Reply
 
Thread Tools Search this Thread Display Modes
 
Old 02-06-2018, 02:57 PM   #1
Member
 
City: Fort pierce, fl
Country: Usa
Join Date: Feb 2018
Posts: 10
Annual costs...

Am considering the purchase of a Grand Banks 50’ ish trawler. I can afford to purchase without debt...Boat is older but refurbished recently and immaculate....I plan to run the Carribean with south Florida as a base....can anyone throw some numbers out about what it will cost to keep the beast alive annually... have been boating all my life but nothing that I could live aboard.. but I have been in the RV scene for years...so I am not naive to “holy crap” that was expensive....thanx for your time and consideration to this matter!!!
__________________
Advertisement

Vecuronium is offline   Reply With Quote
Old 02-06-2018, 03:03 PM   #2
Guru
 
Simi 60's Avatar
 
City: Queensland
Country: Australia
Vessel Model: Milkraft 60 converted timber trawler
Join Date: Jul 2016
Posts: 2,194
Hi first poster
Might as well ask how long is a piece of string.
Far to many variables.
__________________

Simi 60 is offline   Reply With Quote
Old 02-06-2018, 03:10 PM   #3
TF Site Team
 
Larry M's Avatar
 
City: JAX, FL
Country: USA
Vessel Name: Hobo
Vessel Model: Krogen 42-120
Join Date: Nov 2008
Posts: 7,898
Insurance may run ~$2500-$4000 per year. Maybe more based on your experience and where she is during hurricane season. A slip in South Florida can run $1500-$2000 a month or more. Fuel $2-$3/mile if you’re going slow. A lot of variables and you haven’t fixed anything yet.
Larry M is online now   Reply With Quote
Old 02-06-2018, 03:14 PM   #4
Member
 
City: Fort pierce, fl
Country: Usa
Join Date: Feb 2018
Posts: 10
Keep the news coming... much like the RV world. $ can be highly variable... just trying to wrap my head around the dent in my retirement fund to expect...nothing that I haven’t expected so far...
Vecuronium is offline   Reply With Quote
Old 02-06-2018, 03:58 PM   #5
Guru
 
O C Diver's Avatar
 
City: Fort Myers, FL... Summers in Crisfield, MD
Country: USA
Vessel Name: Slow Hand
Vessel Model: Cherubini Independence 45
Join Date: Dec 2010
Posts: 7,592
A lot will depend on how much you can do yourself.
Are you scrubbing your boat bottom monthly, or paying?
Are you doing oil changes and normal annual service or paying?
Wash and wax?
When you haulout, the DIY (do it yourself) or $100+ per hour boatyard?

Ted
__________________
Blog: mvslowhand.com
I'm tired of fast moves, I've got a slow groove, on my mind.....
I want to spend some time, Not come and go in a heated rush.....
"Slow Hand" by The Pointer Sisters
O C Diver is offline   Reply With Quote
Old 02-06-2018, 04:02 PM   #6
Senior Member
 
City: Florida
Country: United States
Vessel Model: 420AC Sea Ray
Join Date: Oct 2016
Posts: 349
I had always heard that you will pay approximately 10% of the boat value per year in expenses.

I did not believe this but looking back on my year over year expenses with me doing a majority of the work this is a pretty good number.

This includes dockage, and insurance in the calculation.
k9medic is offline   Reply With Quote
Old 02-06-2018, 04:23 PM   #7
Member
 
City: Fort pierce, fl
Country: Usa
Join Date: Feb 2018
Posts: 10
Quote:
Originally Posted by O C Diver View Post
A lot will depend on how much you can do yourself.
Are you scrubbing your boat bottom monthly, or paying?
Are you doing oil changes and normal annual service or paying?
Wash and wax?
When you haulout, the DIY (do it yourself) or $100+ per hour boatyard?

