Yacht prices defy logic

[Simi 60]

Originally Posted by Polux

It is not alright to call fools or stupids to the ones who can and like to have new boats.

They are so much fools as the ones that don't buy them are poor that have just not the means to buy a new one.

I never mentioned boats of any kind.
You might want to try again.

[Island Time O25]

Originally Posted by Polux

I am a bit confused there: He said that your boat had a market value of over 350k, or he said that making today a boat like that would cost that money?

2nd. He said replacement value, meaning what it would cost to buy such a boat today new.

[ericoh88]

Originally Posted by coastalexplorer

I really do like that comment By SAILPOWER
(could you excuse a minor edit?) If one can afford it, buying new can be a very attractive option.

IF some people did not buy new boats and keep replacing them with bigger and better boats. There would be no end product to purchase for those who might not understand all the costs and expenses of buying used.

There is a great deal of truth to this, Unless there is the emotional commitment to restore a particular classic yacht?

There is very little point in dealing in the second hand market. The cost of refit of a cheaply acquired hull will keep adding up until the day you launch it. At which point you will realize that you could have bought a new boat on a bank loan and been sailing all those months and years: For about the same amount of money.

The reasons why this happens are numerous. The most obvious one is that depending on the size of the vessel it takes between 20 and 50 skilled workers about three months to a year. To build a new boat in a well equipped workshop. As a manufacturing company they buy all supplies and fittings at wholesale prices. IF you take this on your self. unless it is in your own back yard. The cost of marina fees will add up to a very significant amount. and your travel expenses between your residence and the marina will add up to about what all those employees paid for driving to work and home again during the original build. I nice marine store might give you 10% off of retail? this does not cover the purchase taxes in most areas. If you do not have enough 'spare time' to work fast enough, the shelf life on resins, sealants, paints, and varnishes will expire and result in the cost of replacement, unless you are an obsessed accountant you will quickly loose track of how much you spent on, bolts, screws, & nails, when you are all done with your boat building hobby, The market value of your creation will never repay what you spent; Let alone pay you for your time. But there will always be those who feel sure that they can win at this game.
For those who buy something used that is still in some sort of usable sailing condition, If they are not particularly fussy about the deficiencies and tolerate them. The requirement for repairs and upgrades will happen. So the situation is essentially the same. They are just on the optional payment plan. Most likely in denial of the true costs.

So I do not believe yacht prices defy logic, because logically its an expensive game, If you have to ask the price you probably can not afford it.

Thanks coastalexplorer. Very insightful to my relief as I struggle to explain why there are so many extras and spares that I have bought just to do a simple job.

Or it took me 2 years to complete the installation of a genset and wiring which was supposed to be a simple job.

Eric