Originally Posted by poiu
I can't understand why you think this. I think the opposite is true. They don't make Moody 54s any more, but if you do a comparison with an Oyster
. You could have bought a new 54, 7 years ago, (the time you bought your boat) for about £900,000. It would be worth £450,000 now. If you had bought a used one 7 years ago it would have cost £450,000 and be worth £350,000 now. Maybe you would have spent £60,000 on refit
items - sails
mainly in the interim, so your cost would have been £450k new vs £160k used. Then factor in a massive difference in lost
interest and higher insurance
and you are looking at maybe £600k vs £190k. £410k is a high price for a virgin and I bet your cost savings were better still.
Of course, if you are someone with plenty of cash, maybe having just sold a business or got a pension payout and you have nothing better to do with it then a new one does make more sense. It is the existence of such people which allows used boat
owners to get the bargains they enjoy.
Oysters are a special case -- they are sold at a premium to comparable boats when new and then depreciate fast, like cars. I agree that used Oysters are a bargain and new ones are not. But it is different with other boats. My boat cost 20% less than an Oyster 53 when new, but is now worth the same, despite the "orphan" status of English
I think that this is because of the Oyster clientele -- who are overwhelmingly new boat buyers, which leaves a plentiful supply of used ones. And so there are even some great bargains among older Oysters. I know someone who bought an Oyster 53 with knackered deck
that no one would touch (I looked at the same boat myself when I was shopping!), for a song. Did the deck
himself and ended up with a good Oyster for probably less money
than he would have paid for a Beneteau
. Other than the deck, the boat was in decent shape. Smart guy.
I (on the other hand!
) paid very close to the new price for my then 8 year old Moody. Maybe 20% - 25% less if you consider the real equipped sailaway price. The boat was very lightly used (160 generator
hours; 830 engine
hours) and in really beautiful condition, so I thought I was getting a virtually new boat and that the price was ok. But in fact many of the systems have time-limited rather than hours-limited useful lives, and I had replaced everything within a few years. In the end, it was not really cheaper than buying
a new one would have been (if it had been possible at the time, which it was not), and it was a lot more trouble.
A friend of mine who is a helicopter pilot said that a helicopter is really a collection of different parts
flying in formation. They are all replaced over and ever again, so that soon little is left of the original ship. Complex cruising boats are much the same. Big advantage of a new boat is that you are starting with everything at zero hours.
My next boat I'm going to have custom built, and out of metal, not plastic. I love my M54, but it is not what I need for my kind of cruising in very many respects*. Actually there's not any series produced boat which really suits me. This is not economically efficient and will be possible only if -- yes, I sell a business. But it will zero hours on everything and exactly what I want.
* What the M54 doesn't have, which I need:
1. Pilothouse with indoor watchstanding position
2. Watertight compartments
3. Much more deck storage
, including sail storage
4. Truly walk-in engine
room with workshop
5. Much more technical space and rational long-term storage space.
storage suitable for long rough passages
7. Proper foredeck with samson
post, heavy duty horizontal windlass
, fairleads, etc.
8. Central storage of anchor
the list goes on, but that will give a flavor.