Originally Posted by FoxMitchell
Not to deviate from the topic at hand or question Alfred's knowledge, but I've heard that before ("it's an investment"), but it seems that you pay one million today for a yacht and tomorrow when you want to sell it you have a hard time getting most of that back.
Can a yacht ever really be an investment you could expect to get back at least what you paid for it if you decide to sell?
Hi there Fox,
I guess by now you have googled "Wealth:...", thanks to "Disco" that should be enough but I like to pitch in my point of view when I say "investment" about a boat.
When you pay lets say $1mil on a boat, you did not pay it up for charity, you payed it against a physical property that you acquire and get hold of to use in the matter intended to it. You payed $1mil as a market value at time of purchase, when you want to sell, you will get the market value at time of selling. For boats, because it is more of a luxury investment, then second hand boats are more of a buyer's market, and this market is under greater effect of economy being a product of extreme luxurious status, and at the same time it is subject to product condition, you can buy an "okay" home when you must, but you buy an "okay" boat only when the price is right.
So, for such an investment to be worth it, when shopping for a boat, you have to consider a type, size, setting of boat that holds up its value when put to resale, and when getting a new build, avoid modifications that might not attract others, and install every necessary gadget to make your product attractive at the time you put it in the market, selling in boating season holds better value than of season. Maintenance is the important thing, because boats are black holes for cash, the tighter that hole, the more attractive the boat is to prospect buyers.
Now, to show you how this $1mil investment can be more profitable than you think, I want you to remember, (if you have gone boating), how many times you saw the happiness of your family while boating and said to your self: "This is worth a million bucks!", and remember how many times you anchored at a $1mil view, and threw up a party or had a gathering that were worth more than a million dollars. Sum all those millions up and come time to sell, you are the winner!
This is just how I see it.