Age vs price: What's the best value for a used catamaran?

[RiskyScheme]

If you were in the market for a used catamaran to live aboard, what's the best balance between age/depreciation and value?

Seems like the ideal would be someone with money who bought the boat new and outfitted it the way you would like more or less, then barely used it while it depreciated for 3 or more years. There are probably some older boats - 10 -15 years - that are even better value but may come with a lot of unexpected issues.

[2Hulls]

Yes, pretty much like any other durable good. It would be wise to become familiar with value holding characteristics of the major production brands. Some hold their value better than others which is an indication of perceived quality and, hence, a crude proxy for value.

Dave

[nimblemotors]

At some point they get old enough there is no depreciation left, and it is just a matter of condition. And of course, the lower the purchase price, the less risk.

So I'd go buy one for $25,000, that is my limit.

[monte]

I'd say new is the best value. A ten year old lagoon 380 might be 50K cheaper than a new one, but you could easily spend 50K bringing it up to the same condition with new electronics, rigging, sails, electronics, engines maybe, and other equipment. Of course best value doesn't mean cheapest. That said, if on a budget a 10 or 15 yr old one will definitely be cheaper initially and basically get you to the same anchorage at about the same time.

[Rohan]

Originally Posted by monte

I'd say new is the best value. A ten year old lagoon 380 might be 50K cheaper than a new one, but you could easily spend 50K bringing it up to the same condition with new electronics, rigging, sails, electronics, engines maybe, and other equipment.

Just glancing at Yachtworld, 10 year old Lagoon 380s are closer to 100K cheaper than new ones, whether it's in dollars or Euros.

[socaldmax]

Originally Posted by Rohan

Just glancing at Yachtworld, 10 year old Lagoon 380s are closer to 100K cheaper than new ones, whether it's in dollars or Euros.

In addition, they probably come with upgraded electronics, bigger batteries, more sails, better anchor, little upgrades that didn't come from the factory. Not to mention, all of the new delivery problems have been dealt with.

[Sailorman Ed]

In my mind, a 10 year old boat is still new!! Current boat is 26 years old, prior boat is still going at 41 years old. That one stopped depreciating years ago.

but may come with a lot of unexpected issues.

- that is why you either hire a surveyor or you know what you are looking at.

but you could easily spend 50K bringing it up to the same condition with new electronics, rigging, sails, electronics, engines maybe, and other equipment

all depends on what you can be comfortable with....I do not need fancy and flash to enjoy life.

[ZULU40]

Originally Posted by nimblemotors

At some point they get old enough there is no depreciation left, and it is just a matter of condition. And of course, the lower the purchase price, the less risk.

So I'd go buy one for $25,000, that is my limit.

I think thats fair
You would be unlikely to find a kit boat with patterns for all the stuff in it on board. At those prices look forward to replacing, refinishing/repainting almost everything aboard.

But after that its a boat in new condition, with all the gear you want and organised the way you like it.

Thats not to say it is cheap to do, its a matter of buying on condition and doing as much you can yourself.

[Palarran]

Originally Posted by RiskyScheme

If you were in the market for a used catamaran to live aboard, what's the best balance between age/depreciation and value?

Seems like the ideal would be someone with money who bought the boat new and outfitted it the way you would like more or less, then barely used it while it depreciated for 3 or more years. There are probably some older boats - 10 -15 years - that are even better value but may come with a lot of unexpected issues.

The PO of Palarran bought the boat new and hired a full time captain to live on it and wait for him to visit, which he did. About 9 times in 9 years. His wife only went twice, his son once, and the daughter who the boat was named for, none. It was a shame but had two other large sport fishers and Palarran didn't make the cut.

So the boat was near brand new but almost never used, which made it bad. Many of the motors were seized up, the engines sat and rusted to crap, etc. I had to spend a lot of boat bucks to get her back into very good shape mechanically. The interior was perfect. But why I right this is that for the 9 times the PO used it, it cost him about 60% of the boats value.

So I think there are incredible deals out there. The 58' Catana Aurora that just sold was at least $150k below market (IMO). If I was to look again, it would be at 7 to 10 year old production boats. But I'd give a million dollars and my right nut for a Privilege Series 5

[valhalla360]

- The used boat prices typically come with all sorts of goodies added.
- New doesn't mean without problem. We've known 3 new boat purchasers who lost at least 3 months out of the first year with warranty issues. There is a thread going on now where a guy has a brand new boat with structual issues. Get a survey on any boat and adjust the price accordingly.

I would say you are out around 5-10yrs for the best value.
- Newer and you are still in the fast depretiation stage.
- Older and the functional value of the boat takes over from depretiation.
- Unless you buy a complete piece of junk, keeping the boat for 25-30yrs should be no issue.

[rabbi]

Originally Posted by valhalla360

I would say you are out around 5-10yrs for the best value.
- Newer and you are still in the fast depretiation stage.
- Older and the functional value of the boat takes over from depretiation.
- Unless you buy a complete piece of junk, keeping the boat for 25-30yrs should be no issue.

I'd buy either new (with a nice discount on list price and a boat show deal) or go for some 8-10 years old. That's the point where most cats that I look at seem to be close to the deprecation bottom.

[RiskyScheme]

Originally Posted by monte

I'd say new is the best value. A ten year old lagoon 380 might be 50K cheaper than a new one, but you could easily spend 50K bringing it up to the same condition with new electronics, rigging, sails, electronics, engines maybe, and other equipment. Of course best value doesn't mean cheapest. That said, if on a budget a 10 or 15 yr old one will definitely be cheaper initially and basically get you to the same anchorage at about the same time.

I have read on CF that new boats often take time, effort and money to work through any system integration issues and that you can expect a new boat to depreciate by more than 10% in the first two years, which would pay for some nice upgrades like a water maker and acuba compressor.

[RiskyScheme]

Originally Posted by socaldmax

In addition, they probably come with upgraded electronics, bigger batteries, more sails, better anchor, little upgrades that didn't come from the factory. Not to mention, all of the new delivery problems have been dealt with.

Thanks - 5 - 10 seems like a good range but sails and rigging might need replacement toward the latter end.

[Cheechako]

My experience is after about 7 years or so... condition matters more than age.
I've had 7 YO boats with water filled rudder, bad fuel tank, and of course pumps etc.
At 10 years... today's thinking is you need new standing rigging, possibly sails.
A 10 YO boat seems "new" to me too. But experience hasn't showed me that.

[Stu Jackson]

While not a catamaran, we bought our then 12 year old boat in 1998 for half the price of a new at that time boat of the same. My boat is 29 years old and still going strong, those new boats at that time are now all of 17 years old. And most are still going strong.

By that time, it's condition, condition, condition, which is dictated by the POs ability, interest and talent in attention to maintenance.