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Throwing money around like its water!

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Old 02-13-2006, 03:18 PM
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Default Throwing money around like its water!

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.
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Old 02-13-2006, 03:21 PM
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Default Re: Throwing money around like its water!

Trust me everything is for sale....no matter what you have that you think you have your hard work into you would sell for the right $$$....thats all they are doing.
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Old 02-13-2006, 03:21 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 with you. I also think the price of a new boat is REDICULOUS.
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Old 02-13-2006, 03:29 PM
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Default Re: Throwing money around like its water!

+ I don't think speedracer is selling for a big loss, which may be why it is still for sale. I am not 100% on that because I don't know exactly what he has in the boat but I am pretty sure he has been offered more then what he has in it.
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Old 02-13-2006, 03:33 PM
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Default Re: Throwing money around like its water!

Really break down a boat....its a fiberglass tub with a a couple big blocks in the back.... does it cost alot to make them....sure it does.....most of us dont think of buying a brand new rig for 500k-1million+....but lets face it, you have to have some serious cash flow to operate these rigs or work damn hard for it.......the ones you see forsale are mostly people who can afford to have a new model each and every year......
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Old 02-13-2006, 03:33 PM
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Default Re: Throwing money around like its water!

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Originally Posted by ANDREW REALTOR
They might be in some crazy tax bracket but I still can"t figure it out either i keep a lot of toys till there paid for then I enjoy them more without the loan on them but I guess if you got that kind of coin what the heck??
these people dont do loans... they just wire transfer
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Old 02-13-2006, 03:34 PM
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Default Re: Throwing money around like its water!

Quote:
Originally Posted by ANDREW REALTOR
They might be in some crazy tax bracket but I still can"t figure it out either i keep a lot of toys till there paid for then I enjoy them more without the loan on them but I guess if you got that kind of coin what the heck??
I am nowhere near that tax bracket but like with cars I get bored with them usually with in 6 months. I will put a lot of work into them fixing them up restoring them and what not and drive them one summer and thats it I am ready to move on and try something else. I am the same with boats and my boats were nothing like speedy or those kinds of boats. It is just the been there and had that syndrome. Always wanting to try something differnet. At least that is what it is for me. Part of the fun is having it built and designing and then once you run it, its time to brings something new to the table.
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Old 02-13-2006, 03:35 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.
Definitley not trying to be rude, but the answer is because it's their money and they will spend it how they want.

You'll see ad's for these boats mainly to attract attention to the dealer or manufacturer, but usually everything is for sale.
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Old 02-13-2006, 03:39 PM
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Default Re: Throwing money around like its water!

I like it when rich guys spend bunches of their money. I could probably think of better ways to blow a few hundred grand but it is none of my business and maybe he does that also. Would you prefer he put it in the stock market and sit on it rather than back into the economy? It seems crazy to me too but as a percentage income, it's like me eating 2/3's of a value meal and throwing the rest away. It's no big deal.
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Old 02-13-2006, 03:42 PM
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Default Re: Throwing money around like its water!

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Originally Posted by BGIII
I like it when rich guys spend bunches of their money. I could probably think of better ways to blow a few hundred grand but it is none of my business and maybe he does that also. Would you prefer he put it in the stock market and sit on it rather than back into the economy? It seems crazy to me too but as a percentage income, it's like me eating 2/3's of a value meal and throwing the rest away. It's no big deal.
I get it.

So as percentage of income, it's like me eating 2/3rds of a tic tac and then throwing the rest away.
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