You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
beat this! money lost on boats!
- Thread starter patrick and linda
- Start date
patrick and linda
New member
interesting statement, "you can cook the books any way you like"!
when i read about corporate accounting fraud, or, accountants cooking the books, it's all about deception.
when i stated this thread deception was not in my thought process nor do i believe it was the case with any response thus received. it was however, an honest attempt to share cost associated with boating buying and subsequent selling... obviously a 10% loss on a $20,000. boat is only $2,000. as opposed to a $20,000. lost on a $200,000. boat. while i can handle these losses, it never the less becomes obvious, some mistakes just can't be repeated. i believe my current boat, and dare i say, my last boat, is the perfect fit for linda and i. sad, it only took 20 years and a considerable amount of money to get it right! for me, boating time is limited as i have other activities that compete for my free time. hopefully, when i retire, time will not be an issue!
personally, i've done well with real estate, even in this environment, so the boat thing is a mute point, although, some visitors to this site might find our experiences of interest and hopefully will save them money!
pat
when i read about corporate accounting fraud, or, accountants cooking the books, it's all about deception.
when i stated this thread deception was not in my thought process nor do i believe it was the case with any response thus received. it was however, an honest attempt to share cost associated with boating buying and subsequent selling... obviously a 10% loss on a $20,000. boat is only $2,000. as opposed to a $20,000. lost on a $200,000. boat. while i can handle these losses, it never the less becomes obvious, some mistakes just can't be repeated. i believe my current boat, and dare i say, my last boat, is the perfect fit for linda and i. sad, it only took 20 years and a considerable amount of money to get it right! for me, boating time is limited as i have other activities that compete for my free time. hopefully, when i retire, time will not be an issue!
personally, i've done well with real estate, even in this environment, so the boat thing is a mute point, although, some visitors to this site might find our experiences of interest and hopefully will save them money!
pat
Captains Cat
New member
In this case, "cooking the books" involves either deceiving yourself that you haven't spent too much, or patting yourself on the back because you've had a whole lot more fun than the money you spent!
A man needs a boat like an elephant needs a bicycle! There I've said it!!
Charlie
A man needs a boat like an elephant needs a bicycle! There I've said it!!
Charlie
Boont Boater
New member
My Dad had sailboats from the time I was young until he passed away. Started out with a 21 foot wooden hull sloop and ended up with a 31 foot sloop with an inboard diesel. He always claimed that he "bought dear and sold cheap". If that was translated into Latin it could probably be on our family coat-of-arms.
He wasn't that happy of a person, off the water, but on the water he was a different man. Several of my friends, who have boats, give him credit for their passion. I may have figured it out later in life but I think I get it.
Boating is not an inexpensive hobby by any stretch of the imagination. A person who buys a big cabin cruiser as a status thing - then only uses it a few times a year - may as well be supporting a small African state. On the other hand I get the impression that the people on this site are using their boats almost every chance they get. "Alternative to psychotherapy" works, as does "my benign addiction". I don't know if boating is cheaper then heroin but it certainly is more socially acceptable.
Alright I haven't sold enough boats to give you any good numbers. But if you want to talk about lost money on motorcycles I .....
He wasn't that happy of a person, off the water, but on the water he was a different man. Several of my friends, who have boats, give him credit for their passion. I may have figured it out later in life but I think I get it.
Boating is not an inexpensive hobby by any stretch of the imagination. A person who buys a big cabin cruiser as a status thing - then only uses it a few times a year - may as well be supporting a small African state. On the other hand I get the impression that the people on this site are using their boats almost every chance they get. "Alternative to psychotherapy" works, as does "my benign addiction". I don't know if boating is cheaper then heroin but it certainly is more socially acceptable.
Alright I haven't sold enough boats to give you any good numbers. But if you want to talk about lost money on motorcycles I .....
journey on
New member
Well, if you want to talk about money lost on things you enjoy, boats are cheap. Bought several boats all new and then sold them for more than I bought them for, thanks to inflation. Never bought one of them go fast things though.
