Great advice, John. We are also interested in hearing more about how you were able to avoid large depreciation losses on your past boats. I think every boat we've owned, we ended up selling for what we paid or a bit more, but they were all used, bought at a good price, and had a lot of work/upgrades done by us. While we didn't loose money on the purchase prices, there was a cost for the time, work, and parts that went into them. That said, it was all worth it as this is a lifestyle choice for us such that we are happy to put disposable income towards (as opposed to a large home, fancy cars, etc.).