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Old 12-04-2019, 07:34 PM
Status: "Not My Circus - Not My Monkeys" (set 24 days ago)
 
Location: San Francisco
3,121 posts, read 773,367 times
Reputation: 1853

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Quote:
Originally Posted by JONOV View Post

It's like a house.
Racing yachts aren't (though they still do depreciate). A 'yacht' is simply a pleasure boat (luxury or racing) - it can be powered or not, though many prefer to use the term sailboat when it isn't (especially if it's of smaller size).
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Old 12-05-2019, 03:37 AM
 
Location: MD's Eastern Shore
2,354 posts, read 3,134,585 times
Reputation: 4155
Quote:
Originally Posted by JONOV View Post
And even if they don't depreciate the maintenance costs are incredible.

It's like a house. Except it sits in salt water.
A house that moves at 30plus knots and is continually lifted up, shaken and dropped along the way.
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Old 12-05-2019, 05:10 AM
 
15,560 posts, read 8,382,686 times
Reputation: 28156
Quote:
Originally Posted by 1AngryTaxPayer View Post
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.
I usually burn about 10 gallons of diesel per season. I spend more running the 15 hp outboard on my dinghy.
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Old 12-06-2019, 10:53 AM
 
Location: Chandler, AZ
2,717 posts, read 1,379,540 times
Reputation: 6467
Quote:
Originally Posted by mrxalleycat View Post
Yachts : Do these boats depreciate in value?
The two happiest days in a boat owners life... the day s/he buys it, and the day s/he sells it.

Definition of "boat" = a hole in the water you pour money into.
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Old 12-06-2019, 10:58 AM
 
Location: San Diego
37,315 posts, read 33,529,801 times
Reputation: 21633
Break Out Another Thousand
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Old 12-06-2019, 06:03 PM
 
2,739 posts, read 2,239,494 times
Reputation: 6674
I have 7 yachts as I like to take a different one out every day. Sure they are depreciating in value but hey at least I am diversified in my investments as each is a different color
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Old 12-06-2019, 07:09 PM
Status: "Not My Circus - Not My Monkeys" (set 24 days ago)
 
Location: San Francisco
3,121 posts, read 773,367 times
Reputation: 1853
Quote:
Originally Posted by jnojr View Post
The two happiest days in a boat owners life... the day s/he buys it, and the day s/he sells it.
Not true for most who sail - though I would agree in re: luxury yachts and fishing boats. Actually, I wouldn't even buy the latter.
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Old 12-09-2019, 08:12 AM
 
4,183 posts, read 3,408,155 times
Reputation: 8970
Quote:
Originally Posted by TaxPhd View Post
"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.
Do you have something to contribute or are you acting solely in your capacity as moderator?
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Old 12-09-2019, 02:13 PM
 
6,553 posts, read 3,060,879 times
Reputation: 6523
Quote:
Originally Posted by 1insider View Post
Do you have something to contribute or are you acting solely in your capacity as moderator?
I was just clearing up your confusion over the topic of this thread.
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Old 12-09-2019, 02:54 PM
 
4,183 posts, read 3,408,155 times
Reputation: 8970
Quote:
Originally Posted by TaxPhd View Post
I was just clearing up your confusion over the topic of this thread.
Thank you for your service.
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