Fiberglass depreciation
03-19-2016, 05:48 PM
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Fiberglass depreciation
Hypothetical question for you guys and gals.....what is the depreciation on fiberglass. I have a 77 scarab and have thought that if someone with the time and money went through and completely restored the boat to new condition with updated drives, motors, rigging etc would it still be valued as 40 year old boat? What's to say that this boat with surface drives and 540 motors isn't worth the cost of a newer boat, or are boats valued like cars with constant depreciation over time?
03-19-2016, 06:10 PM
#2
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Boats are unique to and unlike cars in depreciation.
The value of a boat is worth more parted out than the sum of it's parts, no matter what year it is.
When you finish your Scarab and decide to sell it you will never re-coop what you spent restoring it. Some boats like Scarabs, Cigarettes, Formulas, Donzi, etc will always have some value as a hull because of what they are. The REAL value however is in the power, drives, rigging and electronics that can be re-used on any other Sport Boats. This is why in the Swap Shop" section of OSO you will see many ads for "Parting Out a XXXX Bad A$$ Cig with Twin 502 BBC's and Twin Double Throw Down Super Trick Drives". The parts sold individually bring much more than the boat as a whole...and sell faster.
If you try to insure against loss of your $$$$$ investment...get a "Stated Value" policy like collector car enthusiast do. If you try to get a regular "Total Loss" policy on your 77 Scarab you would not get more than what the NADA or BUC value is for your boat.
Hope this helps you thinking.
The value of a boat is worth more parted out than the sum of it's parts, no matter what year it is.
When you finish your Scarab and decide to sell it you will never re-coop what you spent restoring it. Some boats like Scarabs, Cigarettes, Formulas, Donzi, etc will always have some value as a hull because of what they are. The REAL value however is in the power, drives, rigging and electronics that can be re-used on any other Sport Boats. This is why in the Swap Shop" section of OSO you will see many ads for "Parting Out a XXXX Bad A$$ Cig with Twin 502 BBC's and Twin Double Throw Down Super Trick Drives". The parts sold individually bring much more than the boat as a whole...and sell faster.
If you try to insure against loss of your $$$$$ investment...get a "Stated Value" policy like collector car enthusiast do. If you try to get a regular "Total Loss" policy on your 77 Scarab you would not get more than what the NADA or BUC value is for your boat.
Hope this helps you thinking.
