Posts: 65
Location: De Pere Wisconsin | What many people fail to realize is that depreciation eventually becomes the reverse if a product is held onto long enough and taken care of. A 30% hit when you tow the boat off the lot and then 10% a year after is about what I see when I look at boats...plus the loss on electronics.
Anything almost 30 years old will sell for more than new is my guess if it is still operating and in better than could be expected condition for it's age.
The average retail paying boat buyer (me) is crazy to sell a new boat after 1-3 years...but I have done it. Looking at what boats are selling for when they are 3-8 years old seems to be a real judge of what the value retention is. I can't say I have been really watching any one brand in that age range...I have been shocked at how high the price was on some older 680/681/690 Ranger's that sold ....but there isn't anywhere near the number of Tuffy's to compare it too.
So at one year a 20k boat is worth - 14000 cost of 6000 per year
two years -12600 cost of 3700 per year
3 years -11340 cost of 2886 per year
4 years -10340 cost of 2415 per year
5 years -9306 cost of 2138 per year
10 years -5495 cost of 1450 per year,
I don't think a well taken care of 10 year Tuffy or Ranger would sell that low after 10 years, so the cost per year will be much lower....this is why I want to buy the right boat and hold onto it. |
