New boat vs Used boat

[Dockhead]

Originally Posted by boatpoker

I get where Dockhead is coming from but I don't completely agree. I can point out around twenty 2yr. old boats with less than 50hrs' on them in my yacht club alone. Massive depreciation and the owners have already wasted all the time to get the stuff fixed that the factory got wrong. Two year old boats virtually unused abound in the Great Lakes.
where 50-60hrs per year is average usage among those who actually use their boats at all.

3-4 times per year I am asked to survey new vessels prior to acceptance. In my experience this is a very wise decision.

I don't think you're contradicting me at all. I agree with what you say.

Big difference between a lightly used 2 year old boat and a lightly used 8 year old boat. Especially a lightly used 2 year boat from fresh water. If you can find a lightly used and well equipped 2 year old boat whose pricing reflects "massive depreciation" -- buy it.

For boats of whatever age -- it's a question of the real value of the remaining life of the different systems vs. price. At the right price, anything is good. What I was warning against was assuming that a really shiny 8 year old boat which surveys well is nearly as good as a new boat and worth nearly as much. It ain't.

[hoppy]

When I bought my boat it was 9 years old and in good condition with low engine hours for it's age (1500).

I paid £65k and I guess a new 40 ft Jeanneau would have cost another £100k more.

Over the years I bought new sails, replaced the running & standing rigging, bought new MFD's, added radar & AIS. The hull was stripped back to the gelcoat and resealed and the thruhulls replaced.

My boat is now specced the way it would be if I bought new and ticked the option boxes and many of the systems on my boat will last just as long as they would on a new boat.

Sure I'm missing out on some nice new design features and style, but it'c cost me a fraction of what and new boat would.

The only real negative of my 15 year old boat is the teak deck.

My suggestion for the OP is that unless you desperately want the new style/design, buy a good used boat but budget and plan for an upgrade before your world cruise.

[El Pinguino]

Originally Posted by hoppy

......My boat is now specced the way it would be if I bought new and ticked the option boxes and many of the systems on my boat will last just as long as they would on a new boat.......

And if you had bought new just about everything beyond the wheel would have been a very expensive option..... which would have upped the cost by a not inconsiderable amount... esp if considering a long sea voyage...

[Snore]

Great conversation but one HUGE factor is missing.

When buying a used boat you buy the repairs/mods done by the previous owners AND the original build quality. That is why an old 41' Hinckley Bermuda Yawl still costs $60-150,000 depending on condition, an old 41' Tartan TOCK $40-60,000 and an 90's 41 production boat less.

Yes the newer boats handle better and move in light air. But that is done at the expense of weight. As others said this tends to result in hull flex. At the price point of the OP, the materials used to finish the cabin will also vary new vs.old.

Just another perspective

[danielamartindm]

IMHO, even if you have the funds to buy a new boat and all of the options you want, fight the urge and buy a well-equipped recent-year used boat with MOST of the options that you want. While it's true that new boat warranties will cover (if the manufacturer is honorable) the inevitable failures of that first year or two (these are complex machines), do you really want to spend your precious time chasing that rabbit? Let the guy who purchased the boat new do that, and benefit from whatever loving touches he added to his NEW boat that he can't hope to recoup from the buyer of his USED boat.

[danielamartindm]

IMHO, even if you have the funds to buy a new boat and all of the options you want, fight the urge and buy a well-equipped RECENT-year model of the same boat with MOST of the options that you want. While it's true that new boat warranties will cover (IF the manufacturer is honorable) the inevitable failures of that first year, do you really want to spend a year of your time chasing that rabbit? Let the guy who purchased the boat new do that, and benefit from whatever loving touches he added to his NEW boat that he can't hope to recoup from the buyer of his USED boat.

[hoppy]

Originally Posted by El Pinguino

And if you had bought new just about everything beyond the wheel would have been a very expensive option..... which would have upped the cost by a not inconsiderable amount... esp if considering a long sea voyage...

A few times I've gone on to new boat sites and gone through the "build your boat" steps specifying pretty basic options. As a minimum you seem to add 30% to the purchase price just to get a basic day sailer and closer to 50% to fully option your boat with out a few essentials for long distance cruising.

If you buy a boat for the list price you can't even use it even as a marina queen.

[hoppy]

Originally Posted by richard45cdo

Budget is up to £275,000 all in. And we are looking for something around the 45ft range. Any advice and tips would be highly appreciate.

To buy a new boat and equip it for a circumnavigation, the base list price probably needs to be at a max £150,000. You would probably spend £75k on dealer options and then £50k on the stuff needed for a long cruise. That's if you can find a 45ft boat for that price. If you go smaller, you can perhaps spend a bit more to buy the basic yacht as some options will be cheaper.

[Kenomac]

Originally Posted by danielamartindm

IMHO, even if you have the funds to buy a new boat and all of the options you want, fight the urge and buy a well-equipped RECENT-year model of the same boat with MOST of the options that you want. While it's true that new boat warranties will cover (IF the manufacturer is honorable) the inevitable failures of that first year, do you really want to spend a year of your time chasing that rabbit? Let the guy who purchased the boat new do that, and benefit from whatever loving touches he added to his NEW boat that he can't hope to recoup from the buyer of his USED boat.

I'm going take this comment one step further and say fight the urge to do a circumnavigation, and instead pick a region and explore it fully. Most people we know who set out to circle the globe on a boat quit withn the first year having never seen much more than open water and shipyards.

[SV Bacchus]

Originally Posted by Kenomac

I'm going take this comment one step further and say fight the urge to do a circumnavigation, and instead pick a region and explore it fully.

Dang, twice this morning I'm agreeing with Ken. Maybe I'm starting to think like him!

Now that family and friends know we are negotiating on a larger boat the response is always something like "So, guess with that you must be planning on going around the world, right?"

Our answer is always "Nope, just staying in the Carib first then heading to the Med. Far enough for us!"

[Hoodsail]

Another option in the purchase of an older boat is buying one with good bones and a minimum of systems. This enables you to add new and customize to your preferences (eg.,add GPS, refrigeration, add shore power/battery charger, add sound system that makes the mast vibrate, etc) and needs (ie coastal cruising, blue water, live-aboard) while also learning about your boat through the replacement/repair process. thnks, Dave

[hoppy]

Originally Posted by Kenomac

I'm going take this comment one step further and say fight the urge to do a circumnavigation, and instead pick a region and explore it fully. Most people we know who set out to circle the globe on a boat quit withn the first year having never seen much more than open water and shipyards.

I think it depends on the type of explorer you are. Some people like to explore every nook and cranny, some people like to stay in a place for an extended visit, some people will get bored in one place if they stay too long, some people are happy to just sample a region and move on and some people get the enjoyment in the passage making.

People need to plan their cruising based on how they and only they like to explore. This rule applies equally to a retirement grand tour or a 4 week Greek island summer escape from work.

[a64pilot]

There is sense of accomplishment if you do something like a circumnavigation.
I don't know if this is true or not, but I read somewhere that more people have climbed Mt Everest than have circumnavigated.
It's quite an accomplishment in my book

[Cheechako]

at 8-10 years many things are starting to need replacement. However, new boats are VERY expensive. Buy used after the previous owner has already done many of those replacements... usually there is zero return on his investment for replacing those items.

[Kenomac]

Originally Posted by a64pilot

There is sense of accomplishment if you do something like a circumnavigation.
I don't know if this is true or not, but I read somewhere that more people have climbed Mt Everest than have circumnavigated.
It's quite an accomplishment in my book

The person who wrote that stat forgot about people in the navy and merchant marines.