This came up recently as I'm rewriting a chapter for the 5th edition. I cover the valuation of yachts and commercial vessels. The early editions were US but over the last at least 5 years the book is being bought much more by international appraisers.
About 15 years ago when mega-yachts became popular the US built were in the $30mm to $60mm range and I had to include some facts in the earlier book. These were 140' to 180' power yachts.
My research with various sources told me that the annual cost to maintain the operation and service of mega-yachts was a about 12% to 17% of its value. I discovered that some newer huger yachts cost around 20% to operate it.
A great friend in Holland just sent me a note about a 2010 yacht built in Holland in 2010 at a cost of $70mm whose operating cost are $7mm. (Crew of 21 and capacity of 10 guests. In my knowledge much of that crew is only necessary when there are guests on board).
My latest research now seems to be an annual cost ranging between 10% and 20%.
What % of its value do you need to operate for a year.
I can see a $3500 trailer sailboat be close to $350 while a keeled $15,000 boat that spends $1500 because of a summer at the wharf and even racing.
Yes, food for 2 is better than food for 20. But if you entered your work time at a fair $ cost the percentage might be upperish.
Very little for me, usually just a license for the trailer. That is not including tow truck maintenance, which you should include, but as I do most of the work, again very little. Smaller is much more attuned to retirement income. Those folks whose hands don't fit a paintbrush and don't know a 9/16 from a 10mm are in for a shellacking.
I say fine if you can handle it, but wonder if the maintenance estimates are what creates and maintains dock queens.
Oh boy ,I really didn't want to think about this too much . Annually I spend about $250 for upkeep .
That includes bottom paint and fuel for the outboard .
I own our mooring , launch and retrieve the boat myself and store it at home .
I've averaged about $2000 a year in in either upgrading the electronics or replacing the sails and outboard over the last 5 years.
I paid $5500 for the boat 20 years ago . I'd say I'm likely to get that back out of it .The money spent on upgrading and maintaining will never be recouped.
I would guess about $250 a year on average. Some years it is just the cost of gasoline for the outboard, while other years it may be for new tires for the trailer. Last year I purchased a new handheld GPS and an electronic signal flare. I also needed a new spreader, but even with the that, the annual cost is very low. The cost to join the community sailing center is now around $750, and that requires a drive of about an hour. The initial cost of the boat new, plus engine and trailer was around $14K. I've had the boat 17 years, so not much more than the cost of community sailing when annualized. Plus, I plan on keeping her for a long while.
Wow, maybe not something I want to be reminded of. ;) Because I have opted for the luxury of being in the water year round, in a slip that has both power and water at a marina that has a shower facility the cost is fairly high. I pay around $1600 a year for that. Add insurance, registration for the boat and trailer $350, annual maintenance average of about $250 and average cost of upgrades over the years of $200 we're at $2400. Boat, motor and trailer originally cost $20K and NADA has it still about that probably due to inflation more than anything else. I sure don't want to look at those expenses as a ratio of hours sailed in the last couple of years. :(
Frank , I'm not sure wher you are located . I'd jump at those costs.Here in Wisconsin , slip are $2400 or more . We are only in the water mid May to mid September . Maybe four full months . That doesn't include launching or haul out . Nor winter storage or shrink wrap.
Ummmm? Let's see, 13 years ownership
Insurance: $100x13=$1300
Registration: $10x13=$130
Trailer: $250 (lights, tires, carpet)
Batteries: $300
Ground tackle: $100
Polish etc: $100
Gasoline/seafoam:$200
New outboard: $750
So maybe $250 a year
If I add in trip expenses like gas for tow vehicle, meals on the road, hotels, slip rental... which I've only done 4 times with this boat. Let's be generous and add another $1000. Since my boat is for sale, let's assume I sell if for something less than I paid for it - say $500. Let's add $25 a year for misc. That's about $375. That's my final figure and I'm sticking to it.
$375 a year
Forgot to add in insurance. Still worth owning the boat. We spend more money to see the Yankees play ball in the Bronx! My Brother-in-law had a large motor yacht (48 feet) He did use it frequently, but the cost was incredible. He would jest that to start the engines was $200 before he left the slip. I could not even guess the cost of the slip and insurance.
All of you make sense.
The S2 was no expense but the affordable dock. The Nimble very similar plus an annual bottom cleaning. Low annual costs for 12 months of use.
Then the Blackwatch 24. It was rare and not in great shape. By the time it was in use I had spent more money than it was worth. It was pretty amazing.
