* Bob wrote, On 3/7/2007 1:44 AM:
On Mar 6, 6:11 pm, Jeff wrote:
* Paul Cassel wrote, On 3/6/2007 8:36 PM:

Jeff wrote:
Their current boat is a 41 foot glass boat, which they bought pretty
cheap but has probably gone up in value with all the work that's gone
into it.

That'll be the day.

Agreed!

There are lots of cases of boats given a lot of TLC going up in value.
Its not likely to happen with me, but it does with a few. What's
not clear is whether you actually "earn" at a reasonable rate while
working on your own boat.


Any hidden, I mean not considered, costs?

Sure plenty, but that wasn't really the point.


My last boat I sold for about 2% less than I paid for it 8 years
earlier. Had I been willing to hold out, I probably could have made a
profit,

Lets see, just looking at inflation at 3% per year...... x 8 years =
24%

Again, not the point. The point is that with virtually no hull work,
and a little bit of engine work I was able to continue using the boat,
and then sell it for good money.

Looks like you lost 22% of your original "investment" just in
inflation. Now add ANY yard bill and that Christmas gift for the boat.
And your time is billed at $65/hour? Oh, I forgot, youre time is
worthless cause working on a boat is a labor of love........... Trust
me I would much rather be drinking a beer, sailing, or boning the guys
girlfriend two sllips down than adding more toxic chemicals to my
body.

Unfortunately, I can't afford to own a cruising boat unless I do the
bulk of the work. It was a bit different before I retired, but its
been six years since anyone else has done any work on her. This
Spring I'll have someone do the SailDrive seals because my yard won't
let me do that, and in the Fall I'll have a rigger pull the mast, but
that should do it for a few more years.

However, doing the bottom on my boat is a few hours of prep and a few
hours of nasty work. And I can skip a year every now and then. Even
If I had to pay, it wouldn't be that much money. Dealing with the
bottom of a wooden boat would be a lot more expensive, and woe be to
the poor soul that tries to skimp.


Love is blind.......... and so are boat owners. espeically the ones
with a dream.

There's no doubt that there are a lot of hidden costs that make a boat
a bad investment, compared to real estate. The point, however, is
that with a glass boat a minimal amount of care will keep the boat
viable and it becomes reasonable to spend money on improvements, etc.
With a wooden boat, a year or two of neglect, even unintentional,
could mean the total loss of the investment. Live on a glass boat for
ten years and you could probably stay on it for another ten or you can
get some money out of it. Live on a wooden boat and you might find
yourself with nothing.