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maxingout · 23-04-2019, 05:57

When we were in the boatyard in Florida , we were surrounded by million dollar catamarans.

Wow!

Who can afford to purchase a million dollar cat? And who can afford the insurance on them?

One couple new to sailing had to have 50 hours of instruction with a captain on board in order to qualify for insurance. It is mind boggling to think about sailing a million dollar cat through Bahamian reefs and shoals without prior sailing experience. Imagine their insurance bill.

I watched million dollar cats being worked on for $100 per hour day after day.

I think the law of diminishing returns has finally arrived.

I think we have arrived at the point that less is more in the sailing world.

I started this thread because I saw a 42 foot cat this morning that cost more than $750,000 after delivery and taxes.

Really.

My advice is go get a $200k boat, and put $550k in the bank. You will be able to cruise forever!

Less is more.

Chotu · 23-04-2019, 06:05

We all have to start somewhere. Ha ha ha.

Seriously though, it's all relative. Your $200k cat is probably out of reach for some just as the $1mil cat is out of reach for you.

They look at your cat and think the same thing, using different numbers.

maxingout · 23-04-2019, 06:27

Quote:

Originally Posted by Chotu

We all have to start somewhere. Ha ha ha.

Seriously though, it's all relative. Your $200k cat is probably out of reach for some just as the $1mil cat is out of reach for you.

They look at your cat and think the same thing, using different numbers.

I wish my cat was worth $200k.

I have lost all sense of what things are “worth”.

When I amortize the cost of our refit on Exit Only, it takes the sting out a little bit if I cruise for five years.

And if I cruise for ten years, then I don’t care about the cost of the refit. When I am eighty years old, I may not care about anything at all.

admiralslater · 23-04-2019, 08:22

First rule of sailing , not port vs starboard or upwind boat is burdened or even overtaking boat shall stay clear . the first rule of sailing is “there is always someone with a bigger boat “

Discovery 15797 · 23-04-2019, 08:33

Boat envy is a waste of time...enjoy that which you have.

Several years ago some folks brought a fancy new monohull into the marina at Elliott Bay. It was 42 feet, classic lines, lots of fancy teak work in the cockpit, etc. As the rigger was finishing up I asked him what was the make and he said they call it a 862. I said, I never heard of such a boat. To which he replied...for 1.2 million USD you can sail 8 in the cockpit, entertain 6 people below, and it had one berth to sleep 2.

That boat was on the dock for 3 years. During that time, I saw it go out twice. Granted I don't sit at dock long, but when I am there....I am there daily.

My boat isn't a pretty dock queen or entertainment barge....it is a sailing vessel that gets a lot of use. She isn't as pretty as some...but she has more water under her than most of those fancy pretty boats.

Davy J · 23-04-2019, 11:57

You certainly have never been to the Fort Lauderdale International Boat Show. You really need to go at least once..........

https://www.flibs.com/en/boats.html

Your $750,000.00 catamaran will be a mere dinghy on some of the boats there. And, there are a lot there......

Palarran · 23-04-2019, 13:04

I don't know for sure, but when you start complaining about $100 / hour labor bills and $1,000,000 boats on the same day, you could be in danger of becoming an old geeser.

Your point is understood, but there are a lot of really wealthy people out there and for them, those numbers mean nothing. We are thrifty with our boat bucks, but it simply isn't a cheap passtime. Painfully expensive at times in fact, but that's today's reality.

44'cruisingcat · 23-04-2019, 13:16

Not so long ago we used to wonder how people could afford to buy (or insure) million dollar houses. Now in cities like Sydney a million dollars is about the median house price.

**Tellie** · 23-04-2019, 14:42

I always considered boats kinda like Willie Sutton considered banks.

ol1970 · 23-04-2019, 15:31

I think half of the people with million dollar boats have nearly their entire net worth tied up in a depreciating asset, 30% can afford it but it’s tight, and 20% of the people the boat is paid for in cash and they have another $5-$10 million in the bank to comfortably fund they lifestyle. Best part is they are pretty much universally as much fun to hang out with at anchor, and it’s hard to tell who is who.

jdazey · 23-04-2019, 17:57

Quote:

Originally Posted by Tellie

I always considered boats kinda like Willie Sutton considered banks.

You remember Willie Sutton??? Dang, you must be as old as I am.

And I got no problem with million dollar yachts. English Hbr is full of them starting at 10 million. Nice to look at for sure.

Cheers,

Zzmeyer · 23-04-2019, 18:12

So here in San Diego I know both the Beneteau and Jeanneau dealers very well. The Jeanneau dealer has sold 3 Jeanneau 64. All were first time boaters. One bought it to learn on while his bigger boat was being built. The Beneteau dealer has sold 4 Beneteau 62, with only one a prior sailboat owner (an Oceanis 55). I guess people are just learning on bigger boats now days.

NPCampbell · 23-04-2019, 20:33

Quote:

Originally Posted by maxingout

When we were in the boatyard in Florida , we were surrounded by million dollar catamarans.

Wow!

Who can afford to purchase a million dollar cat? And who can afford the insurance on them?

Who can't afford a million dollar cat?

Fun fact. A full time burger flipper who starts their career in 1972 making minimum wage would be a millionaire ($1.3M) today if they invested 15% of their salary in the S&P 500 every year of their career.

This assumes:
A 40 hour work week starting from age 18
A starting wage of $2 per hour (minimum wage in 1974).
A yearly salary increase of 5%
Finishing their career as a burger flipping manager at $42k per year
Investing using pre-tax dollars in a tax deferred account
Using the actual of CAGR of the S&P 500 since 1972, 10.3%.

Kenomac · 23-04-2019, 22:49

Quote:

Originally Posted by maxingout

When we were in the boatyard in Florida , we were surrounded by million dollar catamarans.

Wow!

Who can afford to purchase a million dollar cat? And who can afford the insurance on them?

One couple new to sailing had to have 50 hours of instruction with a captain on board in order to qualify for insurance. It is mind boggling to think about sailing a million dollar cat through Bahamian reefs and shoals without prior sailing experience. Imagine their insurance bill.

I watched million dollar cats being worked on for $100 per hour day after day.

I think the law of diminishing returns has finally arrived.

I think we have arrived at the point that less is more in the sailing world.

I started this thread because I saw a 42 foot cat this morning that cost more than $750,000 after delivery and taxes.

Really.

My advice is go get a $200k boat, and put $550k in the bank. You will be able to cruise forever!

Less is more.

I disagree. If one works hard, why not enjoy it?

If a $750k cat bothers you... you might want to avoid the Med. I’ve seen 50ft power boats loaded onto yachts to be used as water toys and tenders.