Originally Posted by travellerw
I have another question... What is "List" price? Is this the price that the owner has the boat currently listed at? or is this the price the boat cost when new!
List price is the factory list price when the boat was new.
And yes, the older the boat gets, the less precise the formula, because the condition of the boats will vary considerably.
The formula will only give you a ballpark figure to determine a value from a commercial
standpoint. Apart from that, you will see boats, that nobody wants, so they are worthless and boats that have a market, and those will probably be more expensive. And then you have boat owners who are willing to wait for a buyer endlessly and those, who want to sell now and move on.
As mentioned before, it's a buyers market.
I give you an example for my calculation, looking at FP Belize
The factory price in 2001 was around 320'000 EUR, so for a 2001 Belize
the formula says 320000*1.3*0.8*0.95^13=170'000 EUR. I adjusted the initial write off to 20%, I admit, because the cat market seems pretty solid. There is of course no absolute thruth to such a formula, life is more complicated.
Looking at Yachtworld for Belize 2000-2002 the price range is currently anything between 130'000 and 250'000.
From here on it's looking at the boats and judging the condition and maintenance
backup and wether it as the necessary gear
, etc. etc. Maybe the lowest price boat indicates, that you have to invest another 100K in refit
, or the seller needs cash, or the boat is in a place where nobody wants to go, or....
But to be honest, if I can purchase
an FP Orana
2008 for 260'000 EUR I would not consider to buy a Belize 2002 for 250'000.