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What is the main reason owners leaving yachting?

Discussion in 'General Yachting Discussion' started by Pelagic Dreams, Sep 26, 2010.

  1. Pelagic Dreams

    Pelagic Dreams Senior Member

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    I guess the list could be extensive, but I have a hunch that the overall ownership costs vs. real time using the yacht does most owners in. Sure, there are health issues, re-locating, down turn in disposable income but it seems from what I have been reading, that the coin counter on a yacht never stops spinning whether in use or not. That is the one big issue that won't leave me alone. Our plan to spend 6 months a year aboard our yacht will end up being much more expensive that we realize.
    After the first two years, we are goning no crew, self maintained, using mechanics when needed and eating spam....just kidding.
    Are we close to the issue, or way off?
  2. K1W1

    K1W1 Senior Member

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    Hi,

    The loss or reduction of the disposable income is probably right up there near the top.

    A change in family situation, divorce etc probably accounts for a few temporarily at least.

    A couple of bad experiences with crew and or management co's would not be that far behind IMO.
  3. MaxPower

    MaxPower Senior Member

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    At Sea ... Aahhh ...
    like they say, boating is like standing under a cold shower ripping up $100 bills ... & actually laughing & enjoying it ...

    when u run out of bills to rip up ... u mite wanna reconsider this obsession ...

    :eek: :eek:
  4. Kafue

    Kafue Senior Member

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    Why? Why? WHY!

    IMO:
    Depends on the reason WHY the person bought a yacht.
    If it was a "Look at Me" or (excuse me) "D1k extension" then that quickly wears off when they realise a gold chain & botox are cheaper.

    Then the guys who are always buying something for stimulation, be it a car, motorbike, boat, have a buzz for a short while and like a kid who sees another toy, sell out.

    Then ofcourse the money, big problem as there is NO logic to owning a boat (ask NYCAP, he has it right, not that I agree with him though!:D ) but if they are true yachties, the search for the next one never ends and it may just be a downgrade as long as it is a boat...ASAP.

    Then the addict yachtie. You hear they are selling but the reason is, they fell in love, enjoy every moment, even the bad experiences which become highlites, and sell only to get another foot or ten!
  5. My signature once was: 'The Man's importance is how huge his toys are...', so maybe answer a couple of things here, but until the 'boat' is then removed, it was an infinite sea horizons again ... nothing in binoculars !
  6. ArcanisX

    ArcanisX Senior Member

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    I think you should start with the more fundamental question, specifically, "how many boat owners actually enter yachting?"

    With the % of boats in any marina that rarely if ever ease off, this seems like a natural place to start. Maybe many people "leave yachting" simply because they never entered it?
  7. Capt J

    Capt J Senior Member

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    I agree, a lot of owners buy a yacht because it is a status symbol, and not because they actually enjoy being on a yacht or yachting or going on a trips and enjoying it. They're also too cheap to pay professionals to run the yacht so that they can truely enjoy their experience. That is why most of them use the yacht at a marina just to have drinks and show off to their friends. These are also the fakers, that can barely afford everything in their life and then realize what an expense a yacht is. The problem is, shortly after they buy the yacht, a larger, newer, and shinier one pulls into the slip next to them, and then theirs isn't so impressive anymore.
  8. Seafarer

    Seafarer Senior Member

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    A combination of the above did it for us. My grandfather passed away and my father was diagnosed with cancer in the same year (leaving me as a teenager in charge of a family business that was way over my head to run properly while still going to high school then off to college). Consequently, the funds as well as the time spent on the boat we redirected elsewhere.
  9. Liam

    Liam Senior Member

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    I think all the above are right, but I think recently here in the Med costs have doubled in a five/ four year period. And I think that is putting a lot of passionate people off boating. Especially on the West side of the med.
    I mean the normal running costs like berthing, and yard rents. This is getting too much over the head of the people here.
  10. Ward

    Ward Senior Member

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    I wonder how many people _really_ leave...

