NE Boat Show

[Gmack76]

Funny you should write that... I was just thinking that at the stratospheric new boat prices (even with a significant discount), it may now be the situation that refitting older boats time has come. There is show called Florida Dream Boat. On the show, they do complete renovations and resto-mods. I would think lot work can be done for $100k - $200k.

Agreed. There's another show called "Making it Metan." They do the same stuff (even have a line of new Whaler look-alikes) and I bet $100k including motors would go pretty far.

 

[Pat Hurley]

750k boat (33 Freedom or express)
350k down payment
400k financed over 15 yr = aprox 40k per yr in payments (mostly interest up front).
Add in 10-12 k in slip and storage fees
Add insurance 3k and you’re staring down the barrel of 55k annually and you haven’t even turned the key , gassed up or bought bait and ice.
Let that sink in .

Might I add that if you rode this horse for five maybe 6 years and were to try and sell,
most likely that 350k down payment would evaporate and those monthly payments you made would be largely on the interest side of the equation so in reality my 55k est annually is way short of the real $ numba’s

 

[JJF]

Agreed. There's another show called "Making it Metan." They do the same stuff (even have a line of new Whaler look-alikes) and I bet $100k including motors would go pretty far.

Yes, especially if the boat was 100% wood free. I think a perfect example of a starting boat would be a mid-2000s Hydra-sports Vector. Solid hull, proven design, great layout, etc.

 

[JJF]

750k boat (33 Freedom or express)
350k down payment
400k financed over 15 yr = aprox 40k per yr in payments (mostly interest up front).
Ad in 10-12 k in slip and storage fees
Ad insurance 3k and you’re staring down the barrel of 55k annually and you haven’t even turned the key , gassed up or bought bait and ice.
Let that sink in .

YUP!

I don't disagree that it's crazy, but there are many people for whom $50k-$100k per year is nothing but another bill.

 

[Automated14]

Now don't feel so bad dropping 75K on engines

 

[family affair]

Now don't feel so bad dropping 75K on engines

I'm in the same, uh - boat. Our islander is like new cosmetically. The engines weren't bad by any means, but were never worth more than they were in fall when I sold them. Once new engines get here (if ever) we will have a like new boat, with new engines, trailer, and electronics for under $75k. Considering a new 275 Freedom is $250k, I think we are doing well!

 

[Automated14]

I'm in the same, uh - boat. Our islander is like new cosmetically. The engines weren't bad by any means, but we're never worth more than they were in fall when I sold them. Once new engines get here (if ever) we will have a like new boat, with new engines, trailer, and electronics for under $75k. Considering a new 275 Freedom is $250k, I think we are doing well!

to me, It used to make zero sense financially to repower a boat when the new model was prob less than the purchase price of the old one and new power put together. Not so much anymore.

similar to 60's musclecars. I used to marvel at people putting 100k to restore one when already restored ones were never that much unless the rarest of the rare. Now that 60K cars are 160K in less than a 5 year span, stroking a check to get one restored is pretty attractive.

 

[PointedRose]

to me, It used to make zero sense financially to repower a boat when the new model was prob less than the purchase price of the old one and new power put together. Not so much anymore.

GW has had its share of production quality concerns from members on this forum recently… at that price tag, hopefully the quality will stand up

 

[JJF]

I don't get the boat prices and I REALLY don't get the muscle car prices. Virtually every muscle car rides and drives like a box of rocks.

Every now and then I will watch an auction on TV and I just can't believe what people pay for "collector cars". I sort of get the true classics (pre-WW2 Ferraris, Jags, Duesenbergs, etc. ), but not $200k for a tri-5 Chevy, $300k for a'69 GTO (I don't care if it was 1 of Judges in blue), $400k for a big block Vette with A/C, etc.

..and for what it's worth, I used to be a car guy. Now, just give me my F150.

 

[Fishtales]

Yup. Will do the tanks and then repower for sure. If I had a ton of money I'd still have trouble plunking down those prices. I'd blow the money setting up 529s for my grandkids (if/when they arrive) and invest it in assets that payback something.
For me the value has to be there for anything I buy. I moved to a yacht club because $8.5K to slip a 32' loa boat doesn't make any sense. In 7 years the boat will be worn and require maintenance, I think it is better to find a good used boat.

