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Old 12-02-2019, 01:38 AM
 
18,649 posts, read 4,632,040 times
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I would assume most anything with a engine would depreciate in value as a general rule.
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Old 12-02-2019, 08:13 AM
 
6,027 posts, read 3,865,178 times
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Just remember the triple f rule.
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Old 12-02-2019, 08:18 AM
 
Location: Pennsylvania
14,103 posts, read 4,822,867 times
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I don't always take full depreciation on my yachts, but when I do, I drink Dos XX. Stay thirsty my friends.
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Old 12-02-2019, 08:19 AM
 
Location: San Diego
37,313 posts, read 33,529,801 times
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Quote:
Originally Posted by marlinfshr View Post
Oh yea! The only yachts I know of that can increase in value are some of the more sought after custom sportfishers that may have a build time of several years once contracted out. They get finished, fished for a season and then sold to someone who doesn't want to wait. But that season may have cost 500,000 or so just for upkeep and maintenance. So factoring that in, it'll still be a loss.

A general rule is to take a wad of 100 dollar bills and just toss them, one by one, into the wake. As the boat moves faster, toss them out quicker. If that bothers you the slightest bit, you don't want one.

Other then being poor, that is why I just crew on those types of boats and have my own small center console which I run back bay fishing trips on!
Even my big rig with twin oil burners got around 1 mpg at 7 knots. At the top speed of 24 knots it burned 2 gallon per mile. The first time I had to fill the empty tank of 500 gallon I freaked out. 5 bucks a gallon fuel dock prices. Ouch!!

Luckily the billfish show inshore here so we don't have to travel far to get into Marlin.
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Old 12-02-2019, 08:24 AM
 
Location: Billings, MT
9,725 posts, read 8,229,064 times
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YACHT (or any boat): A hole in the water into which you throw cash.
Yeah, even my 14 foot aluminum fishing boat has expenses...
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Old 12-02-2019, 12:16 PM
 
Location: Southern Most New Jersey
1,420 posts, read 954,196 times
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I have never owned a boat but got the license to operate them. Friends have asked me over the years to go with them on their boats.

Boats are crazy expensive. I have always chipped in, fuel, food. But I have never payed toward major expenses.

I know one man down in FL who helps run boats. It's the way to go as many boat owners are older and welcome a helping hand.

Zero alcohol when on a boat..
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Old 12-03-2019, 09:03 PM
 
Location: USA
1,290 posts, read 528,445 times
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When we moved to Wilmington NC, I wanted a sailboat. We purchased a little 22 footer for maybe $16k in 1987. “Bought” a slip for $18k in Wrightsville Beach. Loved it.

We sold the boat in early 1990 for about $9.5k and rented the slip for $300 a month. In mid-1991, we “sold” the slip, or rather our share in the boataminium which gave us rights to that slip, for $45k.

Our foray into boat ownership worked out well.

(Recent listing shows a similar one for $115k. Link )
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Old 12-03-2019, 09:49 PM
Status: "Not My Circus - Not My Monkeys" (set 24 days ago)
 
Location: San Francisco
3,121 posts, read 772,073 times
Reputation: 1848
Quote:
Originally Posted by mrxalleycat View Post
Yachts : Do these boats depreciate in value?
Yep - as soon as they are launched (or commissioned, determining it seaworthy). It's like cars in that (the majority of time) they should be purchased for enjoyment/use not investment. Don't mix business with pleasure. :-)
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Old 12-04-2019, 09:39 AM
 
6,553 posts, read 3,059,572 times
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Quote:
Originally Posted by 1insider View Post
How about "bonus" depreciation as recognized by the IRS? It is a very attractive tax incentive for high-income buyers of yachts. It's possible to write off the entire purchase price in the year of purchase as long as certain conditions are met.
"Depreciation" in the context of this thread is all about how the asset declines in value. A decline in value has NOTHING to do with depreciation in accounting or tax.
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Old 12-04-2019, 03:25 PM
 
Location: Raleigh
8,932 posts, read 6,708,549 times
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And even if they don't depreciate the maintenance costs are incredible.

It's like a house. Except it sits in salt water.
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