    I sailed a lot with my family as a kid, up until early in university when other pursuits drastically cut down my time spent on boats. But I never lost interest, still read magazines when I could, sometimes got out just for a short trip in the bay, tried windsurfing for the first time this summer and liked it... It's taken a long time, but I'll probably ease back into boating in the next year or so, although I'm not sure where two-foot-itis will take me from my Zodiac!
  11. NYCAP123

    NYCAP123 Senior Member

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    Although many individual issues lead to it, the #1 reason is $$$ and related problems. In the past an older 35' would be owned by a body shop owner, maybe a fireman or cop; a new one by a lawyer. That's when fuel was a buck. Then the world got the idea that, since we can afford the mortgage payment (but not the purchase price) most average Joe's can have a 45'. Marina owners caught the fever as well thinking they should be driving a BMW as well, and since the bank would advance the money to rebuild their marina with enough left in the slush for a house and car, why not. Finally, reality started to set in. The extra money got spent so they had to raise prices and cut back on things like good mechanics. Boat owners realized that it's a task taking a large boat out and bringing it back in (an hours prep before going out and another hour when you come back in unless you work fast or cut corners), not to mention the fear of hitting something with a boat they're not qualified to handle, so the boats sat. Add to that fuel @ $4.00 a gallon and even the stupid, greedy and delusional catch the hint. The business has over expanded and found the wall amongst normal people. Bottom line is that everybody took their piece of the pie (and then some) and now there's not much left but crumbs. Of course people will again buy boats. They're pretty and exciting. But I think it will be a while before you see people risking their homes for a boat again.
    One other note: although the rich can still afford to keep the top end of the market alive their cruising grounds are shrinking. There are too many areas where safety is a major concern due to violence. And although that end of the market held strong for both boats & housing they are now being affected also. McMansions are now going for a fraction of what they did a few years ago, if at all.
  12. ArcanisX

    ArcanisX Senior Member

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    Your typical bubble scenario. Yachting is by far not the only field where it's happening.
  13. geriksen

    geriksen Senior Member

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    I am afraid, I agree with you on this one Cap.
  14. Capt J

    Capt J Senior Member

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    I agree also. HOWEVER, I see it going back in the other direction now. Boats are becoming more reasonably priced (used) compared to a few years back. Marina's are offering better rates, and yards are starting to offer specials (like bottom paint) to lure customers in there......Fuel well, has come down some but not a lot.......

    I also see a lot of partnerships forming on 1 boat, instead of 1 owner boats. This is treading on difficult water in most cases, however sometimes a partner loves boating then buys 1 on his own......
  15. Pelagic Dreams

    Pelagic Dreams Senior Member

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    I read a post from the guy asking how much to maintain a 48' yacht. The answers ranged from 10% of replacement value to as little as 5% if you do your own maintanence. Crew or not, time in water vs. time at marina all variables on the total cost. Let's go to the high end of 10%......if you figure that into your yearly cost budget and the numbers are good....then the way I see it the respective owner might not get the "enjoyment return" he thought he might. Thus, leaving the yachting world since the $$ were not worth the pre-conceived idea of "Yachting"

    Does that make any sense?
  16. NYCAP123

    NYCAP123 Senior Member

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    Not sure if I understood your statement, but if anybody expects yachting to make any sort of financial sense they're in for a rude awakening. Better to overestimate the costs by 5% than underestimate it on a million dollar yacht. If it scares someone off that's better than drowning.
  17. Pelagic Dreams

    Pelagic Dreams Senior Member

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    financial sense in that the total cost of paying and operating the boat is affordable to the owners budget. What I am saying is if work only lets someone use the boat say 400 hours a year, they might leave yachting because the $$ spent vs. the time enjoyed is unfavorable.

    Unlike us, who will spend the better part of 6 months at a streach on the boat, the costs are liken to a second home...that goes places
  18. NYCAP123

    NYCAP123 Senior Member

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    When times are fat people throw money without a thought. Times aren't fat again yet, but a boat still costs what it costs. Whether you use the 5% or 10% that's an averaged cost. If it happens to be the time the isinglass goes, or worse a motor, the formula goes out the window. Anybody buying a boat needs to understand and be financially prepared for that.
  19. lobo

    lobo Senior Member

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    Some owners who in the past had moved up the ranks to large, fully crewed S/Y are actually downsizing, looking again for the thrill of sailing smaller yachts themselves. They might keep a hi-tec 60' cafe racer at their dock, set up for short handed operations, and go out in a nice afternoon breeze with friends or a paid hand. Probably an occasional long weekend with their partner, at the most. A switch away from lage yachts, but generally not driven by budget considerations, rather back to the roots sailing.
  20. Pelagic Dreams

    Pelagic Dreams Senior Member

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    I have been on yachts with a crew service, and while you did not have to worry about the details of the day to day operation, it seemed to me as to being in a moving hotel. Hey, that's me, I like a more hands on approach to life at sea. I don't want someone telling me my air tank is full, I want to know it as fact. Maybe what I am getting at is those who see yachting as more of a lifestyle rather than an entertainment and long weekend get-away would be more apt to stay involved rather than leaving when costs become a factor.