Dave, good point you made about depreciation and opportunity cost. They're
big elements in the cost of running a new vessel, and the reason why big
charter companies have 3 or 5 year 'yacht ownership schemes' - whereby Mr
Joe Soap owns the boat and takes the financial whack, while they only have
to contribute the running costs.

For a second hand vessel the depreciation element is smaller, and the cost
of commissioning can be lower - if it's inventory has been kept in good
shape. And that inventory of equipment (rigging, motor and all) will
represent about 30% of the value of the vessel . . . so checking it's status
is very important in the total purchase price, and the cost of that first
commissioning.

I bought a 40.6 ft boat in 1996; it was 8 years old, equipment rather run
down, but a quality hull and interior (Oyster). Price, £97,000 after
knocking off an obvious £10,000 for replacement kit. A further £10,000 spent
over the next two years catching up with items which were not detected on
purchase - so, £20,000 commissioning, bringing her up to scratch. Total cost
of purchase - £117,000.

From then on, living aboard 8 months a year and cruising very actively,
doing most labour myself, cost of running the boat (mooring, fuel, running
repairs to maintain value) in northern Europe averaged at £11,000 a year for
5 years, then £8,000 a year in the Mediterranean, average £10,000. (berthing
and hauling costs in the Med were much cheaper than UK)

I then sold the vessel for £97,000 - in good order. Depreciation = £2,000 a
year, then add inflation at 2.5% pa, = £3,000 a year, total depreciation
£5,000 pa. (Opportunity cost at 5%, £6,000 a year, not included.)

Total cost of running the boat without opportunity cost - £15,000 pa, say,
13% of the capital cost of buying and commissioning to my standard.

Just multiply by 2 for $ . . . and fiddle with the capital values a bit,
'cos Europe is an expensive place at the moment.

Where did we go? that's all on my website . . .

--
JimB
Google 'jimb sail' or go www.jimbaerselman.f2s.com
Compares Cruise areas of Europe
"

Roger Long wrote:
Paul Cassel" wrote
I'd like to see the listings of a boat, in good shape, at 10% of it's
original value. Yes, boat prices are down, but they aren't a dime on a
dollar - or I don't think so.

That's not exactly the comparison I'm making. I bought my 1980 32 foot boat
for 15 K. I see ads for new "daysailers" with some cruising accomodations
that are a bit smaller and have less of everything except cosmetic
appearance for a big chunk out of a million bucks. My annual expenses and
theirs will be a lot closer than the price difference.

I don't pay much attention to the new market. Can someone tell me what a
midrange quality 32 footer goes for today?

Latest CW has a 33 footer which it likes. Cost is about $140k stripped.
I'm guessing that stripped means it has reefer, hot / cold running /
pressure. Lacking only instruments and electronics. That's a guess.

I'd guess, based on my last boating experience (lived aboard until 2004)
that this would cost maybe $50k for an equivalent boat in fine shape
with these features. That's a lot more than the 10% you mentioned.

Now sure, you can get a decent boat such as a Cape Dory or Pearson in
about a 32' length for much less than $50k but it won't be in as good a
shape nor will it have modern features like the $140k boat in CW. My
first boat, which I mostly built and lived on for 6 years, didn't have a
reefer, or pressure or hot water. Somehow we managed to survive, but
times have changed. We also had NO radio or other electronics - even
VHF. We didn't miss it, but I can't see cruising around today w/o that.

-paul

On Jan 12, 12:12 am, ray lunder wrote:
I've only owned small sailboats before but now,.. I'm looking at a
pretty good deal on a 41 footer that needs some work. Can anyone
comment on the less obvious costs of owning a boat this size? I do
most repairs myself on smaller boats. Thanks as always.

I'll give a bit of the "other side", since I feel my 36ft Catalina was
pretty economical.

Over 17 years, I did a number of replacements and upgrades, including
fridge, giant holding tank, electronics, sails, engine, roller-
furling... and let a few things "slide", like the upholstery. I'd say
the replacements and upgrades cost maybe $25K (including the new
engine). Spread over 17 years, that's about $1.5K/yr. I budgeted about
$600/yr (ok, make it $1K) for "normal maintenance" like annual
haulout, bottom paint, filters, fuel, etc. I bought her for $55K and
sold for $47K, so that's $8K depreciation.

Moorage is another story. Until the last few years, it was $2.5 - $3K /
yr. Last 3 years it jumped to over $4K (one reason I downsized!).

So what's that all add up to... (where's my calculator?) About $7K/yr
for everything. Not too bad, I'd say... (and you could get away with
less if you found cheaper moorage and didn't replace the engine!)

I'm guessing my Crown 28 will cost more like $4 -$6K/yr, depending on
whether I replace the engine.

druid
http://www.bcboatnet.org