newbie confused

[heatherann]

hi just thought id pop in for some info on yacht ownership. how can a boat that is 35 years old depreciate anymore than it already has? trying to figure costs per month after out right buying boat.any information is greatly appreciated.

[haiqu]

What you really need to look up are running costs and maintenance. At that age the boat won't lose value much but maintaining it in working condition can be a significant expense.

[Target9000]

At 35 years old, you're not really looking at depreciation anymore, but more fluctuations in market value based on the market itself as well as the condition of the vessel. As haiqu notes, keeping the vessel in good condition can be a significant cost.

[letsgetsailing3]

The boat won't really depreciate, but could be worth less due to deferred maintenance or needed upgrades or maintenance (ex. sails).

[GrowleyMonster]

At that age, a lot of boats are ready for repowering. You can easily spend 3x the purchase price of the boat on a new diesel, or twice that on electric.

The good thing about 70's boats is most of them are built like tanks. But you still need to inspect carefully for delamination, rotting core material, (decks mostly) and serious blistering.

Anywhere steel attaches to aluminum mast can have deep corrosion. Check for that. Sometimes you can move attachment points a couple of inches to more sound aluminum.

You will be spending a lot of $ on new sheaves and stuff. You want a lot more spares than you would have on a 10yo or newer boat.

Standing rigging ought to be replaced. Some of these old boats have the original stays and shrouds. More $.

You might want to renew your gelcoat. More $. All plasic and rubber will want renewing. More $, now, or later.

More $.

More $.

More $.

Catch the general drift here?

If you keep it up, it won't depreciate. Its already done that. Like they said, it is the maintenance that will sometimes make you wonder if maybe a newer boat would be a better idea. That said, I like my old '76 built boat.

[Adventurebound]

I recently took up sailing and found that buying stuff for your boat can be relatively inexpensive if you shop around off season, buy what you need, not what the sales people want you to buy, shop second hand can be best value except for electronics. Hoever ,labor is charged at ripoff prices if they think they can get away with it. Buying a new boat if you arn't a competant handyman is cheaper.

[SV THIRD DAY]

Perfect example:

We bought a 1978 Pearson 365 Ketch for $35,500

Then we put $60K into her to get ready for cruising.(well that's all I will admit to with my wife looking over my shoulder)

Sold her for $37K when we were done with her.

Moral of the story....buy an older boat that has ALREADY had the major work done to her! The cheaper older boat that hasn't been updated is Fools Gold my friend.

[SkiprJohn]

Aloha and welcome aboard!

[maxingout]

A boat that is thirty five years old is fully depreciated. What you are looking at is the cost of a refit which can be substantial. If you are lucky and you get a well maintained boat just finishing a cruise with relatively new gear, then your expense will be lower. If you have to do a major refit, then expect to spend some real money.

When you find a yacht that looks promising, take a paper and and pencil, and figure out the real cost of fixing everything on the yacht and getting it up to speed. It can be surprising how much really needs to be done and how much it all costs.