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do boats really hold their value that well

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Old 06-23-2015, 04:53 PM
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Default do boats really hold their value that well

I know this is a very open ended question with alot of variables. But for general purposes.
For instance im trying to buy my first boat, nothing fancy. But im seeing ALOT of boats 20-30+ years old still going for 2000+. Nothing special about them. like 18' open bow with a 100hp motor from the same year as a boat. Is this right?

Like i said i realize there are thousdands of variables (market for boats, condition, orignal purchasing price, upgrades, etc) that play into it. But i have two reasons to ask. I dont want to over pay for a boat thats 25years old. Second im debating on just spending some more like 5k. But i dont want to get something that in 3 years will be worth 2k. when im seeing all these older boats for that same price.
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Old 06-23-2015, 05:11 PM
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A 25 year old boat will cost the more than a 15 year old boat once you have to pay to get it up to par. Plus the money lost every time you get towed back to the dock. For 5k I would be looking for a low tier boat with a newer engine. There not worth having when they have to have a 800.00 repair every time you want to use them.
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Old 06-23-2015, 05:13 PM
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I am getting back into the market right now and there are some people out there that are very "proud" of their boats. As with anything, a boat is worth whatever someone is willing to pay. Some 20-30 year boats are worth a lot depending on condition but my problem is the motor. I live in an area close to saltwater. To me any motor over 10 years old is on borrowed time. Sure I know there are some that are in good running condition and might last another 10 years but it is a crap shoot. I personally will not pay over a thousand for an old motor. If the boat is in good to great condition I would not want to be into it for more than half of what the same boat would cost me new after I add in a brand new repower. For example, I am looking at a 1983 Boston Whaler Montauk with a motor that is say 15 years old. I would want to buy it for no more that 5000 to 6000 in the best of shape because once I drop the 9000 to 10000 on a new motor I will be in for half of what a new one would cost, about 30,000 to 33,000. Lesser brands or boats in bad shape to me are projects and have minimal value but some people will still dump 4000 to 5000 on them. Stupid in my opinion because by the time they fix everything they will have dumped a ton of money in it. They likely will have more in the problem boat than if they would have bought a better boat to begin with. I likely dont know what I am talking about because I have been boatless for 10 years. Prior to that though I bought my last boat for $6500(1995 Trophy 1903 with a 120 Force), used it for 8 years and sold it for $5500 to someone that was very happy with it and still has it today though he repowered with a new 150 Suzuki in 2007.
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Old 06-23-2015, 05:25 PM
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In 2007 I bought a new Tidewater 19 foot bay boat with a Yamaha F115 and a nice Aluminum trailer for $19,900. Used bay boats of the same age, size, and build quality today will have an asking price very near that. Boats hold their value very well.
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Old 06-23-2015, 05:27 PM
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Wow some of these posts are ridiculous. You are seriously wondering how much your 3000 dollar boat is gonna depreciate? How about buying it and enjoying the thing to the max vs worrying about their depreciation?. Jesus man, its a BOAT, you will lose money on it even if you dont use it and dont maintain it. Maintenance alone will run you several thousands over time. My 2 cents i will buy a toy for x amount and lose x amount when i sell it its just the way this game is played. Nobody here will buy a boat and sell it for a profit unless it was a gift or a special "lucky" shot case.
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Old 06-23-2015, 05:42 PM
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do boats really hold their value that well?
Nope.

Boats are a big loser, financially. Even if you buy it today and sell it ten years from now for every penny that you paid, you are taking a major loss (factor inflation and lost appreciation on your money.) Not to mention upkeep, storage, fuel, upgrades, repairs, insurance, etc.

But if you went on vacation for a week or two somewhere, would you expect to get your money back when you got home? Of course not. It's gone. Spent. But you had fun and still have the memories.

Same with boating. Every time you use the boat, you are spending money that you won't get back. But hopefully you are getting satisfaction and enjoyment for the expenditure.

Last edited by The Spit; 06-23-2015 at 05:52 PM.
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Old 06-23-2015, 05:47 PM
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Ain't nothing cheap anymore! I remember when I could buy Wholesale Cars at Work many years ago for $500.00-$1500.00 and flip them and make a Grand or 2 after I fixed them up.Hell,We trade freakin' Old a$$ Hondas with 200,000 miles and they come in sometimes around $1500.-$2500.! Years ago,it would have been a $100.00 car!
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Old 06-23-2015, 05:47 PM
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Originally Posted by NeilC View Post
...For example, I am looking at a 1983 Boston Whaler Montauk with a motor that is say 15 years old. I would want to buy it for no more that 5000 to 6000 in the best of shape because once I drop the 9000 to 10000 on a new motor I will be in for half of what a new one would cost, about 30,000 to 33,000. ..
A well-cared for, moderate hours 15 year old motor could be good for another 10+ years. Go ahead and buy it, use it until the motor dies. By then the replacement options will be even better thna they are today. Even if it dies tomorrow, you should be able to repower that boat for about $7K or so. You will still be way ahead -- a new Montauk 170 with any of the usual options, plus delivery/set-up, and taxes will set you back $35K or more.
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Old 06-23-2015, 05:48 PM
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BOATS are expensive Toys... BOAT stands for Break Out Another Thousand... Some boats depreciate more than others (just like cars/trucks/planes/bikes/etc) but they all depreciate & cost anywhere from a ton to a $#!tload to own...
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Old 06-23-2015, 05:51 PM
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I've been in the fiberglass business for almost 50 years. I'm on my 60th boat. I can tell you that a good boat does hold some value over the years MINUS what you have to put into it to keep it useable. Unfortunately, what you put into it can easily exceed what it's worth. SO WHAT!
Maintain it and ENJOY IT!!!!! Or just take up golf or knitting or something.
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Old 06-23-2015, 05:55 PM
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Unless you are buying an Intrepid, SeaVee or Yellowfin you will take it in the shorts. I can sell my 2011 cv for almost what I paid for it, many people buy these high end boats, keep them for 6-8 months and flip them at no loss.
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Old 06-23-2015, 06:01 PM
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If you find the right boat at the right price, you should be able to keep it's value up there. I sold each of my first 3 boats for more than I paid for them.
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Old 06-23-2015, 06:06 PM
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Originally Posted by The Spit View Post
A well-cared for, moderate hours 15 year old motor could be good for another 10+ years. Go ahead and buy it, use it until the motor dies. By then the replacement options will be even better thna they are today. Even if it dies tomorrow, you should be able to repower that boat for about $7K or so. You will still be way ahead -- a new Montauk 170 with any of the usual options, plus delivery/set-up, and taxes will set you back $35K or more.
I understand but the key word for me is "could". The older the motor the more risk. I see some people asking very high amounts for older Boston Whalers with old motors. Just because the hull holds its value doesnt mean that motor is worth more just because it is bolted to a high quality hull. A 15 year old Mercury 90 on a Boston Whaler is not worth more than the same 15 year old Mercury 90 bolted to a Trophy. See the link below.

