Boat Prices are Insane
- Thread starter Baxter
- Start date
Foxsea
Well-Known Member
What we are seeing reflected on hard assets is currency inflation. Of course boats and RV's, equities and even real estate have not appreciated so much in real terms but the purchasing power of our dollars is dropping quickly. This always happens when government throws billions of dollars into markets as they have done with Covid. The money flows and markets become distorted. Everything will cost more and more dollars. Stay out of cash.
brutus
Well-Known Member
Ya I also know a few morons who did the same thing, now they have no contract and starting to stress out over how they going to pay it back lol
brutus
Well-Known Member
btw, father and son, two separated bizz companies names 40k each lol
Don’t forget the devalued $CAD. 11 years ago, we were almost at par with the US$. It’s a different story now. So, it’s not all about “profits “ but rather the shrinking value of our currency. Turn your cash into some assets and watch its value growing.... sad but true.
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RiverBoy
Well-Known Member
bought my campion 165 explorer back in 2000 for $8500 with a newish yammy 90hp on it. put almost 600 hours on it and sold it for almost double what i paid. boats don’t always depreciate if you take good care of them. turned that into a decent DE 185. reckon i’ll keep this one
Fishboy89
Member
Like others I bought a 2002 Alumaweld Intruder Jet in the States for 21K about 10 years ago. Dollar was at par. I could definitely sell it for 25K maybe 30K now even with 10 years of use. The joy I have gotten out of that boat is priceless though. The boat I would like is now $125k.....every time I use my boat now it feels like free money.
kaelc
Well-Known Member
Lots of boat math on here 
. I dropped 10-15k plus taxes in upgrades and maintenance to my Hewes and definitely did not get an ROI, even though I sold it for more than I paid for it. My boat math is now, if we get a few days on the boat in the sun in the gulf islands or desolation sound it's just like going to Hawaii, saving a trip for 4 so it's like making 5k
We keep a spreadsheet our 25 foot boat and it is difficult when we reconcile ever year. Nice to realize what a new boat goes for and that most used boats on the market need 10-30k in maintenance and upgrades to be anywhere near as safe and reliable.
New boat prices seem insane until you add up all the parts, tools and labour of welding your own up or building one stitch and glue like a Tolonen, much less the dealership and factory overhead and payroll costs. Even at wholesale prices bilge pumps, marine electrical is all expensive, much less fibreglass and aluminum. Add in a head and galley and compare that to reno on a home kitchen and bath. Each trade you get in seems to be 5k minimum unless you have a friend who can do the work direct and can wait for him to show up. Used boats start to look cheap right?
. I dropped 10-15k plus taxes in upgrades and maintenance to my Hewes and definitely did not get an ROI, even though I sold it for more than I paid for it. My boat math is now, if we get a few days on the boat in the sun in the gulf islands or desolation sound it's just like going to Hawaii, saving a trip for 4 so it's like making 5k We keep a spreadsheet our 25 foot boat and it is difficult when we reconcile ever year. Nice to realize what a new boat goes for and that most used boats on the market need 10-30k in maintenance and upgrades to be anywhere near as safe and reliable.
New boat prices seem insane until you add up all the parts, tools and labour of welding your own up or building one stitch and glue like a Tolonen, much less the dealership and factory overhead and payroll costs. Even at wholesale prices bilge pumps, marine electrical is all expensive, much less fibreglass and aluminum. Add in a head and galley and compare that to reno on a home kitchen and bath. Each trade you get in seems to be 5k minimum unless you have a friend who can do the work direct and can wait for him to show up. Used boats start to look cheap right?
Baxter
Well-Known Member
with the price of Salmon, My boat has paid for itself right there so far. At $18/lb, one 20 lb salmon, after being cleaned is probably 15 lbs or so, that's $270 retail in fish right there - as insane as that sounds. For those months when fishing is hot, it doesn't take long to justify a boat payment.
But I didn't get a boat to save money on Salmon. That is just a great by-product of these expensive toys
But I didn't get a boat to save money on Salmon. That is just a great by-product of these expensive toys
Stizzla
Crew Member
You almost forgot that the 2 large dungees you pulled up after catching that salmon are worth $70 now too! Even I can catch those.with the price of Salmon, My boat has paid for itself right there so far. At $18/lb, one 20 lb salmon, after being cleaned is probably 15 lbs or so, that's $270 retail in fish right there - as insane as that sounds. For those months when fishing is hot, it doesn't take long to justify a boat payment.
But I didn't get a boat to save money on Salmon. That is just a great by-product of these expensive toys
Baxter
Well-Known Member
Ah yes, cost of crab is bonkers! Also not to mention other goodies the boat brings in.
If we really want to dive into the nitty gritty, have so far had 3 insane whale watching experiences also. Four people on the boat each time. That’s basically $1k per trip right there! Boat is practically paying me!
(I can justify anything )
ryanb
Well-Known Member
Save these arguments for the wife, we all know better lol
Baxter
Well-Known Member
LOL, my wife is cool with boat expenses. All good there.
While I exaggerate, there is some truth behind it all. Boats are not cheap, but they can pay for themselves if fully utilized
Rain City
Crew Member
Yup. What does a three week boat charter up in Desolation cost in August?LOL, my wife is cool with boat expenses. All good there.
While I exaggerate, there is some truth behind it all. Boats are not cheap, but they can pay for themselves if fully utilized
sly_karma
Crew Member
Couple years back I had three projects all on Okanagan lakefront, so I made a point of visiting them by boat a few times. Asked my accountant if occasional business use like this would justify having the corporation "buy" it and claim the expenses. His response: "Sure, you can do it. And I'll be happy to help prepare you for the CRA audit."
End of plan.
End of plan.
Baxter
Well-Known Member
Not sure but a heck of a lot more than what it’s going to cost me!
kaelc
Well-Known Member
$15K, http://www.desolationsoundyachtcharters.com/fleet/rates/power/ They had mine for about 10k for 3 weeks but it looks like it was taken out of the charter pool. Since I have the trailer I'm looking at Sea of Cortez for a Christmas vacation....
Unreel
Well-Known Member
Been seeing alot of boats for sale recently on facebook. Most look like ones that were bought by first time boaters last year for outrageous prices. Junk boats that 2 years ago would be 500-$1000 people are trying to get 4-$5,000 for lol. 40 plus year old 15' hull with 40 year old 2 stroke, yup thats $5000 for sure . Feel sorry for those that have no clue and think this is what these boats are worth.
. Feel sorry for those that have no clue and think this is what these boats are worth.
walleyes
Crew Member
Yup,, got the same response from my accountant years ago. I take a lot of friends and work acquaintances out fishing and day boating so I did think about it. Like you they said it can be done but is it really worth the hassle. None of my toys, trailers, quads, boats are bought and claimed through my company it’s all personel. I just don’t want the headache of worrying about it. We were audited a couple years back over something else ( company vehicle expenses ) that led them in but my wife is a very prudent book keeper, they came to the house as our office is ran out of our home. When they were done they ended up sending us a check lol.
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