Is there any logic to owning a boat?

I think some are conflating asset with investment. Bullion is also an asset, a means of storing stable value but not an investment. 

The best way to make a million dollars sailing? Start with two million. 

 

accnick

Super Anarchist
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While going through the process of looking for my dream boat I have found myself trying to explain the purchase to my friends and family and realize almost everything I say to them sounds completely irrational. In particular it probably (she would never be confrontational like a western woman) sounds crazy to my long-distance filipina girlfriend, since you can buy a nice little two hectare farm on the oceanfront there in the province (translates roughly to middle of nowhere on a small island only accessible by bangka) for $10,000, complete with money producing coconut trees. It all started when I got on Yachtworld a few months ago to help a friend find a powerboat... 

My best rationalization thus far has been "I don't feel comfortable with fiat currency right now with all the government spending, and need to put money into tangible assets. Land is overvalued, I couldn't even find an affordable winter home in Florida bigger than a trailer to spend the next cold winter." Injecting "fiat currency" into the discussion has been helpful to confuse most of those that might try to talk me out of it. 

I'm just ventilating, since I know most people here share my mental illness. The best reason for buying a boat is always "f*$&  it, I just want it." But it might settle my nerves if I hear a few craziness stories from other people. 

https://uk.boats.com/boat-buyers-guide/is-there-any-logic-to-owning-a-boat/
At the best of times, a boat is a depreciating asset. It is only an asset in that it generally has some residual value after depreciation.

Boats cost money, continually.

The price you pay for the boat is only the price of admission. Popcorn, and everything else, is extra.

I justify boat ownership in that I've made my living around boats, in one form or another, for the last 45 years. I like being on the water.

 

Zonker

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Why are you worried about "fiat currency" so much. It's what all the world uses (unless there are countries still tied to shiny yellow metal)

 
I was hoping this would be just a good sarcastically snarky thread to kill some time. Since I stopped buying new boats about twenty years ago, I have made money on every single one I have owned including insurance, repairs etc. But I have stuck to flipping smaller boats that have depreciated tremendously and I do all the work myself. So much work that it became a second career, and as much per hour as my doctoral degree career at times especially with insurance work or people that want a guaranteed price which I then estimate at four times what I think it might be. Current marina prices: $90 per hour for applying varnish, yikes. And fiberglass repair or spraying gelcoat, this seems to be a vanishing skill as I get calls from dealers hours away from me with no paid advertising. 

With a 40 foot plus sailboat in salt water it is hard for most people just to keep up the maintenance and the breakable bits and pieces can be expensive budget busters. Expect to put at least 10% of the purchase price into keeping it up or 10% into depreciation through deferred maintenance. 

 

SloopJonB

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Why are you worried about "fiat currency" so much. It's what all the world uses (unless there are countries still tied to shiny yellow metal)
It's a pretty standard right wing POV.

Any time I see someone post about "Fiat currency" I ignore anything they have to say about economics.

 
Why are you worried about "fiat currency" so much. It's what all the world uses (unless there are countries still tied to shiny yellow metal)
Another mind reader. Why are you not worried about it ha? A little worrying can go a long way to keep a person from getting screwed. I can give you about 800 good reasons but it would then be in the political anarchy section. Fiat currency is not actually money, it is based on the population's belief in their government handling economic affairs in a responsible fashion. Gold is money. 

 

El Borracho

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Another mind reader. Why are you not worried about it ha? A little worrying can go a long way to keep a person from getting screwed. I can give you about 800 good reasons but it would then be in the political anarchy section. Fiat currency is not actually money, it is based on the population's belief in their government handling economic affairs in a responsible fashion. Gold is money. 
A boat is "money" too. Look it up. Such a strange person you are: Confusion regarding boats, money and filipinas. Why are you in Ohio flipping boats when you could be filpping your filipina in the filippines? That there is a logical conundrum.

 

Black Jack

Super Anarchist
Sail on other friends' boats unless you need to an escape from work, life or family. Otherwise charter anything that works for you and where you want to be. 




 
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ChrisJD

Member
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Boston, MA
Weird thread - what with the initial question that seems to have been put out there to get a rise out of people, and the semi-overt PA trolling.

To respond to the perhaps-already-answered question that started it all, the logic to owning a boat is that you like to own a boat.  It's sort of like the logic to going on an expensive vacation, or the logic to collecting 12th century China, or the logic to riding horses.  I knew when I was 20 that I wanted to be able to own a sailboat, and made a number of choices in life specifically intended to put me in a position to buy and maintain the boat that I wanted.  It costs a bomb, but then I'm relatively frugal in other areas and don't have kids.  I have no regrets whatsoever: what's the point of having more money than you absolutely need if you can't spend it on the things you absolutely want?

 

Heisenberg

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The correct number of boats to own = n + 1 where "n" is the number of boats currently owned. Consequently, you really ought to be looking at 2 boats concurrently.

 

nolatom

Super Anarchist
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Or we could compare it to having a child, or children.   Are they expensive?  Yes.  Are they going to increase in value?  Maybe, though not in a monetary sense, they'll put deep dents in your bank account.  Are they difficult sometimes, and wonderful at other times?  Yup.  Will they take a lot of your time, and be unpleasant or difficult? Yeah.   

So, why do we do it?  Because we love them.  And the rest of the disadvantages melt away when re realize that, and live it.

 
Strange yes. Confused not at all. This thread has gotten all serious and boring. When the New World Order lets the common people travel again I will be spending most of my time in the Philippines.  The girlfriend already has three boats ha. To those tender hearted people that I have apparently offended with my sarcastic, light hearted weird opinions, I offer my most sincere apologies. Not really hahaha.  

Nothing like four new friends taking their tops off after going tubing. 

IMG_4681.JPG

 

Panoramix

Super Anarchist
Logic :

Logic (from Greek: λογική, logikḗ, 'possessed of reason, intellectual, dialectical, argumentative')[1][2] is the systematic study of valid rules of inference, i.e. the relations that lead to the acceptance of one proposition (the conclusion) on the basis of a set of other propositions (premises). More broadly, logic is the analysis and appraisal of arguments.[3]


From wikipedia.

I am sure we can al find valid rules of inference to justify a boat!

 

sledracr

Super Anarchist
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Or we could compare it to having a child, or children.   
Heh.  I used to do "TCO" (total cost of ownership) analysis around technology investments.  e.g., the cost of replacing a server in the datacenter isn't the cost of the server, it's the cost of the hardware, plus the software, plus the software maintenance, plus the implementation labor, plus the hardware maintenance, plus the labor to do updates and patches and performance tuning and configuration, plus, plus, plus, over the expected life of the thing, minus quantifiable benefits (labor savings, operational efficiencies, scaled capacity, reduced power costs, etc) during that period...

...but they I'd advise them that the TCO model isn't applicable for making some types of decisions.  For example, don't EVER try to calculate the "total cost of ownership" of having children.  You'll find they are almost infinitely expensive, and return very little in the way of quantifiable benefits.  The "investment" math is horrifyingly upside-down.

:p

 
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ROADKILL666

Super Anarchist
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Or we could compare it to having a child, or children.   Are they expensive?  Yes.  Are they going to increase in value?  Maybe, though not in a monetary sense, they'll put deep dents in your bank account.  Are they difficult sometimes, and wonderful at other times?  Yup.  Will they take a lot of your time, and be unpleasant or difficult? Yeah.   

So, why do we do it?  Because we love them.  And the rest of the disadvantages melt away when re realize that, and live it.
Sure but you can sell your boat.

 


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