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Throwing money around like its water!

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Old 02-13-2006, 07:08 PM
  #31
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Default Re: Throwing money around like its water!

I think the point that was origianally inteded for this thread was that these very rich people got where they are (most of them) by making smart money decisions. They are smart people.

It doesn't seem like a smart decision to buy a $800K toy, use it for a year, turn around and sell it for $500K-- a loss of $300K.

Whatever the reason, alot of people here listed very good reasons, it doesn't really matter, it's just the fact THAT THEY CAN AFFORD TO DO IT.
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Old 02-13-2006, 07:12 PM
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Default Re: Throwing money around like its water!

well another spin on this is.
you are in the right circles and have the cash.
the builder want to get boats out so u get a large discount,,,
magazine prints retail
you run it while its for sale and maybe you get close or just under what you actually paid the new owner thinks he got a great deal as he saw in print the price and got it for less as it had a few hours on it.
another spin
you have the cash the builder needs to pre sell as he is tight for cash give u better deal this way.
you are in with the click and if you drive that brand boat others will want it too so builder will give deeper deal to get one out with you in it,,
a milion scenerios but bottom line i know some folks wioth big $ and they dont have it due to throwing it away.. they are generally pretty smart,,
some will become dealers so they can buy at cost and then use as demo and resell that way...
just ssome ideas. i am sure there are people with money not being an object but i think in most cases they have other ways of making it to thier benefit,, anoother spin
dealerputs in dealer inventory ? has flooring company finance it and then the business absorbs it and its just another write off against profit..
i can come up with a bunch of scenerios..
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Old 02-13-2006, 07:14 PM
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Default Re: Throwing money around like its water!

You guys are also forgetting many of these boats are corporate owned so a small loss per year is a write off. I have two friends that change boats every 18 months and get out of them before they break. Refreshing Sterling power can run big money and when you become a good client of a particular brand you get substantial discounts so why not dump last years model for something new!


Jonas beat me to it!
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Old 02-13-2006, 07:44 PM
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Default Re: Throwing money around like its water!

Quote:
Originally Posted by Tantrum
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
Your right on the money
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Old 02-13-2006, 07:44 PM
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Default Re: Throwing money around like its water!

Quote:
Originally Posted by Edward R. Cozzi
They don't count their money, they WEIGH it!

I like that one.
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Old 02-13-2006, 07:59 PM
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Default Re: Throwing money around like its water!

Quote:
Originally Posted by Panther
How about the 42 OL Legacy Epoxy that was in one of the mags listed for $800K and change.... now there is a small ad in the back of the mag for a couple hundred less...
speaking of high dollar boats that barely got used, whatever happened to "Lick This"
anyone have a pic of it?
 
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Old 02-13-2006, 08:09 PM
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Default Re: Throwing money around like its water!

Quote:
Originally Posted by BigDadys93x
Im hoping someone here can explain something to me. The other day I sat down and started reading an issue of one of my favorite boating magazines and something started bugging me. Have any of you noticed that when you read an article on a new kick ass boat that someone spent a ton of money on that if you turn a few pages to an ad for some marina or brokerage service that the same boat that you were just reading about is for sale? Maybe im one of the few but I worked my butt off to get where I am today and value a dollar. Yes now i do like some of the finer things but i treasure each thing because I know how much work I had to do to get it. Like boats I may spend a load of cash on what i want but I will also keep it for lets say 10 years or so. I dont want to offend anyone but to use this for an example. I read the article in "Powerboat" a few months ago on the "Speedracer" boat and I read that it had a price tag of over 1 million dollars, I flip 2 pages to the Pier 57 ad and there it is for sale. Now I dont know about you but if I was going to spend over 1 mil on a boat like that I think I would want to enjoy it for more than one season. I was talking to a friend of mine the other day and he did the same thing he bought a new Skater 40' with a pair of huge Sterling engines spent over $700,000 for the boat just so he could run over 160mph once! Then he put the boat up for sale 3 months later with less than 10hrs on it. To me this seems like a huge waste of resources, time and money. Plus the huge loss that someone would take on a fairly new boat like that. Maybe its just me! I wish I could piss away money like that. I can understand the whole bigger, badder , faster thing, some people need the newest greatest thing on the market but when there isnt a real market for used boats in the price range that these people are trying to get for them then why not wait and save up a little more money and buy your "real dream boat" the first time instead of crowding marinas full of all these used performance boats that maybe 1% of us can afford and maybe 1/2% of can really drive. Thats my 2 cents.
I completely agree. But the only thing that is positive about this is being able to buy a (still) brand new amazing boat with literally only a few hrs on it and save $$$$$$. Be that as it may, the selection for this might not always be there, but no matter what, a deal can most likely be worked out. If the boat isn't 100% the design/style you want, maybe the huge savings can sway you into getting it for a comparatively great price!
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Old 02-13-2006, 08:20 PM
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Default Re: Throwing money around like its water!

I have a bud that made 60-70mil for 3+yrs in a row... now he's probably making 30-40mil / yr.
And he wont even buy a boat. Just not for him. But he's got 2 jet skis.

But I'll tell you one thing... if my wife was out spending a minimum of 20k/ month on clothing, you bet I'd go buy any toy I wanted... and lose what ever I wanted, just so I could do it. Its the price of having the fun at that level.
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Old 02-13-2006, 08:26 PM
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Default Re: Throwing money around like its water!

smoke em if ya got em
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Old 02-13-2006, 08:32 PM
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Default Re: Throwing money around like its water!

Sure doesn't seem like a good decision to invest 1mil , run a few poker runs , and sell for 700k... but its boating so we should probably toss any logic

Kind of like trickle-down Reganomics of boating... keeps the builders working, people dreaming, and when done well raises the bar enough to keep the game exciting...

Most of these boats are made in usa so its a good thing!
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