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View Full Version : Sell my 197 or keep it?


phecksel
01-29-2008, 09:14 PM
Didn't use the boat much last year, kinda got burned out on the club and skiing. Absolutely love the water, which is why I bought the house on the lake. Highly likely I'm not going to be able to ski at all this summer, and may have limited time on the lake too. Boat is in excellent condition and low hours. Already taken the depreciation hit, and got a great price on the original purchase. I would have a tough time spending this much money again on a boat, household finances are different now then they were at the time of the purchase. Have an interesting caveat, no trailer. Bought the boat without a trailer.

What say my expert friends?

3event
01-29-2008, 09:22 PM
From this crowd an impartial opinion ????

After the initial depreciation is done, may as well keep it. The cost to replace with new goes up 3-8%/year - so to get back into the game will cost you more later.

Might depend on how much you owe on it, if anything. If I were making good size payments on a boat that I would rarely use, I might have a different opinion.

cbryan70
01-29-2008, 09:24 PM
my advice would be to find a trailer for it and get the cost. if you put it up for sale price it with and without the trailer.

03 35th Anniversary
01-29-2008, 09:25 PM
From this crowd an impartial opinion ????

After the initial depreciation is done, may as well keep it. The cost to replace with new goes up 3-8%/year - so to get back into the game will cost you more later.

Might depend on how much you owe on it, if anything. If I were making good size payments on a boat that I would rarely use, I might have a different opinion.I pretty much got the same opinion/advice.

JohnE
01-29-2008, 09:28 PM
Keep the boat. At least for another year. Since you have already taken the depreciation hit, it won't cost you much or anything to decide a year from now to sell. But if you sell now and want to get another, it might cost you a lot.

With a house on a lake, what is keeping you from getting on the water this year?

oldriver
01-29-2008, 09:29 PM
How old are you?Will you be keeping the lake house?Is there grandchildren someday?If you dont owe too much ,it will be there for you a long time from now.....
Just look at the late 70's and 80's out there running strong.Open bow boat that is the best ski boat around.Great for a ride around the lake even just 4th of July..Priceless.Best of luck whatever you decide,just do what feels right at the time and dont look back

WTRSK1R
01-29-2008, 09:55 PM
...Boat is in excellent condition and low hours. Already taken the depreciation hit, and got a great price on the original purchase... household finances are different now then they were at the time of the purchase.

What say my expert friends?

If you like the boat, and think there is ANY chance you will use it in two or three years, I would seriously consider keeping it. You have one of the best skiing boats out there, and the sale price is not going to change much in the next two years. You can reevaluate the whole situation again at a future date. If you do not have a payment, or it is a manageable payment, it would be worth keeping it to avoid the up front costs to replace it later, if at all.

Steve

phecksel
01-29-2008, 09:57 PM
I kept my tristar for a lot of years and was pleased with it's value. Including a couple of years where the boat so ZERO lake water.

Bite your tongue wrt to grandchildren, girls are only 15/16!

I'm still paying on the boat and will be for awhile :(

Not planning on moving, couldn't sell the house anyway, the market in MI has tanked, and in my city, it's totally toast.

71ChevelleSSkier
01-29-2008, 10:05 PM
My vote is to sell. If a boat sits idle, problems begin!! Sell it. Buy again down the road if your situation changes.:)

wakolman
01-29-2008, 10:23 PM
With a house on a lake, what is keeping you from getting on the water this year?

Maybe working to pay for the lake house??? :(

Good luck with the decision. Boats are 100% pleasure, so they are often one of the first casualties when it is time to trim the fat. ;) If it was me, and I finally got that pad on the lake, I would want a boat on the lift ready to go. Why else move to the lake, if not to boat?:confused:

rodltg2
01-29-2008, 10:25 PM
wow burned out on skiing...!?? hope that never happens to me. is it skiing itslef or the club you belong to? if your not going to use it at all and your sure about it , i would sell it. however living on the lake without a boat will be tough. if you decide to sell without a trailer and buy one to sell it you will really be out of pocket. a trailer will cost at least $2K . maybe try and find somone on the lake that doesnt need a trailer to sell to..keep in mind that if you sell now you will take a hit and if you decided half way through summer you want to take cruise or take some visiting friends/family out you will out of luck.

phecksel
01-29-2008, 11:20 PM
It's a little of both, the club is dying a slow very painful death. I was trying to stop this pattern it entered about four years ago and took a lot of personal flack. Lot of interesting interactions. Coming to the realization that I'm at best a 15' off skier, and even then it's tough. Haven't been able to move back to just open water free ski. Would love to spend more time footin, but same thing, the wicked falls recovery is a bit longer :)

erkoehler
01-29-2008, 11:25 PM
What are the details on the boat? PM me if you don't want to post.

Looking for options, colors, and pricing. What do you need out of it.

cbryan70
01-29-2008, 11:31 PM
double post whoops

cbryan70
01-29-2008, 11:32 PM
It's a little of both, the club is dying a slow very painful death. I was trying to stop this pattern it entered about four years ago and took a lot of personal flack. Lot of interesting interactions. Coming to the realization that I'm at best a 15' off skier, and even then it's tough. Haven't been able to move back to just open water free ski. Would love to spend more time footin, but same thing, the wicked falls recovery is a bit longer :)

sounds like your going through a similar situation my uncle went through. there was a not really a ski club but more of just a private club called the marine club. it was in our town for a very long time just a bunch of blue collar guys having a good time with maybe a little bit to much partying here and there. The part of the river it was on is perfect as i still use it today but the last couple of years were very tough. our city decided they wanted the property back and started taking most of the liberties away. it was a house that basically had been completly redone over the years with about 10 peirs in the water. well one year the city took it and there was no going back. they ripped the house down and all the peirs out and now the ramp has deteriorated and many of the members especially my uncle were very down. he ended up moving his boat down south to his retirment property....only uses it a few times a year as he is not retired yet. He does regret putting the boat south as it is nice to get on the water once an a while even if it is just to relax. Wish that club was still there as i would most definatly be a member now. sorry for the usless post just had to vent