http://www.boattrader.com/listing/19...-GLS-102361429
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Old 06-23-2015, 06:24 PM
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If you are selling, then the answer seems to be yes.

If you are buying, then answer tends to be no.

If the buyer and seller can be reasonable, you should be able to find a middle ground.
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Old 06-23-2015, 06:25 PM
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I think a good boat will last a long time but the motor is a consumable item. Buy it, run it for 10 years or so and sell it for a quarter to a third of what you paid for it seems to be my experience with the last 2 motors I have had and that 10 years is about 3000 hours for me. With mid range motors (75 and 60), the cost of owning the motor has been less than $3 an hour, plus fuel (the biggest part of my operating cost). That is tolerable.
The melt value of my 40 year old aluminum boat is more than a third of what I paid for it so I am OK with that.
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Old 06-23-2015, 06:27 PM
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Originally Posted by NeilC View Post
I understand but the key word for me is "could". The older the motor the more risk. I see some people asking very high amounts for older Boston Whalers with old motors. Just because the hull holds its value doesnt mean that motor is worth more just because it is bolted to a high quality hull. A 15 year old Mercury 90 on a Boston Whaler is not worth more than the same 15 year old Mercury 90 bolted to a Trophy. See the link below.

http://www.boattrader.com/listing/19...-GLS-102361429
Yeah, that 15 asking price is way high. But it's an anomoly -- I see them routinely, same vintage for $5-7K (http://jerseyshore.craigslist.org/boa/4991063599.html), so that owner is just whacked. His price would be about right if it had a very recent re-power.

You can get a nice Montauk 17 for that price or less:

http://jerseyshore.craigslist.org/boa/5052790745.html

http://jerseyshore.craigslist.org/boa/5049575621.html

http://cnj.craigslist.org/boa/5088194000.html

http://cnj.craigslist.org/boa/5079797732.html

http://newyork.craigslist.org/jsy/boa/5080724837.html
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Old 06-23-2015, 06:31 PM
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Originally Posted by The Spit View Post
Yeah, that 15 asking price is way high. But it's an anomoly -- I see them routinely, same vintage for $5-7K (http://jerseyshore.craigslist.org/boa/4991063599.html), so that owner is just whacked. His price would be about right if it had a very recent re-power.

You can get a nice Montauk 17 for that price or less:

http://jerseyshore.craigslist.org/boa/5052790745.html

http://jerseyshore.craigslist.org/boa/5049575621.html

http://cnj.craigslist.org/boa/5088194000.html

http://cnj.craigslist.org/boa/5079797732.html

http://newyork.craigslist.org/jsy/boa/5080724837.html
Maybe I need to make a road trip up north.
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Old 06-23-2015, 06:37 PM
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Originally Posted by Schmaltz~Herring View Post
Unless you are buying an Intrepid, SeaVee or Yellowfin you will take it in the shorts. I can sell my 2011 cv for almost what I paid for it, many people buy these high end boats, keep them for 6-8 months and flip them at no loss.
this I am surprised is still happening, how long do you think this trend will continue?
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Old 06-23-2015, 06:55 PM
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Originally Posted by Biglurp View Post
If you find the right boat at the right price, you should be able to keep it's value up there. I sold each of my first 3 boats for more than I paid for them.
I'm on my fourth boat in 15 years here in Alaska. I buy older hulls, expect to repower, then clean the boat up, add new electronics and whatnot, play with the boat for a couple of years, sell it for nearly double the purchase price + motor. Probably still just break even with the money and time spent on the other items, but it's a bit of a hobby.

I definitely don't look at it as an investment. I'm happy that I'm not losing my shirt on the things (as is my wife) but I expect if I actually took the time to expense out ** everything ** I'd be somewhat dismayed (as would my wife, minus the 'somewhat').
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Old 06-23-2015, 07:17 PM
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It seems most boats will loose their value quickly in the first 5-7 years but decline at the value loss rate after that. Some brands seem to hold their value better (I know used Yellow fins and Action Crafts are in good demand so they tend to hold their value pretty well versus others).
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