Ted
As a former marine mechanic... I certainly am capable of the many day to day fixes.... but I do not plan on carrying every tool known to man or monkey...so the answer to your question will vary depending on the situation...if I’m at a yard in fort pierce Fl... big jobs and annual maintenance... haul outs/ bottom cleaning prolly hired guns... I am a diver too so regular scrub downs on me...if I’m broke down in Turks....well it will be whatever it takes to get rolling again...
Vecuronium is offline   Reply With Quote
Old 02-06-2018, 04:24 PM   #8
Member
 
City: Fort pierce, fl
Country: Usa
Join Date: Feb 2018
Posts: 10
Ty K9...
Vecuronium is offline   Reply With Quote
Old 02-06-2018, 04:57 PM   #9
Guru
 
Giggitoni's Avatar
 
City: Vallejo, California
Country: United States
Vessel Name: Mahalo Moi
Vessel Model: 1986 Grand Banks 42 Classic
Join Date: Jun 2008
Posts: 1,764
Quote:
Originally Posted by k9medic View Post
I had always heard that you will pay approximately 10% of the boat value per year in expenses.

I did not believe this but looking back on my year over year expenses with me doing a majority of the work this is a pretty good number.

This includes dockage, and insurance in the calculation.
This ^! I didn't want to believe 10%. However, after replacing my fuel tanks a while back (GB-42), I became a believer!

Good luck.
__________________
Ray
"Mahalo Moi"
1986 GB-42 Classic
ΜΟΛΩΝ ΛΑβΕ
Giggitoni is offline   Reply With Quote
Old 02-06-2018, 05:05 PM   #10
Senior Member
 
City: Washington
Country: US
Join Date: Nov 2017
Posts: 467
Start with constants; dockage, insurance and depreciation. Now add what you'll spend on fuel and transient dockage and regular maintenance (oil, filters, etc.). From there you'll just have to guess at repairs.
aboatman is offline   Reply With Quote
Old 02-06-2018, 05:08 PM   #11
Guru
 
Simi 60's Avatar
 
City: Queensland
Country: Australia
Vessel Model: Milkraft 60 converted timber trawler
Join Date: Jul 2016
Posts: 2,194
Quote:
Originally Posted by Giggitoni View Post
This ^! I didn't want to believe 10%. However, after replacing my fuel tanks a while back (GB-42), I became a believer!

Good luck.
Yeah but that's a one off.
Simi 60 is offline   Reply With Quote
Old 02-06-2018, 05:12 PM   #12
Guru
 
Tom.B's Avatar
 
City: Cary, NC
Country: USA
Vessel Name: Skinny Dippin'
Vessel Model: Navigator 4200 Classic
Join Date: Jul 2009
Posts: 5,702
The real variable is how well the previous owner(s) cared for it.
__________________
2000 Navigator 4200 Classic
(NOT a trawler)
Tom.B is offline   Reply With Quote
Old 02-06-2018, 05:12 PM   #13
Guru
 
Simi 60's Avatar
 
City: Queensland
Country: Australia
Vessel Model: Milkraft 60 converted timber trawler
Join Date: Jul 2016
Posts: 2,194
10% is a fallacy IMHO.

A 55fter for $100k is $10k/year
A 55 fter for $2,500,000 is $250,000/year? Really?.......REALLY?

Get our boat maintained in Australia @ $100/hr
Get our boat maintained in Thailand @ $25/DAY
10% blown out of the water
Simi 60 is offline   Reply With Quote
Old 02-06-2018, 05:17 PM   #14
Veteran Member
 
Tamrow's Avatar
 
City: New Haven
Country: USA
Vessel Name: Chesapeake
Vessel Model: Mainship 30 Pilot II
Join Date: Jan 2016
Posts: 91
I have been enjoying "Trying Not To Sink" videos on YouTube for a while. They have a Hatteras 58MY and produced this video named "Cost to purchase and operate a 65 foot yacht" Though its a bit bigger than you are contemplating I think you may find it informative...
Tamrow is offline   Reply With Quote
Old 02-06-2018, 05:26 PM   #15
Guru
 
BruceK's Avatar
 
Join Date: Oct 2011
Posts: 9,969
Is the older immaculate refurbished GB 50ish wood or fiberglass? That could be a factor.
__________________
BruceK
Island Gypsy 36 Europa "Doriana"
Sydney Australia
BruceK is offline   Reply With Quote
Old 02-06-2018, 05:27 PM   #16
TF Site Team
 
