What is my boat worth.
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- Rank: Lubber
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Posted: May 12, 2010 - 12:37 PM
So I have been working on this prindle 16, a 1976. I am almost finished but I am trying to figure out if I am going to come out ahead. So far I am $800 in and I am going to have my hulls sprayed with new gelcoat. That is going to be %800, I also have a new trailer that was $650. When it does come time to upgrade am I ever going to see a return or at least a break even on my boat. PS sails tramp and rigging is all perfect.
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Posted: May 12, 2010 - 01:02 PM
Hmm, sorry to say but you may just break even on that.
Generally speaking fixing a cat up for resale isn't a money making proposition unless it is relatively new. Most do those things as part of maintaining the boat and sell only when upgrading or when the boat has been sitting around unused for a couple of years. The expectation is that you will probably lose money or just break even on it.
I have put WAY more than that into my 1981 Nacra 5.2 and probably couldn't get more than about $3000 for it with the trailor even though it is now much better than stock. Part of that was me not knowing enough about catamarans when I bought the boat and other is just loving my boat and wanting to upgrade it. I doubt I will ever sell it.
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Dave Bonin
1981 Nacra 5.2 "Lucile"
1986 Nacra 5.7 "Belle"
Winnipeg, Manitoba, Canada
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Posted: May 12, 2010 - 01:12 PM
Yes you will come WAY AHEAD! you will have the joy of sailing the boat you fixed up for years and years (if you dont sink it). If you sail it 100 times.. your $2250 investment will cost you only $22.50 per use. If you wanted to rent a cat for a day, it would cost you $100s... so you will be WAY AHEAD.
resell? you could recoup a good % of your costs, but your fun will be priceless...
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Posted: May 12, 2010 - 01:37 PM
A recreational boat for resale is typically not a break even or profit situation. Being a very business minded person nearly everything I buy I end up to some level make a purchase analysis, do I need this? Will I use it?...etc. When it comes to boat maintenance parts etc I rationalize it this way: If you don't spend the time and money to do it right before heading out you are likely at some point to have your sailing cut short or not be able to go out at all.
I agree with Andrew, the sailing experience is worth way more than a few hundred, or a thousand dollars either way.
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Posted: May 12, 2010 - 02:01 PM
as a side note, i purchased my first H16 for $1200. sold it for 1200. Bought my first H18 for $400 (the guy just wanted it gone), sold it for $1200 (fair price) purchased my current boat for $3200 and have invested more than $3500 more, expect to sell it for around $3200 if i sold it today (maybe $800 more with spinnaker)
none of my hobie's sale price took into account for upgrades and repairs. just the cost to LIVE THE DREAM! -
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Posted: May 12, 2010 - 02:18 PM
B.O.A.T. Break Out Another Thousand
When these cast meet a certain age and are still in good sailing condition they seem to settle in value. Pridles seem to level out like Hobies in price. As long as it's sailable and not in need of serious repairs like blisters and delam issues. Is always fair to deduct from the going price the need for a new tramp or used mast/boom/sails. -
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Posted: May 12, 2010 - 02:32 PM
your majic number is cost per use like andrew said. bought my boat for 500, put 700 into it, sailed it 18 times so far at a cost of 66.66 per use. if i sail another 20 times this season its down to 31.50 per use etc.. even if i bought new sails and tramp i would be lucky to get 1500 for it(1978 p-16). you generaly don't make lots of money on old cats unless someone "gives" you the boat. likewise the boat does no good sitting up for years on end, 0 utility. my buddie who is a big fisherman bought a 24' decked out open fisherman, new yamaha, electronics, etc. for 50,000. he took it out 6 times last year and blew up the new motor. his cost per trip 8333, not to mention the 200 in gas per trip. he could have gone on charter boats and saved a fortune. all this being said, cat sailing is bang for buck like no other boats!
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bill harris
hattiesburg, mississippi
prindle 16- "BLUE RIBBON"
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Posted: May 12, 2010 - 02:42 PM
the real question is, how many fish did he catch? (since thats the goal of a fishing boat)
if he caught 25.000 i think he got his moneys worth.. if not.. shoulda gota cat :) -
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Posted: May 12, 2010 - 03:02 PM
he mainly fishes for speckled trout but there are STRICT limits to that. lets see here, 15 trout per trip(limit), each trout weighs 2 lbs. avg.= 30 lbs. before filet. net say 15 lbs. filets per trip. each trip boat cost 8333 + 200 fuel= 8533 divide by 15 lbs filets= 568.86 per lb!!! thats what it cost him last season. now all he has to do is pay the labor to replace upper unit on blown motor(2700, warranty covered parts) and he will be ready to save more money! belive me, he doesn't have more fun on his trips than we do, not even close.
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bill harris
hattiesburg, mississippi
prindle 16- "BLUE RIBBON"
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Posted: May 12, 2010 - 03:25 PM
I paid $5000 for my 1981 Nacra 5.2, with a new tramp, sails,trailor and redone hulls, daggers and ruddres. In the last year I have spent close to $3500 for new rigging, harnesses, sails (the sails the seller made are old style and have no roach), beach wheels etc etc etc.
Being able to get away from the wife's nagging for hours at a time, priceless. :)
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Dave Bonin
1981 Nacra 5.2 "Lucile"
1986 Nacra 5.7 "Belle"
Winnipeg, Manitoba, Canada
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Posted: May 12, 2010 - 04:29 PM
he should switch to chicken, or broccoli -
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Posted: May 13, 2010 - 01:45 PM
These things are expendable beach toys. I view my boat as a sunk cost and investment in summer recreation. A cheap investment by the way. When I decide to move on, I will sell it for what the market will bear and not worry about it. -
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Posted: May 13, 2010 - 02:02 PM
I agree completely with Larry,
My wife was looking at a one week cruise or all-inclusive beach resort vacation and I realized my boat cost less then either one of them..... Enjoy your boat and the time on it, but if you get caught up in the return on investment you will not have nearly as much fun.
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Scott,
‘92 H18 w/SX wings
‘95 Hobie Funseeker 12 (Holder 12)
‘96/‘01/‘14 Hobie Waves
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