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Old 13-02-2011, 18:11   #31
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save your money .. buy a boat outright .. have fun
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Old 13-02-2011, 18:29   #32
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What?

Not loose money on a boat? That is an alien concept. It's like marriage, very few ever make money on it. The nature of being smart with boats IMHO consists in keeping it in good condition and safely enjoying it. Mark J seems the very soul of safe operation and even being conservative he broke a head stay.

Financially it's as silly as a race car or plane...not practical just really cool.

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Old 13-02-2011, 19:17   #33
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I dont understand why you need to spend so much on the boat in the first place. Im not advocating buying a rust bucket and slumming it. Some seam to do this and be happy but if you so concerned about losing 100k (out of 400k) why not buy a boat worth 100k and put 300 in the bank, that way you will get some of your lost 100k back (unless you sink it without insurance) plus you will have a good amount of cash to come home to without the stress and hassle of hoping your boat sells for 300k.

just a thought, but it did seam logical.

P.S we spent 15k on our boat then 15k on a full refit and we are planning to sail for 5 years minimum on that rebuild. lost of money does not mean you get what you paid for.


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I like your logic.
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Old 13-02-2011, 19:18   #34
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Seems there are some lovely boats in that price range if you are happy to go 5-7 years old.
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Old 13-02-2011, 19:25   #35
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Seems there are some lovely boats in that price range if you are happy to go 5-7 years old.
Even a 2008 for $468K US in SA.
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Old 13-02-2011, 19:41   #36
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Whoa.....wait a minute

If you lost $100k on your $400k catamaran in 2 years, then you bought your boat WRONG (meaning you overpaid). This is now a buyers market as everyone knows but in 2-3 yrs I doubt you will lose 100k if you buy in right, PM me!!!
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Old 13-02-2011, 20:12   #37
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Even a 2008 for $468K US in SA.
My mistake, I thought we were discussing an upper limit of $400K including tax.
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Old 13-02-2011, 20:51   #38
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My mistake, I thought we were discussing an upper limit of $400K including tax.
True. I assumed we wouldn't have to pay the list price. Plus, I figured the OP could always pay a bit more.
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Old 13-02-2011, 21:18   #39
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Time > Money; you can always make more money, you only have the time you are allotted.
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Old 13-02-2011, 23:18   #40
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You can play around with numbers all day..... doesn't mean a damn thing.
People who own boats and sail do it because they want to own boats and sail.
There isn't commercial justification for it, and there doesn't need to be.

It's most likely the reason I don't actually know ANY accountants who sail, and I'm not talking about the retired ones here on CF. They probably weren't very good accountants

I've spent my whole life weighing up everything in financial terms, and there is a time for that.
But the time comes when you've got to let that obsession go.

It makes the most financial sense to keep the house as an investment, but I don't care. I'm selling it. It means a better, more comfortable boat, a happier wife, and a happier me
Other investments will just have to be adequate, and they will be... just.

What I have found over the years... you make your money in real estate when you buy, not when you sell.
And getting the best out of a boat deal is the same. Do your research, and buy well.
Then forget about it and start counting your real wealth in experiences, dreams and memories.

Do the tombstone test. What do you want yours to say? ..... "He was a smart accountant" or "He lived a full and fascinating life".

Your choice.
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Old 14-02-2011, 06:28   #41
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It's most likely the reason I don't actually know ANY accountants who sail, and I'm not talking about the retired ones here on CF. They probably weren't very good accountants
Glad you qualified that statement VV; otherwise, my feeling were going to be hurt. I like to think it was because I was a good accountant that I'm sailing.
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Old 14-02-2011, 07:01   #42
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Capcook, you have outlined the very best reason for not buying any new boat for your type of use. If you plan to purchase a boat to go cruising for 2 years and then sell it when done a new boat is your worst option. For your needs you should be looking for a used boat at least 4 years old, in good shape that you can buy below market value. This will require a good deal of time and research but they are out there. Assuming you can find a boat that fits your needs, then buy it 30% - 40% below the current market value and sell it in 2 years when the market has rebounded off the bottom your loss should be much smaller. Still a lot of variables but you will not take the massive hit of buying new, even at invoice. No one is buying new boats right now, the market has died, but there are still lots of oportunities to purchase a distress sale. Probably your best bet.
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Old 14-02-2011, 14:27   #43
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Glad you qualified that statement VV; otherwise, my feeling were going to be hurt. I like to think it was because I was a good accountant that I'm sailing.
Doodles.... that's funny. As I was typing my little shot across accountants' bows, I knew there was an ex accountant here on CF, and one I hold some respect for... In fact I took a side bet with myself that I'd flush him out

But your statement still leaves HUGE question marks about your qualifications as an accountant. I mean there it is in black and white... you've got feelings??!
That's a negative that really should have been in red ink.

Sorry buddy, you may have been a good accountant, but your rebirth has been complete and I don't see any vestige of it left. I mean you're even showing signs of a sense of humour...
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Old 14-02-2011, 15:50   #44
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Doodles.... that's funny. As I was typing my little shot across accountants' bows, I knew there was an ex accountant here on CF, and one I hold some respect for... In fact I took a side bet with myself that I'd flush him out

But your statement still leaves HUGE question marks about your qualifications as an accountant. I mean there it is in black and white... you've got feelings??!
That's a negative that really should have been in red ink.

Sorry buddy, you may have been a good accountant, but your rebirth has been complete and I don't see any vestige of it left. I mean you're even showing signs of a sense of humour...
Thanks. Accountants really do need a better PR firm to spruce up the image. They could start with sponsoring a campaign for me to sail around the world. Wouldn't that make a great story in some accountanting magazine? I can see it now .... not! Oh well, back to reality.
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