In a message dated 10/27/07 12:00:41 AM, trawlers-and-trawlering-request@lists.samurai.com writes: > Also, if 10% is a reasonable number for a NEW boat then perhaps this > > percentage should be greater if buying an OLD boat. Obviously, since this > > is such a rough estimator, it is unreasonable to put too fine a point on > > this but wouldn't it make sense to use perhaps 15% if I am looking at a > 20+ > > year old boat? > It all depends on how you pay for the boat, doesn't it? If you finance the puchase of a new $500,000 boat over a 20 year period, assuming $100,000 down payment, the interest cost will be about $28,000 and the principle payment $20,000 the first year. Add to that insurance costs and the initial depreciation costs, you might well be looking at a $60,000 to $70,000 payout the first year. The costs will decline over the years primarily because of reduced depreciation. All before you get on the water. On the bright side, most equipment should not need repair or replacement for several years. Older boats should have minimal financial costs but require more expensive equipment maintenance. Dockage and annual maintenance costs (bottom paint, fuel costs, etc.) should be the same for either. I've owned relatively new boats and relatively old boats and the 10% average seems a reasonable figure, assuming you do a portion of the work yourself. But I assure you, if you calculate all the costs on a spreadsheet, you will never buy a boat. The cost per hour of use is frightening. It's like figuring the hourly cost of driving a Rolls Royce. Larry Z ************************************** See what's new at http://www.aol.com