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What is the depreciation curve and why is it important when buying a boat?
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The depreciation curve shows how the value of a boat decreases over time; understanding it helps buyers make informed financial decisions.
Why should buyers be cautious about boats that seem like a good deal but are beyond their financial capability?
Such deals can lead to financial strain due to ongoing operating costs and maintenance, regardless of the initial purchase price.
What are the potential benefits of chartering a boat?
Chartering can offset the costs of boat ownership, but it's important to fully understand the charter business.
Why are boats that are 3-5 years old considered to be the best value?
They usually offer better deals with lower depreciation while avoiding the high initial costs of new boats.
What are the three main types of mission-specific boats discussed by Nick Cardozo?
Fishing, Cruising, and Day Boating
What is a broker's role when buying a boat?
A broker helps negotiate the best price and provides honest advice to ensure buyer satisfaction and financial suitability.
Why might someone opt to buy a boat that is ten years old or older?
Only if the boat has already been refitted or if the buyer is prepared for the potential major overhauls and maintenance required.
What should you consider with regards to engine hours when buying a boat?
Look for boats with well-maintained engines and recent major services rather than low engine hours, as diesel engines can last up to 10,000 hours.
Why is it generally advisable for first-time boat buyers to choose turnkey boats over project boats?
Turnkey boats are hassle-free and require less time and effort compared to project boats, which can be overwhelming for beginners.
What are the primary components of the budget one should consider when buying a boat?
Initial Costs, Operating Costs, Depreciation, and the role of a Broker.
What is the difference between turnkey boats and project boats?
Turnkey boats are ready to use with minimal effort required, while project boats need substantial work but are cheaper initially.
How does the brand reputation of a boat builder influence the resale and market presence of a boat?
High-quality and recognizable brands are easier to resale and have a better market presence, which can protect or enhance the boat's value.
Name a few high-quality boat brands mentioned in the notes.
Westport, Bonetti, Azimut, Sun Seeker, Ferretti, Pershing, Riva.
What factor should be balanced between personal use and resale/charter value when buying a boat?
Consider how the boat will be used personally versus its ability to be resold or chartered in the future.
Why is a 72-foot fly bridge boat ideal for Miami day cruising but not for long trips like to the Bahamas?
It offers comfort and entertainment space but lacks sufficient storage for long trips.
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