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Old 29-09-2012, 23:25   #16
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Location: Vancouver, BC
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Re: Buying and re-selling a boat after 2 years of use in the Caribbean

Originally Posted by Cheechako View Post
i dont know..... a well bought, and well maintained boat purchased 2 years ago should be worth the same now. whether an Alberg 35 built in the 70's , pearson 365, or passport 40 is 2 years older or not is not as important as it's condition.
I agree that condition rather than age straight up is more important but I think there is a big issue with folks believeing their boat is in much better condition than it actually is. I mean at at what point then would you start factoring in depreciation? All things being equal maintenance wise, I think 2 years more wear on the sails and rigging, 2 further years of hull exposure to the salt and sun, another 500-1000 nm on the engine, 730 more days of feet marking the sole and bums squishing the setees, etc... should result in a lower price. Now if you added say refrigeration and replaced some of the cushions and electronics then you could make the argument that those improvements offset somewhat the depreciation in other areas. I know location also affects prices.

Yes, your boat is worth exactly what someone else will pay for it. A broker told us recently that on average they have owners upgrade to the tune of $4k before their brokerage will even put a boat on the market and they often have a difficult time getting most sellers to understand their boat is not worth as much as they've convinced themselves it is.

Just our experience as buyers over the past year FWIW.

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Old 30-09-2012, 06:47   #17
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Re: Buying and re-selling a boat after 2 years of use in the Caribbean

Price is determined by what the market will support (whether we're talking about boats or mangos). Look at BucNet for valuations based upon actual sales data and given for a range of boat conditions.

A 2 year old boat may well be in better condition than it was when purchased.

Boats can and do hold their value quite well.

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Old 30-09-2012, 08:13   #18
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Re: Buying and re-selling a boat after 2 years of use in the Caribbean

About buying in Florida for a Caribbean cruise:

Not a bad idea, but you should also consider taking a look in the islands, too. For some, the USVI or BVI are the "graveyard of broken dreams" with lots of boats left for resale by "cruisers" who got that far and flew home. Since it's expensive to keep a boat, there are a fair number that can be bought at "stress relief" prices with some careful shopping.

Did it myself as recently as a year ago. Got a fine boat at an outstanding price. Not a project boat, just needed some tidying and a bit of outdated equipment to replace with up-to-date gear. Now we're almost up to "finest kind" level.

I had good experience with BVI Yacht Sales, Nanny Cay, Tortola. Can't speak about other brokers in the islands, but you could do well with these guys.

An Example:!-2431227/Road-Town/British-Virgin-Islands

Fair winds and following seas.

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Old 30-09-2012, 11:55   #19
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Re: Buying and re-selling a boat after 2 years of use in the Caribbean

Buy a well known model and you will have an easier time selling it. For instance Catalina is a very well known brand, not my personal favorite but the resale price of them is well established and they are actually more sought after than say an Irwin or a Lancer. Look for something that has had some recent big ticket upgrades (new engine, rigging, electronics, or sails). Consider doing a repower yourself. A new engine would increase the resale and give you peace of mind while you own the boat. The best deals happen by being in the right place at the right time. But you don't need a boat to hone your sailing skills, sign up as race crew, put your name on crew lists, sail dinghy's and beachcats, you can have more fun on other people's boats because you don't have to pay everytime something breaks, you don't have to pay for insurance, marinas, haulouts, upgrades, the list just goes on and on and on.
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Old 01-10-2012, 13:11   #20
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Re: Buying and re-selling a boat after 2 years of use in the Caribbean

The two biggest mistakes we have seen (and made) were:

1. Do not pay fullo market price for a "cruise ready" boat. No such thing. You will have to add things and replace things. So pay below market and fix it up so it is cruise ready for YOU. You will get to know the boat and all its systems as an added bonus.

2. Buy right so you can sell right. Moorage and commissions will eat a huge hole in your bottom line. When you get towards the end of your cruise put the word out withing the cruising community (GeorgeTown, Exuma for example). Discount your asking price by 10% for a private buyer and get out ASAP.

We did this on a more expensive boat but the principles would be the same. We bought a Stevens 47 for about 60,000 under market, put $60,000 into it to make it truly cruise ready, cruised for 2 years in the Caribbean and sold it privately for 90% of what we had into it.

Best of luck - you can do it!
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Old 05-10-2012, 08:44   #21
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Re: Buying and re-selling a boat after 2 years of use in the Caribbean

I think this is a great discussion. I too have plans one day to cruise the BVI's for 2 years and know I will be out after that time. No dreams of retiring for 10-15 years on a sailboat. With your approach you may want to look for a more expensive boat. Don't let the purchase price scare you - it's just a 2 year "loan" and you'll only loose 20-25%.

I have made a point lately to "buy for the end sale". Meaning, buy something that you'll be sell easily and for little loss. Don't fall in love with a one-off, custom, bla bla. You want to buy a "Ford Taurus" since tons of potential buyers will be familiar with the model and it's features. "Buy for the end sale" and you'll be fine.

Sadly - like many threads started here, the OP has one and only one post so we may just be preaching to the choir....or the crickets.

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buying, Caribbean

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