The final Hartley TS16 was a fantastic boat in near destroyed condition. The cost for the 6-month heavy rebuild, including the thought of my labor, was horrendous. I got it free and donated it in the end. I think my costs were similar to what its value could be.
Our boats can be expensive. But I think their lives are better than playing golf.
Quote from: Norm L. on Apr 25, 2025, 01:17 PMOur boats can be expensive. But I think their lives are better than playing golf.
I used to play golf a good bit. I have often compared the costs of playing golf to sailing. For $400 a year my wife and I could play golf four or five times. Not that I do, but I could sail many times in a year. Other than the initial cost, which I expect to almost completely recoup when I sell, the cost of sailing is relatively low. Many have said that a boat is a hole in the water that you throw money into. I guess I could throw a lot of money into it but I have not. So that's not been true for me. Bottom line: sailing is a relatively inexpensive hobby.
I suspect my biggest sailing expenses are gasoline for the tow vehicle when I go places. The hour drives to the sailing club and hour back home. I keep 3 sailboats on the hard for a total of $15 a month, and the annual club dues which come to $780.I could sell two sailboats and drop the sail club thus cutting those costs but wouldn't do as much sailing either. Worth every penny at this point in my life.
Just last night I was speaking with a friend who has a 24 foot powerboat. Last year (while we were his guests on the boat) the engine stalled, sputtered, and nearly died on the way back from an evening outing (not to mention at the same time his GPS cut out along with his running lights, but that is another matter). Anyway, his 20 year old 150 HP engine is shot, and he decided to replace it. He also needs some trailer work. The cost of a new engine just blew my mind :o around 15K. New controls and meters for the engine add a couple of more thousand. A new suit of sails can run a few grand, even for a smaller sailboat, but not what my friend is spending to repower his boat. Hobbies and pastimes can run into some serious money, just don't forget to leave enough for the rent and beer.
No question about that.
Buy a new 18' sailboat at a price well below an old used 18' Boston Whaler.
I previously said not much in the way of costs, but there ARE some, and that includes the set of springs I'm shopping for. The labor to put them in is free but must be scheduled. And there is only so MUCH schedule. Not to mention the surprises IN the schedule that you didn't know about until the LAST POSSIBLE MOMENT. Yeah, anyway, it costs some.
Hey, I'm taking this grumpy old man thing to the next level!!!
Lately I've found that the more time I spend in the shop the less time I have to listen to that over-abundance of things that I DO hear. There is music in there too, and when the late afternoon sun streams in and some good rips are being laid down, life is good. Springs on a small boat are no big deal. WHack 'em off and install. Grinder and sawzall. Floor jack. Got a welder as backup in case there is attachment problems. Listen to the rock and feel the breeze. Summer is coming and the shop work will cease.
Just too hot.
Yes, warm.
But a weekend in Ocean Springs this summer will be mandatory. With family.
I'm not really interested in doing the math, but DW is. I do know I spend a good chunk of my RMD (required min distribution) from the IRA on boat upgrades each year. Thankfully, my retirement plus SS covers my everyday expenses. And the boat is worth less than what I paid for it.
Insurance is expensive @$300/month. But I don't want DW to be faced with a hefty salvage bill when I misjudge things and meet my fate. The environmental cleanup costs shouldn't be as high now that I no longer have a gas outboard - have to check for a premium reduction.
Fred W
Stuart (ODay) Mariner 19 Sweet P
Cost depends on what you include... Insurance at $130, misc supplies maybe $100. I live on a lake, and store it on the property in the winter. I no longer race, so I'm not worried about using old sails that may be stretched out a bit, but have no rips or patches.
But here's the big one... Invested cost= lost opportunity cost. I bought the Santana 21 at just 1 yr used, for $6000 in 1976. It might be worth $1500 now. But $6000 invested in the market in 1976 would be worth $$$ ? I'll let you financial guys do the math. Honestly, I've enjoyed sailing for so many decades, and find I can still do it at 83 yrs old. What is that worth?? I have no complaints on the cost. It's a bargain in my book.
Nicely put that life with a boat can be worth the little or the big over our lived with it.
As for historic spending today, I saw a friend of mine. Adjacent, not his, was a beautiful elderly Triumph with an open price between $30-$40K. I should have taken a photo.
Everything, that's how much 8)
I run a little under $350/yr in routine costs and administration (registration, insurance, etc) for my Windrose 18. A round trip to the lake runs about $20 in gas, ish.