If you have a lower budget, and you are concerned about the operating costs and running costs, then certainly the opportunity to charter would help you make a decision.
I would say it’s all about condition, same as a house. If you improve a house you will generally see money back on it.
People do make money on boats, I’m in the yacht industry and we’ve sold quite a number of boats over the years for customers who may buy something that’s a little bit rough and they do it up, they’re quite savvy about prices and tough negotiators, if they keep it a year and sell it on.
Come on dude, this is a serious investment forum and not an online 2nd hand market. An investment is “the purchase of goods that are not consumed today but are used in the future to create wealth.” your yacht business does not consider as an investment!
Wow! Calm down... you’re giving one definition of investment. Mine says an investment is “an asset or item acquired with the goal of generating income “ which means even a second hand yacht can be considered as an investment. I started this thread because I’ve heard about people who managed to make a fine amount of money this way.
Hey guys, no need to get upset. AaronDavis, if you don’t like the subject, just go read another thread.
wal.melvin, if you are considering remodeling the boat with higher quality materials then it is pretty sure you’ll get more than what you paid for it.
Be careful though to the cost of the materials you are investing it.
I would like to know at bit more about buying second hand yachts which need work on them but I don't want any bashing please
Like I said before, I'm in the busienss and you can certainly make some money on them thats for sure. It depends on your budget and circumstances of course but if you go to a reputable company and start small then you will be fine. A lot of these big yachts you see are bought and sold frequently so its not just a buy new market your best off to visit your local harbour if you have one like Brighton somewhere like that ther are plenty of places there
I would suggest you went for somewhere less commercial than Brighton go to the Whitterings there are plenty of knowledgable people there or just Google whereever is nearer to you and go to a small harbour and have a look about
Ok thank you I will I have just been looking at them on the internet until now
This is a common mistake people make you are far better to go and actually talk to someone in the flesh. It is the same with houses! People look at them on the internet and they look totally different in reality so your much better to go and see for yourself.
Good point and there is a lot to learn but find the right people to guide you and dont rush into anything
So it is still a good investment
Absolutely there is a huge market.