Most people want to buy a brand-new boat and rationalize it by saying, “Well, I don’t want to fool around with all the breakdowns and problems involved with a used boat. I want a new one that’s free of all that hassle.” You know the argument; we’ve all used it. Boaters who’ve had the experience of fitting out a new yacht know that they’re hardly trouble free.
And the cost? Financing a new boat purchase over ten, twelve or fifteen years is hardly good economics when the average period of ownership is probably less than six to eight years. What could give you more of a sinking feeling than to have to write a check to the bank when the time comes to sell because you owe more than its worth? That can really take the pleasure out of boating.
The point is that more and more yachtsmen are discovering that there are really great values to be had in used boats, particularly older ones that have reached the point where the shine is gone, the style is no longer the latest, the engine is blowing smoke and the interior is a bit more than just worn. The one great advantage of considering purchasing and refurbishing an older yacht is the tremendous differential in the cost of new.
A new boat 44 feet that sells for 400000 euro, might have a resale value of 200000 Euro eight or ten years later (especially if this boat has been used for charter). That’s a whopping difference of 200000 Euro, so it doesn’t take much imagination to see what could be done in the way of refurbishment with even half that amount.
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