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  1. #21
    Join Date
    Jul 2015
    Posts
    1,791

    Default Re: Boat value relative to personal worth.

    Quote Originally Posted by maby View Post
    You are probably right - but the original question was asking about boat value to "net worth" which is reasonably defined as the amount of money you could lay your hands on if you liquidated everything you own. For the average person in late middle age, their biggest assets are likely to be their house and their pension pot. For "high net worth" individuals, this balance will be different.
    +1

  2. #22
    Join Date
    Oct 2012
    Posts
    3,290

    Default Re: Boat value relative to personal worth.

    Who cares?

    Just don’t tell my wife,
    I am worth more dead than alive.

  3. #23
    Join Date
    Feb 2006
    Posts
    2,886

    Default Re: Boat value relative to personal worth.

    Using the 5% benchmark, the lottery prize that I will have to win (in order to be able to afford the 70 foot yacht that I desire) will be around £60 million.
    Sounds reasonable to me.

  4. #24
    Join Date
    May 2005
    Location
    Loch Snizort, Isle of Skye
    Posts
    4,961

    Default Re: Boat value relative to personal worth.

    Hmmm, we have either a very cheap house or a very expensive boat, because we're more like 20%. Eek.
    Moody 39- Deb 33- Wayfarer- Wanderer

  5. #25
    Join Date
    Jun 2009
    Posts
    12,611

    Default Re: Boat value relative to personal worth.

    Quote Originally Posted by Resolution View Post
    Using the 5% benchmark, the lottery prize that I will have to win (in order to be able to afford the 70 foot yacht that I desire) will be around £60 million.
    Sounds reasonable to me.
    I suspect that the ratio is somewhat different for people buying high-end boats. For those of us down at the low end of the net worth scale, we are going to hang onto quite a high proportion of our assets to cover old age and retirement. A multi-millionaire can only eat as much as we plebs - albeit better quality, perhaps. He'll have a nicer house, but probably not more expensive in proportion to ours. If you have a net worth of a million, then spending £100k on a boat is a big commitment. For the guy with £10 million, spending a couple of million on a boat still leaves him with more than he is likely to be able to spend in whatever is left of his life. I suspect that, long before you hit the £60m, you will come to the conclusion that you can afford £5m for your dream yacht.

  6. #26
    Join Date
    Jun 2009
    Posts
    12,611

    Default Re: Boat value relative to personal worth.

    Quote Originally Posted by Kelpie View Post
    Hmmm, we have either a very cheap house or a very expensive boat, because we're more like 20%. Eek.
    If your house is on the Isle of Skye, then I guess it is the former. Down here in the south, a fairly modest house can easily be worth half a million...

  7. #27
    Join Date
    Nov 2016
    Posts
    2,790

    Default Re: Boat value relative to personal worth.

    'I have nothing. I owe much. The rest I leave to the poor....'

  8. #28
    Join Date
    Jun 2001
    Location
    Corfu - mostly
    Posts
    5,415

    Default Re: Boat value relative to personal worth.

    2% of my net worth, but 25% of my annual income to run!

  9. #29
    Join Date
    Oct 2004
    Location
    Devon
    Posts
    2,227

    Default Re: Boat value relative to personal worth.

    I try not to think about it, one boat 20 years ago was more like 70% of net worth. But I took a couple of years out and it was then my main home.
    quicKutter rope cutter, shaft and rudder bearings
    www.h4marine.com

  10. #30
    Join Date
    Feb 2014
    Posts
    337

    Default Re: Boat value relative to personal worth.

    Quote Originally Posted by Irish Rover View Post
    There's a thread ongoing on Trawler Forum about the typical relationship between boat value and personal net worth. There's mention of 5% as a guide figure but, in the main, contributors argue there's no typical relationship. Things are a bit different in the North America of course because of the high proportion of owners who borrow to buy. I'd imagine very few in Western Europe borrow to buy. What do forumites think? Is there a typical relationship between the two or even a perceived sensible target percentage?
    I donít know of any statistics to prove or disprove your theory but I am willing to bet those who borrow to purchase are mostly those who purchase small runabouts and go-fast craft.
    I donít know of anyone who has borrowed to purchase a yacht in many years. The median age of owners has grown over the years and most have also financially matured to the point where toys are not financed.

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