Older boat

[VirtualVagabond]

Originally Posted by Nomad57

Mike,
Excellent advice. The admiral insists on larger, as a dodger/bimini is a must. We feel that if we are not somewhat comfortable, the whole exercise is doomed to failure. After our charter trip, someone suggested that "If you want to try sailing again, do it in a boat over 30 feet."

I have to admit, though, that the 4-year-old boat in 'nearly new' condition, at about half the cost of a new one (with in-mast furling and an electric winch) sure was tempting.

Nomad

Nomad,
We've been going through similar thinking.

My partner is fairly new to boats whereas I've messed about with them for decades.
We're in the process of selling up and going sailing for as long as we're having fun, and she's excited about it.
I figured it's in both our interests for it to be a good experience for her. That way she learns the lifestyle in reasonable comfort, and I have a far better chance of enjoying it for a long period.
We're going for an older, heavy displacement fibreglass boat with the kind of gear that we'd expect to have for a comfortable life on shore.
Plenty space, plenty water (watermaker), reasonable galley, head/shower etc. even a washer/dryer.
Neither of us mind rolling up our sleeves and getting maintenance done, even brightwork.
So, 45-50ft with a guest cabin for family and friends sometimes is what we'll need.
Fulltime liveaboards seem to spend 90% of their time on the hook, so I figure if it's a good home, and sails half reasonably, we'll be happy with it most of the time.

[Nomad57]

One of the things I forgot to mention:

One of the reasons for the discussion of newer boats was that they are supposed to be easier to sail, with the in-mast furling, newer garhauer blocks, etc.

This is an issue, as I'm not as good as I once was, (although I am as good once, as I ever was.)

Nomad

[nautical62]

I certainly don't think you can count on getting your money back with a barely used boat. I certainly see many 5 year old boats on the market for barely more than 50% of their original purchase price.

An older boat may work out better, but that has it's risks too, mostly in the form of maintenance and upgrades. Many older boats for sale are simply not in cruise ready condition.

For example, I bought a Hunter 30 with the idea of using it for 2, 3-month cruises over 2 years and then spinning it.

Some through hulls, bottom paint and new transmission ran 5K. Probably another 5K on misc. things like a fridge, autopilot, anchor chain, head upgrades, etc. Then there was dockage and insurance for the 6 months prior to my first cruise and if I do decide to sell it, there will be ongoing insurance and dockage while it's on the market. It certainly may sell for 5K less than I bought it for and then of course, if I sell it through a broker, there's his 10% comission.

Not including the costs during and between actual cruises, a boat I purchased for 26K may end up costing me 20K in maintenance, expenses, depreciation and expenses associated with selling it.

[Nomad57]

Originally Posted by nautical62

I certainly don't think you can count on getting your money back with a barely used boat. I certainly see many 5 year old boats on the market for barely more than 50% of their original purchase price.

That's just it. I see these 5 year old boats too, at about 50%, which makes them look like an attractive buy. 50% for something five years old that is likely to last 20 more would be a relative bargain, IF I knew with some degree of certainty that I was going to keep the boat.

While thinking about your post, I did what I ought to have done in the first place. I went onto Yachtworld, and looked at 5 year old boats as in the example given me by the dealer/broker, then looked at 10 year old versions of the same boat, to get an idea what that boat would be worth at that time. The comparison reveals the story:

Depreciation of an additional $25,000 over those five years
unrecoverable purchase tax 13,650
Brokerage to sell it 8,000
tax on the brokerage 1,040

Total $47,690 or $9538 per year of ownership.

One thing that could alter the above scenario is if the boat does not depreciate further because of inflation or a change in the Canada/U.S. exchange rate (as happened in the 1970s/'80s).

The older boat does start to look better.

Originally Posted by nautical62

An older boat may work out better, but that has it's risks too, mostly in the form of maintenance and upgrades. Many older boats for sale are simply not in cruise ready condition.

I'm beginning to see that, and I believe you're right, as it makes perfect sense. Although, the $10K you invested after purchase is a far sight better than the above example.

Originally Posted by nautical62

Not including the costs during and between actual cruises, a boat I purchased for 26K may end up costing me 20K in maintenance, expenses, depreciation and expenses associated with selling it.

Contrasted against my example.

Thanks for your input.

Regards,

Nomad