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Old 12-29-2010, 07:05 AM   #1
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Updated Boating Costs - December 2010

Most of us watch the rising costs of fuel and wonder where it will end. I could get into the politics of why they are high, but I'll leave that for another blog. In my business, I watch it more from a boating perspective. How will it affect my business? Will it deter used boat shoppers and affect the boating lifestyle in general?

I still have many buyers*shopping for boats; most of them are going to buy when they find the right boat. So for you shoppers out there, here is the scoop on recent boating costs.
Fuel costs are the least of the concerns you should have. Unless you are a charter boat fishing guide, you will not use a lot of fuel. The majority of boaters put less than 100 hours a year on their used boats; I am no different with the Patricia Ann, I put only 50 hours on her last year. Using 50 hours as a rule, I burned only about $1600.00 worth of diesel*last year. But that was money well spent as cruising is our passion that gives Mary and I a lot of pleasure. Of course trawlers*and sailboats*get the best fuel economy, but what if you like motoryachts or a nice offshore fishing boat? Once again, the time you'll be cruising at 22 knots will be low compared to the time you'll be idling, trolling or at the dock. And you can always operate that motor yacht at trawler speeds to save fuel. Remember the trip I took last*year on the 36 motor yacht from St. Petersburg, FL to Ft. Lauderdale? We only burned $1,400.00 in diesel and that was in rough seas. As an owner, it's doubtful that you'd make that trip often.

Dockage will likely be the most expensive of your costs. Of course, it depends upon where you keep your boat as to the prices. Here in Florida the costs can be extreme. In Ft. Lauderdale, to dock the Patricia Ann at one of the upscale marinas would costs me $2400.00 a month or $28,000.00 a year. OUCH! In north Florida, my dockage is only $525.00 a month or $6,300.00 annually. I can take you to a nice marina in Georgia that would cost us only $280.00 monthly or $3,360.00 a year. So it just depends on where you are. If you can pick up a mooring ball, your costs will plummet to a few dollars a day; if you can anchor out, it's FREE.
Insurance can be a costly package. As a full-time Florida resident, my boat insurance is very high due to hurricane threats. I pay about $4,500.00 annually. Obtaining insurance coverage in Dade and Broward counties is almost non-existent I am told. A new customer of mine has obtained coverage of his new trawler for about half of that but he must remain out of Florida from June 1 to November 30 (hurricane season). His cost will be about $2,300.00 a year.
Maintenance costs are always there, regardless of the age of the boat. My annual maintenance costs hovers around $3,500.00 annually. If you can perform the majority of the maintenance yourself it will be manageable. Remember, you have diving costs to scrape the running gear and replace zincs, oil changes, water pump replacement now and then, new hoses sometimes, and consumables such as varnish*and paint. There are those issues that will come up like replacing canvas or blister repair that will be expensive but are done infrequently. If you stay on top of things, maintenance is just that - preventative!

And lastly, you may have a ship's mortgage as well. There are some very good rates out there right now. I have three mortgage brokers that can shop your loan to many different companies. If your credit is good, you'll get good financing. This cost will be near the bottom of your boat costs. Obviously, I cannot predict what that cost will be for you.

Well there you have it I think. I had a good conversation with a buyer this week and we talked about this very subject. We both agreed that boating is more than a passion; it should be classified as a sickness. Yes, we*boaters have it in our blood and a rise in fuel prices will not likely deter us; we will just eliminate something else to compensate.


-- Edited by Baker on Saturday 1st of January 2011 10:40:30 AM
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Old 12-29-2010, 08:22 AM   #2
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RE: Updated Boating Costs - December 2010

the best part about forums is the ability to actively and actually participate and enjoy conversation and mutually learn, not cut/paste material designed as marketing material.
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Old 12-29-2010, 10:18 AM   #3
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RE: Updated Boating Costs - December 2010

But that's what Marine trader is all about.

No participation just posts.

SD
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Old 12-29-2010, 11:00 AM   #4
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RE: Updated Boating Costs - December 2010

*As a prospective buyer, any good info like this goes into the "knowledge is power" folder.* Just*out of curiosity,*did the buyer you spoke with this week already buy or was getting ready to (goes back to my "money matters" thread)?
I read in the news today that*a former president*of*Shell*Oil*is predicting $5 a gallon by 2012.**** KJ
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Old 12-29-2010, 02:30 PM   #5
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RE: Updated Boating Costs - December 2010

Mike,

We are docked in New Smyrna Beach, just a little North of you and our insurance is only $2k a year.* We don't live on board, but don't have to move the boat for storms and carry pretty hefty liability limits as well as full hull and comprehensive.* I won't list our carrier as I don't know if it is permitted in* the posting rules, but would be happy to respond to PM's if anyone needs it.* I am not affiliated in any way with the carrier, I found them by requesting quotes on the internet from Standard and Poor's A rated or better companies.* Diesel is high here though at the moment, oh well.
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Old 12-29-2010, 05:05 PM   #6
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RE: Updated Boating Costs - December 2010

I guess it'll fly if it helps somebody. Usually the spam filter catches posts like these but MT is getting pretty crafty. I try to keep this forum self governing and y'all do a heck of a job!!! Please PM me with your thoughts if you wish.
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Old 12-29-2010, 05:49 PM   #7
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RE: Updated Boating Costs - December 2010

hre in Vancouver, gas went past $5 a gallon a while back.
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Old 12-29-2010, 07:47 PM   #8
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RE: Updated Boating Costs - December 2010

Quote:
KJ wrote:

I read in the news today that*a former president*of*Shell*Oil*is predicting $5 a gallon by 2012.**** KJ
Oh that you be so lucky for diesel to only be $5 /gal by 2012 - here in Oz we are already at $1.45/litre, 1 gal US = 4 litres I think (1gal = 4.5 litres in Europe) - go figure....

