Chrysler Sailors Forum

I have been active on chat forums for years about various interests that I have including...
Sailboats, motorcycles and woodworking

One very common question is "What's it worth?"
(Another is "Where can I get parts?")

I want to open a discussion about the first question.

What's it worth?

Whenever I hear that question, I wonder what question they are really asking.

Is it...
What's the maximum that I can sell this thing for?
How much money can I put into this thing before it's not worth it anymore?
Is it worth keeping?
Do I have a diamond in the rough?
I want to buy one but I don't want to get screwed, so how much should I offer?

I used to be a real estate appraiser and I can say that value is based on history. If something similar (or several somethings) sold recently after being on the market for a reasonable time, that is the price people are willing to pay for such an item. So when people ask me "What's it worth?" - I usually send them to Craigslist or Ebay to do some research to at least find out what people are trying to get for the item. Also take into consideration how long the item has been listed. And let's not forget to consider the condition of the item.

So to answer the question "What's it worth?" is not so easy!

I want to add that the value of an item in my possession is also affected by my ability to fix such an item.

If I don't know how to fix it or have no interest in fixing it, then it is worth considerably less to me.

I believe that the value of anything is an intangible, within certain parameters, when that object is non-essential. There are countries in Africa where a bar of soap can get you out of jail.

Just as real estate sells for what the other guy got, a boat is much the same. But, the varying parameters come into play. There are new boats with lots of glitter, and there are c-20's like mine, which have virtually no public following. For example: I bought mine because I was too late to obtain the Montgomery 17 that I was after - at twice the price.

In the world of 20 foot family class boats made in the late '70's, I probably did fine. Same goes for the C-22 I just sold, and that buyer did well, too.

At the same time, there is a C-22 at mooring that has been for sale for many months, with the price fallin from $1750 to now, $1500 - well below what I paid for mine. And, this boat is a better example, being nicer in all respects.

The difference? It is a full keel boat and must be moored. The guy who is looking at a small cruiser is uaully not the guy who can make marina payments to keep it there.

These are just a few of the intangibles that make the market so crazy.

In the end, a boat is a thing that you put money in to - lots for some - not so much for others. The cost is either going to drive one away or you just call it for what it is: The Price Of Fun

After I enumerated all the things the I have purchased to refit my C22, totalling more than three times what I paid for her, my friend said "Well at least you can probably recoup your investment if you sell her"...at which point I rolled on the floor laughing.

i think the cost of a boat is justified by the amount of fun you have. whats the cost of a trip to vegas or hawaii ? i think if we didnt have boats we would just spend the money on something else. the only good thing is with these old boats i think the depreciation is already baked into the cake so they cant really go down much more, its just that what we put in we wont get back LOL.