This subject and has a lot of grey area. you have to get the housing depreciation/valuation out of your head
. when it comes to boats, every one of them is different and you have to approach each boat and location as a unique situation.
when I was initially looking, going on Yacht world and looking up comparables help a little but realistically only to be uses as a guideline. with a house if you replace the siding, new roof, paint
ect that increases the value of the house. that stuff would have degraded over time anyway but end affect is a positive increase to the value.
With a boat you can strip all the systems out, put in new stuff and the boat MAY possibly be worth as much as you bought it for. if you don't do the maintenance
or have old gear
it can be detrimental and drop your value considerably. this doesn't even start to cover other issues like deck
fitting bedding going bad and resultant leaks
hours with high hours ect. boat maintenance is really expensive an engine
or genset replacement can be $14k-$50k or more, that's a new car.
i did see some vessels that had increased value but they are few. at the time we were keen on Formosa
50's (yes - Captain
Ron). looked at every one of them and thier copys from San Diego
to San Franscisco. seen prices from $30K to $250K. the higher ones had been extensively gone through, it had restoring rotted wood
beams and structure that affects these leaky teaky's, new paint
, new gear
, new engine ect. pretty much turnkey restoration
. it had added bow thrusters and maybe AC. BUT I didn't see a lot of movement on that boat while the cheaper ones were moving decently fast. we were in contact with several of the owners and my wife at the time was cyber stalking several. the majority of them at the time were in a small range around $50K, didn't have many extras or electronics
, an would need to be completely gone through. it was pretty clear that it didn't matter how old or what gear was onboard.
My current boat, looking at the documentation history
it originally sold
for $150k, and all the owners including myself paid ~130K. no extras, same gear, I have done more upgrades than previous owners. i am on the owners forums
and the sister boats are selling around $100K although I seen a few in the $80 range. most of them are no frills with basic systems, older electronics
ect. i think MAYBE i could get $130k if i ever wanted to sell. I have also put $50k+ into it. defiantly not a nest egg building retirement
Hope that helps, not an easy to answer subject. i do know that regardless find who te best surveyor
in your area is, make sure he isn't connected with the brokerage, and have a detailed and full survey
done as part of the purchase
condition. also pay to have a rigger survey
the rigg and a good mechanic
survey the engine. its worth your money
and likely give you a little negotiating power, or at least you will get enough info to see how much you will have to repair or replace and if its worth it for you. $1000 or so out of pocket is better than trying to re-sell a moneypit no one wants.