As Boont Boater mentions, if you want to lose money on your toys, try racing motorcycles, or anything mechanical for that matter. You buy a bike, throw it in the back of your truck and it's half gone without turning a wheel. And then there's the parts bill. And your repair bill. At least on boats, you aren't trying to break the new radar. Or yourself.
Try racing airplanes. When your main sponsor is the one who buys your fuel and you have the entire ground crew listed on your wing, that's expensive.
My thesis is that boats are cheap. They aren't necessarily cheap to buy, but you can get your money out of them, and the maintenance costs are relatively low.
Enjoy your bargains and quit whining.
Boris
As Boont Boater mentions, if you want to lose money on your toys, try racing motorcycles, or anything mechanical for that matter. You buy a bike, throw it in the back of your truck and it's half gone without turning a wheel. And then there's the parts bill. And your repair bill. At least on boats, you aren't trying to break the new radar. Or yourself.
Try racing airplanes. When your main sponsor is the one who buys your fuel and you have the entire ground crew listed on your wing, that's expensive.
My thesis is that boats are cheap. They aren't necessarily cheap to buy, but you can get your money out of them, and the maintenance costs are relatively low.
Enjoy your bargains and quit whining.
Boris
patrick and linda
New member
Hi boris,
Thie original post was for the exchange of information. Not sure how you could consider it wining. While many of us have the where with all to throw our money away in any manner we choose, there are some that just can't afford huge hit's. Sharing info imforms all. Obviously we are all big boys, but had I read post like this 20 years ago and understood what they meant, I might have done things differently. That's is the point!
Pat
Thie original post was for the exchange of information. Not sure how you could consider it wining. While many of us have the where with all to throw our money away in any manner we choose, there are some that just can't afford huge hit's. Sharing info imforms all. Obviously we are all big boys, but had I read post like this 20 years ago and understood what they meant, I might have done things differently. That's is the point!
Pat
Boont Boater
New member
Hi Pat,
I think you started an interesting post. But kind of like a coffee shop conversation (I've had a lot of practice) the topic drifted. It's still good fun.
My favorite Mae West line: "I started out like Snow White but I drifted".
Jeff
I think you started an interesting post. But kind of like a coffee shop conversation (I've had a lot of practice) the topic drifted. It's still good fun.
My favorite Mae West line: "I started out like Snow White but I drifted".
Jeff
patrick and linda
New member
i seem to have notice a trend in my post over the years. they started as humorous, fun loving type, to, informative as well as fun, and of late, more on the, i'm not having fun, type. my oct. 28th post stated my motivation for this thread. enough said.
this will be my last post.
best regards to all
pat
this will be my last post.
best regards to all
pat
journey on
New member
Well, Pat, I can appreciate the rationale behind your post and it certainly is valid. There was no intent to dismiss your viewpoint. But for years, I've thought the boat owning was a cheap way to enjoy life, as opposed to the other things I've been doing. I tried to say that and give some examples, tongue in cheek.
I was going to include divorce as a way of wasting money. Certainly if I'd had any sense 40+ years ago, I'd have done something different. Though I don't know if I would have wanted different kids.
Please note that C-Dorys don't lose their value, if the For Sale column is any example.
Boris
I was going to include divorce as a way of wasting money. Certainly if I'd had any sense 40+ years ago, I'd have done something different. Though I don't know if I would have wanted different kids.
Please note that C-Dorys don't lose their value, if the For Sale column is any example.
Boris
Don't let it get to you, Pat. It is an interesting thread. Some people write (and talk) abruptly; doesn't mean any rancor. Those of us who enjoy boats, RVs, motorcycles and the like will never be understood by most "normal" folks. Trying to put our desires into debits and credits? Well you can't take it with you, but it's nice to have some of "it" while you're here. Money, time, passion, frustration... The ones who come out ahead are the ones with the best balance. :wink:
Best wishes,
Jim
Best wishes,
Jim
A boat can be a "magic carpet" to other worlds and ways of life. This does not have to be a world cruise, but even just a trip to the San Juans, Gulf Islands of Broughtons, will bring you in touch with people whose lives are far different than yours. However, you share a common bond: the sea. We have enjoyed fishermen, who only owned a wooden dugout canoe, on up to being inivited a board a megayacht with two pilots, two Vallets and a crew of 10... All of our wanting to adventure on the water. There is no price tag that can be put on those experiences.
