I was reading this magazine about yachts. Most mentions how much they cost etc but there is no mention of appreciation or depreciation it its value.
Does chartering a yacht actually ofset some of the investment or does it actually generate profit?
2006-11-23 09:02:12 · 9 answers · asked by Anonymous in Cars & Transportation ➔ Boats & Boating
Mass produced boats depreciate. Custom yachts can increase in value depending on the use and how they are outfitted, but their value decreases with number of hours.
Boats like old Chris-crafts can appreciate.
2006-11-23 09:10:16 · answer #1 · answered by Sir J 7 · 0⤊ 1⤋
Boat depreciate. They're vehichles, like cars, motorcycles, and RVs. Every year, boat companies build better and fancier boats and the older ones drop in value.
Even chartering doesn't offset the expense of owning a yacht that much. If you charter, you have to maintain a slip at a marina that will arrange your charters, you have to stock your boat and keep up with the maintenence of cleaning up and repairing after your charters, and you have to carry more insurance. Boats are expensive.
2006-11-23 10:14:33 · answer #2 · answered by Christopher M 1 · 1⤊ 0⤋
A YACHT BURNS MONEY LIKE A BLAST FURNACE the only way to make money on a boat is to buy that boat low fix and paint to look good and then keep it in the garage for the winter and put it for sale in the spring----- charge the battery once a month and make it a good buy to the next owner so you can sell and start your new hobby all over.... a new boat is a toy and a good looking used boat is a toy ____ they all lose their appreciation ( just like a car)
2006-11-23 17:45:38 · answer #3 · answered by XTX 7 · 1⤊ 0⤋
Pick up a copy of a good yachting magazine and look at the for sale ads. Yachts depreciate rapidly as being in a maritime environment deteriorates their hulls, fittings, and equipment. They are extremely expensive to maintain and crew. Chartering usually offsets little of the actual cost of owning one. The exception to this general rule of depreciation is a yacht of historical significance or particular performance excellence.
2006-11-23 09:18:46 · answer #4 · answered by Anonymous · 1⤊ 0⤋
We just sold our 2002 12' x 52' Catamaran Cruiser houseboat with twin 225hp Yamaha four-stoke outboards (also 2002s). The boat and motors had depreciated, slightly, but because of all the extras that we added, we did VERY well in the sale of it. Some of the extras included: Satellite dish with the tracking system, furniture ( two single beds, a single futon, dining table, bar stools, deck furniture), custom artwork. Truthfully, the extras are what "made" the boat and were the key to our sale.
2006-11-24 02:41:08 · answer #5 · answered by iluvmynotebook 5 · 0⤊ 0⤋
Appreciate In Value
2016-10-18 05:11:08 · answer #6 · answered by ? 4 · 0⤊ 0⤋
buy a POS and claim it as a second home at tax time. that will generate a + on your money. from there, finance a $5million classic & wait 20 years to find out.
2006-11-24 11:23:50 · answer #7 · answered by Anonymous · 0⤊ 0⤋
boats sink. boats burn, boats never, ever appreciate unless you double the cash input you expect on your appreciation.
2006-11-23 14:28:21 · answer #8 · answered by Anonymous · 1⤊ 0⤋
my old boat was called the scorpio birth sign
2016-03-12 21:43:49 · answer #9 · answered by Anonymous · 0⤊ 0⤋