Boats and depreciation......

[Damned67]

Hi All,
Was discussing the 'value' of my boat recently, and looking for some opinions.
4.2m aluminium boat/engine/trailer was bought NEW 12 months ago, and with $750 of electronics ($1500, but I scored them at a half price sale), the total was less that $9500.
Main reason I gave prices is that depreciation may differ depending on original purchase price of boat?

What would one consider the likely depreciation to be after the first year? 20%, 30%? less? more?

[PADDLES]

in general i reckon you're pretty close with somewhere between 20-30% but "fishing" style boats tend to hold better value than "cruising" types and demand for good tinnies is usually pretty good

[BGG]

I sold a Poly a while back. Bought it new two and a half years ago and got back exactly what I paid for it. I was very surprised but very happy.

[Noelm]

one thing to look at is, sometimes regardless of how much you spent on extras, or how good the electronics may be, a certain model in good condition is worth $xx and just because it has (say) 5 grands worth of extras, it may be worth no more at all than the basic one, or at best maybe a couple of hundred, happens just the same in the car industry, and indeed some boats are sold second hand for their original new price, but it is not norm, a Seafarer Viking from the early 80's was about 8 grand new, you would more then likely still get that for a well looked after one now (and maybe more) it depends on how many are for sale, how many where ever sold, and was it any good and desirable when it was new, plenty of factors influence second hand prices.

[bennyboy]

Your pretty close to the mark with little tinnies, about 20% after the first year.

This would be the sell price not what someone would give you for a trade in.

I don't think the price would change much over the next 2 to 3 years though as
boats would increase in price by about 5% each year a $8k boat now would be $9200 in 3 years. Paying $6400 ($8000 - 20%) for what would cost you $9200 to buy new would be a fair price I think

Electronics though are a different story. If you spend $1500 you might get $200 extra, or if you pull them out and leave the boat looking like a dogs breakfast you will lose alot more off the value of the boat

[Alchemy]

I sold a 2001 Quintrex 600 Offshore (wot a joke of a name for one of these) in 2004, 3.5 years old with 200 hrs on it. I got $1000 less than what I paid when it was new. The things I lost out on were a rocket launcher and GPS/sounder.

I've just sold my 2004 Fisher 660 Maxi. I had her for just over 5 years, and put 500 hours on her. Similar story. Lost out on sounder/GPS, plus storm covers but sold her for the exact amount I paid for her 5 years ago.

Depreciation??? Apart from the running and up-keep costs, my boating has been a relatively cheap affair :D What has worked in my favour has been the ever increasing cost to buy a new boat, therefore the scond hand ones have held value. Down side is that each time I upgrade I have to fork out more. Not complaining though as if it was a car I'd be losing heaps in depreciation and paying more to upgrade too.

[PinHead]

I sold a 2001 Quintrex 600 Offshore (wot a joke of a name for one of these) in 2004, 3.5 years old with 200 hrs on it. I got $1000 less than what I paid when it was new. The things I lost out on were a rocket launcher and GPS/sounder.

I've just sold my 2004 Fisher 660 Maxi. I had her for just over 5 years, and put 500 hours on her. Similar story. Lost out on sounder/GPS, plus storm covers but sold her for the exact amount I paid for her 5 years ago.

Depreciation??? Apart from the running and up-keep costs, my boating has been a relatively cheap affair :D What has worked in my favour has been the ever increasing cost to buy a new boat, therefore the scond hand ones have held value. Down side is that each time I upgrade I have to fork out more. Not complaining though as if it was a car I'd be losing heaps in depreciation and paying more to upgrade too.

do what I do..downsize..LOL..from 30' to 18 1/2' to a tinny

[finga]

Don't know really.
I've never sold a boat. Just bung them in the shed with the rest.

[Smithy]

Yep what the boys are all saying. You don't do much dough on a good boat. My first tinny for the basic b/m/t cost me $6,000 but would have had a couple of grand of accessories on it including CD player, bow mount electric and good sounder yet I sold it for $4,600 on EBay after 13 years use. First offshore boat I bought for $6,900 b/m/t, did a repower on it with a new outboard costing $7,000 and got out of it for around $13K the only real loss being all the goodies I put on it but I would have done 600 hours in about 4 years on it. My 5.85m platey I bought for $35K and sold for $35K only losing on the accessories once again but put about 500 hours on it over a couple of years.

[gr hilly]

the price of some new tinnies this year are cheaper than last year made by the same company with more extras so it becomes a hard one to answer.i bought a tinnie for $5000 4yrs later i got the same for it .glynn

[ozbee]

easy to say most people are trading up .small tinnies are much the same as there is not much outlay .bigger boats whether ally or fibreglass no one is going to pay the same for a $ 30000 second hand motor over a new one.

[kevy]

hi, bought a seafarer viking in early eighties, for round 8 grand sold 3years ago for about same price. koden sounder, vhf, gps, downrigger, trolling polls, would be my loss, cheers, kevy,

[Daisy Burnett]

I bought my old boat in Perth in winter (a good time for buyers) and sold the same boat in Melbourne, at the start of summer, three years later after a lot of TLC for a three grand profit. I recon that was a real win. It cost me a lot of elbow grease as when I bought it the fibre glass had been subjected to 5 years of direct sunshine with no polishing. So a bit of work brought it up a treat and we fell in love. Great boat still miss it.

Cheers
Daisy