Leroy
01-29-2008, 11:57 PM
If you are just going to sit on it for 2-5 years and then sell I would sell it now instead. You will lose the payments and it will depreciate at some slow rate. If you think you will enjoy it and use it again keep it. With 15 and 16 you have college and other expenses for them to think of also. I'm starting to look at my boat as 2-3 years of college for my son :(

cbryan70
01-30-2008, 12:27 AM
leroy make him take out student loans they are deferred for 4 years then you have a few more years with the boat

h2oskifreak
01-30-2008, 01:38 AM
Depends on the equity, demand for cash and likelyhood you will use it. I have a boat (not my Mastercraft) I use once a year. But it holds it's value and it's paid for. I use my MC. tons and would never consider selling it unless it was replaced by another MC. Use you best judgement and do what is best for you and your family. Sounds like your passion is waning. Might be time to sell, especially if you can free up $ or cash flow. I hope you are not forced to sell if you still have passion, cause that would just suck and will be gut wretching. You will do the right thing, just don't rush it, especially at this time of year.
Regards and good luck

Ben
01-30-2008, 08:23 AM
Do you have friends on the lake w/ski boats? If so, I may consider selling. Someone is always looking for a spotter / extra skiers - although you need to be a bit more flexible on timing. You could sell the 197, and get a crappy pontoon for $1000 - $2000. This way, you still enjoy the lake, and have opportunity to ski if needed. Another thing to consider is if your children enjoy skiing / the boat. My dream is that the girls will grow up & want to ski / boat with daddy. The fantasy of this dream is that it keeps them at home some with family rather than out getting in trouble, like daddy did.

If you don't have good ski buddies on the lake, I'd consider keeping it one more year, prior to selling. You know what your boat has been through, and selling now and rebuying in a few years (unless you buy new) puts you in the used boat buying game...

If you are looking for someone to use it in the summer to make sure it doesn't sit too long, we could put it on my hoist, I'll keep my 205 on the trailer and I'll TRY to make sure the 197 gets run every so often.:D

I'm with ya on the economy. We bought & redid a house about 2-3 yrs ago. Great timing on that.:(

phecksel
01-30-2008, 12:21 PM
WRT to college and student loans, the kids have been repeatidly told we are NOT funding their education. My mom just learned a hard lesson wrt to co-signing student loans, i.e. my nephew, her grandson. Mom called one day and said what can I do about the collection agency that's calling :( Took about 8 weeks, and a lot of money to make that problem go away, but on the positive side, it was only about 1/4 as expensive as she originally thought. So, my kids are not getting co-signed loans either!

This is likely to be the only year I can't ski, and maybe with the break, the desire will return again. Cash flow while always being watched, is not an immediate concern. I'm not desperate to sell :) Just hate seeing such a great asset go unused. Not the first time that's every happened, but never with this boat. I sold my plane after a couple years of virtual non use. Guy I sold it to crashed it. I was devestated after hearing that :(

SWMBO and I will talk about this and I appreciate everybody chiming in with opinions. I suspect she's going to be of the lets keep it and see what happens.

Muttley
01-30-2008, 02:20 PM
Well, only you can decide whether or not it's worth it.

Personally, I've only been a guest at a club where a buddy of mine was a member. During that time, I didn't get much time out on my own boat, but when I did I loved it. Two weeks and a weekend out of the year it was indispensible. My family and I absolutley had a blast. The rest of the time it sat idle and you know they don't like to sit. I asked myself if it was worth it, and finally decided to sell.

Immediatley my wife and daughter said, almost in unison "You're buying another boat, right?"

Uhhh ...hadn't planned on it. It was too much work and tough to get anyone to go. But after not having a boat for a summer, I missed it. I bought another, this time my dream boat, and I'm so looking forward to a renewed interest in boating.

My ski club buddy's family never cared for it, mostly because he'd force them to go. He was on a mission to turn balls and his family learned to resent it. That's why he joined the club. He got so burned out sking every other day that he finally had enough. He sold his boat and bought a Harley and hasn't looked back. He says he wants to come skiing on my boat, but I know his hearts not into it and on nice days, he'll be riding. To him it was an obsession until he finally said screw it, and washed his hands of the whole thing.

I've always skied for pleasure and exersize. My family and friends love the boat, so to me it's worth it, even if I don't use it like I used to. Then again, I haven't been burned out and started viewing the whole boating thing as a job, like my buddy.

If you sell it, are you going to miss it? Are you selling the lakefront and finding a new hobby? How does your family feel?

ProTour X9
01-30-2008, 02:29 PM
What color is it???

mccobmd
01-30-2008, 03:16 PM
I was in a similar situation 2 years ago, had to decide if it was worth it for 10 days in the summer on the water. we rode it out and now in my new job I make more money, more time off, and we love the boat. I also have a 15yo girl and her friends would rather go to the lake with us than out shopping. You made the initial investment so I'd ride it out for a year or two.

WESSTAR
01-30-2008, 03:26 PM
15/16 year old kids. Nothing better than dad time on the lake. When I was that age that my favorite thing. Still is. Burned out on skiing you can always buy a wakeboard. :D

ShamrockIV
01-30-2008, 04:00 PM
Hard to justify paying on something that u do not use. we are not talking about an inexpensive item!!

Prostar in Michigain
01-30-2008, 04:09 PM
does it have a full tower?