Role of asset depreciation in larger (60f) boats

[henryf]

We are all most certainly First World citizens. All you can do is play the hand you’re dealt.

I used to be someone who worked every hour God sent and never spent a bean. My theory was that one day I’d cash in my chips and live life.

Then my stepfather died in his early 50’s. We used to visit marinas and he’d say one day I’ll get a boat. Don’t get me wrong as a salaried man with a passion and talent for sport he lived a good life but his one day never came.

As a self employed man I burnt the candles at both ends but after his death I made absolutely sure that I didn’t put the fun things off.

So yes, there absolutely comes a time when the numbers balance, you eat most nights and you can start pulling the trigger on stuff at what ever level your cloth is cut to.

Henry

 

[Portofino]

26.28% including dividends and fees since the beginning of the year. (Just looked it up in my online brokerage account)

Ssssch don’t tell Henry. He will have a fit .

One of mines on 34 .8 % today since Jan .” Just looked it up online “ But thought it not clever to cherry pick that one one out .
Glad I did not - then .

I gave a realistic medium risk managed fund return .

Pssst U.K. inflation running @4 % - whoops !

 

[henryf]

What is the point of earning 34.8% interest if you aren’t going to enjoy it?

If my commercial property portfolio was earning 35% I would already be in the next new boat.

You must spend a lot of money on some other over priced distraction.

You’re on the wrong forum, this is for people who love boats…….

Henry

 

[Bigplumbs]

As I said earlier Don’t spent so much time making a living that you don’t have enough time to make a life

 

[Bigplumbs]

Because Life is all about money.....So many people don’t and never will get that

why am I not surprised as I said some will never get it.

 

[Bouba]

One of mines on 34 .8 % today since Jan .”

Are you the one responsible for the price of my new Tesla going up?

 

[kashurst]

well to get where I am now it involved going from 1 person in IT (me) to employing 50 in IT with the majority of those their first jobs out of uni. And generally working from 7 in the morning to 11 at night on an e-commerce website. Admittedly I would stop for dinner but not usually lunch.

I used to be the same - never stopped. Then turned 47 and had a bit of a turn. Nearly didn't get to 48.
Stop for lunch, go for a walk, take a holiday. Get your blood pressure checked. You can't spend it if you are in a box. Promote a few people and build a team you can rely on.

 

[Alicatt]

I used to be the same - never stopped. Then turned 47 and had a bit of a turn. Nearly didn't get to 48.
Stop for lunch, go for a walk, take a holiday. Get your blood pressure checked. You can't spend it if you are in a box. Promote a few people and build a team you can rely on.

I was 49, brother had just succumbed to cancer, sod it, life is too short.
took early retirement at 50 and a new wife at 59

 

[TonyR123]

I used to be the same - never stopped. Then turned 47 and had a bit of a turn. Nearly didn't get to 48.
Stop for lunch, go for a walk, take a holiday. Get your blood pressure checked. You can't spend it if you are in a box. Promote a few people and build a team you can rely on.

don’t worry. I stopped at 46.

 

[Bouba]

don’t worry. I stopped at 46.

Stopped working or stopped aging ??‍

 

[TonyR123]

Stopped working or stopped aging ??‍

if only it was possible to do both.

 

[Bouba]

if only it was possible to do both.

I told people I was 29 for fifteen years (luckily I could get away with it ?)

 

[julians]

I told people I was 29 for fifteen years (luckily I could get away with it ?)

Was that when you were really 18?

 

[SwedeSkipper]

Perhaps this is just an attempt to introduce some financial discipline and correct pricing into an industry that seems to have been loss-making for most of the last 10-15 years.

Whether you look at the big UK builders or their Italian equivalents, many have undergone some form of financial crisis and change of ownership during this period. It's easy to blame the temporary drop in volumes as a result of the financial crisis, but the reality is that most of these builders were in financial difficulty or on the way towards it well before this. New owners arriving from outside the marine industry have changed management, introduced more rigorous financial discipline and attempted to turn their loss-making trophy assets into profitable (or at least breakeven) businesses capable of servicing some of the acquisition debt. This has been done partly through manufacturing lead improvements, but also an attempt to raise prices to what the financial people consider to be more realistic levels.

It's also worth mentioning that today's boats are very different to those built 10-15 years ago. Increasingly complex household and domestic systems, the introduction of more sophisticated and expensive styling and finishes (not necessarily an improvement and not to everyone's taste, I know) and the inclusion of stabilisers, etc., all now expected by buyers, have a big impact on manufacturing cost. The interior of the average 40-60 foot boat is now finished more like an expensive luxury apartment than a boat and extensive carbon fibre, sliding roof, raising/lowering doors, stabilisers, etc. are all considered to be "standard" equipment.

Also, don't forget that the advertised price for a new boat is just the starting point in a discussion that usually results in a very heavy discount to the list price.

If you take a look at the publicly available financial statements of the UK and Italian builders, their profit margins while better than before are still fairly anaemic by the standards usually expected in a bespoke manufacturing business.

I bought a 10 year old Princess V58 - great boat and not much depreciated when I sold it 5 or 6 years later. I got tired of all systems failing and v high maintenance costs. Bought a newer but used V39 (2016). Giant step up in quality in all fittings and interior. However, I feel it is too small and want bigger boat. Maybe used, maybe new, which takes me to my question: What is the typical discount vs list price on a new boat?

 

[lynallbel]

No never said that but I think it is correct to say that all right thinking people know that wealth distribution in the world is all to cock.

It is also quite interesting to remember that the bigger the boat you sit on drinking on the back with a ridiculously large flower display on the table the more you are hated by most who see you. Always makes me smile

I would think to myself they have done well lucky bar stewards.
I am not sure why any raitonal person would hate someone who has something they did not have?

 

[Bigplumbs]

I would think to myself they have done well lucky bar stewards.
I am not sure why any raitonal person would hate someone who has something they did not have?

What about Philip green

 

[Mr Googler]

What about Philip green

At least he only has one boat ??

 

[Bigplumbs]

At least he only has one boat ??

You don’t know what a boat is. What about the little ones sitting on the big one

 

[Mr Googler]

You don’t know what a boat is. What about the little ones sitting on the big one

Stop taking yourself so seriously! I’m certainly not. You are not the moral compass of the forum. I respect your views, as I hope you do mine. Doesn’t mean either of us are right ?

 

[ari]

What is the typical discount vs list price on a new boat?

I think the question currently regarding new boats is actually 'what is the typical waiting list on a new boat'?

If anyone's offering discounts in the current climate, there's probably a very good reason...

Whether it continues this way is anyone's guess, but I suppose it depends how long you're prepared to wait and see before you join the queue to wait.