Depreciation proof boats?

[Nick2]

I always factor depreciation as the greatest car and possibly boat ownership cost and was pleased to have completely escaped this after selling my Corniche. Now as I start to devote some thought to the next one I am naturally keen to buy with this in mind again.

What boats are tending to hold value or possibly as in the case with mine appreciate slightly? Am I reasonably safe with 5 - 10 year old Fairlines, Princess, Nimbus or Broom all less than say 11/12M etc and are there any other good tips?

Thanks

Nick

 

[tcm]

yeah, tho the depreciation argument means you never ever get a wacko decent car - the moggy minor nursemobile being a basketcase in point?....

Anyway, yep regarding your choices REASONABLY safe. Popular models hold better than others. So, corniche is okay, 42AC is most certainly not. TYour next move i spose is a t36?

 

[Deleted User YDKXO]

A man after my own heart. It's my primary consideration when I buy a boat because boating is expensive enough without chucking money away on depreciation. FWIW, I think this is common sense but my own rules are

1)Never buy new

2)Only consider popular models from well known manufacturers preferably with reputations for quality

3)If there is a big price variation between older and newer versions of the model in which you are interested, buy one at the lower end of the price range

4)Consider models which are still in production, buy an early version and sell before the model is discontinued

5)Be prepared to travel. You might find cheaper boats in another part of the country or abroad

6)Never buy a boat with the least powerful engine option. In fact, look to buy the most powerful engine option because it will make it much easier to sell on

7)Dont be put off by cheap boats in bad condition providing you can drive a hard bargain. Bringing a boat upto A1 condition can cost less than you think

8)Dont pay over the odds for refurbished boats. A boat will never re-sell for more than its normal price range

9)Consider buying abroad if recent exchange rate movement has created a price anomaly. For example it may be worth considering buying a Brit boat in the USA because the Dollar is so weak at present but make sure you do your homework on extra costs like transport, VAT, CE marking costs, voltage change etc and take advice on the legal aspect of the purchase

10) Re-sell privately to avoid broker's commission and be prepared to wait for a sale

I dont know your budget but in the 5 -10yr old range, you might consider the following

Broom 38CL or 41 (not at silly prices)
Fairline Phantom 38 or 40
Princess 360 or 38 or 40
Sealine 360/F36.F37 or 410/F43
Nimbus 37 Trawler

 

[Moose]

Oi!!! /forums/images/graemlins/confused.gif

 

[Deleted User YDKXO]

Ooops, massive typo, Moose. Should have put Phantom 37 not 38 or maybe as well as

 

[DepSol]

I think that was a list of them that might sell quickly too /forums/images/graemlins/grin.gif

 

[Nick2]

Thanks Mike - as you say common sense but very helpful to see your "rules". Many of those on your suggested list are also on mine but Joanne wants to think about a sportboat (some sort of Fairline Targa I suspect).

Jury and bank manager still out however and we intend to keep our options open for a while.

BTW TCM whats wrong with Morris Minor's - at times its been the only car around here to work properly?!!!!

Next week will post about my first private boat selling experience if anyones interested.

Nick

 

[petem]

I agree with Deleted User's post.

Targa 34's and 37's have both pretty much bottomed out and would be a safe bet. Maybe not 0% depreciation but not far off.

 

[ari]

Be conservative. Stick with "big names", Fairline, Princess, Sunseeker etc.

Stick with the "normal" engines and popular hull colours.

You'll often see temptingly cheaper boats because they have slightly "obscure" engines for example, and your research may (entirely correctly) lead you to conclude that there is nothing wrong with those type of engines so why not make the saving. But when you come to resell you'll find out why it was on the market for less as everyone else thinks conservatively.

Classic example is Yamaha diesel engines. Actually a really nice engine, but because they were rarely fitted people are very wary of them.

As far as hull colours go, the greeny turquoise colour on Fairline Targas seems to be a real no no second-hand.

I think some of these things are self fulfilling phrofecies. There are enough people who don't mind the turquoise for it not to be an issue in theory, but because they are concerned about resale value they either don't want to risk it or want to pay less so as a result they do actually become worth less.

The comment about big engines a good one too.

Concentrate on the fixed things. You can change things like unfortunate upholstery choices or knackered canopies, but engines and hull colours you're pretty much stuck with.