Recently my daughter had to write a paper in a competition to have her private school send her to a conference. The paper started with her experiences as a young child, as we exposed our children to foreign cultures. Her expectations were far different from the reality of the people she met. This essay got her the ticket to the conference.
Recently my daughter had to write a paper in a competition to have her private school send her to a conference. The paper started with her experiences as a young child, as we exposed our children to foreign cultures. Her expectations were far different from the reality of the people she met. This essay got her the ticket to the conference.
A
Anonymous
Guest
breausaw":6tc69wjq said:I have never lost a penny on a boat; the joy I have gained far outweighs the cost. We never really think twice about the cost of fuel, tow vehicle depreciation, launch fees, parking fees, etc, etc. We are here on this earth for a short time and you can’t take it with you, just can’t relate. When we retire in a few years a Nordic Tug will replace the house.
As long as health permits your passion should persist.
Indeed!!!!!
Brand Newbie Mawgie here-
I am shopping for only my second power boat, most likely a used C-Dory 22 Cruiser. My first was a Starcraft Fishmaster, bought in January here in Upstate NY, for $9,000, after an estate sale. (I went back with cash after the sale closed.) Mint, low hours, full canvas, trailer.
The I/O rattled and hummed the entire aluminum boat. Never really cottoned to it. Wife never liked the utterly spartan fishing layout and lack of seating. Me neither.
Also, at the time, we owned rental property, and I was spread way too thin to carve out any time to meaningfully boat. We ended up selling the boat for $12,000 two years after buying it, with the only major expense being new leaf springs for the trailer, which catastrophically let go on the tow home from the first cruise. (My first ohh sh** moment trailering, and a dandy.)
I could torture the numbers and claim I made money, but between pre-purchase inspection, fuel, insurance, sales tax, new springs, outfitting the boat, etc., it was closer to break even.
Flash forward, I am now almost 50 years old, rental property is sold, and we want to have at it, more comfortably, while we can. The C-Dory, even if it is not for us in the long run, is a great choice. I may take a hit reselling it, but likely not a bad one, so long as I hold out and buy one pretty well.
In our case, a C-Dory purchase is being evaluated against alternative purchases like a regular upgraded summer rental, a primary residence upgrade, a motorhome, etc., all very discretionary purchases, at least for us. These alternatives are will all lose more money than a decent C-Dory purchase, methinks......
We don't plan to make a penny. I just plan to buy a sound boat used, at a good price, enjoy it and continue to live well within our means while we do so, and keep the hit within reason when I resell it.
It seems to me that many of the folks who have never lost any money on boats: 1) have connections to boats for sale that many do not, and get deals the average bear will never have a crack at; 2) have DIY skills to repair and refit, and leverage same; and 3) fudge the numbers by paying themselves $0 per hour for time spent acquiring, repairing, refitting, using, then reselling the boat, when it comes time to analyzing how much they "did not lose" while owning the boat......
My newbie 2 cents.
Finally, as the old adage goes, isn't it true that the best way to make a small fortune owning boats is to start with a big one............
Regards-Mawgie
I am shopping for only my second power boat, most likely a used C-Dory 22 Cruiser. My first was a Starcraft Fishmaster, bought in January here in Upstate NY, for $9,000, after an estate sale. (I went back with cash after the sale closed.) Mint, low hours, full canvas, trailer.
The I/O rattled and hummed the entire aluminum boat. Never really cottoned to it. Wife never liked the utterly spartan fishing layout and lack of seating. Me neither.
Also, at the time, we owned rental property, and I was spread way too thin to carve out any time to meaningfully boat. We ended up selling the boat for $12,000 two years after buying it, with the only major expense being new leaf springs for the trailer, which catastrophically let go on the tow home from the first cruise. (My first ohh sh** moment trailering, and a dandy.)
