Art, you have just explained why the affordable boats are the used boats from the 70s and 80s. They can be brought back into service for a fraction of the cost of new. Until we get other methods of construction it will be difficult to bring a good, economical boat to market.
Fellow I know purchased a latter 70's Tollycraft 34' tri cabin... for a song! Why price so low... it needed attention on several levels. PO was getting old, just could not be bothered.
This fellow had his "soon to be like new" Tolly tc repowered with twin diesels, new fuel system (tanks inc), new batts and elect system , rebuilt gen set, restored gel coat (painted where required), refurbished/improved the interior, new steering, new props, bottom paint, new canvas, new electronics... etc - -
Then Splash! He had a structurally superior, virtually
NEW boat that was built some 36 years ago.
His cost was under $130K... out the door, in the water, cruising/hooking to his heart's delight!
To purchase 2015 boat of same quality/size was estimated by surveyor at near $500K replacement cost. That means he got basically same quality (maybe better structural quality) boat for about 25% the cost of a brand new one. Market value depreciation on his expensive refurbishment will be immediate and steep, but, depreciation on the $500K brand new boat is also quickly steep... that depreciation cost on the new boat would in near years eclipse his total cost for restoration of good quality old boat. His depreciation will eventually level off at some 50% to 60% of the $130K expense. The new boat will not too distant future loose same %age or more. Difference in total dollar loss: Rebuilt Tolly = $70K +/- Brand New Boat = $275K +/-. Difference in boating enjoyment = NONE!
Reason that is possible: Boat builders that were really good at performing high quality build-outs (Tollycraft, Hatteras, Chris Craft., Uniflite - to name a few) built boats by the many, many thousands. Depreciation in their dollar value eventually sank to ground level - but - due to the extraordinary build quality many of these old boats can be re vitalized at a fraction of the cost for new. And, many of these "classic" boats have actually been well maintained by their PO's so they need little to no restoration... simply purchase, do minor improvements, get in, start up - - > CRUISE and HOOK!
How this way out of proportion classic old boat cost compared to new boat cost becomes rectified will simply take time for used-boat-disposal attrition to take affect -
much time! Cause - there are simply too may thousands of good old tubs available for rock bottom purchase prices and the new tubs will always cost a fortune to build.