*
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Old 12-29-2010, 07:50 PM   #9
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RE: Updated Boating Costs - December 2010

Quote:
koliver wrote:

hre in Vancouver, gas went past $5 a gallon a while back.
Damn that SUCKS!

$ 3.15 in Port Townsend now

Somewhere SOMEBODY is making a small fortune

I never buy fuel in B.C. when we go north...

beer is a different matter!

HOLLYWOOD
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Old 12-29-2010, 08:47 PM   #10
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RE: Updated Boating Costs - December 2010

Quote:
hollywood8118 wrote:Somewhere SOMEBODY is making a small fortune


I never buy fuel in B.C. when we go north...

beer is a different matter!

HOLLYWOOD
I think that would be a large fortune!
That's for the oil producing countries.

To make a large fortune in the US today, you need to start with a large fortune!

*
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Old 12-29-2010, 09:14 PM   #11
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RE: Updated Boating Costs - December 2010

Quote:
Moonstruck wrote:

*

To make a large fortune in the US today, you need to start with a large fortune!

*

*

Sad but mostly true these days it seems!

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Old 12-29-2010, 09:47 PM   #12
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RE: Updated Boating Costs - December 2010

So fuel prices are rising again. I just wish the complete NN3 system, diesel heater, bow thruster, covered fly bridge, new exhaust elbows*etc I've blown money on were as cheap as fuel!
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Old 12-29-2010, 10:09 PM   #13
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RE: Updated Boating Costs - December 2010

Hollywood


"Damn that SUCKS!

$ 3.15 in Port Townsend now

Somewhere SOMEBODY is making a small fortune

I never buy fuel in B.C. when we go north"

It's worth keeping mind that the Canadian gallon is 20% bigger than the US gallon. So that $5 per gallon in Vancouver is really $4 for a US gallon. Still more than PT but not as huge a diff.

Roger
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Old 12-30-2010, 07:22 AM   #14
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RE: Updated Boating Costs - December 2010

Roger,

Everytime I have purchased fuel (diesel) in British Columbia it has been in liters not UK gallons. Right now diesel is selling for $1.17/liter in BC. One US gallon is 3.8 liters so $1.17 X 3.8 = $4.46/US gallon. The Canadian dollar is almost at par with the US dollar ($US1 = $Cdn1.00038).
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Old 12-30-2010, 09:11 AM   #15
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RE: Updated Boating Costs - December 2010

@ 1.17/l, 1 gal(Cdn) = $5.31
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Old 12-30-2010, 10:21 AM   #16
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RE: Updated Boating Costs - December 2010

~10.35 pesos/liter* or about $3.20/gallon US

Larry/Lena
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Old 12-30-2010, 10:22 AM   #17
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RE: Updated Boating Costs - December 2010

Koliver,

I think Steppen's got you on this one. 3.8 l to the US gallon. ($4.45)

John,
Do you want our comments about MT here or elsewhere?
Hollywood,
"To make a large fortune in the US today, you need to start with a large fortune!"
I think Gates and Zukerburg started from basically nothing or am I wrong? Obama was poor and from a single parent and he's worth a few bucks. There's lots of folks quite rich now in this "recessed" country that are think'in**** what recession? Tony says "Sad but mostly true these days it seems!". But if you take out the word "mostly" it's flat bass wrong.
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Old 12-30-2010, 11:53 AM   #18
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RE: Updated Boating Costs - December 2010

Quote:
nomadwilly wrote:I think Gates and Zukerburg started from basically nothing or am I wrong?
Bill Gates, Jr.'s family is extremely wealthy and was before he went to college.* Even if he and Paul Allen had not started Microsoft, Bill would not have had any money worries for the rest of his life.* His father, Bill Gates, Sr. is in the legal profession and is a multi-millionaire.

*
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Old 12-30-2010, 11:58 AM   #19
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RE: Updated Boating Costs - December 2010

Quote:
Mappy wrote:

It's worth keeping mind that the Canadian gallon is 20% bigger than the US gallon.
Canada has not used the Imperial gallon for many, many years now.* Fuel is sold in Canada by the liter, same as it is today in the UK.* Interestingly, while both Canada and th UK have adopted the metric system, some things in the UK are still measured the "old way."* Road distances, for example, in the UK are still measured in yards and miles.* Speeds are still measured in miles per hour.* The UK still uses inches and feet to measure things and on map scales.* Weights are often still measured in ounces and pounds, and you still today hear people describing their weight in stones.

*
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Old 12-30-2010, 12:08 PM   #20
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RE: Updated Boating Costs - December 2010

Quote:
*you still today hear people describing their weight in stones.



*
So how much does a stone weigh?

sort of like how long is a piece of rope?

By the way a piece of rope is half as long as twice it's length.

SD*
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