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Old 09-18-2020, 04:59 PM   #41
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boat value

Quote:
Originally Posted by menzies View Post
A thought and a question. (And I will probably rewrite this a dozen times before I think I have got it across right!).

As you think about your boat, how do you value it in monetary terms?

I am not talking about the intangible value of the enjoyment, experiences and health values etc. you get from it (which I agree with). But hard cold cash value. And not from a stance as if you were listing her for sale.

When you consider your net worth do you add in what you think your boat is worth? While you love you boat, do you still see it has a dollar/pound/Euro value? You see it as part of your estate?

I kept the last three cars I had until they were only worthy of donating to the Salvation Army - including an aging Jaguar XJ8!
For some reason I don't view Sonas as an asset. My brain knows it has value, but my sense is if I use it for as long as I can and if it has no or minimum value at the end I won't care.

That's not to say I am not maintaining her "with an open check book," and my brain tells me that she is worth quite a lot, but for some reason I don't look at her as having current monetary value, or feel I ever will.

Anyone else?

Or a strange thought?
A good question, particularly for those of us who aren't spring chickens anymore.
I think an honest and valid approach to the position of your boat's value in your current portfolio, savings, investments etc is take the value listed on your most recent survey (if it's recent), and halve that. That's a pretty close figure to what your boat would bring in a quick sale for whatever reason. It does have value and is an asset; probably better than you think.
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Old 09-18-2020, 05:14 PM   #42
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Some brokers are willing to share actual selling prices for boats sold from Yachtworld listings. The "prices" shown on YW are really just suggestions, and generally those prices do not hold up well in the real world. You just need to read the many postings on this forum about getting the best price when buying a boat to know that it is generally a buyer's market and buyers always want a bargain. The problem is that what goes round, comes around. When you go to sell, the next buyer alo expects to drive a hard bargain.Getting actual selling prices (not listing prices) at least enables a seller to price to market. I would guess that comparable boats listed on YW generally sell for no more than 80% of original asking price. The you need to figure in the 10% brokers fee. So, if you plan to figure your boat into your net worth, best to think of a figure that averages YW prices for similar vessels, then reduce it by at least 30%. But of course if your boat is in an estate sale, you will not care that your executor is going to dump the boat at whatever price they can get quickly!!
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Old 09-18-2020, 05:31 PM   #43
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Quote:
Originally Posted by Ken E. View Post
A fair question. Rather than fair market value, how about how many trips to Alaska it will provide.....for you, maybe trips to the Bahamas. If you'd care to monetize that (I don't), what would bare boat charters cost you, denominated in months, to have these adventures? My goal is to use the boat so much that I've extracted most of its utility by the time I'm too old to use it. At that point, it doesn't owe me much. That's real value, to me.
Same here.
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Old 09-18-2020, 05:38 PM   #44
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My true dollar value is about 150k but that’s not how I value it. It is really 365k because that is what the boat would cost me if I was ever to upgrade.
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Old 09-18-2020, 05:55 PM   #45
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Quote:
Originally Posted by Ken E. View Post
A fair question. Rather than fair market value, how about how many trips to Alaska it will provide.....for you, maybe trips to the Bahamas. If you'd care to monetize that (I don't), what would bare boat charters cost you, denominated in months, to have these adventures? My goal is to use the boat so much that I've extracted most of its utility by the time I'm too old to use it. At that point, it doesn't owe me much. That's real value, to me.
As a full time cruiser living aboard full time for 4 years, ours owed us nothing in year 3 if taking into account cost of renting the dirt house equivalent.

Add in the trips and if we had to charter her equal probably paid for in month two.
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Old 09-18-2020, 08:05 PM   #46
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I’m going to answer from another point if view...

1977 Grand Banks 36 Classic
$ 83,500. (For sale)

Upgrades, fuel, maintenance, dockage, dinners, drinks, small gifts to friends made along the way as we travel the start of the loop.

