do big race boats depreciate?

[Guest]

the short answer is that most people have no idea now much a billion is, people who play with 100 foot race boats make more in interest that day than the boat cost 

 

[Pollination]

Everyone knows the purchase price of the yacht is the cheapest part of the process. 

 

[Gouvernail]

The value of a sailboat is either

** Whatever the owner thinks it is worth

or

** Whatever a buyer is willing to pay

 

[Navig8tor]

The value of a sailboat is either

** Whatever the owner thinks it is worth

or

** Whatever a buyer is willing to pay

^^^^^^This.

 

[LB 15]

This may be a record

Ragamuffin 2004 90'. Cost over $8 million US to build now $85,000.

Tell him he's dreamin.

 

[kent_island_sailor]

You forget something: he got his money's worth because for family members, colleagues and friends (and self) he is a "yachtman"

Same reason the slowly decaying boats in Florida owned by slowly decaying people don't get sold, neither one can really move, they are going down together. The guy is a sailor to the last breath

 

[fastyacht]

Does the sun rise in the east?

 

[jekyll]

 It’s not exactly trickle down-  it’s more like flush down.
 

 But!  there is the formula

           $

________________     (   :wub:   )   =  

            H
 

H = hours sailing
 

Interesting that you use that quote as one of the best known maxi race boat owners, George David, called one his baots the Idler after that quote - followed by Rambler, 90, 100 and 88.

 

[jekyll]

 It’s not exactly trickle down-  it’s more like flush down.
 

 But!  there is the formula

           $

________________     (   :wub:   )   =  

            H
 

H = hours sailing
 

https://en.wikipedia.org/wiki/The_Rambler

 

[[email protected]]

As mentioned above, (some?) AC boats'd have to have the worst depreciation... imagine the depreciation on the Alinghi catamaran after, what, 3 races? 

... what ever happened to her?

 

[Amati]

Interesting that you use that quote as one of the best known maxi race boat owners, George David, called one his baots the Idler after that quote - followed by Rambler, 90, 100 and 88.

The blessings of a classical education.    Building boats keeps a person off the streets.  It’s a sweet addiction.  (I’m not in George’s league, but I wish I were!)

You have, no doubt, perused my signature below....

 

[Amati]

As mentioned above, (some?) AC boats'd have to have the worst depreciation... imagine the depreciation on the Alinghi catamaran after, what, 3 races? 

... what ever happened to her?

But watching Stradivarius sail 30 feet from Amati was uplifting beyond words.  What price beauty?  And the Cat was even more beautiful. It would be amazing to see her sail by in person.

 

[Amati]

Yup 

i know  one that was listed at 1.2 million , then 850 k , presently 500 k

good boat, no offers 

it will probably go for 250k

in general racers , racer cruisers are a very poor investment 

Depends on your definition of the word ‘investment‘.  I’d say investing in a 7’ Bosendorfer was worth every penny, assuming you had it worked on every month.  The way Debussy Preludes sound on one of those things fills the soul.

 

[Windward]

Couch cushion money for a lot of these folks.  It's play money.

Somewhere on another thread was a discussion of rental "fees" for a mega yacht.  Essentially a charter rate that said "go away"

So on paper, its a rental.

Fully depreciated asset for a business to offset some taxes?  This is way past my financial understanding of how it works in real gritty detail, but if true, I get the concept... sort of.

 

[Amati]

This may be a record

Ragamuffin 2004 90'. Cost over $8 million US to build now $85,000.

Why even sell it?  Tax play?  New sail  for the next boat?

 

[TUBBY]

Closing down sale.

Sid has finally had to put the toys away and swallow the anchor,  a couple of years ago.  

The 90 would be about the last one left,  but I think the TP is still there for his grandson.

 

[Amati]

Couch cushion money for a lot of these folks.  It's play money.

Somewhere on another thread was a discussion of rental "fees" for a mega yacht.  Essentially a charter rate that said "go away"

So on paper, its a rental.

Fully depreciated asset for a business to offset some taxes?  This is way past my financial understanding of how it works in real gritty detail, but if true, I get the concept... sort of.

We were next to one of those charters for a couple of nights up in Vancouver a few years ago.  Coal Harbor. (Harbour?) Travolta chartered her.  Big blue thing.  There was security, etc.  So somebody can afford it...

 

[kent_island_sailor]

Back In The Day boats could be an investment. We never sold a boat at a loss and my current boat could have been sold at a substantial profit at one point.

That was a long time ago and likely not ever happening again What we have now is an enormous fleet of boats slowly decaying and lacking anyone willing to spend $50,000 to turn a $20,000 boat into a $35,000 boat. Also note I can park an antique airplane for about $70/month while I decide what to do with it and a car for free behind the shed, but an old boat is not usually going to just sit someplace for free or even close to free, except for the ones that get anchored in "zombie cove", the registration numbers removed, and the owners never to be seen again.

 

[Cuffy]

As mentioned above, (some?) AC boats'd have to have the worst depreciation... imagine the depreciation on the Alinghi catamaran after, what, 3 races? 

... what ever happened to her?

Was in Valencia marina couple of years ago and it was just sitting  there

 

[Trovão]

As mentioned above, (some?) AC boats'd have to have the worst depreciation... imagine the depreciation on the Alinghi catamaran after, what, 3 races? 

... what ever happened to her?

make that 2. and, afaik, it was still in valencia, abandoned at some parking lot by the harbor.