Larry M's Avatar
 
City: JAX, FL
Country: USA
Vessel Name: Hobo
Vessel Model: Krogen 42-120
Join Date: Nov 2008
Posts: 7,898
Quote:
Originally Posted by Tom.B View Post
The real variable is how well the previous owner(s) cared for it.
And how long you expect to hold onto the boat. A few years you may get away with deferred maintance but .... At the end of the day you own a depreciating asset.
Larry M is online now   Reply With Quote
Old 02-06-2018, 05:36 PM   #17
Enigma
 
RT Firefly's Avatar
 
City: Slicker?
Country: Bumpkin?
Join Date: Oct 2007
Posts: 12,722
Greetings,
Mr. V. Welcome aboard. Good advice thus far.

Finding a nice little corner of paradise and sitting there for a month or two will probably be less $$ than cruising thither and yon. You still have to eat so that is pretty well fixed also. More cruising=more fuel and maintenance. More sitting=more dockage fees.

In the end, ANY formal calculations are guesses, at best. You can add, subtract and cypher to your heart's content but the bottom line is, are you having fun?

__________________
RTF
RT Firefly is offline   Reply With Quote
Old 02-06-2018, 06:05 PM   #18
Guru
 
Giggitoni's Avatar
 
City: Vallejo, California
Country: United States
Vessel Name: Mahalo Moi
Vessel Model: 1986 Grand Banks 42 Classic
Join Date: Jun 2008
Posts: 1,764
Quote:
Originally Posted by Simi 60 View Post
10% is a fallacy IMHO.

A 55fter for $100k is $10k/year
A 55 fter for $2,500,000 is $250,000/year? Really?.......REALLY?

Get our boat maintained in Australia @ $100/hr
Get our boat maintained in Thailand @ $25/DAY
10% blown out of the water
Good for you. I don't think I'll find a $25 per day tech around where I live. Tamrow's video presents a couple that plan to spend about 19% to 24% per year of the original cost of their boat. Pretty well thought out, I might add. After about ten years of ownership of our GB42, 10%, perhaps even as high as 15%, is about right on. I might go through several years of minimal cost, then have to replace my teak deck or rebuild an engine...or... I'll stick with an estimate of 10% per year of the cost of the boat.
__________________
Ray
"Mahalo Moi"
1986 GB-42 Classic
ΜΟΛΩΝ ΛΑβΕ
Giggitoni is offline   Reply With Quote
Old 02-06-2018, 06:42 PM   #19
Senior Member
 
City: Florida
Country: United States
Vessel Model: 420AC Sea Ray
Join Date: Oct 2016
Posts: 349
Quote:
Originally Posted by Simi 60 View Post
10% is a fallacy IMHO.

A 55fter for $100k is $10k/year
A 55 fter for $2,500,000 is $250,000/year? Really?.......REALLY?

Get our boat maintained in Australia @ $100/hr
Get our boat maintained in Thailand @ $25/DAY
10% blown out of the water

I guess it depends on your location then.

I'm in Florida as is the OP. I bought my boat for $130K so using 10% I'm at 13,000/ year. I do most of my own work.

Here is 2017 - $12,100
Dock rent just shy of $600/ month = $7200
Insurance = $2400
New A/C = $2000
New intake hoses = $500

For 2018 so far - $14,400
Dock rent didn't change = $7200
New backend for generator = $3000
Insurance = $2700 (thanks hurricanes)
Pending bottom job (DIY) = $1500
k9medic is offline   Reply With Quote
Old 02-06-2018, 06:48 PM   #20
Guru
 
Simi 60's Avatar
 
City: Queensland
Country: Australia
Vessel Model: Milkraft 60 converted timber trawler
Join Date: Jul 2016
Posts: 2,194
Quote:
Originally Posted by k9medic View Post
I guess it depends on your location then.
And reality/maths.

Like I pointed out, do you really think people with, for example, a Fleming 55 spend 10% or
$250,000 a year on maintenance?
__________________

Simi 60 is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off





All times are GMT -5. The time now is 05:19 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2006 - 2012
×