Was looking at muscle cars and agree, they value isn't there for a 40 year old car that might go fast straight, but can't handle and rides badly. Went with a 2023 Mustang Mach1 - first V8 that I've owned. Was on the list will pay for itself after 5 years at the yacht club!

 

[Recoil Rob]

GW has had its share of production quality concerns from members on this forum recently… at that price tag, hopefully the quality will stand up

Probably still have to replace the bang cap....

 

[Mustang65fbk]

I don't get the boat prices and I REALLY don't get the muscle car prices. Virtually every muscle car rides and drives like a box of rocks.

Every now and then I will watch an auction on TV and I just can't believe what people pay for "collector cars". I sort of get the true classics (pre-WW2 Ferraris, Jags, Duesenbergs, etc. ), but not $200k for a tri-5 Chevy, $300k for a'69 GTO (I don't care if it was 1 of Judges in blue), $400k for a big block Vette with A/C, etc.

..and for what it's worth, I used to be a car guy. Now, just give me my F150.

Those car auctions that you see on tv like Barrett Jackson or Mecum and typically always bring above top dollar because the restorations are usually much better than just your average classic car restoration and imo aren't really indicative of the current classic car market. I will say though that classic cars, as well as boats, are oftentimes all about location with regards to the purchase or asking price. Other things like buying in the off season buying vs peak season buying, being patient and looking for what you want throughout the entire country can also save you a ton of money. I bought my Grady back in October of 2021 on the east coast for $26.5k and have seen the same boat sell out here in Seattle last summer for $65k.

The same goes for classic cars, if you want one then be patient and look in the off season, elsewhere throughout the country or you'll even see them just sitting in people's driveways. You can still find tons of classic cars for less than $50k, even mustang coupes are generally always in the $20k range or less. Though I will say, v8 fastback mustangs are getting rather difficult to find anymore for under $60k, unless it's just a basket case, which my dad and I bought my car for $6k back in 2002. Would've been nice knowing back then what they're worth today as we could've made a good deal of money off of cars now.

 

[JJF]

For me, it doesn't matter how nice of a restoration was done. I just don't see the value. They are still boxes of rocks.

 

[MashpeeMan]

Those prices make $50k for new motors look like peanuts!

On a smaller scale than a lot of you with the bigger boats on this forum... this is exactly why I decided to repower my (2001)192 this winter instead of replacing my 22 year old boat. Just couldn't justify paying nearly $100K for the same boat or something a little bit bigger and I love the boat. So a new 4 stroke for under $20K made the most sense to me.

 

[PointedRose]

I just don't see the value.

the value is the utility of the boat, and the opportunity to do something else w the extra cash in bank. I think the value isn’t really the $ assigned to resale for the folks that repower

 

[family affair]

the value is the utility of the boat, and the opportunity to do something else w the extra cash in bank. I think the value isn’t really the $ assigned to resale for the folks that repower

I think he was referring to cars.

 

[PointedRose]

I think he was referring to cars.

I see, although I think the same comment applies. Value isn’t just $ value for an item, what value can get placed on peace of mind, enjoyment, satisfaction of completing a project, stress relief, whatever

 

[JJF]

Hi,

Correct, I was referring to cars. To be fair, I am sure people look at us boaters and think the same thing. Ditto for RVs, bikes, etc.

I get it that everyone has their thing, but I just don't get the "values" on the muscle cars. While the same could be said for Objects d' Art, I can see where someone wants to hide mega-money in art, which easily be moved from generation to generation, can be lent to museums, etc. Perhaps some folks are doing this with collector cars.

Back to cars, I'd rather drive a modern day 911 for $250k, than a 1960s "insert American muscle car here". Now, if we are talking about picking up a nice, drivable "classic" for <$50k, that's a different story. It's funny, I will look at listings and be like, hmmm..this is nice, then I see the old dash, old suspension design, outdated this & outdated that, and then completely lose interest. It could very well just be me.

 

[family affair]

It's not just you. There are very few "classic" anything that I would want to own. Generally technology has improved cars significantly to the point that I don't look backwards too often. I have been a bit disappointed by a lack Ford truck reliability and substantial complexity, but the performance and efficiency is impressive.
Boats are a little different because aside from engines and electronics, not much changes to warrant the significant expense IMO.

 

[Mustang65fbk]

For me, it doesn't matter how nice of a restoration was done. I just don't see the value. They are still boxes of rocks.

That's your opinion, though the fact that they're selling for what they do would indicate that they're a lot more valuable than what you think they're worth...