What's your ownership style?

If you are a frequent trader who will be looking for another boat
within a couple of years, you will indeed
take a good whack from depreciation when you trade up. Maybe 20-30%,
and could be more. That makes a new boat very expensive on an "avg cost
per month of ownership basis".

However, if you plan to hang onto the boat for many years depreciation
needn't be such a critical concern.
Starting with a new boat allows you to avoid wondering what dirty
little secrets the previous owner
glossed over or concealed, and you will know from day one exactly what
type of maintenance the boat receives. Once you iron out the few almost
inevitable
new boat warranty bugs, you can expect perhaps a few years or so of a
blissful time where almost everything is almost always working. That's
about as good as it gets in the real world for most boats.

Owning a boat makes no economic sense whatsoever, whether it is new or
used, unless you somehow use to to earn a living.

If this Bayliner 225 is really the boat of your dreams and there is
nothing similar available used, I'd personally advise against buying a
used boat that you don't like nearly as well simply because it is
already partially worn-out (and depreciated).

Then there's the SO factor. The "Significant Other". Very important.
When we bought our present boat in the early 90's, we made the choice
we did because it was among the top 3 prospects on my list (1st, 2nd,
and 3rd place seemed to vary depending on daily mood and it was a close
contest), but it was clearly NUMERO UNO with the wife. Happy wife
makes a happy boat. After all these years I'm still very pleased with
our boat and have saved more than we paid for it by not repurchasing
another boat every 2-3 years like so many people seem to do. Turns out
my wife was pretty smart about picking boats- (too bad about her luck
with husbands!)

It may make less economic sense to buy new than used, but in a
transaction where "economic sense" is never a factor under any
circumstance, who cares?