$ 14, 400.00 (2+ years so far)

Total Value:

Priceless... the investment is small for the things we have done, the places we have seen so far, (with more to come) and the people we have met and become friends with. We could have taken 8-12 all inclusive vacations, and not had the memories we have to date. Plus we still have our boat, the investment that is our home. She can easily offer someone all these same experience.

That’s how we value the life style.
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Old 09-18-2020, 09:31 PM   #47
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When I talk myself into buying anything for my boat, including the boat, I use the term ‘dropped’ because in my mind once the money is spent it aint coming back. In the last 9 months I’ve probably dropped close to 50k on upgrades and additions. My boat is a part of the family.
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Old 09-18-2020, 11:04 PM   #48
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Like my home I do not consider the worth of my boat in terms of dollars.

It is something that has no value unless it gets sold, which is not happening.

Yes it is part of our net worth but we do not think about it (or our home) in that way.
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Old 09-20-2020, 03:35 PM   #49
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Quote:
Originally Posted by menzies View Post
A thought and a question. (And I will probably rewrite this a dozen times before I think I have got it across right!).

As you think about your boat, how do you value it in monetary terms?

I am not talking about the intangible value of the enjoyment, experiences and health values etc. you get from it (which I agree with). But hard cold cash value. And not from a stance as if you were listing her for sale.

When you consider your net worth do you add in what you think your boat is worth? While you love you boat, do you still see it has a dollar/pound/Euro value? You see it as part of your estate?

I kept the last three cars I had until they were only worthy of donating to the Salvation Army - including an aging Jaguar XJ8!
For some reason I don't view Sonas as an asset. My brain knows it has value, but my sense is if I use it for as long as I can and if it has no or minimum value at the end I won't care.

That's not to say I am not maintaining her "with an open check book," and my brain tells me that she is worth quite a lot, but for some reason I don't look at her as having current monetary value, or feel I ever will.

Anyone else?

Or a strange thought?
I have her on my Spreadsheet at Fair Market Value and a depreciation % yearly but she is definitely on the asset side of the net worth sheet
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Old 09-21-2020, 12:31 AM   #50
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Shine our Tolly up and with new bottom job = just about what we paid for her in 2008, maybe even a couple thou more. That is: Same basic # of dollars... of course minus depreciation in per dollar value.

We did get a smokin deal on her - 12 yrs. ago. Not that it matters... not selling her now anyway!
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Old 09-22-2020, 10:39 PM   #51
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Interesting concept. My logic - cars and boats are toys. Toys have value zero. They do not fall into our asset list. Now before anyone jumps on me, my boat, 31 year old trawler, and cars, 10 year old Lincoln, and 2 year old Escape are nothing special. They do have a value, but they are disposable and life would continue.
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Old 09-23-2020, 05:17 AM   #52
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For most of us, our boats have monetary value. If it sank, we'd want to replace it, so we insure it for xx value. We want the value out of it when we get out next boat. And some of us want the value out of it when we sell it to go back to a dirt home (God forbid!)



Boat's are not priceless, but they sure can bring priceless events and enjoyment, and yes, we get attached to them. Take care of them, feed them when they are hungry, heal them when they're sick, give them presents and improvements. And some of us even give them a hug.


Now, boats, cars houses and planes are NOT investments. They are expenses, unless they produce and income. I guess you could call the home you live in an investment, because it will most likely produce an income or make money over time... but we have to live somewhere, so we'll spend it (hopefully on a boat).



As for keeping a boat on the balance sheet, yes, I do that. Just for my own perspective and for my kid when I croak. No one elses business.


Now, when selling and we have to determine a value, I could make an argument to price it similar to others that are like yours and fix it up so it's better... or just price it a bit below and SELL it. When it's time to sell, SELL, do whatever it takes to make the sale fast. Time is money and the cost of ownership is money, and you don't want to have those hanging over your head when you want to get on with your next boat.
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