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  1. #1
    Join Date
    Jun 2017
    Posts
    170

    Default Asset or liability

    Is your boat an asset or a liability? I love my boat as Iím sure you do to, but do we have a valuable asset or a legacy liability?

    Given that boats are hard to recycle, generally have dirtier engines than cars, are getting older and more out of reach financially (to run) for younger people, what is their future?

    If we hold onto our boats for 15-20 yrs will they have a value or will we be facing an environmental charge for disposal?

    How do you see the future? Will we see a resurgence in younger sailors? Will there be a glut of mid 80ís to 90ís boats for sale that wonít find a home?

    Iím really hoping for some positive answers!

  2. #2
    Join Date
    Apr 2019
    Location
    Cornwall - top end :-)
    Posts
    79

    Default Re: Asset or liability

    I think it is like everything, cycles of trend for a sport / hobby.

    I am optimistic that we will see a resurgence of younger sailors. In our marina there is a group of much younger sailors, and marine engineers, coming through.

    What is interesting is that the boat owners tend to be out of area (I live in Cornwall) and both myself and my husband cannot work out why we don't have a lot more local sailors, particularly as we have so much beautiful water to sail? The younger sailors are local, but the more mature sailors are not.

  3. #3
    Join Date
    Jun 2007
    Location
    Benfleet Essex
    Posts
    1,098

    Default Re: Asset or liability

    Never mind 80's or 90's boats, the fact is that there are an awful lot of 60's & 70's ones as well.
    American naval architect Eric spongberg wrote a very prophetic article for professional boatbuilder magazine 20 years ago, https://www.proboat.com/2016/09/thou...ng-dead-boats/ , Though written with the american scene in mind it still rings uncannily true today.
    He reckoned that over 90% of all the GRP boats ever moulded are still around. They are built from a material that is very hard to recycle, basically it is ground up & used as additive for casting more grp products. Due to the cost of grinding it up there is next to no market due to cost. Most waste grp goes into landfill.
    Anyone who has ever refitted a 30 or 40 year old yacht properly will know that the refit costs will almost certainly far exceed its value. The average 70's yacht in poor condition requiring new engine, sails & rigging is becoming effectively valueless. For many they are a liability.
    Eric Spongberg suggested 20 years ago that a future disposal charge should be factored in to manufacturing costs but i doubt its ever been done. I have no doubt sooner or later it will be.

  4. #4
    Join Date
    Jan 2011
    Posts
    5,583

    Default Re: Asset or liability

    I expect to give my boat away when I've finished with it, so see it as neither an asset or a liability. Just a pass-time and a holiday home.

  5. #5
    Join Date
    Feb 2010
    Posts
    1,500

    Default Re: Asset or liability

    Leisure boats are liabilities, financially, emotionally, in fact in almost all ways you can consider them. This is one of Buddah's inescapable truths.

  6. #6
    Join Date
    Mar 2010
    Location
    Ammersee, Bavaria
    Posts
    4,677

    Default Re: Asset or liability

    This is my AWB. There are many like it, but this one is mine.
    My AWB is my best friend. It is my life. I must master it as I must master my life.

    Without me, my AWB is useless. Without my AWB, I am useless. I must sail my AWB true. I must anchor more securely than the other boats which are trying to kill me. I must pick the safest spot before it is taken. I will ...

    My AWB and I know that what counts at sea is not the anchors we use, the material of our hulls, nor the reefing system we choose. We know that it is the fun that counts. We will have fun ...

    My AWB is human, even as I, because it is my life. Thus, I will learn it as a brother. I will learn its weaknesses, its strength, its parts, its accessories, its engine and its sails. I will keep my AWB clean and ready, even as I am clean and ready. We will become part of each other. We will ...

    Before God, I swear this creed. My AWB and I are the adventurers of my country. We are the masters of our cruising ground. We are the saviors of my life.

    So be it, until victory is mine and there are no hostile internet forums, but peace!

    ... but seriously, as long as the fridge works, and it floats, it's an asset.
    The best argument against democracy is a five-minute conversation with the average voter.

  7. #7
    Join Date
    Feb 2007
    Location
    Essex
    Posts
    22,028

    Default Re: Asset or liability

    Having nearly finished my annual fitting-out I don't consider myself to be in a fit state of mind to answer the question rationally. I still have the yard and engineers' bills to pay.
    Far away is near at hand in images of elsewhere

  8. #8
    Join Date
    Apr 2018
    Location
    Mooring, Faro
    Posts
    1,397

    Default Re: Asset or liability

    I'm not sure whether modern production boats are going to last as long as the "build em thick" 1970s grp boats. Quite a few boats 15 - 45ft all types of construction, have been deserted in Bruces yard, owners gone away and stopped paying bills. Some could be put back in service without too much work, others are just junk. Very complicated legal system for him to take them over and he's not allowed to sell without the paperwork trail and documents. He's now in the process of breaking up and salvaging metal, spars, engines, wind vanes, equipment, etc. but not sure where the valueless residue will be dumped.

  9. #9
    Join Date
    Mar 2002
    Location
    Greenwich
    Posts
    7,249

    Default Re: Asset or liability

    I gave away my 24 footer a couple of years ago - despite newly refurbed sails, repolished hull, new deck paint and stripe - rewired and repainted interior, all new running rigging and best of all - brand new Yanmar. It basically wasn’t marketable and I’d had it for sail on and off for 5 years at slowly decreasing prices whilst sailing it less and less myself as I’d bought a much bigger boat in the Med. I was more than happy to let it go rather than pay another 2.5k marina charge.

    You can buy a fully sailable (but often tatty) boat for almost nothing now, so I see them like so many other goods now where the cost is in the consumables not the capital, which is fine. I don’t expect my Med boat to be worth much either eventually despite it’s considerably higher initial and annual cost.

  10. #10
    Join Date
    Aug 2011
    Location
    On the Celtic Fringe
    Posts
    13,994

    Default Re: Asset or liability

    Quote Originally Posted by Homer J
    I’m really hoping for some positive answers!
    I am not a business so it is just the boat.
    Cynical Scottish almost retired engineer.

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