow home from the first cruise. (My first ohh sh** moment trailering, and a dandy.)

I could torture the numbers and claim I made money, but between pre-purchase inspection, fuel, insurance, sales tax, new springs, outfitting the boat, etc., it was closer to break even.

Flash forward, I am now almost 50 years old, rental property is sold, and we want to have at it, more comfortably, while we can. The C-Dory, even if it is not for us in the long run, is a great choice. I may take a hit reselling it, but likely not a bad one, so long as I hold out and buy one pretty well.

In our case, a C-Dory purchase is being evaluated against alternative purchases like a regular upgraded summer rental, a primary residence upgrade, a motorhome, etc., all very discretionary purchases, at least for us. These alternatives are will all lose more money than a decent C-Dory purchase, methinks......

We don't plan to make a penny. I just plan to buy a sound boat used, at a good price, enjoy it and continue to live well within our means while we do so, and keep the hit within reason when I resell it.

It seems to me that many of the folks who have never lost any money on boats: 1) have connections to boats for sale that many do not, and get deals the average bear will never have a crack at; 2) have DIY skills to repair and refit, and leverage same; and 3) fudge the numbers by paying themselves $0 per hour for time spent acquiring, repairing, refitting, using, then reselling the boat, when it comes time to analyzing how much they "did not lose" while owning the boat......

My newbie 2 cents.

Finally, as the old adage goes, isn't it true that the best way to make a small fortune owning boats is to start with a big one............

Regards-Mawgie

[thataway]

My impression is that the C Dories in general have decreased in value a bit more in the last few years--where for some time they were holding their value pretty well. (That is they were selling used, for about what was paid for them new--xxx years ago.) Recently the cost of new boats has skyrocketed--and the Tom Cats were considerably more expensive to start with. Since I last wrote on this thread, I sold the Tom Cat 255, and I had well over $130,000, plus about $15,000 in the truck, so took about a $40,000 hit.

Probably a good time to buy a used 22 older than 2006--the 25's seem to be still holding the price, and the Tom Cats are down from their purchase prices. My suspicion is that the Tom Cats will stay pretty stable at the current prices. But a lot will depend on what happens with the economy in the next few years. If it remains bad-then boat prices may come down a bit more. My impression is that the boat builders are optimistic based on this last spring's sales--and then the market and national economy was more stable than currently....

In any case--there are some good buys,--get a boat and enjoy!

[NORO LIM]

Honestly, if I had to give my boat away and take a 100% loss on "investment," I'd still view it as the best purchase I ever made. I know not everyone sees their boating experience the same way. But if I think of the absolutely miniscule percentage of the human species that has gone the places I have and seen the things I have, or has just spent thousands of hours on the water as I have - all in one cool boat - well, it's hard not to feel like the luckiest guy who ever lived.

Of course when the sad day comes that I have to sell the boat, I will try to get what I can for it. But that's not why I bought it.

[Dora~Jean]

Hmmm, I wonder what a 16+ cemetery lot would cost? Heck, my boat is quite airtight, fiberglass doesn't rot all that much...maybe I'll get buried in it, I do love it that much! Another thought, sell the engines beforehand and help pay for the lots.

[Capn Jack]

46 years of boating and still going...PRICELESS !!!

Jack...

[localboy]

[rob bauerle]

I agree with Bill. For 10 years at work, I had a picture of a C dory on the wall by my desk. I would dream of c dorys. I retired this year and bought my c dory. Its a dream come true. Don't really care how much money I lose when I sell it. It is a part of my dream.

[alanc]

What price to put on "Joy".

Never has a passion I wasnt willing to spend a buck on.

[Peter_BDA]

2 things:

Prior to my C-Dory, with my other boats I kept meticulous records on how much I spent on the each boat. How depressing that was!! So, now I don't

Secondly, you CANNOT put a price on being out on the water and "getting away" from everything. Yes, boats can be a pain in the ass and be expensive but look at the enjoyment we get from working on them and using them. Otherwise we wouldn't keep buying one right??

Look on the bright side!

Peter

[hardee]

Never really added (or subtracted) it up. Being on the water beats being on some psychologist's couch or in some sherif's graybar hotel. Sanity at any price beats the alternative and the pleasure of being on the water, even big, rough, bad water is priceless in my mind. On paper maybe it's different, but as long as there is a way to afford a launch fee and boat gas, that is where I'll be. Like Rob, I've had a C-Dory picture to dream of foe about 5 years before finding SleepyC, and even though there have been other boats, this one and my Old Town canoe are my favorites and like was mentioned earlier, The longer you keep them, the lower the total cost (I guess)

Where else but on a boat can you go and play IN a sunrise?

Harvey
SleepyC

[duff]

in our family the boat always keep the family together even when the kids were teens they wanted to go out in the boat with mom and dad rather than go to the mall with their friends. now we still get together around the boat every summer. Priceless.

[Levitation]

And if you give up boats and save all that money, are they going to put it in your coffin?

[richnkay]

Exactly what that quote at the end of my messages is meant to express!