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  1. #11
    Join Date
    Sep 2002
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    Default Re: How do you afford it?? Boat that is!


    Indeed it would !

  2. #12
    Sixpence's Avatar
    Sixpence is offline Registered User
    Location : Having a spot of Tiffins
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    Aug 2005
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    Default Re: How do you afford it?? Boat that is!

    Been self employed sparkie for almost two years now, speciality is marine and automation, but bought my boat with proceeds of house sale (predicted a crash that didn't happen) , now just working on building the business, so I wouldn't say many owners are flush, just prioritise what earnings they spend on boats the same as someone prefers hotels or expensive entertainment

  3. #13
    andy_wilson's Avatar
    andy_wilson is offline Registered User
    Location : S. Yorkshire / Devon
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    May 2001
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    2,716

    Default How do you afford it??

    Anyone with a normal job doesn't afford one. Whatever a normal job is.

    A very senior exec. in a large PLC or similar might expect to buy one out of his bonus (I notice the Cheif of Standard Life could have, except he chose not to take the cheque, must have been too embarrassed by performance). By the nature of these people, they should be able to afford the running costs out of normal pay.

    Other than that, work for yourself, get (or make your own) lucky break.

    Who was it who's formula for riches was 'rise early, work hard and strike oil'?

  4. #14
    Join Date
    May 2003
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    743

    Default Re: How do you afford it?? Boat that is!

    Buy a 3 bed semi 29 years ago 10k, spend years doing up then live in it up to today, mortgage nowt, don't smoke or gamble, drink very little. Work your wotsits off to build 3 businesses, employ lots of people on "normal salaries", sell the businesses when someone is willing to buy, have 2 heart attcks, then start again and build up the final business (you hope).

    Then take fathers inheritance, a mortgage no bigger than you would have had if you'd moved house to something "normal" people expect you to have as a successful business man and buy a boat @ a bit more that 300k. Then use all disposable income feeding it, berthing it and buying toys!! Mind you just bought another toy to add to the "Damn" fleet, so I never learn, more news in the new year.

    P [img]/forums/images/graemlins/wink.gif[/img]

  5. #15
    Join Date
    Dec 2004
    Posts
    131

    Default Re: How do you afford it?? Boat that is!

    I wonder if there is a relationship between boat value and income.
    Does some one want to set up a poll? I would if I knew how. [img]/forums/images/graemlins/confused.gif[/img]

  6. #16
    SimonA is offline Registered User
    Location : Northamptonshire
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    Nov 2004
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    1,558

    Default Re: How do you afford it?? Boat that is!

    Working for yourself is no guarantee of a big salary. Problem is I pay 17.5% to the VAT man and 40% to the tax man. That does not leave much for spending on boats!

    I always wondered how people afford (or justify) spending a million on a big Fairline or Sunseeker. Recently I did some work with a sales rep from Sunseeker who told me a lot of clients are rich businesmen, but they tend to buy the boats on finance rather than with cash. Money spent on a boat is dead money and they would rather invest the money and take a loan.

  7. #17
    Join Date
    May 2003
    Posts
    743

    Default Re: How do you afford it?? Boat that is!

    Couldn't agree more, few mates of ours with nice size boats, are in property development and are currently mortgaging "The Stock" to live and keep the boats.

  8. #18
    Join Date
    Oct 2001
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    11,076

    Default Re: How do you afford it?? Boat that is!

    I guess it depends on your definition of "top 1%" - 5 years ago, the top 1% earned more than 62,500 per annum, and I don't have the up to date figures.

    I sell my soul to the company for a lot more than that, but still my old Windy is what I can afford without any debts.

    I guess that means the big stuff is Co Director / Chairman / Owner etc. and there are few of those on here.

    The other thing is that in marinas, there are a lot of consortium owned craft - but looking at them, you'd never know. And again, for someone with little time on their hands, there is the chartering alternative. Get the boat to wash its own face!

  9. #19
    tcm is offline Registered User
    Location : Caribbean at the moment
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    Jan 2002
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    22,969

    Default Re: How do you afford it??

    John Paul Getty, i expect. But money can't buy happiness. Well, that's a lie actually, probly specially made up by or for people more skint than they want to be.

  10. #20
    Andrew_Fanner is offline Registered User
    Location : ked into poverty by children
    Join Date
    Mar 2002
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    8,517

    Default Re: How do you afford it??

    Even with the cheaper end you winder how people afford it. Legacy, scrimp and save and do stuff yourself. And that is the Joe Average salaried employee. But outside the expensive new boat league, compare boating costs per month with a Premisership roundball ticket each weekend and you are not really that different from the non boater.
    Two beers please, my friend is paying.

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