Like Tree0Likes

Throwing money around like its water!

Reply
Old 02-13-2006, 03:43 PM
  #11
Platinum Member
Platinum Member
 
H20 Toie's Avatar
 
Join Date: Sep 2004
Location: Channel Islands CA
My Boats: Got nothing
Posts: 1,462
Default Re: Throwing money around like its water!

With that boat it might be becuase he can't get insurance for it. how many companys do you know that will insure a 160+ boat.
H20 Toie is offline  
Reply With Quote
Old 02-13-2006, 03:47 PM
  #12
Registered
 
Ms PatriYacht's Avatar
 
Join Date: May 2003
Location: Waterford, MI
My Boats: Blackthunder & Malibu ski boat
Posts: 5,353
Default Re: Throwing money around like its water!

some people seem to enjoy the build process more than than owning the finished product. I see it with houses also, someone spends a few years building some spectacular house and before you know it's on the market. (although with homes you try to make a profit). It seems rich people get bored easier, maybe that's cause they can afford to
Ms PatriYacht is offline  
Reply With Quote
Old 02-13-2006, 03:50 PM
  #13
Charter Member #139 /Moderator/Platinum Member
Charter Member
 
klaw's Avatar
 
Join Date: Nov 2000
Location: McHenry IL /Duck Key FL
My Boats: 1989 Cigarette Bullet cig 20 resto mod
Posts: 2,201
Default Re: Throwing money around like its water!

reminds me of the cigarette called Strip Poker I was at Smoke on the Water a couple years ago and the dealer said I could take it for 800,000. Then about a year later we read about laying outside uncovered and repoed minus a motor I think. Yikes what a shame sometimes
klaw is offline  
Reply With Quote
Old 02-13-2006, 03:52 PM
  #14
Registered
Thread Starter
 
Join Date: Jan 2004
Location: Naples , Ny
My Boats: 88 Cigarette cafe racer
Posts: 144
Default Re: Throwing money around like its water!

Quote:
Originally Posted by h20 toie
With that boat it might be becuase he can't get insurance for it. how many companys do you know that will insure a 160+ boat.
I highly doubt its due to a lack of insurance! If you can afford to buy a boat like that chances are you could also afford the full replacement value of it . Im also sure that if someone with a boat like that were to injure someone else with the boat i.e (hitting someone on a jet ski). He could afford to buy his way out of the impending lawsuit.
BigDadys93x is offline  
Reply With Quote
Old 02-13-2006, 03:54 PM
  #15
Charter Mod
Charter Member
 
BLee's Avatar
 
Join Date: May 2000
Location: E Dock
My Boats: Cigarette - "90MPH" Edition
Posts: 6,551
Default Re: Throwing money around like its water!

Quote:
Originally Posted by h20 toie
With that boat it might be becuase he can't get insurance for it. how many companys do you know that will insure a 160+ boat.

LMAO, it's not.

He's been offered plenty for it. It's not for sale until he's done with it. The ad is mainly for show, unless the check is big enough.
BLee is offline  
Reply With Quote
Old 02-13-2006, 04:01 PM
  #16
Registered
Thread Starter
 
Join Date: Jan 2004
Location: Naples , Ny
My Boats: 88 Cigarette cafe racer
Posts: 144
Default Re: Throwing money around like its water!

Look at the "Man of Steel" boat . That was the hottest boat going then it went up for sale. The boat didnt sell right away now the paint is stripped and the motors are out of it to try and dump it for less money. If i was the guy who put my long hours into painting it or building those monster motors I would be pissed to see something like that go to hell like that.
BigDadys93x is offline  
Reply With Quote
Old 02-13-2006, 04:03 PM
  #17
Registered
 
dhlaw's Avatar
 
Join Date: Feb 2003
Location: New Smyrna Beach, Florida
My Boats: 2001 Top Gun T/S, 2002 Gladiator
Posts: 2,697
Default Re: Throwing money around like its water!

They go for sale immediately because once the owner is seen a few times in his latest creation the thrill is gone and its off to the new project. Its all about "Hey, look at me!!!!".........
dhlaw is offline  
Reply With Quote
Old 02-13-2006, 04:04 PM
  #18
Registered
Thread Starter
 
Join Date: Jan 2004
Location: Naples , Ny
My Boats: 88 Cigarette cafe racer
Posts: 144
Default Re: Throwing money around like its water!

Quote:
Originally Posted by dhlaw
They go for sale immediately because once the owner is seen a few times in his latest creation the thrill is gone and its off to the new project. Its all about "Hey, look at me!!!!".........
Aint that the truth!
BigDadys93x is offline  
Reply With Quote
Old 02-13-2006, 04:16 PM
  #19
JC Performance Engines
Gold Member
 
Stormrider's Avatar
 
Join Date: Jul 2002
Location: Long Island, NY
My Boats: 2003 28 Pantera - SOLD
Posts: 8,810
Default Re: Throwing money around like its water!

If you're making 30-50mil a year... then it wouldn't be such a big deal.

If you enjoy building the boats, this is a cheaper way to go about it than acutally going into business to do it.
Stormrider is offline  
Reply With Quote
Old 02-13-2006, 04:30 PM
  #20
Registered
 
Tantrum's Avatar
 
Join Date: Oct 2000
Location: USR, NJ
My Boats: Stray Cat Statement Marine
Posts: 4,000
Default Re: Throwing money around like its water!

Ms PatriYatch has a very good point, some are more into the build process and might even be burned out in some cases before its done.

I know of three 300-500k boats that were listed as soon as they were completed all for more than the owners actually paid so dont assume they are taking a beating. Are they really for sale, probable not for much less than the asking price. I dont know what the average sell time is on a boat in this range but Im sure in some cases it could take a year or two.

There is also a mentality that comes with some boat owners that which asks "how much will it cost to run the boat for X amount of time". If it costs a couple hundred thousand to run a boat for 2 years than thats the number they (and their accountants) are interested in. Not weather the boat costs 900 or 1.5.

Lastly I know most want to believe there are guys out there that money is no big deal. Ive yet to meet one. Most guys with this kind of money are very shrewd business people who have some disposable income to spend on a very expensive hobby. They arent dummies and they rarely throw money around for no reason......thats how they end up with alot of it
Tantrum is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
FLYWITHME
General Q & A
1
09-21-2011 07:51 AM
sonicator
Trucks, Trailers and Transportation
2
11-03-2007 10:32 PM
FLYWITHME
General Q & A
0
12-10-2005 02:32 PM
ST31
General Boating Discussion
1
08-15-2004 07:34 PM
Here's Johnny
General Boating Discussion
6
08-07-2004 06:35 PM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 12:22 PM.


Copyright 2011 OffShoreOnly. All rights reserved.