Buying That First Vessel
Now that the Ft
Now that the Ft. Lauderdale boat show is over some of you might be thinking about either upgrading or possibly even purchasing your first brand new Great Loop trawler.
After a good number of years of selling vessels, I have a piece of information which could prove invaluable to you. This is some guidance that you are probably not going to like and may be difficult to take. It is guidance that for a few of you will contradict everything you have ever lived by: to not worry concerning the money!I frequently experience buyers approaching me asking for my guidance in helping them in selecting and purchasing a fitting cruising yacht. Many of them have some skill with vessels, but many times not behind the wheel of a large motor yacht.We have a method that we go through to find out which items the customer feels he wishes. A question we ask is what type of cruising are you going to do; coastal cruising will need a different vessel than one manufactured to cross the ocean.Price is mentioned on our questionnaire merely to get an understanding of what sort of money the buyer is ready to pay out; no point in evaluating $500,000.00 vessels if $200,000.00 is all the money he has to spend.And we advise purchasers never to purchase a boat based solely upon the price either; do so and you will be listing her within 6 months. "Why did I buy that darn boat, I didn't like it to begin with" you will be saying. I always advise my purchasers, you need to like the yacht to start with; it needs to talk to you.That is not to say that cost is not significant, I would prefer you pay 15% additional for the top boat for what you intend on doing with it and have fun every time you are on the water rather than saving ten to fifteen percent and having many regrets each occasion you leave the dock. And I have witnessed that take place, and have witnessed it cost purchasers a lot of money in the long term.We caution purchasers that a first-class vessel constantly comes with a premium price. You will evaluate the boat market and will find the vessels of the same year that are $30,000.00 different in price. Why is that? Constant maintenance and improvements will make a big difference. For instance, you come across a 40' motor yacht vessel that has been painted, brand new isinglass, and a new generator; those upgrades cost her current owner approximately $26,000.00.However a number of boat buyers advise me, I have found some real low-priced vessels available, there are some bargains available; not so fast. We typically discover that "discounted" boats normally will require an additional 20% - 30% of the price to raise the vessel up to normal functioning standards. Therefore that deal you discovered on that $60,000.00 vessel will probably cost you roughly $80,000.00 prior to you leaving the dockAs a result this is my advice for all you boat purchasers, don't make the purchase price the primary portion of your new boat's purchase. Granted it is important, but if you end up with the incorrect boat you paid excessive money despite how inexpensive it was!We will see y'all out on the waterway!by: Marinetrader
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