I could torture the numbers and claim I made money, but between pre-purchase inspection, fuel, insurance, sales tax, new springs, outfitting the boat, etc., it was closer to break even.
Flash forward, I am now almost 50 years old, rental property is sold, and we want to have at it, more comfortably, while we can. The C-Dory, even if it is not for us in the long run, is a great choice. I may take a hit reselling it, but likely not a bad one, so long as I hold out and buy one pretty well.
In our case, a C-Dory purchase is being evaluated against alternative purchases like a regular upgraded summer rental, a primary residence upgrade, a motorhome, etc., all very discretionary purchases, at least for us. These alternatives are will all lose more money than a decent C-Dory purchase, methinks......
We don't plan to make a penny. I just plan to buy a sound boat used, at a good price, enjoy it and continue to live well within our means while we do so, and keep the hit within reason when I resell it.
It seems to me that many of the folks who have never lost any money on boats: 1) have connections to boats for sale that many do not, and get deals the average bear will never have a crack at; 2) have DIY skills to repair and refit, and leverage same; and 3) fudge the numbers by paying themselves $0 per hour for time spent acquiring, repairing, refitting, using, then reselling the boat, when it comes time to analyzing how much they "did not lose" while owning the boat......
My newbie 2 cents.
Finally, as the old adage goes, isn't it true that the best way to make a small fortune owning boats is to start with a big one............
Regards-Mawgie
My impression is that the C Dories in general have decreased in value a bit more in the last few years--where for some time they were holding their value pretty well. (That is they were selling used, for about what was paid for them new--xxx years ago.) Recently the cost of new boats has skyrocketed--and the Tom Cats were considerably more expensive to start with. Since I last wrote on this thread, I sold the Tom Cat 255, and I had well over $130,000, plus about $15,000 in the truck, so took about a $40,000 hit.
Probably a good time to buy a used 22 older than 2006--the 25's seem to be still holding the price, and the Tom Cats are down from their purchase prices. My suspicion is that the Tom Cats will stay pretty stable at the current prices. But a lot will depend on what happens with the economy in the next few years. If it remains bad-then boat prices may come down a bit more. My impression is that the boat builders are optimistic based on this last spring's sales--and then the market and national economy was more stable than currently....
In any case--there are some good buys,--get a boat and enjoy!
Probably a good time to buy a used 22 older than 2006--the 25's seem to be still holding the price, and the Tom Cats are down from their purchase prices. My suspicion is that the Tom Cats will stay pretty stable at the current prices. But a lot will depend on what happens with the economy in the next few years. If it remains bad-then boat prices may come down a bit more. My impression is that the boat builders are optimistic based on this last spring's sales--and then the market and national economy was more stable than currently....
In any case--there are some good buys,--get a boat and enjoy!
Honestly, if I had to give my boat away and take a 100% loss on "investment," I'd still view it as the best purchase I ever made. I know not everyone sees their boating experience the same way. But if I think of the absolutely miniscule percentage of the human species that has gone the places I have and seen the things I have, or has just spent thousands of hours on the water as I have - all in one cool boat - well, it's hard not to feel like the luckiest guy who ever lived.
Of course when the sad day comes that I have to sell the boat, I will try to get what I can for it. But that's not why I bought it.
Of course when the sad day comes that I have to sell the boat, I will try to get what I can for it. But that's not why I bought it.
DaveS":1vjeio2u said:Wefings":1vjeio2u said:Pat , had you considered converting to Amish ? You would save a fortune !
Marc
Just be sure that you get a horse that swims REALLY WELL with you on its' back!
And make sure the buggy windows are well sealed.
rob bauerle
New member
I agree with Bill. For 10 years at work, I had a picture of a C dory on the wall by my desk. I would dream of c dorys. I retired this year and bought my c dory. Its a dream come true. Don't really care how much money I lose when I sell it. It is a part of my dream.