On 23 Feb 2007 01:12:09 -0800, "Chuck Gould"
wrote:

In the end, the money aspect has less to do with a decision to refit
vs replace than the personal circumstances of the owners and their
affection (or lack of) for the boat in question. A lot of the money
spent on cosmetic and even mechanical upgrades simply dissolves- but
then so does a major portion of the price of a new boat with first
year depreciation and the very high cost of initial commissioning.

A lot of key points in one paragraph.

My upgrade rationale/criteria is somewhat similar:

1. Do you *really* like the boat?

2. Is the design more or less timeless, or is it beginning to look
dated?

3. Does it have any major flaws that would be very expensive or
nearly impossible to fix?

4. Will the upgrade money be more than the market value of the boat
when you are finished?

5. Will the boat still suit your needs over the life of the upgrades?